Keith Wyness 'concerned' by source's Crystal Palace loan reveal: 'Double what Tottenham paid'

Former Everton CEO Keith Wyness warns Crystal Palace that stadium loan interest rates of up to 8% are double what Tottenham paid, urging the club to borrow minimally.

Crystal Palace are planning a redevelopment of their main stand to increase Selhurst Park's capacity to 34,000, but will need to secure loans to fund the project. According to former Manchester City financial advisor Stefan Borson, Palace could face interest rates of up to 8% on any borrowing needed.

Former Everton chief executive Keith Wyness, who ran Goodison Park between 2004 and 2009, has expressed concern about these rates. He told Football Insider that the 8% figure would be roughly double what Tottenham paid when financing their new stadium build. Wyness believes Palace, lacking the financial firepower of the Premier League's elite clubs, should borrow "the minimum that they can" rather than overextending themselves.

"If you have a bad season and those interest payments keep coming, that's what you've got to think about," Wyness said. "They've got to be very careful because if the wind blows the other way and things don't perform that well, they're going to be careful not to be saddled with that." Wyness also backed midfielder Adam Wharton's long-term value, predicting the England international will still command at least £60million in next summer's transfer market despite recent performance concerns.