Palace's financial results (waiting, waiting, waiting...)

[Seagull over Canaryland]

Their plan is to sell a player who has risen up through the academy ranks every 2 years for £10M+. They have Williams to flog but it looks like they don't have any more "superstars" progressing. Crewe Alexandra had the same idea which worked for many years but eventually the youth players in the academy aren't there because any potential "good-uns" are going to bigger clubs.

Yep. You have to think that even if the Zaha cash is used to offset some existing debts and operating costs and maybe a smaller amount is used for transfers that they just don't have enough other income (gate receipts, commercial business etc) or meaningful assets (a run down Selhurst?) to break even. Meanwhile somehow CPFC have to find the budget for the new stadium or redevelopment of SP. The sums will be interesting.

It is fascinating seeing how all the different Clubs will approach the matter of containing their costs and moving into FFP. There will be one or two that go for the 'get to the Prem at any cost, s**t or bust' approach plus those that have the parachute money to artificially ease their way.

Palace fans should know more than most why it is important for them to scrutinise the Club's accounts and shouldn't be surprised why the enlightened fans from other Clubs that have previously sailed close to oblivion like The Albion are watching with interest, especially when it is one of your rivals.

 

[Northstandite]

I shall agree to disagree with you on your second and third points. Still think it is a bit weird having this much interest in accounts being submitted, mind you I also think it is weird having an unhealthy fascination with attendance stats, maybe it is me that is odd? And you call us Nigels.

If you ever manage to move to the mooted 130,000 capacity stadium in Crystal Palace itself, many of your fans will suddenly take an interest in the growth of the club financially and in terms of attendances relative to rivals.

Football accounts stats are now much in the news and sports websites/newspapers, with the massive growth of football over the last 20 years. Not just a few anoraks.


Regarding CP accounts, they will show a significant loss. Almost every club in the division does so why would CP who averaged awful crowds last year and have few corporate seats = low income, be any different.

In addition, CP fans often mentioned extraordinarily high wages being paid to some eg Spironi and Ambrose.

 

[El Presidente]

I have no reason to worry about our accounts. We haven't been throwing money at strikers to fill a gap left by a striker we lost for nothing or throwing money at a Spanish has been to sit on the treatment table (or in a villa on the costas). As you know we haven't thrown money at our ground so I am not expecting huge losses. Without any received transfer funds I would expect a small operating loss as seems the norm with football clubs but we do have some millions from Zaha although not sure if they are recognised as yet.

I do believe we have responsible owners who will live within their means and as such am not worried. You all seem to think Goldberg and Jordan are in charge again - I don't see what you are basing your suspicions on? Or is it just that you don't like Parish's hair?

Palace made a loss of £5.3 million in the 15 months to 30 June 2011. Difficult to compare them to previous years as Palace did not submit their accounts due to administration related issues.....

I anticipate the losses being about £2-3 million if/when they file the 2012 accounts.

 

[Se20]

Palace made a loss of £5.3 million in the 15 months to 30 June 2011. Difficult to compare them to previous years as Palace did not submit their accounts due to administration related issues.....

I anticipate the losses being about £2-3 million if/when they file the 2012 accounts.

I agree on that £2-3 mill figure.
The original £5.3 mill loss included honouring st sales from Jordans reign.
Apparently we changed auditors, don't know why, but I'm sure some of you will have your views on it !!

 

[Northstandite]

Palace made a loss of £5.3 million in the 15 months to 30 June 2011. Difficult to compare them to previous years as Palace did not submit their accounts due to administration related issues.....

I anticipate the losses being about £2-3 million if/when they file the 2012 accounts.

Will it surprise you if they are at least £5m for the 12 months for 2011/12?

 

[El Presidente]

Apparently we changed auditors, don't know why, but I'm sure some of you will have your views on it !!

As much as I am loathe to say it, no nefarious reasons according to my source!

 

[El Presidente]

Will it surprise you if they are at least £5m for the 12 months for 2011/12?

Palace's average attendance last season was approximately the same as 2010/11, in addition they had a decent cup run, so I am expecting an improvement.

 

[seagullsovergrimsby]

Palace's average attendance last season was approximately the same as 2010/11, in addition they had a decent cup run, so I am expecting an improvement.

I think nearly all of the STH's who were finishing multi year deals which were honoured by CPFC2010 will have renewed to bring in extra revenue that wasn't there in the previous season.

 

[pauldcpfc]

Their plan is to sell a player who has risen up through the academy ranks every 2 years for £10M+. They have Williams to flog but it looks like they don't have any more "superstars" progressing. Crewe Alexandra had the same idea which worked for many years but eventually the youth players in the academy aren't there because any potential "good-uns" are going to bigger clubs.

Not entirely true on the "superstar" front, there are a few more gems in there. Will they be of Williams potential? Maybe not, but some of them have potential 10x what Zaha had at their ages. Hard work got him into the team and the Premiership as he was little more than a #2 striker aged 15.

