New York Jets owner Woody Johnson has agreed on a £190 million deal ($254m) to buy a 43% stake in Premier League team Crystal Palace from American businessman John Textor, the club announced on Monday.
The agreement is subject to Premier League approval and Johnson -- a former United States ambassador to the United Kingdom -- passing the league's Owners and Directors' Test, otherwise known at the Fit and Proper Persons Test.
"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," Palace added in a statement.