Crystal Palace is close to a change of ownership. The new owner will be an American billionaire

Crystal Palace is on the verge of being excluded from European competitions due to multi-ownership issues, but the Eagles might avoid sanctions as the root cause could soon be resolved.

Details: According to The Athletic, John Textor, who owns 43% of the club's shares, has reached an agreement to sell his stake to American billionaire Woody Johnson, the owner of the NFL's New York Jets.

The deal still needs to be approved by the Premier League, but the process could be expedited since Johnson has owned the American franchise for a quarter of a century. This could also pave the way for Crystal Palace to participate in the Europa League. UEFA will take into account the fact that the sale process began last year.

Reminder: In the upcoming Conference League season, Irish side Drogheda has already been excluded from the participant list, and similar issues to those facing Crystal Palace have also arisen for Slovak club DAC 1904. Although DAC 1904 has been drawn an opponent for the second qualifying round of the competition, their participation has not yet been confirmed.