Crystal Palace valued at £900m and hire Raine Group to explore investment or sale

Crystal Palace's owners have determined the club's value at £900 million, prompting the engagement of the Raine Group to explore investment or potential sale options, according to several sources speaking to City AM. This valuation is nearly double the £190 million price Woody Johnson paid for a 43% stake in the south London club over a year ago.

Johnson, along with co-owners Josh Harris, David Blitzer, and chairman Steve Parish, contend that the increasing values of sports teams, the limited number of Premier League clubs in London, and Palace's recent triumph in the Conference League justify such a high asking price. Although Palace has not commented on the matter, they have openly admitted the need for investment to complete their Selhurst Park expansion project.

The club's management insists that investment, rather than a sale, is their current priority. The NFL, NBA, and Major League Baseball have seen record-high franchise values this year, while Formula 1 team valuations have surged due to the sport's growing global popularity and strict cost controls. In a similar vein, English football clubs have been eager to attract the attention of investors following Jeff Bezos' significant investment in Liverpool, which reportedly valued the club at £5.5 billion in August.

As a result, the Raine Group, a prominent broker involved in the sale processes for Chelsea, Manchester United, and The Hundred cricket, has been approached by Crystal Palace to assist in the club's search for fresh investment. The club's bid for investment is driven by the stalled plans to renovate the aging Selhurst Park stadium, which includes the construction of a new glass-fronted main stand and an increase in capacity from 25,000 to 34,000.

Palace's chairman Steve Parish admitted that the club is currently working with various parties, including banks, to secure the necessary funding for the project.