Key facts
- Crystal Palace co-owner David Blitzer is part of a group planning a £1 billion stadium redevelopment.
- The project aims to increase Selhurst Park's capacity from 26,000 to over 34,000 seats.
- The Main Stand will expand from 5,200 seats to accommodate 13,500 supporters.
- Crystal Palace secured a £125 million loan from a consortium led by Goldman Sachs Group Inc.
- The club intends to keep Selhurst Park operational during matchdays throughout construction.
- The total project cost is estimated at approximately £200 million, with potential for further investment.
Crystal Palace co-owner David Blitzer is part of a group planning a significant redevelopment of the club's Selhurst Park stadium, with an estimated cost of around £1 billion. The project involves demolishing six residential properties on Wooderson Close, a move that resolves a long-standing land acquisition bottleneck that had stalled progress for years.
The redevelopment aims to replace the historic 102-year-old Main Stand with a modern, three-tier structure, increasing the stadium's total capacity from approximately 26,000 seats to over 34,000. The new Main Stand alone will expand from 5,200 seats to accommodate 13,500 supporters.
Financing for the massive undertaking includes a £125 million loan secured from a consortium led by Goldman Sachs Group Inc. However, the total project costs have escalated since its initial unveiling in 2017, with current estimates at approximately £200 million. The club intends to keep Selhurst Park fully operational on matchdays during construction by building the new stand over and around the existing one. Reports suggest that the ownership group, which includes Blitzer, Woody Johnson, and Josh Harris, may be exploring options for a full sale or minority investment, potentially to help cover the stadium costs.