Crystal Palace's hopes of playing in next season's Europa League rest on the outcome of Lyon's appeal against their relegation from Ligue 1, a decision that could also shape the future of American investor John Textor. Textor is selling his 43% stake in the FA Cup winners to New York Jets owner Woody Johnson, with the Premier League's owners' and directors' test expected to be passed in the coming days.
The appeal will be heard this week by the DNCG, French football's financial watchdog. Lyon, also controlled by Textor's Eagle Football Holdings, have already accepted that failure would see them relinquish their Europa League place, opening the door for Palace. Textor has resigned from his leadership roles at Lyon in an attempt to improve the appeal's chances, with Michael Gerlinger appointed chief executive and Michele Kang as chair and president. Lyon were also fined €12.5m by Uefa for financial sustainability breaches, with reports suggesting they must inject €70m to play in Ligue 1.
If the appeal fails, Textor is confident Lyon will be cleared, even if it means going to court. However, with Ares Management, which provided a €425m loan for the Lyon purchase, pressing for repayment, time is short. Eagle Football was listed on a US stock exchange last month, and Textor is believed to want to begin selling shares in September. He has spoken of focusing on Botafogo, Daring Brussels, and a new club in England.
Potential targets include Sheffield Wednesday, who are banned from spending on transfers until January 2027, and Watford, with Textor having held talks with owner Gino Pozzo. His close relationship with Nottingham Forest owner Evangelos Marinakis has seen players move from Botafogo and Lyon to the City Ground; Igor Jesus's signing was announced on Saturday, and Jair Cunha could follow. Botafogo's elimination from the Club World Cup cost coach Renato Paiva his job, a decision he described as a shock given the team's recent success under his predecessor.
Textor's frustration at his lack of influence at Palace led to a breakdown in relations with chairman Steve Parish. Despite holding the largest stake, he was unable to persuade Parish and fellow American co-owners Josh Harris and David Blitzer to fully integrate Palace into Eagle Football's multi-club network. The sale of his shares to Johnson, once ratified, would end his involvement at Selhurst Park.
