Late on Friday evening whilst I was tucked up nicely in bed, Crystal Palace confirmed that the expected investment deal seeing Josh Harris and David Blitzer come on board at the club had now been signed, sealed and delivered.
The full details of the agreement are obviously kept back, but building on co-chairman Steve Parish’s words over the last few weeks and months, a statement on Crystal Palace FC confirmed tat Parish, Harris and Blitzer would take control of the club in a ‘general partnership structure’ and other investors in a ‘limited partnership structure’ would join them, including current CPFC2010ers Stephen Browett, Jeremy Hoskins and Martin Long who all retain substantial shareholdings in the club, despite dropping to allow Harris and Blitzer to come in.
‘All shareholders have agreed an initial £50m injection of capital for the development of the stadium, with more to follow. This will give fans the first-class facilities they deserve.’
The statement obviously talks about this being the latest step to secure the future of the club given the progress that has been made on and off the pitch in the last first years, namely coming out of administration and then securing our status in the Premier League.
‘It ensures that, while overseas investors are joining us, the heart and soul of the club remains in south London.’
Parish himself said of the deal, now it had been signed.
‘I’m delighted that Josh and David have agreed to make this investment and join me in shaping the future of Crystal Palace. I have had the great pleasure of getting to know them both over the past 18 months and I am sure they will be a huge help to me and add an enormous amount of value. I am looking forward to getting started with them and continuing to drive this great football club to ever great heights. I would like to thank Stephen, Jeremy and Martin, as well as all the club’s supporters, for their incredible support over the past five years and I am thrilled they will retain a shareholding for the next part of the journey.’
Harris and Blitzer added in a joint statement.
‘We couldn’t be more excited to be joining the Crystal Palace family. We were drawn to the club’s rich history, exciting brand of football, strong leadership and, above all, its passionate fans. We`ve had the great pleasure of getting to know Steve and have the utmost respect for him and his partners, Stephen, Jeremy and Martin. We look forward to supporting Steve in his role as the operating co-owner and leader of the club. Crystal Palace has a storied legacy, a bright future and we’re proud to become a part of it.’
Vital Crystal Palace on:
Vital Crystal Palace on:
Share this article
