Woody Johnson, New York Jets owner, buys 43% stake in Premier League club Crystal Palace
New York Jets
owner
Robert Wood Johnson
, popularly know as 'Woody', is on the verge of entering English football, with
Premier League
side
Crystal Palace
confirming Monday that Johnson has signed a legally binding agreement to acquire fellow American
John Textor
's 43% stake in the club.
The deal, reported to be valued between $220 million and $260 million, is pending approval from the Premier League and Women's Super League, but Palace stated they foresee no obstacles.
"Whilst the completion is pending approval. We do not envisage any issues and look forward to welcoming Woody as a partner and director of the club," Palace said in a statement.
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— CPFC (@CPFC)
"We would like to go on record to thank John Textor for his contribution over the past four years and wish him every success for the future."
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Johnson, who previously attempted to buy
Chelsea
in 2022, now succeeds in making his mark in English football.
The timing of the deal is significant for Palace, who recently qualified for next season's
UEFA Europa League
following their
FA Cup
final triumph over Manchester City.
Textor's dual ownership interests, particularly his stake in French club Lyon - which also qualified for the Europa League - posed a potential conflict under UEFA's multi-club ownership rules.
Johnson's acquisition helps resolve that issue and clears Palace's path to European competition, further solidifying the club's ambitions on and off the pitch.
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