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John Textor
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 EddieMac  02 Jan 23 8.48am |
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Originally posted by samprior
Any chance of a copy and paste for those of us who don't subscribe? Why has John Textor bought Lyon – and how does it affect Crystal Palace? By Matt Woosnam and Matt Slater US businessman John Textor has bought French side Lyon. Textor’s purchase of Lyon – which was initiated in June – has seen him add a fourth club to his portfolio, which already included Belgian club RWD Molenbeek and Brazilian side Botafogo, as well as a 40 per cent stake in Palace. So why did he want to buy the Ligue 1 side and what does it all mean for Palace? Why did Textor want to buy Lyon? Textor is invested in the multi-club model of ownership, similar to that of the City Football Group and Red Bull, whose stable of clubs is arguably the most successful multi-club group in global football.
This has been in the background for some time, starting earlier this year before the attempt to make a purchase was formalised. The idea is for Palace and Lyon to sit atop the multi-club model and to benefit from the other clubs, but that all the partnerships are also mutually beneficial. Botafogo offers an avenue into South American talent, Molenbeek enables them to gain the points required for a Governing Body Endorsement (GBE) — a points-based system in which players from overseas need to earn at least 15 points to be eligible to play for a Premier League or EFL team — and Lyon helps expand the talent pool available. He has ambitious objectives and believes the only way to compete with the wealthiest clubs is through this multi-club model. Lyon is another step in that direction given its significant resources.
The plan was to “regain the highest level, in France and in Europe, while respecting the values ​​of the club’s DNA such as youth, work and self-sacrifice”, with a focus on the academy. Why did an English football club have a say in who owns a club in France? As Textor’s shares in Palace have been moved into that new company, Eagle Football Holdings, a review was needed under the Premier League’s Owners and Directors test. A previous statement from Lyon noted that the purchase of the club by Textor through Eagle Football Holdings was being held up because it required the agreement of the Premier League, who had requested the agreement of Palace’s shareholders. What is Textor’s long-term ambition? Textor’s eagerness to pursue a multi-club model is out of keeping with the manner in which Palace have gone about their business since Parish, along with three others, bought the club out of administration in 2010, and then won promotion in 2013. The argument would be that an element of evolution is required as the landscape changes. Parish has repeatedly spoken of an ideal scenario being that the entire Palace starting XI would consist of homegrown talent from the local area, schooled through what is now a revamped £20million academy. He is rightly proud of the club’s dedication to improving the lives of young south Londoners, of bringing them through the youth ranks to star in the first team, and that is one of the reasons focus turned from the stadium redevelopment to the academy first. Textor agrees with Parish’s faith in the south London talent pool and has deliberately targeted clubs in areas where there is lots of local talent and proven paths to the top of the game. This attitude also explains why he was initially interested in Benfica, as Portugal is both a producer of great players but also an importer of young Brazilian talent, and Molenbeek, as Belgium is another football hotbed. But Molenbeek’s usefulness in terms of producing big transfer fees is always going to be limited by their size and the unlikelihood that they will ever play in European competitions. That is where stars are created and recognised. It is also where the most GBE points are earned. Simply put, any player who has a Europa League or Europa Conference League campaign on his CV has gone a long way to qualifying for a UK work permit. So, Textor was always looking for a bigger European club to add to the group as well, hence his move for Lyon. His proposed purchase of a majority stake in the club’s ownership vehicle, OL Group, a listed company, is a far bigger and more complicated investment than his previous football acquisitions. For his part, Textor has never denied that he requires significant help to complete the deal, which will cost close to £700 million, but his attempts to find that external investment have dragged on for over six months. The original plan was for American billionaire Bill Foley to provide the money, but he pulled out at the end of the summer and decided to buy Bournemouth instead. Textor is understood to have found new partners but it has not been easy. In the meantime, his relationship with Parish is understood to have frayed. Palace’s situation is further complicated by David Blitzer and Josh Harris, the other two general partners at the club, having launched a takeover bid for Chelsea earlier this year. That bid was unsuccessful, but it cast clear doubt over their long-term commitment to Palace. It is a potentially awkward situation where only Parish has his attention solely on Palace. He has always held control of the club and has overseen the most successful period in its history by doing things carefully and gradually. Caution, naturally, abounds.
