Former Crystal Palace shareholder John Textor has launched an audacious £400million bid to seize control of struggling Premier League side Wolverhampton Wanderers.
The move comes at a turbulent time for Wolves, both on and off the pitch and reflects growing frustration among fans and stakeholders over the club’s current ownership.
John Textor’s £400m Wolves Bid Amid Premier League Turmoil
Wolves remain the only Premier League team yet to secure a win this season. Sunday’s dramatic late defeat to Burnley only deepened their crisis, keeping them rooted to the bottom of the table and six points adrift of safety.
Boos rang out at Molineux following the final whistle, with supporters directing anger at the Fosun Group, the Chinese owners who’ve overseen the club since 2016.
According to The Athletic, Textor has offered a substantial package to acquire the club. The deal reportedly includes $200 million (£150 million) in cash, along with $350 million (£262.6 million) in shares.
“He is eager to add Wolves to his multi-club group portfolio.”
Wolves’ Portuguese Project Appeals to Textor
Textor, an American businessman, is no stranger to European football. His Eagle Football Group already owns stakes in Brazil’s Botafogo, France’s Olympique Lyonnais, and Belgium’s RWDM Brussels.
What draws him to Wolves is the club’s long-standing tradition of recruiting Portuguese talent, a recruitment model that fits neatly with EFG’s ambition to introduce South American players to the European stage. His interest, however, comes at a complicated moment.
Legal Web Surrounds Textor’s Bid
In the same week his offer for Wolves emerged, a Brazilian court overturned his decision to resign as president of Lyon in order to focus on protecting Botafogo. It’s just one of many ongoing legal headaches that could complicate any purchase.
Textor has also faced heat from major financial backers. Ares Management, who loaned him $425 million (£320 million) for the Lyon acquisition three years ago, are locked in negotiations seeking to recover their investment.
One proposed resolution would see Ares take over Lyon, while Textor retains control of Botafogo. Elsewhere, there’s friction with EFG shareholders, Iconic Sports Eagle Investment.
Their $75 million investment was insured under an agreement allowing Textor to buy back shares if EFG failed to go public, which it did in 2023. He missed the 12-month window to act, leading to a lawsuit now valued at £70 million.
Earlier this month, a Florida court dismissed Textor’s attempt to move the case to the UK, even though EFG is a British entity.
On Friday, 17th October, an English court ruled against Textor’s plea to dismiss the £70 million claim. A full trial is now expected in 2026.
Football Courtrooms and Financial Showdowns
In another twist, Textor recently appeared before the Court of Arbitration for Sport (CAS), tied to a dispute over Thiago Almada’s transfer from Atlanta United to Botafogo and subsequently to Atlético Madrid.
Meanwhile, Textor has already lost two cases in Belgium after accusing Thierry Dailly, the former owner of RWDM Brussels, of fraudulent activity.
His legal woes don’t end there. He’s also currently entangled in a row with former Wolves and Botafogo boss Bruno Lage, surrounding potential job offers within the Eagle Football Group.
Should Textor succeed, it would mark his re-entry into English football after parting ways with Crystal Palace earlier this year.
Many see his return as a bold power play, but with so many courtrooms in the rearview mirror, his road back to the Premier League may be anything but smooth. As Wolves fans continue to demand change at the top, the question remains: is Textor the saviour they’ve been waiting for or just another gamble?
Key Takeaways:
- Wolves are bottom of the Premier League and winless this season.
- John Textor has submitted a £400m bid, mixing cash and shares.
- Legal troubles in Brazil, Belgium, the UK, and the US may hinder his move.
- Textor owns stakes in Botafogo, Lyon, and RWDM Brussels.
- Ongoing disputes include Lyon financing, shareholder conflicts, and transfer disagreements.
