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Proceeds from Wilfried Zaha sale to Manchester United could fund new Crystal Palace stadium

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CRYSTAL Palace co-chairman Stephen Browett says the proceeds from Wilfried Zaha's move to Manchester United could be used to fund a new stadium.

Browett this week told the Advertiser that some money from the £15 million transfer will be kept aside for a potential move to Crystal Palace Park or the redevelopment of the Eagles' current Selhurst Park home.

The chairman also hailed the move – which will see England international Zaha loaned back to Palace until the end of the season – as "the best possible deal for Crystal Palace Football Club".

On the stadium issue, the co-chairman said: "Some [of the money] will be spent on working towards a new ground – we need to put something aside for work on that.

"And once we get planning and architects on that to fund it, some will be held back for that, and some of it will help fund our losses.

"The Crystal Palace Park is still an outside chance.

"It would be great to be in the park, but I'd say that redeveloping Selhurst is the most likely option, simply because we already own it, it's already in Croydon and it's already a football stadium.

"That makes it a lot easier to get the planning permission."

With an initial £10m in the kitty with a further £5m to come, Browett says the money will be spread evenly across many areas, including transfers and the club's wage bill.

"Some of the money from the sale will be used on transfers and player wages," he said.

"It's well known that we run a club at about a £3-5 million loss. Our wage bill [which is well documented to be at £10 million] is about £3 million more than it should be for us to break even.

"But it is ultimately funded by player sales or by the directors putting in their money."

Zaha will remain at the club until the summer and Browett believes Palace have got a better deal than previous transfers involving their younger starlets.

He said: "We think we've come from a position of strength, whereas in the past Palace have been preyed upon perhaps, and certainly Victor Moses was undersold because Palace were in a fairly desperate state.

"Historically, with the exception of Andrew Johnson, Palace have never really maximised the transfer fee on a player, but with Wilfried, we didn't need to sell him or we didn't want to sell him.

"So, Manchester United had to first agree that they couldn't take him until the end of the season because our focus is on getting promoted more than anything else.

"They then had to agree what was a record price for an English player for outside the Premier League. It's always sad to see one of our own go, but I think we did the best possible deal for Crystal Palace Football Club.

"We certainly did a good deal for Wilfried, as he and his family are secured for life pretty much with a five-and-a-half year deal with Manchester United.

"He's got a huge soft spot for Palace and wants us to get promoted, but ultimately he's a young professional footballer and all young professionals would like to be on the big stage, which he will be at Old Trafford."

Proceeds from Wilfried Zaha sale to Manchester United could fund new Crystal Palace stadium


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