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Crystal Palace receive substantial new investment

Crystal Palace have confirmed that American businessman John Textor has purchased a substantial stake in the Premier League outfit.

What’s the story?

The Eagles revealed on their official website that Textor, the founder and chief executive of Facebank, a virtual entertainment company, has joined chairman Steve Parish and fellow American co-owners Josh Harris and David Blitzer as part of the board at the capital club.

Textor was close to purchasing shares in Portuguese giants Benfica last month and is thought to have paid £87.5m for a significant percentage of Palace, believed to be close to Parish’s 18% controlling stake.

Will Palace stay up this season?

Yes, definitely!

Yes, definitely!

No way!

No way!

Crystal Palace fans will be buzzing

Parish welcomed the fresh investment and a new board member, outlining how his arrival will help to breathe new life into Palace, both on and off the pitch.

“I’m delighted that search led us to John, who has invested significant sums, helping to facilitate the rejuvenation of the squad, bolster the balance sheet and enable the club to finalise the Academy,” he said.

“We all look forward to working with John, who has a strong passion for football and a growing knowledge and affinity to Crystal Palace.”

After joining the south London outfit’s hierarchy, Textor disclosed his delight at getting the deal over the line, highlighting his passion for football and Palace.

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“I have looked at many opportunities across European football in which to invest so I could follow my passion for football and have a meaningful stake in a club.

“Over the past six months of discussions, I have also developed a real affinity to Crystal Palace F.C, its history, the staff and, of course, most importantly the supporters who create an incredible atmosphere at every game – one I cannot wait to witness again when supporters return to fill Selhurst Park this season.

“I very much look forward to working with the Chairman and the other partners,” he concluded.

Palace fans will surely be delighted at this newfound wealth, especially as it has arrived while the current transfer window still has plenty of time to run.

The Eagles have already bolstered new manager Patrick Vieira’s ranks, but the French tactician is likely to need extra reinforcement to ensure the club’s safety from relegation, something he is now expected to receive given this investment.

And, in other news…Get it done: Palace must swoop for “dangerous” 21 y/o prodigy, Vieira will love him 

Article title: Crystal Palace receive substantial new investment

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