Media: Crystal Palace for sale
9 March 2019
The US-owners of Crystal Palace consider selling the club, Bloomberg reports.
The Wall Street-based owners of Crystal Palace, Josh Harris and David Blitzer, have held talks about selling the London-club, reports Bloomberg.
According to the media Harris and Blitzer have talked with at least one US-based financial firm, and they have retained PJT Partners Inc. to handle the sale.
Josh Harris, co-founder of Apollo, and David Blitzer, an executive at Blackstone, acquired the Premier League club three years ago. They also control the Philadelphia 76ers in the NBA and New Jersey Devils in the NHL.
Crystal Palace was promoted into the Premier League in 2013 where the team has remained for the past six seasons. In their latest accounts, 2016/17, Crystal Palace achieved record revenues of £142.7 millon and an operating profit of £10,6 million.
At the moment Palace is 13th in the league, eights points clear of relegation with nine matches remaining.