The Convoluted Ownership of John Textor | OneFootball

John Textor, the American entrepreneur behind Eagle Football Holdings, has emerged as one of the most controversial figures in modern soccer ownership. Through his investment group, he controls stakes in Botafogo, Olympique Lyonnais, and RWDM Brussels. Far from the romanticized “Welcome to Wrexham” stories, Textor’s presence has sparked frustration, legal battles, and unrest among supporters and football officials alike.

John Textor’s reputation has steadily declined as stories of missed payments, questionable transfers, and financial instability continue to surface. In a sport increasingly shaped by holding companies and billionaire investors, he’s become a cautionary tale about placing club traditions in the hands of profit-driven outsiders.

Soccer’s shift away from community-based ownership to corporate holdings has created a landscape where identity and culture are often overlooked. In South America, similar patterns have emerged, with unstable ownership models disrupting storied clubs. The dream of a wealthy savior has at times turned into a nightmare — just ask fans of Leeds United or AC Milan, where financial power has not always translated to sporting success or stability.

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At the center of it all is the 59-year-old Missouri-born Textor. After dabbling in skateboarding and entertainment tech ventures, he entered the soccer world in 2021 with the purchase of a 40% stake in Crystal Palace. It was a move that surprised many, especially since he had previously shown interest in buying into other English clubs like Brentford, Watford, and Newcastle.

Textor has never shied from making waves. He has publicly accused Brazil’s domestic league of corruption and claimed to possess evidence of match-fixing. He has also challenged UEFA’s Financial Fair Play rules and the Premier League’s profit and sustainability regulations, arguing they stifle competitiveness and preserve elite dominance. Whether seen as a disruptor or delusional, Textor’s loud presence is impossible to ignore.

Financial Trouble Across the Board

Textor recently sold his stake in Crystal Palace for $254 million to resolve UEFA’s multi-club ownership conflict, which had jeopardized the FA Cup holder’s Europa League participation.

In Brazil, his flagship club Botafogo was sanctioned by FIFA in June after failing to pay Atlanta United the full transfer fee for Thiago Almada, a $21 million deal. Almada briefly joined Botafogo before being loaned to Lyon, another Textor-owned club, but the payment structure fell apart, prompting a second FIFA intervention and the threat of a transfer ban.

By August 1, a court in Rio de Janeiro froze Eagle Football Holdings’ funds related to Botafogo over a separate $50 million debt. The ruling was meant to protect the club from further financial damage and ensure some form of repayment. Observers have raised concerns about how Textor moves money between his clubs, especially in light of the Almada transfer and Lyon’s own financial crisis.

Lyon, under Textor’s control since 2022, narrowly avoided forced relegation due to a reported $190 million debt. The club appealed the decision, but Textor was forced to step down as club president, making way for Michele Kang, who was involved with Lyon’s women’s team and is also a shareholder in Eagle Football Holdings.

Textor’s group remains an investor and reportedly contributed $90 million to help balance the books, allowing Lyon to keep its place in the Europa League and Ligue 1.

Palace, on the other hand, will have to settle for the Conference League after losing their appeal.

Fan Backlash in Belgium

Textor has fared no better in Belgium. Nearly 400 fans protested outside RWDM Brussels’ stadium after he unilaterally attempted to rebrand the club as Daring Brussels. The name change, made without community input, sparked outrage among supporters who saw it as an attack on the club’s history and Molenbeek identity.

An online petition collected almost 3,000 signatures, and the proposal was ultimately scrapped, yet the damage was done. For many, the episode reflected the growing disconnect between billionaire owners and the fanbases they claim to serve.

John Textor’s story is emblematic of a wider issue gripping the global game. As football clubs become assets in investment portfolios, their soul, rooted in community, identity, and shared history, is often overlooked.

While investors like Textor promise bold visions and revival, they frequently leave behind chaos, debt, and disenchantment. Whether it’s in Rio, Lyon, or Brussels, the reaction is the same: fans feel abandoned, unheard, and increasingly wary of those who see their beloved clubs as business ventures rather than cultural institutions.