Woody Johnson, the New York Jets owner and Donald Trump ally, has edged into pole position to buy John Textor’s Crystal Palace stake.
Johnson is described by sources as being “well down the road” to securing a total deal worth upwards of £200 million to safeguard the club’s place in Europe.
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He emerged last week as one of three serious bids amid fast-moving negotiations to ensure Palace avoid potential expulsion from the Europa League.
Insiders say he is now the leading contender to finalise a deal with Textor, although two other late bids tabled are up to £20 million more than Johnson’s offer. Johnson’s offer to Textor is for his 43 per cent share plus a separate fee for his management control position at the club.
Raine Group, the New York broker which secured sales for Chelsea and Manchester United, had been in discussion with parties on behalf of Textor since last year.
Victoria's Secret model Jessica Hart, NY Jets owner Woody Johnson, and his wife Suzanne Ircha Johnson pose at a Jets match at MetLife Stadium on October 28, 2012
New York Jets owner Johnson has tabled a bid to buy 43 per cent of Crystal Palace - Getty Images/Michael Loccisano
However, Textor, who also owns European qualifiers Lyon, is now pursuing a quick transaction because of multi-club ownership concerns. Current co-owners, Josh Harris and David Blitzer, had also been sounded out about a deal, but Johnson appears to have overtaken all rivals.
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Johnson, 78, is viewed as a controversial figure in US sport, with the New York Jets facing scrutiny last year following reports of “controversial and dysfunctional practices” under his watch.
He bought the New York Jets in 2000, with the NFL franchise now estimated to be worth about $6.9 billion (£5.2 billion). The Jets’ $1.6 billion MetLife Stadium will host next year’s World Cup final.
Johnson is also well known in UK politics. The long-time Republican Party donor was appointed as US ambassador to the UK during Trump’s first term. His brother, Christopher, took over Jets operations during his post. The American businessman has long been interested in buying a Premier League club, having approached Raine about Chelsea in 2022.
Donald Trump (3R), Melania Trump (2R), Prince Charles (3L), his wife Camilla (2L), US Ambassador to Britain Woody Johnson (L) and his wife Suzanne Ircha pose for a photograph ahead of a dinner at Winfield House, the residence of the US Ambassador, where US President Trump is staying whilst in London, on June 4, 2019,
Johnson (far left) and his wife Suzanne Ircha (far right) host the then Prince of Wales and Duchess of Cornwall along with Donald and Melania Trump at the US ambassador’s residence in London in 2019 - Getty Images/Chris Jackson
Other suitors for Palace, meanwhile, are believed to include NBA player Jimmy Butler, part of a consortium of sport and entertainment executives. Another international consortium advised by the veteran football financier Keith Harris also previously expressed interest.
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Textor, who previously pursued an interest in buying Everton, is willing to find another club as soon as possible. Textor acquired his holding in Palace in 2021 for about £90 million. His multi-club network Eagle Football also includes French club Lyon, Rio-based Botafogo and RWD Molenbeek in Belgium. His priority is to pursue a club who can accept players across the group.
Crystal Palace co-owner John Textor (left) and chairman Steve Parish (right) celebrate Crystal Palace's FA Cup win
Crystal Palace co-owner John Textor (left) and chairman Steve Parish (right) celebrate the club’s FA Cup win - AP/Dave Shopland
Crystal Palace’s overall value is said to be about £500 million – around the same price that Everton were valued at, minus debt, during Farhad Moshiri’s protracted sale.
Chairman Steve Parish, Textor and his fellow US businessmen Harris and Blitzer oversee the running of the Selhurst Park club as general partners. However, Textor has repeatedly hinted at frustrations that he does not exert as much control as he would like.
Uefa is preparing to inform Palace whether they are in breach of its multi-club ownership rules by June 30 – although the matter may then be taken to the Court of Arbitration for Sport, which would delay a final verdict.