Source: Team_Talk
Palace interest 'encouraging'
The Championship club were forced into administration a fortnight ago with debts upwards of £30million.[LNB]The P&A Partnership have since been tasked with keeping the club afloat and took out an advert in today's Financial Times in a bid to sell it.[LNB]The advert offered buyers the chance to own "a long-established south London club" who are "currently enjoying success in the FA Cup".[LNB]Administrator Brendan Guilfoyle tonight described interest in the club as "encouraging" although he admitted ensuring they could play out the season was a more pressing concern than finding a buyer at present.[LNB]"We've got about 20 parties who have expressed an interest in buying the club which is encouraging," he told BBC Radio 5 Live.[LNB]"There are some time-wasters around inevitably in football, but 20 is not a bad start.[LNB]"Our immediate objective was to secure money to pay wages, which we've done. Then to satisfy the Football League we have the cash to complete the season with the cash we've got, which we're doing. Then we look ahead to potential purchasers."[LNB]Guilfoyle said today's advert in the Financial Times was more a matter of process and admitted he did not yet have a price with which he would be willing to sell the club.[LNB]"The advert is there to demonstrate that we're undertaking a full and open sale process," he said.[LNB]"The reality is that most of the world knows the club is up for sale, but just in case the advert goes in."[LNB]He added: "Fans will have to be patient with me. It's early days yet and actually breaking down what is behind the numbers takes time.[LNB]"I have to take the best offer to creditors. I'm open to offers, I don't have a figure in mind."[LNB]Guilfoyle also revealed he would meet a Member of Parliament on Wednesday evening regarding Palace's tenancy at their home ground Selhurst Park.[LNB]The Eagles are currently paying £1.2million a year in rent to a subsidiary of Rock Investment Holdings Limited, but, after they also went into administration, Guilfoyle is hoping to secure a more attractive deal.[LNB]"I expect purchasers to seek clarification of the situation with the ground," he said.[LNB]"I'm in touch with the administrators of the parent company of the ground. They're taking instructions from the bank that appointed them.[LNB]"I'm also having a chat with the local MP tomorrow evening to describe to him the situation and see if he can bring any pressure to bear so I can bring the two assets together."[LNB]On the pitch Palace have recently put together a winning run to help overcome the 10-point deduction they were handed by the Football League for entering administration.[LNB]They also secured a lucrative FA Cup fifth-round tie at home to Aston Villa on Sunday while the sale of teenage forward Victor Moses for £2.5million to Wigan provided a short-term financial lifeline.[LNB][LNB]
