Crystal Palace's European prospects improve after major shareholder sells stake
CRYSTAL PALACE'S HOPES of playing in Europe next season appear to have been boosted after shareholder John Textor sold his stake in the club.
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.
It looked as though Palace would miss out due to the same Uefa multi-club ownership rules that cost Drogheda United their place in the Europa Conference League.
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However, it's understood that Textor's 45% stake in the London club has now been sold to New York Jets owner Woody Johnson.
Reports have placed the price between €187 million and €222m (£160-£190m).
The sale is subject to Premier League approval, but may now free Palace up to play in the Europa League.
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.
Palace declined to comment. Eagle Football Holdings and Uefa have both been approached for comment.
It's understood a decision regarding Palace's participation is expected from Uefa before the end of June.
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