Barclay Premier League club Crystal Palace have agreed a deal in
principle to sell a percentage of shareholding to American Joe Harris,
owner of NBA franchise the Philadelphia 76ers and NHL franchise the New
Jersey Devils.
Harris is believed to have been in talks with Palace chairman Steve
Parish for over a year about investing in the Premier League and ha snow
found a breakthrough in those negotiations.
Steve Parish is expected to continue the day-to-day running of the club.
The proposal is for Parish, Harris and Blitzer to have 18% stakes
each and for the remaining 46% to be held by the other three co-owners.
“There are very serious conversations going on and I will remain the
single largest shareholder along with David and Josh,” Parish told Sky Sports News HQ.
“The day-to-day decision making control will remain the same. They will
bring some fresh ideas and some fresh input which will be great.
“But I think the guys recognise that having a UK partner retains the
soul of the football club which is really important and it’s important
to me that my three other partners will stay involved as well. It will
be a much broader investment base and everyone is signing up to a
commitment to improve the stadium. So it’s an exciting time and if it
comes off I think we can make some major developments for the club.”
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