New York Jets co-owner Woody Johnson is buying a 43 % stake in Crystal Palace FC, the Premier League membership confirmed Monday.
Johnson signed a legally binding contract to buy American businessman John Textor’s holding within the membership, with a number of retailers reporting the worth of the deal at $254 million.
“While the completion is pending approval from the Premier League and Ladies’s Tremendous League, we don’t envisage any points and stay up for welcoming Woody as a companion and director of the membership,” Crystal Palace added in an announcement.
The South London-based Crystal Palace is managed by chairman Steve Parish and American traders Josh Harris and David Blitzer.
The sale may clear the best way for Crystal Palace, the 2024-25 FA Cup champions, to compete in subsequent season’s UEFA Europa League.
The membership has not but been cleared as a result of Textor’s Eagle Soccer Holdings Group additionally has a controlling curiosity within the French facet Lyon. There are UEFA guidelines that forestall two groups with the identical possession from competing in the identical occasion.
Johnson, 78, bought the Jets in 2000 and served because the U.S. ambassador to the UK from 2017-21 throughout President Donald Trump’s first time period in workplace. He made a failed try to buy the Premier League membership Chelsea in 2022.
–Discipline Stage Media
