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Crystal Palace takeover nears completion
By Pete Hayman
Administrators acting on behalf of Crystal Palace Football Club (CPFC) have confirmed that a deal to safeguard the club's future is expected to be completed by the end of July.
Brendan Guilfoyle, a partner with insolvency practitioners The P and A Partnership, said the necessary legally-binding agreements had been signed with prospective owners CPFC 2010. It follows an announcement earlier this month that the consortium had agreed a deal in principle to acquire Selhurst Park from administrators acting on behalf of the South London stadium.
Guilfoyle said: "Achieving this sale has been a balancing act between four parties - the stadium administrator, the secured creditor Agilo, other creditors and the Football League who need to be satisfied that the deal meets their requirements." Barry Gilbertson, partner of PricewaterhouseCoopers - Selhurst Park's administrator, added: "We believe that the consortium's vision for the club, which they are purchasing in a parallel transaction, using Selhurst Park as their ground, matches that of the community, the football club and its supporters."
Administrators acting on behalf of Crystal Palace Football Club (CPFC) have confirmed that a deal to safeguard the club's future is expected to be completed by the end of July.
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