American tycoons David Blitzer and Josh Harris have
purchased a large stake in Premier League club Crystal
Palace.
Crystal Palace have confirmed a deal which sees
American tycoons David Blitzer and Josh Harris take a stake in
the Premier League club.
The duo have been in talks with Palace for over a year and now
join chairman Steve Parish in control at Selhurst Park after the
deal was announced on Friday.
Blitzer and Harris have a history of sports investment and
currently co-own the NBA's Philadelphia 76ers and the New
Jersey Devils in the NHL.
"The deal will see chairman Steve Parish, Josh Harris and David
Blitzer take control of the club in a general partnership
structure," the statement read.
"They will be joined by a number of other investors in a limited
partnership. All shareholders have agreed an initial 50 million
pound injection of capital for the development of the stadium,
with more to follow.
"This will give fans the first-class facilities they deserve."
Blitzer and Harris said they were proud to become part of a club
with a "storied legacy" and a "bright future".
"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," they said.
"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".
Palace sit sixth in the Premier League table after 16 games,
with their next test coming away to Stoke City on Saturday.
purchased a large stake in Premier League club Crystal
Palace.
Crystal Palace have confirmed a deal which sees
American tycoons David Blitzer and Josh Harris take a stake in
the Premier League club.
The duo have been in talks with Palace for over a year and now
join chairman Steve Parish in control at Selhurst Park after the
deal was announced on Friday.
Blitzer and Harris have a history of sports investment and
currently co-own the NBA's Philadelphia 76ers and the New
Jersey Devils in the NHL.
"The deal will see chairman Steve Parish, Josh Harris and David
Blitzer take control of the club in a general partnership
structure," the statement read.
"They will be joined by a number of other investors in a limited
partnership. All shareholders have agreed an initial 50 million
pound injection of capital for the development of the stadium,
with more to follow.
"This will give fans the first-class facilities they deserve."
Blitzer and Harris said they were proud to become part of a club
with a "storied legacy" and a "bright future".
"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," they said.
"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".
Palace sit sixth in the Premier League table after 16 games,
with their next test coming away to Stoke City on Saturday.
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