Crystal Palace co-owner John Textor submitted full ownership bid – but will now focus on Everton takeover
Crystal Palace co-owner John Textor believes he has failed in an attempt to buy the remaining shares in the club.
The American businessman confirmed that chairman Steve Parish and fellow investors Josh Harris and David Blitzer have not responded to his offer, and he will now focus on acquiring fellow Premier League side Everton.
Textor has entered a period of exclusivity after talks with Everton majority owner Farhad Moshiri.
The 58-year-old, who runs Eagle Football Holdings, also has majority stakes in Brazilian side Botafogo, Belgian outfit RWD Molenbeek and Ligue 1 club Lyon.
Textor initially invested £87.5million into Crystal Palace in 2021 to take control of 40 per cent of the club. He increased his shareholding by five per cent after investing a further £30m into the Eagles.
Textor wrote on his website: “We can confirm that we are interested in selling our interest in Crystal Palace, largely so that we can pursue a relationship with the Everton club and community.
“Several months ago, we hired Raine Group to begin the process of evaluating alternatives, as we were considering two very different alternatives, at that time, either a purchase of a majority interest in Palace or an outright sale.
“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.
“We did so with a strong belief that Palace has become a much more valuable club, since 2021, and we respected our partners enough to offer fair value, regardless of circumstances.
“It is also true that our offer did not induce a response, and we believe that our Palace partners have the same desire to remain in ownership as we once did…so our Raine Group efforts to sell our interests resumed.
“We have a significant number of parties active in our process, we have received strong indications from qualified buyers, and we believe strongly that we can complete a sale of our interests to continue moving forward with the next community we hope to serve, embrace and enjoy.”
PICTURE: KEITH GILLARD