Jimmy Butler joins $200m bid to acquire Crystal Palace stake from John Textor | OneFootball

A United States-based consortium, including NBA star Jimmy Butler, is preparing a bid worth more than $200 million to acquire Eagle Football’s stake in Crystal Palace (h/t The Athletic).

If the offer is accepted, it would value Palace at more than $465 million. The club recently won the FA Cup for the first time in its history, qualifying for the 2025/26 Europa League.

However, Palace’s participation is in doubt due to Eagle’s majority ownership of French club Lyon, via chairman John Textor, which UEFA think breaches their multi-club ownership rules.

All four of Palace’s general partners recently met UEFA officials to argue that Textor does not control the club. A final decision from UEFA is expected later this month.

Nottingham Forest wrote to UEFA, reminding the governing body that Palace are not eligible. They would move up to the Europa League from the Europa Conference League if Palace drop out.

New York Jets owner Woody Johnson has also submitted a bid for the shares, even though he has yet to meet Textor’s valuation.

If the Butler-fuelled bid is accepted, it will require Premier League approval and could pave the way for a full takeover of Palace. Whether such a deal satisfies UEFA’s regulatory concerns is unclear.

Former Morgan Stanley executive Bejan Esmaili and ex-Roc Nation attorney Wajid Mir lead the group. They held a period of exclusivity with Textor, but it lapsed earlier this year.

However, the group has returned with renewed backing from American investors with prior experience in football ownership.

Six-time NBA All-Star and Golden State Warriors Butler is the group’s most high-profile figure.

The former Miami Heat and Chicago Bulls star joins a growing list of US athletes investing in English football, including Tom Brady (Birmingham City) and JJ Watt (Burnley).

LA Lakers power forward LeBron James also owns a stake in Liverpool via Fenway Sports Group (FSG).