LONDON — Woody Johnson, the owner of NFL’s New York Jets, is on the verge of acquiring a majority stake in a prestigious English soccer team. Premier League club Crystal Palace confirmed on Monday that Johnson is set to purchase the shares of John Textor, an American entrepreneur who presently holds a 43% share in the London-based football club.
The anticipated transaction, which is expected to be valued at somewhere between $220 million and $260 million, is pending approval from both the Premier League and the Women’s Super League. Officials at Crystal Palace have expressed confidence that there will be no obstacles to the completion of the sale. “We do not anticipate any issues and are looking forward to welcoming Woody as a partner and director of the club,” the club said in a formal announcement.
Moreover, the club offered its gratitude to John Textor for his investment and efforts over the past four years, extending best wishes for his future endeavors. Johnson’s foray into English football follows a previous unsuccessful bid to purchase Chelsea FC in 2022.
Textor’s exit from Crystal Palace and the subsequent acquisition by Johnson could positively impact the club’s prospects in European competition. Crystal Palace is set to compete in the Europa League next season, a qualification secured by their recent FA Cup triumph over Manchester City. This was put at risk due to Textor’s investment in the French club Lyon, also participating in the same tournament, as UEFA’s multi-club ownership rules could have disqualified Palace.
Although Textor is stepping down, club co-owner Steve Parish will stay on as chairman and maintain overall control of the football operations. Along with Josh Harris and David Blitzer, fellow Americans, Parish will continue his leadership role at Crystal Palace, ensuring continuity in the club’s long-term vision and strategy.