CPFC and money

[Seagull on the wing]

Jesus, some of you people are bitter

Yesterday, play-offs were a certainty, automatic promotion a possibility, Palace were going to implode etc etc blah blah blah.

Not one shot against the bottom of the table whipping boys , Palace turned over Hull. Oh I know how can we now get at Palace considering we cannot compete in the table? oh I know lets say they will go into administration again

Who won their last four home games......

 

[Seagull on the wing]

You made a £8million loss.

And so did you.....

 

[Glenn-Murray]

you shouldnt worry about the £8m (book keeping) debt we know we have, you should worry about the unknown debts you have.

We don't have any debt. There is nothing unknown about our current financial position. CPFC2010 put in £3/4m a year of their own cash to make up the difference between our income and our expenditure, but that has been offset by player sales. We got £3m for Clyne, we sold Scannell and Ambrose for a combined £1m-ish, and we've just sold Zaha for a bare minimum £10m that could rise to over £20m with addons.

Don't worry about the finances at Palace. Oh, and if we get promotion this season (looking like a very real possibility) then we'll have upwards of £60m poured into the club from the Premier League!

Looking very healthy both on and off the pitch at the moment.

And so did you.....

Not sure what this is supposed to mean. Our losses last year were less than half of yours.

 

[beorhthelm]

We don't have any debt. There is nothing unknown about our current financial position. CPFC2010 put in £3/4m a year of their own cash to make up the difference between our income and our expenditure

so you acknowledge theres a deficit building up, with nothing going on investment for the future. its good if that can be offset by a few player sales, but thats not a solid/predictable business model. shame you havent invested that Zaha money in the playing side but used it to pay back the owners, as you indicate. question is how much does the debt go up when a stand is closed? what happens if theres no player to sell next season? of course, if the land of the Premeirship is reached, it will be milk and honey, will it last though?

 

[The_Viper]

This is the most embarrassing thread I have seen on here in a long time. Albion fans entertaining Palace fans and Palace fans almost outnumbering BHA fans on a BHA messageboard. When you have enough time to peruse your main RIVALS messageboard, I suggest you find yourself a job.

 

[FinchleyEagle]

This is the most embarrassing thread I have seen on here in a long time. Albion fans entertaining Palace fans and Palace fans almost outnumbering BHA fans on a BHA messageboard. When you have enough time to peruse your main RIVALS messageboard, I suggest you find yourself a job.

Get an away section, or stop creating threads about Palace. Up to you.

 

[EDS]

This is the most embarrassing thread I have seen on here in a long time. Albion fans entertaining Palace fans and Palace fans almost outnumbering BHA fans on a BHA messageboard. When you have enough time to peruse your main RIVALS messageboard, I suggest you find yourself a job.

It was so embarrassing you just had to comment and add to it. As for jobs I have a few that need filling, would you like to apply? then again we already have a teaboy, but I will keep your CV on file.

 

[Glenn-Murray]

so you acknowledge theres a deficit building up, with nothing going on investment for the future. its good if that can be offset by a few player sales, but thats not a solid/predictable business model. shame you havent invested that Zaha money in the playing side but used it to pay back the owners, as you indicate. question is how much does the debt go up when a stand is closed? what happens if theres no player to sell next season? of course, if the land of the Premeirship is reached, it will be milk and honey, will it last though?

Well done for completely misinterpreting.

There is no deficit building up.

We are trying to build a new stadium, does that not count as investing for the future?

We will be investing the majority of the Zaha money back into the playing squad in the summer according to CPFC2010. There was no value for money in the January transfer window so we'll be spending the Zaha dosh in the summer once we know what division we're in.

The debt won't go up if a stand is closed. The attendance will remain the same, we'll just start selling out the Arfur instead.

Because of our academy there will always be players to sell. The next one to outgrow us and be sold to a top 4 Premiership club will be Jon Williams who could well the best one yet. The tabloids tomorrow are running the story that Mancini has been watching him and has appointed David Platt to watch him ahead of a bid to sign him in the summer. I doubt he'll leave for another couple of years but after him there will be Reise Allesani who City have been trying to sign for some time as well.

 

[seagullsovergrimsby]

so you acknowledge theres a deficit building up, with nothing going on investment for the future. its good if that can be offset by a few player sales, but thats not a solid/predictable business model. shame you havent invested that Zaha money in the playing side but used it to pay back the owners, as you indicate. question is how much does the debt go up when a stand is closed? what happens if theres no player to sell next season? of course, if the land of the Premeirship is reached, it will be milk and honey, will it last though?

No promotion = the next Pompey , or promotion = the next Pompey and Rangers combined.

 

[Red'n'Blue]

And so did you.....

No we didn't but that's not the point.

 

[seagullsovergrimsby]

Well done for completely misinterpreting.

There is no deficit building up.

We are trying to build a new stadium, does that not count as investing for the future?

We will be investing the majority of the Zaha money back into the playing squad in the summer according to CPFC2010. There was no value for money in the January transfer window so we'll be spending the Zaha dosh in the summer once we know what division we're in.

The debt won't go up if a stand is closed. The attendance will remain the same, we'll just start selling out the Arfur instead.

Because of our academy there will always be players to sell. The next one to outgrow us and be sold to a top 4 Premiership club will be Jon Williams who could well the best one yet. The tabloids tomorrow are running the story that Mancini has been watching him and has appointed David Platt to watch him ahead of a bid to sign him in the summer. I doubt he'll leave for another couple of years but after him there will be Reise Allesani who City have been trying to sign for some time as well.

