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Palace in Financial Trouble

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  • "I'm very happy with this contract".

    Says it all really!
  • "I want to play in the Premier League and I think I can do that quickest by moving here." LOL
  • The Independent :-

    Manchester City are seeking to make good their pledge to buy in elite youth players by moving for Crystal Palace’s 19-year-old striking prodigy Victor Moses.

    Palace manager Neil Warnock indicated yesterday that he believes Moses will be heading out of Selhurst Park unless the current financial difficulties are resolved and City’s football administrator Brian Marwood will press ahead with the club’s move for a player Palace are seeking £5m for.

    Palace are understood to have received a £1.5m bid from West Bromwich Albion and there are doubts as to whether other prospective suitors will match the valuation. But City, who feel that their current academy crop does not equip them to make the leap to Champions League football, have the spending power that others seeking Moses’ signature lack.
  • [cite]Posted By: seriously_red[/cite]been thinking about this and I'm sure they'll be back in some form or another just as afc Wimbledon - so I say kick bancrupt clubs into league 2 or out altogether - if the fans want their club then they can do what we had to ... And organise, fight etc this goes for Portsmouth Southampton etc.

    Wow, Charlton must be in a wonderful position, if this is your honest opinion.

    I hope you get your promotion this season, otherwise I feel you may change your tune ever so slightly.
  • Crystal Palace have put a proposal into The Football League to start a 5 a side league as they fear that by the end of January they will only have 7 players left :-)
  • [cite]Posted By: Covered End[/cite]The Independent :-

    Manchester City are seeking to make good their pledge to buy in elite youth players by moving for Crystal Palace’s 19-year-old striking prodigy Victor Moses.

    Palace manager Neil Warnock indicated yesterday that he believes Moses will be heading out of Selhurst Park unless the current financial difficulties are resolved and City’s football administrator Brian Marwood will press ahead with the club’s move for a player Palace are seeking £5m for.

    Palace are understood to have received a £1.5m bid from West Bromwich Albion and there are doubts as to whether other prospective suitors will match the valuation. But City, who feel that their current academy crop does not equip them to make the leap to Champions League football, have the spending power that others seeking Moses’ signature lack.

    Don't think Moses is worth anywhere near £5 mill but the hype surrounding him will probably net Palace closer to half that amount.
  • edited January 2010
    [cite]Posted By: bingaddick[/cite]...People keep talking in neutral terms about administration and debt dumping as if is has zero impact. That is just not right. I don't weep for HMRC or some Cayman Island hedge fund investors but I do fear for the poor local businesses who have traded with Palace/Jordan who will be right royally screwed if they go into admin. Yes the club will probably survive but some of their trading partners will not...

    That's a very good point Bing. As for HMRC, we should weep - that's our money. Contrary to what some people may think, the taxman doesn't collect money for his own good - it is public money to be used as public services (well, that and to bail out failed bankers). So if Jordan defaults on paying, everyone will suffer.
  • I would be quite happy if they went bust. I guess who ever coined the phase, 'I wouldn't wish that on any club' never knew Crystal Palace.
  • as budgie says be careful what you wish for.

    We are OK for now but only for now.
  • [cite]Posted By: Henry Irving[/cite]as budgie says be careful what you wish for.

    We are OK for now but only for now.
    You're not the first person in the know to say that to me. :-(
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  • not been in thé know for à long while but who was thé other person?
  • George Michael
  • edited January 2010
    [cite]Posted By: Henry Irving[/cite]not been in thé know for à long while but who was thé other person?

    Are you using a french keyboard Henry or is it just you know that we have an acute financial problem which may become grave if we don't get promotion this season?.....;-)
  • the clues are there for those who seek them ; - )
  • Blimey, Henry's turned into Lloyd Grossman!
  • [cite]Posted By: Off_it[/cite]Blimey, Henry's turned into Lloyd Grossman!

    Source?
  • [cite]Posted By: No.1 in South London[/cite]a) Own ground and people in charge who really do care who the batton gets handed onto. A division below but a realistic opportunity to go up this season.
    b) Precarious position if administration kicks in with a minimum 10 point deduction, then a relegation struggle, plus a cretin who is trying his best to sell a few assets to get something back before it all goes tits up and good luck to whoever takes it on !

    It's nice to own the ground of course but it's not like the owner can sell it to raise money and I guess what matters is what income, expenditure and debts each club has, together with saleable assets. Palace have more valuable players and I think Jordan calculates that they can sell some of those and still have enough in them to stay in the championship.

    I think Jordan does care about Palace. He almost certainly cares more about his bank balance, but the same thing applies to some of our Board and I would speculate that this, more than anything else, is why we have not found a buyer, and why we haven't gone into administration. Jordan is a one-man show and I think that is an advantage to Palace in that decisions can be made more easily about whether and when to sell and who to. Anyway i don't think having owners that 'care' (in the sense of having a sentimental attachment to the club) is necessarily an advantage. It was when we we were a basket case in the 80's/early 90's and charity was the only remedy. I think it was a disadvantage in the early noughties.

    Anyway, time will tell. Really, this whole debate sums up the problem with football today. A 560 comment thread about business and finance. Another zillion comments on 'takeover'. Promotion is seen as vital for economic well being rather than the glory, being in the top four of the Premiership is more important than winning the thing.

    For now, Palace are in the better position because they are in a better league, playing better football with better players.
  • edited January 2010
    [cite]Posted By: 24 Red[/cite]For now, Palace are in the better position because they are in a better league, playing better football with better players.

    Your original question was who was in a worse shape, not position (that is obvious). Their fans have had a poll with 75% voting in favour of a Ron Noades led consortium to take over their club, that may highlight was sort of shape they are in ! can't imagine a more desperate situation that wanting that rouge in charge of your football club ................................ well maybe ignoring the imbecile in charge at present.
  • edited January 2010
    As you highlighted that is a extremely temporary situation though.

