John Textor has joined, as director, investor and 4th partner
 

He's joined, as director, investor and 4th partner

Official 4th investor

John textor
 

Apparently he’s our new investor and member of the board.... https://twitter.com/CPFC/status/1425...375359493?s=20

give us your money yankee

also, get that Benfica link going

Sorry disregard

New signings incoming??

:confused:

How do they work it out with the shares? Does he buy a bit each of the other 3's stake?

He owns 25% of Benfica.

A link between the clubs could prove fruitful.

Wonder if this will progress the new Main Stand?

Welcome Carlos Vinicius

I wonder if this American will splash the cash ?

having a scout through their squad, this guy seems quite impressive

https://en.wikipedia.org/wiki/Darwin_N%C3%BA%C3%B1ez


come on Mr. Textor, prove your worth!!

Any chance of some holo shows before games and at half time now? :)

I think he already has

Could change it to the Holomesdale End.

Exactly my thinking. Is this why all our Christmas's have come at once? [emoji1787]

Yeah but who would Benfica want??

Are Benfica that good? That league is probably equivalent to league 2

Isn't that still pending some sort of approval? I don't think it's a done deal yet.

Is is worse than Ligue 1 though?

An inspirational message that's guaranteed to open his wallet. :p

No. I would think that new shares will be created so that the money goes directly to the Company (club) rather than the current owners.

No, I think SPL and Ligue 1 are close. Messi may have tipped the balance though

You seem to be missing the point that he owns 25% of Benfica as well. Why would he poach players from them in favour of us?

I too am interested in the type of plan he has. Unlimited Textor, something else?

So what is the percentages now between Parish, Blizt/Harris and Textor?

Know that’s obviously a troll post, but just as a general point, Benfica have one of the greatest academies ever, which still churns out talent today. Might be useful for our academy to collaborate with theirs, share strategies, or something.

Shit, now it really does sound like Santa's raindeer.

Full of Blitz, Textor and Harris

Always loved the yanks

Parish’s statement said that Textor has already invested huge sums of money to help bolster the squad so don’t expect much more cash from him if he has already invested huge sums!

That would be cool. Would be happy if we could find the next Ronaldo

So does this mean we are signing Haaland as cover for Benteke now or what?

What will the limit of his investment be then?

It’s reportedly 90m

I’d say that gets him 20% if 90 mil true..Blitz/ Harris will have 30%. Parish 50%.
Sure money is ring fenced from him also for New stand.

Great news.

AATOT

https://www.cpfc.org/forums/showthread.php?t=284524

Must hold a huge % of shares then, otherwise the club valuation is huge!

Where is it reported?

I’d say that gets him 20% Blitz/ Harris will have 30%. Parish 50%.
Sure money in bits and also ring fenced for New stand.

One of the best academies in the world

Parish doesnt own 50%, he owned 18% before the investment (equal with Harris and Blitzer), Parish will own less now.

Way off.

torygraph article on this says the money (£87.5m) is for reducing debt and stadium redevelopment. We're coming for you Sainsbury's

What. Where did you get these figures from

Crystal Palace have new principal shareholder with funds set to reduce debt and redevelop Selhurst Park

American John Textor looked at many opportunities across football before choosing Palace to invest in and follow his 'passion for game'

Crystal Palace have a new principal shareholder, the American John Textor, who has invested £87.5million for his stake, funds which the club will use to reduce debt and redevelop Selhurst Park.

Textor, who came close to buying a 25 per cent share in the Portuguese club Benfica, has been in long-term talks with Palace and passed the Premier League’s owners and directors’ test this week. He will take a place on the board along with chairman Steve Parish and his long-term American investors Josh Harris and David Blitzer. The four will continue the general partnership model that gives them all equal voting rights.

Textor, 55, founded the virtual reality human animation company Facebank Inc and has also invested in the streaming service Fubo TV. He has a background in Hollywood animation, post-production and special effects including an involvement in the 1997 movie Titanic. He has had a long-term interest in investing in English football and has considered Newcastle United in the past.

