John Textor Sells His Stake in Crystal Palace for £190 Million as Woody Johnson Acquires Share — A Boost for Europa League Ambitions

John Textor has finalized the sale of his 43% ownership stake in Crystal Palace to Woody Johnson, owner of the New York Jets. This strategic move is expected to facilitate Palace’s participation in European competitions next season.

Textor’s Eagle Football Holdings previously held a significant share in the club, which recently secured its first-ever qualification for the Europa League after winning the FA Cup. However, concerns over UEFA regulations regarding multi-club ownership, especially with Textor’s involvement in French side Lyon, threatened Palace’s European plans.

Earlier this month, Palace executives, including Textor, traveled to Switzerland for a crucial summit with UEFA representatives. They aimed to demonstrate that, with only 25% voting rights, Textor did not possess undue influence over the club’s decisions. Outside the meeting, Textor indicated that he was in the process of selling his stake, with Johnson emerging as a leading candidate to acquire the shares.

The successful deal, valued at around £190 million, is now pending approval from the Premier League. Once approved, Johnson, a long-time owner of the Jets since 2000, will hold a 43% stake in Crystal Palace. Despite significant ownership, Johnson’s voting rights will be limited to 25%, aligning with the structure of other major stakeholders, including chairman Steve Parish and US investors.

Johnson, an heir to the Johnson & Johnson empire and a prominent Republican donor, is estimated to be worth approximately £7.38 billion. He previously attempted to purchase Chelsea in 2022 but was unsuccessful. Known for his philanthropy—particularly in medical research—and for donations to Ukraine through the Jets, Johnson has close ties to political and business figures in the US.

With this ownership transition, Palace hopes to secure their European future, potentially avoiding UEFA sanctions linked to multi-club ownership issues. A final ruling from UEFA is anticipated by the end of the month, which could solidify Palace’s status in the Europa League.