Crystal Palace Owner Sells Stake to Jets Boss

New York Jets Owner Purchases Stake in Crystal Palace

New York Jets owner Woody Johnson has signed a legally binding contract to acquire a 43% stake in Crystal Palace, valued at approximately £190 million. The English football club confirmed the deal on Monday.

The agreement is subject to approval from both the Premier League and Women's Super League. Palace expressed optimism that the transaction would be finalized without significant obstacles.

John Textor, the current owner of Crystal Palace, had previously invested £90 million in the club in 2021. Johnson's investment follows a controversy involving Textor's ownership of both Crystal Palace and French club Lyon, both of which qualified for the Europa League next season.

UEFA has raised concerns about clubs under multiple ownership structures competing in the same European competition. If Palace is deemed to have violated these regulations, they could lose their Europa League spot earned through their FA Cup victory in the previous season.

Johnson's wealth and ability to transfer funds quickly reportedly influenced his successful bid, which outpaced other potential investors. The final decision on Palace's Europa League participation is expected to be made by UEFA by the end of June.