Crystal Palace FC have just completed the most successful two-season period in the club’s history. Following their FA Cup triumph in 2024/25, the club added both the Community Shield and the UEFA Conference League to their trophy cabinet in 2025/26, securing three major honours within a 12-month period.
The achievement is particularly noteworthy given Crystal Palace’s historical profile. Since securing promotion to the Premier League in 2013, the club have established themselves as one of the league's most stable sides, never finishing lower than 15th or higher than 10th across 13 consecutive seasons. The club had never previously won a major trophy, nor had they ever competed in European football.
Their first-ever European campaign therefore represents both a remarkable club achievement and a reflection of the growing strength of the Premier League, where clubs outside the traditional elite increasingly possess the resources and competitiveness to challenge on the European stage.
This article explores how a club traditionally viewed as a stable mid-table side reached new heights through smart recruitment, sporting stability and sound financial management despite facing challenges at both ownership and operational level. It also examines the wider context shaping similarly positioned Premier League clubs and what Crystal Palace's success reveals about the changing realities of European football.
Growing revenues and operating profitability support sporting success
Crystal Palace's recent success has been supported by improvements in the club's financial position.
Operating revenue increased from £134.4 million in 2020/21 to £196.6 million in 2024/25, representing growth of 46% over five seasons.
Much of this increase has been driven by growth in Premier League broadcasting income. However, revenue streams more directly influenced by club performance have also grown. Matchday and commercial income increased by a combined 62% during the period, although together they still generated less than £55 million in 2024/25.
Importantly, the financial impact of European competition is not yet reflected in these figures. The club’s Conference League campaign is estimated to have generated approximately £15 million in additional income, while automatic qualification for the 2026/27 UEFA Europa League group stage is expected to provide a further minimum of more than £10 million. Should they go on to win the competition, this figure could potentially rise to around £40 million.
The club ranked 13th in the Premier League for operating revenue in 2024/25. This highlights both the scale of competition within the English top flight and the difficulty of sustaining sporting success in the long term without regular European participation.
Revenue growth has also translated into stronger operating profitability.
Results before player trading improved from a loss of £11.5 million in 2020/21 to a profit exceeding £25 million in 2023/24, with the club maintaining a positive operating position in the latest financial year.
While transfer activity in recent seasons has pushed net results into negative territory, the club reported a net profit of £8.3 million in 2024/25, marking their first profitable season since the COVID-19 pandemic. The net result ranked fourth among Premier League clubs.
According to Transfermarkt data, Crystal Palace's transfer activity between 2020/21 and 2024/25 resulted in estimated net transfer losses exceeding £170 million, alongside total transfer expenditure of £324 million. However, 2024/25 marked a turning point, with profitable player sales helping to generate a positive net transfer result, supported primarily by the departures of Michael Olise and Joachim Andersen.
Building success through managerial stability and strong recruitment
On the pitch, the club have combined managerial stability with a recruitment strategy that has consistently identified high-potential talent.
Since September 2017, the club have employed only three permanent managers: Roy Hodgson, Patrick Vieira and Oliver Glasner. This reflects both a strong track record in managerial recruitment and a willingness to provide coaches with time to implement their ideas. Palace have also shown flexibility rather than committing to a single football philosophy. The club have repeatedly adapted the sporting project to suit the strengths and approaches of different managers.
With Oliver Glasner’s departure, another transition now awaits. The appointment of Pierre Sage suggests a clear succession plan, following his highly successful season at RC Lens, where he guided the club to a second-place finish in Ligue 1 and won the Coupe de France.
Recruitment has been equally important in building squads that compete.
While the club have invested heavily in player acquisitions, the recruitment team has consistently identified high-potential talent capable of generating significant sporting and financial returns.
Michael Olise, Marc Guéhi, and Eberechi Eze represent some of the most successful examples. All three were acquired for relatively modest fees before developing into elite-level performers and commanding substantial transfer fees. Within the current squad, players such as Adam Wharton, Ismaïla Sarr, Yéremy Pino, and Maxence Lacroix appear to be following a similar trajectory.
The strength of the current squad is also reflected in international representation. The club have released 12 players to the FIFA World Cup 2026, more than several of European football's most established clubs, including Real Madrid CF (10). Such a comparison would have been difficult to imagine only a few years ago.
However, Palace’s experience also illustrates the risks associated with this model. Sustained success requires consistently strong recruitment performance, which becomes increasingly challenging in a highly competitive transfer market where many rival Premier League clubs possess comparable or higher spending power and target similar talent profiles.
Recent transfer activity further highlights these pressures. Despite significant investment, Palace have faced increasing competition for talent, with Oliver Glasner publicly citing recruitment and investment challenges as a factor in his decision to leave the club.
The challenges behind the club’s rise
Crystal Palace's recent achievements are more impressive when viewed against the backdrop of the challenges the club has faced. While success on the pitch has elevated the club to new heights, a number of ownership, infrastructure and development issues remain unresolved. As the club look to establish themselves as a regular competitor at this level, addressing these structural challenges will be important to sustaining progress over the long term.
Ownership issues have been particularly significant. Following a 2021 transaction, John Textor became the club’s principal shareholder and integrated Palace into the wider Eagle Football multi-club network alongside Olympique Lyonnais, Botafogo FR, and RWDM Brussels.
This ownership structure ultimately contributed to Crystal Palace being removed from the Europa League in 2025/26 due to multi-club ownership regulations. While the club went on to win the Conference League, the financial implications of competing in Europe’s third-tier competition rather than the Europa League were considerable.
Textor’s 43% stake was subsequently sold to Woody Johnson in July 2025. However, the club still operates without a controlling majority shareholder. Alongside Johnson, significant stakes remain held by Josh Harris and David Blitzer, while chairman Steve Parish continues to play a central role in the ownership structure. Recent media reports have also suggested that the club are in the process of exploring a potential sale.
Beyond ownership, the club also faces structural limitations in two areas that increasingly influence long-term competitiveness: revenue generation and talent development.
The club ranked only 17th in the Premier League for matchday revenue in 2024/25. Plans to redevelop Selhurst Park, including expansion of the main stand, have been under discussion for several years and would add more than 8,000 seats. Even if completed, the stadium would remain below the league’s average capacity.
With regard to the academy, despite recent investment, productivity has been limited. Tyrick Mitchell has been a mainstay in the squad, while Justin Devenny was the only other academy-connected player to receive meaningful minutes during the 2025/26 season. Beyond those two, no Crystal Palace academy graduate exceeded 200 Premier League minutes during the campaign.
Premier League strength creates opportunity, execution delivers success
The success story demonstrates the growing opportunities available to ambitious clubs in the Premier League. While the increasing financial strength and competitiveness of English football have created new pathways to success, the club's rise has also been built on a series of effective decisions across recruitment, sporting management and financial planning.
At the same time, the challenges highlighted illustrate how difficult it can be to sustain success once it has been achieved. Ownership stability, infrastructure development and academy productivity remain important areas of focus as the club seeks to establish itself at a higher level. Should the club ultimately change ownership, prospective investors will need to carefully assess both the opportunities and the associated structural challenges.
The European triumph reflects the changing competitive landscape of European football. Not long ago, it would have seemed highly unlikely that a club whose highest-ever league finish was 10th place could lift a European trophy. Yet the Premier League's increasing depth means that clubs outside the traditional elite can now compete on stages that once seemed beyond their reach.
Crystal Palace's story is therefore both a club success story and a reflection of wider industry trends. It demonstrates that while financial resources create opportunity, sustained progress still depends on the quality of decision-making across the organisation.
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