Textor's business, Crystal Palace co-owning entity, issued a strike-off warning
John Textor's Eagle Football Holdings Faces Dissolution Threat
Looks like Crystal Palace shareholder John Textor’s Eagle Football Holdings company is in hot water, receiving a strike-off notice as it prepares for a grand IPO in the US.
The first Gazette "notice for compulsory strike-off," dated May 13, 2025, is now part of Eagle Football Holdings Limited's filing history.
Textor, who holds almost half of the Selhurst Park pearl, is one of the nine lively fellows linked to Eagle Football. He's joined by Michele Kang, owner of London City Lionesses and one of eight directors, including the likes of Mr. Kang himself.
The Yank's been hustling for an IPO in Eagle Football, certainly a chunk of a $1.1bn debt and equity recapitalization. He announced way back in November that he had secured a whopping $40m.
Now, what’s a notice for compulsory strike-off? UK Liquidators explains it as an announcement that an application has been tossed to shutter a company down forcibly.
"Compulsory strike-off is most likely initiated by Companies House, often due to a company’s neglect of accounting and filing obligations. When an application for compulsory strike-off is lodged, a bulletin is placed in the Gazette. This is known as the first Gazette notice for Compulsory strike-off."
Due Accounts
Eagle Football Holdings Limited's accounts have been left hanging, running more than nine months late. The latest filing, for the fiscal year ending June 30, 2023, should've been submitted by June 30, 2024, but it's still missing in action.
Its confirmation statement for September 26, 2024, was due on October 10, 2023, but you won't find it at Companies House either. Yet, Eagle Football Holdings managed to sneak in a filing in December 2023 – a change in secretary details, surprisingly after the due dates for the accounts and confirmation statement.
Textor, through Eagle Football Group, also has his hands full with Brazilian club Botafogo, Belgian side RWD Molenbeek, and Ligue 1 club Olympique Lyonnais.
Landing Everton in his grasp was, at one point, on his radar before the Friedkin Group nabbed the Merseyside club. Textor would’ve parted with his 45% Crystal Palace stake to purchase the Toffees, who soon plan to move into Bramley-Moore Dock stadium.
A strike-off notice disappears from sight when necessary documents are filed.
Enrichment Insights:
- The compulsory strike-off notice casts a question over Eagle Football Holdings Limited's financial health and compliance, potentially posing problems for Textor's US IPO plans.
- Failure to submit financial documents and ignore official communications could signify inactivity or financial trouble, leading to the company being struck off the register of companies.
- Eagle Football Holdings Limited, along with its subsidiary Eagle Football Holdings Bidco Limited, haven't filed their financial accounts for more than eleven months, raising suspicions of inactivity or financial distress.
- This situation echoes broader challenges faced by Textor's business ventures, including financial troubles with other clubs he owns, such as Olympique Lyonnais.
- John Textor's intention to invest in the sports sector extends beyond Eagle Football Holdings, as he also manages other sports clubs like Botafogo, RWD Molenbeek, and Olympique Lyonnais.
- The potential dissolution of Eagle Football Holdings due to the compulsory strike-off notice could pose challenges for Textor's plans to launch an Initial Public Offering (IPO) in the US.
- The lingering absence of Eagle Football Holdings' financial accounts, such as the accounts for the fiscal year ending June 30, 2023, and the confirmation statement for September 26, 2024, may suggest inactivity or financial difficulties within the company.
