1 Jun 2010Crystal Palace 'close to liquidation'

Football Clubs News | Football Finance News

Troubled Championship club Crystal Palace could be liquidated today (June 1st) if an agreement cannot be reached with a group seeking to complete a takeover deal.

Members of the CPFC 2010 consortium have expressed frustration at the lack of progress made in discussions with the Bank of Scotland, who they suggested have displayed a lack of "urgency" despite the grave situation facing the south London outfit.

Speaking to BBC Radio 5 Live, administrator Brendan Guilfoyle claimed he is already in the process of selling playing staff, adding: "There are a number of players who have value but once they're sold and if no-one else comes in, then I'll have to resign, walk away and then the liquidation process will re-start."

Mr Guilfoyle also claimed CPFC 2010 is likely to withdraw if Crystal Palace's footballers are allowed to move elsewhere.

Earlier this year, American rap star P Diddy was rumoured to be interested in buying the club.

Written by Tom Jenkins

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