Crystal Palace announced on Thursday that Woody Johnson, the owner of the New York Jets, has purchased a stake in the Premier League club, known as Eagle Football. Johnson expressed his excitement about joining the Crystal Palace ownership group, stating, “I am honored and privileged to be part of the Crystal Palace Football Club’s owned group.”
The club revealed last month that Johnson had entered into a "legally binding agreement" to acquire shares from American John Text, who held a 43% stake in Crystal Palace. However, the latest announcement did not disclose any financial specifics regarding the deal.
With this acquisition, Johnson joins existing partners Steve Parrish, Josh Harris, and David Blitzer as a director of the club. He emphasized the rich history and tradition of Crystal Palace, which is deeply rooted in British football in South London, describing it as a significant honor.
Last season, Crystal Palace finished 12th in the Premier League, and Johnson’s involvement comes amid UEFA controversies regarding club ownership rules and European competition. Following their FA Cup victory in May, the club faced demotion from the Europa League to the Conference League due to UEFA regulations concerning multi-club ownership. The club has appealed this decision, as UEFA determined that as of March 1, John Text had influence over both Crystal Palace and Lyon in France. Text agreed to sell his shares to Johnson, but the timing of the transaction did not meet UEFA’s guidelines.
Report by Associated Press.
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Fan Take:
This news is significant for soccer fans as it highlights the growing influence of American investors in European football, potentially leading to increased financial backing and resources for clubs like Crystal Palace. Johnson’s involvement could enhance the competitive edge of the club, making the Premier League even more thrilling to watch.
