November 12 2015

Steve Parish (Photo: Andy Roberts)

Crystal Palace co-chairman Steve Parish has confirmed advanced discussions are underway with US investors.

American businessmen Josh Harris and David Blitzer plan to invest a large stake into the club and become majority shareholders alonside Parish.

Current owners Stephen Browett, Jermey Hosking and Martin Long will take lower shareholdings and Parish is hopeful the deal will be completed by Christmas.

"There are very serious conversations going on and I will remain the single largest shareholder along with David and Josh," Parish told Sky Sports News HQ.

"The day-to-day decision making control will remain the same. They will bring some fresh ideas and some fresh input which will be great.

"But I think the guys recognise that having a UK partner retains the soul of the football club which is really important and it's important to me that my three other partners will stay involved as well.

"It will be a much broader investment base and everyone is signing up to a commitment to improve the stadium. So it's an exciting time and if it comes off I think we can make some major developments for the club."