Crystal Palace: Sportsbank eye investment but would ask John Textor to keep stake in club | OneFootball

Two other interested groups are looking to buy American business’s stake

The global sports consortium Sportsbank want to invest in Eagle Football, but would ask John Textor to keep his 45 per cent stake in Crystal Palace.

Textor’s Eagle Football Holdings group also own French club Lyon, Brazilian side Botafogo and RWD Molenbeek of Belgium.

Textor came close in the summer to buying Everton, whose 98.8 per cent takeover by the Friedkin Group was approved by the Premier League on Thursday.

Sportsbank was set up by Zechariah Janjua and Navshir Jaffer, who are being advised by the experienced football financier Keith Harris. He previously oversaw takeover deals at Manchester City, Aston Villa and West Ham.

John Textor

AFP via Getty Images

The merchant bank Raine Group have been hired to oversee the process which could see Textor sell his stake to one of the other two interested parties.

Besides Textor’s 45 per cent stake, Josh Harris and David Blitzer each own 10 per cent stakes in the club, as does chairman Steve Parish, who retains the deciding vote on key decisions on Palace’s board.

Back in August 2021, Textor invested £86million in Palace, originally for a 40 per cent stake. He said in a statement in August this year that he had tried “everything possible” to buy a 100 per cent of the club.

A statement from Eagle Football Holdings on October 29 stated the group “expect to identify a finalist and buyer in early November 2024.”