Donald Trump ally bids for £170m Crystal Palace stake

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21 hours ago

John Textor is considering three offers for his stake in Crystal Palace – including one from Donald Trump ally Woody Johnson.
A quick sale could rescue the Premier League side from the threat of expulsion from the Europa League.
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Telegraph Sport understands Johnson, the New York Jets owner, tabled a 43 per cent purchase proposal, marginally less in overall value than two others being discussed.
Raine Group, the New York broker which secured sales for Chelsea and Manchester United, had been in discussion with parties on behalf of Textor since last year.
However, the American is conscious of the club's need to now secure a quick transaction to guarantee European competition next season. A rapid sale for as little as £170 million has been mooted for Eagle Football Holdings' 43 per cent stake as Textor's ownership of Lyon leaves Palace facing the threat of being barred from Europe's second tier.
Johnson with Donald Trump in 2011 - Getty Images/Al Pereira
Industry insiders believe a purchase of Textor's shares by the current co-owners, Josh Harris and David Blitzer, is the most likely outcome this summer. However, options include at least two other proposals from the US, one of which has been established for months. A deal with Johnson, 78, is viewed as an outside shot. He is a controversial figure in US sport, with the New York Jets facing scrutiny last year following reports of 'controversial and dysfunctional practices' under his watch.
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Johnson bought the New York Jets in 2000, with the NFL franchise now estimated to be worth around $6.9 billion. The Jets' $1.6 billion MetLife Stadium will host next year's World Cup final.
Johnson is also well-known in UK politics. The long-time Republican Party donor was appointed as US ambassador to the UK during Trump's first term. His brother, Christopher, took over Jets operations during his post. The American businessman has long been interested in buying a Premier League club, having approached Raine about Chelsea in 2022.
Johnson (far left) and his wife Suzanne Ircha (far right) host the then Prince of Wales and Duchess of Cornwall along with Donald and Melania Trump at the US ambassador's residence in London in 2019 - Getty Images/Chris Jackson
Other suitors for Palace, meanwhile, are believed to include NBA star Jimmy Butler, part of a consortium of sport and entertainment executives that is expected to make an offer. That separate proposal was first reported by The Athletic on Wednesday night. Another international consortium advised by the veteran football financier Keith Harris also previously expressed interest. Mr Harris's group would probably execute its deal through the recently incorporated Sportbank vehicle. The Sportsbank consortium – worth upwards of £200 million – is said to be made up of a collection of investors from North America, Europe and the Gulf.
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Textor, who previously expressed interest in buying Everton, is willing to find another club as soon as possible. Textor acquired his holding in Palace in 2021 for about £90 million. His multi-club network Eagle Football also includes French club Lyon, Rio-based Botafogo and RWD Molenbeek in Belgium. His priority is to pursue a club which can accept players across the group.
Crystal Palace's overall value is said to be about £500 million – around the same price that Everton were valued at, minus debt, during Farhad Moshiri's protracted sale.
Stanley Tang, of the US-based food delivery company DoorDash, denied suggestions that he was also in discussions to buy Textor's stake.
Chairman Steve Parish, Textor and his fellow US businessmen Harris and Blitzer oversee the running of the Selhurst Park club as general partners. However, Textor has repeatedly hinted at frustrations that he does not exert as much control as he would like.
Crystal Palace co-owner John Textor (left) and chairman Steve Parish (right) celebrate the club's FA Cup win - AP/Dave Shopland
Uefa is set to inform Palace whether they are in breach of its multi-club ownership rules by June 30 – although the matter may then be taken to the Court of Arbitration for Sport (Cas) which would delay a final verdict.
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The FA Cup winners met Uefa officials last week in a two-hour meeting in an attempt to avoid being barred. Palace insist there is no sharing of information or staff or facilities with the French side. The club argue that despite Textor's shareholding, he has no say in the day-to-day running and has just 25 per cent of voting rights.
Nottingham Forest have written a letter to Uefa expressing their position and asking for clarification over whether Palace will be involved. Forest could be moved up from the Europa Conference League to the Europa League if Palace are disqualified.
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