Crystal Palace eyes sale to pave European path

Crystal Palace shareholder John Textor has reportedly received an offer to sell his stake in the club, in a move that could potentially allow the Eagles to compete in the Europa League next season.

Woody Johnson, the owner of NFL franchise the New York Jets and a Donald Trump ally, has made the offer for Textor’s shareholding, according to BBC Sport.

Crystal Palace have been attempting to persuade UEFA that they should be permitted to participate in the competition. A decision is anticipated towards the end of the month, with UEFA set to inform Palace whether they are in breach of its multi-club ownership rules by 30th June.

UEFA regulations prohibit individuals from controlling more than one club in the same competition to prevent conflicts of interest. Eagle Football, the multi-club group owned by Textor which holds a minority shareholding in Palace, also possesses a majority stake in French side Lyon, who have also qualified for next season’s competition.

Palace have argued that Textor, who has repeatedly sought to sell his stake in the club, does not hold decisive control. Eagle Football’s stake in Palace stands at 43%. Palace executives travelled to Switzerland last week for a meeting with UEFA to present their case, insisting there is no sharing of information or staff or facilities with the French side and arguing Textor has just 25% of voting rights.

If Textor proceeds with selling his Eagle Football shares, it could pave the way for Palace’s participation. Nottingham Forest have written a letter to UEFA asking for clarification over whether Palace will be involved.

Crystal Palace have been considering three offers for John Textor’s stake, including Johnson’s. A quick sale has been mooted as a way to rescue the Premier League side from the threat of expulsion from the Europa League.

Telegraph Sport reports that Johnson, the New York Jets owner, tabled a 43% purchase proposal, which was marginally less in overall value than two others being discussed.

Raine Group, the New York broker which secured sales for Chelsea and Manchester United, had been in discussion with parties on behalf of Textor since last year. However, the American has been conscious of the club’s need to now secure a quick transaction to guarantee European competition next season. A rapid sale for as little as £170m has been mooted for Eagle Football Holdings’ 43% stake.

Other suitors for Palace, meanwhile, have been believed to include NBA star Jimmy Butler, part of a consortium of sport and entertainment executives that is expected to make an offer.

Another international consortium advised by the veteran football financier Keith Harris also previously expressed interest. Mr Harris’s group would probably execute its deal through the recently incorporated Sportbank vehicle. The Sportsbank consortium – worth upwards of £200m – has been said to be made up of a collection of investors from North America, Europe and the Gulf.

Textor acquired his holding in Palace in 2021 for about £90m. His multi-club network Eagle Football also includes French club Lyon, Rio-based Botafogo and RWD Molenbeek in Belgium. His priority has been to pursue a club which can accept players across the group. Crystal Palace’s overall value has been said to be about £500m