And therein lies the truth about that pompous orange cnut. He will not give a shit about who he drops in it and who does not get their money. Horrible nasty piece of work and the sooner our Glazier chums get shot of the twat the better for them.
So if it all does go its up for our neighbours, what does it mean for the orange buffoon? Will he lose his house in Marbella and all his ferrari's? Will he be made bankrupt?
Found this on 200%. Lengthy, but thought it was interesting.
........................................................
A curious question, but one that is worth answering. This week has seen reports that the financial damp rot that seems to have infected football is now spreading up the chain. Non-league clubs are the most at prone to financial ruin for the simple reason that not many people are that interested in what happens to them on a day-to-day basis, but higher up the ladder there are signs that clubs are starting to feel the pinch this may be reaching as high now as the Championship, with stories now being reported about the possibility of difficult times at two clubs that should surely be able to hold their own financially: Crystal Palace and Watford.
At Crystal Palace, the players haven’t been paid and this story is being glossed over as some sort of minor issue of cashflow. Palace, however, have had brushes with financial difficulty before. In 2000, Simon Jordan arrived at the club with last minute buyout to rescue the club from having to enter into administration. Since then they have, some would argue, under-performed, only having managed one season in the Premier League in the last decade, and there have been difficulties off the pitch too. It seemed possible until last summer that they could be forced to leave Selhurst Park before a new lease was finally signed and the club have a good start to the season in the Championship, but paying the wages would seem to signify a major problem at the club.
No matter what other bills aren’t paid and no matter what lengths have to be gone to in order for this to happen, the players will always be paid. There is a good reason for this. Unless they sign a deferral agreement, players theoretically become free agents if they are paid just fourteen days late, although more commonly two months would be the accepted time span for players to up sticks and go elsewhere. The fourteen day period would explain why Neil Warnock was so keen to point out that the players will be paid no more than ten days late. Palace have had a decent enough season so far. They are, at the time of writing, in eleventh place in the table but are just two points off a play-off spot. It would be nothing less than a calamity for the club if the squad started to break up for financial reasons.
With the January transfer window just a few weeks away, the temptation might be to offload some players, but this would be not much more than sticking their finger in the dam of their debts and hoping for the best. With other clubs fully aware of their financial predicament, the value of their players would be likely to drop and they would end up disrupting a squad that has half a chance of making the Premier League. Simon Jordan has had Crystal Palace up for sale for some time, but so far there have been no takers. David Sullivan’s name has been linked with them, but is the asking price too high, or is this simply the wrong time to be trying to sell a loss-making football club? Ultimately, it feels as if Crystal Palace have become over-reliant on Simon Jordan, and if his money has run out with no buyer in sight, then they may end up with long term problems as well as the short term ones that they are currently experiencing.
The team that they beat 3-0 last weekend, Watford, find themselves in a similarly intractible situation. Manager Malky McKay was widely expected to face an uphill struggle to keep his side in the Championship this season, but they currently sit in ninth place in the table. Off the pitch, however, the club seems to be sliding into trouble with the amounts of money being mentioned being utterly unsustainable for a club of their current status. They were loaned £1m by chairman Jimmy Russo last Friday, but the club has already announced that unless they get another large injection of cash by the 22nd of December, their holding company, Watford Leisure, may have to consider suspending trading on the Alternative Investment Market unless they can find a further £5.5m.
The club has made noises about seeking “outside investment”, but who is going to invest millions of pounds in Watford Football Club, with the likelihood of making anything like a return being next to zero? It is the figure of £5.5m that is the most troubling aspect of the Watford situation. Is this brinkmanship on the part Russo (and his brother), or is the situation there as desperate as it seems on the surface. Ultimately, suspension of trading in Watford Leisure would be highy likely to force the club into administration, and this would obviously cause the club major difficulties (they own Vicarage Road, for example) both on and off the pitch.
Set against the difficulties at Crystal Palace and Watford, the £70m spent on players agents by Premier League clubs over the last twelve months or so is thrown into pretty sharp focus. This is such an astronomical amount of money to spend on, well, whatever it is that agents do that could conceivably be judged as having any benefit to anyone other than the players concerned or the agents themselves, that it requires a degree of scale to put it into perspective. Kings Lynn Football Club’s HMRC debt (although it is worth pointing out that they have more debts than just this) is £65,000, and it might send them to the wall. At a higher end of the spending scale, Dartford Football Club’s state of the art Princes Park stadium cost £7m to build, and includes an all-weather training pitch, bars and a banquet suite. That’s one-tenth of what Premier League football clubs spent on agents… last year.
