Tuesday, 26 January 2010

Glaziers in administration

Crystal Palace had gone into administration.

The resultant ten point penalty will derail their promotion bid but will not place them actually in the relegation zone, although 20th is not far off - but presumably a recoverable position with Dazza.

The administrators are seeking purchasers for the club described as 'Bespoke football club with ground with scope for improvement in anonymous urban area of South London. Orange wallpaper throughout. Shopping facilities available on site.'

BTW, anyone sees me at Charing Cross station tomorrow night in a coffee bar, I will be speaking to an important Kentish man. Normally I would like to greet fellow Addicks, but not this once.


Anonymous said...

It would be wrong to gloat. I would expect further clubs to get into such difficulties. Just look at the mess at Manure. Hopefully everone will wake up to the fact that Football just cannot sustain itself.

Wyn Grant said...

It has to sustain itself like any business. The Manchester United bond issue sold well and they will now be able to redeem the PIK notes. Charlton could, of course, follow suit in the summer.

raoul duke said...

Aren't we still owed some money from Palace from the Paddy McCarthy sale? If so, I'm guessing we're not gonna get those much required spondoolies.

Still, gotta say, as much as it's good to see that arrogant charlatan Jordan get his comeuppance, it's never nice to see a club suffer, even -ahem! - Palace.

Wyn Grant said...

£100,000, but football creditors have precedence under football rules