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Palace potentially denied entry to Europa League?

DANGERCLOSE said:
More trouble for Textor

A club owned by John Textor, the Crystal Palace co-owner whose multi-club ownership threatens to cost the FA Cup winners a place in Europe next season, is the subject of a complaint to Fifa by Burnley over an unpaid transfer fee.

www.thetimes.com

Crystal Palace co-owner John Textor’s other club accused over unpaid fees

Burnley claim Textor’s Brazilian side Botafogo still owe them for £6.5million transfer of Vitinho. Textor’s ties to Lyon could cost Palace their place in Europe
www.thetimes.com www.thetimes.com
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Perhaps I'm showing some desperation here, but Textor's issues with his other clubs might just illustrate the fact that Palace are not part of any multi club ownership. Molenbeek, Botafogo and and Lyon have all had problems and he is most certainly responsible for them
 
I don't like complicated situations. I am not into group shame. I blame Textor entirely, as he obviously has shares in many different clubs and so knows the rules.

It would pi55 me off no end, if Textor sold his shares for a significant profit to get Palace into Europe. The sheer financial incompetence of the guy makes Harry Redknapps dealings with HMRC look completely above board (which of course , Harry's tax returns are always spot on, and no suggestion of anything untowards ever happened , ever.)

How Textor looks in line to profit from his clueless investing, is just galling. And the other members of the Board having to cover his ass. t0553r
 
DANGERCLOSE said:
More trouble for Textor

A club owned by John Textor, the Crystal Palace co-owner whose multi-club ownership threatens to cost the FA Cup winners a place in Europe next season, is the subject of a complaint to Fifa by Burnley over an unpaid transfer fee.

www.thetimes.com

Crystal Palace co-owner John Textor’s other club accused over unpaid fees

Burnley claim Textor’s Brazilian side Botafogo still owe them for £6.5million transfer of Vitinho. Textor’s ties to Lyon could cost Palace their place in Europe
www.thetimes.com www.thetimes.com
Click to expand...
This made me wonder if the other shareholders could forcibly buy him out? I'm not sure on the full legality but I believe that if they all agreed, they could. Due to his disrepute.
 
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crvenaeagle said:
The Stones guy??
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Yeah, that would be a great gig. The Stones and the Eagles playing Selhurst Stadium.

Good point though, plenty of multi-millionaire, so called celebrity Palace fans who could dip into their coffers to help out their club.

I never used to be fussed about Textor spending his money here, but now I just want to see him gone.
 
The trouble is Textor clearly had a hand in the careers of Luke Plange and Jake O Brian. O Brian we sold to Lyon for £1M, having had a cracking loan at RWD Molenbeek (Textor owned) and on the verge of the first team. At the time Lyon (Textor owned) are 50M euros in debt and to be relegated if the debt wasn’t repaid by the end of the 24/25 season. A year later O Brian is sold to Everton for 19.5M euros!!!!
 
Palace Old Geezer said:
Yeah, that would be a great gig. The Stones and the Eagles playing Selhurst Stadium.

Good point though, plenty of multi-millionaire, so called celebrity Palace fans who could dip into their coffers to help out their club.

I never used to be fussed about Textor spending his money here, but now I just want to see him gone.
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The issue these days is you need billionaires. In fairness, we have them. But you also need billionaires who don't mind spending money. We don't have them. I don't know the figures but my guess is our biggest recent benefactor was Textor. Doesn't mean I still want him around however. My guess is he hasn't been able to ruin our club due to our other board members. But he seems to be ruining his other teams. Lyon sound like a shambles who have to sell everyone to stay afloat.
 
ASCPFC said:
The issue these days is you need billionaires. In fairness, we have them. But you also need billionaires who don't mind spending money. We don't have them. I don't know the figures but my guess is our biggest recent benefactor was Textor. Doesn't mean I still want him around however. My guess is he hasn't been able to ruin our club due to our other board members. But he seems to be ruining his other teams. Lyon sound like a shambles who have to sell everyone to stay afloat.
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Yes, I understand your points entirely AS. I think I was fantasising on this rather dull Wednesday morning. Oh look, just as I typed those words the sun came out. I'm off.
 
