Robert Wood ‘Woody’ Johnson, co-owner of the New York Jets, has entered into a legally binding agreement to acquire Eagle Football Holding’s share in Crystal Palace, as announced by the Premier League club on Monday.
The arrangement is pending approval from both the Premier League and the Women’s Super League, with reports in British media estimating its value to be near £190 million (approximately $254.39 million).
“While the finalisation of this deal relies on the necessary approvals from the Premier League and Women’s Super League, we do not anticipate any problems and are excited to welcome Woody as a partner and director of the club,” Palace stated in their announcement.
Johnson, who previously served as the US ambassador to the United Kingdom, is expected to take on the role of partner and director at Palace. At 78 years of age, he is part of the Johnson family that established the Johnson & Johnson pharmaceutical corporation.
Reports indicate Johnson has acquired a 43% share in Palace from Eagle Football Holdings, a multi-club enterprise headed by American businessman John Textor, who also has stakes in Ligue 1’s Olympique Lyonnais and Brazil’s Botafogo.
Having qualified for the Europa League by winning last season’s FA Cup, Palace has now mitigated the risk of losing their spot due to Textor’s connections with Lyon, another qualifying club, as UEFA prohibits clubs with shared ownership from competing in the same tournament.
“We would like to officially express our gratitude to John Textor for his contributions over the past four years and wish him the very best for the future,” said the south London club.
Textor initially acquired his stake for around £90 million in August 2021.
Compiled by SportArena.com.au.
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