Mark Goldberg, founder of the IT recruitment firm MSB, has been barred from being a company director for at least two years.

Goldberg famously sold his stake in MSB and used the cash to buy Crystal Palace Football Club, which was subsequently relegated into the First Division and forced to go into administration.

Goldberg gave a disqualification undertaking two days into the trial, which began in October, meaning he will face a minimum two-year ban. Mr Justice Lewison, presiding over the trial, later decided that Palace’s former chief executive James McAvoy, who had denied the charges, was also unfit to act as a director.

The allegations against Goldberg and McAvoy included trading while insolvent and irregular transfer deals.

Lewison will decide the full length of their bans later this month.