Crystal Palace get Europa League boost as John Textor agrees £190m deal

John Textor has agreed a deal potentially worth £190million to sell his stake at Crystal Palace.

It has been reported that New York Jets owner Woody Johnson has agreed to buy Textor’s 45 per cent stake in the London club, with the deal priced between £160million and £190million. The 78-year-old, who has owned the Jets since 2000, must now pass the Premier League’s owners’ and directors’ test before a deal can be completed.

It is a huge boost to Palace's hopes of playing in Europe next season. Textor’s shares in the Eagles threatened to be an obstacle to their participation in the Europa League because the American is also a shareholder in French side Lyon, who are set to enter the same competition. Under UEFA multi-club ownership rules, it looked as though Palace would miss out.

The sale may now free Palace up to play in the Europa League, although nothing is likely to be confirmed until the sale has been approved. The Eagles qualified for the Europa League thanks to their FA Cup final victory over Manchester City last month.

PA understands a decision regarding Palace’s participation is expected from UEFA before the end of June. Textor, who through his Eagle Football Holdings group also owns a significant stake in Brazilian side Botafogo, initially invested in Palace in 2021.

Oliver Glasner looks like he will lead the club through their European campaign during the 2025/26 season and the manager spoke of his excitement in May. He said: "You can be a one-hit wonder – but then you are gone, so it just makes no sense. And that's why we said, our planning shouldn't be ‘now we play in Europe, so we do crazy things, and then everything collapses’. No, how is the pathway? And we follow the pathway.

“And now we get a special reward – we can play in Europe – but we don't leave our pathway. And this pathway that didn't start with Oliver Glasner, this pathway started, I think, with the new owners in 2010, for Crystal Palace, and being very stable mid-table.

“Now it's going really step by step, but maybe winning this trophy, playing internationally, also getting this experience, maybe getting a player we couldn't get if we don't play international football, this can help us making the next step.

“This is why I think it's very good, and I think one of the guarantees is the Chairman here: he is very stable and is leading this club in a very stable way, and this pathway will continue.”