[Football] Crystal Palace sell £87.5m stake to US businessman

[TomandJerry]

"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,” said Textor.

Who made his fortune through the hologram company Facebank, which has merged with FuboTV. “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"

"The Investment will help build the squad, academy and new stand"

Sent from my EML-L09 using Tapatalk

 

[Bozza]

"The Investment will help build the squad, academy and new stand"

An obvious implication of this is the ring-fenced funds we heard so much about, must have escaped or something.

They're going to need a bigger fence.

 

[Sheebo]

He owns 25% of Benfica and they’re getting Nunez so I’ve heard…

(That’s Nunez, not Nuno who they have as manager.)

 

[Perry's Tracksuit Bottoms]

"Textor ... will join his fellow American co-owners Josh Harris and David Blitzer and the chairman Steve Parish on Palace’s board, despite being understood to have initially hoped to buy the club outright."

*Pulls up chair, grabs popcorn*

 

[AZ Gull]

He owns 25% of Benfica and they’re getting Nunez so I’ve heard…

(That’s Nunez, not Nuno who they have as manager.)

He doesn't.

 

[Easy 10]

"Over the past six months of discussions I have also developed a real affinity to Crystal Palace, 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."

When exactly would he have experienced this "incredible atmosphere at every game" over the last 6 months then ?

Just another dodgy spiv to add to the collection.

 

[Sheebo]

He doesn't.

Sorry AZ but ‘whooooosh’

 

[Sheebo]

"Over the past six months of discussions I have also developed a real affinity to Crystal Palace, 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."

When exactly would he have experienced this "incredible atmosphere at every game" over the last 6 months then ?

Just another dodgy spiv to add to the collection.

The atmosphere at Stad De Clad is appalling. Nothing from any stands other than a drum and some woooahs by uniformed tampons.

 

[Easy 10]

The atmosphere at Stad De Clad is appalling. Nothing from any stands other than a drum and some woooahs by uniformed tampons.

Well yes, we know. But this latest gimp is regaling everyone on the amazing atmosphere he's experienced since he's been in talks with Optimum Spiv these last 6 months. Which is a curious statement, being as anyone who has not had a full-frontal lobotomy this year already knows this is bullshit.

He's going to love it when they revert back down to their usual circa 15k crowds if they drop down though. Once again, Steve Perish is looking to sell a pup.

 

[Brok]

Harris, Parish, Textor and Blitzer.

Who's next? Rudolph, Dancer or Prancer?

 

[Uh_huh_him]

"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,” said Textor.

Who made his fortune through the hologram company Facebank, which has merged with FuboTV. “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"

"The Investment will help build the squad, academy and new stand"

Sent from my EML-L09 using Tapatalk

Ahh!
Now I understand why we are suddenly being told the club is 160 years old.
It was all part of the scam to lure in another yank mug.

 

[Grassman]

Ahh!
Now I understand why we are suddenly being told the club is 160 years old.
It was all part of the scam to lure in another yank mug.

To his American friends and family: “Yeah, I’ve invested in the original Crystal Palace!”

Mind you, people in glass houses and all that.

 

[bluenitsuj]

"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,” said Textor.

Who made his fortune through the hologram company Facebank, which has merged with FuboTV. “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"

"The Investment will help build the squad, academy and new stand"

Sent from my EML-L09 using Tapatalk

"I have also developed a real affinity to Crystal Palace FC, its history,"

All 11 years

 

[el punal]

He owns 25% of Benfica and they’re getting Nunez so I’ve heard…

(That’s Nunez, not Nuno who they have as manager.)

Nunez, Nuno, Nuno, Nuno, Nuno, Nuno, no limits!

Sorry, couldn’t resist.

 

[el punal]

"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,” said Textor.

Who made his fortune through the hologram company Facebank, which has merged with FuboTV. “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"

"The Investment will help build the squad, academy and new stand"

Sent from my EML-L09 using Tapatalk

Going up in the world? Next thing is they’ll have Winnebagos dumped in the club car park.

 

[Seasidesage]

The bit that caught my eye was that Parrish is the majority shareholder with 18% and that the new yank had purchased a substantial but smaller share for £87.5m if its say 15% by my dodgy maths that values the club at somewhere approaching £600m!!! How the **** did they come up with that valuation and how did they find someone stupid enough to pay it

What exactly are you getting for this £600m? Even assuming a premium for convincing someone that its London, what does that make us worth?

 

[Uh_huh_him]

Whilst Palace will be crowing about a wealthy investor injecting funds to build their squad, the reality is the funds are desperately required to cover debts.

It's interesting that Parish will retain an 18% controlling share and yet this guy is also expected to make additional funds available for future signings.
How does that work? It doesn't sound like a particularly good deal.

 

[Uh_huh_him]

The bit that caught my eye was that Parrish is the majority shareholder with 18% and that the new yank had purchased a substantial but smaller share for £87.5m if its say 15% by my dodgy maths that values the club at somewhere approaching £600m!!! How the **** did they come up with that valuation and how did they find someone stupid enough to pay it

What exactly are you getting for this £600m? Even assuming a premium for convincing someone that its London, what does that make us worth?

A quick Google indicates they were worth £210 million in 2019 and "expected to be worth £510m in 2021" But back then they were expected to be sold "debt free" and have developed the ground by 2021, which is no longer the case.


Sounds like he's been sold a pup to me.
But I know nothing.

I'm sure EL Pres will be able to shed some light on this, but may save it for his podcast.

 

[Sheebo]

Harris, Parish, Textor and Blitzer.

Who's next? Rudolph, Dancer or Prancer?

As soon as they became a third different club and franchise in 2010, they were always going to end up as a yank ran club - they see the franchises just like the NFL etc. Next they’ll be getting slutty looking cheerleaders or something… oh.

 

[Sheebo]

"I have also developed a real affinity to Crystal Palace FC, its history,"

All 11 years

And even taking the original form written on the club badge, they’ve now tried to change that to 50 years earlier