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Palace administrator seeks rent deal

05 Feb 2010 18:45:34

Palace administrator seeks rent deal

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."


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