Football

Credit crunch hits Selhurst Park

Published Add your comment

Football News
24/7

Crystal Palace will face an anxious wait over their future at Selhurst Park after the ground's owners Rock Investments went into administration last month.

Administrators PricewaterhouseCoopers have been given the task of helping ensure the ground's survival and PWC partner Peter Spratt has denied claims that the company's assets, including Selhurst Park, will be sold.

"Our immediate priority will be to review the existing strategic approach, explore all options for the company and to develop an effective long-term strategy for the business," he told the News Shopper.

"During this process, we will work with the company's stakeholders and employees and would like to reassure the existing tenants of the properties that this process will have no impact on them," he added.

PWC's real estate partner Barry Gilbertson, added: "Rock has a strong track record for buying, improving and trading properties.

"As administrators, our role will be to manage the individual assets in this portfolio in a difficult market, protecting and enhancing the value in anticipation of market recovery."

Copyright (c) PA Sport 2009, All Rights Reserved.

Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE: http://gms.to/writeforgms

Topics:
Football
Championship
Crystal Palace

Article Comments

Report author of article

Please let us know if you believe this article is in violation of our editorial policy, please only report articles for one of the following reasons.

Report author

DISCLAIMER

This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of GiveMeSport.com or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. GiveMeSport.com and SportsNewMedia do not take any responsibility for the content of its contributors.

Want more content like this?

Like our GiveMeSport Facebook Page and you will get this directly to you.

Already Subscribed to Facebook, don't ask me again

Follow GiveMeSport on Twitter and you will get this directly to you.

Already Following, don't ask me again

Like our GiveMeSport Page and you will get this directly to you.

Already Subscribed to G+, don't ask me again