Crystal Palace set to exit administration

July 26, 2010

English Championship side Crystal Palace is set to come out of administration after no appeal was lodged from Her Majesty’s Revenue and Customs (HMRC) objecting to the move.

Palace went into administration in January and only avoided going out of business last month thanks to a consortium stepping in.

And the news now means that the CPFC 2010 consortium, led by Steve Parish, can now apply for a transfer of Palace’s Football League share and take full control of the club.

Club administrator Brendan Guilfoyle said: “This is now the beginning of the end of the rescue of Crystal Palace.

“I would like to say a special thank you to Steve Parish. Without his determination and tenacity, it would not have been possible to resolve the many difficulties that arose during such complex and lengthy negotiations.”