Warnock must now prepare for a battle against relegation

Crystal Palace boss Neil Warnock says he is "devastated" at the timing of the club's fall into administration.

Palace, who have debts of £30m, called in administrators on Tuesday.

Warnock believes the decision was premature as he feels the club will soon earn money from the sale of 19-year-old striker Victor Moses.

"The timing just astonishes me. There's a week to go in the transfer window and we are about to sell Victor Moses for millions," he told the Independent.

"I'm devastated, shocked and hugely disappointed," the former Sheffield United boss added in his column for the newspaper.

Nigerian-born Moses, who has notched six goals in the Championship this season, has attracted the attention of Arsenal, Liverpool, Manchester City and Tottenham, and has even been linked with Spanish giants Barcelona and Real Madrid.

And Warnock now fears the club, which will go from challenging for the play-offs to a relegation fight when the Football League deducts 10 points for going into administration, could be hit by a mass exodus of players.

"No doubt we're going to lose players in the next few days, because that's what the administrator does," Warnock told BBC London.

"You don't mind the vultures circling and trying to get players for nothing - you can't blame them.

"There's five or six of my players you could get very reasonably now.

"The administrators do tend to sell players a little bit cheaper than you would do normally.

606: DEBATE We have our role to play and I for one am up for it !!! Smudgerseagles

"They could ask for my advice but I don't think they will.

"I can assure Palace fans that I'll be acting on their behalf, as best as I can over the next few days."

Despite his misgivings, Warnock said he sympathised with chairman Simon Jordan, who has been searching for new investors after announcing his intention to sell Palace last year.

"I feel for Simon... who's been working harder than anyone can imagine to keep the club going and secure its future. I know he's as devastated as I am," said Warnock.

"The players are also in shock. We had a meeting and explained as much as we could to them."

We've only lost twice in our last 15 games - and I really felt we'd a chance of making the play-offs Neil Warnock

Clubs going into administration are automatically docked 10 points, so Palace will drop from ninth place to two spots above the drop zone.

They take on Newcastle on Wednesday but Warnock believes, despite his already thin squad, his team are up for the challenge which lies ahead.

"I'm obviously disappointed from a playing perspective as we'd been doing so well - we've only lost twice in our last 15 games - and I really felt we'd a chance of making the play-offs," he said.

"Now, suddenly, we find ourselves in a relegation battle. They're a great bunch of lads and such is the spirit they've shown in the last few months, when things have been difficult, it really wouldn't surprise me if we get a result."

The Football League has yet to receive formal confirmation from either the club or the administrators, but Palace officials are due in court on Wednesday to face a winding-up order from HM Revenue and Customs.

Once the Football League has processed the official documentation the 10-point penalty will be applied.

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