Simon Jordan absolutely loses it after Eddie Hearn tells him he 'went bankrupt' running Crystal Palace

Tempers flared between former Crystal Palace owner Simon Jordan and boxing promoter Eddie Hearn live on radio today.

The pair were on air together during Jordan's usual mid-morning stint alongside Jim White on the radio station when the issue of club ownership and Jordan's ill-fated tenure at Selhurst Park came up.

Hearn is chairman of the boxing promoters Matchroom, while Jordan has been a regular on the radio since his ownership of Palace ended with the club entering administration in January 2010. The Eagles are now owned by Steve Parish – who has recently reappointed Roy Hodgson as manager after sacking Patrick Vieira.

Here is the fiery exchange between Jordan and Hearn in full, as it played out on talkSPORT:

Hearn: "You are the king of hypocrisy, you talk like you are some kind of business expert. We know how that went for you."

Jordan: "No, no. In order to lose a lot of money, you have to make it in the first place."

Hearn: "It's a marathon not a sprint, mate. You went skint."

Jordan: "No I didn't."

Hearn: "Yes you did, you went bankrupt at Crystal Palace Football Club."

Jordan: "Don't be stupid Eddie I didn't go bankrupt at all, don't say silly things that could get you into trouble. Because I didn't go bankrupt. What I did, as the biggest creditor, because of the biggest banking crisis in the world, I took a view that I could no longer fund it [Palace] anymore, put it into administration and brought out 50 million quid on the basis of the fact I made 100 million quid. So get your facts right."

Hearn: "I apologise, you took the club into administration."

Jordan: "No, I didn't take it into administration, a secured creditor took it there and I had to take my medicine. I've never complained about it, I've never started wining or cried about it."