Crystal Palace Takeover Talks Break Down With Chinese Investors as Eagles Look Ahead to New Season
Talks over a potential takeover bid for Crystal Palace have reportedly broken down with Chinese investors.
A report by The Times claims the Eagles have rejected a takeover bid from the Shanghai Naisi Investment Management Centre, with the interested buyers reportedly unwilling to match the £220m asking price.
Reports emerged in April that Chinese marketing company Double Edged Sports, which owns La Liga outfit Granada, were considering a bid to take over the London side, however, talks have broken down after months of negotiations.
LONDON, ENGLAND - MAY 14: Luka Milivojevic of Crystal Palace celebrates scoring his sides third goal with his Crystal Palace team mates during the Premier League match between Crystal Palace and Hull City at Selhurst Park on May 14, 2017 in London, England. (Photo by Steve Bardens/Getty Images)
Steve Bardens/GettyImages
The report suggests that Chinese businessman, Jiang Lizhang, has met with lawyers representing Palace, but an agreement could not be reached.
Speaking in 2015, Palace chairman Steve Parish told the Croydon Advertiser that he will only do business with potential buyers if he believes it is in the best interest of the football club.
“You want somebody who isn’t going to be a ‘maybe’ when they look at doing this deal or that deal,” said Parish.
Before Josh Harris and David Blitzer invested in Palace a couple years ago, Parish admits he wasn’t an easy man to deal with as the duo showed genuine interest in being part of the club.
Parish said: "I was difficult, I guess, for what I thought was right for the club. I wanted Josh and David to take their time and learn about Palace.
Crystal Palace chairman Steve Parish speaks at a press conference to unveil former Dutch international great Frank de Boer as the new manager of Crystal Palace Football Club in London on June 26, 2017. / AFP PHOTO / CHRIS J RATCLIFFE (Photo credit should read CHRIS J RATCLIFFE/AFP/Getty Images)
CHRIS J RATCLIFFE/GettyImages
"We have had some difficult times when talking to them with managers going and stuff like that, so it's been good for them to watch and see how I work and get this period of stability.
"Then we could take time to talk when we knew the club was on an even footing. They met Alan (Pardew) and they really bought into him as well – and that was very important for me.
"It's about the long term future of the club and I wanted to get people in who understood what we're all about and what we're trying to achieve. And frankly, how much it matters."
“It’s not easy to come and buy a bit of Crystal Palace.”
