A PREMIER LEAGUE club are set to receive a cash injection to fund upgrades to their stadium.
Goldman Sachs Group Inc. will reportedly grant a £125 million loan for the London side.
Crystal Palace plan to expand Selhurst Park’s capacity from roughly 26,000 seats to about 34,000.
Their longer term aim is to raise the club’s ability to compete with their Premier League rivals who have larger financial resources.
And with costs rising, Bloomberg claim that the investment banking giant has raised a helping hand with a huge loan on favourable terms.
While the redevelopment was initially expected to cost just over £100 million, rising inflation and the complexity of building onto the existing site could push the overall cost beyond £150 million.
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Chairman Steve Parish said that work on upgrading the main stand is set to begin in January.
But representatives from both Palace and Goldman Sachs have yet to comment on the deal.
People briefed on the transaction said the loan deal will replace a previous financing arrangement from another backer.
It offers more favourable terms, including a longer repayment period aligned with the stadium project rather than tied to broadcast income.
The use of stadium-backed debt to finance improvements reflects a broader trend across European football.
Clubs like Barcelona, Tottenham, Everton and Newcastle are also turning to large-scale borrowing to fund major stadium developments.
The financing comes at a time when Palace are hitting new heights on the pitch.
In May, Oliver Glasner’s men beat Manchester City in the FA Cup final at Wembley.
But they lost their right to play in the Europa League, given to the FA Cup winners, after Uefa ruled they had breached multi-club ownership rules linked to John Textor’s former 40% stake.
That issue has since been resolved following the sale of Textor’s shares to New York Jets owner Woody Johnson.
Despite limited resources, Palace are fifth in the Premier League and ninth in the Conference League league phase standings.
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