John Textor is trying to sell his majority stake in Crystal Palace as the club seek to avoid being booted out of European competition before a ball has been kicked.
Mail Sport spoke exclusively to the Eagles’ 43 per cent shareholder, whose ownership of Lyon is putting the first-time FA Cup winners’ European adventure in serious risk of collapsing before it has even begun.
Mail Sport revealed on Monday that a group of Palace officials were jetting to Switzerland for crunch talks with UEFA.
And, speaking at a hearing on the shores of Lake Geneva that lasted for around two hours, the US businessman declared that he had effectively put the club up for grabs to avoid what would be a potential disaster.
Textor had announced his intention to sell previously as he eyed a move for Everton. However, since then he had upped attempts to increase his stake in Palace amid frustration that his current share only entitles him to 25 per cent of the voting rights, along with three others.
UEFA rules on multi-club ownership have put Palace’s maiden European voyage under serious threat.
John Textor is trying to sell his majority stake in Crystal Palace as the Eagles desperately attempt to avoid being booted out of European competition before a ball has even been kicked
Palace won the FA Cup, which looked to have secured them a place in the Europa League
However, UEFA ownership rules may mean they cannot compete. US businessman Textor is majority shareholder at Lyon while Brondby are owned by Palace co-owner David Blitzer
Textor’s French side, Lyon, have also qualified for the Europa League and would take the slot as they finished sixth to Palace’s 12.
To make matters worse, Danish outfit Brondby, owned by Palace shareholder David Blitzer, may be in line to take the spot in the Europa Conference League, should Palace be told they cannot play in the Europa League and effectively take a ‘relegation’.
Brondby finished third in Denmark, but one of the matters Mail Sport understands is being explored – which could give Palace a reprieve of sorts – is whether the south London club’s qualification for a higher-ranked competition would put them above the Danes.
Even if that was the case, such a situation would no doubt not go down well in Brondby.
Should the worst case scenario transpire, bitter rivals Brighton would enter the Conference League and Nottingham Forest would be elevated to the Europa League.
When asked how the hearing had gone, Textor responded: ‘Look, all of the UK knows that I don’t have decisive influence over Palace. It was a good meeting. They listened and we’ll see what happens. I wouldn’t be trying to sell (this stake) if I did.’
When pressed further, Textor added: ‘We are trying to help separate it and sell. We wanted to buy but it’s become clear that isn’t going to happen and so we’re trying to help Palace and the situation with UEFA. That’s about all I can say.’
Textor’s openness was in direct contrast with the haughty demeanour of Palace co-owner and chairman Steve Parish. There is rumoured to be friction between the two and Parish failed to respond to questions from Mail Sport. Instead, he made his way to a waiting Mercedes 4×4 and sat wordlessly in the back.
Textor’s Lyon qualified for the Europa League which has caused this problem for Palace
If Palace were kicked out of Europe, it would be a cruel blow for Oliver Glasner’s thriving side
Mail Sport revealed Palace officials jetted to Switzerland for crunch talks with UEFA on Tuesday
It is understood that UEFA lawyers will now consider Palace’s case before making a decision in the near future.
The draw for the qualifying stages of the Europa Conference takes place on June 17 and a decision is likely to be forthcoming ahead of that date.
Ahead of today’s showdown, Palace were thought to be confident that the situation would be resolved and they will now be hoping that a personal appearance from Textor will have provided the necessary assurances to the governing body.
The situation is unprecedented, in that three clubs are involved. Others in the Premier League have had to make changes to enable their other sides to allow their English clubs to participate in European competition.
Both Manchester clubs have made boardroom changes at Nice and Girona in the shape of so-called ‘blind trusts’, while Nottingham Forest owner Evangelos Marinakis did similar when it appeared as though they and his Greek outfit Olympiakos may both make the Champions League.
Palace secured their historic spot following a momentous win at Wembley over Manchester City that few will have seen coming.
