STATEMENT FROM BRENDAN GUILFOYLE, JOINT ADMINISTRATOR OF CRYSTAL PALACE FOOTBALL CLUB AND PARTNER IN THE P&A PARTNERSHIP OF SHEFFIELD AND LEEDS

I have identified an issue that might affect purchasers of Crystal Palace Football Club - it is the rent on the stadium of £1.2 million a year.

Historically the club paid approximately £350,000 a year, but in April 2008 the rent was increased to £1.2 million a year. The landlord, a subsidiary of Rock Investment Holdings Limited, went into administration in June 2009.

I now am in touch with the landlord's administrators and am optimistic that I will be able to agree a short term rent concession and long term a more realistic rent or a sensible price for the freehold.

However, my immediate priority is to ensure that I have enough cash to enable Crystal Palace FC to complete this seasons fixtures and that is what I'm actively working on.

I have been asked about bids to buy the club. Whilst I appreciate that football transfers are discussed in the media, I cannot do the same for the proposed sale. What I can say is "that the dancing has begun, a lot of people are marking my dance card, but I am not kissing anyone yet."