The advancement of the academy was a major project and so is the stadium redevelopment. The latter requires significant capital. In 2018, it was anticipated to cost £100 million. Now they will surely be looking at a figure north of that. But would Blitzer and Harris be prepared to put funding into a long-term project? A united boardroom would certainly make matters easier, too. An agreement with Sainsbury’s supermarket has been reached over a plot of land needed and Parish has said he hopes to break ground on the project towards the end of 2023. Will this affect Palace’s plans for the January transfer window? It is difficult to know. It is in everyone’s interest for Palace to improve the squad in January and Parish told HLTCO that the introduction of five substitutes has made it more important to bolster their numbers. Patrick Vieira has repeatedly expressed the need to add players but insists it is about finding the right player, with quality preferred over quantity. The main question will be whether the finances are available. Palace fans will be eager for this to be resolved one way or the other without any impact on the club. Some will welcome the multi-club model, but there will be others who are uncertain of its benefits. Adding another club could make that division more aparent. Edited by EddieMac (02 Jan 2023 9.32am)
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| Spiderman Horsham 02 Jan 23 9.35am |
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Originally posted by EddieMac
Why has John Textor bought Lyon – and how does it affect Crystal Palace? By Matt Woosnam and Matt Slater US businessman John Textor has bought French side Lyon. Textor’s purchase of Lyon – which was initiated in June – has seen him add a fourth club to his portfolio, which already included Belgian club RWD Molenbeek and Brazilian side Botafogo, as well as a 40 per cent stake in Palace. So why did he want to buy the Ligue 1 side and what does it all mean for Palace? Why did Textor want to buy Lyon? Textor is invested in the multi-club model of ownership, similar to that of the City Football Group and Red Bull, whose stable of clubs is arguably the most successful multi-club group in global football.
This has been in the background for some time, starting earlier this year before the attempt to make a purchase was formalised. The idea is for Palace and Lyon to sit atop the multi-club model and to benefit from the other clubs, but that all the partnerships are also mutually beneficial. Botafogo offers an avenue into South American talent, Molenbeek enables them to gain the points required for a Governing Body Endorsement (GBE) — a points-based system in which players from overseas need to earn at least 15 points to be eligible to play for a Premier League or EFL team — and Lyon helps expand the talent pool available. He has ambitious objectives and believes the only way to compete with the wealthiest clubs is through this multi-club model. Lyon is another step in that direction given its significant resources.
The plan was to “regain the highest level, in France and in Europe, while respecting the values ​​of the club’s DNA such as youth, work and self-sacrifice”, with a focus on the academy. Why did an English football club have a say in who owns a club in France? As Textor’s shares in Palace have been moved into that new company, Eagle Football Holdings, a review was needed under the Premier League’s Owners and Directors test. A previous statement from Lyon noted that the purchase of the club by Textor through Eagle Football Holdings was being held up because it required the agreement of the Premier League, who had requested the agreement of Palace’s shareholders. What is Textor’s long-term ambition? Textor’s eagerness to pursue a multi-club model is out of keeping with the manner in which Palace have gone about their business since Parish, along with three others, bought the club out of administration in 2010, and then won promotion in 2013. The argument would be that an element of evolution is required as the landscape changes. Parish has repeatedly spoken of an ideal scenario being that the entire Palace starting XI would consist of homegrown talent from the local area, schooled through what is now a revamped £20million academy. He is rightly proud of the club’s dedication to improving the lives of young south Londoners, of bringing them through the youth ranks to star in the first team, and that is one of the reasons focus turned from the stadium redevelopment to the academy first. Textor agrees with Parish’s faith in the south London talent pool and has deliberately targeted clubs in areas where there is lots of local talent and proven paths to the top of the game. This attitude also explains why he was initially interested in Benfica, as Portugal is both a producer of great players but also an importer of young Brazilian talent, and Molenbeek, as Belgium is another football hotbed. But Molenbeek’s usefulness in terms of producing big transfer fees is always going to be limited by their size and the unlikelihood that they will ever play in European competitions. That is where stars are created and recognised. It is also where the most GBE points are earned. Simply put, any player who has a Europa League or Europa Conference League campaign on his CV has gone a long way to qualifying for a UK work permit. So, Textor was always looking for a bigger European club to add to the group as well, hence his move for Lyon. His proposed purchase of a majority stake in the club’s ownership vehicle, OL Group, a listed company, is a far bigger and more complicated investment than his previous football acquisitions. For his part, Textor has never denied that he requires significant help to complete the deal, which will cost close to £700 million, but his attempts to find that external investment have dragged on for over six months. The original plan was for American billionaire Bill Foley to provide the money, but he pulled out at the end of the summer and decided to buy Bournemouth instead. Textor is understood to have found new partners but it has not been easy. In the meantime, his relationship with Parish is understood to have frayed. Palace’s situation is further complicated by David Blitzer and Josh Harris, the other two general partners at the club, having launched a takeover bid for Chelsea earlier this year. That bid was unsuccessful, but it cast clear doubt over their long-term commitment to Palace. It is a potentially awkward situation where only Parish has his attention solely on Palace. He has always held control of the club and has overseen the most successful period in its history by doing things carefully and gradually. Caution, naturally, abounds.
