English Premier League club Crystal Palace’s stadium renovation plans which are set to swing into action this month have been given a boost with a £125 million ($168 million) loan deal.
Bloomberg said the new loan, lead by Goldman Sachs Group, replaces a previous financing arrangement from another backer.
The terms of the Goldman Sachs loan are more favorable and offer a longer repayment period tied to the stadium redevelopment, sources said. The prior loan had been secured against the club’s broadcast income.
Crystal Palace F.C., commonly referred to as simply Palace, is a professional football club based in Selhurst, South London, England (UK) which competes in the Premier League, the top tier of English football.
The 25,486-capacity Selhurst Park is a football stadium in Selhurst, in the London Borough of Croydon, England (UK) which serves as the home ground of the Premier League club Crystal Palace F.C.
The Selhurst Park stadium redevelopment, approved in 2018, is scheduled to begin construction in January 2026 with demolition of the Main Stand and continue through the 2026–27 season.
The new stand will add 13,500 seats, increasing the stadium’s capacity to more than 34,000, and will include modern hospitality facilities, commercial space, improved disabled access and community-use areas.
After years of delay caused by the pandemic, construction inflation and land negotiations, the project is now expected to become one of the largest active building sites in South London during 2026–27.
The economic impact will extend beyond football, bringing construction employment, increased match-day spending and year-round event revenue into the borough.
Bloomberg further stated that while the redevelopment was initially projected to cost over £100 million, concerns have arisen that rising inflation and the complexities of building onto the existing site have pushed the price tag past £150 million.
Crystal Palace is currently enjoying the most successful period in its history on the pitch, having won its first major trophy last season by defeating Manchester City in the FA Cup Final at Wembley.
The club is owned by a consortium that includes chairman Steve Parish and three American investors: Josh Harris, David Blitzer, and Woody Johnson.
The current Main Stand was originally built 100 years ago and holds 5,200. The total capacity of Selhurst Park will rise from 25,486 to more than 34,000 once the works are completed.
Inspired by the club’s heritage, the design pays homage to the original Crystal Palace on Sydenham Hill.
The new building will achieve high standards of sustainable design, including its operation achieving net zero carbon targets, in line with planning policy.
It will have three tiers of seating, as well as improved access for supporters with disabilities, a new club shop, museum and café for visitors to Croydon’s Premier League club.
Crystal Palace Chairman Parish confirmed in an interview with The Athletic that the long-awaited stadium redevelopment is set to begin in January.
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