Ex-Leeds administrator says Palace not alone
Crystal Palace won't be the last club to come close to liquidation, say experts.
Gerald Krasner, the former chairman of Leeds and administrator of Bournemouth who is now a partner at insolvency and restructuring specialists Begbies Traynor, has warned that eight clubs in the Premier League and Championship could also be close to financial meltdown.
"The news that Crystal Palace has been saved is a welcome relief for all those connected with the club but should serve as a wake-up call to a number of football clubs up and down the country," said Krasner. "Our data shows that there are eight Premier League and Championship clubs with 'critical' financial problems, issues that may well get worse given that clubs will see the usual reduction in income over the summer months now that the domestic football season has finished."
He added: "It is imperative these clubs take steps as soon as possible to address these issues, otherwise Crystal Palace won't be the last club we see teetering on the brink of liquidation."