The advancement of the academy was a major project and so is the stadium redevelopment. The latter requires significant capital. In 2018, it was anticipated to cost £100 million. Now they will surely be looking at a figure north of that. But would Blitzer and Harris be prepared to put funding into a long-term project? A united boardroom would certainly make matters easier, too. An agreement with Sainsbury’s supermarket has been reached over a plot of land needed and Parish has said he hopes to break ground on the project towards the end of 2023. Will this affect Palace’s plans for the January transfer window? It is difficult to know. It is in everyone’s interest for Palace to improve the squad in January and Parish told HLTCO that the introduction of five substitutes has made it more important to bolster their numbers. Patrick Vieira has repeatedly expressed the need to add players but insists it is about finding the right player, with quality preferred over quantity. The main question will be whether the finances are available. Palace fans will be eager for this to be resolved one way or the other without any impact on the club. Some will welcome the multi-club model, but there will be others who are uncertain of its benefits. Adding another club could make that division more aparent. Edited by EddieMac (02 Jan 2023 9.32am) Thanks for posting. I am not sure how I feel about this but am bordering on uneasy
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| samprior Hamburg 02 Jan 23 9.40am |
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Cheers, much appreciated Originally posted by EddieMac
Why has John Textor bought Lyon – and how does it affect Crystal Palace? By Matt Woosnam and Matt Slater US businessman John Textor has bought French side Lyon. Textor’s purchase of Lyon – which was initiated in June – has seen him add a fourth club to his portfolio, which already included Belgian club RWD Molenbeek and Brazilian side Botafogo, as well as a 40 per cent stake in Palace. So why did he want to buy the Ligue 1 side and what does it all mean for Palace? Why did Textor want to buy Lyon? Textor is invested in the multi-club model of ownership, similar to that of the City Football Group and Red Bull, whose stable of clubs is arguably the most successful multi-club group in global football.
This has been in the background for some time, starting earlier this year before the attempt to make a purchase was formalised. The idea is for Palace and Lyon to sit atop the multi-club model and to benefit from the other clubs, but that all the partnerships are also mutually beneficial. Botafogo offers an avenue into South American talent, Molenbeek enables them to gain the points required for a Governing Body Endorsement (GBE) — a points-based system in which players from overseas need to earn at least 15 points to be eligible to play for a Premier League or EFL team — and Lyon helps expand the talent pool available. He has ambitious objectives and believes the only way to compete with the wealthiest clubs is through this multi-club model. Lyon is another step in that direction given its significant resources.
