Crystal Palace co-owner wants to share his stake and buy another Premier League club instead
Crystal Palace co-owner John Textor is looking to sell his stake in the club with eyes set on buying Everton.
John Textor, the American businessman and owner of Eagle Football Holdings, is exploring the sale of his 45% stake in Crystal Palace.
This move is part of Textor’s strategic preference for holding majority control in his sports investments, a condition he cannot fulfill at Crystal Palace due to the unavailability of additional shares.
Textor initially purchased a 40% stake in Crystal Palace in August 2021 and later increased it to 45%. However, his ambitions to acquire a majority share have been thwarted by the club’s current shareholders’ reluctance to sell more shares.
Textor looking to buy Everton
This limitation has led him to consider selling his existing stake, particularly as he expressed a desire not to remain a passive investor in the long term.
Instead, he has eyes set on buying Everton who are currently up for sale. However, a move may depend on him selling his stake in Palace first.
According to Daily Mail, it is unlikely that the Toffees will still be up for sale by the time he has sold his Palace share.
Textor told The Athletic that he has enlisted banking firm Raine to help him sell his Palace stake, claiming that the recent resurgence of The Eagles has not gone unnoticed by potential buyers.
Meanwhile Everton’s potential buyers 777 are facing some legal matters which has delayed their takeover.
However, it is reported that current owner Fahad Mishori has granted them an ultimatum to prove they can buy the club.
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