John Textor is attempting to sell his 43% stake in Crystal Palace so the club avoids being denied European competition next season. Palace’s participation in the Europa League has been thrown into doubt by Uefa multi-club rules that bar sides with the same owner from competing in the same continental event. Textor is Palace’s largest shareholder and the owner of Lyon, who are also due to take part in the tournament.
Officials from Palace and Uefa met in Nyon on Tuesday and a decision is expected in the next 10 days. Despite the size of Textor’s stake, he has only 25% of voting rights at Palace and argues this means no rules have been breached. He has been attempting to complete a full takeover but that has stalled and he may sell so Palace are allowed to fulfil what is, if a dalliance with the defunct Intertoto Cup in 1998 is discounted, their European debut.
