Winifred Zahaha £4M?

[seagullsovergrimsby]

As a season ticket holder,who had renewed for the following season,i was a creditor. But like all the other season ticket holders,we waived our rights to a refund ( only small i know) By our actions, the list of creditors was reduced significantly,thus allowing the club to exit administration.
As a goodwill gesture,CPFC 2010 honoured ALL season tickets pre sold, costing them around £4/5 million ( ALLEDGEDLY !!!)

CPFC2010 had to honour the multi season STH's otherwise the attendances would have plummeted by at least a couple of thousand each game. All they've done is written off any income that would have been generated but already spent by the previous owner.

 

[making plans for nigel]

Have BHAFC been in administration?

That wasn't the question, read it again.

 

[seagullsovergrimsby]

Back in 1997, lots of money was owed by BHAFC to local businesses. Its my understanding that an offer was made to these companies by BHAFC, that was far less then that was due. They were " persuaded " by BHAFC to accept this offer, which they agreed to in the end.Now if this was a ploy by Archer to line his pockets, i don't know,but the facts are that local companies WERE shortchanged by BHAFC/ Archer.
Now im not claiming this story is 100% fact, or even 90% ( here i go again),but if its true, thats certainly a blot of your whiter then white financial history, isn't it ?
"OUR LOT" have been accused of shabbily treating our local businesses and communities, but your alledged treatment of local companies, years prior to us, have slipped under the radar for some reason .
Now if anyone can put meat on the bones to this story, im all ears.
Cheers
Nigel

Back in 1997 Archer and his cronies wanted to choke the club to death and get hold of any remaining assets once the club had folded and creditors been paid out. The constitution and articles of the club were altered in secret so that they would benefit whereas previously any monies left over would have gone to Sussex based sporting associations. Luckily for us they were found out before they killed our club. 15 years ago we were scraping along and on the verge of being bankrupt so creditors were offered a settlement price as an alternative to getting nothing at all. The club would have been wound up , there wasn't an option of going into administration.

 

[making plans for nigel]

Back in 1997 Archer and his cronies wanted to choke the club to death and get hold of any remaining assets once the club had folded and creditors been paid out. The constitution and articles of the club were altered in secret so that they would benefit whereas previously any monies left over would have gone to Sussex based sporting associations. Luckily for us they were found out before they killed our club. 15 years ago we were scraping along and on the verge of being bankrupt so creditors were offered a settlement price as an alternative to getting nothing at all. The club would have been wound up , there wasn't an option of going into administration.

So it was Archer and his cronies who forced the various companies hands and forced them to accept the offer on the table, a like it or lump it offer ? So it was the owner at the time and not BHAFC and all who sail in her ?
Bearing that in mind, would i be right in thinking that CPFC's 2 administrations were due to mis managements by the 2 owners at the time, and not CPFC and all who sail in her ?
If the creditors refused the offer,and BHAFC went into administration or worse bankruptcy,we wouldn't be having this stupid argument about clubs owing monies to local businesses.

 

[Triggaaar]

I believe the total debt was in the region of £25million. I see Jordan was allowed to vote with a £1.9million debt......not quite 90%, the 'all informative and lecturing' Making Plans for Nigel, led us to believe.

So Nigel, was 90% owed to Jordan, or just £1.9 million?

Archer was just a crook trying to take our ground - quite different to clubs that have achieved league position / cup glory by spending money that wasn't theirs.

 

[Triggaaar]

Bearing that in mind, would i be right in thinking that CPFC's 2 administrations were due to mis managements by the 2 owners at the time, and not CPFC and all who sail in her ?

As I've already said, it's not the fault of Palace fans, but it is due to the reckless unsustainable spending that Palace stayed in the top 2 divisions, and went into admin twice.

 

[making plans for nigel]

So Nigel, was 90% owed to Jordan, or just £1.9 million?

Archer was just a crook trying to take our ground - quite different to clubs that have achieved league position / cup glory by spending money that wasn't theirs.

£7.8 million according to cjd, percentage wise, im not good at those !!!

 

[upthealbion1970]

That wasn't the question, read it again.

Have BHAFC been in administration? Yes or no answer that even you should be able to answer.

 

[making plans for nigel]

As I've already said, it's not the fault of Palace fans, but it is due to the reckless unsustainable spending that Palace stayed in the top 2 divisions, and went into admin twice.

I understand all that,but why should CPFC 2010 be held accoutable and pay back all monies to the creditors ? Going by that logic,should TB pay back all the monies owed to the companies back in 1997, as a goodwill gesture ??
Of course not, he's not responsible for Archers f**k ups, is he ?

