Premier League set to green light intriguing deal for investor with Newcastle United links

The US-based investor was linked with a buyout of Newcastle United before PIF bought a majority stake.

The Premier League are understood to be set to give Newcastle United-linked investor John Textor the green light to complete a purchase of French outfit Lyon.

The Crystal Palace part-owner is currently in the process of transferring his 40% share of the Eagles, currently in his name, to his company, Eagle Football Holdings Limited. And if that process does get ratification, Textor is closing in on a deal to buy Ligue 1 giants Lyon, where the Magpies signed star man Bruno Guimaraes from in the January transfer window.

Textor has been building a football empire over the last few years with failed takeover attempts at United and Benfica on his resume, as well as successful deals for the likes of Palace and Brazilian side Botafogo completed.

The US businessman was in talks with Mike Ashley about a deal for United, as revealed by NewcastleWorld last year, but pulled out of negotiations.

He was then asked to come back to the table with a renewed offer but decided against it.

The club was sold to the Public Investment Fund of Saudi Arabia, PCP Capital Partners and RB Sports and Media in a deal worth around £305million in October 2021.

The Saudis have an 80% stake in the club, while the other two parties share 20%.

Crystal Palace part owner John Textor, who looked into a full buyout of Newcastle United as recently as February, 2021.