Crystal Palace chief facing ‘big’ issues after £30m+ reveal – Keith Wyness
Everton’s former chief Keith Wyness believes Crystal Palace co-owner John Textor is facing “big issues” following Lyon’s financial struggles.
Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – insisted the recent developments will not impact Palace.
Textor, who is currently to trying to sell his 45 per cent stake in Palace, also owns a majority shareholding in Lyon through his multi-club group Eagle Football Holdings.
It was revealed ealier this month the French giants have been handed a provisional relegation to Ligue 2 and will observe a transfer ban following an audit of their finances.
But Textor claims he is now one step closer to an initial public offering (IPO) for Eagle Football after raising $40million (£31.5million) in funding.
Portuguese investment fund UCEA Capital Partners has made the initial investment as part of a $100million (£79million) financing round ahead of a planned $2billion (£1.58billion) float early next year.
Crystal Palace co-owner John Textor needs significant investment
Wyness insisted Textor now needs to quickly secure some more significant investment following the Lyon issues.
He told Football Insider‘s Inside Track podcast: “It doesn’t mean anything for Crystal Palace.
“I think this is all about Eagle Football Holdings and the Lyon problems. It’s also around trying to get that money for the IPO, which is crucial.
“It’s a good signal for him that he’s got $40million pledged against the first $100million.
“I had a look at the group that’s invested with Joao Teikeira in Portugal. They seem to be a sensible group, so let’s hope they know what they’re doing.
“They have obviously seen football in Portugal as a good way forward, a good investment.
“But the Lyon issues are still big and Textor’s got to handle that. I believe that part of the IPO is going to be repaying a lot of the debt that he’s already taken on.
“I’d like to see some progress on the IPO as soon as possible.
“The $40million is a good first step, but I’d like to see it followed quickly by some other significant investment.”
In other news, Crystal Palace’s January transfer plan revealed.
For more Crystal Palace and exclusive news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.