The south London side confirmed this morning that they are officially out of administration, after the Football League accepted the club's new owners, Steve Parish and Martin Long. The 105-year old club slipped into administration in January and were nearly relegated before they came within hours of going bust, before the new owners agreed a last-minute deal. The news means that Palace's long-running transfer embargo can be lifted, a handy piece of timing since they are chasing former AC Milan, Barcelona, and Juventus star, Edgar Davids. Improbable, perhaps, but more plausible than the rumoured involvement of P Diddy earlier this year.
Crystal Palace Exit Administration
Last Updated 20 August 2010