Crystal Palace co-chairman Steve Parish has spoken about the potential investment plans for the club.
It was revealed earlier in the week that an American consortium was interested in buying a stake in the club. The identity of the investors has now been revealed as the owner of the New Jersey Devils and Philadelphia 76ers, Josh Harris and his business partner David Blitzer.
According to Dominic Fifield of The Guardian , the plan is for Parish and his fellow co-owners Stephen Browett, Jeremy Hosking and Martin Long to all sell a percentage of their stakes in the club to Harris and Blitzer.
The plan is for Parish, Harris and Blitzer to all own 18% of the company, while the remaining 46% will be shared out between Browett, Hosking and Long.
Speaking to Sky Sports, Parish said:
There are very serious conversations going on and I will remain the single largest shareholder along with David and Josh. The day-to-day decision-making control will remain the same. They will bring some fresh ideas and some fresh input which will be great.
But I think the guys recognise that having a UK partner retains the soul of the football club which is really important and it’s important to me that my three other partners will stay involved as well. It will be a much broader investment base and everyone is signing up to a commitment to improve the stadium. So it’s an exciting time and if it comes off I think we can make some major developments for the club.
If all goes smoothly, the change in ownership at the club could be completed by Christmas time.
The investment in the club is set to be spent on improving Selhurst Park and the club’s academy.
