Crystal Palace Co-Owner John Textor Seeks Buyer for Majority Stake

John Textor, co-owner of Crystal Palace, announced he is looking to sell his majority stake in the club through his company, Eagle Football Holdings. Crystal Palace, one of Textor's four club investments, has seen recent success under Coach Oliver Glasner. Textor aims to remain involved in English football.

Reuters | Updated: 25-05-2024 01:16 IST | Created: 25-05-2024 01:16 IST
Crystal Palace Co-Owner John Textor Seeks Buyer for Majority Stake
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Crystal Palace co-owner John Textor said on Friday he is trying to sell his majority stake in the club, which he owns 45% of through his company Eagle Football Holdings, and has appointed the Raine Group to find a buyer. Palace is one of four clubs Textor owns, along with majority stakes in French side Lyon, Brazilian first division club Botafogo and Belgian outfit RWD Molenbeek.

"As proud as we are to have been part of the resurgence of Crystal Palace, it remains true that Crystal Palace is an independent club run by a man with a steady hand who has achieved a level of sustainability that is incredibly rare in today's Premier League," Textor said in a statement. "An integrated sporting model like ours at Eagle is simply not a perfect fit for Crystal Palace," added the businessman, who is "proud" of his contribution to the club and is confident that a number of potential partners will step in.

Coach Oliver Glasner has revitalised a young Palace side, lifting them out of the relegation zone and into 10th place in the Premier League this season after replacing Roy Hodgson, which bodes well for their future. The BBC reported that the American businessman is keen to maintain an involvement in English football and would consider Everton as an opportunity if the protracted sale to 777 Partners is not resolved.

Eagle Football cannot buy another Premier League club without first selling its stake in Palace.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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