John Textor sells Crystal Palace stake to NY Jets owner, boosting European hopes

Crystal Palace's European dreams have received a significant lift following the news that shareholder John Textor has offloaded his stake in the club to Woody Johnson, owner of the New York Jets.

Textor's ownership posed a potential barrier to the Eagles' Europa League ambitions due to his shares in Lyon, who are also vying for a spot in the same tournament, potentially breaching UEFA's multi-club ownership regulations.

However, with Monday's announcement that Textor's 45 per cent holding has been acquired by Johnson, pending Premier League and Women's Super League approval, Palace's path to Europe looks clearer.

READ MORE: Crystal Palace get Europa League boost as John Textor agrees £190m deal

READ MORE: Managing Tottenham - Bryan Mbeumo transfer completed as £29m midfielder signs and Romero stays

The club's official statement confirmed: "Crystal Palace Football Club can confirm that Robert Wood Johnson, 'Woody', an American businessman and co-owner of the New York Jets, has signed a legally binding contract to purchase Eagle Football's holding in the club."

The statement continued, expressing confidence in the approval process: "Whilst the completion is pending approval from the Premier League and Women's Super League, we do not envisage any issues and look forward to welcoming Woody as a partner and director of the club."

The club also took the opportunity to acknowledge Textor's contributions: "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."

While the exact figure remains undisclosed, reports suggest the deal values between £160m and £190m.

This strategic sale could pave the way for Crystal Palace to compete in the Europa League, following their triumphant FA Cup final win against Manchester City last month.

Textor, who also owns a significant stake in Brazilian side Botafogo through his Eagle Football Holdings group, initially invested in Palace in 2021.

It is understood by the PA news agency that a decision regarding Palace's participation is expected from UEFA before the end of June.