Crystal Palace look set to avoid UEFA complications and take their place in next season’s Europa League, as a billionaire NFL owner has struck a deal to buy John Textor’s stake in the club.
The New York Jets owner has agreed to purchase a 44.9% shareholding for around £190m, with the sale expected to be approved by the Premier League within weeks.
Woody Johnson, 78, is best known in the UK for his time as US ambassador and his failed 2022 bid to buy Chelsea.
His time with the Jets has been marked by a lack of success on the field, as the franchise hasn’t reached the play-offs in 14 seasons, the longest active drought in the NFL. However, Johnson has remained a high-profile and outspoken owner.
He now steps into the frame at Selhurst Park as Palace look to resolve the multi-club ownership issues that had placed their European status in doubt.
Textor, through his Eagle Football Holdings group, also controls French club Lyon, who, like Palace, have qualified for the Europa League. Under UEFA’s rules, clubs with shared ownership structures can’t both compete in the same European competition if there’s deemed to be significant influence from a single party.
That issue came to a head this month, with Palace officials, including Textor and chairman Steve Parish, flying to UEFA HQ in Switzerland to argue that Textor didn’t wield enough control to trigger any breach. He owned nearly 45% of Palace but just 25% of the voting rights, with UEFA accepting their argument.
MORE ON CRYSTAL PALACE ON F365…
👉 Defender ‘wants to join Liverpool’ from Premier League rivals as champions prepare bid 👉 Transfer rumour power ranking: Arsenal signing imminent, winger linked with Euro giants
👉 Liverpool plan ‘significant offer’ for Crystal Palace star with Reds ‘best positioned’ for transfer
Although the governing body responded positively to the club’s case, Johnson’s arrival is expected to eliminate any lingering uncertainty.
The structure of ownership will remain unchanged in terms of power. Johnson will take on Textor’s share but will only hold a quarter of the club’s voting rights, alongside Parish, and fellow American investors Josh Harris and David Blitzer.
Blitzer’s ownership of Danish side Brøndby was another factor that complicated Palace’s UEFA standing, but the situation now appears to be under control, pending final confirmation.
A decision from UEFA is expected before the end of the month.
Textor had hoped to gain full control of Palace last year but was met with resistance from Parish and other board members over his plans to integrate the club into his wider Eagle Football network, which also includes Botafogo and Belgian side Daring Brussels.
He is now expected to turn his attention elsewhere, with previous interest in Everton and Watford already on record. Former Palace owner Simon Jordan revealed this week he suggested Textor consider a move for Sheffield Wednesday, who are currently under a transfer ban.
As for Johnson, he brings both wealth and ambition, but Palace fans will be more interested in securing their return to European football and avoiding any last-minute UEFA twists.