Two people with "direct knowledge of the talks" said that Apollo Global Management co-Founder Josh Harris "is close to an agreement" to buy EPL side Crystal Palace, a deal that would make him the fifth owner of both a major U.S. sports franchise and a team in the EPL, according to Soshnick & Panja of BLOOMBERG. The people "requested anonymity" because the contract is not complete. Harris, who owns the NBA's Philadelphia 76ers and the NHL's New Jersey Devils, "did not immediately respond" to a telephone message or an e-mail seeking comment. Palace co-Chair and part owner Steve Parish did not "return a telephone message." Galatioto Sports Partners Founder Sal Galatioto, who represented Comcast-Spectacor in its sale of the 76ers to Harris, said, “Josh obviously knows how to run pro sports franchises. It’s a very interesting investment that should be a very good one for him over the long run. English Premier League soccer is arguably the best soccer in the world and it’s very valuable media content. It’s growing in other parts of the world, especially North America.” Harris bought the NBA’s 76ers in '11 and added the NHL’s Devils and its arena, the Prudential Center in Newark, last year. Parish "would remain with the club and run it for Harris, one of the people said." For the year ended June 30, 2010, the ownership group known as CPFC2010 "had a profit" of £3.6M on sales of £14.5M. The current owners "purchased the club’s training ground" last year for £2.3M. That "came after they bought back its stadium, Selhurst Park, from Lloyds Bank following the collapse of a company that previously owned the facility" (BLOOMBERG, 10/24). In London, Dominic Fifield wrote Harris "has been seeking to invest in the English game for some time and, with his business partner, David Blitzer, sounded out his compatriot Randy Lerner over a potential purchase of Aston Villa this year." Palace is "one of a number of prospective investment opportunities he is considering as he seeks a foothold in the Premier League." Harris "was estimated" to be worth $2.1B. The 49-year-old’s enthusiasm in buying Villa "appeared to wane over the summer." Villa is joined by ManU, Liverpool, Sunderland and Arsenal "in having American owners" (GUARDIAN, 10/24).
