Crystal Palace's chances of competing in Europe next season have received a significant boost following John Textor's decision to sell his stake in the club. The sale, which comes after Crystal Palace secured a Europa League spot by defeating Manchester City in the FA Cup final last month, aims to address concerns raised by UEFA's multi-club ownership rules.

Textor's ownership of a 45% stake in Crystal Palace, coupled with his significant shares in French side Lyon, presented a conflict of interest under UEFA regulations, potentially jeopardizing Crystal Palace's participation in the Europa League. To resolve this, Textor has reportedly sold his shares to Woody Johnson, the owner of the New York Jets, for a sum estimated between £160 million and £190 million.

The sale is pending Premier League approval, but it is expected to remove the obstacle preventing Crystal Palace from participating in the Europa League. Textor, through his Eagle Football Holdings group, also holds a substantial stake in Brazilian club Botafogo. He initially invested in Crystal Palace in 2021.

Neither Crystal Palace nor Eagle Football Holdings have issued any comments regarding the sale. However, sources close to Crystal Palace indicate that UEFA is expected to make a decision regarding the club's participation before the end of June. This move signifies a crucial step in ensuring that Crystal Palace can fully capitalize on their FA Cup victory and represent English football in the upcoming Europa League season.