Palace investor sells shares as Albion await developments for UEFA place
UEFA will announce a decision on Crystal Palace this month (Image: PA)
Crystal Palace's hopes of playing in Europe next season appear to have been boosted - as Albion await developments.
Shareholder John Textor has sold his stake in the club, which is being viewed as helpful to the FA Cup winners taking their place in the Europa League.
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Textor's shares in Palace threatened to be an obstacle to their participation in the Europa League next season because the American is also a shareholder in French side Lyon, who are set to enter the same competition.
Were they to miss out, there has been speculation that Albion could step into the Conference League with Nottingham Forest moving into the Europa League.
Under UEFA multi-club ownership rules, there were suggestions Palace would miss out.
However, the PA news agency understands from sources close to Palace that Textor's 45 per cent stake in the London club has now been sold to New York Jets owner Woody Johnson.
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Reports have placed the price between £160m and £190m.
The sale is subject to Premier League approval, but may now free Palace up to play in the Europa League.
It is unclear how key the sale will be given Palace have maintained Textor does not have a decision-making influence at the club.
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The Eagles qualified thanks to their FA Cup final victory over Manchester City last month.
Textor, who through his Eagle Football Holdings group also owns a significant stake in Brazilian side Botafogo, initially invested in Palace in 2021.
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Palace declined to comment. Eagle Football Holdings and UEFA have both been approached for comment.
PA understands a decision regarding Palace's participation is expected from UEFA before the end of June.
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