Steve Parish’s plans to redevelop Selhurst Park have taken a step forward after Lendlease secured the contract to work with Crystal Palace.
The construction company have beaten McLaren to the £150m task of transforming Selhurst Park – according to Building – with works expected to begin in 2025 and last for 30 months.
Now – after speaking to Finance Expert Adam Williams – We Are Palace have secured further information to bring you about Steve Parish‘s plans to change the home of Crystal Palace…
Steve Parish has £20m masterplan as Crystal Palace aim to bridge gap on rivals
Speaking to We Are Palace about the financial details behind Selhurst Park’s redevelopment, Williams said: “Palace’s matchday income for the 2022/23 campaign, the last financial year for which data is available, was £12.3m. In that season, only Brentford, Bournemouth and Nottingham Forest earned less through the turnstiles.
“The first two clubs have significantly smaller capacities than Palace, which highlights that Palace are struggling on a cash-per-fan basis as well as an aggregate basis.
“I think the new club shop, museum and cafe that are part of the redevelopment project can help with that. There are commercial benefits too, with sponsors willing to pay more to associate themselves with a club with a revamped stadium.
“Based on 2022/23’s £12.3m total, an 8,000 capacity increase would see Palace’s matchday income climb to more than £16m. That would take them into a new peer group with the likes of Leicester, Aston Villa, Everton and Wolves, all of whom earned between £15m and £19m in 2022/23.
“In reality, the expansion would allow Palace to charge a premium on tickets, as well as creating more hospitality facilities, so I’d expect matchday income to rise closer to the £20m mark as a result.
“That is still oceans behind the so-called ‘Big Six’ as well as the likes of Newcastle and West Ham, who both earn around £40m per season, but this development is part of Steve Parish’s masterplan when it comes to sustainable growth, and it will add millions to the playing budget every season.”
Plans will take Eagles to the next level
Crystal Palace have been a Premier League club for over ten consecutive seasons now, so it is time for changes to be made which take us away from the likes of Brentford and Bournemouth.
Dougie Freedman’s recruitment of gems such as Adam Wharton and Daniel Munoz has helped us do that on the pitch, but off the field, we are still some way behind where most settled Premier League clubs find themselves.
READ MORE: Dougie Freedman now flying abroad for talks with £15m player who Crystal Palace nearly signed before
Hopefully, there are no setbacks in Parish’s plans to redevelop Selhurst Park, and construction goes as expected.
