Crystal Palace part-owner John Textor has agreed to sell his stake in the club to New York Jets owner Woody Johnson.
Subject to Premier League approval, the pair have reportedly reached a £190 million deal.
It is not yet known if this will mean Palace can now play European football next season, though.
New York Jets co-owner Johnson will purchase the 43% stake in Palace that Eagle Football Holdings currently owns.
That company is a multi-club group owned by John Textor. Because of UEFA’s rules on multi-club ownership, Palace have been at risk of being kicked out of next season’s Europa League.
But it is hoped that Textor’s sale will now allow them to participate.
Both he and Johnson have reportedly signed documents to confirm the purchase, though the Premier League must ratify any deal.
Crystal Palace Owner Change Could Keep Them In Europa League
A key factor in Johnson’s purchase was that he indicated an ability to quickly transfer funds.
As a result, his offer was viewed for favourably than that of other interested parties.
Given the precarious position Palace have found themselves in regarding UEFA, a quick sale was needed.
Textor’s multi-club ownership meant they could have been kicked out of the Europa League, despite qualifying through winning the FA Cup last season.
Crystal Palace's Europa League dream could still be alive with stakeholder John Textor agreeing a deal to sell his stake. pic.twitter.com/zYzDgie5ey
— Match of the Day (@BBCMOTD) June 23, 2025
UEFA are understood to be assessing if Palace’s ownership structure breaches its rules.
That’s because Textor also owns a stake in French side Lyon, who are in the Europa League too.
Under UEFA regulations, no two clubs in the same European competition can have the same owners.
But by selling his stake, it is hoped Textor will have done enough to make sure Palace can participate.
However, it is not yet known if UEFA will change their mind about barring Palace from Europe.
Who Is Woody Johnson?
Woody Johnson is a 78-year-old American businessman and former United States ambassador to the UK.
He is part of the Johnson family, famed for founding the Johnson & Johnson pharmaceutical empire.
Johnson purchased the New York Jets in 2000. His net worth is estimated by Bloomberg to be around £6.8 billion.
But he isn’t the only American party showing interest in buying Crystal Palace.
NBA star Jimmy Butler is part of a consortium linked with a purchase attempt, and a Florida-based entertainment giant has also been reported as interested.
UEFA is expected to make a decision on Palace’s European participation by the end of June.
John Textor Net Worth
Like Johnson, John Textor is an American, who was previously the executive chairman of streaming service Fubo TV.
Textor was a former competitive skateboarder in the 1970s, but retired after suffering a severe head injury in competition during the 1980s.
He has since held numerous senior executive roles across sports, business and technology.
In August 2021, Textor bought a 40% stake in Crystal Palace for £86 million.
His individual net worth is not publicly stated, but Palace’s combined ownership, of which he made up 40%, was said to be worth over £4 billion.