The plan was to “regain the highest level, in France and in Europe, while respecting the values ​​of the club’s DNA such as youth, work and self-sacrifice”, with a focus on the academy. Why did an English football club have a say in who owns a club in France? As Textor’s shares in Palace have been moved into that new company, Eagle Football Holdings, a review was needed under the Premier League’s Owners and Directors test. A previous statement from Lyon noted that the purchase of the club by Textor through Eagle Football Holdings was being held up because it required the agreement of the Premier League, who had requested the agreement of Palace’s shareholders. What is Textor’s long-term ambition? Textor’s eagerness to pursue a multi-club model is out of keeping with the manner in which Palace have gone about their business since Parish, along with three others, bought the club out of administration in 2010, and then won promotion in 2013. The argument would be that an element of evolution is required as the landscape changes. Parish has repeatedly spoken of an ideal scenario being that the entire Palace starting XI would consist of homegrown talent from the local area, schooled through what is now a revamped £20million academy. He is rightly proud of the club’s dedication to improving the lives of young south Londoners, of bringing them through the youth ranks to star in the first team, and that is one of the reasons focus turned from the stadium redevelopment to the academy first. Textor agrees with Parish’s faith in the south London talent pool and has deliberately targeted clubs in areas where there is lots of local talent and proven paths to the top of the game. This attitude also explains why he was initially interested in Benfica, as Portugal is both a producer of great players but also an importer of young Brazilian talent, and Molenbeek, as Belgium is another football hotbed. But Molenbeek’s usefulness in terms of producing big transfer fees is always going to be limited by their size and the unlikelihood that they will ever play in European competitions. That is where stars are created and recognised. It is also where the most GBE points are earned. Simply put, any player who has a Europa League or Europa Conference League campaign on his CV has gone a long way to qualifying for a UK work permit. So, Textor was always looking for a bigger European club to add to the group as well, hence his move for Lyon. His proposed purchase of a majority stake in the club’s ownership vehicle, OL Group, a listed company, is a far bigger and more complicated investment than his previous football acquisitions. For his part, Textor has never denied that he requires significant help to complete the deal, which will cost close to £700 million, but his attempts to find that external investment have dragged on for over six months. The original plan was for American billionaire Bill Foley to provide the money, but he pulled out at the end of the summer and decided to buy Bournemouth instead. Textor is understood to have found new partners but it has not been easy. In the meantime, his relationship with Parish is understood to have frayed. Palace’s situation is further complicated by David Blitzer and Josh Harris, the other two general partners at the club, having launched a takeover bid for Chelsea earlier this year. That bid was unsuccessful, but it cast clear doubt over their long-term commitment to Palace. It is a potentially awkward situation where only Parish has his attention solely on Palace. He has always held control of the club and has overseen the most successful period in its history by doing things carefully and gradually. Caution, naturally, abounds.
The advancement of the academy was a major project and so is the stadium redevelopment. The latter requires significant capital. In 2018, it was anticipated to cost £100 million. Now they will surely be looking at a figure north of that. But would Blitzer and Harris be prepared to put funding into a long-term project? A united boardroom would certainly make matters easier, too. An agreement with Sainsbury’s supermarket has been reached over a plot of land needed and Parish has said he hopes to break ground on the project towards the end of 2023. Will this affect Palace’s plans for the January transfer window? It is difficult to know. It is in everyone’s interest for Palace to improve the squad in January and Parish told HLTCO that the introduction of five substitutes has made it more important to bolster their numbers. Patrick Vieira has repeatedly expressed the need to add players but insists it is about finding the right player, with quality preferred over quantity. The main question will be whether the finances are available. Palace fans will be eager for this to be resolved one way or the other without any impact on the club. Some will welcome the multi-club model, but there will be others who are uncertain of its benefits. Adding another club could make that division more aparent. Edited by EddieMac (02 Jan 2023 9.32am)
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| Dubai Eagle 02 Jan 23 9.53am |
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Its an interesting article that's for sure -
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Croydon-Trucker  02 Jan 23 10.49am |
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Originally posted by EddieMac
Why has John Textor bought Lyon – and how does it affect Crystal Palace? By Matt Woosnam and Matt Slater US businessman John Textor has bought French side Lyon. Textor’s purchase of Lyon – which was initiated in June – has seen him add a fourth club to his portfolio, which already included Belgian club RWD Molenbeek and Brazilian side Botafogo, as well as a 40 per cent stake in Palace. So why did he want to buy the Ligue 1 side and what does it all mean for Palace? Why did Textor want to buy Lyon? Textor is invested in the multi-club model of ownership, similar to that of the City Football Group and Red Bull, whose stable of clubs is arguably the most successful multi-club group in global football.
This has been in the background for some time, starting earlier this year before the attempt to make a purchase was formalised. The idea is for Palace and Lyon to sit atop the multi-club model and to benefit from the other clubs, but that all the partnerships are also mutually beneficial. Botafogo offers an avenue into South American talent, Molenbeek enables them to gain the points required for a Governing Body Endorsement (GBE) — a points-based system in which players from overseas need to earn at least 15 points to be eligible to play for a Premier League or EFL team — and Lyon helps expand the talent pool available. He has ambitious objectives and believes the only way to compete with the wealthiest clubs is through this multi-club model. Lyon is another step in that direction given its significant resources.
