John Textor is the former Executive Chairman of fuboTV with a net worth of $250 million. John is now ready to buy Lyon Fc.
Textor is known as 'Hollywood's Virtual Reality Guru.' He has developed digital distribution business models for media, entertainment, and the internet. The American businessman retired from his position as the Executive Chairman of fuboTV in April 2020.
John is also the co-owner of Crystal Palace Football Club. He paid almost £90 million for his stake in the club in 2021. He now has a 40 percent stake at Crystal Palace.
Textor's desire to buy French football club Lyon or Olympique Lyonnais has hit some hindrances. He is now required to obtain an agreement with Crystal Palace's shareholders to move forward with the deal.
John Textor Net Worth 2022
John Textor net worth is 250 million dollars as he invested in the football and technological world. The deal with Lyon would be the 4th club in his portfolio.
Textor already has stakes at Belgian club RWD Molenbeek, Crystal Palace Football Club, and Brazilian club Botafogo.
John started building his portfolio at a young age and turned towards education and technology interests after leaving competitive skateboarding. He went to Wesleyan University from 1983 to 1987 and graduated with a Bachelor of Arts in Economics.
Textor was the Co-chairman of Digital Domain from May 2006 to September 2012. He acquired and restructured the company through an NYSE valuation of $450 million.
The American businessman was the Executive Chairman of Pulse Evolution Corporation, Las Vegas, Nevada, from October 2013 to July 2017. He remained a Managing Partner with Wyndcrest Holdings, LLC, for 23 years from 1997 till 2020.
Textor has invested in several technology-based companies, including Facebank Group, Inc., a character-based virtual entertainment company in Florida. He was the Chief Executive Officer with them from November 2013 to March 2020.
Facebank Group changed its name to fubo TV, Inc, and became a leading OTT digital entertainment company. John worked as the Head of the Studio and Executive Chairman and CEO of the company till 2020.
John Textor And Agreement With Lyon FC
John is highly interested in owning some stakes at Lyon FC. He believes in the multi-club model ownership just like that of Red Bull and City Football Group. Molenbeek, Palace, and Botafogo compete in the same league, and Textor has sensed an opportunity to expand his portfolio with Lyon.
Textor's idea is for Lyon and Palace to sit on top of the multi-club model, and he wants to benefit from the other clubs. The partnership is also mutually beneficial, according to The Athletic.
Being one of the richest businessmen in America, he has ambitious objectives for his investments. John believes that the multi-club model is the only was to compete with the wealthiest clubs.
The negotiations were first revealed by Lyon in June, and Textor revealed that he intends to bring out the values of development and self-improvement. .
He plans to regain the highest level in France and Europe, focusing on the academy. John also respects the values of the club's DNA, including self-sacrifice, work, and youth.
There is significant progress being made, and the parties are on track to reach an agreement.
Textor Is Passionate About Sports
As a former competitive skateboarder, John Textor has been passionate about sports. It is quite evident on his social media, as he frequently tweets about his football clubs.
John's Lyon deal has the backing of an investment company. Cannae Holdings, Inc., which Bill Foley of the Vegas Golden Knights NHL team controls. He is looking forward to using his experience in digital tech to find innovative methods to generate revenue from his football clubs.
Textor believes that Football is still in the dark ages when it comes to fan engagement. He also thinks the audience is much more valuable than the team, reports Bloomberg.