Crystal Palace have come out of administration, the club has confirmed. The south London outfit entered into administration in January and narrowly avoided relegation to League One after being docked 10 points as punishment. But a statement on the club's website has revealed the Football League has now accepted the club's new owners - Steve Parish's CPFC 2010 consortium.
Crystal Palace supporters demonstrate outside Lloyds Bank HQ in London
The news not only marks an end to the rescue process but also results in the lifting of the club's transfer embargo. "It is a relief to get to the end of what has been a long and complex procedure," said administrator Brendan Guilfoyle. For everyone at the club and, of course, the fans, this is the future."
