BBC: Major shareholders sell shares for 190 million pounds to reach agreement, UEFA decides on Friday s Crystal Palace Europa League qualification
Crystal Palace has qualified for the European tournament for the first time by winning the FA Cup, but UEFA must decide whether they violated the multi-club ownership rules. The results of the hearing are expected to be announced Friday night.
On Monday, New York Jets owner Woody Johnson announced that he had signed a "legally binding contract" to acquire 43% of John Tector's shares in Crystal Palace for about £190 million.
Due to Tector's participation in the club, Crystal Palace is at risk of losing its qualification to participate in the European competition. UEFA has been considering whether Crystal Palace violated the multi-club ownership rule, which prohibits linked clubs from competing in the same European event.
Tector also holds shares in the French club Lyon, and Lyon has also qualified for the UEFA Cup. Despite Tector's stake in Crystal Palace, the club insists that he does not have substantial control over the club. Another twist this week, with Lyon being relegated to Ligue 2 due to poor financial conditions, which could make French teams completely unable to compete in European competitions.