Palace away support at SHEFF WED!

[South Coast Eagle]

It's widely known that financially we are in a mess & with the players not getting paid on time again it's definitely dark days at Palace. Like any football fan we have to hold on to optimism that things will not crumble around us.

One satisfying smirk that came from me was last season when Charlton fans were on SSN outside THe Big Tent dancing, laughing & cheering that they were going to get a rich Arab investor. 48 hours later that all fell through & they were left potless and the joke of the year.

We have until 27th January to see what will happen, that's the day we're due in court, until that day I'll just enjoy the cracking run of form we're on & the building up of enough points to keep us above the bottom three if the inevitable points deduction hits us.

As for Cardiff, f*ck 'em & roll on them playing TNS in their proper league.

 

[Mackenzie]

Cardiff are in deep trouble

They not only owe HMRC £2.7m they are spending next seasons ticket money to clear it (having spent this seasons last season)

The premier seating at their stadium has been given to a firm who helped them build it and all the future catering money for the season has been given to another creditor. In addition, they've already spent all their TV money by giving it to Barclays to clear debt.

The current wage bill is £1.5m per month (one of the highest in the Championship) and they've just negotiated to commit to paying Sam Hamman £85,000 every month to clear interest on what they owe from previous years (£20m)

All this to be collected from a current 'walk up' crowd (as they've already spent ST money) of around £200k per month.

As for Ledley, he's out of contract at the end of the year and is holding out to walk away with a big fat signing on fee - giving Cardiff virtually nothing

Apologies for appearing so knowledgeable - I f***ing hate them with a passion.

Congratulations on the Villa draw BTW

Premier league or bust for those lads then.

 

[26-10-02]

If this latest poster is to believed, things just appear to get worse for you. He states the overdraft alone is greater than one seasons turnover?


Bank Rupt
Registered User Join Date: Sep 2007
Posts: 61


Quote:
Originally Posted by SE25Eagle
Thats in your opinion.

Ever think that there are people out there with a tad more business sense than you though James, who would know exactly where to start..?


James is entirely right. There are so many problems at CPFC (2000) Ltd that nobody in their right mind would bother doing more than ten minutes worth of due dilligence. The debts are too big: - you can't trade out of them.

Palace turn over £9m to £11m in a Championship season and Jordan has been spending £20m-odd a season, year after year. Jordan has also recently sold the catering and club shop operations for an up-front payment and a small annual royalty as well as nicking £6m-odd of future season's revenues to throw at his current debts. And he still can't make it work!

The overdraft alone is more than a season's turnover. And that's not counting the Agilo debt, the £2m bank loan, PAYE/VAT debts, transfer debts to other clubs, lease creditors, outstanding rent arrears and all the other trade creditors. All of those debts are current too - they're all repayable on demand (albeit the creditors have had to resort to County Court summonses, Stat Demands or Winding-Up petitions).

Why does anyone think that this mess will be solved by any other means than administration? It's the only sensible way to park the debts and get the club out of the stupid contracts that Jordan has got it into (albeit, sadly, at a cost of ten points and any shot at promotion this season). As for Celestial Empire's wet dream of phalanxes of lawyers and accountants acting for American investment groups fighting rich Arabs and local consortiums for control of Palace, yes I'm sure that's happening as we speak...

So I stick by my previous post-

"But seriously I think we will have sold a few players to keep the wolf from the door or we will be in the process of leaving administration.With the debts cleared there is an opportunity for a investor. Jordan does not want the second option as he will take a massive hit."

What is good for Jordan is now the complete opposite of what is good for the club.Let's see where this takes us. AFC Palace sounds good and would be a break from the boredom

 

[wigman]

So I stick by my previous post-

"But seriously I think we will have sold a few players to keep the wolf from the door or we will be in the process of leaving administration.With the debts cleared there is an opportunity for a investor. Jordan does not want the second option as he will take a massive hit."

What is good for Jordan is now the complete opposite of what is good for the club.Let's see where this takes us. AFC Palace sounds good and would be a break from the boredom

If your finances are that bad , why is the club giving deals like 4 league games for £20 ?

 

[Jamie]

So I stick by my previous post-

"But seriously I think we will have sold a few players to keep the wolf from the door or we will be in the process of leaving administration.With the debts cleared there is an opportunity for a investor. Jordan does not want the second option as he will take a massive hit."

