American businessman John Textor has recently expressed his intention to sell his stake in Crystal Palace, a club he currently owns 45% of through his company Eagle Football Holdings. Textor is known to have a keen interest in the Premier League and has also mentioned a desire to potentially purchase Everton, one of the league’s rival clubs. Aside from Crystal Palace, Textor has ownership interests in other football clubs such as Lyon, Botafogo, and RWD Molenbeek. In order to facilitate the process of selling his stake in Palace, Textor has appointed the Raine Group to assist in finding a buyer.
In a statement regarding the potential sale of his stake in Crystal Palace, Textor acknowledged the club’s independent status and commended the management for achieving a level of sustainability that is considered rare in today’s Premier League. Despite being proud of his involvement in the club’s resurgence, Textor indicated that the integrated sporting model employed by Eagle Football Holdings may not align perfectly with Crystal Palace’s operations. As a result, he remains optimistic about the prospect of finding suitable partners who can step in and continue the club’s progress under its current leadership.
While considering the sale of his stake in Crystal Palace, John Textor has also shown an interest in maintaining an association with the Premier League through potential investment opportunities, particularly with Everton. Textor disclosed that discussions have taken place regarding the acquisition of Everton, involving various stakeholders and investors. He emphasized the importance of addressing any existing challenges and ensuring a smooth transition to avoid any unwelcome situations. However, Textor remains cautious about the ongoing contract with 777 Partners, which previously agreed to acquire a majority stake in Everton subject to approval from English soccer authorities.
Challenges and Uncertainties
The prospective sale of Crystal Palace’s stake by John Textor and the potential investment in Everton have been complicated by external factors. Notably, 777 Partners, the entity involved in the Everton acquisition deal, is currently entangled in a $600 million fraud lawsuit in a U.S. federal court and is facing operational setbacks related to its Australian airline. These developments have raised concerns about the group’s suitability as an owner of a soccer club and its ability to meet the criteria outlined in the Premier League’s owners and directors test. Additionally, Eagle Football Holdings is prohibited from acquiring another Premier League club until it has fully divested its stake in Crystal Palace.
John Textor’s decisions regarding the transfer of his ownership stake in Crystal Palace and the exploration of potential opportunities with Everton reflect the complexities and uncertainties present in the football industry. As the landscape of club ownership continues to evolve, stakeholders must navigate challenges and make strategic choices that align with their long-term objectives in order to ensure the sustainable growth and success of the clubs involved.