The consortium interested in buying Crystal Palace has been given a deadline of 3pm on Tuesday or the club will face liquidation.

The club's bank, The Bank of Scotland, have advised the group, CPFC 2010, that a sale must be completed by that date or the Eagles' players will be sold and the club will be dissolved.

The consortium, headed by Steve Parish and Martin Long, had looked set to strike a deal but they hit a snag regarding the sale of Selhurst Park.

Palace avoided relegation to League One on the final day of last season, but uncertainty now surrounds the future of the London-based outfit.

An official statement from CPFC 2010 said: "As you are aware we are endeavouring to acquire both Crystal Palace Football Club and Selhurst Park.

"Everyone would agree Selhurst Park is pivotal to the long-term future of the club and CPFC 2010 have always made it clear that they will not proceed without securing it.

"We have now reached agreement with Agilo [the Hedge fund company] regarding their debt against the club and did have what we thought was an agreement with Bank of Scotland who are the major creditor of Selhurst Park Ltd.

"Subsequent to this agreement we have been sent a contract that does not reflect this agreement and is unworkable."
Frustrating

The statement continued: "We are dealing totally through intermediaries and it's very frustrating, as we don't think the bank competently understand the situation we are in, or the urgency.

"If we cannot reach agreement soon (we have a deadline of 3pm 1st June) Agilo have made their intention clear to sell the players and liquidate the club.

"Please be assured we are doing everything we can to make this happen but as we sit today the future of Crystal Palace hangs in the balance and is very much in the hands of a person in a Bank in Scotland whom we have never met and it seems we are not allowed to speak to.

"We note the new government's commitment to sport, particularly sport in the community, Bank of Scotland is currently government owned, as such we would urge the new Prime Minister to intervene personally to resolve the situation or see a club supported by many thousands with a 100-year history consigned to the scrapheap."

shame, not good to see clubs go under.