Crystal Palace have come out of administration after several months of financial uncertainty.
Transfer embargo lifted at Selhurst Park
Crystal Palace have come out of administration after several months of financial uncertainty.
The Eagles were put into administration back in January and were hit with a 10-point penalty that almost resulted in the club being relegated from the Championship.
Steps have been taken to secure Palace's future and the process has now been completed, with CPFC Limited taking full control.
The move also allows Palace to sign new players after their transfer embargo was lifted.
Administrator Brendan Guilfoyle confirmed the news on the club's
official website and said he was pleased to pass the reins over to fresh owners, led by Steve Parish and Martin Long.
Relief
"It is a relief to get to the end of what has been a long and complex procedure," he said.
"For everyone at the club and of course the fans, this is the future.
"The new club can now go forward, with the embargo on player transfers lifted and no further points deducted - all welcome developments at the beginning of the new season."
Parish, of CPFC Limited, said: "We would like to thank Brendan and P&A for their expertise, diligence and hard work throughout the administration.
"The fact Crystal Palace lives to fight another day is in no short measure due to their efforts."
George Burley's side continue their Championship campaign at home to Ipswich this weekend after picking up three points from their opening two games.
