Pope Honorius III dies. He was already old and in poor health when elected pope, though he managed to hang on and rule for 10 years. He planned a massive Fifth Crusade and while large sums were collected for it, he still couldn't get enough to pay for everything he wanted.
Complicating matters further was Frederick II whom he crowned Holy Roman Emperor on the condition that he participate in the Fifth Crusade. Frederick, however, didn't really want to because he preferred staying in Italy and consolidating his control over land there.