John Textor launches plan for audacious takeover of Crystal Palace

John Textor is attempting an audacious takeover of Crystal Palace but faces contention from the New York Jets proprietor Woody Johnson arsenic the conflict for power astatine Selhurst Park heats up earlier the club’s quality successful the FA Cup last adjacent Saturday.

It is understood that Textor, who failed successful his bid to bargain Everton past year, has held talks with his chap American shareholders David Blitzer and Josh Harris astir buying their shares successful Palace, which represent astir 36% of the club. That would instrumentality Textor’s involvement to much than 80% and mean helium would beryllium capable to implicit a afloat takeover – a concern that could endanger the aboriginal of the long-serving chairman, Steve Parish.

Parish and Textor fell retired successful 2023 erstwhile the American, who besides owns the French nine Lyon, the Brazilian broadside Botafogo and RWD Molenbeek successful Belgium, accrued his involvement successful Palace to 45%. It is understood they stay distant, with Parish believed to person held preliminary talks with Johnson astir perchance buying retired Textor and the different shareholders. The 78-year-old Johnson, who was the United States ambassador to the UK, was seen with Parish astatine Palace’s crippled against Nottingham Forest connected Monday.

Parish owns conscionable implicit 10% of the nine helium helped to prevention from medication successful 2010 but efficaciously retains wide control. He is the enforcement president of the managing institution which is successful complaint of Palace, with the 4 partners – Parish, Textor, Blitzer and Harris – having adjacent voting rights connected the committee but Parish has the casting vote.

Textor antecedently signalled his volition to merchantability his involvement successful Palace aft increasing frustrated astatine his deficiency of power successful recruitment and different areas. In January helium signed an exclusivity agreement with Sportsbank – agroup of investors fronted by 2 Palace supporters – for it to put successful his institution Eagle Football Holdings with a presumption to perchance taking his spot connected the Palace board. But it is understood helium would present similar to propulsion up with a takeover of the nine wherever helium is estimated to person invested astir £150m since 2021.

New York Jets proprietor Woody Johnson. Photograph: David Zalubowski/AP

Harris and Blitzer, who bought their involvement successful 2015 and person portfolios of investments crossed a fig of sports, are believed to beryllium consenting to merchantability owing to concerns astir the ballooning costs of gathering a caller main basal astatine Selhurst Park, which immoderate sources are predicting could scope up to £240m. Palace stay committed to the project, which would summation the capableness to much than 34,000, and readying support was granted successful 2022, though enactment has yet to begin.

Despite Palace’s occurrence nether their manager, Oliver Glasner, including reaching their 3rd FA Cup final, it has been a turbulent fewer months down the scenes. The highly regarded sporting manager Dougie Freedman near to articulation the Saudi Arabian nine Al-Diriyah successful March and is believed to person been frustrated with having a constricted fund during the January transportation window. The main fiscal serviceman Sean O’Loughlin departed this week and the long-serving main operating serviceman Sharon Lacey has joined the US nine Fort Lauderdale United.