Fan group to take control of Crystal Palace FC
Mon 24th May 2010 | Clubs Ownership
Crystal Palace football club is set for a takeover by a fans' consortium CPFC 2010. Administrator Brendan Guilfoyle said, "It's a complex deal to pull together but all of the different parts are being put in place. It's like a Rubik's cube with all the different aspects coming together."
An agreement has been reached with Aglio, the hedge fund which put the club in administration, and the sale of Selhurst Park is underway. The CPFC consortium, which is headed by fans Steve Parish and Martin Long, now needs the creditors to agree to a Company Voluntary Arrangement.
The Championship club has had a lack luster season and just escaped relegation on the last day of the season with a 2-2 draw against Sheffiled Wednesday. The administration had seen them penalized with a 10-point deduction earlier this season and their manager Neil Warnock left to join Queens Park Rangers.
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