Crystal Palace to stay in Conference League after losing appeal at Cas

  • Palace were demoted from Europa League by Uefa

  • Club hoped to overturn decision related to ownership

Crystal Palace have lost their appeal against demotion from the Europa League and will take their place in the Conference League. The court of arbitration for sport confirmed on Monday that the FA Cup winners were unsuccessful in overturning the decision made by European football’s governing body to punish them for contravening its rules over multi-club ownership.

Uefa demoted Palace to the Conference League after they were deemed to have breached regulations because John Textor held shares in Palace and Lyon, who also qualified for the Europa League. He has since sold his 43% stake to his fellow US businessman Woody Johnson.

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John Textor teams up with football financier in push to buy Sheffield Wednesday

  • Working with former investment banker Keith Harris

  • Former Palace shareholder Textor keen on crisis-hit club

John Textor has teamed up with the football financier Keith Harris in an attempt to buy Sheffield Wednesday. Harris, a former investment banker, has brokered takeovers at West Ham, Manchester City and Aston Villa and put together a consortium to buy Everton last year, although that bid was unsuccessful.

Textor was granted exclusivity in his attempt to buy Everton through his investment vehicle, Eagle Football, but also failed to complete. The American was not working with Harris, but they got to know each other through the Englishman’s work for Sportsbank, which this year offered Textor £230m to buy 45% of Eagle. The multi-club operation owns Lyon, Botafogo, the Belgian club RWD Molenbeek and was the biggest shareholder at Crystal Palace until selling to Woody Johnson last month.

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