New York Jets Owner Buys Into Premier League, Avoids UEFA Scanda

New York Jets owner Woody Johnson just dropped $254 million to snag a 43% stake in Crystal Palace, saving the FA Cup champs from a UEFA ban. The Premier League club faced expulsion from the Europa League due to multi-club ownership rules. John Textor’s shares in both Palace and Lyon created the conflict.

Textor, an American businessman, owned 43% of Crystal Palace through his Eagle Football Holdings, which also controls French club Lyon. UEFA prohibits clubs with shared ownership from competing in the same European tournament, threatening Palace’s spot after their 1-0 FA Cup win over Manchester City. Johnson’s purchase, announced Monday, clears the path for Palace’s historic Europa League debut.

Another American Owner for the EPL

The deal awaits Premier League and Women’s Super League approval, but Palace officials are confident. Johnson, a billionaire with a $9.2 billion net worth, brings NFL swagger to the EPL, though his Jets’ struggles raise eyebrows among Palace fans. Some, like comedian Kevin Day, question if this is a trophy grab or true investment according to Sky Sports.

Related: American Owner’s EPL Share Dump to Keep Palace in Europa League 

Palace’s FA Cup triumph, their first major trophy in 164 years, earned them a $610 million valuation, per Sportico. Textor, who invested $180 million since 2021, exits with a profit, now eyeing another English club report The Guardian. Meanwhile, Johnson’s cash ensures Palace’s European dream stays alive, with UEFA’s final ruling expected soon.