The 2024/25 Premier League campaign turned into a very good one for London based side Crystal Palace. Although manager Oliver Glasner could only lead the side to a 12th place finish in the top flight table, he did that whilst managing to book themselves a place at Wembley Stadium for the FA Cup Final clash with Manchester City.
In taking a 1-0 victory over Pep Guardiola’s side, Palace also earned themselves an entry into the Europa League competition for the coming season and for anyone who games with casino online ethereum and similar options, they would be dreaming of achieving that kind of success. However, things got a little bit choppy on that front owing to American investor John Textor’s involvement in the club.
Back in August 2021 he purchased a 40% stake in the Selhurst Park outfit said to be worth £87.5 million and he increased that holding to 45% in 2023, but he also has a stake in French Ligue 1 side Lyon, and under UEFA rules multi club ownership sides cannot compete in the same European competition, so given the relevant pecking order, Crystal Palace were threatened with expulsion as Textor had missed the deadline for club ownership affairs to be restructured.
This has ultimately led to the part owner quickly searching for sale options, and with a couple of offers known to be on the table, it is now being reported this week that he has made his decision and signed an agreement with New York Jets owner Woody Johnson who proposed to take on a 43% share in the club. It is said that the deal is worth up to £190 million, but it is subject to Premier League approval and Johnson will need to take and pass the owners’ and directors’ test first.
It is understood that Johnson feels he can transfer the money and complete the purchase with speed and it is believed that this was a crucial factor in why his offer was viewed as the most favourable given the current circumstances.
With a few hurdles still to be met should this deal now go through, it does not immediately remove the cloud that is hanging over Palace as they could still be denied entry into next season’s Europa League purely on the basis of Textor’s perceived involvement with them. UEFA are currently ascertaining and investigating whether or not Palace have committed a breach of their rules as they pertain to multi club ownership, but for the vast majority of neutrals they will feel for the Eagles faithful as being booted out would be a bitter punishment to suffer when you consider that they only missed the deadline in the first place because they were not going to qualify through league placings, and very few people had given them a chance of finally lifting the FA Cup.
It certainly feels like a harsh punishment when Manchester City’s own multi club status is well known, as are those of other clubs and Nottingham Forest owner Evangelos Marinakis was allowed to simply put his own shares into a blind trust to avoid punishment.
The club will be hoping that UEFA are generous here purely on the basis that steps have been taken to rectify the issue and that the deal is in progress but a formal decision is not expected until the end of the month.
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