New York Jets owners Woody Johnson is set to buy a large stake in Crystal Palace - and that could be bad news for the club.
According to widespread reports, Crystal Palace minority shareholder John Textor has finally agreed the sale of his 43% stake in the club, with American billionaire Woody Johnson set to be the beneficiary of a deal worth nearly £190m, according to BBC Sport. It could put an end to uncertainty over Palace’s participation in Europe next season – but is it all good news?
Does John Textor selling his shares mean Crystal Palace can play in the Europa League?
UEFA is set to make a decision over whether Palace can play in the Europa League next season at the end of the month, and if Textor sells his shares then it will strengthen their case.
Textor’s Eagle Football Holdings, which also owns Lyon, Botafogo, FC Florida and KVB Moelenbeek alongside their significant holding in Palace, were the problem. UEFA’s rules prevents two clubs controlled by the same company or individual from taking part in the European competition, and with Lyon qualifying for the Europa League at the same time that Palace earned a spot by winning the FA Cup final, it was unclear whether the two teams would both be permitted to take part.
According to The Athletic, Palace chairman Steve Parish has made the case to UEFA that while Textor’s holding company owns the single largest stake in Palace, he only has 25% of the voting rights and does not have significant influence or control at the club, which is effectively run by Parish and his allies in the board room.
Whether that case will sway UEFA or not remains unclear, with the ruling expected to set a new precedent as European football’s governing body works to crack down on multi-club ownership. The biggest issue for Palace is that the deadline for persons of significant interest to divest their stake was 1 March, which will be long missed regardless of how quickly Textor can confirm the sale of his shares.
In short, if Johnson – who is among the heirs to the Johnson & Johnson fortune and acted as the United States ambassador to the UK during the first Trump presidency – does indeed complete his partial takeover of Palace, it may not save them from being barred from their first ever Europa League campaign.
That, however, may not be the only thing Palace fans should be concerned about as the deal goes through – because his track record in sports ownership raises numerous red flags.
Why Woody Johnson’s track record should worry Palace supporters
Johnson took ownership of NFL franchise the New York Jets in 2000 – a team that have since become a byword for failure and dysfunction. Many blame Johnson for the team’s long-standing problems.
The Jets have failed to make the play-offs for 14 consecutive seasons, the longest streak in the NFL and twice as long as any of the other 31 franchises in the league have had to wait. They have also only won their four-team NFC East division once since Johnson took charge.
His tenure has also been marked by considerable turnover in key staff positions. The team has run through eight full-time or interim head coaches and seven general managers (roughly equivalent to sporting directors) under Johnson – nothing exceptional by Premier League standards, of course, but a lot in the NFL.
A damning report on Johnson’s tenure published by The Athletic in December suggests that Johnson not only deeply involves himself in team affairs, but bases some of his decisions on distinctly questionable logic.
For example, the Athletic allege that Johnson killed a potential trade for then Denver Broncos wide receiver Jerry Jeudy because he believed he didn’t have good enough ratings on the Madden computer game, the American football equivalent to the FIFA series. Jeudy would go on to enjoy a successful season with the Cleveland Browns.
The article also suggests that Johnson’s teenage sons – Jack and the curiously-named Brick – have influenced team decisions, and interrupted the traditional handing-out of match balls after a win, a team-bonding moment between coaches and players in a locker room space which most franchise owners or their families would not normally involve themselves in. The Jets organisation, through a spokesperson, denied the claims.
Stories about Johnson’s and his sons’ heavy-handed involvement in his team have been widespread for some time, however, and however team decisions are made, all too many have proven to be poor. Last year alone, the Jets fired both their head coach and general manager and demoted their offensive co-coordinator, and would go on to lose quarterback Aaron Rodgers at the end of the season as well – a complete turnover of primary staff after an attempt to build a team they thought would be worthy of a Super Bowl.
The players don’t seem to be impressed, either. This year’s NFLPA report cards, in which players anonymously grade their teams on a range of topics ranging from facilities to coaching, saw the Jets become the only team whose players graded their ownership with an F. Only five other franchise owners received a grade lower than C, and none others lower than D-.
In short, Johnson hasn’t demonstrated himself to be the kind of man that brings success or stability to a sports team, and if The Athletic’s reporting on his methods bears any resemblance to reality, there should be concern among Palace fans about the extent to which he will be involved at Selhurst Park.
The good news is that he will still only have 25% voting rights, as Textor did, and won’t be able to overrule Parish and his allies – the risk, of course, is that he succeeds where Textor tried and failed, and eventually finds another shareholder willing to sell him enough shares to become the majority owners and, as such, gain control.
It isn’t at all clear that Johnson wants to do that. He has plenty on his plate with the Jets, who are starting another rebuild under new head coach Aaron Glenn – the former Detroit Lions defensive co-coordinator was, at least, seen as an uncontroversial and potentially strong appointment. He may, in short, simply see Palace as an appealing investment, a team on an upward trajectory from whose success he can profit.
But if he does endeavour to involve himself (or his teenage sons) in the day-to-day running of the team, there is evidence that it could have a destabilising effect. If UEFA decide against allowing Palace to play in Europe this season, this could end up as a lose-lose situation.
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