Controversial former Crystal Palace owner, John Textor, has presented a substantial offer of £400 million to acquire Wolverhampton Wanderers amidst dissatisfaction among fans with the current management at Molineux. Wolverhampton Wanderers, the only team yet to secure a victory in the Premier League this season, stands out as the sole team in the top six divisions of English football without a win.
The recent injury-time loss to Burnley on Sunday has left Wanderers at the bottom of the league table, trailing by six points from safety. Following the defeat, disgruntled home fans voiced their discontent towards the current owners, Fosun, who have held ownership of the club since 2016, and directed chants towards head coach Vitor Pereira, indicating a potential dismissal.
As initially disclosed by The Athletic, Textor, who divested a minority share in Crystal Palace earlier this summer, is eager to incorporate Wolves into his diverse multi-club portfolio. Reports suggest that an offer of £150 million, coupled with an additional £262.6 million in shares, has been tabled to procure Wanderers.
Textor presently holds interests in Brazilian outfit Botafogo, French club Olympique Lyonnais, and Belgium’s RWDM Brussels. The American entrepreneur admires Wolves’ enduring strategy of recruiting Portuguese players, aligning with the Eagle Football Group’s approach of introducing South American talent to the European market.
Nonetheless, sources from Wolves maintain that the club is not up for sale but is actively seeking external investment opportunities.
In a parallel development, a Brazilian court mandated the reversal of Textor’s decision to resign as club president at Lyon to safeguard Botafogo’s interests. Textor had successfully averted Lyon’s administrative relegation to Ligue 2 during the summer, solidifying his pivotal role within the organization. He is understood to retain a majority stake in EFG, Lyon’s parent company.
Amidst ongoing legal disputes with primary lender Ares Management, seeking repayment of a $425 million loan extended for the Lyon acquisition three years ago, negotiations are ongoing to potentially transfer Lyon to Ares while retaining Botafogo.
Another disagreement arose with EFG’s shareholders, Iconic Sports Eagle Investment, regarding an insurance policy linked to a failed plan to publicize EFG. Textor faces legal action in the UK due to EFG’s UK-based operations, alongside a separate case at the Court of Arbitration for Sport involving Atlanta United and Major League Soccer concerning player transfers.
Notably, an English court ruled against Textor’s attempt to dismiss Iconic’s £70 million claim, setting the stage for a comprehensive trial next year.
These events follow Textor’s legal setbacks in Belgium, where accusations of fraud against former RWDM Brussels owner Thierry Dailly were dismissed. Furthermore, former Wolves and Botafogo manager Bruno Lage has initiated legal action against Textor regarding alleged job offers within EFG.
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