Crystal Palace have reportedly landed a £125million loan deal in order to help with the redevelopment of their Selhurst Park home.Palace co-owner and chairman Steve Parish confirmed to talkSPORT that work on their main stand is due to begin next month.Palace will soon begin work on the main stand at Selhurst ParkGettyA new 13,500-capacity stand will help increase the stadium’s overall number of seats from its current 25,486.Financing for the project will be aided by a £125m loan spearheaded by investment giants Goldman Sachs, as reported by Bloomberg.This loan deal is said to offer more favourable terms in comparison to a previous financial agreement, which has now been replaced.Work was projected to cost £100m at first but concerns over inflation and work on the existing site has seen this figure increase.Palace were reported to be close to commencing redevelopment in 2023 and work would take between 27 and 30 months.The Premier League outfit have played at Selhurst Park since 1924, which is 19 years after they were founded.A move away from the south London ground was considered before plans for expansion were announced in 2017.What did Parish say on Selhurst Park works?Speaking to talkSPORT in October, Parish said: “Fingers crossed they’ll [the fans] see some real physical progress in January.“We’ve been a little bit delayed with things around buying the houses we’ve got to buy, and just some changes.“We’ve actually changed a lot of the construction from all concrete, mainly concrete, to mainly steel.A multi-million pound loan will help finance the workGetty“That’s been a bit of a sea change, but it saved us a significant sum of money. so it was worth doing that work.“We’ve got a new company that are running the construction project. So it’s all systems go.”“When I first arrived [in 2010], we looked at Crystal Palace National Sports Centre,” Parish added.“But as everybody knows, getting planning permission in this country is extremely difficult. And it’s not easy to do it where you are.“But if you’re on an existing site and an existing stadium, there’s a lot less objections because people already come there 19 times a season, plus cup games.“So I think it’s easier to do it where we are. It would be a huge delay if we were to start looking somewhere else now.”