John Textor's Strategic Move: Selling Crystal Palace Shares to Secure Europa League Spot

Crystal Palace part-owner John Textor is making significant progress in negotiations with New York Jets owner Woody Johnson to sell his stake in the Premier League club. This potential deal, valued at approximately £190 million, could be pivotal in enhancing Palace's chances of participating in the Europa League next season.

The Deal's Implications

Insiders familiar with the proposed deal have revealed that Johnson is currently leading the race to acquire the 43% stake in Crystal Palace owned by Eagle Football Holdings, Textor's multi-club company. While the deal has not yet been finalized, it is reportedly in its closing stages. Johnson's ability to transfer funds swiftly is a crucial factor that makes his offer the most favorable, especially given Palace's current predicament with UEFA regarding their eligibility for the Europa League.

UEFA's Scrutiny

Crystal Palace's participation in next season's Europa League is under threat due to Textor's involvement in the club. UEFA is currently investigating whether Palace has violated rules concerning multi-club ownership structures, as Textor also holds a stake in French club Lyon, which has also qualified for the Europa League. The outcome of this investigation could significantly impact Palace's European aspirations.

Potential Buyers and Their Interests

Aside from Johnson, two other parties have shown interest in acquiring Textor's stake in Crystal Palace. A globally-renowned entertainment giant based in Florida and a consortium that includes NBA star Jimmy Butler are reportedly among the potential buyers. Additionally, investment vehicle Sportsbank, which was previously named as the preferred bidder, has also expressed interest. However, Sportsbank's need to gather financial contributions from Middle Eastern and US investors would take approximately a month, which does not align with Textor's urgency to secure a quick sale.

Johnson's Advantage

Johnson is considered the most suitable candidate among the interested parties to pass the Premier League's owner's and directors test. With an estimated fortune of £3.39 billion and his status as a globally-renowned businessman, Johnson is well-positioned to take over Textor's stake. As the heir to the Johnson & Johnson pharmaceutical company, Johnson brings significant financial stability and credibility to the table.

UEFA's Decision Awaited

UEFA is expected to make a final decision on Crystal Palace's eligibility for the Europa League by the end of June. The outcome of Textor's negotiations and the potential sale of his shares could play a crucial role in determining whether Palace can compete in Europe next season.

Conclusion

John Textor's decision to sell his shares in Crystal Palace is a strategic move aimed at securing the club's participation in the Europa League. With Woody Johnson leading the race to acquire the stake, the deal could provide the financial boost needed to navigate UEFA's scrutiny and keep Palace's European dream alive.