Politicians and councillors have congratulated Crystal Palace on their promotion to the Premier League this week.

Palace booked their place amongst the country’s elite with a 1-0 victory over Watford in the Play-Off final at Wembley on Monday.

Veteran striker Kevin Phillips scored the winning penalty in extra time which means the likes of Manchester United, Chelsea and Arsenal will be visiting Selhurst Park next season.

Promotion to the Premier League means the club’s owners will receive more than £120m to invest in the club.

Labour's Croydon North MP Steve Reed said promotion was a fantastic achievement for the club and the town.

He said: “This is phenomenal not just for the club and the fans, but for Croydon. This result will see Crystal Palace playing in the greatest football league on earth, and the windfall from TV rights and ticket sales could be worth around £120 million.

“What an opportunity not just to build the team but to improve the ground and hopefully include new world-class leisure, shopping and conference facilities.

“That would give a boost to the local economy as well as a boost to our area’s morale. After the riots it’s felt like Croydon’s been on its knees, but with this result we’ve just stood up again.”

Gavin Barwell, MP for Croydon Central, said: “Crystal Palace's victory in the play-off final was a testament to the hard work of Ian Holloway and his players but most of all to the owners, who have turned the club's fortunes around.

“The owners have provided the clear leadership and sound management the club needed after administration, they've invested in bringing through local talent and they've got their reward.”

Richard Ottaway, Conservative MP for Croydon South and an Eagles supporter, said the team is where they belong.

He said: “I was sitting on the edge of my seat as I watched the game at home – it’s a terrific result and long overdue. We’ve all been waiting eight years for this moment.

“I would like to extend a huge congratulations to the Crystal Palace players, their manager Ian Holloway, chairman Steve Parish and his fellow directors.”

Croydon Council’s leader Councillor Mike Fisher said: “Congratulations on behalf of everyone at the council to Crystal Palace.

“We welcome the opportunity to host our successful team to celebrate their success in the borough.

“After falling into administration just three years ago, to be back in English football’s top division is a phenomenal achievement.

“It will be fantastic to see football’s stellar names coming to the borough next season and I’m sure the players and fans will make Selhurst Park a tough venue for visiting teams.”