JOHN Textor has explained why he wants to sell his stake in Crystal Palace and buy a club “out of London” as he sets his sights on Everton.
Textor’s Eagle Football Holdings has engaged Raine Group to find buyers for its 45 per cent stake in Palace.
Textor said that Palace had a “steady hand” at the helm and therefore “integrated sporting model” Eagle is not “a perfect fit”.
Textor initially bought a 40 per cent stake in the club for £87.5million in 2021 before increasing it to 45 per cent two years later.
Two other American investors, Josh Harris and David Blitzer, each have a ten per cent stake, as has chairman Steve Parish.
Textor owns majority stakes in France’s Lyon, Belgium’s R.W.D. Molenbeek and Brazil club Botafogo.
“I am extremely proud of our contribution to Crystal Palace,” Textor told The Athletic, “and am overjoyed with the improved form and heightened ambitions of the club. As a lover of pure football, at the academy level, I am also delighted to have been able to support Steve Parish’s vision for the completion of the Palace academy.
“The academy is so important to the future of South London and to the club. I am also proud to have supported the multi-year transformation of the squad, invited by Dougie [Freedman] and Steve to share ideas as this current squad was built, player by player.
“Finally, in this last year, I was pleased to see total unity in ownership as we transitioned in coaching leadership that brought a new style of play that fits perfectly with the power and pace that we are known for at Palace.
“So, why would we sell, just when things are getting so good? Well, Eagle Football is known to employ a highly integrated sporting model across its football clubs, with an unprecedented amount of scouting collaboration and player movement within the family of clubs.
“Our model of collaboration has led to considerable turn-around success at Olympique Lyonnais in France, where we quickly have returned to Europa League competition, and at Botafogo in Brazil, where we have resurrected a historic club from bankruptcy in the 2nd division to fight for championships at the top of Serie A.
“We are also excited about our work-in-progress in Belgium, which resulted in a quick championship and historic promotion in our first year, which we must fight again to reclaim next year.
“As proud as we are to have been a 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 uncommon in today’s Premier League. An integrated sporting model, such as ours at Eagle, is simply not a perfect fit for Crystal Palace.
“Simply based on early reaction to the process we have begun with Raine Group, it’s obvious that the momentum at Crystal Palace has not gone unnoticed. I feel extremely confident that a good number of prospective partners will jump at the chance to be a part of this promising future.
“Of course, these processes do take time, however we believe the summer of 2024 is the right time to run such a process, with a goal to identify a successful bidder and future Palace supporter before our focus returns to football games in the Fall.
“We will keep you posted. Until then, Up the Palace!”
Textor also explained his interest in Everton.Miami-based investment company 777 Partners agreed to buy current owner Farhad Moshiri’s 94 per cent stake in the Merseyside club last September. That agreement ends on May 31.
“Everton represents the best of English football: the struggles, the glory, the want. I love that it’s out of London. Everybody should want to buy Everton right now,” he said.
“That kind of club is what I’m referring to, where the risk and the reward of your relationship and community is so great and you could come in, make promises and keep them. How great would it be to take one of these great English clubs back to sort of glory?
“We’re also looking at other opportunities and we don’t need to jump right out of Palace right into something. That’d be a mistake.
“I suspect that the problem with Everton is it won’t be available by the time we would be ready for it. You can’t own two clubs in one league and we’re not going to rush the situation at Palace, no matter how good another opportunity looks.”
