Why John Textor is leaving Crystal Palace and now eyeing Sheffield Wednesday takeover | OneFootball

John Textor has a reported interest in an immediate return to English football ownership after Crystal Palace sale

Former Crystal Palace shareholder John Textor has been linked with a potential takeover at Sheffield Wednesday.

According to The Star, the American businessman is weighing up an offer to purchase the Owls from Dejphon Chansiri.

Chansiri has come under fire for his running of the Yorkshire outfit, which includes two separate incidents involving late payments of wages in the last three months, leading to a charge from the EFL and a registration embargo.

Textor was previously with Crystal Palace, and also has ownership of several clubs elsewhere around the world, including French giants Lyon.

Here we look at why he is no longer a part of the Eagles’ ownership, and why he might want to take over at Sheffield Wednesday…

John Textor’s Crystal Palace exit

Textor agreed the sale of his shares in Crystal Palace earlier this week, with New York Jets owner Woody Johnson looking to finalise his £190 million purchase, according to the Guardian.

It is believed that it could take up to four weeks for the deal to be ratified, but no hiccups are currently expected, clearing the path for Textor to look elsewhere in English football.

This could see him turn his attention to Sheffield Wednesday, with the American remaining quite involved with football despite his impending exit from Selhurst Park.

Textor owned 44.9 per cent of the Premier League side, but a complication with UEFA led to pressure on him to sell.

It’s understood that his deal to sell this stake in the London outfit should clear the path for Palace to compete in the Europa League next season, having qualified through their FA Cup success at Wembley Stadium.

There were some doubts over their compliance to compete due to Textor’s ownership of Lyon, with UEFA rules outlawing clubs with the same owner to compete in European competition.

This rule impacted League of Ireland club Drogheda, who have been expelled from European competition for this season due to their owners’ control of Danish side Silkeborg.

Why John Textor is eyeing Sheffield Wednesday

It has been reported that Textor is seeking an immediate return to English football following this development with Palace.

It’s believed that he is targeting a Championship club, with a lot of speculation currently surrounding Sheffield Wednesday’s ownership.

Chasnsiri has received a lot of criticism from supporters for his handling of the club in recent years, with the team coming 12th in the second division last season.

The future of popular manager Danny Rohl is still uncertain amid the financial turmoil currently impacting their summer transfer plans.

Textor reportedly has the financial muscle to make a purchase like Sheffield Wednesday, but it remains to be seen whether Chansiri can be convinced to cash in.

A Florida-based consortium has already had two bids to buy the club rejected in recent months, with the Sheffield Wednesday owner looking to recoup as much money as he can from his investment into the Yorkshire outfit.