Palace pull the pin

[Stitch This]

Crystal Palace go into administration

Championship side Crystal Palace have gone into administration after a season beset by financial difficulties.

The Eagles twice failed to pay players this season and chairman Simon Jordan had been searching for new investors.

Clubs entering administration are automatically docked 10 points, which would see Palace drop from ninth place to two spots above the drop zone.

But the Football League has yet to receive formal confirmation from either the club or the administrators.

The Football League would need to see official documentation before applying the penalty.

Sheffield firm P&A Partnership have been appointed as the administrators for the club.

"Our role is to find a buyer quickly to provide certainty for the future," said administrator Brendan Guilfoyle.

"This club has been in the spotlight with creditors pressing for payments and players anxious about wages.

"We are hoping our appointment will be short-lived as we understand there are many interested buyers."

Palace have reported debts of approximately £30m and are due in court on Wednesday to face a winding-up order from HM Revenue and Customs.

Despite their financial constraints - Warnock has at times not been able to name seven substitutes this season - Palace were lying two points off the play-offs ahead of Wednesday's trip to Newcastle.

Warnock will instead have a relegation fight on his hands, while the sale of his star players, such as teenage striker Victor Moses, now seems inevitable.

Jordan, who saved Palace from administration in 2000, last year announced his intention to sell the club.

The club has twice since been subject to a transfer embargo, with the Palace players first informed that Jordan had "cashflow" problems at the end of November.

http://news.bbc.co.uk/sport2/hi/footbal ... 481549.stm

[ozzie owl]

Another one bites the dust.

[Kunta Kintay]

Wow watch the race now heat up for wunderkid Victor Moses.

[Trimboli]

Brilliant I hate them, went to high school in Croydon and remember being taunted by rugby playing toffs who thought supporting the Palace was them identifying with the working classes while I was inner city Battersea scum (which I may well still be!). Funny how one of the taunts I got was that we (Chelsea) were poor - how things have changed!

[ozzie owl]

Sad to see another club go under,it will become more common in the future. Cheslki are only where they because of one man, if he ever loses interest or gets sick of pouring away his millions, then what?

[toonarmy#9]

Sad to see another club go under,it will become more common in the future. Cheslki are only where they because of one man, if he ever loses interest or gets sick of pouring away his millions, then what?

possibly another Leeds like situation

[ozzie owl]

Sad to see another club go under,it will become more common in the future. Cheslki are only where they because of one man, if he ever loses interest or gets sick of pouring away his millions, then what?

possibly another Leeds like situation

Maybe even worse given how much Abromovitch has pumped into Chelsea (as loans).

[Le King]

phew i thought u meant the palace down hindley

[The Kop]

Sad to see another club go under,it will become more common in the future. Cheslki are only where they because of one man, if he ever loses interest or gets sick of pouring away his millions, then what?

possibly another Leeds like situation

Maybe even worse given how much Abromovitch has pumped into Chelsea (as loans).

Chelsea are debt free
All of Abramovich's loans were converted into equity.

[THE ORACLE]

the dollar will kill the game in the end. its inevitable.

[Stitch This]

They have had 10 points deducted as expected which drops them fr.om 9th to 21st in the Championship

[Hawkesy]

Brilliant I hate them, went to high school in Croydon and remember being taunted by rugby playing toffs who thought supporting the Palace was them identifying with the working classes while I was inner city Battersea scum (which I may well still be!). Funny how one of the taunts I got was that we (Chelsea) were poor - how things have changed!

Never has one post so clearly summed up the nigels from croydon. They turn up in their range rovers and green wellies and think they are football supporters. Only 5 miles from selhurst to the Den, yet they NEVER turn up.

[ozzie owl]

Abromovitch may have equity in the club, but who will pay top price for company consistently losing huge sums and bailed out by an equity owner.

[TOPGUNJIMMYAUFC]

adelaide united next on the cards, pffft hope not.....

[El Pibe D'Oro]

WTF has United got to do with this Jimmy you lunatic.

Stick to the mental forum.

[TOPGUNJIMMYAUFC]

WTF has United got to do with this Jimmy you lunatic.

Stick to the mental forum.

adding my 2cents....

[M160RA]

Eric Cantona has the last laugh.

Coincidentally Hawkesey, I was reading about Denny Warren this week.....

I remember as a crombie wearing very young teenager being penned in one corner of the old Den with a rickety fence seperating us from the screaming home fans and coming under a hail of glasses and bottles with the odd dart thrown in for good measure and the Palace fans gobbing back at our assailants.

After the final whistle, the Palace fans left the ground singing led by Denny Warren. This man was more than a match for any of the Wall.

In those days, the nearest station was New Cross Gate and an ambush awaited those heading there through the railway arches en route, though there was always safety in numbers and Palace fans willing to stand up for themselves

[Hawkesy]

who the fuck is denny warren? palace have never had any "boys" trudt me on that one.

[povman_2009]

The story about Denny Warren above, was lifted from the Holmsdale.Net website without attribution...

Apparently Denny was a legend in his own world...