Crystal Palace takeover: Kieran Maguire stunned by Steve Parish demand
A £750million valuation is ‘excessive’ for Crystal Palace as they will struggle to find new owners willing to work with Steve Parish.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that Palace will struggle to complete a takeover deal due to their continuous losses in the Premier League.
As reported by the Daily Mail, Palace have entered talks with the Raine Group over a potential takeover deal.
Raine Group played a pivotal role in the recent Chelsea takeover deal with Todd Boehly and Sir Jim Ratcliffe’s investment at Manchester United.
The report also adds that independent experts have valued Palace at £750million ahead of takeover talks.
Maguire believes the valuation of Palace is ‘excessive’ and questions who would purchase the club at that price given their issues with infrastructure and chairman Parish.
“Given that Palace were being valued around about £220million only a couple of years ago, £750million does seem excessive for a small club,” Maguire told Football Insider’s Sean Fisher.
“Newcastle went for £300million two years ago and Bournemouth were sold for £120million a year ago.
“So while there is a London factor which is a benefit, Palace’s financial results show they’ve lost money in practically every season on an operational level since they came to the Premier League.
“So who’s going to pay £750million for a business where you’ve got a chairman in Steve Parish who wants to control the club despite owning just 10 percent of the shares.
“They also need substantial investment in infrastructure and they’re not making profits – with those factors together a £750million valuation seems high.“
In other news, Crystal Palace respond to Blackburn Rovers transfer demand – they ‘want him now’
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