On Monday, Uefa announced it had postponed a decision on whether Palace would still retain a Europa League place after winning the FA Cup.
In an attempt to rectify the situation, Textor sold his 43 per cent stake in Palace to New York Jets owner Woody Johnson, for around £190m. But it is thought that this was not enough to satisfy the CFCB, as Textor had not relinquished his stake by the March 1 deadline.
Palace had also tried to argue, during questioning by the CFCB, that while Textor owned a controlling stake, his power was diluted due to four-way voting requirement of the four owners. And that the club shared no resources with Lyon.
Lyon have launched an appeal and Palace’s future in the Europa League hinges on the outcome.
Some well-placed sources believe Lyon’s appeal could be heard next week, but they are completely at the mercy of the French football authorities.
It is believed that if Lyon’s appeal has not been heard by the new deadline, the Europa League place will be handed to Crystal Palace.
Textor insisted, at the time, that Lyon would not be relegated, a stance he reiterated in an interview with French publication L’Equipe in the week before the relegation was confirmed.
Lyon said in a statement that it was an “incomprehensible decision” after they had “worked closely” with the DNCG.
Textor, who also owns clubs in Brazil and Belgium, has since resigned from leadership positions at the French club, hinting that he might invest in another English club.
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