Woody Johnson, owner of the National Football League’s New York Jets and former U.S. ambassador to the United Kingdom. He’s recently agreed to buy a 43% share of English Premier League side Crystal Palace from John Textor in a deal worth £190 million (approximately $254 million). This significant acquisition marks a major development in the club’s future, particularly as it navigates ownership regulations within UEFA competitions.
John Textor, American entrepreneur Pictures, then, spent four years on the Crystal Palace rollercoaster. He will be stepping down and no longer managing the club’s day-to-day affairs. His existing team—the Crystal Palace Eagles—are now jointly owned by chairman Steve Parish and U.S. investors Josh Harris and David Blitzer. Johnson’s acquisition will eliminate any potential breaches of UEFA’s multiclub ownership rules, which prohibit teams with shared ownership from competing in the same tournaments unless certain conditions, such as placing shares in a blind trust, are met.
Textor’s Eagle Football Holdings Group owns a controlling stake in French club Lyon. His sale of shares to Johnson may well lead to Crystal Palace’s first ever qualification for next season’s UEFA Europa League. This strategic shift would dramatically increase the club’s competitive stature in European football. The club is widely considered a dark horse for the 2024-25 FA Cup crown.
The sale is not final and is subject to approval or non-approval by the Premier League. Crystal Palace expressed optimism regarding the approval process, stating, “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.”
This is not the first controversy to make Woody Johnson’s ownership in football unique. He lost a previous attempt to buy Chelsea in 2022. Even with this setback, we applaud Johnson for publicly announcing his support for Chelsea. This brings an interesting angle to his new role with Crystal Palace.
In a nod to Textor’s contributions during his tenure, Crystal Palace acknowledged his efforts: “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.”
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