What is good for Jordan is now the complete opposite of what is good for the club.Let's see where this takes us. AFC Palace sounds good and would be a break from the boredom

Chill out - a bit anyway. "Palace" will survive. People owed money want what they can get and the club of Palace has value because it has customers. As such the "club" wll be sold to someone in the administration, as long as someone wants to pay something for it, which they will. But it sounds like sehurst may go if its in the hands of administrators of a company that are nothing to do with the club. Reason is that the administrators will want the best price for the property and I would have thought retail or housing will raise most cash for the creditors. But Palace will survive, maybe a ground share and then a return to croydon. After that, well if you have a benefactor like Bloom, then you may even "do a brighton". You deserve a bit of misery tho' you have had it far too easy compared to us over the last 20 years. By the way, your away support is sh!te

 

[philsussex]

I don't know how true this is but I read somewhere that if Palace don't pay their players by 14th January, they can walk away from the club for free, losing any potential fee for players like Moses.

 

[Helter]

someone will bail them out, lucky old Palace. Fingers crossed that gold and sulliavan buy West Ham

 

[Bwian]

Chill out - a bit anyway. "Palace" will survive. People owed money want what they can get and the club of Palace has value because it has customers. As such the "club" wll be sold to someone in the administration, as long as someone wants to pay something for it, which they will. But it sounds like sehurst may go if its in the hands of administrators of a company that are nothing to do with the club. Reason is that the administrators will want the best price for the property and I would have thought retail or housing will raise most cash for the creditors. But Palace will survive, maybe a ground share and then a return to croydon. After that, well if you have a benefactor like Bloom, then you may even "do a brighton". You deserve a bit of misery tho' you have had it far too easy compared to us over the last 20 years. By the way, your away support is sh!te

Crippled Alice are only tenants-they do not own their ground.

 

[Hunting 784561]

Typical south london pikey folk. Either on the run from the rent collector, or the tallyman.

:dregs:

 

[26-10-02]

Chill out - a bit anyway.

Don't worry about me I am chilled.Been through it before you see.Then we really thought we were f***ed.I feel sorry for Jordan as he is going to lose big time ,you lot probably don't ,but he bought the club as a fan and has f***ed up,not because he was greedy just too ambitious.I think he let his heart rule his head for a few years .

 

[West Hoathly Seagull]

Will those who persist in calling Dick Knight, "Dick Tight" or "Potless Pillock" please read this thread. Use Simon Jordan as your lesson.

 

[26-10-02]

If your finances are that bad , why is the club giving deals like 4 league games for £20 ?

You haven't been reading the posts on here Don't you know our support is shit so we have to get people in.Next they'll be paying us.

 

[TomTheEagle]

It makes me laugh that most of you think Brighton is a bigger club than 'Palarse' thumbsup. Swansea away for us is a regular fixture, it's like a cup final to you. Don't get loud bruuuuv

 

[Jamie]

It makes me laugh that most of you think Brighton is a bigger club than 'Palarse' thumbsup. Swansea away for us is a regular fixture, it's like a cup final to you. Don't get loud bruuuuv

weid, wigan play man u but both brighton (you jknow the onced crowbne champions of england) and palace (you know the undisputed champions of er croydon) are vastly bigger than wigan. .. oh and by the way your away support is sh!te, has anyone mentioned that before

 

[TomTheEagle]

weid, wigan play man u but both brighton (you jknow the onced crowbne champions of england) and palace (you know the undisputed champions of er croydon) are vastly bigger than wigan. .. oh and by the way your away support is sh!te, has anyone mentioned that before

Has anyone ever mentioned you can't spell?

 

[Jamie]

Has anyone ever mentioned you can't spell?

yes, and I cant type either, problem? By the way has anyone mentioned your away support is sh!te?

 

[Bwian]

It makes me laugh that most of you think Brighton is a bigger club than 'Palarse' thumbsup. Swansea away for us is a regular fixture, it's like a cup final to you. Don't get loud bruuuuv

How does that work when Swansea only got promoted in the 2007/08 season? I make it that you may have played them once before this season since 1986-hardly a regular fixture, once, is it?

 

[Selhurst Wonderland]

yes, and I cant type either, problem? By the way has anyone mentioned your away support is sh!te?

Yes..you have...many,many times!
You've also mentioned your charity shield 'triumph' many,many times!
You've also mentioned the electrical fault on the trains many,many times!
You've also had the affrontery to mention that you were 'champions of England' many,many times!
You are,without doubt,a very boring,tedious **** many,many times over!

 

[26-10-02]

Yes..you have...many,many times!
You've also mentioned your charity shield 'triumph' many,many times!
You've also mentioned the electrical fault on the trains many,many times!
You've also had the affrontery to mention that you were 'champions of England' many,many times!
You are,without doubt,a very boring,tedious **** many,many times over!

How the f*** did they win the charity shield,they got annihilated at wembley in the cup final and manure didn't win the league.As for it beibng prestigious I would have thought winning the ZDS was a bigger deal as all the clubs were in it and we actually had to win a good few games to get through.

 

[johnnyrocketpants]

Calm down son, calm down...