I dont understand why

[El Presidente]

Is there a director/directors who are covering the cost of the latest legal bills because that is the only reason why I could see that a director doesnt give a personal short term loan.

I can think of two other reasons.

1. They don't have any money
2. It is not a responsibility of a director to subsidise the business.

 

[Simster]

Is there a director/directors who are covering the cost of the latest legal bills because that is the only reason why I could see that a director doesnt give a personal short term loan.

How are you getting on with my list? The good news is that Rishi News, Portslade have generously committed to providing the club with 6 curlie wurlies and a packet of Opal Fruits with which to feed Roy Keane's kids (plus first-dibs on out-of-date Topics).

 

[BensGrandad]

I can think of two other reasons.

1. They don't have any money
2. It is not a responsibility of a director to subsidise the business.

If its no 1 I can understand that but if No2 I would want to protect my investment and interests and if giving a personal did that then that is the route that I would take.

Perhaps that is why I am not a millionaire.

 

[El Presidente]

The problem is with number 2 is that it could be seen as pouring good money after bad. I have worked in the insolvency business and it is a very common business error.

 

[Lord Bracknell]

Fact:

When Raymond Bloye was Chairman of Palace none of their players was paid by CPFC they were all paid as PR executives by Matthews Butchers.

Hasn't that deceit now been made ILLEGAL?

Or if not illegal, hasn't it been outlawed by either the FA or the Football League?

If corruption in football is ever going to be stamped out, it is essential that the finances of the Clubs are kept clean. How else to enforce good practice such as capping the wage bill to 60 per cent of a Football Club's turnover?

My personal view is that the game will lose all its attraction if it becomes a battle between the bank balances of rich investors with an eye only for greater wealth at the expense of exploited fans and TV viewers.

 

[BensGrandad]

Hasn't that deceit now been made ILLEGAL?

Or if not illegal, hasn't it been outlawed by either the FA or the Football League?

I am not sure but probably so as I became aware of this as being a county member we had to inspect balance sheets to look for anything that can be construed as not essential to the running of the club e.g £5000 spent on a trip to India during August etc.

Cystal Palace Profit and Loss sheet showed 2 lines:
Total Income Nil
Total Expenditure NIL

 

[BensGrandad]

The problem is with number 2 is that it could be seen as pouring good money after bad. I have worked in the insolvency business and it is a very common business error.

I accept your superior knowledge on this subject but as a layman it seems so easy for Derek Chapman to say ok I will pay his wages until the club are re-imbersed for their legal expenses and then you repay me. Provided of course that he has that amount of spare money.

How many dads pay their childrens expenses until they get paid or get their student grant.