It shouldn’t even need to be said that football clubs of the size of Crystal Palace or Watford don’t have to be financially unviable. What we learn from the current predicaments of both clubs is that there is no one size fits all cause for the difficulties of clubs of this size, and there isn’t really a one-size fits all solution for it, either. Having said that, however, living within ones means is a good start – it just so happens that, in the case of these two particular clubs, the specifics relating to their situations a mixture of years of slight neglect and something approaching mismanagement by osmosis. And meanwhile, the Premier League carries on frittering money away on agents. Sometimes it feels as if we living in the last days of Rome.
[cite]Posted By: BDL[/cite]So if it all does go its up for our neighbours, what does it mean for the orange buffoon? Will he lose his house in Marbella and all his ferrari's? Will he be made bankrupt?
This is the problem. It's so obvious that despite trying to portray himself as a playboy millionaire he is for all intense and purposes broke. For example the £5m he said he had personally pumped into CPFC, was actually commercial loans taken out by CPFC Plc at stupid rates of interest. The tango cupboard is bare and he appears to be out of options.
I cant see SJs ego or lifestyle letting him walk away without getting back some of the money he's put in and no one in their right mind is going to pay c£30m for the name of a football club, players contracts which are running down, a load of debts, CCJs and stupidly high rental agreements on a dilapidated stadium - which needs huge amounts of work and money invested into it -, dwindling crowds, ST sales (c5000) from which the revenue for the next 2-5yrs has by and large already been realised and spent, and no training facilities...........
Despite all the banter that I've had with them I genuinely feel for the Palace fans as, no one would want to see a club in this sort of mess. I fear for Palace as unlike other clubs who have gone into admin, they have very little in the way of assets. The future looks very bleak indeed and I wish them all the best. Perhaps a firesale is only way forward, but even this will just be a temporary solution.
Yet again, but for utterly different reasons, Im very grateful my old man decided to take me to The Valley in '80 and not Sellhurst. Good luck to them.
[cite]Posted By: BDL[/cite]So if it all does go its up for our neighbours, what does it mean for the orange buffoon? Will he lose his house in Marbella and all his ferrari's? Will he be made bankrupt?
This is the problem. It's so obvious that despite trying to portray himself as a playboy millionaire he is for all intense and purposes broke. For example the £5m he said he had personally pumped into CPFC, was actually commercial loans taken out by CPFC Plc at stupid rates of interest. The tango cupboard is bare and he appears to be out of options.
I cant see SJs ego or lifestyle letting him walk away without getting back some of the money he's put in and no one in their right mind is going to pay c£30m for the name of a football club, players contracts which are running down, a load of debts, CCJs and stupidly high rental agreements on a dilapidated stadium - which needs huge amounts of work and money invested into it -, dwindling crowds, ST sales (c5000) from which the revenue for the next 2-5yrs has by and large already been realised and spent, and no training facilities...........
Despite all the banter that I've had with them I genuinely feel for the Palace fans as, no one would want to see a club in this sort of mess. I fear for Palace as unlike other clubs who have gone into admin, they have very little in the way of assets. The future looks very bleak indeed and I wish them all the best. Perhaps a firesale is only way forward, but even this will just be a temporary solution.
Yet again, but for utterly different reasons, Im very grateful my old man decided to take me to The Valley in '80 and not Sellhurst. Good luck to them.
Someone get to Dan quickly he is having a breakdown or he has been kidnapped
Come on guys. It is nearly Xmas and the time for being charitable / christian and all that.
Besides. If they go tits up who will I'll have to start having running battles with 'Wall fans and thats no fun cos they cant get their knuckles off the ground to type properly.
I agree with Charlton Dan
I don’t want Palace to disappear, we need them for that feeling of schadenfreude which we don’t get from Millwall,(they dont have any feeelings except aggression and scraped knuckles from dragging on the floor). If Palace did not exist, we would have to invent them (although preferably without Simon Jordan).
[quote][cite]Posted By: Plaaayer[/cite]Can't believe someones even having a pop at Budgie for being civil.
You want me to get you a season ticket Budgie? We're doing a good deal on 1/2 season tickets!?[/quote]
Not as good as Palace's deals.
If you don't have a season ticket you can buy NEXT years and get a £100 voucher for the shop.
Or you can buy next years for some silly amount now. Gets the money in now so they can pay Addickted's mate but come next season all the money has already been spent.
It's pretty clear that Simon Jordan has overstretched himself financially and about to take a massive hit. I suspect the real problem is that other areas of his business empire are struggling too - the Spanish property market where he's heavily invested is still in trouble and my guess is that he's spending most of his time shuffling money around and trying to keep creditors at bay while hoping that some miracle will rescue him.
If Palace went bust it would improve our attendances and support base so bring it on. Same with Millwall (although wouldn't want many of their fans I guess).
[cite]Posted By: InspectorSands[/cite]Will AFC Palace honour those season tickets when they're groundsharing with Croydon FC in 2012?
