Crystal Palace takes UEFA to court over demotion to third-tier
Crystal Palace has taken its fight with UEFA to the Court of Arbitration for Sport by lodging an appeal against its demotion to the third-tier Conference League next season.
Article content
The Switzerland-based CAS confirmed Tuesday that the Premier League club had filed an appeal against European soccer's governing body. An expedited process will produce a decision no later than Aug. 11, the court said.
Article content
Article content
Palace secured qualification to the second-tier Europa League by winning the FA Cup last season — its first major trophy in 120 years of existence. But UEFA demoted Palace after finding it in breach of multi-club ownership regulations because of its ties to French club Lyon through American businessman John Textor.
Article content
Article content
Textor had a 43% stake in Palace and owns Lyon outright. UEFA rules state that clubs can be barred from its competitions if owners have 'decisive influence' over two teams that have qualified.
Article content
While Textor only had limited decision-making at Palace, UEFA deemed his involvement with Lyon — which qualified for the Europa League — breached multi-club ownership rules. Textor has since agreed to sell his Palace stake to New York Jets owner Woody Johnson.
Article content
CAS said Palace's appeal was also against Nottingham Forest, which was promoted from the Conference League to the Europa League, and Lyon.
Article content
Palace's appeal asks for either Forest's or Lyon's qualification to the competition be rejected.
Article content
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Canada News.Net
9 minutes ago
- Canada News.Net
"We will pay as low as the lowest nation in the world," Trump on Most Favoured Nation drug pricing plan
Washington DC [US], August 4 (ANI): US President Donald Trump while speaking to reporters on Sunday (local time), said that he aimed to lower the prices of pharmaceutical drugs with the Most Favoured Nation prescription drug pricing plan. Trump said before boarding Air Force One in Allentown, Pennsylvania that the US will pay the lowest price just like other European nations do. 'We want the same price as Europe gets. We want the same price as other countries get ... We will pay as low as the lowest nation in the world. The next big move is going to be the price of drugs because you could buy something in London or in Germany some place... sometimes 1/10th the price of what it costs to buy it in New York... We're not doing that anymore,' he said. Trump is increasing pressure on major drugmakers to bring their US prices in line with the far lower ones available to patients in other countries. However, industry experts don't expect the pharmaceutical companies to comply, CNN reported. Earlier on Thursday, Trump sent letters to 17 major pharmaceutical company CEOs on with a list of demands, including that the manufacturers extend 'Most Favored Nation' pricing, the lowest price paid for a drug in a peer country, to all drugs provided to Medicaid enrollees. The US president gave the companies 60 days to comply. The directive stems from an executive order Trump signed in May, when he demanded drugmakers start offering US patients lower prices or face consequences. Meanwhile the US President continued to bat for the tariff policy saying that it would bring down debt. 'We're going to pay down debt. We have a lot of money coming in, much more money than the country's ever seen, by hundreds of billions of dollars... we should've done this many years ago,' he said. (ANI)
Canada News.Net
10 minutes ago
- Canada News.Net
EU surrendered to Trumps demands out of fear Sunday Times
The European Commission president was allegedly worried the US could stop military aid to Ukraine or even pull out troops from Europe European Commission President Ursula von der Leyen agreed to a lopsided US trade deal without resistance out of fear that Washington might reduce military support for Ukraine or even withdraw American forces from Europe, the Sunday Times reported this weekend. The paper described von der Leyen's recent visit to President Donald Trump's golf course in Scotland - where she accepted a 15% tariff on most EU exports - as a "surrender." According to the report, officials inside the Commission initially prepared a strong countermeasure package in response to Trump's proposed 20% tariffs announced in April. But when Trump threatened to raise the tariffs to 30%, von der Leyen pulled back. Behind her reversal was "the fear that Trump might use a dispute as a pretext to cut US military support for Ukraine or otherwise damage European security," the Sunday Times wrote. Brussels was reportedly particularly concerned about the outcome of a pending American "posture review" that may result in the withdrawal of some of the roughly 80,000 US troops stationed across Europe. READ MORE: US could slash troop presence in Europe Politico The trade agreement finalized last week includes not only the 15% tariff on EU goods, but also commitments by Brussels to invest $600 billion in the US economy and purchase $750 billion worth of American energy over the next three years. In contrast, the UK - negotiating independently - secured a lower 10% tariff on its exports. Amid mounting internal backlash in Brussels, French President Emmanuel Macron reportedly criticized the outcome, saying the EU is "not feared enough." Hungarian Prime Minister Viktor Orban remarked that Trump "ate her for breakfast," and accused von der Leyen ofexceeding her authorityby allegedly pledging to purchase large quantities of US arms. Von der Leyen has also faced growing political resistance at home, as she pushes to redirect a significant portion of the EU's next €1.8 trillion seven-year budget from traditional areas such as agriculture and regional development toward militarization. She narrowly survived avote of confidencein the European Parliament last month amid criticism of her leadership style and controversies over her Covid-19 vaccine procurement deals. Some MEPs now view her current term as her "last chance," according to lawmakers quoted by the Times.
