CRYSTAL PALACE’S new major shareholder Woody Johnson is set to be a target for a ‘takeover’ bid by Josh Harris.
Johnson recently became Palace’s biggest shareholder when he bought out John Textor’s 43 per cent stake in the club — but may be willing to quickly sell that on for the right cash.
The 78-year-old American has yet to go public on his plans at Palace and may have got involved to help compatriot Textor, who needed out of Selhurst Park because of multi-club ownership issues.
Harris already owns 18 per cent of Palace and is keen to extend his influence at the club.
Steve Parish currently calls the shots at Selhurst despite having a ten per cent stake.
A snag for Harris would be that adding Johnson’s shares to his own would go against Palace rules.
No individual is currently allowed to own more than 50 per cent — unless Palace vote to change that.
On Monday, Palace lost their appeal to be reinstated into the Europa League.
The Eagles subsequently released a strong statement, which began: “At a time when we should be celebrating our victory in the Community Shield at Wembley, the decision by UEFA and followed by the Court of Arbitration for Sport shows that sporting merit is rendered meaningless.
“When we won the FA Cup against Manchester City on that momentous day in May, our manager and players earned the right to play Europa League football.
“We have been denied that opportunity.
“It appears that certain clubs, organisations and individuals have a unique privilege and power.
“This growing and unhealthy influence has shattered the hopes and dreams of Crystal Palace supporters, and does not bode well for aspirational teams all over Europe competing to progress when rules and sanctions are unevenly applied in the most flagrant way.
“Multi-club structures hide behind the charade of a ‘blind trust’ while clubs such as ours, who have no connection to another club whatsoever, are prevented from playing in the same competition.
“To compound the injustice, clubs that appear to have huge informal arrangements with each other are also allowed to participate and even possibly play against each other.”
Read the full article here