|
News that administrators have found buyers for Crystal Palace football club may have come too late for some fans. A ten point deduction, their talismanic manager defecting to West London, stars sold and now in the drop zone - if the Eagles go down this year, the fear is they will never come back up. All season 'Leeds' has been the word muttered in fear and frustration as a season horribilis unfolded and one creditor with an itchy trigger finger pushed the Championship side into administration. That administrator, Brendan Guilfoyle remains confident that Palace's long-term future will be resolved shortly. A future that will be without leader Neil Warnock, compensation: £500,000, arguably the biggest talent in English football outside of the Premier League at the moment sold for a fraction of the price and others departing in a 'fire sale'. Palace have only one win in six games since Neil Warnock left for QPR on 1 March, to be replaced by Paul Hart. A resolution to off the field issues may come too late to save a side sliding into the third tier of English football. Crystal Palace are £30m in debt, nowhere near the £110m owed at West Ham United but even if the Hammers are relegated they can rely on two years of 'parachute payments' of £10m and a larger ground with a 'Premiership' spending fan base. There are even plans to pay £14.4m for each of the first two seasons down and then £7m for each of the third and fourth seasons (if promotion back has not been achieved by then). Palace have no such multi-million pound cushion to catch them if they fall - there is a one-off parachute payment of £120,000, but League One clubs get just £350,000 from the Football League. More comes for each live TV appearance, but these are rarer for League One clubs than those in the Championship. Sponsorship money goes down, ticket prices plunge as do attendances.
Offer on the table?
The Friday deadline for bids was extended and it remains unclear whether an offer is even on the table for Palace. Talks are said to be at a delicate stage. "This deadline was always a real one as once the season comes to its conclusion monies will need to be found," said Guilfoyle. "I needed to be in this position as I didn't want to start looking at the alternatives. "Discussions are at a delicate stage and I am not in a position where I can expand on where we stand at this current time, but remain positive that the club's future will be resolved shortly." They are still in the Championship relegation zone, now three points adrift of safety with eight games left. Bidders are said to include rapper P-Diddy, although Guilfoyle said last week that he had not been contacted by the American-based star. Palace meet Cardiff City at Selhurst Park today looking to end a run of five home defeats in six matches.
|
