Who Really Owns Crystal Palace?
Thaksin Shinawatra is rumoured to be in talks to buy the club
With fresh rumours that Crystal Palace is about to be sold a lot of fans are asking who owns the controlling share of the club and can Steve Parish veto any sale.
According to reports former Manchester City owner Thaksin Shinawatra is in talks to purchase a controlling share in the club.
Shinawatra, the former Prime Minister of Thailand, is currently living in exile from his homeland after being found guilty of corruption and is said to be “engaged in discussions” about a takeover.
Fit and proper?
The Premier League have a ‘fit and proper person’ test for people taking over a Premier League club. Shinawatra was forces to sell his controlling share in Manchester City after being wanted for corruption in Thailand.
It remains to be seen if a person who has been convicted of corruption would pass such a test.
According to the official club accounts the ownership of the club are as follows:
Steve Parish: 18%
Steve Browett: 5%
Jeremy Hosking: 5%
Martin Long: 2.5%
Palace Holdco LP (a limited partnership registered in Delaware, USA): 67.5%
Palace Parallel LLC (a company also registered in Delaware, USA): 1.5%.
Other miscellaneous shareholders: 0.5%
Steve Parish has said in the past that himself, Josh Harris and David Blitzer have the same share level each. This doesn’t seem to make sense when taking into consideration much the American registered companies own.
How much are the owners worth?
According to the most recent figures, the personal wealth of the owners are as follows:
Josh Harris: $3.4B (Apollo Global Management)
David Blitzer: $1.3B (Blackstone Group)
Steve Parish: $65M (TAG Worldwide)
Steve Browett: $110M (Farr Vintners)
Jeremy Hosking: $250M (Marathon Asset Management)
Martin Long: 100M (Churchill Insurance)
It remains to be seen what will come of the latest rumours but it is an open secret that Harris and Blitzer want to sell their share of the club.
All in all it looks like it could be an interesting summer at all levels of the club.