The Market Online
2 hours ago
- The Market Online
Three micro-cap stocks tracking cutting-edge technology
The potential for cutting-edge technology stocks to deliver exponential returns often leads investors astray, tempting them with the glamour of ownership to such a degree that any sense of valuation goes out the window. This content has been prepared as part of a partnership with Cheelcare Inc., Corp. and Fineqia International Inc., and is intended for informational purposes only. This instinctual phenomenon, known in behavioral finance as herd mentality, can lead to unsustainable run-ups in valuation, where a company far outshoots its given technology's tailwind, well beyond what its income statements can substantiate, opening investors up to steep losses once the company fails to keep up with expectations. To avoid this outcome and populate their watchlists with an optimized candidate mix, it stands to reason that investors should keep blind belief at bay through a focus on fundamentals, grounding their exposure to cutting-edge technology in business health and long-term, high-conviction growth runways. To get your watchlist started, in the newest edition of Stockhouse's Weekly Market Movers, I'll analyze three future-facing technology companies through a fundamental lens, revealing how each makes a data-driven case for a positive investment outcome. Cheelcare Our first technology stock to consider is Cheelcare, market capitalization C$20.02 million, an Ontario-based mobility technology developer catering to people with physical disabilities. The company's award-winning product suite includes cutting-edge robotic power wheelchairs, power add-ons for manual wheelchairs, as well as advanced wheelchair accessories such as a rearview camera, each designed to meaningfully enhance how users interact with the world. Cheelcare is overseen by a management team specialized in software, medical devices, transportation, occupational therapy and capital raising, an ideal mix to keep operations aligned with client care and shareholder value in equal measure. While the company listed on the TSXV only on July 16, and has yet to release its first public quarterly results, the stock seems to have normalized around the C$1 mark, following an initial pop, making it one to watch should the company translate the meeting of unmet needs among the wheelchair bound into evidence of a path to profitability. To this end, players in the global wheelchair market stand to benefit from a hefty 7.2 per cent compound annual growth rate through this decade, reaching US$8.4 billion in value by 2030. Founder and chief executive officer (CEO), Eugene Cherny, spoke with Stockhouse's Lyndsay Malchuk about the reasoning behind going public. Watch the interview here. Cheelcare stock (TSXV:CHER) last traded at C$1.02 and has added 3.03 per cent since inception on July 16. Our next cutting-edge technology stock with tangible potential, market capitalization C$13.67 million, specializes in AI-powered 3D modeling and spatial computing, helping a growing roster of enterprise and e-commerce clients – including Amazon and Shopify – drive engagement through scalable modeling, immersive product visualization and customizable digital spatial experiences. The company recently released its financial results for the 15 months ended March 2025, showing robust evidence of being on a path to profitability, achieving: A 55 per cent increase in gross profits to C$2.24 million. Gross margin growth from 29 to 64 per cent thanks to improving unit economics and a shift towards more scalable SaaS and bundled models. A 58 per cent reduction in operating cash burn to C$5.56 million. A 56 per cent reduction in adjusted operating loss to C$6.07 million. A 55 per cent reduction in sales and marketing expense to C$2.03 million. A 41 per cent decrease in general and administrative expenses to C$4.5 million. According to Wednesday's news release, management expects this efficiency to continue gaining traction over the near term thanks to a 'cost structure aligned to support recurring revenue growth with reduced dependence on variable production models.' This cost structure, in turn, positions the company to 'drive margin-accretive growth, capture recurring revenue opportunities and create long-term value for shareholders in fiscal 2025 and beyond.' When