Robert Wood ‘Woody’ Johnson, co-owner of the New York Jets and former U.S. ambassador to the United Kingdom, has signed a legally binding agreement to acquire a 43% stake in Premier League club Crystal Palace.
The stake is being purchased from Eagle Football Holdings, a multi-club ownership group led by American businessman John Textor.
The deal, reported by British media to be worth nearly £190 million ($254.39 million), is subject to approval from the Premier League and the Women’s Super League.
In a statement on Monday, Crystal Palace confirmed the development, “Whilst the completion is pending approval from the Premier League and Women’s Super League, we do not envisage any issues and look forward to welcoming Woody as a partner and director of the club.”
The 78-year-old Johnson is a member of the family that founded pharmaceutical giant Johnson & Johnson. Once finalized, he will assume the role of partner and director at the South London-based club.
This acquisition addresses a pressing concern for Palace regarding their qualification for next season’s UEFA Europa League.
Previously, a potential conflict of interest arose due to Textor’s simultaneous ownership stake in Olympique Lyonnais, who also qualified for the competition. UEFA regulations prohibit clubs under shared ownership from participating in the same European tournament.
Crystal Palace extended their appreciation to the outgoing stakeholder, “We would like to go on record to thank John Textor for his contribution over the past four years and wish him every success for the future.”
Textor had acquired his stake in the club for around £90 million in August 2021.