Crystal Palace's constant "we saved you in the 1980s" fiction means it'll be a cold day in hell before I feel sorry for them.
Nail on the head there.
I dont like to here of people losing thier jobs but I have a very good memory and do remember how they "helped" us out.
So I would like to think someone else (not us) could help them in a simular manner.
[cite]Posted By: LenGlover[/cite]Two wrongs don't make a right.
I have no time for Palace but, misguided though they maybe, their fans don't deserve to lose their club because of Jordan's shenanigans.
I remember 1984 and thinking Charlton had gone. I wouldn't wish that on my worst enemy.
We should be bigger than the patronising Nigel tw*** who rubbed our noses in it.
I agree.
As the song says:
If I could be you and you could be me for just one hour
If we could find a way to get inside each other's mind
If you could see you through my eyes instead of your ego
I believe you'd be surprised to see that you'd been blind
Walk a mile in my shoes, walk a mile in my shoes
Yeah, before you abuse, criticize and accuse
Walk a mile in my shoes
[cite]Posted By: better red than dead[/cite]I agree with Charlton Dan
I don’t want Palace to disappear, we need them for that feeling of schadenfreude which we don’t get from Millwall
I love the word schadenfreude me. Rolls much more easily off the tongue than morose delectation too. Not a word I think you'd find on too many football message boards so well done!
Comments
Thats the story ive heard with people who have done work for him, only for him to not pay up.
........................................................
A curious question, but one that is worth answering. This week has seen reports that the financial damp rot that seems to have infected football is now spreading up the chain. Non-league clubs are the most at prone to financial ruin for the simple reason that not many people are that interested in what happens to them on a day-to-day basis, but higher up the ladder there are signs that clubs are starting to feel the pinch this may be reaching as high now as the Championship, with stories now being reported about the possibility of difficult times at two clubs that should surely be able to hold their own financially: Crystal Palace and Watford.
At Crystal Palace, the players haven’t been paid and this story is being glossed over as some sort of minor issue of cashflow. Palace, however, have had brushes with financial difficulty before. In 2000, Simon Jordan arrived at the club with last minute buyout to rescue the club from having to enter into administration. Since then they have, some would argue, under-performed, only having managed one season in the Premier League in the last decade, and there have been difficulties off the pitch too. It seemed possible until last summer that they could be forced to leave Selhurst Park before a new lease was finally signed and the club have a good start to the season in the Championship, but paying the wages would seem to signify a major problem at the club.
No matter what other bills aren’t paid and no matter what lengths have to be gone to in order for this to happen, the players will always be paid. There is a good reason for this. Unless they sign a deferral agreement, players theoretically become free agents if they are paid just fourteen days late, although more commonly two months would be the accepted time span for players to up sticks and go elsewhere. The fourteen day period would explain why Neil Warnock was so keen to point out that the players will be paid no more than ten days late. Palace have had a decent enough season so far. They are, at the time of writing, in eleventh place in the table but are just two points off a play-off spot. It would be nothing less than a calamity for the club if the squad started to break up for financial reasons.
With the January transfer window just a few weeks away, the temptation might be to offload some players, but this would be not much more than sticking their finger in the dam of their debts and hoping for the best. With other clubs fully aware of their financial predicament, the value of their players would be likely to drop and they would end up disrupting a squad that has half a chance of making the Premier League. Simon Jordan has had Crystal Palace up for sale for some time, but so far there have been no takers. David Sullivan’s name has been linked with them, but is the asking price too high, or is this simply the wrong time to be trying to sell a loss-making football club? Ultimately, it feels as if Crystal Palace have become over-reliant on Simon Jordan, and if his money has run out with no buyer in sight, then they may end up with long term problems as well as the short term ones that they are currently experiencing.
The team that they beat 3-0 last weekend, Watford, find themselves in a similarly intractible situation. Manager Malky McKay was widely expected to face an uphill struggle to keep his side in the Championship this season, but they currently sit in ninth place in the table. Off the pitch, however, the club seems to be sliding into trouble with the amounts of money being mentioned being utterly unsustainable for a club of their current status. They were loaned £1m by chairman Jimmy Russo last Friday, but the club has already announced that unless they get another large injection of cash by the 22nd of December, their holding company, Watford Leisure, may have to consider suspending trading on the Alternative Investment Market unless they can find a further £5.5m.
The club has made noises about seeking “outside investment”, but who is going to invest millions of pounds in Watford Football Club, with the likelihood of making anything like a return being next to zero? It is the figure of £5.5m that is the most troubling aspect of the Watford situation. Is this brinkmanship on the part Russo (and his brother), or is the situation there as desperate as it seems on the surface. Ultimately, suspension of trading in Watford Leisure would be highy likely to force the club into administration, and this would obviously cause the club major difficulties (they own Vicarage Road, for example) both on and off the pitch.