FinchleyEagle said:
I think saying 'we'd just beaten Doncaster, or 12th in the league, or just played Millwall, why would anyone think it means we'd qualify for Europe and sort out the shares issue' is missing the point entirely.

There was clearly a desire to try and win the FA Cup, for many obvious reasons, one of them being the European qualification.

If, as an organisation, you have a stated goal (such as european qualification), then you perform due diligence on what you need in order to be successful. This is basic project management at any organisation. No one who wants to keep their job goes at it half-arsed with the caveat 'it probably won't happen'.

This appears to be what happened though. Or some boardroom nonsense that hasn't been revealed.

Either way, poor show.
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Yeah sorry but thats rubbish. If it did no harm at all to put Textor's shares in a blind trust I might agree with you. The fact in doing that makes it virtually impossible to sell those shares (something Textor has been trying to do for 2 years) he's not going to do that on a hunch that 1.we might qualify for Europe. 2. We might qualify for Europe in the same competition as Lyon. 3. We might qualify for Europe in the same competition as Lyon and they avoid all sanctions and punishments of their own meaning they are actually allowed to compete. And 4. He is advised by his lawyers that UEFA's rulebook is so vague in its wording that he doesn't believe he is in breach of the rules and feels it could easily be challenged in court if necessary because the wording is not specific.
Finally, Even if Parish, Blitzer and Harris at that point wanted Textor to place his shares in a blind trust they have no power to do so.
Imagine you are Textor and you're sharing a cake with Harris, Blitzer and Parish. the other 3 eat their piece but ask you to put yours in the fridge. Why should you do what they ask? Its YOUR piece of cake not theirs.
 
Eaglecoops said:
Surely, the only way to satisfy the UEFA requirements was to get Textor to put his shares into a blind trust.

Why would Textor do this when there was firstly a low chance of Palace qualifying for the same tournament as Lyon and secondly why would he do it when he is wanting supposedly to sell those shares. There is also the fact that Parish cannot force him to do something with his shares that he doesn’t want to do.

To be honest, the big mistake in all this is allowing him and his dodgy dealings anywhere near Palace in the first place however we needed the money at the time and maybe Parish’s hands were tied at the time.

Personally, I’ve never thought Textor was a good fit with our club.
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No one has/had any power to force Textor to do that!
 
NEILLO said:
In answer to the question “ can I sell my shares if placed in a Blind Trust “ this was what I found ;

“ No, if your shares are held within a blind trust, you generally cannot sell them directly yourself. In a blind trust, the beneficiary (you) loses direct control over investment decisions, and the trustee manages the assets. The trustee makes all decisions, including buying and selling, without consulting you or any other information about the company or trust's activities. “
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It is possible to sell while frozen or in a blind trust but you would have to recruit an agent to act on your behalf and would be allowed no involvment in the sale. Plus the buyer can do nothing with those shares until they are un frozen or taken out of trust. This makes them temporarily worthless therefore you would seriously struggle to find a buyer.
 
Davepalace707 said:
No doubt and if they wanted us out they would have done so already. Up to us to sort it the clock is ticking
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you are probaby correct Eagle. And i sincerely hope so too. As enumerated above, there is previous history of rules being a bit negotiable, especially in a retrospective manner. Remember when Liverpool won the CL but failed to finish in the Prem top four ? thus ineligible to enter the next years CL to defend their title......rules got moved about. Happens all the time.

Nottm Forest can listen to their albums of Carmina Burana and FeckOrff
 
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est1905 said:
It is possible to sell while frozen or in a blind trust but you would have to recruit an agent to act on your behalf and would be allowed no involvment in the sale. Plus the buyer can do nothing with those shares until they are un frozen or taken out of trust. This makes them temporarily worthless therefore you would seriously struggle to find a buyer.
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The whole point of a blind trust is that is free to operate including trading assets of the sponsor/Textor. It must operate outwith any knowledge or influence from the sponsor. Politicians use them when they are aware of potential conflicts of interest.
 
Uefa are working the Palace to find a solution.

Uefa are waiting until the brown envelop has reached adequate size, before announcing Palace to play in Europe.
 
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