American businessman John Textor is reportedly considering selling his minority stake in Crystal Palace. Textor had already purchased a 40% stake in the Premier League team in the summer of 2021. However, over the next two years, it gradually increased this stake to 46%. The businessman is currently co-owner of the Eagles along with Josh Harris, David Blitzer and Steve Parish.
As well as being involved in Palace, Textor also has stakes in three other global football clubs. After purchasing the south London team, he bought majority shares in Brazilian team Botafogo and Belgian club Molenbeek just six months later. Textor eventually took a 40% stake in Lyon in the summer of 2022. However, the American eventually took a majority stake in the French team at the end of that year.
Textor prefers majority control at Crystal Palace like his other clubs
According to The Standard, Textor doesn’t exactly like having a small property in Palace. Instead, he prefers his position with his other football clubs. Textor himself hinted at the suggestion during an interview with The Athletic last summer.
The media consulted the businessman about becoming the majority owner of Botafogo. Textor admitted that he liked to be more involved in the Brazilian team, especially with the young players. The American does not have the same control with Palace.
Textor also revealed in the interview that he is unlikely to be a “passive investor” in Palace in the long term. He stated that he also wanted to continue adding club shares to his portfolio. The move would have helped Textor become the majority owner of the club. However, there are currently no more shares available to purchase.
“After those first successes, it soon became clear that no one wanted to sell any more shares,” Textor explained. “Palace shareholders 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 have 46 percent but I vote like a quarter of the board.”
“How likely are you to be a passive investor over a period of time? “If you knew me, you would know that is not a long-term strategy.”
Investors would want a majority stake in Palace
While Textor is exploring the idea of selling its shares, other changes would likely have to occur to attract new owners. Potential new investors would prefer to become majority owners of the club only. 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 be the target. Despite his low share of the pie, Parish is currently Palace’s chairman 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 money helped fund Palace’s academy, while lowering the average age in the senior team. The club’s signings are on average five years younger than the players they have sold since 2021. As a result, Palace’s first-team wage bill has also decreased.
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