Crystal Palace are a club on the up. After years of careful consolidation with Roy Hodgson, the start of an exciting new era under Patrick Vieira has fans dreaming again.
A vibrant team packed with young talent, and playing attractive football, has reached an FA Cup semi-final and the hope is that this is just the start of a successful period at Selhurst Park.
But there have been fears that something out of Palace’s control could put their recent progress at risk. Their co-owners Josh Harris and David Blitzer are believed to be the principal financial backers of the consortium fronted by Sir Martin Broughton that is bidding to buy Chelsea.
The American pair own around 22 per cent of Palace and, should their group be successful in buying Chelsea from Roman Abramovich, would need to sell that stake to comply with Premier League rules.
Palace fans, understandably, have questions over what that means for their club, given the two men who bankrolled Palace through the pandemic may be walking away just as things appear to be getting good.
But, should Harris and Blitzer leave, their departure would not derail Palace’s rise. Had they faced this prospect a year ago, it might have been a different story. But the Eagles are in a much stronger position now, financially and on the pitch.
Not only is the team excelling under Vieira, highlighted by England call-ups for Marc Guehi, Tyrick Mitchell and Conor Gallagher, but the squad is more valuable and the financial outlook is bright.
In Steve Parish, the chairman who holds an 11 per cent stake in the club he saved from liquidation in 2010, they have a figurehead who will lead the club to an unprecedented 10th consecutive campaign in the top-flight next season.
Parish has worked through some dark times at Selhurst Park but his guidance has welcomed investment, and security, from the likes of Harris and Blitzer and ensured the club has never lived beyond its means.
Blitzer and Harris were able to step in and write cheques that Parish could not during the pandemic, loaning the club tens of millions to keep them going during football’s shutdown.
That debt is understood to have been largely, or even entirely, paid off thanks to further American investment. John Textor, a tech entrepreneur, took a near 40 per cent stake in Crystal Palace last year, with the funds from his investment being used to pay off debts and ensure Palace are on sound financial footing.
Textor is not on the same level in terms of wealth as Blitzer and Harris, but he is by no means short of cash. He also owns Belgian team RWD Molenbeek and Botafogo in Brazil, and is now eyeing more additions in Ligue 1 and Spain.
The 56-year-old stands ready and waiting to snap up the shares Blitzer and Harris would have to sell should they succeed in their bid for Chelsea. Both Textor and Parish have first refusal on their shares and both have the funds to take them on, so there are no fears about short-term cash problems at Selhurst Park if Harris and Blitzer decide to walk away.
"They have got a pretty solid financial setup," football finance expert and host of the Price of Football Podcast, Kieran Maguire, tells Standard Sport.
"Palace have got no money worries in my book, they sold [Aaron] Wan-Bissaka [to Manchester United] for £45million and they’ve got England defenders now that they could sell for £50m a piece.
"There is no need to sell but if push came to shove they have got very desirable assets.
"They have got no worries and Harris and Blitzer would want to go out on a relative high anyway. If they go out having stiffed Palace, Chelsea fans are going to be apprehensive."
However that split of shares is divided, Parish will remain at the forefront in terms of the day-to-day running of the club and he and Textor, who have been kept informed on the Chelsea process during their Friday meetings with Palace’s principal owners, share the same ambition for their club.
The £20m redevelopment of the academy site has been completed and plans for investment in Vieira’s team in the summer would not be hurt should Blitzer and Harris walk away. Parish also remains committed to improving the main stand at Selhurst Park.
The feelgood factor at Selhurst Park is such that minority shareholders in America who paid little attention before are now regularly attending games and it is thought some would be keen to increase their shareholding should the chance arise.
Parish, keen to retain his position of day-to-day control, is thought to prefer further outside investment in order to avoid Textor becoming a majority shareholder. And if he manages to get a stake in the club on the market, there will likely be no shortage of interested parties.
"There is a lot of money chasing relatively few football clubs at the moment, especially with American investors," says Maguire.
"If Chelsea goes to American investors, we’re going to have Americans owning or being involved in nine out of 20 Premier League clubs.
"It is Premier League and it is London. Those two things are very attractive."
Other sources have even raised the prospect of those who failed in bids to buy Chelsea casting their eye to Palace in order to get a slice of the Premier League pie, while of course Blitzer and Harris could remain should their bid fail.
They would certainly remain welcome at the table when it comes to the owners and fans have shown little anger towards their efforts to relocate in London.
Many things remain up in the air around Chelsea, but one thing for certain is that whatever ripple from that sale comes Palace’s way, they are ready and waiting to comfortably ride it out.
