American businessman - once linked with Newcastle United takeover - acquires stake in Premier League rivals Crystal Palace

Crystal Palace have announced American businessman John Textor – once credited with an interest in Newcastle United – has acquired a stake in the Premier League club after “significant sums” were invested, according to chairman Steve Parish.
By PA writer
Published 11th Aug 2021, 18:17 BST
St James's Park.St James's Park.
St James's Park.

The founder and chief executive of Facebank, a virtual entertainment company, has joined Parish and fellow joint-owners Josh Harris and David Blitzer as part of the board at the south London side.

Textor, who was close to buying shares in Benfica earlier this summer, has already invested into Palace and has a loose link to the club in midfielder Jacob Montes, who signed in May after progressing from the Florida FC Prep Academy which was set up by the new Eagles shareholder in 2016.

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“I have looked at many opportunities across European football in which to invest so I could follow my passion for football and have a meaningful stake in a club,” Textor explained.

“Over the past six months of discussions, I have also developed a real affinity to Crystal Palace FC, its history, the staff and, of course, most importantly the supporters who create an incredible atmosphere at every game – one I cannot wait to witness again when supporters return to fill Selhurst Park this season.

“I very much look forward to working with the chairman and the other partners.”

Parish revealed Textor’s investment has contributed towards this summer’s rejuvenation of the first-team squad with Michael Olise, Marc Guehi and Joachim Andersen joining for undisclosed fees totalling close to £50million, the PA news agency understands.

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In July, it was reported the overseas investor put a deposit down on a move for Newcastle United following takeover talks but talks did not progress.

Newcastle United kick-off their new campaign on Sunday when West Ham United visit.

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Related topics:AmericanPremier LeagueCrystal Palace