Crystal Palace earned a place in the Europa League by winning the FA Cup, but the rules for several club owned by UEFA threaten their participation in the midst of a nervous waiting for a decision
Lyon has concluded a deal with UEFA that they hope will pave the way for them to play in the Europa League next season. The announcement can play bad news for Crystal Palace, whose own participation in Europe is in the air.
Palace defeated Manchester City in the FA Cup final to earn a place in the 2025/26 Europa League, but the rules with multiple club owned by UEFA have thrown a key. Eagle Football Holdings, who have a 43 percent interest in Palace, are also the owners of Lyon and UEFA that two clubs with the same owners participate in the same competition.
John Textor, from Eagle Football Holdings, announced on Monday that he had sold his interest to the American billionaire Woody Johnson for £ 190 million in an attempt to resolve the issue. But that deal must still be ratified by the Premier League because Johnson, who also owns the NFL franchise de New York Jets, has to pass the test of the owners and the directors.
The situation was further complicated on Tuesday by the news that Lyon was banned from Ligue 1 due to financial issues. The French giants finished sixth in Ligue 1, but saw their relegation confirmed by the National Directorate of Management Control (DNCG).
Nevertheless, they have now announced that they should be able to hold their place in the Europa League in the Europa League next season, despite playing in Ligue 2. “After validating the financial viability procedure, Olympique Lyonnais (OL) signed an agreement with UEFA's Club Financial Control Body,” was the statement.
“The club could therefore participate in the Europa League competition next season, subject to a favorable result during the appeal of the decision of the DNCG. Thanks to the UEFA representatives who supported it in this procedure.”
Eagle Football Holdings have reportedly set up debts of approximately £ 422 million to fulfill the supervisors. But Chiefs Textor and Michael Gerlinger are supposed to have given personal financial presentations to offer guarantees and reassuring to the financial control of UEFA's club.
According to reports in France, Textor reportedly promised an investment of € 35 million (£ 30 million) to stabilize the ship. But it is still to be seen whether the DNCG and UEFA have different interpretations of Lyon's finances.
Palace remains hopeful that Textor's decision to sell the club to Johnson will enable them to compete in the Europa League next season. Towards the end of the month, a UEFA decision is expected after club officials flew to Switzerland for high-stakes conversations.
A club statement earlier this week was: “Crystal Palace Football Club can confirm that Robert Wood Johnson 'Woody', an American businessman and co-owner of the New York Jets, has signed a legally binding contract to buy the importance of Eagle Football in the club.
“Although the completion is awaiting the Premier League and Women's Super League approval, we do not provide problems and look forward to Woody's welcome as a partner and director of the club. We would like to go on a record to thank John Textor for his contribution in the past four years and wish him every success.”