With each passing day, it’s looking more and more likely that US investment from billionaires Josh Harris and David Blitzer is on its way to Selhurst Park; prompting the Financial Times to publish a wonderfully insightful article on their imminent involvement.
As more and more American businessmen scramble to gain a piece of the Premier League pie, there are plenty of onlookers who are keen to gain an understanding of why there has been such an influx of US money into the English game, with the above feature from the FT drilling down upon the specific financial changes which have gradually turned the Premier League into an attractive proposition for someone with a few hundred million pounds to spare.
Going into fantastic detail over the financial shift that has occurred within the last three to four years, the Financial Times have used Crystal Palace as the perfect example of why mega-rich men such as Harris and Blitzer have cast their gaze in our direction, where before the mere idea wouldn’t have been given a moment’s thought.
Far from being looked upon as a mere millionaires plaything, as was so often the case in years gone by, the ownership of a stable Premier League club is now viewed as an extremely solid addition to anyone’s investment portfolio. There are a multitude of reasons for this, all of which have been documented far more eloquently than I could ever have managed in the piece above.
Moving away from the financial mismanagement which saw Leeds’ brief stint at the top of the Premier League hit the skids so dramatically, the likes of Richard Scudamore have made the division into a profitable environment for all concerned, should they be willing to exercise just a hint of restraint in their regular dealings.
With the deal involving Harris and Blitzer seemingly on the verge of being announced, the above FT feature is essential reading for any Palace fan, as we all look to grasp exactly why we’ve become such a highly prized asset in the global community.