Jordan enterts into a CVA after Palace are placed into administration, they take a 10 point hit and Gold picks them up for next to nowt without picking up any outstanding debt.
[cite]Posted By: Covered End[/cite]Why would we want them groundsharing if they haven't paid the rent for 12 months?
Month's rent in advance plus one month's deposit (to allow for their fans or board members causing damage to the place). Failure to lodge sufficient funds in the relevant bank account by 00:01 on the first of each month (or 5pm on the previous working day if the first falls on a weekend or a bank holiday) would be deemed breach of contract. Such a breach would mean they would forfeit the right to use the facilities until 4 working days after the funds were eventually received. The risk of points deductions for failure to fulfil fixtures due to non-payment of rent might help focus Tangoman's mind a little.
One thing about all this. A lot has been made about Gold/Sullivan going for the Spammers, maybe us as we both have decent facilities in place. So yes they may pick up the club for peanuts, but they won't own the stadium (which will cost a few Million if they want to buy it) and it needs a fortune spent on it to bring it up to "21st Century" conditions.
but then BDL how much will it cost to negotiate the lease AND if they get thep up (2 points of play offs) they get about £30 mill in top flight is that right??). Shame we are not in Championship !!
[cite]Posted By: BDL[/cite]One thing about all this. A lot has been made about Gold/Sullivan going for the Spammers, maybe us as we both have decent facilities in place. So yes they may pick up the club for peanuts, but they won't own the stadium (which will cost a few Million if they want to buy it) and it needs a fortune spent on it to bring it up to "21st Century" conditions.
Don't forget the new lease Jordan negotiated when he 'bought' the Club is a full repairing one.
Both internal and external decorations due in the summer and the Holmesdale end is slowly sinking resembling a Somme trench under the lower tier. The away ends at Brighton and Gillingham are more stable.
[cite]Posted By: BDL[/cite]One thing about all this. A lot has been made about Gold/Sullivan going for the Spammers, maybe us as we both have decent facilities in place. So yes they may pick up the club for peanuts, but they won't own the stadium (which will cost a few Million if they want to buy it) and it needs a fortune spent on it to bring it up to "21st Century" conditions.
Murray said at the AGM that is cost £37m to build the Valley but estimated that at today's prices it would cost twice that.
So if it would cost £72m to build a Stadium like ours how much to bring Selhurst in the 20th century let alone the 21st?
I was speaking to a palace fan at work yesterday, who like one or two on here like to think they have the 'ear' of the club...... the fact was he had little idea how they were going to get out of this mess!
As others have posted Jordan seems to have ' underwritten' some of the debt and therefore does not want to seek administration on a personall level. My contact feared a sell of of players, and like myself a 'half empty person' in outlook/mentality was frankly 'scarred about the future'. Going for a drink with him next week, feel sorry as you can for a fellow football supporter, he did not seem to positive about things.
Personally speaking I am only really concerned about Charlton, the plight of clubs as regretful as they may be for the good of the league etc is beyond most fans capacity to do anything about, even if you feel you are able to!
Although I am not happy about our position, and where we find ourselves , thank god we are not in there position..........
[cite]Posted By: Steve Dowman[/cite]That means at least one of their players is on their way elsewhere, it is the only chance they have of raising any capital.
Unless you've been hiding in the Afghan mountains for the past month or so, i'd have thought it fairly obvious that Victor Moses is on his way. Warnock's been touting him here there and everywhere after every Palace game.
Whilst I would like a good laugh at Palace and a bit of extra money coming in by way of rent I would not want to see anybody ground share with us due to the fact a game every week on the valley pitch would cut it up no end with little time for repair.
We would have little choice but to play long ball so as to avoid the rutted midfield which I do not want to see.
Warnock said today on Talksh*ite that there are a couple of interested parties but nothing concrete yet in terms of investors/new owners. If they don't come in they will need to sell a couple of players. There has been one unacceptable offer for Moses.
The deal with their main creditor is just an agreement to buy time. Jordan will no doubt have convinced them that he has interested purchasers in negotiation and/or buyers lined up for players and it would not be in the creditors interest to pull the plug. It still leaves them in a perilous state with no significant assets other than the players.
The general problem here in my view is the penalties for administration are not great enough and this leads to poor financial management. What is most likely to happen is that the club goes into administration, takes its ten point hit, and comes out with a CVA. In Palaces case they may avoid relegation this season and end up debt free and the chance for a third "Goldberg" figure to come in and bankrupt the club again. In my view administration should mean relegation at least one Division.
[cite]Posted By: eaststandmike[/cite]Whilst I would like a good laugh at Palace and a bit of extra money coming in by way of rent I would not want to see anybody ground share with us due to the fact a game every week on the valley pitch would cut it up no end with little time for repair.
We would have little choice but to play long ball so as to avoid the rutted midfield which I do not want to see.
Do we know that for sure....it wasn't so long ago that we played reserve games at The Valley as well as the odd Juniors game thrown in.
More work for Paddy and the groundstaff of course but quite do-able.
Comments
Just think about it for a bit.
Although we could take all their better players instead.
I've thought and I don't get it.
Please give us dunces a clue!
Ground sharing...
If thats what Addickted was hinting at...
Don't forget the new lease Jordan negotiated when he 'bought' the Club is a full repairing one.
Both internal and external decorations due in the summer and the Holmesdale end is slowly sinking resembling a Somme trench under the lower tier. The away ends at Brighton and Gillingham are more stable.
Murray said at the AGM that is cost £37m to build the Valley but estimated that at today's prices it would cost twice that.
So if it would cost £72m to build a Stadium like ours how much to bring Selhurst in the 20th century let alone the 21st?
And that's after buying it.
As others have posted Jordan seems to have ' underwritten' some of the debt and therefore does not want to seek administration on a personall level. My contact feared a sell of of players, and like myself a 'half empty person' in outlook/mentality was frankly
'scarred about the future'. Going for a drink with him next week, feel sorry as you can for a fellow football supporter, he did not seem to positive about things.
Personally speaking I am only really concerned about Charlton, the plight of clubs as regretful as they may be for the good of the league etc is beyond most fans capacity to do anything about, even if you feel you are able to!
Although I am not happy about our position, and where we find ourselves , thank god we are not in there position..........
Unless you've been hiding in the Afghan mountains for the past month or so, i'd have thought it fairly obvious that Victor Moses is on his way. Warnock's been touting him here there and everywhere after every Palace game.
We would have little choice but to play long ball so as to avoid the rutted midfield which I do not want to see.
After 8 years at Sheffield Utd, i can't see that going down too well with the Wednesday fans.
The deal with their main creditor is just an agreement to buy time. Jordan will no doubt have convinced them that he has interested purchasers in negotiation and/or buyers lined up for players and it would not be in the creditors interest to pull the plug. It still leaves them in a perilous state with no significant assets other than the players.
The general problem here in my view is the penalties for administration are not great enough and this leads to poor financial management. What is most likely to happen is that the club goes into administration, takes its ten point hit, and comes out with a CVA. In Palaces case they may avoid relegation this season and end up debt free and the chance for a third "Goldberg" figure to come in and bankrupt the club again. In my view administration should mean relegation at least one Division.
Do we know that for sure....it wasn't so long ago that we played reserve games at The Valley as well as the odd Juniors game thrown in.
More work for Paddy and the groundstaff of course but quite do-able.