Crystal Palace majority shareholder John Textor has listed his Eagle Football company for an initial public offering (IPO) in America, in the latest twist to the ownership situation at Selhurst Park.
An IPO is when a private company first sells shares to the public.
Textor has been in talks to sell Eagle Football’s 43 per cent stake in Palace in a bid to clear the path for them to play in the Europa League next season.
FA Cup winners Palace are facing the prospect of being kicked out of the Europa League because Textor also owns a majority stake in Ligue 1 side Lyon.
Although Textor has no day-to-day involvement in the running of Palace, UEFA rules prevent two teams with the same ownership playing in the same competition.
It emerged last week that Textor was considering offers for Eagle Football’s stake in Palace, with New York Jets owner Woody Johnson among those in talks over a £170million deal.
A consortium of sport and entertainment executives, which includes the NBA star Jimmy Butler, has also been linked with an offer for Palace.
In the latest twist to the Palace ownership saga, a statement from Eagle Football said: “Eagle Football Holdings announced that it has confidentially submitted a draft registration statement on Form S-1 to the US Securities and Exchange Commission (SEC) relating to the proposed initial public offering of its ordinary shares.
“The size and price range for the proposed offering have yet to be determined. The initial public offering is subject to market and other conditions and the completion of the SEC’s review process.”
