Palace go into administration...

[Giraffe]

Can't decide whether this is good or bad news. Invariably clubs that go into administration either 1) get relegated and struggle for a few years or 2) go from strength to strength. I think the key will be whether they sell their best players or not. If they go then the slide may begin.

 

[clapham_gull]

So Ron Noades wants fans to put pressure on the administrators so he make money again on the freehold of the ground.

Lovely stuff.

 

[clapham_gull]

Can't decide whether this is good or bad news. Invariably clubs that go into administration either 1) get relegated and struggle for a few years or 2) go from strength to strength. I think the key will be whether they sell their best players or not. If they go then the slide may begin.

Don't the clubs who send themselves into administration and come out smelling of roses tend to be the ones who do it themselves.....

 

[beorhthelm]

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 very clear fact is when Noades sold the club he seperated the ground, for no good reason, other than the obvious potential for redevelopment. like you say, shrewd. Jordan probably did spend too freely, thats a fan for you, and was not getting full revenue from the ground. the buy back... how did he end up not owning the ground? im not sure if its something i read at the time, somthing i was told, but my recollection was that Kemsley knew Noades from some old business dealing and came to some arrangement. put it this way, Jordan knew him and was using him to get one over on Noades, Noades happily sells the ground but Jordan ends up somehow without the ground still (and out of pocket? never quite sure if he paid for the deal). If you think Noades will save/keep you from administration... you are probably right. but you will probably be spending alot of time watching your football in SE16 too.

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

i think the players contracts are in the deal too. theres an implication that Jordan has sunk an awfull lot of his own money in and this sort of deal was all that was left. be interesting to see where he is in the rich list this year.

 

[roffeyeagle]

This was forced administration of course, I think how this affects us long term depends on 1) the type of investor we can get, 2) how quickly they buy the club, 3) the plausbility of uniting club and ground and 4) how many players we can keep. I genuinelly believe if we stave off relegation this season this administration will undoubtedly benefit the club. This is mainly because no-one would have bought the club of Jordan because of the level of debt, the lack of ground and also the fact that no-one wanted to deal with him. Now, the debt will be reduced, the ground is available at a price between £12-15m and there's a fresh start involved. It will still need to involve a purchaser with deep pockets who is willing to plough significant sums of cash into the club before they'll see a return.

 

[clapham_gull]

If the ground is going cheap, why hasn't somebody picked it up already, I presume the administrators (on the ground side) have already turned down a few bids.

 

[roffeyeagle]

the very clear fact is when Noades sold the club he seperated the ground, for no good reason, other than the obvious potential for redevelopment. like you say, shrewd. Jordan probably did spend too freely, thats a fan for you, and was not getting full revenue from the ground. the buy back... how did he end up not owning the ground? im not sure if its something i read at the time, somthing i was told, but my recollection was that Kemsley knew Noades from some old business dealing and came to some arrangement. put it this way, Jordan knew him and was using him to get one over on Noades, Noades happily sells the ground but Jordan ends up somehow without the ground still (and out of pocket? never quite sure if he paid for the deal). If you think Noades will save/keep you from administration... you are probably right. but you will probably be spending alot of time watching your football in SE16 too.

.

You have been mislead here. When Goldberg bought the club he didn't have enough capital to buy the club including the ground. I think the deal was £40m with club and ground but Goldberg could only raise £30m. Noades said he'd keep the ground until you raise more capital. In the end it turned out Goldberg could only raise £23m and Noades had to loan the rest. You do wonder why Noades sold the club to someone obviously that incompetent. But it was never his intention not to sell the ground to Goldberg. I think Jordan is to blame for not making the purchase of the freehold the number one priority. Afterall, what is a business without its property?

 

[roffeyeagle]

If the ground is going cheap, why hasn't somebody picked it up already, I presume the administrators (on the ground side) have already turned down a few bids.

I'm not sure, but I believe there is some legislation in place at the moment that means that Selhurst can only be used for recreational and leisure purposes only. I'm not sure if that is a permenent position or not.

 

[clapham_gull]

Afterall, what is a business without its property?

Brighton and Hove Albion Football Club

 

[Juan Albion]

I'll give 'em 50p for Moses.

 

[Jamie]

Next year we'll see you all next year . Are you Luton in disguise ?

nah not Luton, Luton own there ground. At the palace, the ground is owned by one company that is in administration and now the club itself is in administration. A pretty pickle, so who will buy a club without a ground? We had a Bloom, do they? If not its accrington stanley time never mind Luton

 

[South Coast Eagle]

It's sad to see any club go into administration, they should have listened to that nice Mr Brown!

OK we can gloat but I remember how supportive Palace were on Fans United day, who can forget those messages of support for us on the railings in the park opposite the Goldstone.

