Crystal Palace: John Textor agrees to sell stake to Woody Johnson in potential Europa League boost | OneFootball

New York Jets owner set to purchase 43 per cent share in the Eagles in deal worth over £170m

John Textor has agreed to sell his stake in Crystal Palace to New York Jets owner Woody Johnson in a move that could ensure the club can compete in the Europa League.

The Premier League and Women’s Super League (WSL) will now complete their respective owners’ and directors’ tests as part of the process before approving the sale.

Palace’s participation in the Europa League next season — secured by their FA Cup final win over Manchester City at Wembley last month — has been in doubt due to UEFA’s rules on multi-club ownership.

UEFA rules state that no individual can have decisive “control or influence” over two clubs competing in the same competition.

Eagle Football also owns a majority stake in Lyon, who have also qualified for the Europa League and take precedence over Palace after finishing higher in Ligue 1 (sixth) than Oliver Glasner’s side did in the Premier League (12th) this season.

A Palace delegation travelled to Switzerland earlier this month for a boardroom meeting with UEFA in an attempt to explain to European football’s governing body that Textor does not have “control” over the club.

While overseeing Eagle Football’s 43 per cent share, he has only had a 25 per cent voting share on the club’s board, with three other co-owners, Josh Harris, David Blitzer and chairman Steve Parish, each also having 25 per cent.

Parish is the club’s day-to-day decision-maker. Standard Sport understands that he and Textor have not always seen eye to eye on how the club should be run.

Textor has made no secret of the fact that he wishes to own a majority stake in a Premier League club over the coming years.

UEFA’s Club Financial Control Body (CFCB) are currently considering Palace’s claim to be able to compete in the Europa League in 2025/26, and a decision is expected to be reached in the next week.

The case would not have gone to the CFCB if Textor had placed his shares in Palace into a blind trust, but he and Palace missed the UEFA deadline to do so.

But Textor’s sale of Eagle Football’s shares to Johnson should represent a new boost in Palace’s cause as they fight to be allowed into Europe’s second-tier competition for the first time in their history next season.

Johnson was in attendance at Selhurst Park on May 5 to watch Palace’s 1-1 draw with Nottingham Forest in the Premier League.