John Textor considers buying Championship crisis club after selling Crystal Palace stake

John Textor has sold his stake in Crystal Palace but the American might not be out of English football for very long and already has his eyes on a potential club to invest in

John Textor is eyeing a takeover of Championship crisis club Sheffield Wednesday after departing Crystal Palace. The American has sold his 43% stake in the Premier League side after striking a £190m deal with New York Jets owner Woody Johnson.

A statement from the Eagles read: “Crystal Palace Football Club can confirm that Robert Wood Johnson, ‘Woody’, an American businessman and co-owner of the New York Jets, has signed a legally binding contract to purchase Eagle Football’s holding in the Club.

“Whilst the completion is pending approval from the Premier League and Women’s Super League, we do not envisage any issues and look forward to welcoming Woody as a partner and director of the club. We would like to go on record to thank John Textor for his contribution over the past four years and wish him every success for the future.”

But it appears that Textor is in no mood to be out of English football for very long at all. According to The Sheffield Star, he is interested in buying Championship side Sheffield Wednesday from their much-maligned current owner Dejphon Chansiri.

Textor is reportedly looking for an immediate re-investment into football, with the Championship considered his most likely route. Wednesday are one of a number of clubs being considered for a takeover.

READ MORE: Transfer news LIVE: Liverpool agree deal, Sesko U-turn, Man Utd’s Mbeumo problem and Sancho swapREAD MORE: Who is Woody Johnson? Controversial billionaire and Donald Trump’s pal to buy Crystal Palace stake

A number of parties are interested in the Hillsborough outfit but Textor’s wealth could potentially blow competition out of the water. A deal might be difficult to thrash out with Chansiri given his reluctance to sell Wednesday so far.

The Thai businessman has endured a woeful spell at the helm. The Owls suffered relegation to League One in 2021, with points deductions and transfer embargoes becoming a theme of his time in charge.

Some wages for May are yet to be paid, with players eligible to leave for nothing should they not receive their June pay packets on time. Meanwhile, Textor has underlined his desire to potentially buy a second-tier club.

Who will win promotion from the Championship this season? Share your predictions in the comments below

Upon leaving Palace, he said to The Athletic: “We’re turnaround guys, we like a construction project. There’s nothing more exciting for me than the idea of buying a second division team and getting promoted.

“But we might also look in the Premier League if we think there’s a real opportunity to catapult a team from mid-table to upper-table, we think we’re capable of doing that. Our strategy for Palace was to get to the Europa League every year, not just off of a cup win every hundred years.”

Join our new WhatsApp community and receive your daily dose of Mirror Football content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like. If you’re curious, you can read our Privacy Notice.