[cite]Posted By: bingaddick[/cite]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.
Bang on, Oggy. It should mean relegation to League Two, that would stop some CCC clubs getting into such a mess with their finances.
[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.
Did we play long ball at Selhurst and Upton Park?
Do Inter and Milan play long ball.
Yes, the pitch would have to have extra care and attention but Palace's rent could pay for some undersoil heating ; - )
[cite]Posted By: Henry Irving[/cite]
Did we play long ball at Selhurst and Upton Park?
Do Inter and Milan play long ball.
Yes, the pitch would have to have extra care and attention but Palace's rent could pay for some undersoil heating ; - )
Great idea and if they don't have enough funds we can take the pick of their best players ................... that Ambrose fella seems to be knocking them in on a regular basis )
[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.
Did we play long ball at Selhurst and Upton Park?
Do Inter and Milan play long ball.
Yes, the pitch would have to have extra care and attention but Palace's rent could pay for some undersoil heating ; - )
Mmmmmmmmm all fair points Henry but when we were at Selhurst and Upton park we had managers that liked to get the ball down and play, it seems to me that Parky doesn't need much of an excuse to resort to lumping long balls up to Deon to chase.
As for Inter & AC Milan they have the players and the skill to play over broken glass so its a tough comparison.
Apparently the amount they owe to the taxmen is some way north of the £1.2M quoted earlier and that the full amount will be demanded in the courts on January 27th.
Her Majestys Revenue & Customs will be hitting CPFC with a second winding up order for defaulting on a previous agreement to settle. This is in addition to the £1.2M winding up order to be requested on the 27th as above. Looks like they'll have to take administration before any new "investor" will go near them. Sad that any club in the lower leagues has to take Administration and the penalties that go with it, before it becomes anywhere near attractive enough for buyers to get interested. Makes our own struggle to attract those all too crutial new investors seem so far from a reality. There was certainly some truth in Mick Collins article in highlighting that a club in aministration (certainly outside the Prem / Championship) is far more attractive to new investors that those clubs saddled with a heap of debt.
What a smug so and so Mr Noades is. 100% spot on about Jordan but smug as hell
If you've got a heart Simon Jordan, quit Crystal Palace, pleads Ron Noades
08.01.10
Ron Noades has accused Crystal Palace chairman Simon Jordan of taking the club backwards and has urged him to stand down.
Noades, who was chairman between 1981 and 1998, is stunned by the demise of the Championship side, who are in serious danger of going into administration amid reports of debts of around £30million.
Jordan agreed a deal with the club's major creditors Agilo this week over £4.5m owed to them, but Palace still face an uncertain future as they have a court hearing on 27 January over an unpaid tax bill of £1.2m.
The players and coaching staff have yet to receive their wages for the month of December, although Jordan told manager Neil Warnock last night that everyone should get their money by next Wednesday at the latest.
It is the fourth time the squad have not been paid on time this season and the club have been hit with two transfer embargoes this term.
Although Noades oversaw the most successful era in the club's history - Palace were runners-up in the 1990 FA Cup and finished third in the top flight a year later- he was an unpopular figure by the end of his time there, with the majority of fans demanding he sell the club to Mark Goldberg.
Yet the 71-year-old now believes it is Jordan who should go and said: "I think if he had Palace at heart he would just step aside. There are horrendous problems. If I'd have done the things he has I'd have been absolutely crucified.
"I get miffed about the way he's run the club into the ground. No one can bail him out in my view. His only chance is administration and to get rid of the creditors list.
"Lots of people have contacted me who are interested in buying them, but I don't know whether they meet Jordan and he asks for X million and they run away. I'm not interested either and he doesn't seem to be someone you can negotiate with. The last thing I saw he was asking for £7.5m from an investor. But it is dreamworld.
"Palace are back to where they were when I took over. They weren't in administration but I had to work through all the debts. I think they will go into administration and it will have to start all over again."
Jordan, who refused to talk to Standard Sport yesterday, bought the club for £10m in 2000 after they had gone into administration following Goldberg's ill-fated reign. He says he has put a further £25m of his own money to help run Palace, but despite the funds generated from getting promoted to the Premier League in 2004, the subsequent parachute payments following their relegation 12 months later and the finance generated from the sale of players like Andy Johnson, they now appear to have gone full circle and are in a perilous position once again.
In 2006 Jordan appeared to safeguard the club's long-term future when he claimed he had bought the freehold of Selhurst Park from Noades for £12m.
However, the transaction had actually been completed through financing organised by former Tottenham director Paul Kemsley and his company Rock Joint Ventures Ltd.
