Crystal Palace Go Into Administration
Posted Wednesday, January 27, 2010 by Goal.com
Crystal Palace have today gone into administration.
Club chairman Simon Jordan has been trying to attract investment into the south London outfit in recent months, but it seems his hard work has come too late to stave off bankruptcy.
Players' wages at Selhurst Park have been late twice this season, and they will now face a ten-point penalty, worsening their plight near the bottom of the Championship table.
Brendon Guilfoyle, Chris White and John Russell of the P & A Partnership have been appointed adminstrators.
"This club has been in the spotlight for some months with creditors pressing for payments and players anxious about their wages," said Guilfoyle.
"Our role now is to find a buyer quickly to provide certainty for the employees, players and fans for the future. We are hoping our appointment will be short-lived as we understand there are many interested buyers."
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