Woody Johnson is including to his professional sports activities portfolio.
The Jets proprietor has agreed to purchase a major stake within the Premier League staff Crystal Palace, the English soccer membership introduced Monday.
The $254 million sale is for a 43% stake, in keeping with ESPN.
Johnson, who served as the US ambassador to the UK from 2017 to 2021, is shopping for the shares from John Textor, a fellow American.
“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,” Crystal Palace mentioned in an announcement.
Johnson, an inheritor to the pharmaceutical large Johnson & Johnson, purchased the Jets for $635 million in 2000. He has a web value of $3.4 billion, in keeping with Forbes.
In 2022, Johnson submitted a $2.6 billion bid for Chelsea, whom he has mentioned he’s a fan of, however was unsuccessful.
“When I was over there, I couldn’t be a fan of a particular team,” Johnson, 78, mentioned in 2022, in keeping with ESPN. “I had to be diplomatic. I had to like all the teams, but we were Chelsea fans. It’s London’s team. The concept of New York and London, I thought was one that we could do pretty well with that.”
Crystal Palace performs in Selhurst, South London. The membership completed twelfth within the Premier League standings final season.
Johnson’s buy of Crystal Palace may clear the membership to compete within the 2025-26 UEFA Europa League. Crystal Palace’s eligibility for that worldwide competitors had been sophisticated by the truth that Textor’s Eagle Soccer Holdings Group additionally has a majority stake within the French membership Lyon.
Textor, the previous govt chairman of FuboTV, purchased his stake in Crystal Palace in 2021 however had explored promoting it for greater than a 12 months.
“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,” Crystal Palace mentioned.
The day-to-day operations of Crystal Palace are dealt with by chairman Steve Parish, in addition to Josh Harris and David Blitzer, who personal the Devils and Philadelphia 76ers. Harris can be the Washington Commanders’ controlling proprietor.
Monday’s announcement got here lower than every week after Los Angeles Dodgers proprietor Mark Walter agreed to purchase a controlling stake of the Los Angeles Lakers for $10 billion.
Initially Printed: June 23, 2025 at 9:41 AM EDT