Reise Allassani is the main one to look for, if he was a little bit bigger, he'd be in the first team picture already. But, there are more in the academy, it's just Lolloway prefers to buy his mates and play older players instead of giving the younger squad members (Parsons, Boateng, De Silva, Banton etc) a spot on the bench.

As for finances, I would expect a loss of around £3m. 2010/11 finances should be higher due to the fact Burley and Freedman had to pretty much buy a new squad. There was the cup run that earned £1m or so. But, there was higher wages from a few new players.

Does anyone know how many teams break even or come close to profit in the Championship?

 

[seagullsovergrimsby]

Does anyone know how many teams break even or come close to profit in the Championship?

I don't think there are any. There must be a handful of clubs in The Championship spending out too much on wages at present who will be totally screwed by FFP.

 

[Triggaaar]

some of them have potential 10x what Zaha had at their ages.

According to Palace fans, Zaha has the potential to be as good as Ronaldo. Given what potential means, he also had that potential when he was 15 (or any other age). And you say that some of your players have 10 times that potential. Blimey.

 

[El Presidente]

I don't think there are any. There must be a handful of clubs in The Championship spending out too much on wages at present who will be totally screwed by FFP.

For 2010/11 (the last season for which I have figures for all the clubs in the division), the only clubs that made a profit were Barnsley, Burnley, Leeds and Scunthorpe, who between them made a profit of £4.1 million. The other clubs in the division made a collective loss of £131.1 million.

 

[pauldcpfc]

According to Palace fans, Zaha has the potential to be as good as Ronaldo. Given what potential means, he also had that potential when he was 15 (or any other age). And you say that some of your players have 10 times that potential. Blimey.

No.

He has the current potential to go as far as he wants. He has the desire to go as far as he wants. But, he was never expected to be this good, as I said previously. He progressed incredibly fast in one season. In what was his make or break season really as there was no guarantee of him getting a contract on top of his youth deal early in the 09/10 season.

Moses--Bostock--Williams--Allassani. They're the ones that were highly rated and wanted by high up Premier and European teams when they were 13/14.

 

[El Presidente]

No.

He has the current potential to go as far as he wants. He has the desire to go as far as he wants. But, he was never expected to be this good, as I said previously. He progressed incredibly fast in one season. In what was his make or break season really as there was no guarantee of him getting a contract on top of his youth deal early in the 09/10 season.

Moses--Bostock--Williams--Allassani. They're the ones that were highly rated and wanted by high up Premier and European teams when they were 13/14.

I think Williams is mustard. What possessed Wurzel to substitute him against us at the Amex?

 

[Working class pride]

Did they lose money despite the sale of Zaha?

 

[Lethargic]

Not entirely true on the "superstar" front, there are a few more gems in there. Will they be of Williams potential? Maybe not, but some of them have potential 10x what Zaha had at their ages. Hard work got him into the team and the Premiership as he was little more than a #2 striker aged 15.

Reise Allassani is the main one to look for, if he was a little bit bigger, he'd be in the first team picture already. But, there are more in the academy, it's just Lolloway prefers to buy his mates and play older players instead of giving the younger squad members (Parsons, Boateng, De Silva, Banton etc) a spot on the bench.

As for finances, I would expect a loss of around £3m. 2010/11 finances should be higher due to the fact Burley and Freedman had to pretty much buy a new squad. There was the cup run that earned £1m or so. But, there was higher wages from a few new players.

Does anyone know how many teams break even or come close to profit in the Championship?

It looks like every club will make a lose and most of them are significant amounts, Derby I believe we're around the same as us, to be honest if your loses are as low as £3mill that's quite impressive I think a lot of clubs are going to struggle with FFP.
I know we seem in trouble but I think we are ahead of most clubs in terms of meeting the rules next year remember almost every revenue stream is league 1 standard but costs are predominately championship level as of next year these will be balanced and hopefully income increased dramatically.

 

[Sweeney Todd]

Like pauldcpfc, I abhor modern football.

 

[Se20]

Did they lose money despite the sale of Zaha?

The accounts are for last season.
This season we've took £15 mill approx in transfer fees, so next year it should look healthier

 

[pauldcpfc]

I think Williams is mustard. What possessed Wurzel to substitute him against us at the Amex?

Lolloway

Apparently Jonny cared too much about being 2-0 down. How dare a player who has been with Palace since he's a kid and is a Palace fan actually care about being 2-0 down.

The bloke is a clown and the sooner he's gone, the better.

 

[Working class pride]

It looks like every club will make a lose and most of them are significant amounts, Derby I believe we're around the same as us, to be honest if your loses are as low as £3mill that's quite impressive I think a lot of clubs are going to struggle with FFP.

Im probably barking up the wrong tree but if the have received £10 Million (was it) for Zaha already and still lost £3 Million then that is not good at all?