Credit crunch hits Selhurst Park

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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.

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