Crystal Palace part-owner John Textor has signed an agreement to sell his stake in the club to New York Jets owner Woody Johnson, sources close to the deal have confirmed.
The deal, believed to be worth close to £190m, is subject to Premier League approval.
It remains to be seen whether the deal boosts Palace’s fight to be cleared to play in European football next season.
Insiders with knowledge of the negotiations have now indicated that the American businessmen have signed documents to confirm the sale.
The takeover must be cleared by the Premier League, including Johnson passing the owners’ and directors’ test.
Palace could lose their spot in Europe, earned by winning last season’s FA Cup, on the basis of Textor’s perceived involvement at Selhurst Park.
