Crystal Palace's administrator in talks to reduce debt

David Yuill11 April 2012

Key figures involved in the running of Crystal Palace met yesterday in a bid to resolve debts at the club.

Brendan Guilfoyle, the administrator of the football club, spoke with Laurie Manson, the administrator of the company which owns the ground, to discuss the club's remaining assets.

Palace, who still owe rent arrears for the lease of Selhurst Park, are in an unusual position because they don't own the ground.

In response to a letter from concerned Palace supporters, the Crystal Palace Ambassadors Club, Manson said: "We decided to set up a meeting with the administrators of the club. We understand the sensitivity of the situation, where both the tenant of the stadium and the landlord are in insolvency proceedings."

The Ambassadors, who bought lengthy season-tickets to provide a cash injection to the club, are desperate for the ground's lease to be renegotiated at much lower terms in a bid to attract more investors.

Meanwhile, Neil Warnock's Palace welcome Reading in tonight's crunch clash at the bottom of the Championship. Just one point separate the relegation-threatened pair with Palace having been docked 10 points after going into administration.

Cup-tied Lee Hills, Kieron Cadogan and Stern John (above) come back into contention and Matt Lawrence returns from his hamstring injury.

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