Crystal Palace are looking to raise around £45million before the end of the current season, Football Insider understands.
Palace chairman Steve Parish is looking to raise funds to add to the club’s infrastructure budget for their stadium expansion project.
The London club are looking to start the expansion of Selhurst Park this summer following the conclusion of the 2023/24 season.
As per the official club website, Palace are looking to construct a new main stand at Selhurst Park to grow the venue’s capacity from 26,000 to over 34,000.
The stadium development will include a new club shop, museum and cafe as well as more general admission seats and new corporate and hospitality facilities.
Bloomberg report that the cost of the stadium project is set to exceed the initial £150million budget that was set.
It is understood that Parish’s plan includes raising funds through Palace’s majority shareholders including himself, John Textor, Josh Harris and David Blitzer.
Textor owns 40 percent of the club’s shares following his investment in 2021 while a company controlled by Harris and Blitzer owns another 40 percent.
Parish has previously stated that he believes the expansion will boost Palace’s overall matchday revenue by around £20-£30million per season once completed.
Palace’s latest 2021/22 accounts showed that the club generated revenue of £160million with a pre-tax loss of £24million.
The London club also posted losses of £40.2million in their accounts from the year prior.
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