There has long been friction between the owners of Crystal Palace. John Textor has argued that chairman and co-owner Steve Parish has not allowed power equal to his shareholding. The American investor who was in the picture as a possible new owner in Everton had the choice between buying control or selling.
Until a few days ago, John Textor owned Botafogo, Crystal Palace, Lyon and RWDM Brussels.
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Premier League club is relegated to the Europa Conference League due to ownership – the club calls it “one of the greatest injustices in European football”.
Crystal Palace have been banned from the Europa League by UEFA and will instead have to play in the Europa Conference League. The decision comes after the club violated UEFA’s rules on multi-club ownership.
Ownership issue led to penalty
According to UEFA’s rules, clubs with the same owners cannot participate in the same tournament. Businessman John Textor, who until recently was the majority owner of Lyon, also owned a significant stake (43%) in Crystal Palace through the company Eagle Football Holdings.
Although Textor recently sold its shares in Palace for almost 230 million euros, it was too late. UEFA confirms in a press release that as of March 1, the clubs violated the rules on multi-club ownership.
Palace’s defense rejected
Crystal Palace claimed that Textor had no real influence at the club, but this argument was rejected by UEFA, according to the BBC.
Since Lyon finished higher in the table in Ligue 1 than Palace did in the Premier League, it is the English club that will have to make amends with relegation to the Europa Conference League.
“One of the biggest injustices”
The club’s chairman Steve Parish raged against the decision, calling it “probably one of the greatest injustices in the history of European football”, according to Sky Sports.
Nottingham Forest expected to take over
Crystal Palace, who qualified for the Europa League through winning the FA Cup (despite finishing 12th in the Premier League), now see their place likely to go to Nottingham Forest, who finished 7th.
Club Next Step
Crystal Palace can appeal the case to the CAS (Court of Arbitration for Sport), and according to Sky Sports, the club is ready for a trial.
This is the latest development in a turbulent period for Lyon, who recently avoided forced relegation to Ligue 2 after financial problems – but are now making the consequences of their ownership felt.
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