Crystal Palace takeover: Steve Parish set to stay and run Palace following American takeover

Businessman Josh Harris already owns two sports franchises in America

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The Independent Football

Crystal Palace are close to reaching an agreement with American businessman Josh Harris over a takeover of the club that would see the current owner Steve Parish stay on and run operations.

Harris owns the New Jersey Devils and the Philadelphia 76ers and talks with the current Palace owners, CPFC 2010, are at an advanced stage with only a few details about the club’s valuation left to be agreed upon. The parties are ready to enter the period of due diligence which is required before the deal can be completed.

Parish, the club co-chairman, would most likely be retained to run the club after selling to Harris, and he said last night that no deal was “imminent”, although admitted that the club had been in talks with potential suitors.

“There is no imminent takeover,” Parish said. “We are talking to a number of people on a number of fronts. I’ve always said that if somebody wanted to invest in the club and move it forward quicker than I or we can then we would entertain it.”

Steve Parish

The current ownership at Palace have been in charge for four years, taking the club out of administration. After Dougie Freedman left for Bolton Wanderers, they appointed Ian Holloway as manager, who led them to promotion to the Premier League through the play-offs in 2013.