January 27 2010

Brendan Guilfoyle

Players will have to be sold to keep Crystal Palace alive, says the club administrator.

The cash-strapped Eagles plunged into administration on Tuesday afternoon with Brendan Guilfoyle, Chris White and John Russell of the P & A Partnership appointed to restructure debts and find a new owner.

Guilfoyle will now meet with Palace manager Neil Warnock to discuss which players can be sold to bring in the funds required to stay afloat with prize asset Victor Moses attracting interest from West Brom and Nottingham Forest.

Palace now face a battle to avoid relegation after the 10-point penalty for falling into administration drops them to fifth bottom in the Championship.

Guilfoyle told Sky Sports News: "I'm pleased that I have options because I've been appointed while the window is open.

"My main priority is to secure sufficient funding to make sure the club can complete its fixtures for the season. That's where the value of the club is, in its membership of the Championship. One of the techniques I use is to sell assets.

"Agents are travelling towards me, I will be briefing the agents, we will be getting valuations of players and then we will be opening discussions with clubs about the sale of any players here."

Guilfoyle added: "Hopefully there will be an opportunity for a discussion with the manager and we can work together to secure the club's future.

"I've met Dominic Jordan (vice-chairman) and I've spoken to Simon Jordan on the phone. Both of them view my appointment as an unwelcome development and are understandably disappointed.

"But I am encouraged to receive a lot of co-operation from Dominic and I'm expecting to see Simon tomorrow. Hopefully they will be encouraging others to come forward and buy this club out of administration."