we look farther back into Nextech's income statements, we find evidence of this plan in motion, with reductions in SG&A expenses as well as long-term debt extending back to 2021, and net income loss improving every year from C$32.65 million in 2021 to C$5.18 million in the fiscal year ended December 2024. The broader market vehemently disagrees, with stock (CSE:NTAR) having given back 15 per cent year-over-year and 98.62 per cent since 2020, last trading at C$0.085, which should be making bells and whistles go off in the heads of readers that identify as contrarian investors. Readers interested in learning more can check out Evan Gappelberg, CEO, in conversation with Lyndsay Malchuk about the company's progress at the intersection of AI, 3D modeling and e-commerce. Watch the interview here. Fineqia Our final boundary-pushing technology stock is Fineqia, market capitalization C$8.25 million, which is building a portfolio of investments and European-listed exchanged-traded products focused on blockchain and cryptocurrency, both key drivers towards a more equitable global financial system that strips power from institutions and reorients it towards the individual. Here's a breakdown: The Fineqia FTSE Cardano Enhanced Yield exchange-traded note (ETN) provides exposure to the ADA token, the cryptocurrency powering the Cardano blockchain network, one of the largest and most well-respected in the industry, which is known for peer-reviewing projects before onboarding them. The ETN has garnered €23.7 million in assets under management and targets a 7 per cent annual yield by providing liquidity to the Cardano ecosystem. The Fineqia Bitcoin Yield exchange-traded product (ETP) allows investors to earn yield denominated in Bitcoin, the largest and most popular cryptocurrency, while building a coin balance that compounds over time. The ETP has accumulated €11.6 million in assets and aims for a 6 per cent annual yield. The company also provides exposure to private and early-stage deal flow through more than a dozen direct and indirect investments active in gaming, non-fungible tokens, enterprise cloud, money exchange and high-precision positioning, each of them making novel use of blockchain technology to add value beyond legacy competitors. Fineqia differentiates itself from most pure-play crypto companies because it doesn't have to rely exclusively on raising capital, taking on debt or selling assets to bankroll future growth plans. Rather, its funds generate management fees, providing it with a source of cash flow to take advantage of strategic opportunities and built revenue supported by crypto's evolving but improving long-term growth prospects. The company's management team also brings clearly value-accretive experience to the table, with chairman Martin Graham serving as director of markets and head of AIM at the London Stock Exchange from 2003 to 2009, overseeing 1 in 4 of all global initial public offerings during his tenure, while CEO Bundeep Singh Rangar has long been active in the venture capital space with a focus on insurance and digital assets, attracting funding from the likes of Rakuten, Tim Draper, Madison Dearborn, Morgan Stanley, as well as the Thomson family of Thomson Reuters. Despite a growing portfolio, revenue generation and executives deeply familiar with separating solid value propositions from story and hype, Fineqia stock (CSE:FNQ) is down by 50 per cent since 2020, last trading at C$0.005, presenting investors with a data-driven chance to transform broader market reluctance into the harvesting of substantial upside, contingent on blockchain and cryptocurrency settling into stable, long-term use cases. Rangar joined Lyndsay Malchuk for episode 13 of Stockhouse's Contributors Corner, where they cover the ins and outs of the ongoing shift towards corporate Bitcoin treasuries. Watch the interview here. Thanks for reading! I'll see you next week for a new edition of Weekly Market Movers, where I delve into companies that sat down with Stockhouse for an interview over the past week. Here's the most recent article, in case you missed it. Join the discussion: Find out what investors are saying about these cutting-edge technology stocks on the Cheelcare Inc., Corp. and Fineqia International Inc. Bullboards and check out the rest of Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
