Source:
REUTERS/Peter Cziborra
[Saba
Sports News] According to British media reports, Crystal Palace has secured a
loan from the MGG Investment Group. This loan signifies that the club will be
selling a significant number of players during the summer transfer window. The
loan is reportedly guaranteed by the team’s future income from player
transfers. The funds acquired through this loan will be utilized for player
transactions and day-to-day operational expenses. It has become increasingly
common for Premier League clubs to obtain bridging loans from investment firms,
allowing them to receive early cash installments from other clubs. However, the
Crystal Palace and MGG Investment Group deal indicates that they are already
utilizing funds from anticipated future sales. The club’s financial accounts
for 2023 have not yet been released, but over the course of the previous three
years, Crystal Palace incurred total losses of £125 million. Furthermore, the
cost of renovating the Selhurst Park main stand has risen by 50%, totaling £150
million. Crystal Palace has secured additional funding from existing
shareholders to support the stadium redevelopment project and is actively
seeking outside investment.