Crystal Palace have officially announced Woody Johnson arrival, finalizing his purchase of John Textor’s 45% stake. The Premier League ratified the £190 million deal, ending Textor’s involvement with the club, whose ownership of Lyon has caused considerable controversy. The club hopes the ownership change will influence their appeal against a UEFA decision.
Crystal Palace are appealing UEFA’s decision to demote them to the Conference League. The decision was based on John Textor’s ownership of Lyon, who also qualified for the Europa League. Now, with Johnson’s takeover complete, the club believes their appeal to the Court of Arbitration for Sport (CAS) has gained strength.
Crystal Palace hopeful after Woody Johnson takeover
Sky Sports reporter Kaveh Solhekol shared the club’s perspective on X. He stated that Crystal Palace believe the sale of Textor’s shares to Woody Johnson will aid their CAS appeal. The argument is that Textor’s departure eliminates any conflict of interest regarding participation in the Europa League.
The club acknowledges that Textor missed the March 1st deadline to place his shares in a blind trust. However, they emphasize that he expressed a desire to sell, making a trust impractical. As a result, Crystal Palace are optimistic about their chances of overturning UEFA’s ruling.
Premier League rivals eye Europa League spot
Nottingham Forest stand to benefit from Crystal Palace’s potential demotion. They are currently in line to take the Eagles’ place in the Europa League. However, Crystal Palace argues that they are no longer connected to Lyon. Moreover, Textor never held a decisive vote at Selhurst Park, as Steve Parish has the final say on decision-making.
As a result, the situation remains tense, with both clubs anxiously awaiting CAS’s decision. The outcome will significantly impact their European campaigns and financial prospects.
Financial implications of UEFA’s decision
If CAS upholds UEFA’s decision, Crystal Palace face a substantial financial setback. Football finance expert Kieran Maguire estimates the club could lose around £30 million in revenue. This loss stems from playing in the Conference League rather than the more lucrative Europa League.
Consequently, Parish has compelling reasons to hope CAS will reinstate Crystal Palace into the Europa League. The financial boost would allow the club to further invest in the squad. They are reportedly interested in signing a 21yo midfielder.
The stakes are high for Crystal Palace as they await CAS’s verdict. Reinstatement into the Europa League would not only provide a competitive advantage but also secure crucial financial benefits, whereas failure would be a huge blow. The next few weeks will be critical for the club’s immediate future.
