A consortium featuring six-time NBA All-Star Jimmy Butler is reportedly preparing an offer to acquire a stake in Premier League side Crystal Palace.
The interested buyers, led by former Morgan Stanley sports executive Bejan Esmaili and former Roc Nation attorney Wajid Mir, are looking to purchase Eagle Football’s 43% stake in Crystal Palace. The Athletic report the U.S. consortium have a bid of over $200 million (£147.2 million) ready.
John Textor, the largest shareholder in Eagle Football, had previously agreed to a period of exclusivity with Stanley and Mir back in January, but no deal was ever officially put in motion. Now, the U.S. consortium, backed by the additional funding of American millionaires, is already holding talks to join Crystal Palace’s ownership group.
Should the deal go through, Crystal Palace’s value would skyrocket to a reported $465 million (£343 million). The change in ownership would also eliminate any potential issues surrounding the Eagles’ place in the Europa League next season.
After defeating Manchester City in the FA Cup final, Crystal Palace earned their spot in the European tournament, but Eagle Football also holds a majority stake in French side Lyon, who are competing in the tournament as well. UEFA has strict rules against multi-club groups playing in the same competition, putting Oliver Glasner’s squad at risk of being deemed ineligible to participate in the 2025–26 Europa League.
Crystal Palace would no longer have to worry about a potential harsh ruling from UEFA, though, if Butler & Co. succeed in buying out Textor and Eagle Football.
The Golden State Warriors star would join a growing list of American athletes expanding their portfolios with club ownership. LeBron James invested in Liverpool back in 2011, J.J. Watt has a minority stake in Burnley and Tom Brady is part of Birmingham City’s ownership group.
Crystal Palace finished 12th in the Premier League last season, but also lifted their first-ever major trophy. The pressure will be on the club’s potential new majority owners to continue building a winning culture in both England and now Europe.
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This article was originally published on www.si.com as NBA Star Jimmy Butler ‘Involved in Takeover Bid’ for Premier League Team.
