American businessman John Textor controlling 90 percent of Olympique Lyonnais and 43 percent of Crystal Palace. In the years since the club’s FA Cup triumph, he has been forced to operate under an ownership structure that has become labyrinthine. Despite his happiness for the team, Textor expressed concerns about the future of his involvement with the club, especially with ongoing negotiations surrounding his stake in Palace.
Textor’s primary organization, Eagle Football Holdings, named after Crystal Palace’s nickname, holds significant investments in football. In addition to Crystal Palace, it owns Brazilian club Botafogo and Belgian side Racing Brussels. As he prepares to sell a portion of his stake to Woody Johnson for approximately £190 million, Textor’s ambitions for Palace remain intact. He had already negotiated a plan to personally buy a controlling stake. Along the way, he encountered roadblocks that required him to adapt his approach.
Ownership Transition and Stake Sales
Not even a year into her journey with Crystal Palace, Textor’s tenure has been a whirlwind of upheaval and turmoil. He originally intended to purchase 75 per cent of the club. His task was not without obstacles that required him to rethink his strategy. The move to divest some of his stake has, however, had him pondering the ramifications of football ownership.
He conceded that changes in ownership rules implemented earlier this year added to the confusion and made things even harder to handle. He still holds a controlling stake of 43 percent. He understands that absent an outright controlling share, it’ll be difficult to exercise truly decisive influence. He stated:
“I think we all take responsibility as owners. I’ll admit to not even thinking about the issue. I read the rule too, please read it yourself.” – John Textor
Even with these obstacles, Textor is upbeat about his new club’s prospects. His ambition is more than merely surviving in the Premier League but rather hopes for European competition.
“If you have decisive influence, you may have to consider this. I didn’t and I don’t, and if I did I would’ve had to consider selling in June 2024.” – John Textor
Textor’s ambition for Crystal Palace is to focus keenly on pushing the club toward European qualification. He’s convinced that with proper investment the club can move in the right direction, growing and competing further up the football pyramid. His perspective on Steve Parish’s management philosophy reflects a pragmatic approach, focusing on avoiding relegation while building for future success.
Ambitions and Challenges Ahead
Textor’s recent experiences have made him gun shy. He expressed regret over having to divest part of his shareholding shortly after contemplating a controlling stake.
If the complexities of football ownership in general weren’t enough to demonstrate the difficulty for investors, look no further than Colorado. Textor’s dissatisfaction stems from the feeling that he could not make critical management decisions despite maintaining a significant equity position:
“I felt bad but it doesn’t mean I had decisive influence. The rules say they should be in.” – John Textor
Even with the vague nature of his ownership stake, Textor was happy to see Crystal Palace succeed this past year. And when the team earned an upset victory in the FA Cup, his personal accomplishment and reminder of his bond with the club made him happy too. Reflecting on the moment, he stated:
“The document I signed says I have no entitlement to have a role in management decisions. UEFA have seen that document.” – John Textor
Reflections on Recent Successes
His mixed emotions illustrate the duality of being an investor in football. Celebrating success while grappling with ownership responsibilities and business realities.
“I was so happy when they lifted the FA Cup. But I felt the gravity while they were holding the cup; I couldn’t have been happier for the fans. But I was worried about what was coming there and then.” – John Textor
His mixed emotions illustrate the duality of being an investor in football—celebrating success while grappling with ownership responsibilities and business realities.
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