Palace will use his investment to pay off around £57.5 million of debt, much of it borrowed to sustain the club through the Covid shutdown which has seen supporters locked out and some rebates on broadcast deals. A further £30 million will be invested in the club, especially the redevelopment of the main stand and the connecting corners that join the Holmesdale and Whitehorse Lane stands. The club have just completed an ambitious £20 million investment in building a new academy in Beckenham and are keen to move on to the stadium rejuvenation.

The club have not disclosed the size of Textor’s stake in Palace other than to say it is “substantial”. His Facebank company is valued currently at $4.5billion [£3.2 billion]. He is based in Florida, in the United States, but is expected to attend some games this season. He has taken a keen interest in all aspects of the club since the agreement was made to invest, watching feeds of the Under-23s and Under-18s sides. Palace have signed a player from Textor’s Florida football academy, the midfielder Jacob Montes, 22, who will spend next season on loan at the Belgian second tier club Waasland-Beveren.

Textor said he had looked at “many opportunities across European football” before choosing Palace for his investment and to follow his “passion for football”.

He said: “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”.

Under new manager Patrick Vieira, Palace have seen eight senior first team players leave this summer on free agency, including Gary Cahill, Andros Townsend and Patrick Van Aanholt. They would not pay the price Blackburn Rovers put on striker Adam Armstrong, who joined Southampton. Palace are still looking at attacking options before the end of the window. The 21-year-old England Under-21 defender Marc Guehi has joined from Chelsea, and so too Denmark international Joachim Andersen. Palace have also been hit with injuries to Eberechi Eze, Nathan Ferguson and new signing Michael Olise.

https://www.telegraph.co.uk/football...ds-set-reduce/

More money to redevelop the Ground :D

:supergrin::supergrin:

Not sure I'd be telling Sainsbury's how much money we have in the bank ahead of negotiations

Ok so tell me what you think out of 4 they own? I’m speculating.

Mail saying some money has come from existing shareholders:

The arrival of John Textor allows Palace to reduce their debt by £50million. But an additional £40million raised through Textor and existing shareholders also allows them to reshape the squad in a summer which has put them at a crossroads.

https://www.dailymail.co.uk/sport/fo...rth-owner.html

And fill in the corners according to that article

Better quality cladding?

I was thinking exactly the same - that ransom strip we want could be the most expensive piece of land in the world soon.

One thing I've always wondered, who are those minority owners that came with Harris and Blitzer? When Swansea had the same kind of takeover they had the likes of Mindy Kaling off the tv with a small % come in for a slice of the pie (that went well)

Well that dosnt add up, sure Parish and other former members added up to 50% when BlitzHarris arrived. Again what do you think it is then?

Well come then Einstein what do you think?

Thought two of the corners were already in the plan.

"He has a background in Hollywood animation, post-production and special effects including an involvement in the 1997 movie Titanic."

Great that we have someone on board who can help rearrange the deckchairs.

There is a shit ton of small America investors plus two of the original CPFC 2010 still own 5% each I believe.

I think it's been said on here before that the assumption that the % of the financial stake = % control of the club is mistaken in this instance

As some of the investment has already been used on purchases ahead of today's announcement I'm sure SP and the other board members are much more savvy than to be bent over by Sainsbury's.

There are other minority shareholders. Calm down.

Agreed, talking about % of shares owned not voting rights.

He’s not Einstein he’s Sid James smoking a pipe

Hear, hear. Having overseen a truly golden period in the club's history, another American joins the fray to answer our prayers, much like they bailed us out and secured freedom for the world over seventy years ago.

Once again, thank you, Americans.

After the attempted EFL bullshit, not sure I want to see more Yanks anywhere near football, let alone our club. We know how they think. Hopefully, this is the one American investor willing to put in more than the minimum to protect his investment. It also makes Harris and Blizter's contributions look far less generous to this window than we may have thought.

