Administrator confirms Crystal Palace's exit from administration

Crystal Palace administrator Brendan Guilfoyle has confirmed the club has officially exited administration today.

The Football League has accepted CPFC as the new owners of Crystal Palace, replacing Crystal Palace FC 2000.

Guilfoyle, partner at P&A Partnership, said: "It is a relief to get to the end of what has been a long and complex procedure."

The administrator confirmed that the player transfer embargo had been lifted and there would be no further point deductions for the club.

Crystal Palace entered administration in January this year with debt of more than £30m.

In June HBOS sealed a deal with CPFC to save the club.

Further reading:

Administrator signs deal to save Crystal Palace

Crystal Palace future on the line

Clear as Crystal