I have the stomach and the balls to take this club forward Simon Jordan

Jordan, who has been at the Eagles helm for more than six years, paid �12m for the freehold to former chairman Ron Noades through an intermediary.

Jordan said: "Given the nature of my relationship with the landlord it has made it difficult to negotiate a deal.

"The price was the price I was prepared to pay. Ron's got the deal he wanted and I've got the freehold I wanted."

Interview: Crystal Palace chairman Simon Jordan

Jordan revealed the process of securing the freehold was similar to the manner in which he landed the club in July 2000.

On that occasion Singapore financer Jerry Lim purchased Palace and immediately sold it on to Jordan, a life-long fan, who became the youngest chairman in the Football League at the time.

"I have used the structure - unbeknownst to Ron, I suspect - to purchase the freehold, which we exchanged on Friday last week," added Jordan.

"It now puts me in a position in which I own the freehold, which is what I said would do for the club when I bought it, and goes to the heart of the plans of the football club having everything it needs in one place."

The outspoken Jordan described securing the freehold as his number one priority and was at pains to point out that the �12m outlay was not linked to potential spending on manager Peter Taylor's squad.

"I want to put the club where I said I'd put it, which is amongst the elite, and make it stay there rather than come back down again," he added.

"Everything I said I'd do I have done and this is an investment into the future of the football club, as are players.

"My investment into players is there to see - this summer and last summer. I have the stomach and the balls to take this club forward."