John Textor, the American entrepreneur behind Eagle Football Holdings, is navigating a transformative period for his multi-club football portfolio. With exclusivity agreements in place with two distinct groups, Textor’s moves look set to redefine the future of his football empire, which includes stakes in Crystal Palace, Olympique Lyonnais, Botafogo, and RWD Molenbeek.
Textor has granted exclusivity to a U.S.-Saudi consortium for the direct purchase of Eagle Football’s 45% stake in Crystal Palace. This group, fronted by figures such as Dallas Mavericks head coach Jason Kidd, former Morgan Stanley sports executive Bejan Esmaili, and ex-Roc Nation attorney executive Wajid Mir, is backed by Mansoor and Haider Syed. The Syed brothers, born in Saudi Arabia and educated in the United States, lead a fund established specifically to acquire a football club. The consortium’s revised offer of $185 million (£148.4m) has advanced discussions to a critical stage, with Premier League approval pending should a binding agreement be finalized.
Concurrently, Sportsbank, an investment group spearheaded by former Everton director Keith Harris, has entered its own exclusivity period to invest directly in Eagle Football. Unlike the U.S.-Saudi consortium, Sportsbank is not seeking to purchase Eagle’s stake in Crystal Palace but aims to inject significant financial resources into Eagle itself. The group is led by Crystal Palace supporters Zechariah Janjua, a tech investor, and Navshir Jaffer, a finance professional, and is reportedly funded by entities across the U.S., United Arab Emirates, and other countries.
The two bids represent diverging visions for Eagle Football’s future. The U.S.-Saudi group aims to secure control of Crystal Palace, potentially ending Textor’s involvement with the club. In contrast, Sportsbank’s proposed investment would allow Eagle to retain its Crystal Palace stake and redirect resources toward expanding its influence within the Premier League and beyond.
Both groups are currently undergoing due diligence and demonstrating proof of funds, with the outcome hinging on which party meets the exclusivity conditions first. Textor has publicly expressed a preference for Sportsbank’s investment, emphasizing its potential to support Eagle’s growth and facilitate a renewed pursuit of a controlling stake in Crystal Palace.
Textor’s relationship with Crystal Palace has been marked by challenges since he initially invested £87.5 million in 2021 for a 40% stake, later increasing it to 45%. Despite his efforts to gain majority control, disagreements with co-owners Steve Parish, Josh Harris, and David Blitzer over the club’s direction and Textor’s multi-club model have hindered progress. In May 2023, Textor acknowledged that Eagle Football’s structure was “not a perfect fit” for Crystal Palace and engaged investment bank Raine to explore alternatives.
As negotiations unfold, the stakes are high. The resolution of these competing bids will determine not only the future ownership of Crystal Palace but also the trajectory of Eagle Football’s ambitious multi-club strategy. Whether Textor departs entirely or doubles down on his vision, the outcome will have lasting implications for his global football portfolio.