New York Jets owner Woody Johnson has agreed a £190 million deal ($254m) to buy a 43% stake in Premier League team Crystal Palace from American businessman John Textor, a source has told ESPN.
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.
The Premier League declined to comment when approached by ESPN.
A source familiar with the deal has told ESPN that confirmation of the agreement between Johnson and Textor is likely to come Monday morning.