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Palace put into administration

Tangled up in Blue

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ChampionshipCrystal Palace put into administration as new buyer is sought• Chairman Simon Jordan had been seeking new investment
• 'Our role is to find a buyer quickly to provide certainty'
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Press Association
guardian.co.uk, Tuesday 26 January 2010 16.55 GMT Article history
Crystal Palace's chairman Simon Jordan had been searching for new investors for the club for some time. Photograph: Matthew Impey/Empics Sport

Crystal Palace have been placed in administration, the administrators P & A Partnership said today.

The Eagles' chairman Simon Jordan has been attempting to attract new investment into the Championship club, who have been late in paying their players twice this season.

But Brendan Guilfoyle, Chris White and John Russell of the P & A Partnership have this afternoon been appointed administrators.

Guilfoyle said: "This club has been in the spotlight for some months with creditors pressing for payments and players anxious about their wages.

"Our role now is to find a buyer quickly to provide certainty for the employees, players and fans for the future. We are hoping our appointment will be short-lived as we understand there are many interested buyers."

Palace have reported debts of around £30million and are due in court tomorrow to face a winding-up order from HM Revenue and Customs. The move into administration means they will be deducted 10 points by the Football League.

Despite their financial constraints they were lying two points off the play-offs ahead of tomorrow night's trip to Newcastle.

The manager, Neil Warnock, will instead have a relegation fight on his hands while the sale of his star players, such as teenage striker Victor Moses, now seems inevitable
 
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