Eagle Football Group / Textor in Administration

[Canterbury Palace]

Not that many of us didn't see something like this coming but haven't we had a lucky escape? Bloke is an absolute fraud. Thank God our other owners didn't let him take control of the club.

https://www.ft.com/content/93a7d416-0a6c-4bf3-8787-ae34c4349a20?syn-25a6b1a6=1

 

[Eagleman13]

Can't see anything, it's behind a paywall. Good news tho . . .

 

[Eagleman13]

Found this from The Athletic, not looing too good for him now, shame . . .

Textor loses control of multi-club empire, as Eagle Football placed into administration

Eagle Football's main creditor, investment firm Ares Capital Corporation, has put the group’s UK-based holding company into administration.

www.nytimes.com

 

[chris123]

There must be some kind of security against assets either defaulting or an impasse, the accounts are overdue.

 

[Linford]

Ha!

Hope those clubs come out okay on the other side, not their fault they were in the hands of a charlatan.

We’ve had a very lucky escape here.

 

[Linford]

There must be some kind of security against assets either defaulting or an impasse, the accounts are overdue.

Administration is the security

 

[Jimenez]

His spokesman Grumpymort is on his way. Expect a counter rebuttal shortly.

 

[chris123]

Also Lyon managed to convince the regulator that they were stable and that had consequences regarding European fixtures if I'm remembering correctly, which in turn affected us.

 

[Badger11]

Not that many of us didn't see something like this coming but haven't we had a lucky escape? Bloke is an absolute fraud. Thank God our other owners didn't let him take control of the club.

https://www.ft.com/content/93a7d416-0a6c-4bf3-8787-ae34c4349a20?syn-25a6b1a6=1

As you say many of us warned that the guy was building a house of cards with his Ponzi scheme consortium.

At one point he was criticising Parish for not being allowed to spend more money on players and a few on here listened and blamed Parish.

Most of us though asked but whose money Textor? Yours? Or are you saying the club should borrow to buy. I think we now know the answer just like the Glaziers he wants to spend the club's money not his own.

I called it from day 1 he was and is a Pump and Dump merchant.

Good riddance.

 

[Davepalace707]

Also Lyon managed to convince the regulator that they were stable and that had consequences regarding European fixtures if I'm remembering correctly, which in turn affected us.

That’s right they did. Despite all the warning signs about Textor and Eagle Holdings. Just re-confirms what a dodgy bunch UEFA are. It’s always important that owners are financially stable, more so than being ambitious.

 

[elgin eeagle]

Looks like we dodged a massive bullet there. I know our other yank owners aren't perfect but at least they stay out of the picture by and large and let Parish be the frontman. If Textor had managed to get his aggressive takeover of Palace through who knows where we would be now. Sold to Marinakis or worse no doubt.

 

[eaglesdare]

Does this mean we can go back into the Europa league?

 

[chris123]

Does this mean we can go back into the Europa league?

I'll be interested to hear what Steve has to say after the arbitration jaunt in Switzerland, but obviously yes and everything gets set to zero.

 

[Norbury Old Git]

Unfortunately the clock cannot be turned back but it may well help us appear as victims if Parish sends a letter of concern to the French FA. It cleared OL finances which ultimately led to Palace’s demotion. UEFA doesn’t come out of it at all well as they interviewed Textor and believed his bull***t about controlling Palace. Maybe we will get some competent referees for the remaining matches.

 

[grumpymort]

His spokesman Grumpymort is on his way. Expect a counter rebuttal shortly.

Here I am.

It appears people here are not understanding the situation.

This is not Tex he gets the main focus because he is the frontman.

Some of the links to reports which are very shoddy journalism.

 

[eaglesdare]

Perhaps Parish might get some credit for keeping textor at arms length?

 

[Part Time James]

Or perhaps we could thank UEFA for expediting Textor out the door. Not being serious if that isn't apparent.

 

[Davepalace707]

Here I am.

It appears people here are not understanding the situation.

This is not Tex he gets the main focus because he is the frontman.

Some of the links to reports which are very shoddy journalism.

Well he’s only the chairman. So fancy journalists assuming he had anything to do with them going into administration……