Cayman Islands-registered company Agilo Ltd, from whom chairman Simon Jordan is believed to have borrowed £5 million, made the call for the Championship club to be put into administration. Sheffield firm P & A Partnership will now attempt to find a buyer and sell players to raise money.
“I have options,” said administrator Brendan Guilfoyle. “My priority is to make sure we have sufficient funding to complete the club’s fixtures and one technique will be the sale of assets.
“I have not yet had the opportunity to speak to the manager. They have an away game [against Newcastle United this evening] and he was on a plane when I arrived.”
Clubs entering administration are automatically docked 10 points, which would see Palace drop from ninth to two spots above the relegation zone.
