Woody Johnson, owner of the New York Jets, has agreed to buy John Textor’s 43% stake in Crystal Palace.
The £190 million ($255 million) deal could pave the way for the Eagles to play in the Europa League next season.
Crystal Palace made history by winning the FA Cup in May, qualifying for Europe for the first time. However, their participation was uncertain due to UEFA’s multi-club ownership rules, as Textor also owns French side Lyon, who also qualified.
Lyon finished higher in their league (6th) than Palace (12th), which would typically exclude Palace.
Johnson’s acquisition, confirmed by Crystal Palace on Monday, is expected to resolve this issue. “We do not envisage any issues and look forward to welcoming Woody as a partner and director of the club,” the club stated.
The 78-year-old Johnson, an heir to the Johnson & Johnson pharmaceutical empire, has a net worth of $9.2 billion.
A UEFA decision on Palace’s European involvement is anticipated by the end of the month.
