The Football League have confirmed Crystal Palace have been deducted 10 points with immediate effect after going into administration.
Eagles chairman Simon Jordan had been attempting to attract new investment into the club, who were late in paying their players twice this season. But on Tuesday Brendon Guilfoyle, Chris White and John Russell of the P&A Partnership were appointed administrators.
A league statement read: "Following receipt of formal confirmation that Crystal Palace Football Club has gone into administration, the Football League can confirm a sporting sanction of 10 points will apply with immediate effect."
Now Palace find themselves in a relegation battle after falling from ninth to 21st and just three points clear of the bottom three.
The club's slide into administration has shattered manager Neil Warnock's promotion hopes and his dreams of managing a Premiership side.
Warnock said: "I am disappointed because in all honesty, I don't think I have seen a better team than us over the season and I think we could have gone up, so I am bound to be disappointed, at 61, that I have not got a chance of going up when I want to."
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