Jordan has been a colourful character as chairman (Getty)

Crystal Palace chairman Simon Jordan has revealed he has secured the lease of Selhurst Park for the next 25 years.

Jordan purchased the freehold to the stadium through an intermediary in 2006, but it was not known how long the club could remain there.

Jordan told supporters at BBC London Fans' Forum: "I've had to write out cheques for �7m to other people to be able to secure this.

"I have done the best deal that I can do, for the best of the football club."

He added: "I will do the right deal to re-acquire the stadium in the fashion that I want to do it in, at the right time."

Jordan, who took over the Eagles in 2000, revealed his long-term plan is to relocate nearby.

"I'd like to see Palace move away from Selhurst Park, I'd like to stay in the Borough and I'd like us to move to a stadium which is more befitting of the ambitions we have for the club.

"I think on these footprints, it's going to be very difficult, because it doesn't lend itself to being able to build a stadium that competes with other stadiums in London, or in other stadiums around the country."