JOSH HARRIS wants to buy out John Textor in the latest tug of war at Crystal Palace.
Textor owns around 45 per cent of the club and was planning to make a move on Harris and David Blitzer — who have 18 per cent each — to purchase their shares.
Textor now willing to sell up to avoid Palace being booted out of the Europa League[/caption]
But that has failed so far — with Textor now willing to sell up to avoid Palace being booted out of the Europa League due to Uefa’s rules on multi-club ownership.
The European governing body’s regulations mean Textor, majority owner of Lyon, cannot have influence at two clubs in the same competition.
But a sale is unlikely to be quick and will not impact the decision of Uefa chiefs.
And Harris is looking to pay a smaller sum than his US compatriot wants.
Textor, whose Palace club won entry to the Europa League through winning the FA Cup, does not have a majority stake and only 25 per cent of voting rights.
Palace hope that relatively low figure will help their case with Uefa, who are expected to deliver a verdict next week.
Lyon are also set to feature in the competition having finished higher than Palace domestically, 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.”
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The prospect of Palace dropping into the Conference League is also nigh-on impossible too.
This is because 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.
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.
