Woody Johnson, the proprietor of the NFL’s New York Jets, is in talks over a £200 million ($272m) funding in Crystal Palace, sources instructed ESPN — a deal that might clear the trail for the FA Cup winners to take part in subsequent season’s UEFA Europa League.
Palace, who received their first-ever main trophy by defeating Manchester Metropolis in Might’s FA Cup closing at Wembley, are liable to being barred from the Europa League resulting from a multiclub possession rule violation.
Minority stakeholder John Textor additionally owns a majority stake in Ligue 1 group Lyon.
Though Textor has no day-to-day involvement within the working of Palace, who’re managed by chairman Steve Parish and U.S. buyers Josh Harris and David Blitzer, UEFA guidelines forestall two groups with the identical possession taking part in in the identical competitors until shares in a single membership are positioned right into a blind belief.
Textor failed to position his Palace or Lyon shares in such a automobile by the UEFA deadline of March 1 — greater than two months earlier than Palace secured Europa League qualification by successful the FA Cup.
Nonetheless, sources have mentioned that Textor, whose Eagle Soccer Group additionally contains Belgian membership Daring Brussels and Brazilian group Botafogo, is able to promote his 43% stake in Palace, with Johnson the main candidate to thrash out a deal.
Johnson, 78, served as the USA ambassador to the UK between 2017 and 2021 and he made a failed bid to purchase Chelsea after earlier proprietor, Russian oligarch Roman Abramovich, was sanctioned by the UK authorities in 2022 following Russia’s invasion of Ukraine.
Johnson has beforehand declared himself to be a Chelsea supporter. Ought to Textor offload his Palace shares, sources have mentioned that it might resolve the multiclub possession points that threaten the group’s place in subsequent season’s Europa League.
Johnson bought the Jets in 2000 for $635m. In 2024, the franchise was valued at $6.8 billion, in accordance with Sportico. Beneath Johnson’s possession, the Jets’ report is 173-231 (.428), which ranks twenty sixth out of 32 groups.
Earlier this yr, Johnson was the one NFL proprietor to obtain an F grade within the NFL Gamers Affiliation annual group report card. He dismissed the findings, questioning the validity of the survey. Beforehand, he acknowledged he wanted to enhance as an proprietor.
Data from ESPN’s Wealthy Cimini was used on this report.