Businessman Textor to sell his stake in Palace

Crystal Palace co-owner John Textor said on Friday he is trying to sell his majority stake in the club, which he owns 45 per cent of through his company Eagle Football Holdings, and has appointed the Raine Group to find a buyer.

Palace is one of four clubs Textor owns, along with majority stakes in French side Lyon, Brazilian first division club Botafogo and Belgian outfit RWD Molenbeek.

"As proud as we are to have been part of the resurgence of Crystal Palace, it remains true that Crystal Palace is an independent club run by a man with a steady hand who has achieved a level of sustainability that is incredibly rare in today's Premier League," Textor said in a statement.

"An integrated sporting model like ours at Eagle is simply not a perfect fit for Crystal Palace," added the businessman, who is "proud" of his contribution to the club and is confident that a number of potential partners will step in.

Coach Oliver Glasner has revitalised a young Palace side, lifting them out of the relegation zone and into 10th place in the Premier League this season after replacing Roy Hodgson, which bodes well for their future.

The BBC reported that the American businessman is keen to maintain an involvement in English football and would consider Everton as an opportunity if the protracted sale to 777 Partners is not resolved.

Eagle Football cannot buy another Premier League club without first selling its stake in Palace.