CPFC 2010 has warned against complacency in its bid to take over Crystal Palace.

The consortium of wealthy businessman, who are keeping their identity secret, was awarded preferred bidder status for the club three weeks ago and is currently in discussions with the administrators of Selhurst Park, PricewaterhouseCoopers (PWC), about buying the ground.

On Friday, Brendan Guilfoyle, joint administrator of the club, responded to media reports saying the club was in meltdown by revealing he hoped CPFC 2010 would be able to complete its takeover at the end of this month.

A statement from the consortium though urged people not to think it is a done deal.

"Whilst discussions with PWC and their agents have been encouraging, there are no guarantees that agreement will be reached on this or a number of other issues around the club's emergence from administration via a CVA," it said.

"It is therefore the opinion of CPFC 2010 that no one should be complacent that a deal will happen and any and all contingencies that can be, should be put in place.

"Please be assured that we are working diligently in the background to achieve the outcome we all desire as fans, players, staff, management and investors in CPFC 2010, which is a future for Crystal Palace FC."

Guilfoyle also hinted in his statement that players' contracts will have to be renegotiated when new owners come in.

"Palace is a good club with a good infrastructure," he said.

"But any new owners will obviously take some time to stop the losses as the major expenditure is the long term contract of players and these will have to be adjusted over a period of time as the new owners move to build a sustainable football club.

"I am in a position to ensure the club is funded up until the end of the season and then I expect to sit down with CPFC 2010 and take direction from them as to their plans for the future while we await transfer of the share at the Football League.

"I hope CPFC 2010 will be in a position to sign on the dotted line at the end of this month and then I will work with them over the summer period while they satisfy the Football League they can take the club forward."