The move backfired as Jordan was unable to buy the ground from Kemsley and the club ended up with a 25-year lease charging £1.2m a year in rent. To make things worse, Selhurst Park is now vulnerable for Rock have gone into administration and the site is in danger of being sold. Noades added: "Even if Palace go into administration, unless Jordan can sort the freehold out, the club won't have a future anyway.
"Jordan has had plenty of opportunity to ask me for help. He could have always rung me up. But he's been too pig-headed to do that or big-headed."
Incredibly, performances on the pitch haven't suffered much and Palace take on Bristol City at home tomorrow sitting just three points off a play-off place.
Neil Warnock is hoping Jordan is bought out too or they will be forced to sell their best players like Victor Moses.
The manager said: "If we don't find a buyer soon, then we will have to sell two or three to balance the books."
thing about Ron Noades - whatever you think about how he took our money and tried to merge the clubs(?) he certainly knows how to run a club - and not let ambition / managers / players / agents bankrupt it... just the kind of guy to stick the boot into Jordan - I just love those quotes and the timing is great ;)
The known enemies are coming out of the woodwork to put the boot in it seems. Palace players prices have just dropped on this article I suspect. Who next I wonder.
[cite]Posted By: SE10Addick[/cite]what's the deal with players not getting paid and being able to walk out for free on their contracts?
If they serve notice then they are entitled to a free transfer 14 days after not being paid.
Seems Jose Fonte was about to be sold to Southampton for £1.2m but that deal appears to have stalled.
I imagine CPFC are getting some very low offers as other clubs know they are desperate but worse outcome for them is that, like Fonte, the players can't/won't be sold and they still have the tax man's winding up petition to deal with.
[cite]Posted By: Henry Irving[/cite]So where are all our Palace supporting members?
Budgie, SOS, Matt Ov, Paul, Let's be having ya : - )
Let's be having ya? very Delia like.
We're still here, just waiting for things to develop, so we know exactly whats happening.
It's always nice for Ron to come back and remind us how great he was for Ron Noades, which is one of the things that mystifies me about Charlton's dislike for all things Palace, as i have mentioned in the past, one of the things Palace and Charlton have in common, is we have both been screwed by the man.
As far as Palace goes, it's very painful watching and not really knowing whats happening, I know we see reports, but realistically the only person that knows the full extent of the problem is Simon Jordan. Whilst i will admit to having been pro Jordan, I am just hoping that the sooner SJ leaves the club, either by selling or administration, the better it will be for the club.
Budgie........As far as I and I assume most Charlton fans are concerned Palace and RN were the same at the time Charlton were screwed, ergo We dislike Palace.
Regsarding players beeing able to go on a free that is true.. I have heard this from sorce. As Henry says the players have something written into their contractos that if they have failed to get paid after a certain period o time etc they can walk.. as their contract then gets nullified.. yes we all hae Ron Noades and SJ but I wouldn't wish that happen to any club.. not even palace or millwall
[cite]Posted By: Rudders22[/cite]Regsarding players beeing able to go on a free that is true.. I have heard this from sorce. As Henry says the players have something written into their contractos that if they have failed to get paid after a certain period o time etc they can walk.. as their contract then gets nullified.. yes we all hae Ron Noades and SJ but I wouldn't wish that happen to any club.. not even palace or millwall
[cite]Posted By: Rudders22[/cite]Regsarding players beeing able to go on a free that is true.. I have heard this from sorce. As Henry says the players have something written into their contractos that if they have failed to get paid after a certain period o time etc they can walk.. as their contract then gets nullified.. yes we all hae Ron Noades and SJ but I wouldn't wish that happen to any club.. not even palace or millwall
What exactly to happen to Palace. Out of business no....but administation, relegation, decimation of squad .......I could chuckle at that tbh.
Comments
Bang on, Oggy. It should mean relegation to League Two, that would stop some CCC clubs getting into such a mess with their finances.
Did we play long ball at Selhurst and Upton Park?
Do Inter and Milan play long ball.
Yes, the pitch would have to have extra care and attention but Palace's rent could pay for some undersoil heating ; - )
Great idea and if they don't have enough funds we can take the pick of their best players ................... that Ambrose fella seems to be knocking them in on a regular basis
They'll have to pay in a Rymans car park then.
TP isn't involved in Millwall anymore as far as I'm aware.
Mmmmmmmmm all fair points Henry but when we were at Selhurst and Upton park we had managers that liked to get the ball down and play, it seems to me that Parky doesn't need much of an excuse to resort to lumping long balls up to Deon to chase.
As for Inter & AC Milan they have the players and the skill to play over broken glass so its a tough comparison.
Lol, you know what I mean, I am not going to bite on that one, haven't you got work to do ;-)
Is that public or from that someone you know in the game?
