- Crystal Palace News
- League Table
- News Archive
- Championship News
Palace administrator issues warning
01 Jun 2010 - 07:49:48
Administrator Brendan Guilfoyle has admitted he fears for the future of Crystal Palace after speaking of his 'genuine concern' that the sale of the club may not be agreed before Tuesday's deadline.
Guilfoyle, who was put in charge of the Eagles in January when they were placed into administration, could be forced to liquidate the Championship club should preferred buyers, CPFC 2010, not reach agreement before the 1500 BST deadline.
The group of local businessmen headed by Palace fans Steve Parish and Martin Long have agreed a deal to buy the club, but the sale process has stalled on the future of Selhurst Park.
The stumbling block is the amount of money major creditors Bank of Scotland would receive should the ground be resold in the future.
"I am now genuinely concerned because I can't let the thing drift on into June," explained Guilfoyle.
"The staff at Palace have not been paid since the end of April. I can deal with that by selling the club's star players but what CPFC 2010 have said is if you start selling players we'll no longer be interested.
"If I start selling players - and I will because I have to - I'm not confident CPFC 2010 will still be around.
"In those circumstances I haven't got anyone to buy the club because they have, for a long time, been the only show in town."