Premier League: American billionaire Josh Harris closes in on investment in Crystal Palace FC

Josh Harris, an American sports investor and co-owner of the private-equity firm Apollo Global Management, is close to purchasing a minority stake in Crystal Palace FC (Barclays Premier League, England), according to a report in the Daily Mail on 12/11/2015.

Although unconfirmed by the club, the report is credible. Harris and his colleague David Blitzer, a senior executive at the financial-services firm Blackstone, had discussed a full takeover last season, only for the talks to break down in July. Josh Harris is notably the principal owner of the American sports franchises the Philadelphia 76ers (NBA) and the New Jersey Devils (NHL).

Negotiations have turned towards a minority investment instead, which would permit a participation in any future financial success the club might enjoy, with less of the capital risk. Josh Harris and David Blitzer are said in separate reports to be in line for an 18% stake in Palace in a deal said to value Crystal Palace in excess of £100m (€141.7m).