Palace co-owner John Textor would sell shares for Europa League chance
Crystal Palace co-owner John Textor is willing to sell his shares in the club in order to ensure the Eagles can enter next season's Europa League, according to reports.
The American, whose Eagle Football Group owns 43 per cent of Palace, has imperilled the club's chance of a first-ever European campaign owing to his involvement with Ligue 1 side Lyon, but is ready to offload his stake to his fellow co-owners in order to bring the saga to an end.
UEFA does not allow clubs with the same ownership to compete in the same European competitions in a season.
As well as his stake in Palace, the 59-year-old has a controlling stake in the French club, also via Eagle Football.
However it is also reported that the European governing body does not consider Textor's influence at Selhurst Park to be decisive and is leaning towards allowing the club into the Europa League regardless.
The PA news agency understands no formal decision is likely on Palace's fate until the end of June.
Textor has previously spoken of his frustration at how little influence his stake entitles him to, over football matters.
Victory for Oliver Glasner's side over Manchester City in last month's FA Cup final gave them their first major trophy and with it a first crack at Europe.
However, Nottingham Forest have since written to UEFA to challenge Palace's Europa League spot and in the hope of taking their place.
Forest's owner Evangelos Marinakis, who also owns Greek side Olympiacos, placed his shares in the club in a blind trust before the governing body's March 1 deadline, anticipating Nuno Espirito Santo's side's European qualification.
At present Forest, who finished seventh in last season's Premier League, are set to enter the Conference League but would take Palace's Europa League place, should they be deemed ineligible.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Times
14 minutes ago
- Times
KPMG fined over partner error in Carr's audit
KPMG has been fined just shy of £700,000 for not realising that a senior partner at another firm had been working on the audit of a subsidiary of Carr's, the agriculture and engineering company, for a year too long. The Financial Reporting Council determined that KPMG, as Carr's main auditor, was wrong to rely on the work of another audit firm responsible for signing off the 2021 accounts of the subsidiary because the lead partner had held that role for six years, one more than is permitted. The FRC did not name the other firm, but Companies House filings show Mitchell Charlesworth, a small accountancy group based in the northwest of England, audited the 2021 accounts of Carr's Billington Agriculture (Operations), a manufacturer and supplier of animal feed. Mitchell Charlesworth also provided tax and accountancy services to Carrs Billington Agriculture, which was another reason why KPMG should not have signed off on the group accounts. The regulator, in a 35-page report, said that KPMG had failed to 'ensure compliance with applicable independence requirements'. Lead audit partners, also known as audit engagement partners, are required to rotate every five years to prevent them from becoming too chummy with the management. Audit firms are also limited on how much non-audit work they can do for clients for fear that it might influence their decision-making. Carr's traces its roots to 1831 and a flour mill opened by Jonathan Carr to supply his Table Water biscuit factory. In 1908, the flour-milling assets were spun off into what is now Carr's Group. Carr's 2022 accounts were delayed for several months because Grant Thornton, which took over from KPMG, felt that, owing to 'independence reasons', it could not rely on the work of the auditor of one of Carr's subsidiaries. Jamie Symington, deputy executive counsel at the FRC, said KPMG's breaches were 'serious', even though the quality of KPMG's audit work was 'not brought into question'. KPMG was initially fined £1.25 million, but this was cut to £690,625 because of its 'exceptional cooperation during the investigation'. It has also paid the FRC's investigation costs of £219,755. Nick Plumb, who was KPMG's lead partner on the Carr's audits, was fined £70,000, which was cut to £38,675. Plumb, 59, retired from the KPMG partnership in 2022. The fine money goes to the Department for Business and Trade. Symington said KPMG's failings were 'basic and fundamental', adding: 'It is of fundamental importance that when seeking to rely on the work of a component auditor, the group audit firm can be satisfied that its independence is not compromised as a result of conditions that would compromise the independence of another firm on whose work it relies.' 'We accept that we did not meet the required standards in this instance,' Cath Burnet, head of audit at KPMG UK, said.
