Textor advancing in talks over selling Palace shares

John Textor, a part-owner of Crystal Palace, is pursuing a sale of his stake in the Premier League team with Woody Johnson, the owner of the New York Jets.

The agreement, which is thought to be worth around £190 million, could help the club’s chances of winning the European Cup next year.

Johnson is ahead of two other parties in the race to acquire the 43% stake in the multi-club Eagle Football Holdings – Textor-owned Palace, according to insiders with knowledge of the proposed deal.

Eagle’s stake in the Selhurst Park club hasn’t been finalized, according to sources, but a deal has already been reached.

Given the difficulty Palace and Uefa are currently facing in terms of gaining entry to the Europa League next season, it is understood that Johnson has indicated he can transfer the funds quickly. This is a significant factor in why the American businessman’s offer is currently thought to be the most favorable.

Due to Textor’s alleged involvement with the club, Palace may lose their spot in the upcoming season’s competition, which they won last year’s FA Cup.

It’s unknown whether Textor’s sale of his stake in Palace will lead to Uefa’s final decision.

However, it does give an indication that the businessman is open to breaking up with Palace, which might lead to the Premier League team’s Europa League entry.

Unconfirmed sources have indicated that a well-known entertainment company with a Florida base has expressed an interest, and another consortium that includes NBA legend Jimmy Butler has a reported interest.

At the time when Textor was looking for investment, Sportsbank, the investment bank, who were named as the preferred bidder, also showed an interest in making an offer.

However, it is claimed that it would have taken about a month for Sportsbank to obtain the financial support from its Middle Eastern and US investors, which would not be in line with Textor’s desire for a quick sale to aid Palace’s legal battle with Uefa.

Given his estimated $ 3.39 billion fortune and reputation as a well-known businessman, sources claim Johnson is in the best position to pass the Premier League’s owner’s and directors’ test. He is the Johnson &amp, Johnson pharmaceutical company’s heir.