Crystal Palace administrator Brendan Guilfoyle confident of finding a buyer before the money runs out

Guilfoyle pulls out of fans' meeting...
Crystal Palace administrator Brendan Guilfoyle remains confident he will find a buyer for the cash-strapped club as the deadline for bids looms.

Guilfoyle had pushed the deadline back two weeks to Friday after a lack of bids, despite plenty of interest. He had claimed 36 parties were interested, one of them being US rap mogul P Diddy.

While Diddy is yet to make an offer, Guilfoyle admitted it was imperative a buyer was found before his cash-flow forecast comes to an end in April.

“I’m always looking nervously forward to the close season when the club ceases playing and the wages still need to be found," Guilfoyle said to the Croydon Guardian.

"I don’t have funding for that period and that is why this deadline for the end of March is a real one. I need to have someone around otherwise I will have to start contingency planning.

“I’ve got a plan but I’m not going to discuss it yet because I’m optimistic we’re going to get a bidder.

“People have been hovering around the club for years – since Simon Jordan indicated he wanted out – and I can’t believe they are going to miss out on this opportunity.

“But if we get to April I will have to say what my contingency plans are – I can’t mess around and not let the supporters know. If I go public with that it might flush purchasers out who feel it is the time to intervene.

“Some clubs stay in administration for 18 months but I don’t understand how they do that. The cash burn in June, July and August is millions of pounds.

“There is a feeling that people are hanging back because somehow the price falls, but I don’t think so. There are a lot of components such as Simon Jordan, who is the biggest creditor, and the stadium to be sorted.”

The Crystal Palace Supporters' Trust had organised a meeting between the fans and Guilfoyle for Thursday night, but the administrator pulled out at the last minute. Instead, the fans will have to make do with Palace assistant manager - and club legend - Dougie Freedman.

Guilfoyle told the club's official website on Thursday: "Currently the situation is finely balanced as we come up to the deadline on Friday.

"I remain confident we will find a potential buyer for the club and look forward to having further discussions with interested parties as we attempt to move this football club onto its next chapter."

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