Football

Palace attracting 'encouraging' interest

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Crystal Palace's administrators have fielded 20 expressions of interest in buying the cash-strapped club as they attempt to secure its future.

The Coca-Cola Championship club were forced into administration a fortnight ago with debts upwards of £30million.

The P&A Partnership have since been tasked with keeping the club afloat and administrator Brendan Guilfoyle told BBC Radio Five Live: "We've got about 20 parties who have expressed an interest in buying the club which is encouraging. There are some time-wasters around inevitably in football, but 20 is not a bad start."

He added: "Our immediate objective was to secure money to pay wages, which we've done. Then to satisfy the Football League we have the cash to complete the season with the cash we've got, which we're doing. Then we look ahead to potential purchasers."

The administrators took out an advert in Tuesday's Financial Times in a bid to sell it. The advert offered buyers the chance to own "a long-established south London club" who are "currently enjoying success in the FA Cup".

Guilfoyle said the advert was more a matter of process and admitted he did not yet have a price with which he would be willing to sell the club.

"The advert is there to demonstrate that we're undertaking a full and open sale process," he said. "The reality is that most of the world knows the club is up for sale, but just in case the advert goes in.

"Fans will have to be patient with me. It's early days yet and actually breaking down what is behind the numbers takes time.

"I have to take the best offer to creditors. I'm open to offers, I don't have a figure in mind."

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Topics:
Football
Championship
Crystal Palace
FA Cup

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