mmmmmmm well it's a no news article really. In respect that palace are in a tight financial spot.
We have been in this spot for a good while now and it's clear to see.
I'm realistic about whats going to happen here, who in their right mind would pay a fee for CPFC, when you can let it slip into admin and get it for nowt and a reduced set of debts.
SJ does put his money in and I respect him for that, he also spouts quite a lot of crap- not so much for me to respect there.
But this is a bigger picture issue (yes bigger than even Palace v Charlton). Outside of the premier league elite clubs professional football in this country is heading into a very tough season.
I would say that the season that starts 2010/2011 will see a large number of teams starting with points deductions............would be suprised if we are not one of them.
I have to say my level of interest in the beautiful game is probably at an all time low.........it's pretty shitty when the only way fans can score points of each other these days is by assessing which club has the best financial wreckage/situtaion.
What happened to goals, going to the game, players coming through the ranks and being viewed as footballers rather than assets.
Its all a load of bollocks these days......................
[cite]Posted By: son of selhurst[/cite]mmmmmmm well it's a no news article really. In respect that palace are in a tight financial spot.
We have been in this spot for a good while now and it's clear to see.
I'm realistic about whats going to happen here, who in their right mind would pay a fee for CPFC, when you can let it slip into admin and get it for nowt and a reduced set of debts.
SJ does put his money in and I respect him for that, he also spouts quite a lot of crap- not so much for me to respect there.
But this is a bigger picture issue (yes bigger than even Palace v Charlton). Outside of the premier league elite clubs professional football in this country is heading into a very tough season.
I would say that the season that starts 2010/2011 will see a large number of teams starting with points deductions............would be suprised if we are not one of them.
Thanks SOS, I think we are allowed a little laugh after the reaction of some palace fans to the Mail on Sunday story.
I hate to say it but Jordan is, if the story is correct, putting his money where his mouth is so good on him.
As you say buyers might well prefer to wait for Admin and pick the club up cheap but I wonder where the Portillo's distressed financing co. fits in. They already have a change on the assets and that may include the players.
Not happy time for either of our clubs right now.
We are selling off the training ground to raise capital and you are having to put £5m in to pay player wages.
With banks so unwilling to lend and a finite supply of sugar daddies some club somewhere is going to go under some time and that may be soon. Don't think it will be Charlton but some poor fans somewhere will have to pick up the pieces.
[cite]Posted By: son of selhurst[/cite]And another thing!
I have to say my level of interest in the beautiful game is probably at an all time low.........it's pretty shitty when the only way fans can score points of each other these days is buy assessing which club has the best financial wreckage/situtaion.
What happened to goals, going to the game, players coming through the ranks and being viewed as footballers rather than assets.
Its all a load of bollocks these days......................
Nurse!
Dont make you wrong mate..... Ive only just remembered that its the 1st game of the season on Saturday.
10yrs ago I would have been crossing the days off on the calendar and working out how many were left till "The big KO"!!
[cite]Posted By: son of selhurst[/cite]And another thing!
I have to say my level of interest in the beautiful game is probably at an all time low.........it's pretty shitty when the only way fans can score points of each other these days is buy assessing which club has the best financial wreckage/situtaion.
What happened to goals, going to the game, players coming through the ranks and being viewed as footballers rather than assets.
Its all a load of bollocks these days......................
Nurse!
I often find myself agreeing with your sentiments regarding the bigger picture SOS, so it's a shame you're Palace ;o)
[cite]Posted By: son of selhurst[/cite]And another thing!
I have to say my level of interest in the beautiful game is probably at an all time low.........it's pretty shitty when the only way fans can score points of each other these days is buy assessing which club has the best financial wreckage/situtaion.
What happened to goals, going to the game, players coming through the ranks and being viewed as footballers rather than assets.
Its all a load of bollocks these days......................
Nurse!
I often find myself agreeing with your sentiments regarding the bigger picture SOS, so it's a shame you're Palace ;o)
The Palace fans I've spoken to normally talk sense......as for the other lot................
The big question for Palace, of course, is how much more cash is Jordan willing to put into the club? He is obviously wealthy but is not a bottomless pit of cash so at some stage he will have to stop funding it. Unless they get to the PL - which seems unlikely - they are not an attractive investment.
So Millwall have an American bankrolling them, who while currently is making the right noises is probably hoping to sell the Den to make money. I note Millwall haven't spent money this summer and have to sell their best player. Our Chairman and directors appear to have run out of reddies and are desperate for a bidder. Whatever happens they will take a big financial hit. We are having to sell our best players and bring in Bosmans. And now SJ hits the headlines moaning about having to pay the bills at palace. He seems to court affection from the palace faithful but is clearly feeling the pinch. I think Palace will eventually go bust which is a shame really because SJ is a real fan. All our SE London clubs are in dire straits, mainly because the players are paid far too much money and in our case because we invested (Gambled) on the wrong players.
