Premier League: Harris and Blitzer agree Crystal Palace deal

A group of American investors, led by Josh Harris and David Blitzer, have agreed a deal worth 100 million pounds to buy a controlling stake in Crystal Palace, according to Sky Sports. The deal will see 70 per cent of the club shares go into the new owners' hands, while current chairman Steve Parish will retain an equal share alongside the two American businessmen. The group of American businessmen will invest another 50 million pounds into expanding and improving Selhurst Park and also on some new players to enhance the current squad. Harris and Blitzer are not new to the world of sports as they already own the NBA's Philadelphia 76ers and the NHL's New Jersey Devils. Parish will continue to run the club but Harris and Blitzer will also have executive powers. Stephen Browett, Jeremy Hosking and Martin Long will also continue as shareholders but their stake will be a minority one. The final agreements between the club and the new investors will require Premier League approval before becoming effective. Crystal Palace 11/4 currently sixth in the Premier League and they are aaa at Bet365 to remain in the top six at the end of the season.