John Textor Sells Crystal Palace Stake for £190 Million as Woody Johnson Takes Over

John Textor has divested his shares in Crystal Palace, selling his 43% stake to Woody Johnson, owner of the New York Jets. The transaction, valued at approximately £190 million, is pending approval from the Premier League and is seen as a move that could secure Palace’s participation in next season’s Europa League.

Textor’s ownership had previously cast doubt on Palace’s European prospects due to his stakes in French club Lyon and potential conflicts with UEFA regulations concerning multi-club ownership. Recently, Palace executives, including Textor, traveled to Switzerland for talks with UEFA officials to clarify that his voting rights were limited to 25%, aiming to prevent any sanctions that might affect their European eligibility.

Following the sale, Johnson, an heir to the Johnson & Johnson fortune, and known for his political connections and philanthropy, is expected to have a limited role in club decision-making, holding only a quarter of the voting rights despite owning 43%. This arrangement aligns with that of Textor’s, who also maintains a minority voting stake.

The significance of this deal lies in its potential to preserve Palace’s Europa League status, with UEFA expected to make a decision by the end of the month. Johnson has previously attempted to buy Chelsea in 2022 and is a known supporter of Donald Trump. He has owned the Jets since 2000, though their performance has been disappointing in recent years.

John Textor’s sale of his stake might open the door for Crystal Palace to compete in the Europa League next season.

Woody Johnson has secured a £190 million deal for a significant share in Crystal Palace.

The club’s Europa League ambitions are possibly restored following the ownership change, despite previous concerns over multi-club rules.