Crystal Palace’s Co-chairman Steve Parish has spoken to BBC Sport about the latest developments regarding the potential investment into the club by two American businessmen.
David Blitzer and Josh Harris are looking to build onto their portfolio of sports teams by investing in Palace. They already co-own an NHL side; the New Jersey Devils, and an NBA side; the Philadelphia 76ers, and they are now looking to take ownership of a Premier League club too.
The plan is for Blitzer and Harris to invest in the club and each acquire 18% of the club’s shares, the same amount as Steve Parish will hold.
Stephen Browett, Jeremy Hosking and Martin Long, who along with Parish bought the club in 2010, will all see their shareholdings fall from 25% to just over 15%.
Parish spoke of his eagerness to get a deal done, and he said that him and his three business partners are happy to give up some of their shares in the club, as investment is needed to take Palace to another level.
He said:
I think this club can be massive and it’s a great opportunity. I want to move fast and to do that you need big funds. I’m prepared to do my bit, the three boys who are involved with me are prepared to do their bit. But we need to bring some new people in to accelerate it and make sure we’ve got everything we need. If I was a Palace fan, and I am, I’d be fantastically excited about the future.
Parish also said that the money was not needed in terms of the financial security of the club, but it is necessary in order to help fund such things as stadium renovation.
If this deal doesn’t happen the team will be fine, but I really want to see the club fulfil the potential it should have fulfilled. We’ve had our share of bad luck: it’s time we put the record straight.
