Palace administrator seeks rent deal

05 February 2010 06:45
Brendan Guilfoyle of the P&A Partnership has been running Palace's affairs for the last 10 days after owner Simon Jordan called in the administrators.

The Eagles are currently paying £1.2million a year rent to a subsidiary of Rock Investment Holdings Limited, but, after they also went into administration, Guilfoyle is hopeful of securing a lower rate.

"I have identified an issue that might affect purchasers of Crystal Palace Football Club," he said. "It is the rent on the stadium of £1.2million a year.

"Historically the club paid approximately £350,000 a year, but in April 2008 the rent was increased to £1.2million a year. The landlord, a subsidiary of Rock Investment Holdings Limited, went into administration in June 2009.

"I now am in touch with the landlord's administrators and am optimistic that I will be able to agree a short-term rent concession and long-term a more realistic rent or a sensible price for the freehold."





Source: Team_Talk