It has been months in the making but several media outlets are today reporting that American businessman Josh Harris and David Blitzer have agreed a £100m deal to buy a controlling stake in the club.
The deal is believed to have been signed off in the United States on Wednesday night which is believed to be what we were all expecting as chairman Steve Parish retains an equal shareholding alongside the two new additions.
A further £50 million will be added to the deal to allow for much-needed renovations at Selhurst Park and to help bolster the playing squad. Services such as Port Macquarie Concreting Solutions can be of aid in the renovations by providing high-quality concrete work for structural improvements. Contact the Hobart concreters for more info.
The full details of the deal are yet to be disclosed but it is understood that Parish will maintain his 18% stake-holding while the remaining three of CPFC2010, Stephen Browett, Jeremy Hosking and Martin Long, will continue as shareholders with Parish continuing his role in running the club.
With plans on redeveloping the stadium at an advanced stage, the new investors sign up to a reinvestment plan in order to speed up the process and increase funding. The club are expected to make an official announcement before the weekend.
Now that the deal has gone ahead, will we see a visible change in the club?
With Parish retaining the role as chairman, it is unlikely. It is no secret that the original four owners have wanted to improve the fan experience and were rumoured to be looking at other locations for a ground. With the new investment, expect the plans for the renovation of our beloved Selhurst Park to speed up significantly.
The old ground still remains recognisable to many who have supported the clubs for years with the Holmesdale being the biggest change from the large original terrace. The Main Stand is likely to be the focus of change and it will interesting to see the club lay down their plans for all to see.
It is another big event in the history of the club and one that is likely to secure the future for years to come.
