Woody Johnson makes £190m bid for Textor's Crystal Palace shares as Uefa delays decision
The offer from Johnson, the former US ambassador to the UK, has the backing of Palace's co-chair Steve Parish and is believed to be under consideration by Textor despite falling significantly short of his valuation of about £240m for his 44.9% stake.
Advertisement
That figure is based on his failed attempt to buy out Parish and his fellow co-owners Josh Harris and David Blitzer in April, when a £550m bid was rebuffed. Textor is understood to be prepared to accept up to £50m less than his valuation after Harris and Blitzer turned down an opportunity to buy his stake at the discounted price. A consortium that includes the NBA star Jimmy Butler and Sportsbank, which has held talks with Textor about investing in Palace, is also in the frame.
Download the Guardian app from the iOS App Store on iPhone or the Google Play store on Android by searching for 'The Guardian'.
If you already have the Guardian app, make sure you're on the most recent version.
In the Guardian app, tap the Menu button at the bottom right, then go to Settings (the gear icon), then Notifications.
Turn on sport notifications.
All four Palace co-owners were part of the club delegation that attended a meeting at Uefa's headquarters in Nyon this month and argued that Textor, the majority shareholder in the French club Lyon, who have also qualified for next season's Europa League, does not have a decisive influence at Selhurst Park despite being the largest shareholder. As reported by the Guardian, Uefa rejected attempts by Textor and Blitzer to place their shares in a blind trust because they missed 1 March deadline. Blitzer's Danish club, Brøndby, have qualified for the Conference League.
A decision on Palace had been expected imminently but sources at Uefa have indicated its club financial control body (CFCB) would like more time to consider the case, with the end of June regarded as more realistic. That could give Textor an opportunity to complete a sale – a move that would also be viewed favourably by Uefa – although he is believed to be reluctant to rush through a deal having spent about £180m since purchasing his original 40% stake in August 2021.
Palace are understood to remain confident they will be cleared to participate in the Europa League having been in regular contact with the CFCB since their meeting in Nyon. But if they do get the green light, Nottingham Forest could appeal to the court of arbitration for sport after they wrote to Uefa this week raising concerns about a potential breach of multi-club ownership rules by Palace.
Advertisement
Forest, whose owner, Evangelos Marinakis, is close to Textor, would stand to be promoted from the Conference League if Palace are banned by Uefa. Brighton would then be in line to take Forest's Conference League place after finishing eighth in the Premier League.
It is understood Brighton have no intention of making a complaint to Uefa and would be unlikely to join Forest in any legal action to prevent Palace, their arch-rivals, from competing in Europe.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
25 minutes ago
- Yahoo
Jorge Costa, who captained FC Porto to Champions League title, dead at 53
FC Porto legend Jorge Costa has died after suffering cardiac arrest on Tuesday. He was 53 years old. Costa played the majority of his professional career with the Portuguese side making 251 appearances between 1990-2005. He served as club captain and won 24 trophies, including eight league titles and the 2003 UEFA Cup and 2004 Champions League. The defender also made 50 appearances for Portugal's senior team and represented his country at Euro 2000 and the 2002 World Cup. Costa played for four other clubs — Penafiel, Maritimo, Charlton Athletic and Standard Liège — during his playing career. He would then move into management, guiding teams such as Braga, AEL Limassol and AVS, among many others. After his time at AVS ended last year, Costa returned to FC Porto to serve as the club's director of football. In a statement, FC Porto said it "expresses its deepest sadness and consternation at the passing of an inescapable figure in the club's history" and that "Jorge Costa's legacy will forever live on in the memory of all Porto fans. You will never be forgotten, Captain."
Yahoo
25 minutes ago
- Yahoo
Jim Cramer on Apple: 'Own it, Don't Trade It'
Apple Inc. (NASDAQ:AAPL) is one of the stocks that Jim Cramer spoke about. During the episode Cramer discussed the company's earnings and he commented: 'Now, we also heard from Apple, whose sales and earnings came in substantially better thanks to surprisingly strong iPhone sales. Even though Chinese business improved, people always want to write off, Apple's a no-growth company, best days behind them. But they just put up 10% revenue growth. A reminder that this remains one of the greatest companies on earth. You know what I say? Own it, don't trade it.' brandon-romanchuk-NOFyRmSQfUQ-unsplash Apple (NASDAQ:AAPL) designs and sells smartphones, computers, tablets, wearables, and accessories. The company also provides cloud, support, and digital content services. Cramer mentioned the company in a June episode. He remarked: 'Apple's pulling off something amazing, moving about 20% of their iPhone manufacturing to India, but the rest are still coming from China. Still, the White House doesn't care. They want those phones made in America, so they're threatening a 25% tariff on the ones from India… What a shame. Apple is a huge employer in China, and China's a huge market for Apple, but the White House is making them leave, and they're not even getting any credit for it. While we acknowledge the potential of AAPL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on thebest short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Tom's Guide
26 minutes ago
- Tom's Guide
Now this is more like it! Save $440 off the Galaxy Edge 25 for a limited time
Even though the Galaxy S25 Edge dazzled me for its super thin design, its price on the other hand made it impossible to recommend. That's until now because for a limited time, Mint Mobile has the Galaxy S25 Edge on sale for $660 which is $440 off one of the thinnest and lightest phones around. Mint Mobile is offering this instant discount when you buy the phone and activate it on one of its unlimited cell phone plans. Normally you'd pay $1,100 for just the phone, but this deal drops the price of the phone to $660 — while another $360 is tacked on for the two years of unlimited data service with Mint Mobile. In total, you're paying $1,020 at checkout, which is still less than buying the phone outright. The Galaxy S25 Edge is getting one of its biggest discounts to date, thanks to Mint Mobile's offer that drops the price by $440 off. It's remarkably thin and light, while packing a punch with its Snapdragon 8 Elite chip — the same CPU powering other flagship Android phones. In my Galaxy S25 Edge review, I said how its thin design is without a doubt its biggest feature. Compared to some of the best phones you can buy, the Galaxy S25 Edge is remarkably thinner and will change your expectations around thin phones. I thought I knew what it takes to be thin and light, but the Galaxy S25 Edge's design really puts things in perspective. Since it's powered by the Snapdragon 8 Elite, the same chip used by many of the best Android phones, the Galaxy S25 Edge achieves the same level of performance and snappiness as other flagships like the Galaxy S25 Ultra and OnePlus 13. I personally love how it handles intensive gaming titles with smooth frame rates, which makes some action titles look even better with its 6.7-inch AMOLED display. There's also the dual camera system, which consists of a 200MP main shooter paired with a 12MP ultrawide. The main camera is extremely versatile, matching the performance of the Galaxy S25 Ultra — including low light, where it does really nice to brighten up the shot. My only complaint about the camera system is that it doesn't have a dedicated telephoto zoom camera. Obviously, you'll be able to zoom using the main camera, but it doesn't capture as sharp photos as the S25 Ultra. And finally, there's all the Galaxy AI features it offers. It has everything that the Galaxy S25 Ultra offers, including cross app actions, the now bar, and more. If you're all about getting stuff done on your phone, the Galaxy S25 Edge doesn't disappoint with its multitasking capabilities — including support for Samsung DeX. Even though there's more to be desired from its battery performance, it still has enough juice to get you through a work day. It's also worth pointing out Mint Mobile's unlimited data plan, which is one of the best around. Not only does it offer unlimited talk, text, and data, but you also get unlimited mobile hotspot as well. People often forget the cost of the service attached to a phone, but you're saving big with Mint over a traditional wireless carrier.
