Keith Wyness 'very concerned' by 'extremely high' Crystal Palace valuation 'I've been hearing'
Crystal Palace's American owners have set an "extremely high valuation" as they begin to explore a potential sale of the club.
That is according to former Everton chief executive Keith Wyness, speaking exclusively to Football Insider, who believes that now is the "best chance" for the club to be sold after FA Cup and UEFA Conference League triumphs.
This comes after the news that the Eagles' billionaire owners Woody Johnson, Josh Harris and David Blitzer are considering cashing in.
Wyness has emphasised that there is limited "growth potential" with Palace's Selhurst Park home, and he expects that to serve as a major red flag for potential buyers.
The South Londoners have plans to up their capacity to 34,000 with the redevelopment of a stand, but Wyness believes that there is no scope for wholesale changes, given their surroundings.
He has also raised serious questions regarding the valuation that has been put in place, as he feels it could force potential buyers away.
Keith Wyness: Crystal Palace owners don't want to sell unless they get a premium
Everton’s former chief Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – believes that Palace's owners only truly want to sell up if they can secure a premium price.
The club are enjoying a golden period in their history, but the former boardroom man is adamant that footballing success will not come into the equation for potential investors.
Speaking on the latest edition of Football Insider's Inside Track podcast, Wyness made it clear that the club's owners could be in for a rude awakening over their valuation.
"If I were going to sell Crystal Palace, I'd probably want to do it right now on the back of Conference League and FA Cup wins. It's probably the best chance for Palace to go," he said.
"I'd be very concerned about the valuations I've been hearing in the marketplace. It seems to me that they're testing the market to see if there are any buyers at an extremely high valuation.
"The reality is with Palace that there's one very expensive stand renovation coming up that is not going to be easy or cheap. That will help going forward, but it's not really a major game-changer in terms of capacity.
"There isn't a lot of other growth potential around Selhurst Park. They're hemmed in there, and as we all know, the transportation links are a nightmare.
"They're trying to sell on the back of football successes, and today's investor market isn't really that impressed with those things because they know how quickly they can disappear. It really isn't a measure that gets you a lot of valuation increase.
"I think at the moment they may not find the buyers at the price anywhere near what they're talking about, and I don't think they really want to sell unless they get a premium."
Steve Parish could be forced out of Crystal Palace imminently
Former Manchester City financial advisor Stefan Borson recently told Football Insider that Palace's chairman and minority owner Steve Parish is facing a hugely uncertain future at the club.
The lifelong Eagles fan holds a 10 per cent share in the club, but could easily be forced out if the Americans sell their shares.
Borson predicted that Parish would likely be told that he was unwanted by any new buyer, and subsequently be forced into selling.
Parish divides opinion among the fanbase, but he has been a constant behind the scenes amid all of the club's recent progress.