New York Jets co owner Johnson buys stake in Crystal Palace

New York Jets co-owner Robert Wood Woody Johnson has signed a legally binding agreement to buy Eagle Football Holdings stake in Crystal Palace, the Premier League club said on Monday

The deal is subject to approval from the Premier League and the Womens Super League with British media reporting it to be worth close to 190 million pounds ($254.39 million).

Whilst the completion is pending approval from the Premier League and Womens Super League, we do not envisage any issues and look forward to welcoming Woody as a partner and director of the club, Palace said in a statement.

Johnson, former U.S. ambassador to the United Kingdom, is set to become a partner and director at Palace. The 78-year-old is one of the heirs of the Johnson family that founded the Johnson amp; Johnson pharmaceutical company.

British media reported that Johnson purchased a 43% stake in Palace from Eagle Football Holdings, the multi-club company led by American businessman John Textor, who also has stakes in Ligue 1s Olympique Lyonnais and Brazils Botafogo.

Palace, who qualified for the Europa League by winning last seasons FA Cup, have now addressed the risk of losing their spot due to former stakeholder Textors ties to Lyon, another qualifier, as European soccers governing body UEFA bars clubs under the same ownership from competing in the same competition.

We would like to go on record to thank John Textor for his contribution over the past four years and wish him every success for the future, the south London-based club said.

Textor bought the stake for about 90 million pounds in August 2021. REUTERS

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