Crystal Palace boost hopes of playing in Europe as John Textor sells stake to avoid multi-club ownership issue
Textor's shares in Palace threatened to be an obstacle to their participation in the Europa League next season because the American is also a shareholder in French side Lyon, who are set to enter the same competition.
Under UEFA multi-club ownership rules, it looked as though Palace would miss out.
However, the PA news agency understands from sources close to Palace that Textor's 45 per cent stake in the London club has now been sold to New York Jets owner Woody Johnson.
Reports have placed the price between £160m and £190m.
The sale is subject to Premier League approval, but may now free Palace up to play in the Europa League.
The Eagles qualified thanks to their FA Cup final victory over Manchester City last month.
Textor, who through his Eagle Football Holdings group also owns a significant stake in Brazilian side Botafogo, initially invested in Palace in 2021.
Palace declined to comment. Eagle Football Holdings and UEFA have both been approached for comment.
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