The Premier League drama just got hotter as one of Leeds United’s rivals has become the centre of a massive £400 million takeover bid, and the man behind it is no stranger to English football.
Reports claim that former Crystal Palace owner John Textor is now aiming to take control of Wolverhampton Wanderers, creating huge waves across the football world.
Ex-Crystal Palace Chief Eyes Premier League Return
John Textor, who once owned a stake in Crystal Palace, is said to be pushing for a big return to English football.
After selling his Palace shares earlier this year, the American businessman has now turned his attention to Wolves, one of Leeds United’s Premier League rivals, currently struggling near the bottom of the table.
Textor’s reported offer includes $200 million in cash and another $350 million in shares from his multi-club network known as the Eagle Football Group, which already owns stakes in Lyon, Botafogo, and RWDM Brussels.
He plans to relaunch this group on the New York Stock Exchange, hoping to make it one of the biggest multi-club football networks in the world.
Wolves’ Struggles Make Takeover Timing Key
It’s no secret that Wolves have endured a nightmare start to the season. The team remains winless after nine league games, sitting deep in the relegation zone.
Fans at Molineux are furious with the current owners, the Fosun Group, blaming poor decisions and lack of investment for the club’s decline.
After their painful 3-2 loss to Burnley, calls for a change at the top have only grown louder.
Many fans now see Textor’s potential arrival as a lifeline, though some remain cautious about his motives.
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Complications Could Block the Deal
However, the takeover is far from simple. Reports claim that the Fosun Group is not interested in selling a majority stake. Instead, they are only open to selling a minority share, something Textor might not agree to.
Additionally, Textor faces his own troubles. His company, Eagle Football Group, is currently in a legal battle with Ares Management, which lent him over £320 million to help repurchase Lyon in 2022.
There’s also a separate dispute with Iconic Sports Eagle Investment over a $75 million deal gone wrong, adding more confusion to an already messy situation.
What It Means for Leeds United and the Championship Picture
While this might not directly involve Leeds United, it still affects their position in English football.
Wolves are one of their football rivals, and any major takeover could shift the power balance, especially if Textor injects big money into the squad.
With Leeds pushing for a strong campaign after their Championship promotion, keeping an eye on rival ownership changes is crucial.
If the deal goes through, Leeds United fans could soon see Wolves rise again under new ownership, making the Premier League fight even more intense.
But for now, the saga continues, and Textor’s bold bid has left the football world talking.
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