Woody Johnson, Jets owner, buys shares in Crystal Palace

Woody Johnson, owner of the New York Jets, invests in Crystal Palace

The owner of the New York Jets, Woody Johnson, has reached an agreement to acquire a 43% stake in Crystal Palace of the Premier League. The investment amounts to 190 million pounds sterling (254 million dollars) and is made with the American businessman John Textor. The announcement was made by the club last Monday. This agreement is subject to Premier League approval and to Johnson, former US ambassador to the UK, passing the “Owners and Directors’ Test”, also known as the “Fit and Proper Persons Test”.

While the completion is pending approval from the Premier League and the Women’s Super League, we do not foresee any problems and look forward to welcoming Woody as a partner and director of the club.

Crystal Palace Statement

Crystal Palace also expressed its gratitude to John Textor for his contribution over the past four years and wished him success in the future.

The approval of this agreement would allow Palace, winner of the 2024-25 FA Cup, to participate in the next season of the UEFA Europa League. Furthermore, it would resolve the possible breach of multi-club ownership rules because Textor’s Eagle Football Holdings group has a majority stake in the French club Lyon. The Palace has not yet been authorized to play in the Europa League due to ongoing negotiations with UEFA. Textor tried to get rid of his shares in Palace, and Johnson emerged as the main candidate to buy his stake. Johnson, 78, was the United States ambassador to the United Kingdom between 2017 and 2021. Previously, he tried to buy Chelsea, but was unsuccessful.