Crystal Palace Football Club has confirmed that it has fallen into
administration after months of financial hardship.
It has been announced this afternoon that buyers are being urgently sought by administrators Brendon Guilfoyle, John Russell and Chris White from P&A Partnership. The partners have been tasked with the club’s rescue and its financial restructure.
The club has failed to pay its football players and staff for the past two months and also missed payments in the two months previous to this. It has been banned from the transfer market twice so far this season. Administrator Brendon Guilfoyle explained, “this club has been in the spotlight for some months with creditors pressing for payments and players anxious about their wages.”
He continued, “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."
