CREDIT: The Athletic
The Premier League has officially approved Woody Johnson’s acquisition of a 42.92% stake in Crystal Palace Football Club. The American businessman and longtime owner of the New York Jets NFL franchise purchased the shares from John Textor’s Eagle Football Holdings, marking a new chapter in Palace’s evolving ownership landscape.
Fast-Tracked Approval and Strategic Timing
While the Premier League’s Owners’ and Directors’ Test typically spans several weeks, Johnson’s longstanding ownership of the Jets (since 2000) and prior role as U.S. ambassador to the U.K. between 2017–2021 helped expedite the process. The final approval came from the league’s board and was ratified by an Independent Oversight Panel.
A prominent figure in both U.S. diplomacy and business, Johnson carries an estimated net worth of $3.3 billion, according to Forbes. He previously showed interest in acquiring Chelsea in 2022, but the club was eventually sold to the Todd Boehly-led consortium.
“This is more than an investment – it’s a commitment to realising the vision for the club, the community, and the culture around Selhurst Park,” Johnson stated.
Textor’s Exit: A Clash of Models
The sale marks the end of John Textor’s tenure as a general partner at Palace, where he previously held a 40% stake. Despite having stakes in other clubs — including Olympique Lyonnais, Botafogo (Brazil), and RWDM Brussels (Belgium) — Textor struggled to align Palace with his multi-club model, citing a lack of collaboration.
“Our strategy for Palace was to get to the Europa League every year, not just off of a cup win every hundred years,” Textor explained in an interview with The Athletic. He lamented Palace’s reluctance to integrate talent from Eagle Football’s wider network, which he claimed undermined their broader football vision.
Textor’s frustration grew after Eagle’s other clubs saw success, including helping Lyon escape relegation and guiding Botafogo to a South American title. But Palace’s unwillingness to accept players from those systems was the breaking point.
“That collaboration needs to go two ways and it doesn’t currently with Crystal Palace,” he said. “That’s the reason we chose to sell.”
Despite receiving larger offers from other parties, including a U.S. consortium backed by sports executives and Saudi investors, Johnson’s deal was ultimately the one that met all conditions in time.
What Changes for Palace?
In the short term, Palace’s operational structure is expected to remain relatively stable. Chairman Steve Parish continues in his executive role, and Johnson, for now, is not expected to take a day-to-day leadership position. However, financial contributions from Johnson may play a role in the long-awaited redevelopment of Selhurst Park.
Crucially, the club’s European ambitions suffered a setback earlier this month when UEFA ruled that Palace must relinquish their Europa League spot due to Eagle Football’s overlapping ownership with Lyon. With Lyon finishing higher domestically, they were granted the place — pushing Palace into the UEFA Conference League instead. Palace has appealed this decision to the Court of Arbitration for Sport (CAS).
Looking Ahead
Woody Johnson’s arrival signals not just an ownership change but a potential strategic realignment. While it remains to be seen how involved he will be, his entry adds further American influence to the Premier League — continuing a broader trend of U.S. investment across English football.
For Palace, the next phase could bring new capital, a shift in long-term planning, and a fresh approach to growth — albeit without the internal friction that marked the Textor era.
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