Set against the difficulties at Crystal Palace and Watford, the £70m spent on players agents by Premier League clubs over the last twelve months or so is thrown into pretty sharp focus. This is such an astronomical amount of money to spend on, well, whatever it is that agents do that could conceivably be judged as having any benefit to anyone other than the players concerned or the agents themselves, that it requires a degree of scale to put it into perspective. Kings Lynn Football Club’s HMRC debt (although it is worth pointing out that they have more debts than just this) is £65,000, and it might send them to the wall. At a higher end of the spending scale, Dartford Football Club’s state of the art Princes Park stadium cost £7m to build, and includes an all-weather training pitch, bars and a banquet suite. That’s one-tenth of what Premier League football clubs spent on agents… last year.
It shouldn’t even need to be said that football clubs of the size of Crystal Palace or Watford don’t have to be financially unviable. What we learn from the current predicaments of both clubs is that there is no one size fits all cause for the difficulties of clubs of this size, and there isn’t really a one-size fits all solution for it, either. Having said that, however, living within ones means is a good start – it just so happens that, in the case of these two particular clubs, the specifics relating to their situations a mixture of years of slight neglect and something approaching mismanagement by osmosis. And meanwhile, the Premier League carries on frittering money away on agents. Sometimes it feels as if we living in the last days of Rome.
I cant see SJs ego or lifestyle letting him walk away without getting back some of the money he's put in and no one in their right mind is going to pay c£30m for the name of a football club, players contracts which are running down, a load of debts, CCJs and stupidly high rental agreements on a dilapidated stadium - which needs huge amounts of work and money invested into it -, dwindling crowds, ST sales (c5000) from which the revenue for the next 2-5yrs has by and large already been realised and spent, and no training facilities...........
Despite all the banter that I've had with them I genuinely feel for the Palace fans as, no one would want to see a club in this sort of mess. I fear for Palace as unlike other clubs who have gone into admin, they have very little in the way of assets. The future looks very bleak indeed and I wish them all the best. Perhaps a firesale is only way forward, but even this will just be a temporary solution.
Yet again, but for utterly different reasons, Im very grateful my old man decided to take me to The Valley in '80 and not Sellhurst. Good luck to them.
Someone get to Dan quickly he is having a breakdown or he has been kidnapped
FRONT PAGE SCOOP
charlton dan goes soft on stripey twats
They are so upset about Addickted's post re: the member of Palace staff.
Any chance of a link Ben....Ta?
pages 33 and 34 although a lot of it is funny and informative.
Come on guys. It is nearly Xmas and the time for being charitable / christian and all that.
Besides. If they go tits up who will I'll have to start having running battles with 'Wall fans and thats no fun cos they cant get their knuckles off the ground to type properly.
You want me to get you a season ticket Budgie? We're doing a good deal on 1/2 season tickets!?
I don’t want Palace to disappear, we need them for that feeling of schadenfreude which we don’t get from Millwall,(they dont have any feeelings except aggression and scraped knuckles from dragging on the floor). If Palace did not exist, we would have to invent them (although preferably without Simon Jordan).
Anyway, my friend got paid yesterday!
You want me to get you a season ticket Budgie? We're doing a good deal on 1/2 season tickets!?[/quote]
Not as good as Palace's deals.
If you don't have a season ticket you can buy NEXT years and get a £100 voucher for the shop.
Or you can buy next years for some silly amount now. Gets the money in now so they can pay Addickted's mate but come next season all the money has already been spent.
Crystal Palace's constant "we saved you in the 1980s" fiction means it'll be a cold day in hell before I feel sorry for them.
Nail on the head there.
I dont like to here of people losing thier jobs but I have a very good memory and do remember how they "helped" us out.
So I would like to think someone else (not us) could help them in a simular manner.
I have no time for Palace but, misguided though they maybe, their fans don't deserve to lose their club because of Jordan's shenanigans.
I remember 1984 and thinking Charlton had gone. I wouldn't wish that on my worst enemy.
We should be bigger than the patronising Nigel tw*** who rubbed our noses in it.
I agree.
As the song says:
If I could be you and you could be me for just one hour
If we could find a way to get inside each other's mind
If you could see you through my eyes instead of your ego
I believe you'd be surprised to see that you'd been blind
Walk a mile in my shoes, walk a mile in my shoes
Yeah, before you abuse, criticize and accuse
Walk a mile in my shoes
I love the word schadenfreude me. Rolls much more easily off the tongue than morose delectation too. Not a word I think you'd find on too many football message boards so well done!
Ps did you have to look up the spelling?
Stop rubbing it in Henry