- Crystal Palace has taken out a loan from MGG Investment Group
- The money must be used to finance player trading and day-to-day operating costs
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Crystal Palace has taken out a loan from the American lender MGG Investment Group. This suggests that the club is preparing for a busy summer in the transfer market with a significant number of player sales.
It is believed the loan is secured against future transfer notes, with sources involved telling Mail Sport the money will be used to fund player trading and day-to-day operating costs.
A number of Premier League clubs have increasingly used so-called bridging loans from investment firms to gain advance access to cash owed in transfer installments from rivals, but Palace’s deal with MGG signals they are making plans for future sales.
The club has not received a significant transfer fee since Norwegian striker Alexander Sorloth was sold to Red Bull Leipzig for £18 million four years ago, so any future payments will be negligible.
However, Palace expect a number of players to attract offers from bigger clubs this summer, with Michael Olise, Eberechi Eze and Marc Guehi all in demand.
Crystal Palace have taken out a loan in preparation for a busy summer transfer window
Michael Olise and Eberechi Eze are among the Palace players in high demand at the moment
Crystal Palace defender Marc Guehi is another player attracting the attention of rival clubs
The club are yet to publish their 2023 accounts but have made a combined loss of more than £125 million over the past three years and have since been hit by a 50 per cent increase in the cost of redeveloping the main stand at Selhurst Park to £ 150 million. .
Palace have received additional funding from their existing shareholders to help finance the redevelopment of the stadium, but are also seeking external investment.
Mail Sport revealed in January that Palace had held talks with football club sales specialist Raine Group, which led the Chelsea sale process two years ago, as well as the Manchester United auction, which led to Sir Jim Ratcliffe buying 25 percent of the club.
MGG and Palace declined to comment.