26.01.2010
Palace face drop battle after administration
Crystal Palace were left facing a 10 point penalty after the English second division side entered administration on Tuesday.
Palace are currently ninth in the Championship table but the points deduction, mandatory under Football League rules designed to encourage sound financial management of clubs, would leave them in a relegation battle.
South London side Palace have twice been late in paying their players this season despite chairman Simon Jordan's efforts to bring new investment into the club.
Administrator Brendon Gulifoyle said Tuesday: "This club has been in the spotlight for some months with creditors pressing for payments and players anxious about their wages.
"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."
Palace have reported debts of around 30 million poubds and were due in court tomorrow to face a winding-up order from HM Revenue and Customs, Britain's tax collecting authority.
Despite financial problems that have meant Neil Warnock has been unable to field a full substitutes bench at times this season, Palace were only two points outside of the play-off places ahead of Wednesday's match against leaders Newcastle.
But now the 'Eagles' face a battle to avoid dropping into English football's third tier with the likes of highly rated teenage striker Victor Moses set to be sold in a bid to bring some much needed funds into Selhurst Park.
The Football League have yet to impose the 10-point deduction as they have not yet received formal confirmation from either Palace or the administrators that the club have entered administration, but it is expected this will arrive with officials within the next couple of days.
Source: © 2010 AFP -
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