January 27 2010

Ron Noades

Former Crystal Palace chairman Ron Noades thinks administration could be a blessing in disguise for Crystal Palace.

Brendan Guilfoyle, Chris White and John Russell of the P&A Partnership have taken control of Palace with the club in a huge amount of debt.

They now face a major challenge to stay in the division after being docked 10 points for falling into administration.

"For Palace’s future it is probably the best thing that could have happened to them," said Noades.

"It gives them a chance for a new start without the liability of having debts hanging over the club’s head.

"It was most difficult for somebody to go in there and buy Palace, settle the debts and still have money to invest in the club.

"The next problem is that whoever goes in there would have to secure the freehold to the stadium before they can buy the club."

Noades told the South London Press that he made an offer to buy Selhurst Park which is currently in the hands of administrator PricewaterhouseCoopers after owners Rock Investment fell into financial meltodown.

"I made an offer to PricewaterhouseCoopers," said Noades. "I had a group of people that would have bought the freehold and leased it back to the club at half the rent that [Simon] Jordan had.

"The fans have got to put PricewaterhouseCoopers on the spot to sell the freehold because if they come out of administration having re-acquired their own freehold then that would be a wonderful opportunity to start again.

"PricewaterhouseCoopers said they would come back to us but they didn't and the offer was made in October.

"Sorting out the freehold would facilitate an easier path for Palace to come out of administration. The security of the club has got to be the aim."