Palace were demoted to Europe’s third-tier club competition by UEFA's Club Financial Control Body in a multi-club ownership case, with John Textor also majority owner of Lyon.
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Textor has since sold his 43% stake in Crystal Palace to Woody Johnson, the owner of the New York Jets, in a deal worth over £190 million.
A closed-door hearing in the case of Crystal Palace vs UEFA will now be held on August 8th, with the verdict expected to be announced on the 11th.
Nottingham Forest, who finished seventh in the Premier League last season, will replace the FA Cup winners if the appeal is rejected.