The plan was to “regain the highest level, in France and in Europe, while respecting the values ​​of the club’s DNA such as youth, work and self-sacrifice”, with a focus on the academy. Why did an English football club have a say in who owns a club in France? As Textor’s shares in Palace have been moved into that new company, Eagle Football Holdings, a review was needed under the Premier League’s Owners and Directors test. A previous statement from Lyon noted that the purchase of the club by Textor through Eagle Football Holdings was being held up because it required the agreement of the Premier League, who had requested the agreement of Palace’s shareholders. What is Textor’s long-term ambition? Textor’s eagerness to pursue a multi-club model is out of keeping with the manner in which Palace have gone about their business since Parish, along with three others, bought the club out of administration in 2010, and then won promotion in 2013. The argument would be that an element of evolution is required as the landscape changes. Parish has repeatedly spoken of an ideal scenario being that the entire Palace starting XI would consist of homegrown talent from the local area, schooled through what is now a revamped £20million academy. He is rightly proud of the club’s dedication to improving the lives of young south Londoners, of bringing them through the youth ranks to star in the first team, and that is one of the reasons focus turned from the stadium redevelopment to the academy first. Textor agrees with Parish’s faith in the south London talent pool and has deliberately targeted clubs in areas where there is lots of local talent and proven paths to the top of the game. This attitude also explains why he was initially interested in Benfica, as Portugal is both a producer of great players but also an importer of young Brazilian talent, and Molenbeek, as Belgium is another football hotbed. But Molenbeek’s usefulness in terms of producing big transfer fees is always going to be limited by their size and the unlikelihood that they will ever play in European competitions. That is where stars are created and recognised. It is also where the most GBE points are earned. Simply put, any player who has a Europa League or Europa Conference League campaign on his CV has gone a long way to qualifying for a UK work permit. So, Textor was always looking for a bigger European club to add to the group as well, hence his move for Lyon. His proposed purchase of a majority stake in the club’s ownership vehicle, OL Group, a listed company, is a far bigger and more complicated investment than his previous football acquisitions. For his part, Textor has never denied that he requires significant help to complete the deal, which will cost close to £700 million, but his attempts to find that external investment have dragged on for over six months. The original plan was for American billionaire Bill Foley to provide the money, but he pulled out at the end of the summer and decided to buy Bournemouth instead. Textor is understood to have found new partners but it has not been easy. In the meantime, his relationship with Parish is understood to have frayed. Palace’s situation is further complicated by David Blitzer and Josh Harris, the other two general partners at the club, having launched a takeover bid for Chelsea earlier this year. That bid was unsuccessful, but it cast clear doubt over their long-term commitment to Palace. It is a potentially awkward situation where only Parish has his attention solely on Palace. He has always held control of the club and has overseen the most successful period in its history by doing things carefully and gradually. Caution, naturally, abounds.
The advancement of the academy was a major project and so is the stadium redevelopment. The latter requires significant capital. In 2018, it was anticipated to cost £100 million. Now they will surely be looking at a figure north of that. But would Blitzer and Harris be prepared to put funding into a long-term project? A united boardroom would certainly make matters easier, too. An agreement with Sainsbury’s supermarket has been reached over a plot of land needed and Parish has said he hopes to break ground on the project towards the end of 2023. Will this affect Palace’s plans for the January transfer window? It is difficult to know. It is in everyone’s interest for Palace to improve the squad in January and Parish told HLTCO that the introduction of five substitutes has made it more important to bolster their numbers. Patrick Vieira has repeatedly expressed the need to add players but insists it is about finding the right player, with quality preferred over quantity. The main question will be whether the finances are available. Palace fans will be eager for this to be resolved one way or the other without any impact on the club. Some will welcome the multi-club model, but there will be others who are uncertain of its benefits. Adding another club could make that division more aparent. Edited by EddieMac (02 Jan 2023 9.32am)
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| sydtheeagle England 02 Jan 23 11.34am |
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Originally posted by waddy
So Textor showed his true cards - Palace is not for him so take a hike & sell your share ! I simply don't understand the animosity towards Textor. For a start, the line "Textor showed his true colours" is completely laughable. He showed his true colours the day he bought into Palace as an I N V E S T O R. Do you not know what an "investor" is? Apparently not, so here's the answer: an investor is someone who invests (the clue's in the name) money in a business in pursuit of a financial return. That's what Textor did. We knew that was what he was doing. And we were happy to take his investment at face value. As it happens, we've done pretty well out of it. Like all investors sooner or later, the time has come when he wants to take his portfolio and invest in another direction. Nothing wrong with that at all. If you expected any other outcome, frankly you're an idiot. I suspect - this is where reading between the lines begins - that Textor's investment in Palace was at least in part based on the hope that he could expand his ownership share of the club, particularly with (at the time) Blitzer and