In a significant development for Crystal Palace’s European ambitions, New York Jets owner Woody Johnson has signed a legally binding contract to purchase John Textor’s 43% stake in the Premier League club. The deal, reportedly worth close to £190 million, was confirmed by Palace on Monday, June 23, 2025, and is pending approval from both the Premier League and the Women’s Super League.
This sale marks a pivotal moment for Palace, who qualified for the UEFA Europa League next season by winning the FA Cup last season. Their participation in the continental competition had been under threat due to UEFA’s strict multi-club ownership rules. Textor, through his Eagle Football Holdings, also holds a significant stake in French Ligue 1 side Lyon, who have likewise qualified for the Europa League. UEFA regulations prohibit investors from owning stakes in multiple clubs competing in the same European tournament to avoid conflicts of interest and potential collusion.
Palace’s failure to restructure ownership before UEFA’s March 1 deadline put their European status in jeopardy. However, the sale to Johnson is seen as a crucial step toward compliance. Sources close to the club reveal that Johnson’s ability to transfer funds quickly was a decisive factor in his offer being favored over two other interested parties, given the urgency of Palace’s situation.
Johnson, 78, is a well-known American businessman and philanthropist. He has owned the New York Jets since 2000, after acquiring the NFL franchise for $635 million. His financial stature is impressive, with the Bloomberg Billionaires Index estimating his wealth at around £6.8 billion ($9.18 billion) in 2024. He is also a former U.S. ambassador to the United Kingdom, serving from 2017 to 2021, and is an heir to the Johnson & Johnson pharmaceutical fortune. Notably, Johnson is a Republican donor and a close friend and financial backer of former U.S. President Donald Trump.
Crystal Palace’s chairman, Steve Parish, and co-owners Josh Harris and David Blitzer, who collectively hold a significant share in the club, have reportedly urged Textor to complete the sale swiftly. Textor’s tenure at Palace, which began in 2021 when Eagle Football Holdings invested around £90 million for a 40% stake, has been marked by disagreements, especially over the direction of the club and the integration of Eagle’s multi-club football network. Textor himself expressed frustration over Palace’s reluctance to collaborate fully with his broader football project, which includes clubs in Brazil and Belgium.
"I believe Eagle is probably known to be the most collaborative multi-club in terms of the player movements between the clubs," Textor told The Athletic. He lamented the lack of reciprocal collaboration at Palace, stating, "It has disappointed me that our English league partner has chosen not to accept any of our obviously qualified players from top teams, top leagues, and top national teams." This disconnect ultimately led to his decision to sell his stake.
While the sale to Johnson is expected to be ratified by the Premier League within approximately four weeks, the league’s owners’ and directors’ test remains a formality. Given Johnson’s extensive experience as a sports franchise owner and his public profile, the club remains optimistic about a smooth approval process.
Palace officials, including Textor, traveled to UEFA headquarters in Switzerland earlier this month to discuss the club’s situation. They argued that Textor, despite being the largest shareholder, did not exert decisive influence over the club, as his voting rights were limited to about 25%. This distinction is critical because UEFA’s rules focus on the level of control exerted rather than mere ownership percentage.
Johnson’s arrival is widely expected to resolve UEFA’s concerns, potentially securing Palace’s place in next season’s Europa League. UEFA’s final decision on Palace’s participation is anticipated by the end of June 2025. If approved, this will allow Palace to embark on their first continental campaign without the shadow of ownership conflicts.
The deal also signals the end of Textor’s four-year involvement with Crystal Palace. Following the sale, he is expected to focus on other football ventures, including potential acquisitions of Championship clubs in England. Textor had previously explored buying Everton and has been linked to interests in Sheffield Wednesday and Watford.
For now, the immediate impact on Palace’s day-to-day operations is expected to be minimal. Chairman Steve Parish remains the executive chairman with the casting vote, and it is unclear how involved Johnson will be in the club’s management. However, Johnson’s financial backing could prove vital, especially as Palace consider ambitious plans to redevelop their Selhurst Park stadium, with projected costs possibly reaching £240 million.
As the clock ticks down to UEFA’s verdict, the football world watches closely. The resolution of this ownership saga not only affects Palace’s European dreams but also highlights the complexities of modern football’s multi-club ownership structures and regulatory frameworks.
Whether Johnson’s entry will herald a new era of stability and growth at Selhurst Park remains to be seen. Still, for now, Palace fans can breathe a sigh of relief knowing that the club has taken a major step toward securing its place on the European stage next season.
