Crystal Palace’s multi-millionaire American co-owner John Textor has issued a 1,100-word statement today to confirm that he wants to sell his shares in the club in order to buy a chunk of Premier League rivals Everton.
He has made the announcement after offers to buy-out the three other co-owners at Palace received no response, he says.
Textor’s switch of loyalty from one Premier League club to another has been brewing all year. “Everton represents the best of English football. How great would it be to take one of these great English clubs back to sort of glory?” Textor was reported to say earlier this year.
The announcement puts Palace in the mix of turmoil and transition as the season is getting underway, with key members of the playing squad either being transferred or subject to significant transfer bids, while the club continues with its plans to build a £150million main stand.
“Just a 1,100-word statement from part-owner John Textor, [Joachim] Andersen set to join Fulham for £30million, [Jordan] Ayew off to Leicester for £8million, [Marc] Guehi to Newcastle, rumours galore and links to roughly 63 different potential signings over the last 48 hours then,” tweeted the editor of one Palace fanzine. “It’s all so calm and peaceful.”
Toffees fan: John Textor says his offers to buy-out Palace’s other co-owners were ignored
Tech entrepreneur Textor bought roughly 40% of Crystal Palace in 2021 for £90million, joining Apollo co-founder Josh Harris, Blackstone executive David Blitzer and chairman Steve Parish on the four-man board of directors.
Although Textor’s Eagle Football is the largest single shareholder in Palace, now at 45%, Textor has only equal voting rights with the club’s other directors.
In his statement, Textor confirmed: “We are interested in selling our interest in Crystal Palace, largely so that we can pursue a relationship with the Everton club and community.”
He said that he been considering “either a purchase of a majority interest in Palace or an outright sale”, but was now focused on Everton as he doesn’t believe Parish and other Palace share-holders will sell.
“Before we decided to leave one family, to join another, we did try to do everything possible to stay connected with the club and community of Crystal Palace. If supporters don’t switch allegiances easily, owners shouldn’t either.”
He said: “We made an offer to buy the remaining shares of Crystal Palace… We respected our partners enough to offer fair value.”
Textor wrote of his pride in being connected to Palace. “We have enjoyed every last moment as Palace fans. We attended games as a family, home and away. Even though I wasn’t able to hit the pubs with fans, as much as my two boys did, I always looked forward to hearing their stories of the ‘away days’ (like nearly getting thrown off of a bridge for wearing Palace colors away at Forest, before getting dragged up by the neck by three older Palace fans).”
And on Everton, Textor said: “We have no expectation of immediate acceptance as we show up in a new town, with Palace gear stored in our trunks, and memories that we will cherish forever. Trust is not earned quickly with supporters, but I do believe that we are uniquely qualified to serve and deliver results, and I do believe that it is more likely, than not, that I will be referring to a new club and community as ‘my club’, sometime soon. Only time will tell.”
“Lively statement,” according to respected football journalist Henry Winter.
“If he does sell his Palace shares first, and then gets approval for Everton takeover, Textor’s ownership will be worth a Netflix six-parter, especially if he scripts it.”
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