Investors boost Crystal Palace by announcing exclusivity deal with co-owner John Textor
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Sportsbank, a group of investors fronted by two Crystal Palace supporters, has announced that it has signed an exclusivity agreement with John Textor’s Eagle Football Holdings – the south London club’s co-owner – and intends to make a “significant financial investment”.
A statement on Wednesday from Sportsbank, which is led by Zechariah Janjua and Navshir Jaffer and is understood to include investors mainly from the United Arab Emirates but also North America, Canada and Europe, confirmed that it has entered a period of exclusivity while due diligence is conducted. It is understood that they have agreed to invest around £230m in Eagle Football, which owns a 45% stake in Palace as well as French club Lyon, Brazilian side Botafogo and RWD Molenbeek in Belgium.
“Sportsbank intends to make significant financial and management investment in Eagle football with the backing of major international financial and strategic management investors who strongly support Eagles’ multi-club model,” the statement said.
Sportsbank is being advised by the football financier Keith Harris, who previously worked on takeover deals at West Ham, Manchester City and Aston Villa, although it remains unclear what impact their agreement will have on a deal that was reportedly signed earlier this week with a group of investors that includes the Dallas Mavericks head coach Jason Kidd, the former Morgan Stanley sports executive Bejan Esmaili and the former Roc Nation attorney executive Wajid Mir.