Let's merge Charlton, Millwall and Palace and play at the Olympic stadium ground. 60,000 sell out each week and we could put all the players in a line and pick our best team.
The Football League has banned Crystal Palace from signing any new players.
The embargo has been put in place because of a dispute over unpaid player bonuses and signing-on fees from last season.
Palace chairman Simon Jordan says the current squad have been fully paid but insists former players, who are believed to have turned down the chance to defer their bonuses, will be still get their cash.
Jordan told the Daily Mail: "This summer has been difficult for Palace and therefore for me. We had a poor season and attendances were down. I have stepped in to bankroll the club to the tune of £5million between May 20 and July 31.
"I don’t have a board of investors pumping money in. Most clubs would have gone into administration but ours hasn’t because I stood up and made payments to hold the squad together.
"Most Palace fans will find it perplexing having finished 15th, but there are bonuses due and severance payments outstanding to ex-players. This doesn’t apply to the existing squad. Everyone at the club has been paid."
These are going to be tough times for any club outside the Sky 4. I think that it will end up with an EPL of those 4 teams playing each other on rotation unless something is done to put some money back into lower league football. And that's not just another way of begging people to give some money to CAFC!
I have a natural aversion to the stripeys, but I hope they manage to stay afloat. I wouldn't wish bankruptcy on any club - with the possible exception of the aformentioned Sky 4 (like that's going to happen).
Isn't it down to one thing very poor players like Ambrose get paid a wage which in no way reflects his performance/productivity. Whether I like Jordan or not, the man's done his best for Palace whilst I can only say that for one or two footballers at Charlton.
[cite]Posted By: ColinTat[/cite]Isn't it down to one thing very poor players like Ambrose get paid a wage which in no way reflects his performance/productivity. Whether I like Jordan or not, the man's done his best for Palace whilst I can only say that for one or two footballers at Charlton.
Well there's now a situation where players like Ambrose - who has not yet paid a competitive game for Palace - is being paid, but other players - to whom Jordan awarded contracts - are being asked to defer wage demands. Very naughty.
"The realism though is that Palace are as they have always been a selling club" - virtually every club outside of the top flight can be labelled a selling club. If a top flight side makes an offer for a championship player then in all likelihood, that player will be sold. Even big clubs like Spurs and Everton struggle to keep hold of their players (Berbatov, Carrick, Rooney, Lescott (if he goes) when the top 4 come knocking.
"I have stepped in to bankroll the club to the tune of £5million between May 20 and July 31" - this is what would be most alarming for me if i was a Palace fan. A bill of £5m in just over 10 weeks. So Palace have bills of over £25m over a year. They'll get nowhere near that incoming so they're in big trouble.
[cite]Posted By: Chris_from_Sidcup[/cite]
"I have stepped in to bankroll the club to the tune of £5million between May 20 and July 31" - this is what would be most alarming for me if i was a Palace fan. A bill of £5m in just over 10 weeks. So Palace have bills of over £25m over a year. They'll get nowhere near that incoming so they're in big trouble.
I doubt it works out quite like that. End of June or July is normal financial year end for Football clubs so a large number of bills, stages on fees paid over a number of seasons plus tax/NI might all come at around the same time.
That's my uneducated guess.
But is it still a big bail out however you look at it when they have falling gates, lots of long term STs for the which the money was long spent plus rent to pay on the ground.
So Jordan has put 'another' £5m of his money into Palace up to and including 31st July 2009. Yet within hours a transfer embargo has been put in place due to (amongst other things) the fact he hasn't paid the bonuses to his players for last season - including those who have left the club. Does this mean the £5m just filled a black hole and wasn't enough to pay off the current liabilities? I wouldn't be surprised if a good proportion of this was to pay the next rent payment for SP which was due by 31/07 and any other contingent liabilities he had with regard to loans/funding.
Jordan really is between a rock and a hard place. He can't go into admin as he will lose all his 'investment', so he has to pump more of his personal fortune into the club just to keep it ticking over. It will be interesting to see if they manage to keep hold of Clyne and Moses in the next fortnight.
Someone once said that competitive sailing racing was like standing under a cold shower tearing up five pound notes. The analogy for individuals owning football clubs is very similar. The reality for Charlton, and I suspect most others, is to balance the books, annual income £5,000,000, annual expenditure £4,999,000....result happiness. Annual income £5,000,000, annual expenditure £5,000,100 result administration (?). Until we pay players realistically we all will always suffer.
Like any fan of a football team, when your teams news becomes national news, it's usually not a surprise to hear it as it appears to have been on the cards for some time. A good example for you would be the proposed takeover which took some time to reach the national newspapers.
