Crystal Palace in administration

27 January 2010 08:00
Championship side Crystal Palace have gone into administration after a season beset by financial difficulties.Clubs going into administration are automatically docked 10 points, so they will drop from ninth place to two spots above the drop zone. [LNB]Palace begin their relegation fight at Newcastle on Wednesday but manager Neil Warnock is ready for the challenge. [LNB]"The supporters can rest assured that me and the players will fight every inch of the way," said Warnock. [LNB]The Palace players have been paid late on a number of occasions this season, having been first been informed that chairman Simon Jordan had "cashflow" problems last November. [LNB]Jordan has been searching for new investors after announcing his intention to sell Palace last year, but with debts now approximately £30m, club officials are due in court on Wednesday to face a winding-up order from HM Revenue and Customs. [LNB][LNB] I've always felt we were more likely to be in a relegation scrap than the a chase for the play-offs... Neil Warnock Despite their financial constraints - Warnock has at times not been able to name seven substitutes this season - Palace were lying two points off the play-offs ahead of the trip to St James' Park. [LNB]Warnock instead has a dogfight on his hands, while the sale of his star players, such as teenage striker Victor Moses, now seems inevitable. [LNB]"The lads are obviously all terribly disappointed and the Newcastle game will be one of the toughest they have ever played, but I can promise the supporters who are coming that we will be be focused on the match," the former Sheffield United boss told the Croydon Advertiser. [LNB]"I've always felt we were more likely to be in a relegation scrap than the a chase for the play-offs - and that's certainly the case now." [LNB]Jordan, who saved Palace from administration in 2000, is said to be devastated at the latest development. [LNB]"He has put everything into this club and he is so upset that it has come to this," added Warnock. "He wants me to continue and that's exactly what I'll do until told otherwise." [LNB][LNB] Luton Fan in peace: as you will be aware, we know quite a lot about administration, and even for us it isn't the end of the world Fred Sheffield firm P&A Partnership have been appointed as the administrators for the club. [LNB]"Our role is to find a buyer quickly to provide certainty for the future," said administrator Brendan Guilfoyle. [LNB]"This club has been in the spotlight with creditors pressing for payments and players anxious about wages. [LNB]"We are hoping our appointment will be short-lived as we understand there are many interested buyers." [LNB]The Football League has yet to receive formal confirmation from either the club or the administrators. [LNB]However, once the the Football League has processed the official documentation the 10-point penalty will be applied.

Source: BBC_Sport