Crystal Palace co-owner John Textor interested in selling stake in club and buying Everton

In a statement to ‘supporters of Crystal Palace football club’, John Textor has announced that his company, Eagle Football Holdings, are actively looking to sell their stake in the club.

Meanwhile, according to Matt Woosnam and Patrick Boyland of The Athletic, Textor is interested in purchasing a majority stake in Everton, should his stakes in Palace be sold.

Along with chairman Steve Parish and businessmen Josh Harris and David Blitzer, Textor is one of four co-owners at Selhurst park, having bought a 40 per cent share for £87.5m in 2021, before investing £30m to extend his shareholding by five per cent just last year.

However, with the American wanting Palace to be a key part of Eagle Football multi-club group – the firm also hold majority stakes in Brazil’s Botafogo, Belgium’s RWD Molenbeek, and Ligue 1 club Lyon – he has become frusrtated over his lack of control at the London club.

As such, although he maintains a “civil” relationship with Parish, who is the main decision-maker at the club, Textor has previously expressed his desire to either sell his stake, or purchase a majority, due to the belief that “it’s important to have a UK partner that is as collaborative with our other clubs as they are today.” as he stated last year to The Athletic.

With the option of a takeover not possible, Eagle Football have announced the appointment of investment banking firm Raine Group to “solicit and interview prospective buyers” of their interest in Oliver Glasner’s side, whom Textor states is “simply not a perfect fit” for his “integrated sporting model”.

Furthermore, whilst he conveyed he is “extremely proud” of his time at Palace, Textor also detailed that he has begun preliminary talks over a potential deal to purchase Everton.

The Merseyside club’s owner, Farhard Moshiri, has agreed to sell his 94 per cent stake to Miami-based private investment firm 777 Partners last September, but after a drawn-out process, the deal is now on the verge of falling through and the Miami-based investment firm only have until the end the May to complete the takeover.

777 also own teams such as Genoa, Standard Liége, Red Star F.C, Vasco da Gama, and Hertha Berlin, but have faced major backlash from fans over their handling of each club, who have faced financial and sporting issues – and in some cases sanctions – due to their owners not being able to provide adequate funds.

Consequently, the Miami-based investment firm have not yet passed the Premier League’s owners and directors’ test; with themselves, their portfolio companies, and its co-owners Steven Pasko and Josh Wander, having also been subject to multiple lawsuits.

A potential new buyer of Sean Dyche’s side is subsequently on the cards, and Textor has registered his interest. The 58-year-old said: “Everton represents the best of English football: the struggles, the glory, the want. I love that it’s out of London. Everybody should want to buy Everton right now”.

However, as Premier League rules restrict ownership of two clubs in the same division, Eagle Football must first sell its share in Palace before it makes a formal approach to buy a stake in Everton.

Therefore, whilst Textor is still exploring the idea of purchasing Everton before it potentially goes off the market, he has also stated that it would be a mistake to rush the situation at Palace

Travis Levison | Get Football

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