Sources: £150m+ Crystal Palace plan gets green light
Crystal Palace have been given the green light to begin a £150million redevelopment of Selhurst Park next summer, Football Insider understands.
The Eagles have drawn up plans to build a new 13,500-capacity Main Stand while other areas of Selhurst Park are also set to be renovated.
Palace are also set to relocate their fan zone to the corner of the Holmesdale Road as part of their stadium overhaul.
The Athletic report that Palace have cleared new hurdles in their process of starting construction, including the relocation of nearby residents.
Football Insider understands that construction on the new stand is now scheduled to start in the summer of 2024.
Palace are currently in the process of hiring a main contractor to be responsible for their stadium project.
They have already agreed multiple preliminary deals to accelerate the process, including a multi-million pound agreement with Sainsburys for a plot of land nearby the venue.
The Londoners initially faced opposition from the local council regarding their handling of nearby citizens, but that issue has since been resolved.
Selhurst Park’s current capacity sits at 25,486, but the expanded Main Stand will grow capacity over 33,000.
The extra seats and hospitality sectors will provide a significant boost to matchday revenue at Palace, which was recorded at £14.1million in their 2021/22 accounts.
Palace’s initial budget for the stadium expansion was around £100million, but the price of the project has quickly soared to an expected £150million.