Six-time NBA All-Star and Olympic gold medallist Jimmy Butler is part of a consortium in talks to buy out John Textor and save Crystal Palace from exclusion from the Europa League. After winning the FA Cup, Palace seemed set to make their European debut.
However, concerns over their participation arose due to Textor's 43 per cent stake in the Premier League side through his Eagle Football vehicle. This group also holds a majority stake in French side Lyon, potentially conflicting with UEFA's rules on multi-club ownership. These regulations prevent teams from multi-club groups competing in the same tournament.
The deadline to resolve any multi-club ownership issues passed on March 1, coinciding with Palace's victory over Millwall in the fifth round of the FA Cup. Meanwhile, Lyon secured their place in the Europa League by finishing sixth in Ligue 1.
As they finished higher in their league, Lyon takes precedence over Palace for participation in the Europa League. Textor had hoped to be bought out by one of Palace's other investors, but it now appears he will be selling to an external consortium.
According to The Athletic, the consortium is led by former Morgan Stanley sports executive Bejan Esmaili and ex-Roc Nation attorney Wajid Mir, and includes Golden States Warrior star Butler.
A bid exceeding £150m is on the cards for the 43 per cent stake Eagle Football currently holds in Palace. Discussions with Textor have already taken place, but they face competition from Woody Johnson, owner of the New York Jets.
Johnson, a former American ambassador to the UK, has presided over a dismal period for the Jets, who haven't made it to the NFL's playoffs for 14 years, twice as long as any other team in the league.
Although Johnson has put forward an offer for Textor's shares, he hasn't yet met his fellow American's valuation. Textor is one of four main shareholders in Palace, alongside Josh Harris, owner of the NFL's Washington Commanders, David Blitzer, controller of the NBA's Philadelphia 76ers, and Steve Parish, Palace chairman and the club's public face.
Despite Textor's hopes of being bought out by these three, no deal has been struck. They've been approached by Textor, but their proposal reportedly fell short of acceptance.
Last week, Palace's four shareholders met with UEFA to argue that Textor doesn't wield control or influence at Palace. Any deal for his shares will need Premier League approval.
It's still uncertain whether UEFA would be satisfied with a binding agreement for Eagle to sell its stake, or if any deal could reach that stage before the committee makes its decision. Back in May, Textor revealed his plans to sell.
According to him: "We've reached the point where we have a significant investment in a club we hold in the minority (in Palace),
"We're having extreme success in Brazil and early on in France, (and) to not have that same level of integration with our partner in the UK... it just becomes more and more clear that that level of collaboration we want and need works."