American businessman Woody Johnson has agreed to purchase John Textor’s 43% stake in Crystal Palace, in a deal believed to be close to £190 million.
The Eagles confirmed the news via their club website on Monday, stating that the move is “pending approval” from the Premier League and contingent on Johnson passing the Fit and Proper test.
The sale has come swiftly after the south London side was at risk of being kicked out of the Europa League due to multi-club ownership rules, however, it is unclear whether the sale will impact UEFA’s decision.
We can confirm that Robert Wood Johnson “Woody” has signed a legally binding contract to purchase Eagle Football’s holding in the club.
Full club statement ⤵️#CPFC
— Crystal Palace F.C. (@CPFC) June 23, 2025
Textor, who owned his shares in Palace through his company Eagle Football Holdings, has been looking at selling his stake for the past year, due to a lack of control at the club.
Last May, Textor made a bold move to purchase the entirety of the club, and since failing to do so has been looking at other options.
Another Premier League side he’s shown a keen interest in is Everton and he now may revisit that move if he wishes.
Multiple parties showed an interest in the American’s shares, one of which was a consortium that included NBA star Jimmy Butler, however, Johnson has acted quicker of the two.
Who is ‘Woody’ Johnson?
Johnson is no rookie in the sporting world, as he is the current owner of NFL side the New York Jets.
He purchased the team in 2000, in a deal that cost $635 million, which was at the time, the highest price anyone had paid for a New York sports team.
His tenure got off to a bright start, with the Jets making the playoffs six times in his first ten seasons, including an appearance in the AFC Championship game.
But since then, the Jets have failed to make the postseason once, and are currently tied with the Buffalo Sabres for the longest current play-off drought among American’s big four professional sports leagues at 14 seasons.
The good news for the Eagles is that Johnson, at the moment, will just be investing money.
His 25% voting rights will give him little say, and day-to-day operations will still be undertaken by chairman Steve Parish.
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Is This a Good Thing for Crystal Palace?
In the short-term, this is a great move for Palace, they’ll get a much-needed injection of cash, which will help them build a strong squad for the upcoming season.
Where it could go wrong for the Eagles is in the long-term. Johnson isn’t someone who’s usually too keen to sell up even when things are going wrong.
Jets fans have called for him to sell the team for the last few years, even setting up petitions in order to get their message across, which have failed to make an impact so far.
Johnson definitely has the money to one day buy out other investors David Blitzer and Josh Harris who both own 10% shares each.
Their investment has dwindled since their £100 million injection in 2015, and if Johnson were to ever buy them out, he’d become a majority shareholder and take control of the club.
This should be unlikely due to Parish, Blitzer and Harris having a strong relationship with one another and the three are in agreement that the current business model works.
But Johnson has yet to buy into the ‘Palace way’ and who knows what his long-term ambitions may be in South London.
Main Photo
Credit: IMAGO / Focus Images
Recording Date: 05.05.2025