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Virgin Boss Branson interested in Crystal Palace FC

Wed 10th Feb 2010 | Clubs Ownership

It’s been reported that Virgin boss Sir Richard Branson would be 'happy to look' at Crystal Palace after administrators took out an advert in the Financial Times in a bid to sell the club.

The Coca-Cola Championship side were forced into administration a fortnight ago with debts upwards of £30million but currently have 20 parties interested in buying the club.

The recent advert offered buyers the chance to own 'a long-established south London club' who are 'currently enjoying success in the FA Cup'.

It’s understood that Branson has personally expressed an interest in the club, but insisted a bid from Virgin was 'unlikely'.

Branson, who has previously been linked to the club, said: 'We are always happy to have a look but I think the chances are less likely than likely. If they are for sale, then we are always happy to have a look.'

If he did decide to make an offer Branson may not have to put in a huge bid as Palace's administrator Brendan Guilfoyle has already admitted 'I have to take the best offer to creditors. I'm open to offers, I don't have a figure in mind.'

Guilfoyle revealed on Tuesday he would meet a Member of Parliament this evening regarding Palace's tenancy at their home ground Selhurst Park.

The Eagles are currently paying £1.2million a year in rent to a subsidiary of Rock Investment Holdings Limited, but, after they also went into administration, Guilfoyle is hoping to secure a more attractive deal.

'I'm in touch with the administrators of the parent company of the ground. They're taking instructions from the bank that appointed them.

'I'm also having a chat with the local MP to describe to him the situation and see if he can bring any pressure to bear so I can bring the two assets together.'

On the pitch Palace have recently put together a winning run to help overcome the 10-point deduction they were handed by the Football League for entering administration.

 

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