Daily Mail
21 minutes ago
- Daily Mail
Warhammer maker Games Workshop to reward staff with £20MILLION payout
Games Workshop is handing its employees £20million following another bumper year for the beloved tabletop games maker. The Warhammer creator, which has struck a deal to have its creations star in potential TV and film blockbusters for Amazon, said the cash payments would be given on 'an equal basis' to every staff member. Games Workshop's shares have soared in recent years and it joined the UK's leading FTSE 100 stock market index for the first time last December. The £20million payout represents an increase on the £18million awarded last year and £11million the year before that. It comes as Games Workshop forecast sales to soar to at least £560million for the year ending 1 June, up from £494.7million in the previous 12 months. British actor and Superman star Henry Cavill, a self-declared lifelong fan of the figures, will star in and produce a Warhammer 40,000 series with Amazon Prime and Games Workshop. Last December, Cavill posted on Instagram: 'To celebrate some Warhammer news, I decided to make a pilgrimage to the very first place I bought Warhammer models over 30 years Little Shop, on my home island of Jersey! 'My incredible team and I, alongside the brilliant minds at Games Workshop, have been working away in concept rooms, breaking down approaches to the enormity and magnificence of the Warhammer world. 'Together, we've been sifting through the plethora of incredible characters and poring over old tomes and texts. 'Our combined efforts have led us to a fantastic place to start our Universe, which has been agreed upon by those up on high at both Amazon and Games Workshop. That starting place shall, for now, remain a secret.' Games Workshop said today that it expects to achieve record licensing sales of about £50million, although the company does not envision repeating that figure in the next financial year. Alongside this, the business believes its core operating profits and pre-tax profits will total no less than £210million and £255million, respectively. Two months ago, Games Workshop upgraded its earnings forecast thanks to strong trading across licensing and its core operations. This followed the firm's best-ever first-half result, with sales buoyed by record retail sales in the UK, North America and Continental Europe. Revenues were further boosted by the release of video game Warhammer 40,000: Space Marine 2, which sold two million copies on the opening day of its launch and five million by the end of November. During the half-year period, Games Workshop agreed 'creative guidelines' with Amazon to adapt Warhammer 40,000 into films and television shows. In addition, the company entered the blue-chip FTSE 100 after enjoying nearly a decade of consistent growth under its chief executive, Kevin Rountree. During his tenure, Games Workshop has improved its relationship with fans and introduced games with more simplified rules, including Blood Bowl, a parody of American football. Its revenues benefited considerably from the Covid-19 pandemic, when consumers sought new indoor hobbies to occupy their time. Although lockdown curbs eventually ended, the firm's trade has continued expanding, and its market value now stands at almost £5billion. Russ Mould, investment director at AJ Bell, said: 'Games Workshop has a rock-solid core business, underpinned by an army of fans emerged in its fantasy worlds who collect miniature figures and play its board games. 'This success has enabled the company to build a rich library of intellectual property that is now the platform for additional revenue generation. 'Licencing the rights to certain brands and characters is easy money, but Games Workshop is fiercely protective of its assets and won't let anyone come along and milk them.' Despite the optimistic forecasts, Games Workshop shares were 4.5 per cent lower at 15,150p on Friday morning, making them the Footsie's biggest faller.