Pretty worrying times as we're not an attractive club to buy. It's very frustrating I'm sure you'll agree when you see the likes of Notts County getting taken over and spending millions already whilst we're stuck no money even though there's potential there.
The only transfer we're close to concluding is Claude Davis so apart from that, the embargo isn't going to affect us greatly as we're unlikely to sign anyone else. We just have to hope our academy keeps churning out new talent.
I'm not sure you guys have any right to laugh at our situation but you are all well aware of your own situation so I doubt that'll be the case! Interesting times though but it's never simple at Selhurst.
I'm not sure you guys have any right to laugh at our situation but you are all well aware of your own situation so I doubt that'll be the case! Interesting times though but it's never simple at Selhurst.[/quote]
To be fair, the majority on here are being symathetic, and realise that most clubs of our size face uncertain times.
The one thing both Charlton and Palace have in common, is the need to find new owners, the problem been though is who ever does takeover needs to have major capital behind them.
I'm not sure you guys have any right to laugh at our situation but you are all well aware of your own situation so I doubt that'll be the case! Interesting times though but it's never simple at Selhurst.[/quote]
To be fair, the majority on here are being symathetic, and realise that most clubs of our size face uncertain times.
The one thing both Charlton and Palace have in common, is the need to find new owners, the problem been though is who ever does takeover needs to have major capital behind them.[/quote]
Yeah I do not doubt that apart from the fact they support the clowns, the vast majority are a good bunch on here...
You do, however get a minority on any messageboard who will try and rub it in without looking at their own problems, I expect we'll see this happen in a few days!
In 1984 we were 45 minutes from oblivion and I wouldn't wish that on any club. Even Palace or Millwall.
We live in uncertain times generally but especially when it comes to the future of full time football for Clubs outside of the top flight who are not fortunate enough to besubsidised by obscene amounts of Sky money.
Len id wish it on Arsenal. To see the smug twats sqirm ahhhhhhhhhhhhhhhhhhhhhhhhhh now that would be a mighty fine thing. All the Sarf London Gooners would be toping themselves (shame id do it for em). Never happen , but i can dream.
Comments
Moi?
What like the scoreboard?
We have been in this spot for a good while now and it's clear to see.
I'm realistic about whats going to happen here, who in their right mind would pay a fee for CPFC, when you can let it slip into admin and get it for nowt and a reduced set of debts.
SJ does put his money in and I respect him for that, he also spouts quite a lot of crap- not so much for me to respect there.
But this is a bigger picture issue (yes bigger than even Palace v Charlton). Outside of the premier league elite clubs professional football in this country is heading into a very tough season.
I would say that the season that starts 2010/2011 will see a large number of teams starting with points deductions............would be suprised if we are not one of them.
I have to say my level of interest in the beautiful game is probably at an all time low.........it's pretty shitty when the only way fans can score points of each other these days is by assessing which club has the best financial wreckage/situtaion.
What happened to goals, going to the game, players coming through the ranks and being viewed as footballers rather than assets.
Its all a load of bollocks these days......................
Nurse!
"Do you not really care about us" ?
Thanks SOS, I think we are allowed a little laugh after the reaction of some palace fans to the Mail on Sunday story.
I hate to say it but Jordan is, if the story is correct, putting his money where his mouth is so good on him.
As you say buyers might well prefer to wait for Admin and pick the club up cheap but I wonder where the Portillo's distressed financing co. fits in. They already have a change on the assets and that may include the players.
Not happy time for either of our clubs right now.
We are selling off the training ground to raise capital and you are having to put £5m in to pay player wages.
With banks so unwilling to lend and a finite supply of sugar daddies some club somewhere is going to go under some time and that may be soon. Don't think it will be Charlton but some poor fans somewhere will have to pick up the pieces.
Dont make you wrong mate..... Ive only just remembered that its the 1st game of the season on Saturday.
10yrs ago I would have been crossing the days off on the calendar and working out how many were left till "The big KO"!!
I often find myself agreeing with your sentiments regarding the bigger picture SOS, so it's a shame you're Palace ;o)
The Palace fans I've spoken to normally talk sense......as for the other lot................
Our Chairman and directors appear to have run out of reddies and are desperate for a bidder. Whatever happens they will take a big financial hit. We are having to sell our best players and bring in Bosmans.
And now SJ hits the headlines moaning about having to pay the bills at palace. He seems to court affection from the palace faithful but is clearly feeling the pinch. I think Palace will eventually go bust which is a shame really because SJ is a real fan.
All our SE London clubs are in dire straits, mainly because the players are paid far too much money and in our case because we invested (Gambled) on the wrong players.
