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Wyness Weighs In on Textor’s Troubled Stake Sale
Keith Wyness, the former chief of Everton, has shared his views on the ongoing struggle of John Textor to sell his 45% stake in Crystal Palace. Speaking on the latest episode of Football Insider’s Inside Track podcast, Wyness labelled the opportunity to become a minority investor at the club as “attractive,” despite the challenges currently facing Textor.
Wyness expressed his surprise that current Palace shareholders, including David Blitzer, Steve Parish, and Josh Harris, have not moved to take full control of the club. Textor’s initial intentions were to sell his stake and acquire Everton, but he has faced competition from The Friedkin Group, which is now on the verge of securing full ownership at Goodison Park.
Financial Uncertainty Looms Over Eagle Football Group
The situation has grown more complex as the US billionaire’s Eagle Football group has fallen behind schedule, being 16 weeks overdue in submitting its financial accounts for the latest year. This delay may be linked to the uncertainty surrounding the stake sale.
Potential Buyer Emerges for Textor’s Stake
In a new development, global sports firm Sportsbank has reportedly made a £230 million offer for Textor’s stake, although discussions are still in the preliminary stages, according to the Daily Mail.
Wyness explained that the difficulty in selling Textor’s stake stems from the nature of voting shares and the specific conditions tied to Steve Parish’s involvement in football decisions. He pointed out that ownership structures can vary significantly, citing Jim Ratcliffe’s control at Manchester United despite holding a minority percentage.
Despite the hurdles, Wyness remains optimistic about the appeal of minority shareholding in a Premier League club like Crystal Palace. He noted that the value of such shares ultimately depends on what buyers are willing to pay, which remains Textor’s main challenge at present.
Crystal Palace’s Future: More Changes Ahead?
In other news, Crystal Palace is reportedly considering recalling Jesurun Rak-Sakyi, according to experts. As the club navigates these changes, the future remains uncertain, but the potential for new investment continues to spark interest.
