Crystal Palace chairman Steve Parish has confirmed that talks have been ongoing with an outside party to take over the club.
American billionaire Josh Harris has been linked with the club for months now, but Parish would not identify the potential buyer.
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Harris, who was raised in Maryland, already owns the Philadelphia 76ers of the NBA and the New Jersey Devils of the NHL.
Parish currently owns 25% of the club and serves as co-chairman, and said Palace is in need of money for structural improvements to Selhurst Park.
Speaking to BBC London 94.9:
We are long overdue some ground improvements. They are very costly.
We need to make sure we get that done. If that means bringing in other people, and they are the right people, then we’ll do it.
Right now, the people we’ve spoken to want me to carry on being involved. If that’s the right thing for the club then I will be.
If a Roman Abramovich-type or Abu Dhabi person wanted to buy the club and was prepared to put that kind of money [in], then obviously it is a different conversation.”
Parish saved the club from liquidation when he invested in the Palace back in 2010, and the Eagles gained promotion from the Championship to the Premier League under his watch. It seems he would like to stay involved with the club on some level, even if he sells his 25% stake.
After a slow start to the season, Crystal Palace has turned around their play under Alan Pardew. The Eagles sat in the relegation zone before Pardew’s appointment, and now are just three points back of a top-ten finish.
As Palace continues to trend upward, a possible takeover is more and more enticing for a businessman such as Harris.