Palace

[Mellor 3 Ward 4]

Genuine question to all our 'friends'.

What's the current situation?

I was told (on the weekend you stayed up) by someone that PWC were playing hardball over the ground and that he thought you may well have played your last game at Selhurst.

Will you be out of Admin before next season?

Who is likely to be sold?

It seems to have gone very quiet - good sign or not?

 

[bhaexpress]

I hear that they are near sorting themselves out but that could just be wishful thinking.

 

[Titanic]

Simon Jordan

http://www.cpfc.org/forums/showthread.php?t=202400

 

[bhaexpress]

Jordon has lost a lot of money but I can't see what good it will do him blocking the CVA.

 

[little al]

We should have some good news very soon.

 

[churley1]

Ok the way I see it so far is :

1. CPFC2010 have made a bid of £3 million (I think) for the club

2. They have also signed a contract to fund the club through the summer - good news.

3. They have agreed with some secured creditors the sum which will be paid back, not sure if Agilo (hedgefund who put us in admin) are on board.

4. Jordan is being a prat and said CPFC2010 should not be allowed to take the club over as there could be a better bid. He also said the club has not been marketed properly despite the fact he couldn't sell the club himself!

5. Rumours he may reject the CVA meaning another points deduction, likely to be 17 points.

6. Sale of Selhurst not yet completed, but if the consortium are funding the club for now, I would see that as only good news regarding the purchase of the ground.

Make of that what you will, I don't know all the details. Unfortunately we need Jordan to see sense, not something he's used to doing. I don't see what he will achieve by rejecting the CVA so negotiations are ongoing.

 

[26-10-02]

We should have some good news very soon.

must be reading a different thread to me on the BBS.

 

[portslade seagull]

Jordan sounds like some-one we used to know by the name of Archer.... you need to start doing what we done back then to let him know your feelings on the situ

 

[seagullsovergrimsby]

PWC will not be bullied into accepting a piss poor offer for the freehold to Selhurst. CPFC2010 is hoping that they have leverage now they have signed an exclusive agreement with the club administrator. PWC know the land is worth a fortune if it is redeveloped so it is their interest to let the consortium fall by the wayside by holding out for a fair price. Once the club is liquidated , the council will be unable to stop planning permission being sought as Selhurst will no longer be a sporting venue.

 

[26-10-02]

the council will be unable to stop planning permission being sought as Selhurst will no longer be a sporting venue.

Wrong!

 

[Publius Ovidius]

Speaking to my palace STH this weekend ( who took a bad beating at Wednesday seemly), he reckons the main concern is that the consortium will have to talk to two administrators as the company that owns Selhurst is in administration too. the original £12million figure to buy the ground will probably end up around £5 or £6 million.

His main concern is why Jordan wants to get back in bed with the club as he fears it may just be a way he can recoup some of his losses.

 

[seagullsovergrimsby]

Wrong!

Haven't the council gone on record as saying that they will oppose any planning permission to redevelop Selhurst Park as long as Palace exist ?

 

[seagullsovergrimsby]

Speaking to my palace STH this weekend ( who took a bad beating at Wednesday seemly), he reckons the main concern is that the consortium will have to talk to two administrators as the company that owns Selhurst is in administration too. the original £12million figure to buy the ground will probably end up around £5 or £6 million.

His main concern is why Jordan wants to get back in bed with the club as he fears it may just be a way he can recoup some of his losses.

Tangoman has 2 choices , either end up with nothing or accept 1p in the £. Why would PWC sell the freehold to CPFC2010 if they can get double that from a redeveloper ?

 

[Publius Ovidius]

Tangoman has 2 choices , either end up with nothing or accept 1p in the £. Why would PWC sell the freehold to CPFC2010 if they can get double that from a redeveloper ?

well I assume at the end of the day they will have to be pragmatic. If the council say no to development then whoover owns selhurst will have to take what is offered ( or the administrators)

 

[Marshy]

Long way to go in this one i think

 

[bhaexpress]

Haven't the council gone on record as saying that they will oppose any planning permission to redevelop Selhurst Park as long as Palace exist ?

Like Lewes ?

 

[seagullsovergrimsby]

Front page of the Croydon Guardian from 3 weeks ago. Selhurst Park could become giant supermarket
12:44pm Monday 26th April 2010


Selhurst Park could become a giant supermarket if developers are willing to challenge the strict planning policy Croydon Council has placed on the site.

Lloyds Banking Group, which is owed £12m by current Selhurst Park owner Paul Kemsley, has the option of selling the ground for a cut-price £3m to a consortium of Crystal Palace fans, or make double the cash through a private developer.

Top figures at Lloyds are believed to have become involved to prevent the bank entering a possible public relations disaster by handling the sale badly.

But the bank has to weigh up risking the future of the football club by selling to a developer, against costing its shareholders money if it accepts fan consortium CPFC 2010’s bid.

Sainsbury’s is believed to be among the four parties interested in the stadium despite already running a store next to the ground, as it is thought to be seeking a 70,000 sq ft outlet in the area.

Croydon Council has reiterated its policy of refusing any development at Selhurst Park which would put its future as a stadium in jeopardy, unless an alternative can be built “within or close to the borough”.

But according to a report in the Daily Telegraph, the developers involved in the race for the stadium site are thought to be financially strong enough to fund a bid, planning applications and appeal if necessary.

The council created the planning policy to safeguard Crystal Palace’s presence within Croydon because of the economic, social and cultural benefits officers believe it brings to the borough.

Its policy dictates any new owner providing another ground would have to retain a space on the Selhurst Park site equivalent to the pitch as local open land.

 

[Danny-Boy]

Ok the way I see it so far is :

1. CPFC2010 have made a bid of £3 million (I think) for the club

2. They have also signed a contract to fund the club through the summer - good news.

3. They have agreed with some secured creditors the sum which will be paid back, not sure if Agilo (hedgefund who put us in admin) are on board.

4. Jordan is being a prat and said CPFC2010 should not be allowed to take the club over as there could be a better bid. He also said the club has not been marketed properly despite the fact he couldn't sell the club himself!

5. Rumours he may reject the CVA meaning another points deduction, likely to be 17 points.

6. Sale of Selhurst not yet completed, but if the consortium are funding the club for now, I would see that as only good news regarding the purchase of the ground.

Make of that what you will, I don't know all the details. Unfortunately we need Jordan to see sense, not something he's used to doing. I don't see what he will achieve by rejecting the CVA so negotiations are ongoing.

Read this....
Jordan could decide Palace's future - Crystal Palace FC Supporters' Website - The Holmesdale Online

Getting £78,000 back on your alleged debt of £7.8 million would not exactly seem an appetising offer, to be honest. That might be the only asset he's got now!

If I had £250k to spare, which let's face it is not big bucks, a Premiership player earns more than that in a month, then I would contemplate taking over a team I love.

 

[Danny-Boy]

Like Lewes ?

Yes the local Council in Lewes have certainly supported Lewes FC from going under and therefore having to vacate the Dripping Pan.

 

[Danny-Boy]

PWC will not be bullied into accepting a piss poor offer for the freehold to Selhurst. CPFC2010 is hoping that they have leverage now they have signed an exclusive agreement with the club administrator. PWC know the land is worth a fortune if it is redeveloped so it is their interest to let the consortium fall by the wayside by holding out for a fair price. Once the club is liquidated , the council will be unable to stop planning permission being sought as Selhurst will no longer be a sporting venue.

Surely the answer then is for Palace to go the Falmer route, get a new stadium built at Selhurst which provides educational facilities which would then be funded by the state.....oh.