I happened to pick up a copy of the mirror this morning which had a little article about Palace tucked away in the corner. Not sure how much of this is true or even new, but I thought I worth repeating it here. I don't get the bit at the end about the administrator quitting, how does that work?
"PALACE ON THE BRINK
By Darren Lewis
Crystal palace are understood to be just three weeks away from meltdown.
The 1990 FA cup finalists, just a point above the drop zone, are nowhere near finding a desperately needed new buyer which means:
- Manager Paul Hart is set to quit and join the Spurs coaching staff at the end of the season.
- First team coach John Pemberton will leave for Sheffield United
- The much-vaunted Palace academy is set to be scrapped in early May due to lack of funding.
- The Eagle could be forced into a groundshare with their Selhurst Park home at risk.
Club insiders even fear administrator Brenden Guifoyle, charged with finding a new buyer, will quit once the money runs out."
(The Mirror, page 70, 15/04/10)
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Comments
yeah I'm sure that's him, always thought he sounded a bit like an agent the way he comes across.
I offered the Palace administrator £1 he says I am the only person to make a concrete offer.
posted by Chris Waters on Wednesday 14th of April 2010 10:39:20 PM
The Trust wishes to announce that it is actively working on a scheme to enable fans to put money towards saving CPFC. It will be launched as soon as it is ready and passed as legally compliant; we are in active conversations with a law firm to ensure this is the case. Full details of the scheme will be available as soon as this is completed. The announcement has been brought forward in advance of reports in tomorrow's newspapers concerning the future of the club.
In addition we have been trying to contact CPFC administrator Brendan Guilfoyle to request a meeting to discuss the latest situation at the club, however we have had no response. We will continue to press for this meeting as a matter of urgency.
Nothing really new here.
Hart is only contracted until the end of the season.
Pemberton has already agreed to go to the Blades.
Their 'much vaunted' academy will probably fold regardless because of the cost anyway. I understand that their undercover training facilities has the same puncture that our hot air pitch cover has. It's not even at their training ground - which could also go as Jordan sold it for £1.5m with an annual rent of £175k.
The groundshare position is worrying though. I have heard it mentioned three times now (even before they went into administration) and I wouldn't mind hearing from either RM or SW if this is a possibility. It certainly makes financial sense for Palace.
Interesting about Guilfoyle. He should only get paid once a CVA has been agreed (he will be a preferred creditor) and as he was saying he only had enough money to keep Palace going until 4th May, the way I interpret that is they will be going into receivership. Which seems a bit drastic.
The CPFC2010 consortia really need to have some financial clout though to purchase the ground, satisfy the creditors via a CVA (which seems to rest in the hands of Jordan) and still survive the summer with no income - regardless of what division they are in.
Must be worrying times for the Palace faithful.
I would imagine it is the fans to save them or nothing when it comes to Palace and it wouldn't surprise me if who ever is behind CPFC 2010 is waiting to see what division they are in next year before proceeding or not.
Spuds fan apparently.
Oh by the way, the Training Ground was sold by Tangoman and the rent there is uneconomic as well. All in all, Tangoman, the master business man, seems to have lost his business marbles (if he ever had any), on his way to losing his shirt and has stuffed the club up with a shed load of trouble.
Crystal Palace in Bromley ? no thanks, let Croydon Council sort their own out.
Stitch them up on rent and basically control them.
They could always use the Withdean stadium or The New Den.
i think that at a time when evey penny counts utilise the facilities we have at the right price i would share our ground with them no probs
Feck off. I live in Crystal Palace. Last thing i'd want is 10,000 nigels up my neck of the wood every other weekend. Anyway can't see it happening, there's an army of local nimbies and the park is the their holy grail.