---
title: "Palace heading towards takeover"
canonical: "https://readcrystalpalace.com/2015/03/14/palace-heading-towards-takeover/"
type: "post"
language: "en-GB"
author: "Tav Sanassee"
section: "Crystal Palace News"
published: "2015-03-14T08:25:19Z"
modified: "2015-03-14T08:25:19Z"
---

# Palace heading towards takeover

Five years ago, Crystal Palace F.C looked to be in a dubious position as it was a football club in need of financial support after falling into administration for the second time in a decade, but now times are changing as after five years under the ownership of CPFC2010, a new consortium look to be closing in on a takeover.

The group of investors, led by American billionaire Josh Harris are reported to be in “late-stage discussion” with the club about a takeover that has been on the cards for around the last six months, with reports first emerging in October that there was an interest in the club when the Eagles were deemed as a more affordable option compared to Aston Villa.

Reported in the Financial Times yesterday, the deal is now close to being completed, with Steve Parish keeping a 15% stake in the club and the other three main parties reducing their share in the club to 5%. Harris’s capital investment firm Apollo Global Management and Blackstone are hopeful that the deal will be signed over the next few days, leading to an announcement in the next couple of weeks.

Representatives of the consortium were at Selhurst Park in February for the visit of Newcastle United, having a look at the club on a matchday and how supportive the fans are of the club even when results aren’t going the club’s way – as was that night with the Eagles drawing 1-1 against Alan Pardew’s former side.

In January, Steve Parish was a guest on BBC Radio 5 Live’s Sportsweek and was asked questions about a possible takeover of the club. Speaking to host Garry Richardson, he said: “I’ve said all along if somebody can move the club forward faster than we can, then we would look at it as a group of four people that came along to save our football club.

“You will leave a football club. Our football club has been in existence since 1905, we are custodians of it right now and you will leave it. A lot of people don’t manage their exit, they just hang on and hang on so we talk to anyone. I talk to anyone I think can help the football club and unfortunately sometimes that gets into the public domain which isn’t great.”