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Textor buying Everton? / Bids to buy Palace outright

doombear said:
Apparently being funded by Abu Dhabi and one or more American backers. The Sportsbank frontmen are purportedly Palace fans. Time will tell.
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Yup this is the rumour. However Palace fans or not they don't have the money so will borrow it which means it most be paid back at some point.

I just hope this doesn't mean they saddle us with their debt?
 
MFW94 said:
www.nytimes.com

Crystal Palace ownership latest: Who is best placed in bid for Eagle Football stake?

Breaking down which groups are vying to invest in Palace or Eagle and how it could affect the club
www.nytimes.com www.nytimes.com

suppoesdely this bid from SportsBank is to invest in Textors Eagle group, and not a direct taekover of his shares - which would keep him at the club with the view of a full takeoever.... gulp.
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I wonder how much is entirely in Textor's hands as to who he sells to and what the terms are? I would assume Parish, Blitzer and Harris would have to agree to (a) the sale and (b) who the shares are sold to.

I would also guess there would have been a clause in Textor's original purchase agreement outlining exactly what happens in the event of him wanting to sell and probably a reciprocal agreement applying to Harris, Blitzer and Parish if one of them wanted to sell.

Not surprisingly, the club have been very silent on exactly what is going on but I wonder if anyone has any insights on the actual decision making process?
 
Eagleman13 said:
How would the voting rights be changed? Atm we have 4 people who own us, they all get a vote each(1/4 or 25%), nothing unusual or wrong with that. IMHO I just can't see how it can be different.
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It is unusual as normally in private companies shareholders have voting rights in proportion to their shareholding
 
nead1 said:
I wonder how much is entirely in Textor's hands as to who he sells to and what the terms are? I would assume Parish, Blitzer and Harris would have to agree to (a) the sale and (b) who the shares are sold to.
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The existing shareholders don't have to agree to the sale and in general don't have a say in whom the shares are sold to
 
The next few weeks will be interesting to see what Textor's next move will be. Last time I looked he was deep in it at Batafago and Lyon. Im sure H&B will be keeping a close eye on any development.
 
dreamwaverider said:
The next few weeks will be interesting to see what Textor's next move will be. Last time I looked he was deep in it at Batafago and Lyon. Im sure H&B will be keeping a close eye on any development.
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Only positive from Botafogo is they just won the Copa Libertadores (South American champions league)
and the Brazilian Championship - not without Textor getting hot water with the Brazilian FA accusing them of cheating

I just dont like this whole multi-club model and never have - I dont want our club to be used as a vehicle for someones company to move players, etc. It is just not what football is about
 
ASCPFC said:
Are they allowed to make a matching bid if they hold a majority? And would that then be considered as the favourable bidder or something like that, in law? Just wondering if there's some legal mechanism like that?
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They can make a matching or even higher bid but it's up to Textor who he sells to unless there is something to the contrary in the company's Mem & Arts
 
Midlands Eagle said:
They can make a matching or even higher bid but it's up to Textor who he sells to unless there is something to the contrary in the company's Mem & Arts
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I thought I read somewhere that the board did have to give consent to a sale of shares that large? Maybe I am wrong on that point, however that might explain why the takeover group are exploring buying into Textor's consortium.

If they buy into the consortium they don't need the approval of the Palace board so it's control via the backdoor. Parish may not like them because they don't have any money of their own and that means loans.

Just a thought.
 
I think you could well be correct; Board approval for such a significant sale is pretty normal business practice in my experience. In the case of Textor, you are also talking about 45% of the shares of the business - clearly very significant especially as it appears relationships have not always been very harmonious.

Will certainly be interesting to see how it eventually plays out and hopefully reassuring that Parish, with his long standing Palace connections, will seek to protect the best interests of the club.
 
The only thing we have got (which is huge) to stop us falling into the same trap as the likes of Portsmouth , Everton etc where we would become a club riding on massive debt and possible corruption is Parish.
Parish it would appear will always ensure Palace remains 'safe'.
So long as we have Parish, Harris and Blitzer holding the majority of the club (51%) we should be ok.
The sooner Textor goes taking his multi club dream with him, the better.
Im still hopeful he will end up selling to H&B for a fraction of what clickbait thinks.
 
Surely, Textor's current priority is money to sort out the serious financial problems at Lyon, otherwise they will be relegated to Ligue 2. His Eagle holding Company paid a lot for that club. If Sportsbank invest in Eagle Holdings, wil/can Textor use most of the money to solve his Lyon problems (Don't know how much he needs in order to do that)?

There's no way IMO that H&B will pay Textor's inflated valuation of his shares.
 
doombear said:
Surely, Textor's current priority is money to sort out the serious financial problems at Lyon, otherwise they will be relegated to Ligue 2. His Eagle holding Company paid a lot for that club. If Sportsbank invest in Eagle Holdings, wil/can Textor use most of the money to solve his Lyon problems (Don't know how much he needs in order to do that)?

There's no way IMO that H&B will pay Textor's inflated valuation of his shares.
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It's a good point. It maybe easier for Textor to fund Lyon if Sportsbank puts money into Eagles Holdings rather than Palace. in which case I see no benefit for Palace.

Robbing Peter to pay Paul.
 
Textor also had to decide which club he wants to be his 'main club' - if he ever got control of palace - UEFA rules state co owned clubs can not play in the same competition (I know there are ways around it like red bull)

Lyon have european history and are one of the big 3 in France - so would palace be the 2nd club and therefore we probably get shafted a lot more and get a load of unwanted players etc.

or Is palace is the most valuable and being in London and the premier league?

We shouldnt be used a vehicle for him to bail out Lyon for example.

I can assume Lyon, Botafogo fans would probably think the same as us?
 
dreamwaverider said:
The only thing we have got (which is huge) to stop us falling into the same trap as the likes of Portsmouth , Everton etc where we would become a club riding on massive debt and possible corruption is Parish.
Parish it would appear will always ensure Palace remains 'safe'.
So long as we have Parish, Harris and Blitzer holding the majority of the club (51%) we should be ok.
The sooner Textor goes taking his multi club dream with him, the better.
Im still hopeful he will end up selling to H&B for a fraction of what clickbait thinks.
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Nothing is permanent and sadly rumours have circulated that Blitzer wants out. Harris has explored other options too in the recent past. I think we are likely to see a big boardroom reshuffle in the near future which could (hopefully not) cause a power struggle.
 
I just want Textor out the club. Reckon he's an absolute liability who could very well get us relegated and in administration again.

Harris and Blitzer can piss off as well. Dream world we'd just get one mega rich guy in who would be happy to let Parish carry on.
 
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