John Textor provides another twist in Crystal Palace ownership saga

The Crystal Palace ownership saga is intensifying as largest shareholder John Textor prepares an IPO for his holding company, Eagle Football. This could influence betting outcomes, especially regarding Crystal Palace's participation in the Europa League, as opposition from Uefa could lead to missed opportunities for punters.

John Textor's ownership of Crystal Palace has shifted with the announcement of his holding company, Eagle Football, filing for an initial public offering (IPO) in the United States. Textor owns significant stakes in other clubs, including Lyon and Botafogo.

The confidential S-1 filing was submitted to the US Securities and Exchange Commission, although details regarding the number of shares or their pricing have not been disclosed. Eagle Football has incurred substantial losses, primarily due to heavy spending at Lyon, rather than on Palace.

Last November, Textor revealed plans for the IPO, targeting a valuation of $2 billion. However, the timing raises eyebrows due to ongoing sale discussions at Palace and uncertainty regarding the club's eligibility for the Europa League next season.

Textor has declined to comment on his intentions amid speculation. Lyon, which has also qualified for the Europa League, presents a conflict given Uefa regulations that prohibit clubs with the same ownership from participating in the competition.

Uefa previously rejected Textor's proposal to place his shares in a blind trust and he has since increased his efforts to sell. Reports indicate that Woody Johnson, owner of the New York Jets, has made a £190 million offer for Textor's shares, although this is reportedly below Textor's valuation. A consortium including NBA star Jimmy Butler has also made an offer.

Textor's ideal scenario would involve selling to current shareholders Josh Harris and David Blitzer, but negotiations have not resulted in an agreement on a price. Textor has invested around £180 million in Palace since initially purchasing a 40% stake for £87 million four years ago, which has included funding player acquisitions and redevelopment efforts.

Palace is optimistic about receiving Uefa clearance for the Europa League, arguing that Textor lacks decisive influence at the club. If denied, they plan to appeal to the Court of Arbitration for Sport (CAS). Recently, Drogheda United faced expulsion from the Conference League due to multiclub ownership issues, complicating Palace's situation further.

Their case, much like Drogheda's, is likely destined for review by CAS, with additional complications arising if Nottingham Forest is promoted to the Europa League in Palace's stead. Forest has communicated with Uefa regarding their stance and may also pursue legal action if Palace is permitted to compete.

The Crystal Palace ownership saga has taken another twist last with John Textor listing his holding company Eagle Football for an initial public offering in the US

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john textor

John Textor provides another twist in Crystal Palace ownership saga

john textor