Crystal Palace close to new minority shareholder

Crystal Palace co-owner John Textor has agreed to sell his 43% stake in the club to New York Jets owner Woody Johnson, in a deal valued at approximately £190m. According to reports by the BBC the formal documents have been signed and the deal is now subject to Premier League approval, including the owners' and directors' test.

Johnson, a billionaire and former U.S. ambassador to the UK, reportedly moved ahead of rival bidders by demonstrating the ability to transfer funds quickly—an important factor given Palace’s pending UEFA review regarding Europa League eligibility.

The sale could potentially address UEFA’s concerns about multi-club ownership, with Textor also owning a stake in French club Lyon, who have also qualified for next season’s Europa League. UEFA prohibits clubs under the same ownership from competing in the same European tournament, and Palace’s participation remains under scrutiny.

Johnson, whose estimated net worth is £6.8bn, would bring significant financial clout to Selhurst Park. He purchased the NFL’s New York Jets in 2000 and is an heir to the Johnson & Johnson pharmaceutical fortune.

Other American investors, including a Florida-based entertainment conglomerate and a consortium linked to NBA star Jimmy Butler, have also shown interest in Palace. However, Johnson’s offer appears to be the frontrunner.

UEFA is expected to make a final ruling on Palace’s European status by the end of June.