Crystal Palace manager Alan Pardew has said the club can "embark on a new era" after a £100 million deal was agreed with American investors.
A consortium led by Joshua Harris and David Blitzer, the owners of NBA team Philadelphia 76ers and NHL outfit New Jersey Devils, is reported to have has bought a sizeable shareholding in the south London club.
The development comes after a protracted negotiating process with the new investors that has taken almost a year and a half.
It means plans to improve and extend Palace's Selhurst Park ground will soon be put in place, with the new money enabling work to begin quickly.