CRYSTAL PALACE are within weeks of confirming a £215million takeover of the club.
The deal could be done before Christmas although usual last-minute snags and negotiation delays may see the process drift into the new year.
Crystal Palace could be under new ownership within weeksCredit: Reuters
City sources have revealed the process of passing the Premier League owners’ and directors’ test will begin this week.
The source of the money behind the takeover bid remains a mystery.
But it is believed to be a diverse consortium of wealthy individuals and companies from different parts of the world.
The prospective new owners have emerged from the four groups who, as reported by SunSport, were courting the club in the summer.
They included a bid with links to former Manchester City owner Thaksin Shinawatra — and another based in America.
Progress stalled when forward Wilfried Zaha handed in a transfer request.
Potential buyers were cautious about proceeding while the future of Palace’s best player was uncertain and also wanted to see how the club started the season.
But it is understood one group never went away and has been holding regular meetings with the club and its representatives in the intervening months.
And it is now all systems go to complete a deal for an Eagles side who sit 13th in the table after yesterday’s 2-1 home defeat to Liverpool.
Josh Harris and David Blitzer, the American financiers who are in co-control of Palace with chairman Steve Parish, have wanted to sell up for some time.
It is understood the consortium aims to buy the whole club, including Parish’s 18 per cent holding and the stakes of minor shareholders, at a cost of about £185m.
Clearing £30m or so of debt would take the initial value of the deal to £215m.
But Parish would stay on to help steer the club into a new era.
As SunSport revealed in the summer, the full cost of the project to transform Palace is about £350m.
That includes the £100m it will take to revamp the Main Stand at Selhurst Park and £30m to transform the club’s academy.
Parish believed Blitzer and Harris were the men to take Palace to the next level when they bought into the club in December 2015.
If new owners are confirmed in the near future, he and Eagles supporters will hope it is second time lucky.
Steve Parish has been hoping to cash in on Palace for quite some timeCredit: PA:Press Association
Crystal Palace boast of sparkling Selhurst Park roof after Mossy the Robot gets to work
Source: Soccer - thesun.co.uk
