Woody Johnson strikes £190m deal to unlock Crystal Palace’s European future

Johnson’s Palace investment submitted for Premier League approval

New York Jets owner Woody Johnson has agreed to a £190 million ($254 million) deal to purchase a 43% stake in Premier League side Crystal Palace. The deal was struck with American businessman John Textor, who holds shares in the club, and it is now undergoing the Premier League’s official approval process, according to a source speaking to ESPN.

To finalise the deal, Johnson must successfully pass the Premier League’s Owners’ and Directors’ Test. The same source stated that the public announcement is expected to be made on Monday morning. The Premier League declined ESPN’s request for comment.

UEFA restriction: transfer of shares critical for Europa League

This development could directly affect Crystal Palace’s participation in the UEFA Europa League. The club earned a European spot for the 2024–25 season by winning the FA Cup. However, because shareholder John Textor also controls French club Lyon, the club faces complications under UEFA’s multi-club ownership rules. UEFA does not permit two clubs controlled by the same individual to compete in the same European competition. This rule, designed to preserve the integrity of continental tournaments, has already impacted other multi-club owners in recent seasons.

In such cases, shares must be transferred into what is known as a "blind trust"—a neutral structure. However, Textor did not carry out such a transfer by UEFA’s March 1 deadline. This structure acts as a legal safeguard, allowing shares to be held independently of the original owner’s influence, in order to avoid any conflict of interest between clubs. As this requirement hasn’t been met, Palace’s Europa League participation remains unconfirmed.

Johnson emerges as key buyer in the process

According to previous ESPN reports, Textor was seeking to transfer his Palace shares in order to overcome this hurdle, and Woody Johnson emerged as the leading buyer in the process. His move signals a growing trend of American investors seeking footholds in English football, particularly among clubs with European ambitions.

Chelsea bid and sports investments

Johnson, 78, has long been known for his interest in the sports industry. Following his term as the U.S. Ambassador to the United Kingdom from 2017 to 2021, he became more active in sports investments. As co-owner of NFL franchise New York Jets, he is a prominent figure in American football, and in 2022, he made a bid worth approximately $2 billion to buy Premier League giant Chelsea. However, according to The Guardian, that attempt was unsuccessful and Johnson had to withdraw from the bidding process.

Palace’s management structure and ongoing uncertainties

Crystal Palace’s day-to-day operations are managed under chairman Steve Parish, alongside American investors Josh Harris and David Blitzer. According to ESPN, John Textor has only held a shareholder position and has not been directly involved in daily decision-making processes.

UEFA is yet to make an official decision on Palace’s participation in the 2025–26 Europa League. The outcome of the process will be determined by the completion of Johnson’s share acquisition and the final documentation submitted to UEFA. Missing out on the Europa League would not only damage the club’s prestige, but also cost millions in prize money and broadcast revenue.