Crystal Palace co-owner David Blitzer makes proposal to buy Saint-Etienne

The American billionaire was recently involved in Sir Martin Broughton’s failed attempt to buy Chelsea

David Blitzer owns or co-owns a number of football clubs across Europe (Getty Images)

Crystal Palace part owner David Blitzer has made another move to add to his burgeoning multi-club project, with an initial proposal to buy French club Saint-Etienne.

The American billionaire was recently involved in Sir Martin Broughton’s failed attempt to buy Chelsea, a bid that would have necessitated selling his stake at the Selhurst Park club. That points to the ambition of his project, which either owns or fully owns four clubs in Europe.

He now sees Saint-Etienne as a progressive next step in the group, with the historic French club rife for revival. ASSE, as they are commonly known, have won a record 10 domestic titles and are one of just five Ligue 1 clubs to have reached a European Cup final, where they were beaten by Bayern Munich in 1976.

It is understood the Blitzer proposal is favourably considered. Saint-Etienne co-owners Roland Romeyer and Bernard Caiazzo announced the club was formally for sale in a letter to fans in April 2021, published in Le Progres.

“To assure continuity and the development of our club, we have entrusted a reputable investment bank with the mission of selecting the best investor. We will ensure that this new shareholder has the appropriate means to grow the club, secure employment and perpetuate its identity. We will be vigilant that the handover can take place in a confidential manner.”

Blitzer currently looks likely to meet these conditions, but as part of an ownership model that is becoming a standard for the game.

As well as Palace, the New Jersey-born billionaire co-owns or fully owns FC Augsburg in Germany, Ado Den Haag in the Netherlands, and Waasland-Beveren in Belgium – all through his firm Bolt Football Holdings, which includes Jahm Majafi and Jeff Moorad on its board.

Blitzer is also a partner in Harris Blitzer Sports Entertainment, which owns stakes in the Pittsburgh Steelers, the Philadelphia 76ers, the New Jersey Devils hockey team, and Major League Lacrosse.