Crystal Palace owner John Textor says he is “one step closer” to a long-mooted IPO of his multi-club group Eagle Football Holdings after raising $40m in funding.
Portuguese investment fund UCEA Capital Partners has made the initial investment as part of a $100m financing round ahead of a planned $2bn float early next year.
Textor’s Eagle Football owns 45 per cent of Palace, as well as majority stakes in French giants Lyon, current Brazilian league leaders Botafogo and Belgian side Molenbeek.
“Eagle Football has reached an exciting inflection point, and this funding brings us one step closer to our IPO ambitions,” said the American.
“We are thrilled to have the backing of such a respected investor as we execute scalable entertainment and technology strategies to complement our network of global football clubs.”
UCEA Capital Partners chairman Joao Teikeira said Eagle Football was undervalued because it was “often confused as just a football organisation”.
“We value Eagle Football as a diverse entertainment and technology company that uniquely pursues audience engagement as its principal business strategy,” he added.
“This is a truly innovative and disruptive approach, in the business of football, and we are excited to support the company’s next phase of growth.”
Textor’s Lyon ownership has come under intense scrutiny after French football chiefs threatened the club with relegation for failing financial tests.
He is reported to remain in the market to sell his Palace shares, having vowed to give up his stake if a previous bid for Everton had succeeded.