6 Aug 2009Crystal Palace handed transfer embargo

Football Clubs News | Football Finance News

The Football League has placed an embargo on Crystal Palace preventing them from bringing in any new players ahead of the approaching Championship season, the Daily Mail reports.

Quarrels over unpaid bonuses and signing-on fees have hit the club, with James Scowcroft and Shefki Kuqi believed to be among those owed money.

Crystal Palace chairman Simon Jordan has revealed that he invested £5 million of his own personal fortune into the club earlier this year.

He told the publication: "I don't have a board of investors pumping money in. Most clubs would have gone into administration but ours hasn't because I stood up and made payments to hold the squad together."

Jordan added that all members of the current squad have been fully paid, but "severance payments" are outstanding to players who have left the club.

He further claimed that the embargo would have no implications on the recent signings of Darren Ambrose, Stern John and Freddie Sears.

Crystal Palace currently have a football sponsorship deal with GAC Logistics, with the pair beginning their shirt agreement in 2006.

Written by Tom Jenkins

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