Crystal Palace's Europa League prospects improve after John Textor sells stake to New York Jets owner Woody Johnson

Crystal Palace's hopes of playing in Europe next season appear to have been boosted after shareholder John Textor sold his stake in the club to New York Jets owner Woody Johnson.

Textor's shares in Palace threatened to be an obstacle to their participation in the Europa League next season because the American is a shareholder in French side Lyon, who are set to enter the same competition.

Under UEFA's multi-club ownership rules, it looked as though Palace could miss out.

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However, Textor's 43 per cent stake in the London club has now been sold to Johnson in a deal worth more than £190m and values Palace at more than £400m.

A Crystal Palace statement said: "Crystal Palace Football Club can confirm that Robert Wood Johnson, "Woody", an American businessman and co-owner of the New York Jets, has signed a legally binding contract to purchase Eagle Football's holding in the Club.

"Whilst the completion is pending approval from the Premier League and Women's Super League, we do not envisage any issues and look forward to welcoming Woody as a partner and director of the club.

"We would like to go on record to thank John Textor for his contribution over the past four years and wish him every success for the future."

The sale is subject to Premier League and WSL approval, but may now free Palace up to play in the Europa League.

The Eagles qualified for the competition thanks to their FA Cup final victory over Manchester City.

A decision is expected within days that Palace will take their place in Europa League for first time in their history with the draw in August.

Textor, who through his Eagle Football Holdings group also owns a significant stake in Botafogo, who are the current Brazilian and South American champions, initially invested in Palace in 2021.

Johnson has been in talks with Textor and Palace chairman Steve Parish for several weeks.

He is the billionaire owner of New York Jets and a former US ambassador to UK and has tried to buy a Premier League club before, with interest in West Ham and Chelsea.

Textor and Eagle Football, who also own Belgium's RWD Molenbeek, will now try to buy another English club.

PL approval 'a formality' - and UEFA decision soon

Sky Sports News' chief correspondent Kaveh Solhekol:

The process to obtain Premier League approval for Woody Johnson's purchase of shares in Crystal Palace started weeks ago.

As a former US ambassador to the UK and respected businessman, passing the Premier League's Owners' and Directors' Test is expected to be a formality.

A UEFA decision on whether Palace can play in the Europa League is due before the end of the month.

Palace believe they have now satisfied all the requirements to play in the Europa League.

They have been in continuous dialogue with UEFA and have a very good relationship with European football's governing body.

UEFA accept that in the spirit of competition, clubs who have earned the right to play in Europe should be allowed to play in Europe.

The only stumbling block to Palace playing in the Europa League could now be the prospect of another club going to the Court of Arbitration for Sport to try to force UEFA to let them take Palace's place in the competition.

Sky Sports to show 215 games in 2025/26

From next season, Sky Sports' Premier League coverage will increase from 128 matches to at least 215 games exclusively live.

And 80 per cent of all televised Premier League games next season are on Sky Sports.

(c) Sky Sports 2025: Crystal Palace's Europa League prospects improve after John Textor sells stake to New York Jets owner Woody Johnson