- Crystal Palace risk losing their Europa League spot due to ownership conflict
- John Textor is trying to sell his 43% stake in the club to meet UEFA regulations
- UEFA’s decision is expected within the next 10 days after meeting Palace officials
Key Takeaways:
John Textor is trying to sell his shares in Crystal Palace in order to allow the London club to participate in European competitions next season. He is the largest shareholder in the club, owning 43 percent. Palace qualified for the Europa League after winning the FA Cup, but their participation is in doubt because Textor also owns French club Lyon, and UEFA rules do not allow two teams with the same owner to compete in the same tournament.
Crystal Palace part-owner John Textor, who also owns Lyon, is trying to sell his majority share in the club as they try to avoid being disqualified from the Europa League next season for breaking UEFA's multi-club ownership rules.
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Representatives from the Eagles and UEFA met in Nyon yesterday, and a decision from the football governing body is expected within 10 days. Despite owning 43 percent of Palace, Textor holds only 25 percent of the voting rights when it comes to club decisions. He had been trying to acquire full ownership of the club but failed, and is now forced to move in the opposite direction.
“Everyone in the UK knows I don’t have decisive influence at Palace,” Textor commented. “The meeting was good. They listened to us and we’ll see what happens. Now we are trying to sell. We wanted to buy, but it became clear that won’t happen, so we’re trying to help Palace in this situation with UEFA,” he added.