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The Premier league side Crystal Palace who won the FA Cup this season and qualified for the Europa League are now left in shambles as the UEFA does not allow multiple clubs with the same owner to participate in the same tournament. The Eagles' hopes for competing at the European stage is halted at the moment as the club is still awaiting a decision on their fate from the board of UEFA. The decision was originally to be made on Monday, June 30, but has been delayed.
In order to help the case of Crystal Palace, the co-owner of the Eagles, John Textor, made a decision to sell his 43% shares of the club. Textor also co-owns the Ligue 1 side Lyon who have been demoted into the Ligue 2 by the DNCG due to the club’s financial instability, the club has reportedly informed that they will be appealing against this decision made by the French Football’s Financial watchdog.
Crystal Palace await verdict on Lyon’s demotion to Ligue 2: Reports
While Crystal Palace remain unsure about their place in Europa League, Lyon have made a statement that if they are found to have breached the contract of the UEFA and fail to win the appeal they will not participate in the Europa League and will withdraw themselves from the UEFA Club competitions in the upcoming season. This is the reason why the Club Financial Control Body (CFCB) decided to postpone the ownership case awaiting the verdict of Lyon demotion to Ligue 2.
Crystal Palace qualified for the Europa League by defeating Manchester City in the FA Cup final which saw the club win a major trophy after 119 years since the club’s existence. The club are now reportedly in search to find a new owner. According to sources, the co-owner of the club John Textor has reportedly sold his stakes in Crystal Palace to the American football team New York Jets owner Woody Johnson. Further details about the multi-club ownership case will be brought into light soon.
