New York Jets owner Woody Johnson is making headlines with his latest investment in sports, acquiring a 43% stake in the Premier League club Crystal Palace. This significant move follows a $254 million deal with American businessman John Textor, who previously held the shares.
This acquisition is not without its complexities. Johnson must pass the Premier League’s Owners and Directors Test before the deal is finalized. The Premier League has stringent guidelines to ensure that owners are fit to manage clubs, and Johnson’s previous experience as a U.S. ambassador to the U.K. may play a role in his evaluation.
Crystal Palace’s management expressed optimism about welcoming Johnson as a partner and director. His ownership is expected to stabilize the club’s operations, especially after recent challenges related to multi-club ownership rules that previously restricted the team’s participation in competitions like the UEFA Europa League. With Johnson’s stake, Palace aims to enhance its competitive standing in English football.
Johnson’s foray into soccer comes after an unsuccessful attempt to buy Chelsea in 2022, showcasing his persistent interest in the sport. His involvement in Crystal Palace could provide him with valuable insights into the dynamics of soccer, potentially benefiting his role with the Jets. This dual ownership could create unique synergies between American football and European soccer.
New York Jets Owner Woody Johnson Set To Buy Crystal Palace Stake
As it stands, Johnson is set to buy a huge stake in the Premier League team. This is detailed more in an article by Mark Ogden for ESPN.
New York Jets owner Woody Johnson has agreed on a £190 million deal ($254m) to buy a 43% stake in Premier League team Crystal Palace from American businessman John Textor, the club announced Monday.
The agreement is subject to Premier League approval and Johnson — a former United States ambassador to the United Kingdom — passing the league’s Owners and Directors’ Test, otherwise known at the Fit and Proper Persons Test.
“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,” Palace added in a statement.
As Johnson navigates this new venture, the implications for both the Jets and Crystal Palace will be closely monitored. His reputation in the NFL, marked by a less-than-stellar record with the Jets, raises questions about how he will manage a soccer club. However, fans from both franchises are hopeful that his leadership will bring success and stability.
Johnson’s acquisition of a stake in Crystal Palace represents a significant expansion of his influence in the sports world. This move highlights the increasing crossover between American sports ownership and international football. As he embarks on this new chapter, the impact of his decisions will be felt across both the NFL and the Premier League.
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