After rumours regarding the potential for substantial US investment in Crystal Palace FC reemerged yesterday, the Daily Mail’s Neil Ashton has written a piece which goes into incredible detail to offer some background to the deal.
Neil Ashton’s incredibly detailed and informative background article on the specifics behind US billionaire Josh Harris’ investment in Crystal Palace is essential reading for anyone associated with the football club.
After skirting around the idea of buying a stake in the club for more than a year, it seems as though billionaire businessman Josh Harris has finally bitten the bullet, with talks progressing rapidly over a move which would see him acquire a substantial share in the football club, albeit, not more than current CPFC2010 frontman Steve Parish.
Whilst it would be foolish of me to plagiarise Ashton’s work in this piece specifically, the outline of the agreement centres around the emotional attachment Harris has supposedly made with Palace since talks over a possible transfer of ownership began some time ago.
It’s no secret that the Premier League is now big business in the US, with hundreds of thousands tuning in for NBC’s coverage each week, and, no doubt buoyed by the continued success we’ve enjoyed under the guidance of Alan Pardew since the 2015-16 season began, his desire to grab a piece of the action has seemingly become too intense to ignore.
Although the club’s supporters and to some extent our owners remain highly sceptical of the impact foreign ownership could have on the unique atmosphere that is generated in and around Selhurst Park, it is the state of the stadium which has forced Parish’s hand somewhat in entertaining the idea of outside investment at all.
It is no secret that the ground itself is in need of far more than a lick of paint, with three of the four stands ready and waiting for a complete makeover, and, with the estimated cost of a revamp coming in at an eye-watering £150 million, the possibility of a debt free investment from elsewhere to turn the dream into a reality has understandably pushed the buttons of all four current owners.
Far be it for me to delve into the detail that Neil so eloquently has in the article attached above, which makes for an exciting read from start to finish, but, after first hearing about Harris’ apparent interest in pushing a deal through yesterday, it seems as though things are now moving extremely quickly once again.
Watch this space.