12 Feb 2010Stadium ownership issues 'hindering sale of Crystal Palace'

Football Finance News | Football Technology and Stadia

Crystal Palace's search for a buyer is being hampered by legal complexities surrounding Selhurst Park.

According to the Times, any investor that buys the club in its current state is unlikely to have the stadium included in the deal, as the ground is currently owned by a separate party.

Selhurst Park is part of the property magnate Paul Kemsley's empire, which, like the club, is now in the hands of administrators.

Legal obstructions mean that PricewaterhouseCoopers - the company appointed to dismantle Kemsley's Rock Investment Holdings - cannot yet take control of the ground and put it up for sale.

This means that Crystal Palace could remain "in limbo" over finding a buyer until such issues are resolved, the newspaper reports.

P&A Partnership, the club's administrators, took out an advert in the Financial Times to attract potential buyers earlier this week.

Newspaper reports have linked Sir Richard Branson with a bid for the Championship outfit, although the Virgin tycoon said that a takeover would be "unlikely".

Written by Terry Mitchell

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