Report: Palace are on the market to be sold

Josh Harris and David Blitzer

Crystal Palace are being tendered to prospective buyers in a £210million deal.

City AM says it has seen a document circulating among bankers offering between 75 and 90 per cent of the club.

American co-owners Josh Harris and David Blitzer have this year reportedly been looking to sell their stake.

Minority owner Steve Parish is also said to be open to remain as chairman but willing to dilute his share.

The investor summary says redevelopment of Selhurst Park and the Academy will cost £140m but will raise revenue by £24m a year.

It goes on to say Palace would be available to buy debt-free and has a projected valuation of £525m by year three and by year five it would be £700m.

Palace’s revenue increased to £150.3m for the year ending June 2018 but made a loss of £35.5m due to player signings.