By Kieran Maguire

7th Nov, 2021 | 8:00am

Kieran Maguire: Crystal Palace handed 'big boost' as £100m plan edges closer

Crystal Palace will use a recent £82million cash injection to finance the development of Selhurst Park.

That is according to finance guru Kieran Maguire, speaking exclusively to Football Insider about the latest update from Palace’s finance department.

American businessman John Textor’s £82million investment in the club was confirmed in documents filed with Companies House on 3 November.

The South London club have long harboured ambitions to expand their 25,000-capacity home and were given the green light nearly three years ago.

Chairman Steve Parish plans to redevelop the Main Stand at Selhurst Park at a cost of £100m, according to the Evening Standard in November 2020.

A number of logistical hurdles have slowed the process but Parish and the main Palace shareholders remain committed to the expansion.

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And Textor’s £82m investment will go a long way towards making the plans a reality, predicts Maguire.

He told Football Insider correspondent Adam Williams: “Importantly, it gives them the opportunity to go forward in terms of stadium development.

“That is very important on a long-term basis because the club are well aware that there is not a lot of competition in South London.

“The opportunity to have hospitality boxes and greater utilisation of the stadium is one that can generate a financial return.

“So I imagine this will be a big boost for Cyrstal Palace in terms of the capital expenditure that will be required for them to expand the ground.”

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