Kieran Maguire makes ‘huge’ Crystal Palace claim after source’s £45m reveal
Crystal Palace will enjoy a ‘huge’ boost to their matchday revenue once Selhurst Park’s capacity is expanded.
That is the view of finance expert Kieran Maguire, who explained to Football Insider that the Eagles are trying to cement their position in the top flight after spending a decade in the Premier League.
As revealed by Football Insider (2 December), Palace chairman Steve Parish has made a plea to the club’s shareholders to raise £45million ahead of the summer.
The funds will be added to Palace’s infrastructure budget to be used for the expansion of Selhurst Park.
As per the club’s official website, Palace will construct a new main stand to grow the venue’s capacity from 26,000 to over 34,000.
Parish has previously claimed that the expansion will increase the club’s matchday revenue by around £20-£30million per season.
Maguire agrees that the expansion will provide a significant boost to matchday income and believes that the club’s academy investment is also a big step forward.
“Crystal Palace can certainly provide a huge increase to their matchday revenue with the expansion of the new stadium,” Maguire told Football Insider’s Sean Fisher.
“There are not many other clubs in the area and while Croydon is not noted for necessarily being upwardly mobile, in terms of hospitality boxes there will still be wealthy fans and companies wanting to interact with the club.
“This will only help Palace going forward.
“They have been in the Premier League for a decade now and they will want to maintain that position.
“The upgrade of their academy to category 1 is another large step forward and there is a very large demographic they can tap into with increased facilities.“
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