seagurn
Well-known member
Palace don't own their ground noads does!
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Palace go into administration...
- Thread starter Trigger
- Start date
Palace don't own their ground noads does!
Barrel of Fun
Abort, retry, fail
He kept the club going for years as the interest and penalty clauses on his loans and the loans of his chums were most welcoming. Oh and the fact that they were happy to sell off the crown jewels with no intention of building an alternative stadium. We don't owe Archer anything as he wrote off the 49% that he owned.
We owe him a good kicking though.
roffeyeagle
New member
- Jan 12, 2010
- 36
Noads doesn't own the ground, neither does Ron Noades. The ground was bought by Rock Comapny and that company is now in administration with debts of £500m. Please get your facts right.
Rock Company owe 500 million and gone into administration so that means the creditors will sell the ground for housing development . Fantastic news, Palace will be homeless
Basil Fawlty
Don't Mention The War
Pull your pant's up and move away from the mirror
HTH
Go and sale your caravan, then you maybe abled to help pay your players wages!
roffeyeagle
New member
- Jan 12, 2010
- 36
Rock Company owe 500 million and gone into administration so that means the creditors will sell the ground for housing development . Fantastic news, Palace will be homeless
Though, ironically. Noades has set the wheels in motion to buy the ground back, sparking speculation that he is setting up a consortium to buy the club. This one is going to run and I have no idea what's going to happen.
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 35,429
exactly. £30m debt, nothing but a lease on the ground, future cash and player registrations all borrowed against, there are no assets but the name of the club. i seem to recall recent talk that half the stadium is likly to be condemed soon without major refurbishment work. only a super rich fan would touch it, and i think the only one going it Jordan.
i feel a little sorry for the orangee one, he's apparently been pumping cash in for years yet is seen as the bad guy while people are actually calling for Noades to return who set them on this path in the first place. its like us asking for Archer to come back.
seagurn
Well-known member
is noads a director of rock roffey?
Hope you don't get Malcolm Filmore in as administrator he'll shaft you the wan==r
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 35,429
that was the rumour at the time. Jordan tried to outsmart him by using a vehicle company to by the ground back but in the process ended up paying for the ground but not owning it. the guy who is supposedly owns the company is a property developer who was mates with Noades... add it up. funny how even with Rock in administration Jordan couldnt acquire the ground.
roffeyeagle
New member
- Jan 12, 2010
- 36
No, Noades has nothing to do with Rock. Rock was the company that bought Selhurst off Noades a few years back, a company that Jordan used to get the ground off Noades. Noades made an offer for the ground a couple of weeks ago, but any decision will be accelerated one way or another with today's events.
We've got the same administrator as Luton had so that doesn't sound particularly promising, but he did say that there are many interested parties so doesn't believe we'll be in administration that long. Seems like administration was the only way Jordan would no longer own Palace as no investors would be willing to take on our debt. Shit for now, but hopeful something good will come of it.
roffeyeagle
New member
- Jan 12, 2010
- 36
It was Paul Kemsley, an ex-Director of Tottenham who owned Rock. And he was mates with Alan Sugar and not Noades. Jordan had and still had (until today) a buy-back option on the ground but obviously due to the club's predicament and his own personal issues he obviously couldn't afford it. The situation at the moment is hazy so it would be better for Noades to own the ground than the administrators to be honest.
nicko31
Well-known member
Sad to see any club in trouble, even if it is our little south london dweebs. That aside, 10 pts is not enough for administration, they will probably still stay up. If I was owed a shit load of cash -30 pts would be far more appropriate...
roffeyeagle
New member
- Jan 12, 2010
- 36
It's a tough one. Noades has to take some responsibility for the way we went into administration last time, but the actual facts are unclear. The one thing Noades was and always will be is a shrewd businessman. Under Noades we had the most successful period in our history (FA Cup final, ZDS Cup winners, 3rd in the Old First Division, 2 promotions to the top flight etc.), he began the ground redevelopment (the 2 ends are modern) and he ran a tight ship, while still spending record transfer fees on the 1st million pound goalkeeper (Martyn) and teenager (Bruce Dyer). The one thing that all Palace fans believe is that we could never go into administration with Noades as our Chairman. Jordan chased the dream, spent too much in his first few seasons and without our season in the Premiership and subsequent parachute payments this day would have come a few seasons ago. It didn't work for him because he put emotion over business-sense.
