Crystal Palace to learn Europa League fate on Friday: Details
What's the story
UEFA executives will meet on Friday to determine whether Crystal Palace can participate in next season's Europa League. The decision comes after the Eagles qualified for Europe for the first time in their history by winning the FA Cup. However, UEFA is investigating a possible breach of its multi-club ownership rules, which could jeopardize Palace's spot in the tournament.
Ownership change
Woody Johnson's takeover of Crystal Palace
On Monday, it was announced that New York Jets owner Woody Johnson has signed a "legally binding contract" to buy John Textor's 43% stake in Crystal Palace. The deal is believed to be worth close to £190 million. However, Palace's place in Europe is under threat due to Textor's involvement with the club and his stake in French club Lyon, which also qualified for the Europa League.
Influence questioned
Textor's situation with Lyon and UEFA's decision deadline
Despite his shareholding at Crystal Palace, the club insists that Textor has no significant control over its operations. This week, Lyon suffered relegation into Ligue 2, and their poor financial state could potentially bar them from European competition altogether. The outcome of the UEFA hearing on Palace's potential rule breach is expected to be announced by Friday evening.
Stake
How Eagle Football is linked to Crystal Palace and Lyon
Earlier, the BBC reported that through Eagle Football, Textor owned around 45% of Crystal Palace and 90% of Lyon. He was appointed a director at Palace after his initial £90 million investment in 2021. In January 2022, he invested in Brazilian club Botafogo and Belgian side RWD Molenbeek through Eagle Football, which still hold controlling stakes in both clubs. Textor became the owner of Lyon in June 2022.
Do you know?
Palace made this record by winning the FA Cup
By beating Man City, Palace won their first ever major trophy. As per Opta, they became the first English club to win their first major title since Wigan Athletic in the 2012-13 FA Cup, who also beat Manchester City in the final that year.