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The Sun
a day ago
- Business
- The Sun
Crystal Palace closer than ever to being kicked out of Europe as Man Utd trick to stay in Europa League fails
CRYSTAL PALACE are facing complete EXPULSION from Europe next season after Uefa rejected a desperate ploy from club shareholders. The Eagles are facing the prospect of not playing in the Europa League, which they qualified for by winning the FA Cup, due to shareholder John Textor owning a stake in French outfit in Lyon. 4 4 4 Lyon are also set to feature in the competition having qualified with a sixth-placed finish in the Ligue 1 last season. Uefa rules prohibit anyone from "simultaneously be involved in any capacity whatsoever in the management, administration, and/or sporting performance of more than one club participating in a Uefa club competition." The prospect of Palace dropping into the Conference League is also nigh-on impossible as other shareholder David Blizter also has a stake in Danish oufit Brondby, who are set to play in European football 's tertiary club competition next season. In a desperate bid to see the Eagles fly across Europe next season and comply with Uefa rules, Textor and Blizter offered to put their shares in a blind trust. But Uefa chiefs have REJECTED the offer, leaving Palace's proposed European adventure next season in limbo. The proposal was rejected as Palace missed the registration deadline to submit it. Had it been approved, a blind trust would've seen a group of trustees take control of Textor's shares in Palace for the 2025/26 season. English clubs aren't strangers to utilising blind trusts so as not to fall afoul of Uefa rules. JOIN SUN VEGAS: GET £50 BONUS 4 Manchester City and Manchester United utilised blind trusts last season as sister clubs Girona and Nice both qualified for the Champions League and Europa League respectively. Palace held crunch talks with Uefa to try to resolve the potentially devastating issue earlier this week. And the meeting on the shores of Lake Geneva ended up in Textor putting his shares in the south London club up for sale. He told The Daily Mail: "Look, all of the UK knows that I don't have decisive influence over Palace. It was a good meeting. "They listened and we'll see what happens. I wouldn't be trying to sell (his stake) if I did." Textor, 59, added: ""We are trying to help separate it and sell. "We wanted to buy but it's become clear that isn't going to happen and so we're trying to help Palace and the situation with UEFA. "That's about all I can say."
The Guardian
a day ago
- Business
- The Guardian
Crystal Palace's Europe place in balance after Uefa rejects owners' blind trust move
Uefa has rejected offers from Crystal Palace shareholders John Textor and David Blitzer to put their shares in a blind trust to ensure the club can compete in Europe next season. Palace's participation in the Europa League has been cast into doubt as the club's largest shareholder Textor is also the majority owner of Lyon, who have also qualified for the second tier competition. And to compound matters, Blitzer's Danish club Brøndy have qualified for the Conference League, so the prospect of the FA Cup winners dropping into that competition is also not an option due to the European governing body's multi-club rules. Palace executives, including Textor and chairman Steve Parish, met with Uefa officials in Nyon on Tuesday to try to broker a solution without reaching a resolution. The Guardian has learned that the so-called blind trust option in which Textor's Palace shares would be placed in the hands of trustees next season was rejected by Uefa, as the as the club missed the deadline for registering the trust. Manchester City and Manchester United both used blind trusts to ensure compliance with Uefa multi-club rules last season after their partner clubs, Girona and Nice, both also qualified for the Champions League and Europa League respectively, while Nottingham Forest owner Evangelos Marinakis also transferred his shares when Nuno Espirito Santos' side and his Greek club Olympiacos looked on course to qualify for next season's Champions League. Uefa rules state that such ownership changes must take place before 1 March to take effect in time for the following season, however, with Palace told this week that they will not be shown any flexibility. European qualification was not on the agenda for Palace before March, as they were mid-table in the Premier League and had not progressed beyond the FA Cup fifth round. Palace are in danger of paying a heavy price for their lack of foresight, leading to considerable frustration at Uefa's lack of flexibility. Uefa declined to comment, but sources