The thing is we look unattractive in the interim, we don't own the ground or even our training ground. But, we have one of the best academies in the country, we have a potentially massive fan base and we have a good history. Long term we are very investable, I guess the same could be said of you lot as well. We are you pre-Falmer, but, in my opinion, more long-term potential. You're right though, we need a fan to put his hand in his pocket or someone of the Gold/Sullivan ilk to run us properly, get our debts into order, unite club and ground and slowly build us up, ensuring the academy is utilised properly. I don't know though, it's all speculation at the minute.
clapham_gull
Legacy Fan
- Aug 20, 2003
- 25,509
I'm reading the debt owned to Agilo (the company that are owed 5 million and called in the administrators) are secured.
Secured on what exactly ? The players contracts ?
Edited:
http://www.guardian.co.uk/sport/blog/2008/oct/01/crystalpalace
Secured on what exactly ? The players contracts ?
Edited:
http://www.guardian.co.uk/sport/blog/2008/oct/01/crystalpalace
Last edited:
roffeyeagle
New member
- Jan 12, 2010
- 36
I believe they are secured on future player sales. Therefore, no substantial offers for Moses, Ambrose, Speroni etc., no money in. Another sign of Jordan's incompetent business-sense.
clapham_gull
Legacy Fan
- Aug 20, 2003
- 25,509
He claims in the article he had no reason to borrow the money, but it was a commercial decision to do so.
He says a lot your chairman, like given the impression he had bought back the ground.
roffeyeagle
New member
- Jan 12, 2010
- 36
Yeah I know, he hasn't covered himself in glory. The current thinking on this is that he got a mortgage to cover his own expenses. I.e. replace his money in the club with outside money. He knew the ship was sinking, so got his assets, or as much as he could, out when he could.
brighton rock
New member
FORMER Crystal Palace chairman Ron Noades has revealed that he has made a bid to buy Selhurst Park - and says purchasing the ground is vital in taking the troubled club forward.
The Eagles went into administration on Tuesday afternoon, with P & A Partnership taking control of running the Championship outfit.
And Noades, the club's most successful chairman, has told the South London Press that he recently tabled an offer for the Eagles' ground, which is currently in the hands of administrator
PricewaterhouseCoopers after Rock Investment collapsed with debts of £500million.
"I made an offer to PricewaterhouseCoopers," said Noades. "I had a group of people that would have bought the freehold and leased it back to the club at half the rent that [Simon] Jordan had.
"The fans have got to put PricewaterhouseCoopers on the spot to sell the freehold because if they come out of administration having re-acquired their own freehold then that would be a wonderful opportunity to start again.
"PricewaterhouseCoopers said they would come back to us but they didn't and that was four weeks ago.
"Sorting out the freehold would facilitate an easier path for Palace to come out of administration. The security of the club has got to be the aim."
The Eagles went into administration on Tuesday afternoon, with P & A Partnership taking control of running the Championship outfit.
And Noades, the club's most successful chairman, has told the South London Press that he recently tabled an offer for the Eagles' ground, which is currently in the hands of administrator
PricewaterhouseCoopers after Rock Investment collapsed with debts of £500million.
"I made an offer to PricewaterhouseCoopers," said Noades. "I had a group of people that would have bought the freehold and leased it back to the club at half the rent that [Simon] Jordan had.
"The fans have got to put PricewaterhouseCoopers on the spot to sell the freehold because if they come out of administration having re-acquired their own freehold then that would be a wonderful opportunity to start again.
"PricewaterhouseCoopers said they would come back to us but they didn't and that was four weeks ago.
"Sorting out the freehold would facilitate an easier path for Palace to come out of administration. The security of the club has got to be the aim."
brighton rock
New member
Perkino
Well-known member
- Dec 11, 2009
- 5,994
we'd see a completely empty ground!