Jets proprietor Woody Johnson shopping for Crystal Palace $254M funding
Jets proprietor Woody Johnson is making a leap into Premier League soccer.
John Textor has agreed to promote Eagle Soccer’s 43 p.c stake in Crystal Palace to Johnson, The Athletic reported Monday morning.
The sale is believed to be price near 190 million kilos, or $254 million, in line with BBC.
Johnson bought the Jets for $635 million in 2000, and he’ll now add a second sports activities franchise to his portfolio, turning into certainly one of an rising variety of sports activities house owners to diversify their investments throughout a number of leagues and sports activities.
The acquisition have to be ratified by the Premier League via the Homeowners’ and Administrators’ take a look at, though that course of is broadly anticipated to occur shortly and with out difficulty, given Johnson’s expertise proudly owning the Jets.
Johnson, an inheritor to the Johnson & Johnson pharmaceutical fortune, has a internet price of $9.1 billion, in line with the Bloomberg Billionaires Index.
He’s additionally the previous U.S. ambassador to the U.Ok., having held the place from 2017 to 2021 beneath the primary time period of President Donald Trump.
Johnson made a failed bid to purchase Chelsea in 2022, after former proprietor Roman Abramovich, a Russian businessman, was sanctioned by the U.Ok. authorities in response to Russia’s invasion of Ukraine.
Johnson’s buy might spell excellent news for Crystal Palace’s hopes of competing within the UEFA Europa League subsequent season, which have been in query even after incomes a berth by profitable the 2024-25 FA Cup.
Beneath Textor, the membership might have been denied the power to compete within the Europa League attributable to multi-club possession guidelines, since Textor’s Eagle Soccer group additionally owns the French membership Lyon, which additionally certified for the Europa League.
Textor, 59, is an American businessman who’s the previous govt chairman of FuboTV.
He invested $115 million right into a 40 p.c stake in Crystal Palace in 2021, turning into a co-owner with Steve Parish, David Blitzer and Josh Harris.
Blitzer and Harris co-own the Devils and 76ers via the Harris Blitzer Sports activities Leisure administration firm, and Harris additionally owns the Commanders after buying the staff from Dan Snyder in 2023.
