Ron Noades has held talks with the administrators of Selhurst Park over buying the freehold to the ground.

The former Crystal Palace chairman spoke to PricewaterhouseCoopers earlier this week after returning from holiday in the Caribbean but balked at the £10m asking price.

In an exclusive interview with the Croydon Guardian, Noades also said:

  • He has no interest in buying the club.
  • Both the administrators of Crystal Palace and Selhurst Park must lower their prices if they are to find buyers.
  • New club owners must buy the freehold too or will go bust paying £1.2m a year in rent.
  • Relegation to League One will not be the end of Palace.

Noades, who was chairman of Palace between 1981 and 1998, was linked with a bid for the club last weekend but said that was complete fabrication.

“I am not interested in making a bid for the club,” he said.

“I was interested in getting a group together to buy the freehold and lease it back at the rate I used to, 10 per cent of the gate receipts.

“With the present lease of £1.2m a year anyone who buys the club without the freehold will just go bust again.

“The administrators said they wanted £10m for the ground but I don’t think they will get that.

“Palace's gate receipts are £3.4m and 10 per cent in gate receipts is £340,000 a year.

“That won't support a £10m investment.

“They are probably trying to get £8m and there is a fair chance they could get £7.5m.

“The freeholders have got in a panic trying to a deal while are still in business as that is their best chance of getting something.

“They have got it into their heads that if the club goes down and the ground is there with no club the value will diminish enormously.

“The local authority won't let it be used as anything other than a football ground so development is very limited.

“The club’s administrator has quite a job to do as well.

“He might get £7.5m. Then whoever puts that up also has to get the freehold which will cost another £7.5m and that's £15m.”

Steve Parish and his consortium of businessman are believed to be meeting with The P&A Partnership's Brendan Guilfoyle ahead of Friday’s deadline for offers and Noades believes the possibility of relegation to League One will not put off any prospective bidders.

“The expensive players will want to move and Palace will start from scratch and perhaps break even,” he said.

“They lost £7m last year and I think this year it’s £2.2m – but that excludes the lease.

“If the club drops a division that doesn't matter as it will have a chance of winning matches and building a young team.”