Woody Johnson, owner of the New York Jets, has agreed a £190 million deal to buy John Textor's 44.9% stake in Crystal Palace. The sale, signed on Sunday evening in the US, is expected to be ratified by the Premier League within four weeks, pending approval of the owners' and directors' test.
The move could boost Palace's hopes of playing in the Europa League next season. Uefa has pressured the club to comply with regulations on multiclub ownership, as Textor also holds a majority stake in Lyon, who have also qualified for the competition. Palace's other co-owners, including chair Steve Parish, have urged Textor to complete the sale quickly.
Johnson, 78, previously missed out on buying Chelsea in 2022 after making a $2 billion offer. It remains unclear whether he seeks a full takeover, as co-owners Josh Harris and David Blitzer are reportedly willing to sell due to concerns over rising costs for a new main stand, which could reach £240 million.
Textor, who invested about £180 million in Palace since 2021, was reluctant to leave but had a falling-out with Parish over resistance to his Eagle Football network. He is now expected to target another English club, with former Palace owner Simon Jordan recommending Sheffield Wednesday. Textor previously failed in attempts to buy Everton and held talks with Watford's owner.
