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 the Premier League team, Crystal Palace. The transaction, valued at 190 million pounds (254 million dollars), was finalized with the American businessman John Textor, as announced by the club on Monday. This agreement is subject to Premier League approval. Johnson, who was previously the United States ambassador to the United Kingdom, will have to pass the league’s “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

Crystal Palace 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 by the Premier League would allow Palace, winner of the 2024-25 FA Cup, to participate in the next season of the UEFA Europa League. In addition, it would resolve the possible violation of the multiple club ownership rules due to Textor’s participation through his Eagle Football Holdings Group, which also controls the French club Lyon. The Crystal 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, with Johnson emerging as the main candidate to acquire his stake. Johnson, 78, was the United States ambassador to the United Kingdom between 2017 and 2021. Previously, he tried to buy Chelsea after the UK government sanctioned the previous owner, Russian oligarch Roman Abramovich.