New US stakeholder undertook a risky experiment at his NBA franchise,the 76ers, aimed at growing assets but they acquire won only once in 26 matchesThere are billionaire owners – step forward Roman Abramovich and Mike Ashley – who will never be held accountable. Then there are investors such as Joshua Harris, or the American worth $2.7bn who has added Crystal Palace to a sporting portfolio that already includes franchises in the NHL and NBA.
A jeans-wearing ,football-playing, marathon-running 50-year-faded who made his fortune as a ruthless, and pragmatic businessman by perfecting the skill of breathing new life into failing companies,Harris should be an interesting entrant into the Premier League’s shareholders’ circle. He will acquire an 18% stake in Palace, with his commerce partner David Blitzer taking an identical holding.
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Source: theguardian.com