UEFA Demotes Crystal Palace Due to Ownership Conflict
Crystal Palace has been demoted to the third-tier Conference League by UEFA due to ownership conflicts related to American businessman John Textor, who holds stakes in multiple clubs. Lyon, owned outright by Textor, will enter the Europa League instead. The decision could be challenged at the Court of Arbitration for Sport.
- Country:
- Switzerland
In a surprising decision, UEFA has demoted Crystal Palace to the third-tier Conference League due to ownership conflicts involving American businessman John Textor. Textor holds a minority stake in Palace and owns French club Lyon outright, conflicting with UEFA's multi-club ownership rules.
Lyon has been accepted into the second-tier Europa League, a decision that comes as the French club has been financially struggling, narrowly avoiding demotion to the French second division this week.
Nottingham Forest is set to benefit from both clubs' demotions, as its elevation from the Conference League to the Europa League is potentially worth an additional 20 million euros in UEFA prize money.
(With inputs from agencies.)
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