The takeover of Crystal Palace by a consortium led by Josh Harris, an American private equity investor, is expected to be approved by the Premier League within the next few days.
The formal change of ownership may not be announced for some weeks, but the parties have been in talks for six months and have built up a good working relationship. The purchase price is thought to be in the region of £100m.
The consortium includes several prominent Wall Street figures, many of whom are involved with the New Jersey Devils, an ice hockey team, and the Philadelphia 76ers of the NBA.
The takeover of Crystal Palace by a consortium led by Josh Harris, an American private equity investor, is expected to be approved by the Premier League within the next few days.
The formal change of ownership may not be announced for some weeks, but the parties have been in talks for six months and have built up a good working relationship. The purchase price is thought to be in the region of £100m.
The consortium includes several prominent Wall Street figures, many of whom are involved with the New Jersey Devils, an ice hockey team, and the Philadelphia 76ers of the NBA.
The owners do not intend to splash the cash in the style of Roman Abramovich, but they do intend to ensure that Palace consolidate their position in the top flight. The existing group of lifelong investors at Palace consider that more investment is needed if Palace are to be a top ten Premier League club.
The new owners intend to take a close look at what could be done to develop Selhurst Park and also plan considerable investment in the youth academy to more than match that being undertaken at Charlton Athletic.
Harris did have preliminary talks about a takeover at Charlton in 2013, but was not impressed by what he saw. A subsequent attempt to acquire Aston Villa fell through after Randy Lerner backed out of the sale after months of planning.