Crystal Palace’s hopes of playing in Europe next season appear to have been boosted after shareholder John Textor sold his stake in the club to New York Jets owner Woody Johnson.
Textor’s shares in Palace threatened to be an obstacle to their participation in the Europa League next season because the American is a shareholder in French side Lyon, who are set to enter the same competition.
Under UEFA’s multi-club ownership rules, it looked as though Palace could miss out.
However, Textor’s 43 per cent stake in the London club has now been sold to Johnson in a deal worth more than £190m and values Palace at more than £400m.
A Crystal Palace statement said: “Crystal Palace Football Club can confirm that Robert Wood Johnson, “Woody”, an American businessman and co-owner of the New York Jets, has signed a legally binding contract to purchase Eagle Football’s holding in the Club.
“Whilst the completion is pending approval from the Premier League and Women’s Super League, we do not envisage any issues and look forward to welcoming Woody as a partner and director of the club.
“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.”
John Textor has sold his shares in Palace
The sale is subject to Premier League and WSL approval, but may now free Palace up to play in the Europa League.
The Eagles qualified for the competition thanks to their FA Cup final victory over Manchester City.
A decision is expected within days that Palace will take their place in Europa League for first time in their history with the draw in August.
Textor, who through his Eagle Football Holdings group also owns a significant stake in Botafogo, who are the current Brazilian and South American champions, initially invested in Palace in 2021.
Woody Johnson is the billionaire owner of New York Jets and a former US ambassador to the UK
Johnson has been in talks with Textor and Palace chairman Steve Parish for several weeks.
He is the billionaire owner of New York Jets and a former US ambassador to UK and has tried to buy a Premier League club before, with interest in West Ham and Chelsea.
Textor and Eagle Football, who also own Belgium’s RWD Molenbeek, will now try to buy another English club.
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Comedian and Crystal Palace fan Kevin Day questioned whether John Textor selling his stake to New York Jets owner Woody Johnson is good for the club.
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