APJohn Textor, Chairman of Eagle Football Holdings, speaks during the FT Business of Football Summit in London, Thursday, Feb. 29, 2024. (AP Photo) Premier League football club and the UK's prestigious tournament FA Cup 2025 champions Crystal Palace have been demoted to the third-tier Conference League by the European soccer governing body UEFA on Friday because of the London-based side's ownership ties to French club Lyon through American businessman John Textor. UEFA said its club finance panel accepted Lyon’s entry into the second-tier Europa League instead.The decision follows the financially troubled French club being reprieved this week from demotion to the French second division. UEFA's decision came after six weeks of uncertainty for the south London club which has taken the shine off the first qualification for European competitions in its history. Palace beat Manchester City in the FA Cup final. Palace can challenge the UEFA ruling at the Court of Arbitration for Sport. A fast-track case would need to be held within about one month before Conference League qualifying playoffs.Who is John Textor?John Textor has 43 per cent minority stake in Palace even though he had limited decision-making influence there — while he owned Lyon outright, conflicted with UEFA rules on multi-club ownership designed to protect the integrity of its competitions.Live EventsTextor has been an increasingly controversial figure in global soccer, also owning Brazilian club Botafogo and Belgium's Molenbeek while being linked with a failed bid to buy Everton.Nottingham Forest should now step up into the Europa League from the Conference League, which is potentially worth 20 million euros more in UEFA prize money.Forest has had its own potential multi-club issues because Evangelis Marinakis also owns Greek league winner Olympiakos which will play in the Champions League.FAQsQ1. Who owns Crystal Palace?A1. John Textor has 43 per cent minority stake in Palace even though he had limited decision-making influence there — while he owned Lyon outright, conflicted with UEFA rules on multi-club ownership designed to protect the integrity of its competitions.Q2. Who won FA Cup 2025?A2. Crystal Palace won FA Cup 2025.(You can now subscribe to our Economic Times WhatsApp channel) Read More News onCrystal PalaceLyonJohn TextorPremier LeagueCrystal Palace UEFA (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onCrystal PalaceLyonJohn TextorPremier LeagueCrystal Palace UEFA(Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless Explore More Stories123