Jets owner Woody Johnson set sights on Crystal Palace stake amid UEL turmoil

Woody Johnson, the billionaire owner of the New York Jets, is once again making waves across the Atlantic, this time eyeing a slice of Premier League action. After his previous bid to buy Chelsea fell through in 2022, Johnson is now in advanced talks to invest £200 million (around $272 million) in Crystal Palace, according to ESPN.

Should the deal go through, it could not only mark Johnson's long-awaited entry into English football but also pave the way for the FA Cup champions to lock in their spot in next season’s UEFA Europa League. His Premier League pursuit is clearly far from over, and this time, he may just have found the right fit.

Crystal Palace's fairy-tale FA Cup triumph over Manchester City may have booked them a ticket to the Europa League, but their European dream is hanging by a thread due to UEFA's multiclub ownership restrictions.

Minority shareholder John Textor, who also holds a majority stake in Ligue 1's Lyon, is at the center of the storm. Despite having no direct say in Palace's daily affairs, those reins rest with chairman Steve Parish and U.S. investors Josh Harris and David Blitzer, UEFA rules strictly prohibit two clubs under the same ownership umbrella from competing in the same continental tournament unless one is placed in a blind trust.

Unfortunately for Palace, Textor missed UEFA's March 1 deadline to move his shares in either Palace or Lyon into such a vehicle, well before the Eagles stunned the football world with their Wembley win. That delay now threatens to derail their European adventure.

Behind the scenes, though, movement is underway. Textor is willing to part with his 43% stake in Palace, and Woody Johnson, owner of the New York Jets, has emerged as the frontrunner to seal the deal. Johnson, 78, previously served as the U.S. ambassador to the U.K. and unsuccessfully tried to buy Chelsea in 2022 following sanctions imposed on former owner Roman Abramovich. A self-proclaimed Chelsea fan, Johnson's potential stake in Palace could untangle the ownership complications keeping the South London club out of Europe.

Here's some of the quick reaction from the NFL world on the news:

Johnson's NFL franchise, the Jets, which he bought in 2000 for $635 million, is now valued at a staggering $6.8 billion. Still, his tenure has been rocky — marked by a 173-231 record (ranking 26th out of 32 NFL teams) and capped earlier this year with an 'F' grade in the NFLPA's team report card. He brushed off the criticism but did admit improvements were needed.

Should Johnson move forward with the Palace deal, it likely won't hit the Jets financially. NFL teams continue to rake in profits despite heavy spending. However, Johnson's potential increased involvement in London could shift how he operates with the Jets, a change some fans might welcome after his controversial sacking of head coach Robert Saleh earlier this season.