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Palace saved from extinction

Palace saved from extinction

Crystal Palace have been saved from extinction after CPFC2010 agreed a deal to buy both the club and Selhurst Park.

Club administrator Brendan Guilfoyle had set a deadline of 1500 BST on Tuesday to reach an agreement with Lloyds Bank or he would begin the liquidation process.

However, CPFC 2010, led by fans Steve Parish and Martin Long, signed on the dotted line to save the club.

A statement from Lloyd's Bank read: 'Stadium administrator Pricewaterhousecoopers has reached an agreement in principle with CPFC 2010 in relation to the sale of Selhurst Park.

'This enables the consortium to go ahead with the purchase of both the Crystal Palace Football Club and Selhurst Park.'

Palace fans protested in force outside the headquarters of Lloyd's Bank yesterday and this seemed to prompt the 11th hour deal.

There is still a lot of work to do at the club as former manager Neil Warnock plans to raid the club who are £30 million in the red.

Warnock is lining up bids for keeper Julian Speroni and midfielder Darren Ambrose, who scored the goal to secure their Championship status.



Click here to join in the debate on the club forum.

Writer:Flying Eagle
Date:Wednesday June 2 2010
Time: 10:50AM

Comments

0
Great to hear the good news lads. Good luck to the new owners, look forward to seeing you at Bramall Lane next season.
FloridaBlade1
02/06/2010 16:14:00
0
fair play to CPFC2010, would hate to see another club have to pull a portsmouth
wrestler313
03/06/2010 03:39:00
0
Glad you have come through the other side. Now you have to make it count. Good luck.
SFC Forever
07/06/2010 06:21:00
0
you were awsome at swillsborough congratulations ang like glouc says, we look forward to seeing you at the lane next season.
bladesforlife1889
21/06/2010 09:40:00
0
Glad you survived, good luck for this season (from a Leeds fan!)
thebiggeeuk
14/08/2010 06:15:00
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