Harris looking to sell and shift their resources towards Chelsea. When the Chelsea deal fell through (this was really the key moment in the situation we now find ourselves in), any urgency Blitzer and Harris had with regard to divesting their interest in Palace clearly changed and I suspect that's the point when Textor's interest in us, understandably, started to wane and he began to look for another club. I imagine had Harris and Blitzer got Chelsea, Textor was lined up to take on their share in Palace (or at least part of it); but that was taken off the table. His desired endgame didn't work out. The big question in all this, for me (but it should be for you, too) is "what are Harris and Blitzer doing?" They seem tongue-tied in their approach to the club. There's no apparent urgency to sell their share (though they appear to be quietly open to offers) but at the same time, no desire to really invest in the club either. Thus, we stumble on in a state of neither feast nor famine; doing too well on the pitch for them to feel their investment in a PL side is immediately threatened, yet not well enough for them to want to commit the resources necessary for us to really progress. I think until Harris and Blitzer make a clear decision about their intent, things will remain as they are now, somewhat in stasis. And to be honest, while I understand their position, I think we deserve better than that. In a perfect world, Harris and Blitzer (who DO have serious money, by the way) would decide, after this period of reflection, to go all-in on Palace and properly engage with the club. Failing that, they'd put us openly on the market and try to attract a top-tier, wealthy bidder. But what it more likely they will do is continue what they're doing now, reaping the benefits of their investment, trying to increase its value, but without putting any more real money in. Their immediate goal will probably be the new stand with its potential for dramatically increased revenue streams which, if they can build it without losing our PL status, would give them a much more saleable asset in three years' time. Furthermore, they'll gamble the economy will have rebounded by then, making it a much more auspicious time to sell the club financially. If I'm right, I think they will invest what they need to to keep the squad fit-for-purpose in the meantime, but they won't be handing out generous transfer budgets any time soon, more that they'll be relying on the sort of "eye for a bargain" approach that we've used (it must be said, to great effect) so far. So in summary, I don't find our present situation either terribly worrying or particularly inspiring. We are what we are; a mid-tier PL side that's incrementally improving, committed to building off-the-pitch, with generally responsible owners who aren't going to throw money at the wall but who will invest as required to maintain our status. If you think the holy grail is having a sovereign wealth fund from the middle east owning the club then that won't be enough for you. In my view, things could be a whole lot worse.
Sydenham by birth. Selhurst by the Grace of God. |
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| Midlands Eagle 02 Jan 23 11.35am |
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Originally posted by Croydon-Trucker
Who knows whether or not the relationship between the two is frayed because if it is they are hardly going to discuss it with journalists. Textor is the largest shareholder with 40% and although he can't oust Parish on his own he could with the other shareholders' backing although I'm not sure why he would want to
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| Badger11 Beckenham 02 Jan 23 11.42am |
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Originally posted by Midlands Eagle
Who knows whether or not the relationship between the two is frayed because if it is they are hardly going to discuss it with journalists. Textor is the largest shareholder with 40% and although he can't oust Parish on his own he could with the other shareholders' backing although I'm not sure why he would want to If Textor is taken at face value then I agree it makes no sense to oust Parish who has done a good job with the club on a limited budget. However if Textor decides on some asset stripping to prop up other bits of his empire then he would definitely need to get rid of Parish, of course he would need support from his fellow Americans and what they think god only knows they never talk to the fan base.
One more point |
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| Dubai Eagle 02 Jan 23 12.29pm |
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I could see them getting rid of Parish if his views didn't align with theirs to the extent of it being a serious difference of opinion over the direction of the club, but as long as Palace are in or around mid table in the PL it would be difficult for anyone to argue that they could do dramatically better following a different strategy without significant additional investment (so their existing investments are being well taken care of under the current arrangement) if they got rid of Parish they would either have to take up the day to day running of the club themselves or put their own senior executive in place- Originally posted by Badger11
If Textor is taken at face value then I agree it makes no sense to oust Parish who has done a good job with the club on a limited budget. However if Textor decides on some asset stripping to prop up other bits of his empire then he would definitely need to get rid of Parish, of course he would need support from his fellow Americans and what they think god only knows they never talk to the fan base.
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| Croydon-Trucker 02 Jan 23 1.19pm |
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Originally posted by Midlands Eagle
Who knows whether or not the relationship between the two is frayed because if it is they are hardly going to discuss it with journalists. Textor is the largest shareholder with 40% and although he can't oust Parish on his own he could with the other shareholders' backing although I'm not sure why he would want to I dont know myself if their relationship is frayed or not im just going by what it said in the article .