We'd get Darren Ambrose back then ........ ;-)
http://www.holmesdale.net/page.php?id=82&story=4434
The Football League has banned Crystal Palace from signing any new players.
The embargo has been put in place because of a dispute over unpaid player bonuses and signing-on fees from last season.
Palace chairman Simon Jordan says the current squad have been fully paid but insists former players, who are believed to have turned down the chance to defer their bonuses, will be still get their cash.
Jordan told the Daily Mail: "This summer has been difficult for Palace and therefore for me. We had a poor season and attendances were down. I have stepped in to bankroll the club to the tune of £5million between May 20 and July 31.
"I don’t have a board of investors pumping money in. Most clubs would have gone into administration but ours hasn’t because I stood up and made payments to hold the squad together.
"Most Palace fans will find it perplexing having finished 15th, but there are bonuses due and severance payments outstanding to ex-players. This doesn’t apply to the existing squad. Everyone at the club has been paid."
I have a natural aversion to the stripeys, but I hope they manage to stay afloat. I wouldn't wish bankruptcy on any club - with the possible exception of the aformentioned Sky 4 (like that's going to happen).
"I have stepped in to bankroll the club to the tune of £5million between May 20 and July 31" - this is what would be most alarming for me if i was a Palace fan. A bill of £5m in just over 10 weeks. So Palace have bills of over £25m over a year. They'll get nowhere near that incoming so they're in big trouble.
I doubt it works out quite like that. End of June or July is normal financial year end for Football clubs so a large number of bills, stages on fees paid over a number of seasons plus tax/NI might all come at around the same time.
That's my uneducated guess.
But is it still a big bail out however you look at it when they have falling gates, lots of long term STs for the which the money was long spent plus rent to pay on the ground.
hard times in SE25
So Jordan has put 'another' £5m of his money into Palace up to and including 31st July 2009. Yet within hours a transfer embargo has been put in place due to (amongst other things) the fact he hasn't paid the bonuses to his players for last season - including those who have left the club. Does this mean the £5m just filled a black hole and wasn't enough to pay off the current liabilities? I wouldn't be surprised if a good proportion of this was to pay the next rent payment for SP which was due by 31/07 and any other contingent liabilities he had with regard to loans/funding.
Jordan really is between a rock and a hard place. He can't go into admin as he will lose all his 'investment', so he has to pump more of his personal fortune into the club just to keep it ticking over. It will be interesting to see if they manage to keep hold of Clyne and Moses in the next fortnight.
And you think we have problems.......
The reality for Charlton, and I suspect most others, is to balance the books, annual income £5,000,000, annual expenditure £4,999,000....result happiness. Annual income £5,000,000, annual expenditure £5,000,100 result administration (?).
Until we pay players realistically we all will always suffer.
Like any fan of a football team, when your teams news becomes national news, it's usually not a surprise to hear it as it appears to have been on the cards for some time. A good example for you would be the proposed takeover which took some time to reach the national newspapers.
Pretty worrying times as we're not an attractive club to buy. It's very frustrating I'm sure you'll agree when you see the likes of Notts County getting taken over and spending millions already whilst we're stuck no money even though there's potential there.
The only transfer we're close to concluding is Claude Davis so apart from that, the embargo isn't going to affect us greatly as we're unlikely to sign anyone else. We just have to hope our academy keeps churning out new talent.
I'm not sure you guys have any right to laugh at our situation but you are all well aware of your own situation so I doubt that'll be the case! Interesting times though but it's never simple at Selhurst.
I'm not sure you guys have any right to laugh at our situation but you are all well aware of your own situation so I doubt that'll be the case! Interesting times though but it's never simple at Selhurst.[/quote]
To be fair, the majority on here are being symathetic, and realise that most clubs of our size face uncertain times.
The one thing both Charlton and Palace have in common, is the need to find new owners, the problem been though is who ever does takeover needs to have major capital behind them.
I'm not sure you guys have any right to laugh at our situation but you are all well aware of your own situation so I doubt that'll be the case! Interesting times though but it's never simple at Selhurst.[/quote]
To be fair, the majority on here are being symathetic, and realise that most clubs of our size face uncertain times.
The one thing both Charlton and Palace have in common, is the need to find new owners, the problem been though is who ever does takeover needs to have major capital behind them.[/quote]
Yeah I do not doubt that apart from the fact they support the clowns, the vast majority are a good bunch on here...
You do, however get a minority on any messageboard who will try and rub it in without looking at their own problems, I expect we'll see this happen in a few days!
Funny how a little bit of his own medicine has calmed him down.
We live in uncertain times generally but especially when it comes to the future of full time football for Clubs outside of the top flight who are not fortunate enough to besubsidised by obscene amounts of Sky money.