New takeover bid revealed as American businessman tries and fails to buy the club – Report

Crystal Palace co-owner John Textor had a failed attempt to buy Newcastle United as recently as February this year, according to new reports.

New media outlet Newcastle World claims that the American businessman – founder of US technology company Facebank – tried to buy our club on a “buy now, pay later scheme”, but ultimately failed before buying 18% of Crystal Palace for £90 million this month.

Liam Kennedy claims that talks were ‘said to be progressing well on February 3, 2021’, only for Mike Ashley to pull the plug on any potential deal a week later.

The piece states that Textor had ambitious plans to allow Toon fans to own a slice of the club, similar to what Sir John Hall introduced back in the 1990s.

However, Mike Ashley had concerns about whether Textor could pass the Premier League’s owner and directors tests due to his past issues with bankruptcy, and questioned whether he was even rich enough to buy the club.

Ashley appears to have put all his eggs in the Saudi takeover basket, with hope that the deal can be given the green light in 2022.

You can read the story in full below:

3 thoughts on “New takeover bid revealed as American businessman tries and fails to buy the club – Report

  1. He hasn’t got enough to buy the club so what plans could he have except to take loans and money out.

      (Quote)

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