at the European governing body stressed that given more than 300 clubs take part in its competitions each season, it has to ensure that the regulations are applied consistently. Textor told the Daily Mail after Tuesday's meeting that he is looking to sell his 45% stake in Palace, but there is little realistic prospect of that happening in time to influence Uefa's decision, with the Europa League qualifying draw due to take place on 17 June. Just three weeks ago on the eve of the FA Cup final, The Guardian revealed that Textor was seeking to buy out fellow American shareholders, Blitzer and Josh Harris, who own 36% of the club between them. The two parties have previously held on-off talks about buying each other out, but have never got close to an agreement on price. Textor also signalled his intention to sell Palace when he was attempting to buy Everton last summer without making any discernible progress. Sign up to Football Daily Kick off your evenings with the Guardian's take on the world of football after newsletter promotion With a quick sale and the transfer of shares seemingly off the table, Palace's best hope of playing in the Europa League for the first time appears to be persuading Uefa that Textor has no influence at Selhurst Park, although this may not be straightforward. In addition to his 45% stake Textor has 25% equal voting rights with Parish, Blitzer and Harris, and is known to have played a key role in the appointment of the manager Oliver Glasner last year. Textor has declined to comment. Uefa rules make clear that any influence at two clubs in the same competition is prohibited. 'No one may simultaneously be involved in any capacity whatsoever in the management, administration, and/or sporting performance of more than one club participating in a Uefa club competition,' the regulations state. 'No individual or legal entity may have control or influence over more than one club participating in a Uefa club competition, (including) holding a majority of the shareholders' voting rights; having the right to appoint or remove a majority of the members of the administrative, management or supervisory body of the club; being a shareholder and alone controlling a majority of the shareholders' voting rights pursuant to an agreement entered into with other shareholders of the club; or being able to exercise by any means a decisive influence in the decision-making of the club.' In the event of Palace being barred from the Europa League, Forest could be promoted to take their place after qualifying for the Conference League by finishing seventh in the Premier League. Palace's rivals Brighton, who finished eighth, could then replace Forest in the Conference League. Palace's European position is under threat rather than Lyon's, as Uefa rules state that the club ranked highest in its domestic championship will be given entry to the competition. Lyon's sixth-place finish in Ligue 1 gives them precedence over Palace, who came 12th in the Premier League.
Daily Mail
2 days ago
- Business
- Daily Mail
Eberechi Eze breaks silence on Crystal Palace's battle to keep European place - after Eagles' chiefs held crunch two-hour talks with UEFA
Eberechi Eze says it would be a 'huge shame' if Crystal Palace were kicked out of the Europa League, but he is confident the issue will be resolved. Mail Sport revealed this week that the club's participation in next season's competition is in doubt because of UEFA rules on multi-club ownership. American businessman John Textor has a stake in both Palace and French club Lyon, who have also qualified for the Europa League. Textor is now offering to sell his 43 per cent share in Palace and UEFA are expected to confirm in the next 10 days the outcome of this week's hearing in Nyon. Eze, who scored the only goal in the FA Cup final win over Manchester City, is currently training with England here in Spain, but he is aware of the situation unfolding with his club. 'I really hope that that's not the case (removed from the Europa League) and I hope that Palace do get the reward for that (FA Cup win), because of what it took to actually achieve it,' he said. UEFA ownership rules may mean they cannot compete. US businessman John Textor is majority shareholder at Lyon while Brondby are owned by Palace co-owner David Blitzer 'It would be a huge shame if that was the case, but I'm trusting that it will work out in the end. 'I'm sure it will work itself out and it should work itself out, because there are players who have worked to be in this position. 'There are fans who have been with the team throughout the whole season and experienced everything. 'It would be unfortunate, but I'm positive that it won't be the case.'
