Latest news with #EagleFootball
BBC News
13 hours ago
- Business
- BBC News
Textor advancing in talks over selling Palace shares
Crystal Palace part-owner John Textor is advancing in talks with New York Jets owner Woody Johnson to sell his stake in the Premier League deal - understood to be worth in the region of £190m - could be key towards boosting the club's hopes of being cleared to play in Europe next with knowledge of the proposed deal have indicated that Johnson is ahead of two other parties in the race to purchase the 43% stake in Palace owned by Eagle Football Holdings – Textor's multi-club insist a deal for Johnson to purchase Eagle's stake in the Selhurst Park club is yet to ratified, but is in its closing is understood that Johnson has indicated he can transfer the funds quickly, which is a crucial factor as to why the American businessman's offer is currently viewed as the most favourable given the predicament Palace find themselves in with Uefa regarding entry into next season's Europa face losing their spot in next season's competition, earned after winning last season's FA Cup, due to Textor's perceived involvement in the football's governing body Uefa are currently ascertaining whether Palace have breached their rules over multi-club ownership structures as Textor also holds a stake in French club Lyon, who have qualified for the Europa League next season. Whether the process of Textor selling his stake in Palace influences Uefa's final decision remains to be it does provide an indication the businessman is open to severing ties with Palace, an eventual scenario that could allow the Premier League club entry into the Europa other two parties in the running are unconfirmed but well-placed sources have indicated that a globally-renowned entertainment giant based in Florida have shown an interest, while another consortium that includes the NBA star Jimmy Butler also have a reported vehicle Sportsbank – who were named as the preferred bidder to buy into Eagle at a time Textor was looking for investment – have also shown an interest in making an it is claimed that it would have taken around a month for Sportsbank to draw the financial contributions from their investors from the Middle East and the US which would not suit Textor's need for a quick sale to help aid Palace's case with claim that Johnson is best placed among the interested parties to pass the Premier League's owner's and directors test given his estimated £3.39bn fortune and his status as globally-renowned businessman. He is the heir to the Johnson & Johnson pharmaceutical are expected to make a decision on whether Palace can participate in the Europa League by the end of June.
Evening Standard
3 days ago
- Business
- Evening Standard
Why Crystal Palace case for Europa League spot is different to banned Drogheda
Textor has been in talks to sell Eagle Football's 43 per cent stake in Palace in a bid to clear the path for them to play in the Europa League, while he has also listed Eagle Football company for an initial public offering (IPO). An IPO is when a private company first sells shares to the public.
Yahoo
4 days ago
- Business
- Yahoo
Crystal Palace ownership saga takes fresh twist amid fight to stay in Europa League
Crystal Palace majority shareholder John Textor has listed his Eagle Football company for an initial public offering (IPO) in America, in the latest twist to the ownership situation at Selhurst Park. An IPO is when a private company first sells shares to the public. Advertisement Textor has been in talks to sell Eagle Football's 43 per cent stake in Palace in a bid to clear the path for them to play in the Europa League next season. FA Cup winners Palace are facing the prospect of being kicked out of the Europa League because Textor also owns a majority stake in Ligue 1 side Lyon. Although Textor has no day-to-day involvement in the running of Palace, UEFA rules prevent two teams with the same ownership playing in the same competition. It emerged last week that Textor was considering offers for Eagle Football's stake in Palace, with New York Jets owner Woody Johnson among those in talks over a £170million deal. Advertisement A consortium of sport and entertainment executives, which includes the NBA star Jimmy Butler, has also been linked with an offer for Palace. In the latest twist to the Palace ownership saga, a statement from Eagle Football said: 'Eagle Football Holdings announced that it has confidentially submitted a draft registration statement on Form S-1 to the US Securities and Exchange Commission (SEC) relating to the proposed initial public offering of its ordinary shares. 'The size and price range for the proposed offering have yet to be determined. The initial public offering is subject to market and other conditions and the completion of the SEC's review process.'
