New York Jets owner Woody Johnson has offered £190 million to buy John Textor’s stake in Crystal Palace, a move that could clear the path for the club to participate in next season’s UEFA Europa League. The bid, which has the backing of Palace’s co-chair Steve Parish, is currently being considered by Textor, despite falling short of his estimated valuation of £240 million for his 44.9% stake.
The potential deal comes as UEFA is expected to delay its decision on Crystal Palace’s eligibility for the Europa League until the end of the month. If Johnson’s bid is successful, it could significantly impact the team’s future, allowing them to compete in the prestigious competition. Textor’s stake in Palace has been valued at approximately £240 million, based on his failed attempt to buy out co-owners Steve Parish, Josh Harris, and David Blitzer in April.
Johnson’s offer is reportedly one of at least two proposals from US-based parties, with NBA star Jimmy Butler also rumored to be interested in investing in Palace. However, a purchase of Textor’s shares by the current co-owners, Harris and Blitzer, is considered the most likely outcome this summer. The deal’s success will depend on various factors, including UEFA’s decision on Palace’s eligibility for the Europa League.
The implications of Johnson’s bid go beyond just the ownership structure of Crystal Palace. A change in ownership could bring new investment and resources to the club, potentially leading to significant improvements on and off the pitch. With the Europa League spot on the line, the stakes are high for Palace, and the outcome of Johnson’s bid will be closely watched by fans and pundits alike.
As the situation unfolds, it remains to be seen whether Johnson’s bid will be successful or if alternative suitors will emerge. One thing is certain, however – the future of Crystal Palace hangs in the balance, and the next few weeks will be crucial in determining the club’s direction. With the potential for new ownership and a spot in the Europa League on the line, the excitement and anticipation are building among Palace fans.
