John Textor may be the Majority Owner of Crystal Palace Soon

John Textor, an investor in Belgium’s RWD Molenbeek and Brazil’s Botafogo clubs, is reportedly looking to increase his 40% stake in Crystal Palace FC.

Founder of Eagle Football LLC and previously the leading shareholder in sports-focused streaming platform FuboTV, Textor purchased his initial stake in the team for roughly $118.8 million just last year. He also became a director and fourth partner of the team. 

Two of the team’s co-owners, David Blitzer and Josh Harris, are reportedly interested in selling their shares, with the latter reportedly bidding on Chelsea FC — a move that would likely require him to offload his Crystal Palace shares if he wins the bid. 

• Harris’ bid is part of a consortium that includes businessman Vivek Ranadive and former Liverpool FC chairman Martin Broughton.
• The New Jersey Devils and Philadelphia 76ers owner also co-founded asset manager Apollo Global Management.

Crystal’s Cut

Crystal Palace reported a loss of roughly $76.6 million before tax in the 13 months that ended July 31, 2020.

Crystal Palace’s current valuation is not clear, and the club was not listed on Forbes’ 2021 list for the 20 highest-valued soccer clubs. Dutch club Ajax was 20th with a $413 million value.