Crystal Palace co-owner John Textor has announced his intention to sell his 45% stake in the South London club. The American businessman, who has been a significant figure in the club’s ownership since acquiring his shares, revealed that he had made an attempt to buy the remaining shares in Crystal Palace but received no response to his bid. Now, Textor is setting his sights on a new challenge: establishing a relationship with Everton Football Club.
Textor’s Attempt to Take Full Control of Crystal Palace
John Textor’s journey with Crystal Palace began in 2021 when he became a co-owner of the club, joining forces with Steve Parish and other shareholders. Textor’s involvement brought new investment and a wave of optimism to Selhurst Park, with hopes that the club could build on its solid Premier League status and aim for higher achievements.
However, Textor’s ambitions extended beyond merely being a part-owner. He recently revealed that he made a substantial offer to purchase the remaining shares in Crystal Palace, with the intention of gaining full control of the club. According to Textor, the valuation he offered was significantly higher than previous investment levels, indicating his seriousness and commitment to the project.
Despite his efforts, Textor stated that his bid did not receive a response, leaving him in a position where he felt he could no longer pursue his vision for Crystal Palace. “It is true that we made an offer to buy the remaining shares of Crystal Palace, at a valuation that far exceeds levels of prior investment,” Textor wrote on his website. His disappointment was evident as he expressed his frustration at the lack of engagement from the other shareholders.
Shifting Focus to Everton
With his plans for Crystal Palace seemingly at an impasse, Textor has now turned his attention to Everton. Earlier this month, Everton’s owner, Farhad Moshiri, granted Textor a period of exclusivity to explore the possibility of taking over the Merseyside club. This move has sparked significant interest in the football world, as Everton is a historic club with a passionate fan base, but one that has struggled in recent years both on and off the pitch.
Textor’s decision to sell his stake in Crystal Palace is driven by his desire to focus entirely on this new venture. “We will now turn our efforts to selling our 45% stake in Crystal Palace so that we can pursue a relationship with the Everton club and community,” Textor explained.
The Future of Crystal Palace
The potential sale of Textor’s 45% stake in Crystal Palace raises questions about the future direction of the club. Textor himself acknowledged that there are a “significant number of parties” interested in buying his shares, which suggests that there will be no shortage of suitors willing to step in. However, the identity of these interested parties and their intentions for the club remain unknown.
Textor’s departure could lead to uncertainty, particularly if a new investor with different ideas and strategies takes over. On the other hand, the club’s existing ownership structure, led by Steve Parish, has provided stability and success in recent years, and Parish’s continued presence could ensure that Palace remains on a steady course.
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