New York Jets co-owner Johnson completes purchase of stake in Palace

New York Jets co-owner Robert Wood "Woody" Johnson has completed his purchase of Eagle Football Holdings' stake in Crystal Palace, the Premier League club said late on Thursday.

Johnson had signed a legally binding agreement to buy the stake on June 23 subject to approval. British media had reported the deal to be worth close to 190 million pounds ($256.37 million), with Johnson purchasing a 43 per cent stake in Palace.

Johnson, former U.S. Ambassador to the UK, joins chairman Steve Parish, Josh Harris and David Blitzer as a partner and director of Palace.

"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 ...," Johnson said in a statement.

"I look forward to working with him (Parish) and the entire ownership group to build on the club's recent successes and help shape an exciting future for Crystal Palace."

($1 = 0.7411 pounds)