American businessman John Textor is reportedly considering selling his minority stake in Crystal Palace. Textor previously purchased a 40% ownership in the Premier League side back in the summer of 2021. However, he gradually increased this stake to 46% over the next two years. The businessman currently co-owns the Eagles alongside Josh Harris, David Blitzer, and Steve Parish.
Along with being involved in Palace, Textor also has ownership stakes in three other global soccer clubs. After buying into the south London side, he then purchased majority shares of Brazilian team Botafogo and Belgian club Molenbeek just six months later. Textor finally obtained a 40% stake in Lyon in the summer of 2022. Nevertheless, the American finally grabbed the majority share of the French team by the end of that year.
Textor prefers the majority control in Crystal Palace like his other clubs
According to The Standard, Textor does not exactly enjoy only holding a small ownership position at Palace. Instead, he prefers his position with his other soccer clubs. Textor himself hinted at the suggestion during an interview with The Athletic last summer.
The news outlet asked the businessman about becoming Botafogo’s majority owner. Textor admitted that he liked getting more involved in the Brazilian side, particularly with the young players. The American does not have the same control with Palace.
Textor also revealed in the interview that it is unlikely for him to be a “passive investor” at Palace for the long haul. He claimed that he wanted to continue adding the club’s stock to his portfolio as well. The move would have helped Textor become the majority owner of the club. However, there are currently no more shares available to buy.
“After those initial successes, it soon became clear that nobody wanted to sell any more shares,” explained Textor. “The shareholders at Palace love that club. I know some fans on social media think otherwise, but it’s true. I’m at a limit as to what I can buy. I’m at 46 percent but I vote as one-fourth of the board.”
“The likelihood of me being a passive investor for a length of time? If you knew me, you’d know that’s not a long-term strategy.”
Investors would want a majority stake in Palace
While Textor is exploring the idea of selling his shares, other changes would likely have to happen to entice new ownership. Potential new investors would prefer to only become a majority owner of the club. This means that some, or all, of Palace’s other minority owners would have to agree to sell their shares as well.
Assuming Textor puts his 46% of the team up for sale, Parish’s 10% stake in the club could then be targeted. Despite his low piece of the pie, Parish is currently the chairman of Palace and has more actual control of the club than Textor.
The south London club has benefited significantly since Textor invested in the team. The American’s cash helped fund Palace’s academy, while also reducing the average age in the senior squad. The club’s signings have averaged about five years younger than the players they have sold since 2021. As a result, Palace’s first-team wage bill has also decreased as well.
PHOTOS: IMAGO.
