‘Premier League approval update after Crystal Palace sale agreement signed’
John Textor has agreed to sell his shares in Crystal Palace with the club’s place in the Europa League under threat but the sale still needs to be approved by the Premier League.
The Eagles’ triumph over Man City in the FA Cup final secured their appearance in a major European competition for the first time.
Having seen a dismal Tottenham side claim the Europa League crown last season, the South London side will undoubtedly fancy their chances in next season’s edition.
But Textor’s majority ownership of both Palace and Lyon is proving to be an issue, due to UEFA‘s rules on multi-club ownership.
Both qualified for the Europa League, and despite the American businessman having little to no input on the day-to-day running of the club, his shareholding still violates the European governing body’s rules.
Ultimately, Textor has decided to sell his shares in Palace to New York Jets owner Woody Johnson to strengthen the club’s case.
However, according to The Times, the Eagles will still need approval from the Premier League before any sale can be concluded, and updates towards that objective have emerged.
Crystal Palace owner John Textor unlikely to face any issues with sale
According to the report, sources have confirmed that a “definitive agreement has been signed with Johnson”, and will need approval from the Premier League, but that is considered unlikely to be an issue.
UEFA is due to rule on whether Palace can compete in the Europa League next season near the end of June, and although a sale does not guarantee anything, Sky Sports’ chief reporter Kaveh Solhekol shared on X that “UEFA will confirm in days that Palace can play in Europa League.”
The Guardian have also reported that the league is “expected to act swiftly to aid their cause”, and that a sale is “likely to be ratified” within four weeks.
UEFA implementation of rules needs addressing due to Crystal Palace debacle
Football Insider Verdict
As is often the case, UEFA’s rules aren’t necessarily the biggest issue; it’s their implementation.
It makes sense to stop clubs owned by the same person or group from competing in the same competition.
Issues arise, however, when it becomes clear that owners are following the rules on paper, but not in practice.
Both Red Bull clubs have competed in the same competition on numerous occasions, even being drawn in the same Europa League group back in the 2018/19 season.
Evangelos Marinakis stormed the pitch to confront Nuno Espirito Santo after Nottingham Forest’s 2-2 draw with Leicester on 11 May.
The Greek businessman had relinquished control of the club 12 days earlier [The Guardian], owing to UEFA’s multi-club ownership rules, making him… what? A fan who invaded the pitch?
Meanwhile, Textor had been looking to sell Palace earlier in the season, due to his frustrations at being unable to become involved in the running of the club.
If UEFA are seriously concerned about the potential match-fixing or dodgy deals that can arise from multi-club ownership, both the rules they have created and their implementation need addressing.