Crystal Palace takeover: Kieran Maguire stunned Steve Parish has demanded £
.750m for Crystal Palace as they struggle to find new owners willing To work with Steve Parish.
That’s the view of financial expert Kieran Maguire, who exclusively told Football Insider that Palace will struggle to complete the deal due to their ongoing Premier League losses.
The Daily Mail reports that Palace have opened talks with the Raine Group about a possible takeover deal.
The Raine Group played a key role in the recent deal to buy Chelsea, along with Todd Boehly and Sir Jim Ratcliffe’s investment in Manchester United.
The report also adds that independent experts valued Palace at £750 million before the takeover talks.
Maguire believes Palace’s valuation is “excessive” and wonders who would buy the club at that price given its infrastructure and chairman Parish’s problems.
“Given that Palace were worth around £220m just a few years ago, £750m seems like too much for a small club,” Maguire told Football Insider’s Sean Fisher.
“Newcastle paid £300 million two years ago and Bournemouth were sold for £120 million a year ago.
“So while the London factor is useful, Palace’s financial results show they have lost money almost every season since they came. on the market. Premier League
“So who pays £750 million for a company where you have a chairman in Steve Parish who wants to control the club despite only owning 10% of the shares.
“They also need significant investment in infrastructure and they are not making a profit – these factors add up to a hefty sum of £750 million.”
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