Josh Harris, the owner of the Washington Commanders, will have an opportunity to acquire a Premier League team when a sizeable portion of Crystal Palace is put up for sale.
Behind the scenes at Crystal Palace, things are changing as Eagle Football Holdings and owner John Textor consider selling their shares of the team. Additionally, it might allow NFL billionaire Josh Harris to seize the initiative.
In addition to owning 18% of the South London club, Harris also owns the NBA team the Philadelphia 76ers and the Washington Commanders. The Independent reports that Textor intends to sell all of his 45 percent ownership in the Eagles and wants out of Selhurst Park.
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The article stated that potential buyers of Textor would only move further if they were able to get a majority ownership. In that sense, Harris is already ahead because he would surpass the 50% mark if he were to purchase Eagle Football Holdings’ shares. David Blitzer, Harris’ business partner, owns an additional 18%.
But Palace chairman Steve Parish’s 10 percent interest, which comes with disproportionate voting rights, complicates matters, and potential buyers might have to buy him out in order to gain complete control over the team. However, that is not going to deter anyone from seizing the opportunity to purchase a Premier League team.
Palace is a particularly appealing proposition in that regard, having established itself as part of the furniture in the top flight. The Eagles are in their 11th season in the Premier League since being promoted in 2013 and sit 14th in the table, six points clear of the relegation zone.
Harris, who also owns ice hockey team the New Jersey Devils, led a consortium alongside basketball icon Earvin “Magic” Johnson that bought the Commanders in 2023 for £4.75billion, the most ever paid for a sports team. Forbes estimates Harris has a net worth in the region of £6.2b.
The Premier League environment may alter significantly if Selhurst Park’s ownership changes. With the seven superpowers—Manchester United, Manchester City, Liverpool, Arsenal, Chelsea, Tottenham, and Newcastle United—often having competing interests with smaller rivals, like the failed European Super League (ESL) breakaway, Parish has long been the face of the club’s boardroom and is a leading voice for “the other 13” top-flight clubs.
Steve Parish owns 10 per cent of Crystal Palace, with outsized voting rights.
Parish’s potential exit would be devastating to the other 13 clubs during a period when larger organizations have attempted—and, in the case of the ESL, failed—to bolster their position in the English game through significant structural reforms.
At this point, there is no formal bank mandate to start a bidding process, thus the selling process is informal, although Textor has informed potential bidders of its plans. The Belgian outfit RWD Molenbeek, the French powerhouse Olympique Lyon, and the Brazilian squad Botafogo are all owned by Textor’s Eagle Football Holdings.
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