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| crystal-purley Purley 02 Jan 23 4.42pm |
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Originally posted by Badger11
If Textor is taken at face value then I agree it makes no sense to oust Parish who has done a good job with the club on a limited budget. However if Textor decides on some asset stripping to prop up other bits of his empire then he would definitely need to get rid of Parish, of course he would need support from his fellow Americans and what they think god only knows they never talk to the fan base. If Parish sells his shares then what would happen to the Main stand rebuild, and if that happens when would the (very) old stand be rebuilt especially if OL or Botafogo need new players.
Enjoying getting up later and not having someone who knows better than me (apart from the missus of course). |
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| ASCPFC Pro-Cathedral/caravan park 02 Jan 23 4.47pm |
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I'd be worried if I heard we'd accepted a bid for Eze, Olise, Guehi or Andersen.
Red and Blue Army! |
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| sydtheeagle England 03 Jan 23 9.51am |
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Originally posted by Badger11
If Textor is taken at face value then I agree it makes no sense to oust Parish who has done a good job with the club on a limited budget. However if Textor decides on some asset stripping to prop up other bits of his empire then he would definitely need to get rid of Parish, of course he would need support from his fellow Americans and what they think god only knows they never talk to the fan base. But why would Textor asset-strip an asset he owns to benefit another asset he also owns? That would be robbing Peter to pay Paul; the advantage he'd accrue increasing the value of one asset would be a loss to the value of another asset, leaving him no better off. Generally, asset strippers act when their backs are against the wall, when they desperately need cash for reasons unrelated to their investment. Unless Textor is in deep financial trouble personally, he'd have no motivation to asset strip Palace. Furthermore, our multi-owner business model mitigates against asset stripping, which is hard to pull off unless you have sole control over the asset itself which in the case of Palace, Textor doesn't. I sort of agree that if relations with Parish broke down irreparably between not just Textor but also Harris and Blitzer then you could see them bringing in their own man but I think the chances of this happening are vanishingly small. Rich people can be ego-driven when they don't get their own way but they're rarely stupid (you don't get rich by being dumb) and Parish - I'm sure they'd be the first to admit - has done a pretty outstanding job of running their investment even if from time-to-time they don't agree on everything. I think what's going on at the club isn't really anything to worry about or major news. We are what we are; stable, with a major capital spend in front of us (the new stand) and limited funds for the squad as a result, with owners who are generally committed to the club if not at the mega-rich level some of us would like, and probably in play if a truly wealthy buyer appeared on the horizon out of the blue, but not being aggressively marketed for sale in the meantime. I don't expect the way we've been run for the past few years to change anytime soon. Once the new stand has been built and presuming the current general economic malaise improves (both of which will probably happen around the same time, about three years from now), that would be when I think the status quo might change. A club with a more lucrative and by then fit-for-purpose ground in London in a strong economy would be a much better position for Harris, Blitzer, and Textor to cash in their investment. Until then, short of a sovereign wealth fund appearing over the hill having suddenly decided "we want Palace", the song will likely remain the same.
Sydenham by birth. Selhurst by the Grace of God. |
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| Badger11 Beckenham 03 Jan 23 11.41am |
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Originally posted by sydtheeagle
But why would Textor asset-strip an asset he owns to benefit another asset he also owns? That would be robbing Peter to pay Paul; the advantage he'd accrue increasing the value of one asset would be a loss to the value of another asset, leaving him no better off. Generally, asset strippers act when their backs are against the wall, when they desperately need cash for reasons unrelated to their investment. Unless Textor is in deep financial trouble personally, he'd have no motivation to asset strip Palace. Furthermore, our multi-owner business model mitigates against asset stripping, which is hard to pull off unless you have sole control over the asset itself which in the case of Palace, Textor doesn't. I sort of agree that if relations with Parish broke down irreparably between not just Textor but also Harris and Blitzer then you could see them bringing in their own man but I think the chances of this happening are vanishingly small. Rich people can be ego-driven when they don't get their own way but they're rarely stupid (you don't get rich by being dumb) and Parish - I'm sure they'd be the first to admit - has done a pretty outstanding job of running their investment even if from time-to-time they don't agree on everything. I think what's going on at the club isn't really anything to worry about or major news. We are what we are; stable, with a major capital spend in front of us (the new stand) and limited funds for the squad as a result, with owners who are generally committed to the club if not at the mega-rich level some of us would like, and probably in play if a truly wealthy buyer appeared on the horizon out of the blue, but not being aggressively marketed for sale in the meantime. I don't expect the way we've been run for the past few years to change anytime soon. Once the new stand has been built and presuming the current general economic malaise improves (both of which will probably happen around the same time, about three years from now), that would be when I think the status quo might change. A club with a more lucrative and by then fit-for-purpose ground in London in a strong economy would be a much better position for Harris, Blitzer, and Textor to cash in their investment. Until then, short of a sovereign wealth fund appearing over the hill having suddenly decided "we want Palace", the song will likely remain the same. I'm not saying he would, just speculating. When people are in trouble they will do anything to stave off the inevitable. Maxwell robbed all his companies blind it was just a question of which one went bust first. FYI
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| sydtheeagle England 04 Jan 23 9.56am |
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Originally posted by Badger11
I'm not saying he would, just speculating. When people are in trouble they will do anything to stave off the inevitable. Maxwell robbed all his companies blind it was just a question of which one went bust first.
