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Crystal Palace facing liquidation today

Crystal Palace face liquidation later today.

CPFC 2010, the group headed by local businessmen Steve Parish and Martin Long, claim they have until 3pm to secure their takeover or Agilo, the hedge fund which put Palace into administration in January, will begin selling off players and dissolving the club.

The consortium, whose bid to save the club has stalled over the sale of their Selhurst Park ground, have even called on Prime Minister David Cameron to intervene with the south London club on the brink of going out of business.

Selhurst Park is currently under the control of separate administrators PricewaterhouseCoopers, who are selling the ground on behalf of Bank of Scotland.

The sticking point appears to be a clause in the deal which would see the bank receive further money if the ground was sold on in the future.

A statement from CPFC 2010 read: "We have now reached agreement with Agilo regarding their debt against the club and did have what we thought was an agreement with Bank of Scotland, who are the major creditor of Selhurst Park Ltd.

"Subsequent to this agreement we have been sent a contract that does not reflect this agreement and is unworkable.

"As we sit today the future of Crystal Palace hangs in the balance and is very much in the hands of a person in a bank in Scotland whom we have never met and, it seems, we are not allowed to speak to.

"We note the new government's commitment to sport, particularly sport in the community. Bank of Scotland is currently government owned.

"As such we would urge the new Prime Minister to intervene personally to resolve the situation or see a club supported by many thousands, and with a 100-year history, consigned to the scrapheap."

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Tribal Football Staff

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