Crystal Palace: Woody Johnson completes purchase of Eagle Football’s shareholding in the club

American businessman Textor bought a stake in the club in 2021 but ends his association with Palace as they attempt to overturn Uefa’s decision to demote them from the Europa League to the Conference League.

The Eagles were punished for breaching multi-club ownership rules as Textor had a stake in the club and is the majority owner of Lyon, who have also qualified for the Europa League.

Palace have submitted an appeal against Uefa’s decision and against French club Lyon and Premier League rivals Nottingham Forest with the Court of Arbitration for Sport.

Forest, who finished seventh in the Premier League last season, are expected replace FA Cup winners Palace in the Europa League should the punishment stand.

The rules of European football’s governing body state that clubs owned, to a certain threshold of influence, by the same person or entity cannot compete in the same European competition.

Uefa’s rules set a deadline of 1 March 2025 to show proof of multi-club ownership restructuring – a deadline Palace missed.

They argued Textor does not hold any decisive influence at the club, but Uefa did not accept the Premier League club’s defence.

Speaking to The Rest is Football, external podcast last week, Parish said he was “very hopeful” the decision would be overturned.

“We don’t think this is the right decision by any means. We know, unequivocally, that John [Textor] didn’t have decisive influence over the club,” he said.

“We know we proved that beyond all reasonable doubt because it’s a fact.”