Palace's financial results (waiting, waiting, waiting...)

[loz]

http://www.sportsdirectnews.com/prem...?#.UsvbvPRdVsM

Crystal Palace recorded a healthy £3.5 million profit during their promotion-winning season.
SportsDirect News can reveal that following their 1-0 play-off final success against Watford, which saw the south Londoners reclaim a spot in the Premier League former manager, Ian Holloway, his players and the Eagles’ backroom staff shared more than £4m in bonus payments.
But the club was only able to register a profit due to the £14m in transfer fees that were netted from the sale of Academy starlets Wilfred Zaha and Nathaniel Clyne, who joined Manchester United and Southampton.
If these transfers had not gone through, then Palace would have made a trading loss of £7.7m for the 2012-13 season.
Details of the club’s finances are revealed in latest set of annual accounts for CPFC 2010 Limited – the business that controls Palace – which have just been deposited at Companies House.
As well as disclosing the amount paid out to Holloway and the players, the accounts also paint a generally positive picture about the club’s off-the-field performance.
The club’s overall debts reduced from £10.1m to £7.4m during the successful promotion campaign – and Palace also paid £2.3m to buy their Copers Cope Road training ground.
“There’s still work to be done at Palace on the financial front, but these latest set of figures show the club is heading in the right direction,” commented respected football consultant, Dean Carter.
“Retaining their place in the Premier League is clearly a priority on all levels, particularly as this will further strengthen the club’s bank balance.”
On the field, Palace have enjoyed a successful period under new boss, Tony Pulis. The Eagles are currently in 18th position in the table, after securing three wins from their last seven Premier League outings. On Saturday, they defeated WBA 1-0 in the FA Cup third round – a result that further emphasised the remarkable turnaround in Palace’s fortunes.
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[fosters headband]

http://www.sportsdirectnews.com/prem...?#.UsvbvPRdVsM


But the club was only able to register a profit due to the £14m in transfer fees that were netted from the sale of Academy starlets Wilfred Zaha and Nathaniel Clyne, who joined Manchester United and Southampton.
If these transfers had not gone through, then Palace would have made a trading loss of £7.7m for the 2012-13 season.

So they had to sell two academy wonders to make this profit.

 

[GreersElbow]

It'll be interesting to see what their current wage bill is and how that'll effect them if/when they go done.

 

[Curious Orange]

Show's what a difference being able to mug Man United made.

 

[loz]

So they had to sell two academy wonders to make this profit.

And??

 

[Bozza]

Our results are due out shortly. I wouldn't be throwing too much mud in Palace's direction right now - it might come back with interest.

 

[Curious Orange]

Our results are due out shortly. I wouldn't be throwing too much mud in Palace's direction right now - it might come back with interest.

No mud-slinging as far as I can see - I hope that if we sell any of our players it is for equally over-inflated prices though!

 

[Nathan]

I hate to say it, but they made a profit and got promoted. Hopefully they will **** it all up shortly.

 

[seagullsovergrimsby]

Our results are due out shortly. I wouldn't be throwing too much mud in Palace's direction right now - it might come back with interest.

The wages bill for Vicente and Harley

 

[paulie]

Wurzel and his backroom boys pocketed £4M in bonuses. Did he also get £2M as a severance payment to leave by mutual consent ? Surely they have to be on the verge of spending part of next season's parachute payment when Pulis brings in replacements ?

So that's a bonus rate of around 3% on current and future income - perfectly acceptable. I don't think the mighty Albion staff picked up any bonuses last year - big club, no bottle when it counts.

 

[Biscuit]

Not fishing, genuine question. How much of their £3m profit will be going into sustaining the stadium? Or have funds already been allocated?

 

[fosters headband]

Not fishing, genuine question. How much of their £3m profit will be going into sustaining the stadium? Or have funds already been allocated?

Will probably cover the cost of cladding over the cracks

 

[PILTDOWN MAN]

Our results are due out shortly. I wouldn't be throwing too much mud in Palace's direction right now - it might come back with interest.

However start to look a deeper (not that much deeper ) and our business model is somewhat different. A new ground as a opposed to a crumbling hole, a new 40 acre state of the art training facility as opposed to a 12 acre village green with a pavilion and a double garage. I know which one I would prefer to have to sustain top level football in the future. Maybe in the very short term being able to sell a few youngsters shows a profit but that's not really sustainable.

 

[Guinness Boy]

I hate to say it, but they made a profit and got promoted. Hopefully they will **** it all up shortly.

Yep fair play. They got in to the Prem at exactly the right time too. It's TV and parachute bonanza time. Just as well as I don't think they have any 5 - 15 mill players left to save them now.

 

[keaton]

However start to look a deeper (not that much deeper ) and our business model is somewhat different. A new ground as a opposed to a crumbling hole, a new 40 acre state of the art training facility as opposed to a 12 acre village green with a pavilion and a double garage. I know which one I would prefer to have to sustain top level football in the future. Maybe in the very short term being able to sell a few youngsters shows a profit but that's not really sustainable.

But for both clubs the only way to be sustainable is selling players or getting to the Premier League. They have done both and will have parachute payments to tide them over even if they go down

 

[loz]

Some folks on here sound very bitter.

Every club has to sell products to make profit whether players or pies.

A lot of BHA fans seem to forget 3 years ago they were playing in a 70000 capacity athletics track and now are all high and mighty about older stadia, not just Palace but I have read on here about Watford, Sheff weds and even Liverpools ground all being shitholes and I am sure many many more, you should really look back only a few years, and enjoy what you have and not just slag everyone else off.

Anyway is it not great that Palace made a healthy profit for season 2012/13 ??

 

[Lady Whistledown]

However start to look a deeper (not that much deeper ) and our business model is somewhat different. A new ground as a opposed to a crumbling hole, a new 40 acre state of the art training facility as opposed to a 12 acre village green with a pavilion and a double garage. I know which one I would prefer to have to sustain top level football in the future. Maybe in the very short term being able to sell a few youngsters shows a profit but that's not really sustainable.

As has already been said, let's wait & see.


It's not as though selling players isn't a legitimate means of generating income, although £12 million (ha!) ones don't come around every season. The loss when you take that out of the equation sounds about what we'd expect?

 

[paulie]

Yep fair play. They got in to the Prem at exactly the right time too. It's TV and parachute bonanza time. Just as well as I don't think they have any 5 - 15 mill players left to save them now.

Yeah - Moses, Watson, Clynne, Zaha, Routledge. Just a flash in the pan and we're stuffed now.

How is Jake Robinson getting on btw?

 

[cardboard]

Some folks on here sound very bitter.

Every club has to sell products to make profit whether players or pies.

A lot of BHA fans seem to forget 3 years ago they were playing in a 70000 capacity athletics track and now are all high and mighty about older stadia, not just Palace but I have read on here about Watford, Sheff weds and even Liverpools ground all being shitholes and I am sure many many more, you should really look back only a few years, and enjoy what you have and not just slag everyone else off.

Anyway is it not great that Palace made a healthy profit for season 2012/13 ??

makes me wonder why we needed a new stadium!!

 

[Mellotron]

Yeah - Moses, Watson, Clynne, Zaha, Routledge. Just a flash in the pan and we're stuffed now.

How is Gareth Barry getting on btw?

Pretty well, thanks.