If anyone is interested in any further reading of the previous case law:
https://arbitrationlaw.com/library/arbitration-cas-98200-aek-athens-and-sk-slavia-prague-union-european-football-associations
The main difference is here:
"Red Bull bought Austria Salzburg in 2005, renaming it, but following a restructuring it no longer has a controlling stake and merely sponsors the club."
I suspect article 5 may be a problem.
a. no club participating in a Uefa club competition may, either directly...