Crystal Palace investment: John Textor appointed as new director
- Published
Crystal Palace finished 14th in the Premier League last season
Crystal Palace have announced new investment in the club, leading to the appointment of a fourth director.
American businessman John Textor joins chairman Steve Parish, Josh Harris and David Blitzer on the board.
The investment, in the region of £90m, has given new boss Patrick Vieira money to spend in the transfer market before the new Premier League season starts on Saturday with the Eagles at Chelsea.
The academy's status has also been upgraded to category one.
Five new players have arrived this summer including Joachim Andersen, who joins from Lyon having impressed on loan at Fulham last season, as well as Chelsea pair Marc Guehi and Conor Gallagher, Michael Olise and Remi Matthews.
Gallagher has joined on a season-long loan from the Blues so will be ineligible to make his debut against his parent club this weekend.
Chairman Parish, who has been in the role since 2010, said: "We have been looking for the right investment for the right investor for a while, both to progress the club and deal with the significant financial challenges of the past 18 months due to Covid.
"I'm delighted that search led us to John, who has invested significant sums, helping to facilitate the rejuvenation of the squad, bolster the balance sheet and enable the club to finalise the academy."
Textor, the founder of Facebank, said: "I have looked at many opportunities across European football in which to invest so I could follow my passion for football and have a meaningful stake in a club.
"Over the past six months of discussions I have also developed a real affinity to Crystal Palace, its history, the staff and, of course, most importantly the supporters who create an incredible atmosphere at every game - one I cannot wait to witness again when supporters return to fill Selhurst Park this season."
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