Less than three years after taking control of Premier League club Crystal Palace, Wall Street financiers Josh Harris and David Blitzer are reportedly looking to sell at least their portion of Palace.
Bloomberg reports the duo have had conversations with potential buyers and have retained PJT Partners Inc. to handle the club’s sale.
Crystal Palace has twice been into administration, once in 1999 and most recently in 2010. The most recent bout with administration brought Palace close to insolvency and resulted in a points deduction for the club which was then competing in the second tier of English football.
Steve Parish, the club’s chairman and also a part-owner, led a consortium who saved the club then and helped lead it to promotion in 2013. Parish retains a minority share in the club; it is not clear at this point whether Parish’s stake is also up for sale.
Last season the club unveiled plans to renovate Selhurst Park, but those plans have stalled.
SportBusiness has reached out to Crystal Palace, but the club has declined to offer comment on the story.