New York Jets owner Woody Johnson has signed a deal to buy John Textor’s 43% stake in Crystal Palace football club for approximately £190m. The Premier League and Women’s Super League have yet to approve the transaction, but sources close to the process indicate that no issues are expected.
The acquisition comes after Eagle Football Holdings, owned by Textor, bought a stake in Palace in 2021 for around £90m. However, this has raised concerns among UEFA over multi-club ownership structures and potential breaches of their rules.
UEFA has been considering whether Palace’s involvement in the Europa League is at risk due to Textor’s ownership of Lyon, another club competing in European competitions. If approved, Johnson’s takeover could provide a boost to Palace’s bid to play in next season’s Europa League.
Johnson, 78, is a wealthy businessman with an estimated net worth of £6.8bn and has experience in sports ownership through his New York Jets deal in 2000. He has already spoken with current Palace chairman Steve Parish, who is hopeful that the Premier League will approve the takeover as a formality given Johnson’s public profile.
A decision on whether Palace can participate in the Europa League by the end of June could have implications for other clubs, including Nottingham Forest, which has altered its ownership structure to comply with UEFA’s rules.
Source: https://www.bbc.com/sport/football/articles/clyl2dzyvr4o