Jets owner Woody Johnson buys 43% stake in English soccer club Crystal Palace

Woody Johnson, the owner of the New York Jets, is making a move into the world of English soccer. Crystal Palace, a Premier League side, has confirmed that Johnson has signed a contract to purchase the shares of John Textor, another American who currently holds a 43% stake in the London club. The reported price for the acquisition falls between $220 million and $260 million.

The completion of the sale is still subject to approval from both the Premier League and the Women’s Super League, but Palace is optimistic that there will be no issues. In a statement released by the club, they expressed their excitement about welcoming Johnson as a partner and director. They also took the opportunity to thank Textor for his contributions over the past four years and wished him well in his future endeavors.

This move comes after Johnson tried and failed to purchase Chelsea in 2022. The sale of Textor’s shares is expected to bolster Palace’s chances of competing in the Europa League next season, following their FA Cup final victory over Manchester City. However, there were concerns that Palace could miss out on the opportunity due to Textor’s ownership in French club Lyon, which is also set to participate in the same competition. Under UEFA’s multi-club ownership rules, it appeared as though Palace may have been at a disadvantage.

This development marks an exciting new chapter for Crystal Palace and for Woody Johnson as he expands his sports empire into the realm of English soccer. With the necessary approvals in place, fans can look forward to seeing how Johnson’s involvement will shape the future of the club on and off the field.

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