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Palace saved from going into liquidation

ChrisJbarnes

by ChrisJbarnes
in Football

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Matt

Matt

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Posted

The protest is over terms in the contract of the sale of the ground, not the club itself as the company which owned the ground was also placed into administration with HBOS as the main creditor of that company.

 

I just think there's a lot more to this than is currently in the public domain.

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Guest gggg

Guest gggg

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The protest is over terms in the contract of the sale of the ground

 

Exactly. They don't need that to survive and already have an agreement for the club and debts, so why are they threatening to liquidate the club unless this happens? Asset stripping?

 

CP2010 are chancers and they won't be going bust.

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wacko

wacko

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It's about time that a few clubs were punished for financial and corporate mismanagement.  As sad as it would be to see Crystal Palace go, it's now a business that has been run into the ground.  Hopefully, other clubs will start to take note.

 

Was just about to post something similar to that.

 

Every club so far has "got away with it" in the long terms, while shitting on it's employees in the process.

 

Football probably needs a few higher profile failed administrations before anything will be done about it.

 

In any bankruptcy, it's usually the employees and creditors who lose, not the management.

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Liam Liam Liam O

Liam Liam Liam O

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Posted

It's about time that a few clubs were punished for financial and corporate mismanagement. As sad as it would be to see Crystal Palace go, it's now a business that has been run into the ground. Hopefully, other clubs will start to take note.

 

Was just about to post something similar to that.

 

Every club so far has "got away with it" in the long terms, while shitting on it's employees in the process.

 

Football probably needs a few higher profile failed administrations before anything will be done about it.

 

In any bankruptcy, it's usually the employees and creditors who lose, not the management.

 

Yep, but it can't keep happening where clubs go into administration because of financial mismanagement (which isn't always the reason in other business sectors) and then come out of the other side of it where the club is then OK but loads of individuals have suffered.

 

Something drastic needs to happen unfortunately.

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wacko

wacko

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It's about time that a few clubs were punished for financial and corporate mismanagement.  As sad as it would be to see Crystal Palace go, it's now a business that has been run into the ground.  Hopefully, other clubs will start to take note.

 

Was just about to post something similar to that.

 

Every club so far has "got away with it" in the long terms, while shitting on it's employees in the process.

 

Football probably needs a few higher profile failed administrations before anything will be done about it.

 

In any bankruptcy, it's usually the employees and creditors who lose, not the management.

 

Yep, but it can't keep happening where clubs go into administration because of financial mismanagement (which isn't always the reason in other business sectors) and then come out of the other side of it where the club is then OK but loads of individuals have suffered.

 

Something drastic needs to happen unfortunately.

 

But that's what happens with plenty of "normal" companies, too. Exactly the same thing. The company borrows to invest in its products or services (in this case football), but finds it can't compete, so it goes bankrupt.

 

I mean, I agree entirely with what you're saying, but there's no reason for football-specific regulations. They should introduce legislation making all directors financially or criminally liable for their own negligent management.

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Thespence

Thespence

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Rumour has it the deal has collapsed

 

No worries, plenty time yet.

 

Worth going for Darren Ambrose, if they do go into liquidation?

 

The manager he has had his 1st good season in years is going to get him.

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Liam Liam Liam O

Liam Liam Liam O

Posted
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It's about time that a few clubs were punished for financial and corporate mismanagement.  As sad as it would be to see Crystal Palace go, it's now a business that has been run into the ground.  Hopefully, other clubs will start to take note.

 

Was just about to post something similar to that.

 

Every club so far has "got away with it" in the long terms, while shitting on it's employees in the process.

 

Football probably needs a few higher profile failed administrations before anything will be done about it.

 

In any bankruptcy, it's usually the employees and creditors who lose, not the management.

 

Yep, but it can't keep happening where clubs go into administration because of financial mismanagement (which isn't always the reason in other business sectors) and then come out of the other side of it where the club is then OK but loads of individuals have suffered.

 

Something drastic needs to happen unfortunately.

 

But that's what happens with plenty of "normal" companies, too. Exactly the same thing. The company borrows to invest in its products or services (in this case football), but finds it can't compete, so it goes bankrupt.

 

I mean, I agree entirely with what you're saying, but there's no reason for football-specific regulations. They should introduce legislation making all directors financially or criminally liable for their own negligent management.

 

I agree with you too. :lol:

 

What I'm getting at is that run properly professional football clubs shouldn't be going out of business, given the amount of money being poured into football in the last 15-20 years.

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Thespence

Thespence

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A news item posted on there website today

 

Champions Come To SE25

 

Crystal Palace would like to remind supporters that on Saturday 17th  July 2010 (3pm KO) we will be welcoming Premier League Champions Chelsea to Selhurst Park for a pre-season fixture.

 

Tickets are now on sale with adult tickets priced at £15 and concessions at £5.

 

There is also a Special Family Offer available for the day that allows Under 16s accompanied by a full paying adult to gain admittance for just £1.

 

You can purchase your tickets right now by calling our Box Office on 08712 00 00 71.

 

CPFC cannot guarantee which players will be available to participate from both squads.

 

The administrators of Crystal Palace FC are pleased to announce the forthcoming pre-season friendly against Chelsea FC on 17th July 2010 .Due to the club's current financial situation, all gate receipts from this fixture shall be held on trust and only released to the club should the fixture go ahead. In the event that the fixture is not fulfilled due to the club's current financial situation, all ticket purchases shall be refunded.

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Thespence

Thespence

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CPFC 2010 value Selhurst Park as a football ground but have agreed to pay a significant premium on that. We also recognise that a property developer may pay even more for the ground on the chance that they may be able to change its use sometime in the future. The bank have made it clear that they want to help the club and don't want to sell to a property developer now but are worried we may sell the land for development in the future, making a profit and embarrassing the bank in the process.

 

In order to put their minds at rest we have also agreed to an 'anti embarrassment' clause that allows the Bank to see a further return if we realise greater value from the ground in the future.

 

Didnt realise such things were knocking around can somene get Llambias to sign one NOW!!!

 

More @ http://www.cpfc.co.uk/page/News/0,,10323~2062318,00.html

 

From the above link

 

the future of Crystal palace hangs in the balance and is very much in the hands of a person in a Bank in Scotland whom we have never met and it seems we are not allowed to speak to.

 

If you have a top job at a bank & you can close compaines down at least have the balls to meet people & let people know who you are. FUCKING COWARD

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Guest dazzanufc1892

Guest dazzanufc1892

Posted
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hate the club, dont know why, just always have. They remind me of the scruffy neighbour you just wish would move out, plus, warnock was there, good riddance

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steve_69

steve_69

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hate the club, dont know why, just always have. They remind me of the scruffy neighbour you just wish would move out, plus, warnock was there, good riddance

 

Could it also have something to do with that pissflap Simon Jordan?

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JH

JH

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It's amazing how much anger there is against the banks from the fans - Palace borrowed money and when they didn't pay it back, the bank demanded interest/payments etc. - how dare they?! :angry: :lol:

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Thespence

Thespence

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It's amazing how much anger there is against the banks from the fans - Palace borrowed money and when they didn't pay it back, the bank demanded interest/payments etc. - how dare they?! :angry: :lol:

 

"The consortium want to thank Lloyds specifically as they really came to the rescue to save the negotiations.

 

Sounds like anger.

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