Sportsbank seeks to invest in Eagle Football while asking John Textor to maintain his stake in Crystal Palace amid ongoing interest.
London: So, here’s the scoop. Sportsbank, a global sports consortium, is looking to invest in Eagle Football. But they want John Textor to keep his 45% stake in Crystal Palace. Sounds like a plan, right?
Word on the street is that Sportsbank is one of three groups interested in Eagle Football, which also owns Lyon and Botafogo. Pretty big players in the game!
Now, the other two groups are keen on buying Textor’s stake directly instead of going through Eagle Football. It’s a bit of a tug-of-war over who gets what.
Textor’s group also has a stake in RWD Molenbeek over in Belgium. He was close to snagging Everton this summer, but that deal went to the Friedkin Group instead.
Sportsbank was founded by Zechariah Janjua and Navshir Jaffer, with some solid advice from Keith Harris, a guy who knows his way around football takeovers. He’s worked with clubs like Manchester City and Aston Villa.
Textor has been eyeing a majority stake in a Premier League or Championship club for a while now. It seems Sportsbank’s interest is all about helping him get a bigger piece of the Palace pie.
The Raine Group is on board to manage this whole process, which could lead to Textor selling his stake to one of those other interested parties. It’s all very strategic.
Besides Textor, Josh Harris and David Blitzer each hold 10% stakes in the club, along with chairman Steve Parish, who has the final say on important decisions.
Back in August 2021, Textor put in £86 million for a 40% stake. He’s been vocal about wanting to own 100% of the club, saying he’s tried everything to make it happen.
Recently, Eagle Football Holdings mentioned they expect to find a buyer by early November 2024. So, stay tuned!