Crystal Palace have agreed a deal with two American businessmen for an investment worth £100 million in return for an 18% each stake in the Premier League side.
Palace chairman, Steve Parish, will retain his position within the club and agreed the investment deal with US tycoons, Josh Harris and David Blitzer as they look to take the South London side further forward.
The deal, as reported by the Daily Mail, states that there will be a further £50 million invested by the Americans put towards an expansion and general improvements at Selhurst Park. A portion of the money will also go towards strengthening the squad - allowing the team to continue to challenge in the Premier League on a consistent basis.
SIGN UP NOW
Want to become a GMS writer? Sign up now and submit a 250 word test article: http://gms.to/haveyoursay4
Harris and Blitzer are already involved within the sporting world at home, owning NBA franchise Philadelphia 76ers and NHL organisation New Jersey Devils and have now added the Eagles to their sporting portfolio.
It is believed the deal has been in the works for over 18-months and it is also thought to be bigger than was previously expected, however, Steve Parish - who will still oversee the day-to-day running of the club - has warned the club's supporters not to expect a huge spending spree in the January transfer window.
It is believed that Harris wants the club to keep its south London roots and continue to bring players through the academy level - something boss Alan Pardew is also keen on implementing.
The Palace boss said: “The traditions of this football club are players from working-class backgrounds growing up in tough environments and we have utilised the street football of the players that we produce.
"The first team represents this and we will not ever stop putting players like Wilfried Zaha, Yannick Bolasie and Bakary Sako on the pitch because that is us."