John Textor is launching his plan for an ambitious takeover of Crystal Palace as the American businessman aims to take his stake in the club to over 80 per cent.
As reported by The Guardian, Textor faces competition from NY Jets owner Woody Johnson in his quest to secure a takeover of Palace.
Textor, 59, has had discussions with compatriots David Blitzer and Josh Harris regarding purchasing their shares in Palace, which are worth around 36 per cent of the club.
Should he be successful in purchasing those shares, Textor would take his stake to 80 per cent, which would enable him to complete a full takeover.
That could threaten the future at the club of co-owner and chairman Steve Parish.
The former executive chairman of streaming service Fubo TV, Textor is the majority owner of Eagle Football Holdings Limited, which is the leading shareholder of Palace, Botafogo, Lyon and RWD Molenbeek.
John Textor (L) is launching a plan for a takeover of Crystal Palace which could threaten the future of Steve Parish (R) at the club
NY Jets owner Woody Johnson could rival Textor in his quest to secure a takeover
If Parish takes his shareholding to 80 per cent then it could lead to uncertainty over Parish
Parish was left frustrated with Textor when the latter increased his stake in Palace to 45 per cent in 2023, with relations between the pair remaining distant.
Subsequently, Parish has held preliminary talks with Johnson regarding the possibility of buying out Textor and other shareholders.
Johnson attended Palace’s game against Nottingham Forest this week, where he was seen with Parish.
Although Parish owns 10 per cent of Palace he effectively retains overall control. He helped to save Palace from administration in 2010.
In March Dougie Freedman left his position as Palace’s sporting director, while chief financial officer Sean O’Loughlin departed the club this week.
Palace, who are in 12th place in the Premier League with three rounds of fixtures remaining, are through to the final of the FA Cup, where they will face Manchester City on May 17.