    It only takes a 10 point reduction, the sale of a few key players, such as Speroni, Moses, Derry and Fonte for example, and they could well be swapping places with us. That coupled with their current asset-less situation would, IMO, be far worse for them than it has been for us.

    Oh and we don't have SJ running the show. What an moron imbecile he truly is!

    Perhaps we should hire a plan with a banner and fly it over his house........

    "Sha la la la la la. Who's the f***ing moron now!" Live, laugh, love and be happy - CAFC
  • How come Moses is worth £5m when Luke Young was only worth £2.5m?
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  • Heard that Man city are after Moses, they will take him and loan him to WBA.
    So he can score against palace.
  • [cite]Posted By: LenGlover[/cite]How come Moses is worth £5m when Luke Young was only worth £2.5m?
    Mosses is younger and plays in a position which requires more flair.
  • [cite]Posted By: LenGlover[/cite]How come Moses is worth £5m when Luke Young was only worth £2.5m?

    Because Moses will lead you into the promised land.

    He isn't worth £5m, but given Palace's desperate financial position they are hyping him up in the hope of getting a better offer.
  • All this talk of Moses for 5m is surely way off. Palace are desperate for money so i'd be surprised if he goes for anything over 3m.
  • Rumour is that Warnock will go to Doncaster if O'Driscoll leaves for Burnley. At least they'll get some compensation for him, but he's doing an incredible job at Palace at the moment and if they sell all their half decent players and lose Warnock then I think it'll be the start of their demise!
  • [cite]Posted By: The Red Robin[/cite]Rumour is that Warnock will go to Doncaster if O'Driscoll leaves for Burnley. At least they'll get some compensation for him, but he's doing an incredible job at Palace at the moment and if they sell all their half decent players and lose Warnock then I think it'll be the start of their demise!

    To be honest I think the demise has started, I had a look at a palace forum yesterday and the Nigels are restless, not at all happy about Fonte going to Southampton plus Danns and Moses leaving looks nailed on.
  • edited January 2010
    [cite]Posted By: eaststandmike[/cite]
    [cite]Posted By: The Red Robin[/cite]Rumour is that Warnock will go to Doncaster if O'Driscoll leaves for Burnley. At least they'll get some compensation for him, but he's doing an incredible job at Palace at the moment and if they sell all their half decent players and lose Warnock then I think it'll be the start of their demise!

    To be honest I think the demise has started, I had a look at a palace forum yesterday and the Nigels are restless, not at all happy about Fonte going to Southampton plus Danns and Moses leaving looks nailed on.

    I think you're right. This could be a very interesting situation if they can't afford to pay compensation for a manager already at another club as well and have to limit themselves to those out of employment. I genuinely thought they would be relegated this season but they've probably got enough points to be safe now. Next season, they'll be lucky not to finish bottom of the Championship at this rate. You never know, it could be us who sends them down!
  • [cite]Posted By: The Red Robin[/cite]
    [cite]Posted By: eaststandmike[/cite]
    [cite]Posted By: The Red Robin[/cite]Rumour is that Warnock will go to Doncaster if O'Driscoll leaves for Burnley. At least they'll get some compensation for him, but he's doing an incredible job at Palace at the moment and if they sell all their half decent players and lose Warnock then I think it'll be the start of their demise!

    To be honest I think the demise has started, I had a look at a palace forum yesterday and the Nigels are restless, not at all happy about Fonte going to Southampton plus Danns and Moses leaving looks nailed on.

    I think you're right. This could be a very interesting situation if they can't afford to pay compensation for a manager already at another club

    You mean just like we couldn't, hence lumbering us with a manager who won none of his matches as caretaker manager?
  • [cite]Posted By: Chris_from_Sidcup[/cite]
    [cite]Posted By: The Red Robin[/cite]
    [cite]Posted By: eaststandmike[/cite]
    [cite]Posted By: The Red Robin[/cite]Rumour is that Warnock will go to Doncaster if O'Driscoll leaves for Burnley. At least they'll get some compensation for him, but he's doing an incredible job at Palace at the moment and if they sell all their half decent players and lose Warnock then I think it'll be the start of their demise!

    To be honest I think the demise has started, I had a look at a palace forum yesterday and the Nigels are restless, not at all happy about Fonte going to Southampton plus Danns and Moses leaving looks nailed on.

    I think you're right. This could be a very interesting situation if they can't afford to pay compensation for a manager already at another club

    You mean just like we couldn't, hence lumbering us with a manager who won none of his matches as caretaker manager?

    ...with Pardew's squad. Doing aright now ain't he. I don't recall Curb's getting us promoted in his first season?
  • edited January 2010
    [cite]Posted By: The Red Robin[/cite]
    [cite]Posted By: eaststandmike[/cite]
    [cite]Posted By: The Red Robin[/cite]Rumour is that Warnock will go to Doncaster if O'Driscoll leaves for Burnley. At least they'll get some compensation for him, but he's doing an incredible job at Palace at the moment and if they sell all their half decent players and lose Warnock then I think it'll be the start of their demise!

    To be honest I think the demise has started, I had a look at a palace forum yesterday and the Nigels are restless, not at all happy about Fonte going to Southampton plus Danns and Moses leaving looks nailed on.

    I think you're right. This could be a very interesting situation if they can't afford to pay compensation for a manager already at another club as well and have to limit themselves to those out of employment. I genuinely thought they would be relegated this season but they've probably got enough points to be safe now. Next season, they'll be lucky not to finish bottom of the Championship at this rate. You never know, it could be us who sends them down!
    Palace aren't safe just yet, by the end of the month we should have a good idea of where they're going.
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