Exclusive: Crystal Palace to be banned from Europe by UEFA – ‘Deadline’s passed’
Crystal Palace will most likely be denied entry to the Europa League next season due to UEFA’s rules on multi-club ownership.
That is according to football finance expert Dan Plumley, as he exclusively told Football Insider that the deadline had passed for John Textor‘s shares to be put in a blind trust, putting UEFA in a difficult position.
The American businessman owns shares in Belgian club RWD Molenbeek, Brazilian side Botafogo, and French team Lyon.
Thanks to the Ligue 1 club finishing sixth, they achieved qualification to the Europa League.
But as Crystal Palace’s 1-0 FA Cup final win also granted them entry to Europe’s second-tier club competition, Textor’s shareholding in both clubs violates UEFA’s multi-club ownership rules [UEFA].
As Lyon finished higher in their table, they take precedence on entry into European competition, and with another of the Eagles’ shareholders David Blitzer owning Brondby, who qualified for the Conference League, there is no way the Premier League club can simply drop down a competition.
Smelling blood in the water, Nottingham Forest wrote to UEFA regarding their concerns over Palace‘s multi-club ownership violation.
The Tricky Trees are the main candidates to take the Eagles’ place if they are removed from the Europa League, after qualifying for the Conference League by finishing seventh in the Premier League.
Crystal Palace likely to be removed from Europa League by UEFA
UEFA moved the deadline for club owners to put their shares in a blind trust from June to March this year.
With Palace seemingly out of contention for European qualification, Textor chose not to put his shares in a blind trust.
The decision seems to have come back to haunt them, as thanks to being the largest shareholder at both Lyon and the Premier League club, they are “most likely” going to be denied entry to European competition, finance expert Plumley exclusively told Football Insider.
He said: “I think, unfortunately, reading everything I’ve read so far, I think that is the most likely outcome [Palace being denied entry into European competition].
“And again, caveat that with what we’ve seen in this example, he [Textor] could still sell those shares and they could change their decision based on that, but the deadline has passed ultimately for the relinquishment of that ownership and putting it into blind trust, which a lot of clubs have to do.
“UEFA are in a tricky position because the deadline’s passed, so they’ve got to stick to that.”
NBA star Jimmy Butler expected to bid for Crystal Palace
With the chaos surrounding Palace reaching fever pitch, now may be the perfect time to invest in a Premier League club at a discounted rate.
BBC Sport revealed that, according to those close to Textor, he is willing to sell his shares in the club if it means avoiding removal from European competition.
And according to The Athletic on 11 June, “A consortium of sport and entertainment executives, which includes the NBA star Jimmy Butler, is expected to make an offer in excess of $200million (£147.4m) to purchase Eagle Football’s 43 per cent stake in Premier League soccer club Crystal Palace”.
The American businessman has flip-flopped between wanting to sell his shares and a desire to assume majority control of the club.
The group is led by Morgan Stanley sports executive Bejan Esmaili and former Roc Nation attorney Wajid Mir, who were both part of another bid for Textor’s holding company Eagle Football back in January.
The Telegraph report that New York Jets owner Woody Johnson has now come forward with an offer for Textor’s Palace shares.