The Joint Administrators for Selhurst Park Stadium have now instructed CB Richard Ellis as their marketing agents.
The move follows the recent appointment of Peter Spratt, Bruce Cartwright and Laurie Manson of PricewaterhouseCoopers LLP as Joint Administrators to the freehold company for Selhurst Park, home of Crystal Palace FC on 12 February 2010.
Laurie Manson, director at PricewaterhouseCoopers LLP in Scotland and Joint Administrator, commented:
"Our role is to secure the best outcome for this football ground and, over the coming weeks, we will be working closely with CBRE on the marketing strategy to ensure all the possible solutions have been considered.
"We will, of course, continue to liaise with the club's administrators in the hope that a buyer for both assets can be found at the same time, and remain sensitive to the concerns of supporters and the local community. However, as we have stressed already, this should be seen as just one option open to us.
"We fully intend to market the asset widely to give every possible buyer, and all the existing stakeholders, such as the Crystal Palace supporters and the CPFC Ambassadors Club, the chance to get involved in the future of Selhurst Park."
Barry Gilbertson, PwC's specialist property partner added:
"Selling the ground of any football club, but particularly one where both the club and company owning the ground are in administration, is particularly challenging. Having carried out a robust review of appropriate agents to advise us and to sell the asset, we are delighted to appoint CBRE. Their depth of specialist knowledge was evident in their pitch and the way they apply that experience and expertise will make a huge difference to the amount of recovery for the creditors."
David Batchelor, Senior Director at CB Richard Ellis said:
"We are thrilled to have secured this mandate and consolidate a great working relationship between PwC and CBRE. This is an excellent opportunity to demonstrate the depth of expertise across our team's national and international network and will give us a great platform to launch the marketing programme."