Telegraph
3 days ago
- Business
- Telegraph
Crystal Palace mess sums up football's multi-club ownership problem
After six historic wins, culminating in victory over Pep Guardiola's Manchester City, it appears that the biggest obstacle to Crystal Palace's first European campaign can actually be found at the Uefa offices in Nyon. Palace 's multifaceted ownership structure, which includes the American John Textor's 43 per cent stake, is under intense scrutiny due to Uefa rules which forbid clubs with shared owners competing in the same competition. Textor also holds an 88 per cent stake in the French club Lyon, who have also qualified for the Europa League. The situation is potentially further complicated by another Palace shareholder – David Blitzer – also holding a stake in Brondby. The Danish club have qualified for the Uefa Conference League and it had been suggested that Palace could yet find themselves 'demoted' to that competition. Talks continue as they search for a solution, with Textor suggesting on Monday night that his stake in Palace is now up for sale. But one thing is at least clear within this mess. The explosion over the past five years in the number of multi-club ownership (MCO) structures means that such situations will arise with increasing frequency. It is barely a month, after all, since it emerged that Evangelos Marinakis had placed his Nottingham Forest shares into a 'blind trust' to satisfy Uefa rules which would preclude him from having 'influence' should Forest have qualified alongside another of his clubs, Olympiacos, for the Champions League. The same move was made last year by Sir Jim Ratcliffe's Ineos at Nice and City Football Group at Girona, after Manchester United and Manchester City joined their sister clubs in respectively the Europa League and Champions League. Chelsea, who are owned by the Todd Boehly-fronted BlueTech investment vehicle, had faced the same looming issue in respect of Strasbourg and were in talks with Uefa in case the French club also qualified for the same European competition. Fifa has also just expelled Leon from the Club World Cup after ruling that they could not participate alongside fellow Mexican club Pachuca because of the potential conflict of interest from shared owners. Prior to the pandemic in 2020 there were less than 60 clubs worldwide operating within such an arrangement. That number now stands at more than 400. And research by Jason Stephens, an MCO adviser and lecturer at the University Campus of Football Business in London, has found that there are now 147 MCO operations in the world. Familiar examples include the City Football Group, in which Manchester City stand at the top of a 13-country, five-continent structure and Red Bull, one of the innovators of a concept that has brought shared playing styles and brand identity across countries. The prospect of heading up one of these multi-faceted operations was apparently sufficient to lure Edu from his job as Arsenal sporting director to a widely expected global director of football role across the Marinakis's empire. The Greek businessman, who is worth an estimated £3 billion, has since been in talks to add a controlling stake in Brazilian side Vasco da Gama to his network in England, Greece and Portugal. It is also notable that Marinakis's Forest are currently working on a deal that links them again with Textor's clubs. Forest are hoping to tie up a remarkable triple de al with Brazilian side Botafogo for striker Igor Jesus, centre-back Jair Cunha and left-back Cuiabano. The completion of those transfers would likely open the way for Danilo to leave Forest and join Lyon. Botafogo are owned by Textor, the owner and president of Lyon, as well as co-owner of Palace. If the deal progresses, Danilo would be the third player Forest have sold to Lyon in the past year. Last summer the French club paid £27 million for defender Moussa Niakhaté and about £15 million for midfielder Orel Mangala. Liverpool's Fenway Sports Group has also been actively exploring options that include buying a stake in Málaga in Spain, after pulling out of a deal last year for French club Bordeaux. Brighton owner Tony Bloom bought a 19 per cent stake in Melbourne Victory last month and has just submitted a bid for almost a third of the Scottish club Hearts. Brentford's controlling group, Best Intentions Analytics (BIA), bought the Spanish club Asociación Deportiva Mérida last month and Stephens believes that major recent investments at Aston Villa and Chelsea, respectively by the companies Atairos and Ares Management, will be used to widen existing MCO portfolios. It is a booming alternative transfer market with huge implications and yet it has gone largely unnoticed by the majority of football supporters. 'Cheaper to buy a club in Europe than pay £30m for a young player' So what explains this trend, and should fans be worried? Simon Leaf, who is a partner at legal firm Mishcon de Reya, which has advised clubs on their MCO structures, says that it is 'almost a development on' from the situation in South America two decades ago, when agents began owning the economic rights to players, most famously Javier Mascherano and Carlos Tévez. 'Rather than having agents owning players or clubs you now have clubs owning clubs, and there are multiple benefits that can bring,' Leaf says. These include reducing costs by centralising resources and expertise in key staffing areas, notably scouting and data analytics to optimise player recruitment and development, with MCOs potentially able to develop global academies across entire regions through a handful of clubs. 