'Be very careful': Powerful owner's warning as Crystal Palace's demotion from the Europa League confirmed
Crystal Palace's Europa League ambitions have been ripped away following an unsuccessful appeal with the Court of Arbitration of Sport (CAS).
Palace have been demoted from the Europa League to the UEFA Conference League this season. Nottingham Forest will instead enter the competition.
The club lodged an appeal regarding the involvement of American businessman John Textor, who holds a 43 per cent stake in Palace and is also a majority owner of Lyon.
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Palace's FA Cup victory secured them qualification into the Europa League but on that same day Lyon cemented a sixth place finish in Ligue 1 to also gain entry.
Under UEFA's rules, clubs owned by the same person or entity cannot compete in the same European tournament.
Marc Guehi of Crystal Palace looks on. Getty
The decision regarding which club would be demoted came down to the respective league positioning at the end of last season, with Lyon finishing sixth in France and Palace 12th in the Premier League.
Palace were informed of their demotion just one day after defeating reigning Premier League champions Liverpool in the Community Shield.
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The regulations around mutli-club ownership have been heavily debated in recent months as many continue to call for clarity and tighter restrictions on the matter.
Daniel Levy, chairman of Tottenham Hotspur, warned footballing authorities of the risks that come with multi-club ownership when speaking to Gary Neville on The Overlap.
"I think we have to be very careful," Levy said of multi-club ownership.
"I'd say we are going through a period of significant change. We're also entering a new phase of government intervention and regulation.
"Personally, I'm not in favour of that, but it's coming and we have to accept and embrace it.
Crystal Palace's Marc Guehi lifts the shield with teammates following victory in the FA Community Shield. PA Images via Getty Images
"Sustainability is absolutely fundamental to the long-term health of the game across the entire football pyramid. One of the biggest issues right now is multi-club ownership, which barely existed five years ago but is now becoming far more prevalent.
"When a single ownership group is involved in multiple clubs, and with the kind of money in the game today, there needs to be strict oversight.
"We have financial control measures and it can be abused. It worries me a little bit because I think there is so much money in the game now and you only need one owner to do something inappropriate and it would impact the whole confidence from sponsors and broadcasters in the European game.
"So I think it needs very tight control."
A warning was issued to the Premier League and English Football League that they have less than 18 months to come to agree on a deal regarding financial redistribution.
But as it stands, little progress has seemingly been made.
"The Premier League would want to do a deal tomorrow with the EFL," continued Levy.
"The issue is the EFL doesn't want to do a deal with us because there is not an agreement with the executive of the EFL and the clubs within the EFL.
"But I can assure you, the Premier League would do a deal today."