From what research I've been able to do, Textor is clearly far from mega-rich; more (ironically) the sort of bloke who owned a football club two or three decades ago; someone who's done well in business and made some serious money, but not even close to being in the financial league of the sorts who own top teams today (like Blitzer and Harris). It seems to me that his model is really to spot opportunities, then identify and bring bigger fish to the table (presumably leveraging his network) to close the deal, only using his own more limited funds alongside theirs. In a way, he's running a sports investment business with a bit of prop trading built into the bargain, which is fair enough. With that model, he probably needs Parish (someone competent to run the investment once it's been made) at least as much as Parish needs him and some degree of tension is probably built into the relationship. But unless things fall apart spectacularly, I'd say there's no reason to worry. Interestingly, what the OL deal shows (and what Textor appears to have confirmed with his own words) is that getting into Europe really is the key to a financial return. Palace sitting in 8th-12th place in the PL isn't enough; it's European football or bust if the model is going to work (pay off). And the investment in OL demonstrates not so much a lack of enthusiasm for Palace as an acceptance that the top end of the PL is to all intents and purposes now a closed shop. To that end, Newcastle and their owners have really hurt us; they've now taken up the last remaining place in Britain's European contingent. Unless the PL ends up going in an NFL-like direction (salary caps and rules the equalise competition and prevent financial advantage dominating the competition), the reality is that clubs like ours face a future feeding on scraps.
Sydenham by birth. Selhurst by the Grace of God. |
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 robdave2k 04 Jan 23 10.00am |
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Originally posted by Badger11
If Textor is taken at face value then I agree it makes no sense to oust Parish who has done a good job with the club on a limited budget. However if Textor decides on some asset stripping to prop up other bits of his empire then he would definitely need to get rid of Parish, of course he would need support from his fellow Americans and what they think god only knows they never talk to the fan base. Asset stripping only makes sense if there is an underlying asset In this case the asset is the future income flow from the If we were sat on several hundred million of buildings that's one thing - we aren't. The asset is the future income flows
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| Badger11 Beckenham 04 Jan 23 10.15am |
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Originally posted by robdave2k
Asset stripping only makes sense if there is an underlying asset In this case the asset is the future income flow from the If we were sat on several hundred million of buildings that's one thing - we aren't. The asset is the future income flows I don't pretend to know how these things work but you only have to look at the number of clubs where this has occurred. Portsmouth being an obvious one. Ask Charlton fans about asset stripping owners buying the club for £1 and then using the clubs money to buy ranger rovers and luxury flats.
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| doombear Too far from Selhurst Park 04 Jan 23 1.14pm |
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Originally posted by sydtheeagle
Interestingly, what the OL deal shows (and what Textor appears to have confirmed with his own words) is that getting into Europe really is the key to a financial return. Palace sitting in 8th-12th place in the PL isn't enough; it's European football or bust if the model is going to work (pay off). And the investment in OL demonstrates not so much a lack of enthusiasm for Palace as an acceptance that the top end of the PL is to all intents and purposes now a closed shop. To that end, Newcastle and their owners have really hurt us; they've now taken up the last remaining place in Britain's European contingent. Unless the PL ends up going in an NFL-like direction (salary caps and rules the equalise competition and prevent financial advantage dominating the competition), the reality is that clubs like ours face a future feeding on scraps.
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