Crystal Palace nearing £90m takeover by US billionaire

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Crystal Palace are near to being bought by an American consortium led by Josh Harris, a US sports team owner, reports the Guardian.

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The 49-year-old already owns the Philadelphia 76ers in the NBA, and the together with David Blitzer took over the NHL team New Jersey Devils in 2013, so he has experience of owning sports sides in the past. He has been in interested in the Eagles for a while, having first spoken to the owners last summer.

Current co-owner Steve Parish will keep a 15% stake in the team should the takeover go through, and the other owners will go down to 5%. US businessmen David Novak, Bret Pearlman, Marc Leder, Arthur Wrubel, Anthony Ignaczak, Rodgers Krouse and Matthew Hulsizer will also be buying stakes in the club.

It is unknown what Harris would plan to do with relation to transfer funds should he finish this deal. However, with a net worth of over £1.5 billion according to Forbes he definitely has the money to invest heavily if he wishes.

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