Palace saved from brink of extinction

Published Add your comment

Football News

Crystal Palace have been hauled back from the brink of extinction after the CPFC 2010 consortium finally agreed a deal in principle to buy the club and its Selhurst Park ground.

The administrator in charge of the Coca-Cola Championship club, who have debts of £30million, gave them until 3pm on Tuesday to reach an agreement with Lloyds Bank before the liquidation process was due to begin.

Hundreds of Palace fans who had gathered outside the bank's headquarters to demonstrate were fearing the worst when that deadline passed. But negotiations were continuing behind closed doors and the deal has now been struck, saving the 105-year-old club from going out of business in the nick of time.

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:

Crystal Palace

Article Comments

Read more

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


This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. 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