Stadium is the key to saving Palace FC

PUBLISHED: 17:19 01 April 2010 | UPDATED: 11:32 12 August 2010

A FOOTBALL club are a step closer to having new owners after preferred bidder status was granted to a consortium of businessman who want to buy the club.

A FOOTBALL club are a step closer to having new owners after "preferred bidder" status was granted to a consortium of businessman who want to buy the club.

It emerged on Tuesday that a group called CPFC 2010 Consortium have been given the preferred bidder status by the administrators of Crystal Palace Football Club.

Their offer is conditional, dependant both on the transfer of the Football League share and them acquiring Selhurst Park, which the club have been tenants of and not owned since 1997.

Former Palace striker Mark Bright said: "This bid is the only one on the table. They have the money, they want to do it, but it's conditional only with the ground. The ground is crucial, without the ground it's a no go. At the end of May Palace will run out of money and then they'll have to sell some players. It's harrowing really."

Administrator Brendan Guilfoyle, who set a deadline for interested parties of last Friday said: "The key to the proposed sale is the stadium and I am hopeful that the CPFC 2010 Consortium can have constructive negotiations with stadium administrator Laurie Manson.

"However, time is of the essence, I think everyone knows that I am not currently funded beyond the last game of the 2009/10 season."

Radio presenter and spokesperson for the consortium, David Jensen, said "I am pleased to be assisting the CPFC 2010 Consortium who are grateful and privileged to be granted preferred bidder status. Like me, the club is important to them and they have come forward with an offer to save the club from closure.

"The CPFC 2010 consortium is well funded and can complete the transaction however they want the maximum investment to move the club forward. Should anyone be interested in joining the CPFC 2010 Consortium, they should contact the administrators."

Crystal Palace entered administration in January and were deducted 10 points, leaving them facing relegation from the Coca-Cola Championship.

n See our Sport pages for reaction from the Crystal Palace manager Paul Hart.

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