I hope it works out for them and they come back in a financially stronger position. But not stronger on the pitch!

Mate, I got as far as this post with a smile, especially after reading about when myself & fellow Palace fans demonstrated on behalf of B&HA. I was there & felt priviledged to add to your cause.

Anyway, back to my point for posting...

I spent 5 hours in Cadiz three years ago on a very brief stay off through work, managed to get two hours by the seafront having a few beers alfresco & watching the cruise ships come in. In August myself & the missus will be in Cadiz stopping off on a cruise & are really looking forward to it because Cadiz was the only short time away on business I managed to relax!

Let me know if you're close to the port, I can probably persuade the 22 of our group (there for a honeymoon *inbreds have to bring family*) and the majority of them are Brighton & Saints fans, to spend the day at a bar you can recommend

 

[looney]

Noades: Brain but no heart
Orange: Heart but no brain

sad.

 

[Garry Nelson's Left Foot]

Far too many posts to read all of them so if the following has already been asked/replied to, apologies.

1)I don't think Palace will go down. They've spent the season just outside the play off places despite having the money issues and not being paid. Unless their whole first team is sold off I imagine they'll pick up enough points to stay up. Thus the 10 point penalty will be irrelevant.

2) It seems to be only the small clubs that get destroyed by administration. The mid size clubs and up seem to get through it fine- Leicester, Leeds and Southampton all spring to mind. I can't help but think that palace will start next season still in the championship and debt free(or very small debts). The bastards.

3) I can't work out if '2' is a good or bad thing. On the one hand I'd quite like to see them slinking around the lower leagues snatching last minute draws against the club that's 24th in league one. What a glorious dollop of schadenfreude that would be to see them suffer like we've had to. On the other hand, things are looking up for us and we're (hopefully) heading for the championship. I would love for us to play them regularly again in front of full houses home and away.

 

[Cheeky Monkey]

Agree entirely TCB - can't wait to see the updated league table with them just above the relegation zone. It's outrageous how happy this situation is making me.

 

[Taybha]

after a 8 hour drive at 35 mph.... i hope they appeal, lose, and get demoted to the tibetan sunday league where that slimey fat greaseball orange fingers in the till jeb end gets dalai lamad up the chuffpot by a yak and a sword wielding buddhist monk wearing a sharp pointy hat.... Going to bed sassan frassan crassan german fkn cars

 

[Brovion]

This was forced administration of course, I think how this affects us long term depends on 1) the type of investor we can get, 2) how quickly they buy the club, 3) the plausbility of uniting club and ground and 4) how many players we can keep. I genuinelly believe if we stave off relegation this season this administration will undoubtedly benefit the club. This is mainly because no-one would have bought the club of Jordan because of the level of debt, the lack of ground and also the fact that no-one wanted to deal with him. Now, the debt will be reduced, the ground is available at a price between £12-15m and there's a fresh start involved. It will still need to involve a purchaser with deep pockets who is willing to plough significant sums of cash into the club before they'll see a return.

Yeah, that's what worries me, especially the bit I've highlighted. Obviously I want to see you suffer: lose Selhurst Park, share with Gillingham, then have a temporary home at somewhere like Croydon Aerodrome with crowds of 6000 before finally, eleven years later, moving into a lovely new stadium in Crystal Palace park. However it only seems to be the smaller clubs who suffer the worst fates (Aldershot, Maidstone Utd and Newport County for example). When clubs roughly the size of Palace (such as Leicester, Leeds and Southampton) go into Administration the worst case scenario always seems to be avoided: they'll be a bit of financial jiggery-pokery behind the scenes, papers will get shuffled, arcane financial rules and devices will be invoked and, voila! A new Palace will emerge, fitter and stronger than before. Maybe with a load of pissed-off creditors who've had to accepot tuppence in the pound, but that's football for you.

And if you get away with just selling Moses and maybe one other then I for one hope you DON'T get relegated simply because of points deductions. The fact is you're play-off contenders in the Championship. If you put the bulk of that Palace team in our division it would be too strong for most sides - including us.

So I'm not celebrating the news of your Administration just yet - but for different reasons!

 

[beorhthelm]

You have been mislead here.

erm... ok. touche? look at the numbers, why didnt Noades offer a 50% share? he seperated the ground all too quickly and everybody but a Palarse fan can see exactly what he done, he knew Goldberg would f*** it up and was waiting for that. then there's his public refusal to selling the ground back to Jordan. i didnt realise you lot were so blinkered as to what has transpired. enjoy the bowling and megastore

 

[Knotty]

My opinion back then was that i wanted zero help from palace but that was my view and many on here will agree with you.

Til the day i die i would never ask for any help from palace fans

What an incredibly small-minded and childish view. Grow up.