Crystal Palace in £100m takeover deal as American consortium agrees to take share of ownership

Palace chairman Steve Parish has reduced his controlling stake to 18 per cent alongside Americans Joshua Harris and David Blitzer

A view of Crystal Palace's Selhurst Park (Getty Images)

Crystal Palace have agreed a takeover deal with American consortium led by Joshua Harris and David Blitzer that will see the pair purchase 18 per cent of the club each, with current chairman Steve Parish reducing his shareholding.

The £100m deal is believed to include 70 per cent of Palace’s shares, while the remaining 46 per cent of the club will be owned by a combination of the three existing CPFC 2010 investors and other American investors.

However, current co-owners Steve Browett, Martin Long and Jeremy Hosking will reduce their shareholding.

More to follow...