On the eve of Newcastle playing Crystal Palace, the London club has tonight been placed in administration, and are facing an immediate 10-point deduction in the Coca Cola Championship as a result.
Administrators have been appointed in a bid to rescue the Championship club, and the Football League are still to officially announce the 10 point deduction.
The expected deduction will mean Palace will go from 37 points and 9th position, down to 27 points and 20th position – 5th bottom of the league and they may be fighting relegation.
This will hardly be an uplift for their players, as they visit St. James’ Park tomorrow night, but is yet more proof of the financial fragility of many English football clubs.
We’ll be surprised if PL club Portsmouth can avoid administration next month, when they are to appear in court on a winding up charge.
The Crystal Palace chairman Simon Jordan has been actively seeking new investment, and the players have seen their wages delayed this season.
It appears the London club have no other option but to be placed into administration in the face of mounting debts.
A statement released to Sky Sports News read:
“Brendan Guilfoyle, Chris White and John Russell of the P & A Partnership have today been appointed administrators of Crystal Palace Football Club.”
“The administrators have been appointed to rescue the club and reconstruct its finances and will be urgently seeking buyers.”
This is a sad state of affairs for the Crystal Palace club and for its fans, to be sure.
Brendan Guilfoyle said:
“This club has been in the spotlight for some months with creditors pressing for payments and players anxious about their wages.”
“Our role now is to find a buyer quickly to provide certainty for the employees, players and fans for the future.”
“We are hoping our appointment will be short-lived as we understand there are many interested buyers.”
This may even help Newcastle get all 3 points tomorrow night, but as the Crystal Palace club will tell you – nothing is ever certain in football.