Crystal Palace have confirmed that New York Jets owner Woody Johnson has purchased a stake in the club.
Johnson has agreed on a £190 million deal ($254m) to buy a 43% stake in the Premier League side from American businessman John Textor.
"I am honoured and privileged to be joining the ownership group of Crystal Palace Football Club," Johnson said in a statement on Thursday.
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"It is an organisation with a proud history, tradition, and deep roots in English football in South London, which I came to admire during my time as U.S. Ambassador to the United Kingdom.
"Eagles fans have demonstrated extraordinary loyalty, passion, and unwavering dedication and I am excited to meet and get to know them."
Johnson joins chairman Steve Parish, Josh Harris and David Blitzer as a partner and director of the club, and has also signed the Premier League's Owners' Charter.
Johnson's arrival at Palace comes with the club in dispute with UEFA over which European competition it will play in next season after winning the FA Cup in May -- their first major trophy in 120 years of existence.
Palace were demoted from the Europa League to the Conference League after falling foul of UEFA's rules governing multi-club ownership, but have submitted an appeal to the Court of Arbitration for Sport.
UEFA determined that as of March 1, Textor had control or influence in Palace and French club Lyon.
Textor said he had agreed to sell his stake in Palace to Johnson, but the move came too late to satisfy UEFA.
"We are still fighting," Parish told the The Rest is Football podcast. "There's an appeal process, so we go to CAS which is the court for arbitration and, you know, we're very hopeful. We think we've got great legal arguments.
"We don't think this is the right decision by any means. We know unequivocally that John [Textor] didn't have decisive influence over the club.
"We know we proved that beyond all reasonable doubt because it's a fact."
Johnson, 78, served as the U.S. ambassador to the U.K. from 2017 to 2021 and made a failed bid to buy Chelsea after the previous owner, Russian oligarch Roman Abramovich, was sanctioned by the U.K. government in 2022 following Russia's invasion of Ukraine.
Johnson has previously declared himself to be a Chelsea supporter.
Information from ESPN's Mark Ogden and The Associated Press contributed to this report.