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Crystal Palace hold talks with football club sale specialists Raine Group as pressure mounts on their ownership and manager Roy Hodgson after dismal run of form

  • Raine Group were involved in the Chelsea sale and Sir Jim Ratcliffe’s investment in Man United
  • Crystal Palace have now spoken to them amid their dismal run of form
  • Be careful what you wish for Palace fans! Do you want to become a yo-yo club? It’s All Kicking Off

Crystal Palace have held talks with football club sale specialists Raine Group amidst criticism from fans over their ownership and tensions in the Boardroom. 

The American bank ran the Chelsea sale process two years ago, as well as Sir Jim Ratcliffe’s purchase of 25 per cent of Manchester United, with Palace also seeking additional investment.

Palace sources told Mail Sport that the talks with Raine are focussed on raising money to help fund the redevelopment of Selhurst Park. 

The club have obtained planning permission for a £150million expansion of the main stand, with building work due to start later this year, but around £45m in extra funding is required due to spiralling costs.

Whilst not putting the club up for sale engaging Raine may attract interest from potential buyers given the bank’s close links with some of the wealthiest sports investors in the world, not least the dozens of billionaires who were unsuccessful in the Chelsea and United auctions. 

Pressure is mounting on Roy Hodgson after Crystal Palace were thrashed 5-0 by Arsenal

Pressure is mounting on Roy Hodgson after Crystal Palace were thrashed 5-0 by Arsenal

Their fans unfurled a banner hitting out at the 'weak decisions' being made at the club

Their fans unfurled a banner hitting out at the ‘weak decisions’ being made at the club

Although not at that level Palace are an attractive proposition as an established Premier League club close to central London, with independent experts valuing the club at around £750million.

Palace insist they are not contemplating selling the club and that all of the existing shareholders remain committed investors, but there are tensions behind the scenes. 

Chairman Steve Parish and American shareholders Josh Harris, David Blitzer and John Textor all have an equal share in the management company which runs Palace despite holding significantly different stakes, with Parish holding the deciding vote despite owning less than 10 per cent of the club’s shares.

Parish has been chairman of Palace since 2010 when he saved the club from administration and the threat of liquidation, but despite this rescue act he has faced increasing criticism from fans in recent years. 

Several protest banners were unfurled in the away end during Palace’s 5-0 defeat at Arsenal on Saturday, with one reading “Parish out, Yanks out.” Another banner berated the club for “Wasted potential on and off the pitch” and “Weak decisions taking us backwards.”

Parish has made repeated attempts to bring additional investment to Palace in recent years, but the result has been deadlock in the Boardroom without a major increase in the club’s spending power. American NBA owners Harris and Blitzer paid a combined £50m for 18 per cent each of the club’s shares in 2015, while Lyon owner Textor spent £86m on a 40 per cent stake three years ago. 

There have been calls for co-owner and chairman Steve Parish (pictured) to leave, and the club have now held talks with football club sale specialists Raine Group

There have been calls for co-owner and chairman Steve Parish (pictured) to leave, and the club have now held talks with football club sale specialists Raine Group

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Textor has since increased his shareholding to 45 per cent, although it was reported earlier month that he is considering selling some of his stake due to frustration at his limited influence.

Despite fan complaints Palace are in a healthy financial position, with the club reducing their losses and wage-bill significantly over the last few years. Palace can also boast a productive Academy which has produced major assets, and last year secured planning permission for a major expansion of the main stand at Selhurst Park.

All four shareholders have committed their own money towards the rebuild, which will increase the ground’s capacity from 26,000 to over 34,000 and add around £30m-a-year to their match-day revenue, but the costs have risen by around 50 per cent since the first plans were drawn up five years ago and additional funding is now required.

Palace and Raine declined to comment.

 


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