Billionaire businessman Woody Johnson, best known as the owner of the NFL’s New York Jets and a former U.S. ambassador to the UK, has completed a significant acquisition that may bolster Crystal Palace Football Club’s ambitions for European competition. Johnson has purchased John Textor’s 43 percent holding in the club for more than £190 million. This latest round of investment values Crystal Palace at over £400 million.
Johnson has been brokering this deal with Textor and Palace chairman Steve Parish for the past few weeks. This transfer has the long-term goal of making the club more competitive in domestic and international football. Well, Crystal Palace has got to be in the running! With all the requirements of the UEFA Europa League potentially having been ticked off the list, the club would be making history with participation.
Details of the Acquisition
Crystal Palace Football Club confirmed the acquisition in an official statement, stating, “Robert Wood Johnson, ‘Woody’, an American businessman and co-owner of the New York Jets, has signed a legally binding contract to purchase Eagle Football’s holding in the Club.” This acquisition is just the beginning of a new chapter for the club. It’s an early indication of Johnson’s long-term vision.
As it stands, the deal awaiting approval from the Premier League and Women’s Super League. Crystal Palace is confident that it will all go according to plan. The statement added, “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.”
Johnson’s extensive experience as a businessman and his diplomatic background are expected to facilitate a smooth passage through the Premier League’s Owners’ and Directors’ Test, which assesses potential owners for suitability and financial stability.
Implications for Europa League Participation
Crystal Palace’s ownership transition arrives during a watershed moment for the team. The club, like most of the other participants, will be making its debut in the UEFA Europa League proper. This is on the heels of dominating the domestic league. A recent decision from UEFA confirmed that clubs earning their place in European competitions should be allowed to compete, paving the way for Crystal Palace’s entry.
The club has recently conveyed a bullish attitude about its ability to play in next season’s Europa League. They are the first-ever team to have met UEFA’s criteria for qualification. A decision on regularizing their inclusion in the tournament is due within days, and the tournament draw itself will occur in August. This step would tremendously raise the club’s stature worldwide and open up new streams of revenue through European competition.
Looking Ahead
Woody Johnson is now co-owner at Crystal Palace. At least on the pitch, many of those fans are excited about their club’s future with his leadership — inspiring — at the helm. His experience in managing high-profile sports franchises could translate into strategic advancements for Palace, both on and off the pitch.
John Textor, who previously held a substantial stake in the club, has expressed gratitude for his time at Crystal Palace. In parting, he remarked, “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.” This feeling is indicative of a fairly seamless transition as Johnson settles into his new role.
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