Crystal Palace’s hopes of staying in Europe have been given an apparent boost after UEFA bosses asked the club to submit more information.
Officials in Switzerland are understood to have requested that Eagles bosses further outline the ownership and decision-making structure at Selhurst Park ahead of a decision over whether to expel them from next season’s Europa League.
Mail Sport revealed that delegates from Palace had to attend a high-stakes meeting at UEFA headquarters earlier this month, as they seek to avoid falling foul of rules on multi-club ownership.
The FA Cup winners’ historic place is at risk because John Textor, whose company owns 43 per cent of the club, is the majority owner at French side Lyon.
Textor, Palace chairman Steve Parish and other execs told a panel that the American businessman was not in a position of influence and did not make decisions on behalf of the club, given his stake comes with just 25 per cent of voting rights. As such, they feel there is no breach of UEFA rules.
Following the meeting, Textor told this newspaper that he had no control and that he was seeking to sell Eagle Football Holdings’ stake in the club to ensure they could compete in the competition.
Crystal Palace’s Europa League hopes have been boosted amid concerns over breaches of multi-club ownership rules, which threaten to have them removed from the competition
The FA Cup winners’ spot is in doubt because John Textor, whose company owns 43 per cent of the club, also holds a majority stake in Lyon
Textor is open to selling for £175m, though a sale may be avoided if Palace can convince UEFA he lacks significant influence at the club
It is understood there are three interested parties – a consortium including NBA star Jimmy Butler, New York Jets owner and former US ambassador to the UK Woody Johnson and a third, previously unknown group, thought to be US-based, global and big players in the entertainment industry.
Textor is thought to be willing to sell for £175m, which values the club at less than a previous offer from himself for total control. However, if Palace officials can persuade UEFA that Textor does not carry a key influence then there may well be no need for a sale.
A decision is due later this month and those with knowledge of the situation believe UEFA are keen to find a solution. Should Palace prevail, there may well be a legal challenge from Nottingham Forest, who would be ‘promoted’ from the Europa Conference League to the Europa League if they were expelled.