If you've got a heart Simon Jordan, quit Crystal Palace, pleads Ron Noades
08.01.10
Ron Noades has accused Crystal Palace chairman Simon Jordan of taking the club backwards and has urged him to stand down.
Noades, who was chairman between 1981 and 1998, is stunned by the demise of the Championship side, who are in serious danger of going into administration amid reports of debts of around £30million.
Jordan agreed a deal with the club's major creditors Agilo this week over £4.5m owed to them, but Palace still face an uncertain future as they have a court hearing on 27 January over an unpaid tax bill of £1.2m.
The players and coaching staff have yet to receive their wages for the month of December, although Jordan told manager Neil Warnock last night that everyone should get their money by next Wednesday at the latest.
It is the fourth time the squad have not been paid on time this season and the club have been hit with two transfer embargoes this term.
Although Noades oversaw the most successful era in the club's history - Palace were runners-up in the 1990 FA Cup and finished third in the top flight a year later- he was an unpopular figure by the end of his time there, with the majority of fans demanding he sell the club to Mark Goldberg.
Yet the 71-year-old now believes it is Jordan who should go and said: "I think if he had Palace at heart he would just step aside. There are horrendous problems. If I'd have done the things he has I'd have been absolutely crucified.
"I get miffed about the way he's run the club into the ground. No one can bail him out in my view. His only chance is administration and to get rid of the creditors list.
"Lots of people have contacted me who are interested in buying them, but I don't know whether they meet Jordan and he asks for X million and they run away. I'm not interested either and he doesn't seem to be someone you can negotiate with. The last thing I saw he was asking for £7.5m from an investor. But it is dreamworld.
"Palace are back to where they were when I took over. They weren't in administration but I had to work through all the debts. I think they will go into administration and it will have to start all over again."
Jordan, who refused to talk to Standard Sport yesterday, bought the club for £10m in 2000 after they had gone into administration following Goldberg's ill-fated reign. He says he has put a further £25m of his own money to help run Palace, but despite the funds generated from getting promoted to the Premier League in 2004, the subsequent parachute payments following their relegation 12 months later and the finance generated from the sale of players like Andy Johnson, they now appear to have gone full circle and are in a perilous position once again.
In 2006 Jordan appeared to safeguard the club's long-term future when he claimed he had bought the freehold of Selhurst Park from Noades for £12m.
However, the transaction had actually been completed through financing organised by former Tottenham director Paul Kemsley and his company Rock Joint Ventures Ltd.
The move backfired as Jordan was unable to buy the ground from Kemsley and the club ended up with a 25-year lease charging £1.2m a year in rent. To make things worse, Selhurst Park is now vulnerable for Rock have gone into administration and the site is in danger of being sold. Noades added: "Even if Palace go into administration, unless Jordan can sort the freehold out, the club won't have a future anyway.
"Jordan has had plenty of opportunity to ask me for help. He could have always rung me up. But he's been too pig-headed to do that or big-headed."
Incredibly, performances on the pitch haven't suffered much and Palace take on Bristol City at home tomorrow sitting just three points off a play-off place.
Neil Warnock is hoping Jordan is bought out too or they will be forced to sell their best players like Victor Moses.
The manager said: "If we don't find a buyer soon, then we will have to sell two or three to balance the books."
The known enemies are coming out of the woodwork to put the boot in it seems. Palace players prices have just dropped on this article I suspect. Who next I wonder.
If they serve notice then they are entitled to a free transfer 14 days after not being paid.
Seems Jose Fonte was about to be sold to Southampton for £1.2m but that deal appears to have stalled.
I imagine CPFC are getting some very low offers as other clubs know they are desperate but worse outcome for them is that, like Fonte, the players can't/won't be sold and they still have the tax man's winding up petition to deal with.
Must be the Palace connection.
Budgie, SOS, Matt Ov, Paul, Let's be having ya : - )
Let's be having ya? very Delia like.
We're still here, just waiting for things to develop, so we know exactly whats happening.
It's always nice for Ron to come back and remind us how great he was for Ron Noades, which is one of the things that mystifies me about Charlton's dislike for all things Palace, as i have mentioned in the past, one of the things Palace and Charlton have in common, is we have both been screwed by the man.
As far as Palace goes, it's very painful watching and not really knowing whats happening, I know we see reports, but realistically the only person that knows the full extent of the problem is Simon Jordan. Whilst i will admit to having been pro Jordan, I am just hoping that the sooner SJ leaves the club, either by selling or administration, the better it will be for the club.
Oh....wouldn't you?!!?
What exactly to happen to Palace. Out of business no....but administation, relegation, decimation of squad .......I could chuckle at that tbh.