CRYSTAL Palace’s financial woes worsened this week as South London rivals Charlton complained to the Football League over an unpaid transfer fee.
The South London Press has learned that Charlton officials are “furious” that they have not yet received £100,000 owed to them as part of the transfer that saw Paddy McCarthy swap The Valley for Selhurst Park in 2008.
The instalment was due in December but cash-strapped Palace have not yet handed over the money, leaving Charlton - themselves in a difficult financial situation - short of cash.
Charlton reported Palace to the Football League earlier this month and this week lodged a complaint as the matter has still not been resolved.
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Football finances look like the banking sector 18 months ago. If one or two clubs fail I wouldn't be surprised if there was a domino effect though the whole system.
Didn't read it properly the first time. I thought the debt was outstanding from when he left in June 2008 or whenever it was.
Yes I am sure you are right about our Board worrying. £100K would pay for Moo2 for nearly 3 months!
Its comedy atm watching SSN wondering why no money is being spent or even loan deals occuring.
They had that ugger jock Bryan Swanson in the studio with regular updates but hes since disappeared as theres been literally nothing to report of what Sky considers newsworthy.....
Give you a clue mate theyre all skint!!
;-)
Now that is just too far fetched!
:-)
http://forums.cpfc.org/showthread.php?t=195884&page=3
Contains many unfunny Clown references. They really hate us so much : - )
As some middle eastern bloke said "let he who is without sin cast the first stone"
We're all robbing Peter to pay Paul at the moment and it's really about time the authorities started doing something to get it all under control.
Pretty much the same situation as it was with the banks. As long as those on the inside/running the show are getting a cushy living out of it nothing wil get done until the 'Sh** hits the fan'. Who suffers? The ordinary man in the street/football fan.
Because it runs the risk of bankrupting the whole of football or at least several clubs. I'm not saying these kinds of deals should be banned, just more heavily regualted and that clubs who miss payments should face stiffer penalties. The recent trend for transfer embargos is a good start and like the way the PL has redirected Pompey's TV money.
In this case I guess that since Palace are already under a transfer embargo not paying Charlton does them no extra damage so their attitude is that we are a lesser priority then the palace players or the tax man so we don't get paid.
However football clubs are treated as preferred creditors if a club goes in administration and have to be paid in full.
This gives them an "unfair" advantage over even the HMR&C (who are not happy about that) or the local printer or pie supplier. So not a free market it that case.
If however the league made a rule that fees had to be paid rather than having a buy now pay later attitude we might see a reduction in fees paid and bring them in line with what clubs can afford.
Love it.....LOL!!
In my view, if a club is well run (and Charlton, over the last fifteen years over-all have been), they deserve to do well; and if a club is badly managed (Leeds, Palace, Southampton, Newcastle, Portsmouth, etc, etc). Not for "football" manage its constituent clubs' affairs.
If you make the right financial investments (ensuring you own your ground; invest in youth player development; engender relationships with relevant local businesses; look after your relationship with your fans) you deserve to fail. If you spunk your dough on rubbish (renting expensive goldfish (Leeds); saddling yourself with unmanageable debt (several clubs); paying over the odds for sub-prime players (many clubs)) and if you fail to meet your financial obligaions (Palace) you deserve to fail.
Personally I don't think we would.
For all the bad blood I think our board would shy away as it wouldn't look good one club trying to close down another and especially when we are not in a healthy state ourselves. Could come back to bite us on the bum.
If Charlton fans said things along the lines of 'hope you go bust', they would have a coronory. Yet owing us money is seen as something good and funny.
That money is important to us and may impact on what we do in the window.
They can post as many clown pictures as they like, but it is their own club that is currently the complete laughing stock.
Lets see how much those clowns laugh if their situation worsens.