John Textor’s Crystal Palace exit confirmed by Companies House | OneFootball

Lyon owner John Textor’s departure from Crystal Palace has been confirmed officially on the British Government website, Companies House. The American businessman has sold his stake in the Premier League club to fellow American Woody Johnson. This could indicate that the sale has gained Premier League approval.

Textor’s departure is thought to benefit Palace’s chances of being allowed to play in the UEFA Europa League next season. The Eagles have qualified for continental football after defeating Manchester City in the FA Cup final. However, after failing to make necessary arrangements to prove they have no affiliation with OL, their potential spot in UEFA’s secondary competition is in jeopardy.

A hearing was set to take place to determine whether Crystal Palace would be able to participate in the competition. Nevertheless, this has been postponed until Lyon’s fate is confirmed. OL are currently undergoing appeal proceedings after they were relegated to Ligue 2 by the DNCG due to poor financial mismanagement. Textor has stepped down from his role as OL president following the decision.

GFFN | Liam Wraith