June 1 2010

Selhurst Park

Crystal Palace have been saved from liquidation after an agreement was made in principle for the CPFC 2010 consortium to purchase the club and Selhurst Park.

A Lloyds bank statement announced this afternoon stated: "(Stadium administrator) PricewaterhouseCoopers has reached an agreement in principle with CPFC 2010 in relation to the sale of Selhurst Park.

"This enables the consortium to go ahead with the purchase of both the Crystal Palace Football Club and Selhurst Park."

"Lloyds Banking Group has worked hard throughout this process to achieve a durable solution. We are pleased a successful conclusion has now been reached.

"We are also pleased that PwC, which acts on behalf of Selhurst Park, has publicly acknowledged today the ongoing support it has received from Lloyds Banking Group."

A statement by the CPFC 2010 consortium on the official Palace website read:

"We can now confirm that there are no material differences between ourselves and Bank of Scotland regarding the sale of Selhurst Park.

"Whilst its not 100% done we are confident that all the main barriers have been removed.

"We would thank the fans for their support and urge everyone at the ground to leave peacefully as we work to try to conclude things."

Club Administrator Brendan Guilfoyle has also announced that any player sales have been put on hold, which means that Darren Ambrose won't be sold to QPR as long as the completion of the purchase of the club goes through.