But I guess we can't turn up our nose at a time like this. Hope we don't regret it later.

Maybe his company can make a hologram of the new stand... would look good on TV without actually building it!

I think SJ still has dibs on the Jumbotron

Covers our Covid losses.

Without the Americans, you wouldn't have had to worry much about the EPL, let alone the EFL

Ok yeah as before makes sense, but sure essentially UK based investment is 50% and US is 50% that’s what I’m trying to work out.

Yes can’t say I’m comfortable with this, needs must but I really hope that there are protections in place to maintain SPs overarching control

We could have had different investors who contributed more. And we will never be sure that our continued presence in the PL is only down to the Americans, unless you are just making a debater's point.

I understand that, just trying to work it out. Don’t worry I’ll check creditsafe in few weeks that should calm me down then..

Hope so but I'm not sure how Parish can maintain that with an ever diminishing stake in the club. Not that I am an expert on such matters.

this is not correct. see his statement on matter from july

https://www.johntextor.org/sl-benfic...6-update-final

UK investment is really just Parish (18%), Martin Long and Steve Browett (believe Hoskins sold up). Believe the 3 other members of CPFC 2010 shares went down to 2.5% or 5% when Harris and Blitzer took over so the majority of the shares are owned by US investors.

Well, I for one welcome our new American overlords.

Well, it's difficult to acknowledge the help of imaginary investors, so I'm plumping for the ones whose cash has most definitely kept us in the league. At no point did I say it was only down to the Americans, for instance the players helped a lot.

A couple of points i picked up on this.
1. Didn't the club put aside cash instead of paying off debts, meaning that if these debts are cleared and the cash was used to purchase players, that the club maybe debt free.
2. The statement that the money will be used for items other than player purchases may be to prevent teams expecting top money for their players.
3. As this is announced now, is most of our transfer business complete?

Next step to rename the ground

The we buy any car.com stadium

Was inevitable because none of the 4 original investors had sufficient personal funds to risk on taking the club forward. It makes what they've achieved in 10 years even more remarkable.

Don’t like this at all but it seems to be the way of the premier league.

Putting my faith in Parish and co that they wouldn't let a dodgy investor into our club. So welcome John - I'll take a central midfielder and an attacker please

Like who? Parrish has been searching for the right investors since 2010. The fact he has convinced 3 US billionaires to invest millions into the club is a sign of a good businessman. There aren't many British owners in the PL these days, i may not like it, but then again 1/3 or even 1/2 or even more of the footballers starting each weekend in the PL are not British either.

All I wrote was that I am less than happy at the general conduct of American investors in football and less than impressed at how they have allowed our squad to denigrate to the point that it has. If you feel the need to defend them, then that is you rightful POV.

It seems you want to argue for the sake of it and dismiss my even envisioning that anyone else could have possibly have done a better job. If that's how strongly you feel, just say so and we can stop here. If you recognize I may have at least some point, then, again, there's not much reason in discussing this further.

What won't happen is I will agree that the Yanks have done as much as we hoped or that Americans have done much good for the greed ruining the PL as a competitive league. If you disagree, fine. If you agree, why even dispute my sentiments?

Indeed, very few British owners.

Welcome John.

Exciting times.

Not sure what this is.

I don't need to state an alternative to make my general point. I just stated my general dissatisfaction at what Americans bring to our game. If you are happy with what Americans have tried to do to British football this last year, that's your lookout. But please don't dismiss that original part of my post to justify an argument.

Like I said with VHA, if you disagree that Americans have been less than conducive to the healthy state of the soul of football, then say so. I happen to feel differently.

And I couldn't agree more at how well Parish has done but am disappointed by the American's follow through. I just think the Americans are the major investment issue in British football. Just an opinion.

Not sure I understand your point either then. I say let's leave it. You came after my opinion anyway so I am more than happy to call it a draw! :D

Welcome John, will be good to see you at Selhurst. Exciting times!

Assume some of his investment has already been spent in this window

Mind you Einstein liked a pipe:)