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Warnock stands by Palace

Neil Warnock will remain at Crystal Palace, for the time being at least, to "provide direction" while the club's administrator seeks a buyer. Palace were yesterday deducted 10 points by the Football League after going into administration this week, plunging them to one place and three points off the Championship's relegation zone.

Warnock met Brendan Guilfoyle, of P&A Partnership, yesterday and told him, "I will do anything I can to help, as long as you don't lie to me and don't sell players at stupidly low prices."

The player most likely to be sold is Victor Moses, with the administrator likely to agree a fee well below the £5m valuation Palace had placed on the teenage winger. The manager accepts players have to be sold but pointed out Palace already have one of the division's smallest squads. At Newcastle on Wednesday they could name only three substitutes.

Clubs in administration automatically incur a transfer embargo but Palace were already subject to one, though the League may give them dispensation to bring in free transfers or loanees if the squad drops below 20. "I can't see the League letting us play with eight players," said Warnock.

The League confirmed that was the case with any application assessed "on a case by case basis". "We don't want a situation which is detrimental to the integrity of the competition," said a spokesman, referring to the need to ensure opponents faced a competitive Palace team.

Warnock has been told his staff – including assistant Mick Jones, and coaches Keith Curle and Jim Stannard – are safe by Guilfoyle who said, "Neil is well-remunerated and doing a good job. I've encouraged him to stay."

Warnock is keen to remain at Palace but is known to be interesting clubs with current and impending managerial vacancies. His contract runs for another 18 months but when a club is in administration contracts are far easier, and cheaper for either party, to terminate.

One bonus for Palace is that their putative FA Cup fifth round tie with Aston Villa on 14 February will be televised live by ITV 1, bringing the club £247,500 in fees. Tuesday's fourth-round replay at home to Wolves will also be broadcast (on ITV4) earning £72,000, which will be topped up by £90,000 if Palace win.