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John Textor is reportedly attempting to put together a rescue package for Sheffield Wednesday as the troubled Championship club lurch from one crisis to another.
The American businessman, who sold his 43 per cent stake in Crystal Palace to New York Jets owner Woody Johnson in late June, is said to be working with financial backers in a bid to strike a deal with Owls owner Dejphon Chansiri.
According to The Sun, Textor has been sounding out potential investors and is keen to open talks with Chansiri, who remains abroad but is believed to be open to discussions.
Textor, who also owns French side Lyon and Brazilian outfit Botafogo, has a chequered reputation in English football.
His involvement at Palace blocked the south London club from competing in the Europa League, due to UEFA rules on multi-club ownership, despite them having qualified by winning the FA Cup.
UEFA ruled in July that because Textor held significant influence at both Palace and Lyon — who also reached the Europa League — the Eagles could not take part in the competition. The governing body instead demoted them to the Conference League.
American businessman John Textor is reportedly interested in buying Sheffield Wednesday
Textor currently part-owns Lyon and Botafogo, having previously held a stake in Crystal Palace
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Palace immediately appealed the decision, with chairman Steve Parish leading a 10-hour hearing at the Court of Arbitration for Sport in Lausanne earlier this month.
But CAS upheld UEFA's ruling, confirming that Palace would remain in the Conference League, with Nottingham Forest taking their place in the Europa League.
It was a bitter blow for the FA Cup winners, who have since reached the Conference League group stage after edging Norwegian side Fredrikstad 1-0 on aggregate in the play-off round.
Wednesday supporters, meanwhile, are desperate for change. Chansiri has presided over years of financial mismanagement, including repeated delays in paying players and staff.
Fans staged a high-profile protest on the opening weekend of the season at Leicester, deliberately entering the stadium five minutes late to highlight their frustration — and earning applause from the home crowd.
The Hillsborough club sit 23rd in the Championship with only one point from four matches after Saturday's 2-0 home defeat by Swansea.
They have already faced EFL scrutiny over missed wage payments earlier this year and are battling the threat of a points deduction.
Palace qualified for the Europa League by winning last season's FA Cup but they were later demoted to the Conference League due to UEFA rules on multi-club ownership
Sheffield Wednesday fans are desperate for owner Dejphon Chansiri to sell the Yorkshire club
Several protests have taken place against Chansiri, who bought the club back in January 2015
Chansiri has previously spoken with other prospective buyers, with reports suggesting he values Wednesday at around £100million.
He rejected an offer of £40m from a US consortium in June.
Textor, 59, is thought to view Wednesday as a similar project to Botafogo, who were languishing in Brazil's second tier when he bought in three years ago but went on to win the national title in 2024.
But with the club's finances in disarray, key players having left this summer, and protests against Chansiri growing louder, any takeover attempt is likely to be complicated.
