New York Jets owner ‘Woody’ Johnson has moved one step closer to acquiring a substantial part of Crystal Palace FC, as his bid for a 43 percent stake in the club is now pending approval.

Johnson’s interest in the Premier League club, the 2024-25 FA Cup winners, was first reported a week ago, but a brief statement on the official Crystal Palace FC website has since confirmed that John Textor, via his Eagle Football Holdings company, has accepted a bid rumoured to be between $200m and $250m.

“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,” the statement read. “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.”

Textor’s four-year involvement with the club, and others under the Eagle banner, caught up with him at the end of the 2024-25 campaign, when UEFA rules prohibiting clubs owned by one entity from competing in the same European competition were in danger of being breached by Palace’s first-ever major trophy success. Textor also owns a stake in French club Lyon, which has also qualified for the 2025-26 Europa League. By offloading his stake, the south London club would be clear to take part.

Should Johnson’s bid prove successful as expected, he would join a select group of NFL team owners with interests in the Premier League, including the Glazer family (Manchester United), Shad Khan (Fulham) and Stan Kroenke (Arsenal). Washington Commanders front man Josh Harris also has an existing stake in Crystal Palace.