The Guardian
5 days ago
- Business
- The Guardian
John Textor provides another twist in Crystal Palace ownership saga
The Crystal Palace ownership saga has taken another twist with the club's largest shareholder, John Textor, listing his holding company Eagle Football for an initial public offering in the US. Textor's multi-club operation, which also owns majority shares in Lyon and Botafogo, has submitted a draft registration statement to the US Securities and Exchange Commission. An IPO is when a private company first sells shares to the public. Eagle documents seen by the Guardian show that the company has made a confidential S-1 filing, with institutional investors invited to buy shares in it. Neither the volume nor prices of the shares to be listed has been made public. Eagle has sustained heavy losses in recent years largely due to its big spending at Lyon, rather than Palace. Textor first announced plans for an Eagle IPO, which would be the first conducted by a multi-club football group, with a company valuation of $2bn (£1.47bn) last November, but the timing of the listing is curious given his involvement in sale talks at Palace, and the uncertainty over whether the club will be allowed to compete in the Europa League next season. Textor declined to comment or discuss his intentions. Lyon have also qualified for the competition and Uefa rules prevent clubs with the same owners both taking part. As previously revealed by the Guardian, Uefa has rejected an offer by Textor to put his 44.9% stake in Palace into a blind trust as he missed the 1 March deadline, and the American has since stepped up his efforts to sell. The Guardian reported on Thursday that the New York Jets owner, Woody Johnson, has offered £190m to buy Textor's shares in a move that would be welcomed by the club chairman, Steve Parish, although that price is believed to be considerably short of his valuation. A consortium including NBA star Jimmy Butler and investment company Sportsbank has also made an offer. Textor's preference would be to sell to fellow shareholders Josh Harris and David Blitzer, who each own 18% of the club, but despite months of negotiations they have been unable to agree on a price. Textor has spent around £180m on Palace since buying an initial 40% stake for £87m four years ago, with his investment crucial to the redevelopment of the club's training ground and funding numerous player purchases, and is reluctant to sell at a big loss. Palace have expressed confidence they will be cleared by Uefa to take part in the Europa League on the grounds that Textor does not have a 'decisive influence' at the club, and if they are thrown out are likely to appeal to the court of arbitration for sport. Uefa made renewed contact with Palace seeking clarification on elements of their submissions last week, which the club have interpreted as a positive sign. In a potentially worrying development for Palace, Drogheda United were expelled from the Conference League last week due to multi-club issues. The Irish Premier League club are owner by the American investors Trivela Group, whose Danish club Silkeborg have also qualified for the competition and been given primacy by Uefa as they finished higher in their domestic league. Sign up to Football Daily Kick off your evenings with the Guardian's take on the world of football after newsletter promotion Drogheda responded by saying they will take the matter to Cas, and the Palace case also appears destined to be decided by the court in Lausanne. To complicate matters further, Nottingham Forest would be promoted from the Conference League to the Europa League if Palace are banned by Uefa. Forest have written to Uefa outlining their position and they, in turn, could take the matter to Cas if Palace are allowed to stay in the Europa League.
Yahoo
5 days ago
- Business
- Yahoo
John Textor provides another twist in Crystal Palace ownership saga
The Crystal Palace ownership saga has taken another twist with the club's largest shareholder, John Textor, listing his holding company Eagle Football for an initial public offering in the US. Textor's multi-club operation, which also owns majority shares in Lyon and Botafogo, has submitted a draft registration statement to the US Securities and Exchange Commission. An IPO is when a private company first sells shares to the public. Advertisement Eagle documents seen by the Guardian show that the company has made a confidential S-1 filing, with institutional investors invited to buy shares in it. Neither the volume nor prices of the shares to be listed has been made public. Eagle has sustained heavy losses in recent years largely due to its big spending at Lyon, rather than Palace. Textor first announced plans for an Eagle IPO, which would be the first conducted by a multi-club football group, with a company valuation of $2bn (£1.47bn) last November, but the timing of the listing is curious given his involvement in sale talks at Palace, and the uncertainty over whether the club will be allowed to compete in the Europa League next season. Textor declined to comment or discuss his intentions. Lyon have also qualified for the competition and Uefa rules prevent clubs with the same owners both taking part. As previously revealed by the Guardian, Uefa has rejected an offer by Textor to put his 44.9% stake in Palace into a blind trust as he missed the 1 March deadline, and the American has since stepped up his efforts to sell. The Guardian reported on Thursday that the New York Jets owner, Woody Johnson, has offered £190m to buy Textor's shares in a move that would be welcomed by the club chairman, Steve Parish, although that price is believed to be considerably short of his valuation. A consortium including NBA star Jimmy Butler and investment company Sportsbank has also made an offer. Advertisement Textor's preference would be to sell to fellow shareholders Josh Harris and David Blitzer, who each own 18% of the club, but despite months of negotiations they have been unable to agree on a price. Textor has spent around £180m on Palace since buying an initial 40% stake for £87m four years ago, with his investment crucial to the redevelopment of the club's training ground and funding numerous player purchases, and is reluctant to sell at a big loss. Palace have expressed confidence they will be cleared by Uefa to take part in the Europa League on the grounds that Textor does not have a 'decisive influence' at the club, and if they are thrown out are likely to appeal to the court of arbitration for sport. Uefa made renewed contact with Palace seeking clarification on elements of their submissions last week, which the club have interpreted as a positive sign. In a potentially worrying development for Palace, Drogheda United were expelled from the Conference League last week due to multi-club issues. The Irish Premier League club are owner by the American investors Trivela Group, whose Danish club Silkeborg have also qualified for the competition and been given primacy by Uefa as they finished higher in their domestic league. Drogheda responded by saying they will take the matter to Cas, and the Palace case also appears destined to be decided by the court in Lausanne. To complicate matters further, Nottingham Forest would be promoted from the Conference League to the Europa League if Palace are banned by Uefa. Forest have written to Uefa outlining their position and they, in turn, could take the matter to Cas if Palace are allowed to stay in the Europa League.