'It is actually cheaper to buy a club in Europe than to pay £30 million for a young player,' says Stephens, who says that you can then 'house multiple talented young players, control playing style and development minutes, ensuring they are prepared to play at the appropriate level.' This pooling and internal movement of players clearly has huge potential upsides in minimising what are often astronomical agents' fees, as well as dealing with local immigration rules, such as the UK's post-Brexit ban on bringing in players under the age of 18. At a commercial level, shared sponsorship deals and unified merchandise platforms across diverse regions are also estimated to enhance income by up to 30 per cent. Multiple concerns have been raised, however. Fans (more commonly outside of England's dominant Premier League) fear their club potentially becoming a lower-order concern within a structure that might ultimately be about maximising the 'mother' club. There is also the fear of lost identity – would Leeds United fans want their club rebranded if Red Bull ramps up its investment? – and the potential loss of proximity to an owner. Fan protests While certain collaborations may make sense on a practical level, is that compatible with the emotional one-club mindset of so many football followers? Fans at Nice, Troyes and Strasbourg, respectively linked via their owners to Manchester United, Manchester City and Chelsea, have all protested in recent years. 'Fans [from clubs] at the top of the model are not so bothered, but lower down they are,' says Niamh O'Mahony, chief operating officer at Football Supporters Europe. Strasbourg supporters wrote a stinging letter in 2023, outlining their fears over the 'senseless' recruitment and 'over exposition' of very young players. 'Fans don't relate to their team at the moment,' they said, warning that the MCOs risked reducing most clubs 'to a simple objective of developing young players and helping the few clubs at the top of the pyramid.' For regulators such as Uefa, the major concern relates to potential conflicts of interest. The Uefa rule book says that no one may be simultaneously involved 'in any capacity' in the management, administration or sporting performance of another club in the same competition. Owners have so far satisfied Uefa by placing shares of one club in a blind trust to be operated by independent directors or, in the case of Brighton and Union Saint-Gilloise in 2023, a reduction in Bloom's stake in the Belgian club. Few experts, however, believe that governing bodies can easily enforce rules around control or influence. Blind trusts are 'token gesture' 'It doesn't matter what measures you put in place – reducing stakes or creating temporary blind trusts – you are never going to control influence,' says Stephens. 'This blind trust rule is a token gesture. The owner is still funding the club, and do the football regulators really believe that conversations are not taking place in the shadows on the strategic direction?' Research last year by Nicholas Lord and Peter Duncan of the University of Manchester laid bare the complexities of Premier League ownership structures. Of the 20 clubs in 2023-24, more than half had five or more different entities within their ownership structure, including six clubs with 10 or more entities, of which many are based outside the UK in jurisdictions with higher financial secrecy. Lord says that it would not be difficult theoretically for an investor who wanted to 'mask' any conflicts of interest. 'I think currently it's very straightforward to do that by using these various legal entities and arrangements,' he says. Duncan says that he is not particularly concerned from the point of view of sporting integrity, but questions whether it is desirable for clubs to be concentrated among a more select group. 'It seems indicative of this pattern of concentration of wealth among an ever smaller proportion of the population,' he says. Potential for hidden MCOs Arguably of greatest concern is the fact that ownership rules in England require only someone above a 25 per cent shareholding to take the Owners' and Directors' Test and more than 10 per cent to have their identity declared. It would suggest that the real worry might not be those MCOs which are out in the open but the possibility of investors accumulating multiple interests that are not publicly declared and having almost a hidden MCO. According to Lord and Duncan, who work in the department of criminology at Manchester, that is perfectly possible. 'You don't have to declare who is a shareholder unless they have more than a 10 per cent stake in a club and, even if they do have greater than 10 per cent, it is possible to hide that,' Duncan says. Lord adds: 'You might have a situation where you have lots of investors, investing in lots of different clubs, and no one would be aware. How much sway and influence they can have over these different clubs and activities, their transactions, is very difficult to determine. It is still straightforward to circumnavigate [the 25 per cent 'control' and 10 per cent 'significant interest' thresholds]… in that you can simply split your investment across different vehicles.' Player trading in MCOs has been another area of concern, particularly in the context of meeting various financial rules on spending and the subjective nature of valuing players. Allan Saint-Maximin's move from Newcastle to Al-Ahli (also owned by Saudi Arabia's Public Investment Fund) for an undisclosed fee in 2023 is one deal that came under scrutiny. City Football Group, says Stephens, has come to be seen as a benchmark, not just for its on-field success at Manchester City, but also its work within communities surrounding its clubs. He also cites Core Sports Capital, with its growing structure in Germany, Switzerland and Austria, and the Black Knight Football Group, which includes Bournemouth in its portfolio, as other currently successful examples. It certainly feels like we are witnessing a permanent shift rather than a passing fashion. Asked if he sees this trend continuing, Stephens has a simple answer: 'Yes, 1,000 per cent.'