 

[Triggaaar]

I understand all that,but why should CPFC 2010 be held accoutable and pay back all monies to the creditors ? Going by that logic,should TB pay back all the monies owed to the companies back in 1997, as a goodwill gesture ??
Of course not, he's not responsible for Archers f**k ups, is he ?

I really don't know who was owed money back in 97, but that's not when TB took over, and he didn't buy the club at rock bottom price and make them a 2p/£ offer, so it's not really comparable.

 

[Acker79]

Also, on realising what crooks they were, the fans forced Archer and Belotti out of the club, kinda blowing a hole in the "we're just fans, what can we do about the owners?" argument.

 

[seagullsovergrimsby]

So it was Archer and his cronies who forced the various companies hands and forced them to accept the offer on the table, a like it or lump it offer ? So it was the owner at the time and not BHAFC and all who sail in her ?
Bearing that in mind, would i be right in thinking that CPFC's 2 administrations were due to mis managements by the 2 owners at the time, and not CPFC and all who sail in her ?
If the creditors refused the offer,and BHAFC went into administration or worse bankruptcy,we wouldn't be having this stupid argument about clubs owing monies to local businesses.

The Football League didn't care if we went bust or not as they were holding a £500k non refundable bond. The creditors accepted the offer on the basis it was that or nothing as the Inland Revenue would eventually be successful in a winding up order. The club couldn't have gone into administration because they would not have been able to operate as a going concern.

 

[making plans for nigel]

The Football League didn't care if we went bust or not as they were holding a £500k non refundable bond. The creditors accepted the offer on the basis it was that or nothing as the Inland Revenue would eventually be successful in a winding up order. The club couldn't have gone into administration because they would not have been able to operate as a going concern.

As with CPFC's creditors, they had to accept the offer on the table,or get nothing.
Either way, businesses went without their money, so if we have to accept the guilt, so must you, surely ?

 

[Mackenzie]

As a season ticket holder,who had renewed for the following season,i was a creditor. But like all the other season ticket holders,we waived our rights to a refund ( only small i know) By our actions, the list of creditors was reduced significantly,thus allowing the club to exit administration.
As a goodwill gesture,CPFC 2010 honoured ALL season tickets pre sold, costing them around £4/5 million ( ALLEDGEDLY !!!)

They couldn't do much else could they. Those multi season ticket holders were Palace's biggest fans, making a long (10 year?) commitment of support....the fall out from not honouring those tickets would have been horrendous at the start of the new ownership.

 

[making plans for nigel]

They couldn't do much else could they. Those multi season ticket holders were Palace's biggest fans, making a long (10 year?) commitment of support....the fall out from not honouring those tickets would have been horrendous at the start of the new ownership.

Thats true, if i remember correctly, about 2000 had long term deals, and the rest were for the following season.
They couldn't do much else as you say,but it was a nice gesture all the same.

 

[making plans for nigel]

I really don't know who was owed money back in 97, but that's not when TB took over, and he didn't buy the club at rock bottom price and make them a 2p/£ offer, so it's not really comparable.

How much did TB buy the club for ? I thought it was given to him !

 

[Acker79]

How much did TB buy the club for ? I thought it was given to him !

As I understand it, shares in the club are how the club are re-paying him for funding the Amex. So, I guess he bought the club for 90+m. I'm sure someone else will correct me if I'm wrong.

 

[cjd]

How much did TB buy the club for ? I thought it was given to him !

As a Crystal Palace supporter, you would do well to research your own clubs financial history ( which is clearly very, very poor on your account).......... long before you take an interest in other clubs.

Learn to walk before you try to run.

 

[making plans for nigel]

As a Crystal Palace supporter, you would do well to research your own clubs financial history ( which is clearly very, very poor on your account).......... long before you take an interest in other clubs.

Learn to walk before you try to run.

Im glad you're here cjd, could you do a detailed list of the creditors and amounts, owed and paid, by BHAFC in 1997 please.It shocking how those companies were left out of pocket.

 

[cjd]

Im glad you're here cjd, could you do a detailed list of the creditors and amounts, owed and paid, by BHAFC in 1997 please.It shocking how those companies were left out of pocket.

Actually..no. This is a Brighton and Hove Albion forum for Brighton fans........not a Question & Answer site for any passing gypsies in their caravans from other clubs.

PS: In any case, there would be no point, as with so many of you Crystal Palace supporters you have a complete inability to retain any financial information from the past.