U.S. businessman Josh Harris is "on the verge" of completing his £100M ($147M) takeover of EPL side Crystal Palace, according to John Percy of the London TELEGRAPH. Harris and partner David Blitzer are "close to taking full control and could be officially unveiled early next week, following months of discussions" with the club. Harris, who also owns the NBA Philadelphia 76ers and NHL New Jersey Devils, is "confident of striking a deal within the next 48 hours and is already targeting a major redevelopment of Selhurst Park." Harris will also support Manager Alan Pardew in the summer with transfer funds. Crystal Palace Co-Chair Steve Parish is expected to stay on for an "indefinite period" and "concentrate on the day-to-day running of the club." The Premier League's "strict rules on ownership -- namely the fit and proper persons test -- has prolonged negotiations and it is only now that the finishing touches to the sale are in the hands of Harris's lawyers" (TELEGRAPH, 3/14). In London, Massoudi, Sender & Noble reported the group has been following Crystal Palace's progress "for much of this year and has been in on-and-off talks with its owners." Fears of relegation from the Premier League "threatened to scupper the proposed takeover, but Palace has revived on the pitch and its Premier League status is looking more secure." It sits in 12th place, with 10 games remaining in the season (FINANCIAL TIMES, 3/13).