Daily Mail
3 days ago
- Business
- Daily Mail
EXCLUSIVE John Textor is hoping to SELL his stake in Crystal Palace as Eagles desperately attempt to avoid being kicked out of Europe after crunch talks with UEFA
John Textor is trying to SELL his majority stake in Crystal Palace as the club seek to avoid being booted out of European competition before a ball has been kicked. Mail Sport spoke exclusively to the Eagles' 43 per cent shareholder, whose ownership of Lyon is putting the first-time FA Cup winners' European adventure in serious risk of collapsing before it has even begun. We revealed yesterday that a group of Palace officials were jetting to Switzerland for crunch talks with UEFA. And, speaking after hearing on the shores of Lake Geneva that lasted for around two hours, the US businessman declared that he had effectively put the club up for grabs to avoid what would be a potential disaster. Textor had announced his intention to sell previously as he eyed a move for Everton. However, since then he had upped attempts to increase his stake in Palace amid frustration that his current share only entitles him to 25 per cent of the voting rights, along with three others. UEFA rules on multi-club ownership have put Palace's maiden voyage under serious threat. Textor's French side, Lyon , have also qualified for the Europa League and would take the slot as they finished 6 to Palace's 12. To make matters worse, Danish outfit Brondby, owned by Palace shareholder David Blitzer, would be in line to take the spot in the Europa Conference League, should Palace be told they cannot play in the Europa League and effectively take 'relegation'. Should that worst case scenario transpire, bitter rivals Brighton would enter the Conference League and Nottingham Forest would be elevated to the Europa League. When asked how the hearing had gone, Textor responded: 'Look, all of the UK knows that I don't have decisive influence over Palace. It was a good meeting. They listened and we'll see what happens. I wouldn't be trying to sell (his stake) if I did.' When pressed further, Textor added: 'We are trying to help separate it and sell. We wanted to buy but it's become clear that isn't going to happen and so we're trying to help Palace and the situation with UEFA. That's about all I can say.' Textor's openness was in direct contrast with the haughty demeanour of Palace co-owner and chairman Steve Parish. There is rumoured to be friction between the two and Parish failed to respond to questions from Mail Sport. Instead, he made his way to a waiting Mercedes 4x4 and sat wordlessly in the back. It is understood that UEFA lawyers will now consider Palace's case before making a decision in the near future. The draw for the qualifying stages of the Europa Conference takes place on June 17 and a decision is likely to be forthcoming ahead of that date. Ahead of today's showdown, Palace were thought to be confident that the situation would be resolved and they will now be hoping that a personal appearance from Textor will have provided the necessary assurances to the governing body. The situation is unprecedented, in that three clubs are involved. Others in the Premier League have had to make changes to enable their other sides to allow their English clubs to participate in European competition. Both Manchester clubs have made boardroom changes at Nice and Girona in the shape of so-called 'blind trusts', while Nottingham Forest owner Evangelos Marinakis did similar when it appeared as though they and his Greek outfit Olympiakos may both make the Champions League.
