Palace’s Euro hopes boosted as John Textor sells stake to New York Jets owner

Crystal Palace’s hopes of playing in Europe next season appear to have been boosted after shareholder John Textor sold his stake in the club to New York Jets owner Woody Johnson.

Textor’s shares in Palace threatened to be an obstacle to their participation in the Europa League next season because the American is also a shareholder in French side Lyon, who are set to enter the same competition.

Under UEFA multi-club ownership rules, it looked as though Palace would miss out.

However, Palace announced on Monday that Textor’s 45 per cent stake in the London club has been sold to Johnson, subject to Premier League and Women’s Super League approval.

A club statement read: “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.

“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.

“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.”

Reports have placed the price between £160m and £190m.

The sale may now free Palace up to play in the Europa League, for which the Eagles qualified thanks to their FA Cup final victory over Manchester City last month.

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

The PA news agency understands a decision regarding Palace’s participation is expected from UEFA before the end of June.