Stefan Borson shares good news for Crystal Palace after £125m deal agreed
Crystal Palace have made significant strides forward with their plans to redevelop Selhurst Park.
It was confirmed in August 2024 Palace had been granted planning permission to build a new Main Stand as they look to increase their stadium’s capacity.
The Selhurst Park redevelopment will take the number of seats in the stand from 5,200 to 13,500, ensuring the stadium’s capacity will rise to around 34,000.
Bloomberg reported on 12 December Goldman Sachs is leading a £125million loan deal to Palace to help finance their stadium project.
Chairman Steve Parish has revealed the work on expanding the Main Stand will begin in the new year.
Crystal Palace owners have ‘very strong relationship’ with lender
Former Man City financial adviser Stefan Borson exclusively told Football Insider falling interest rates will mean the stadium redevelopment will be cheaper for Palace.
Woody Johnson purchased shares at Selhurst Park over the summer, opening the south London club up to new opportunities.
Meanwhile, Josh Harris and David Blitzer also own a stake in the Eagles alongside Parish.
Speaking exclusively to Football Insider about the Goldman Sachs loan, Borson said: “Probably relationships from their ownership group have helped. I mean, they’ve already got Blitzer and Harris, who have got obviously very strong relationships also with people like Goldman Sachs.
“I don’t think it’s a surprise that they’ve been able to fund the build. It’s a fairly modest project at £125m. It’s the sort of project that banks like funding.
“They’ve got the security of the asset there themselves. It makes financial sense straight away, so it’s an easy lend in this context.
“Obviously, with interest rates falling globally, it’s going to make it a little bit cheaper as well for Crystal Palace to execute on that plan, so I think that’s all good for them.”
Crystal Palace stadium issue emerges
There have been suggestions Oliver Glasner’s side need to go further with their plans for Selhurst Park.
Former Everton CEO Keith Wyness told Football Insider Palace could fall behind their Premier League rivals even after completing their stadium expansion.
Selhurst Park is currently the fourth-smallest stadium in the Premier League with a capacity of 25,486.
However, even after the redevelopment of the Main Stand, there will still be 12 stadiums in the top flight bigger than Selhurst Park.
The Eagles’ revenue reached £189.2m in their latest published accounts for 2023-24, with their matchday income making up £13.8m of that figure.
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