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US entrepreneur John Textor has made headlines by putting up his 40% stake in Crystal Palace for sale, joining the ranks of Premier League clubs seeking new investors.
Textor, known for his tech ventures, acquired his stake in Palace in 2021 for around £90 million. He became part of the four-person board alongside Apollo co-founder Josh Harris, Blackstone executive David Blitzer, and club chair Steve Parish. This stake is part of Textor’s larger network, Eagle Football, which includes clubs like Olympique Lyonnais, Botafogo, and RWD Molenbeek.
Despite his efforts, Textor could not achieve full ownership and has now appointed Raine Group to handle the sale. While proud of Palace’s achievements, his vision for a multi-club network did not align with the club’s goals.
Crystal Palace, under the leadership of manager Oliver Glasner, finished the season in 10th place with a remarkable series of wins. The team boasts rising stars like Eberechi Eze and Marc Guéhi and is set to expand its Selhurst Park stadium to accommodate 34,000 fans.
Textor’s decision to sell his stake comes at a time when several English clubs, including Tottenham, West Ham, and Brentford, are seeking fresh investments. The future of Everton is also uncertain, with Textor eyeing potential reinvestment in an English club.
The football industry has seen a flurry of sales, with major transactions like Chelsea’s acquisition by US investors and Lyon’s purchase by Textor. However, market dynamics have shifted, with cooling interest in live football rights and rising global interest rates.
As the football landscape evolves, club owners like Textor are exploring new opportunities for growth and investment. Stay tuned for more updates on the ever-changing world of football finance.