Daily Mail
21 minutes ago
- Daily Mail
Jude Bellingham's team-mates reveal what it's REALLY like playing with England star after Thomas Tuchel described his behaviour as 'repulsive'
Jude Bellingham has been cast into the fire once again after England boss Thomas Tuchel labelled the midfielder's on-field demeanour as 'repulsive'. Bellingham was unable to contain his emotions after England 's 3-1 defeat by Senegal on Tuesday, chasing down the fourth official before taking a swipe at a water cooler. Less than 24 hours on from England's 3-1 defeat, it was put to Tuchel that England could be better off without Bellingham in the starting line-up. 'I struggle to see that,' the German told talkSPORT. 'I think he brings an edge, which we welcome and which is needed if we want to achieve big things'. After initially defending the Real Madrid 's stars action, Tuchel did go on to suggest that Bellingham's fire needs to 'channeled' and admitted it causes 'mixed emotions'. He explained: '(But) the edge needs to be chanelled toward the opponent, towards our goal and not to intimidate team-mates, or to be over aggressive to team-mates or referees. 'He has the fire. I don't want to dim this down. He should play with this kind of fire, that's his strength. 'But I see that it can create mixed emotions. I see this with my parents, with my mum, that she sometimes cannot see the nice and well-educated and well-behaved guy that I see. If he smiles, he wins everyone. 'But sometimes you see the rage and the fire, and it comes out in a way that can be a bit repulsive, for example, for my mother, when she sits in front of the TV'. The outburst against Senegal was not the first time that fans have seen the frustrated side to Bellingham - both for Real Madrid and for the Three Lions. In recent years, there have been a number of outbursts from the midfielder but, as revealed by former team-mate Kade Craig, Bellingham has always been passionate on the pitch. The ex-Birmingham City academy player insisted that, while Bellingham might 'get into' it with others and express his frustrations often, it's all part of his 'self-belief'. Speaking to The Athletic, Craig revealed: 'We got on but at the same time, it was a love-hate relationship. Everyone else looked up to him, but because I hadn't been there from an early age, he was someone I didn't really know. 'We would get into each other during games but then we started to go on tours together as we got older, and stayed in the same room. 'Yes, he knew he was good and every top player has to have that self-confidence, but he is a humble lad too. That is probably why he has got so far: that self-belief'. So, that's two for two. Both Craig and Tuchel insist that, while Bellingham's tantrums can be startling to some, it's an energy and attitude that breeds success on the pitch. In July last year, reports emerged claiming that Bellingham had modelled his character on Michael Jordan, one of basketball's greatest-ever players. According to the Independent, through England's Euro 2024 campaign, Bellingham would cut a figure 'more akin to an American sport star'. The report said he was vocal about demanding the best of himself and his teammates – and found it hard to hide his frustrations if either didn't meet the grade. Michael Jordan famously was ruthless on and off the court, and was known for his unbreakable mentality and willingness to share his mind, regardless of who was in the room. Jordan would lead the Chicago Bulls to six championships between 1991 and 1998 – and a legacy that would recognise him as one of the greatest sport stars of all time. Bellingham has, similarly, attempted to elevate his team-mates with his passionate outbursts but, at times, it has not paid off. At the Euros last summer, Bellingham's attitude was on full show during England's stalemate with Slovenia, when an attack fizzled out and he failed to receive the ball. Expert lip reader Jeremy Freeman told Mail Sport that Bellingham yelled: 'Hey, genuinely put in a f***ing pass' and then: 'It's a bit late to control, f***ing pass.' It appeared to be in the wake of a corner following a Harry Kane shot from range when Bellingham was in the box, though it was unclear whether his ire was targeted at the striker or Kieran Trippier for his delivery from the set-piece. Then, after the ill-fated final against Spain, footage emerged of him appearing to shout at then-manager Gareth Southgate. ESPN's Mark Ogden claimed that Bellingham 'lost it' and got 'frustrated' at the gaffer before lacking kicking a drinks cooler to vent his frustration. Meanwhile, he was handed a red card after Real Madrid's Copa del Rey final defeat by Barcelona in April, where he 'approached the referee aggressively' and needed 'to be restrained by team-mates'. In February he launched a foul-mouthed tirade against a linesman during a tense 1-1 draw with capital city rivals Atletico. The midfielder was dumbfounded by an early decision from the assistant referee and vented his frustration next to one of the pitchside microphones at the Bernabeu. 'F*** you, man!' he was heard shouting. 'F*** off!' In September, he was heard calling a referee a 'piece of s***' after he was booked during a 4-1 victory over Espanyol. Meanwhile, back in 2022, reports in Germany claimed that Bellingham was at the centre of a dressing room rift at Borussia Dortmund. According to Bild, the midfielder's 'derogatory body language' on the pitch had been annoying his team-mates. But for now, Tuchel has opened a wound in a very public manner. It remains to be seen what impact this has on Bellingham, and a struggling England team, as the World Cup draws closer.