If the Health and Safety Executive spring a surprise visit it maybe 2 or possibly 3 stands that are condemned not 1

 

[Mr Putdown]

Umm...you are about to post a 8m loss. Which would make it a 2nd year running. Money you do not have..

99% of league clubs operate at a loss...you included. Even with your wonky warehouse. Its the norm, such is the modern game unfortunately.

Goldberg was a chancer. We got lucky that he didn't send us to the wall. He was a very rich man, and at a time football was just seeing the benefits of all this Sky money. Dot com boom was at its peak. He thought he couldn't lose. Dot com bubble burst. His net wealth disappeared overnight. He had offset everything against his wealth, which almost disappeared. A fellow durector became suspicious, went over the accounts realised what was happening and called the administrators straight away. 50 hard working staff were out of a job in 48hrs. The ground wasn't sold off like yours because our 'mate' noades sold it to his own company for about 350k in the 80's. We didnt own it anyway.

Jordan was a mini-bloom... not as wealthy and put money into the club via loans. Bloom is up to £116m now isnt he? Jordan was £25m.. and that was over alomst ten years.. The fact is we were PLACED in admin by a secured creditor. Instead of his 3m loan back, he barely got 200k back. Jordan lost 90% of his 25m. Total other debts were about 2-3m. Didnt know you cared about him so much.

The original poster cannot understand how you get more fans in than us yet, we can 'get players in'. Its not about turnover, its about margin. You get more money in than us, yet still are posting an 8m loss. means you are spending too much. On top of the ground debt. Its in your accounts.. Nothing wrong with that as such.

Tell me who is the club spending more than they are getting in? Our four owners are bank rolling our club at a sustainable level. Zaha money will keep it sustainable, they want palace, paying for itself and not in the state they found it in.

Ignoring the mini dig in the opening sentence, that's a good post.

I read an interesting post elsewhere on here by someone who pointed out the value of your 20-28K crowds compaired to our 15-19k with regard to FFP and I agree he was spot on. IIRC he calculated that the annual additional revenue to B&HA over Palace was in the region of £4 million and that is a huge advantage.

But is it? To the best of my knowledge, Palace have lost around £4m a year whereas it has been published by Brighton that they've lost £8m a year since you moved to Falmer. If that's the case then it suggests that, assuming our salary costs are not dissimilar, then there may not necessarily be any advantage in the additional £4m revenue generated by Falmer & its excellent facilities, if it's going to be all absorbed by costs.

As I see it, from a FFP perspective, we're a lot closer than it might look at first sight.

 

[beorhthelm]

Well done for completely misinterpreting.

There is no deficit building up.

We are trying to build a new stadium, does that not count as investing for the future?

We will be investing the majority of the Zaha money back into the playing squad in the summer according to CPFC2010. There was no value for money in the January transfer window so we'll be spending the Zaha dosh in the summer once we know what division we're in.

The debt won't go up if a stand is closed. The attendance will remain the same, we'll just start selling out the Arfur instead.

Because of our academy there will always be players to sell.

oh dear, such confusion. i didnt misinterpret anything, i took what you said at face value. losing 3-4m a year, funded by CPFC2010, is a deficit. you are contradicting yourself, if they arent getting repaid then those loans/debts stand. if the money from Zaha is going on sqaud it cant be paying them, or going on the stadium. and if you are planning to sell academy players, why invest in the playing side anyway when selling the best players on? the idea is to keep those academy players you know, selling them is a long term failure even if it props you up for a season or two.

 

[EddieReader]

Lots of MurrayMint posting on here. I think U've upset him.

 

[TheMajor]

If the Health and Safety Executive spring a surprise visit it maybe 2 or possibly 3 stands that are condemned not 1

Why worry ? - there's no one in them.

 

[Sweeney Todd]

Yes, we posted a loss of £8 million, because the club is repaying money owed to Tony Bloom. That is called investment…and it’s investment in the infrastructure of the club.

Compare that model with the way that Palace wasted millions on players that they could not afford, during the Goldberg-Jordan years. I assume that the money was spent on players, because I cannot see where else it went.

 

[nwgull]

Yes, we posted a loss of £8 million, because the club is repaying money owed to Tony Bloom. That is called investment…and it’s investment in the infrastructure of the club.
Compare that model with the way that Palace wasted millions on players that they could not afford, during the Goldberg-Jordan years. I assume that the money was spent on players, because I cannot see where else it went.

Capital repayments of debt do not count against profit/loss.

 

[5 Zero]

No promotion = the next Pompey , or promotion = the next Pompey and Rangers combined.

Why make up lies Grimbo, it just makes you seem jealous and bitter. If we don't go up we are still in a good place financially, these new owners are the complete opposite to Jordan and Goldberg.

 

[cjd]

I,m not sure why so many people think that once the 'Promised Land' of the Premiership is reached that the increased income (? upwards of £60 million according to Glenn-Murray) will solve all financial problems.

Since the Premier League was founded, just 20 years ago, these are the clubs who, having been Premier League members, have gone into administration/CVA;.....

Swindon

Barnsley

Bradford City

Hull City

Oldham

Crystal Palace....twice

Ipswich Town

Derby County

Portsmouth.....three times

Leicester City

Charlton Athletic (albeit before the Premier league was founded)

Wimbledon

Southampton

Middlesbro

Leeds Utd

QPR

Add to these, those clubs either in massive and unsustainable debt......or required dubious 'foreign' investors to 'save' them from administration;.....

Watford

Nottingham Forest

Birmingham

Coventry City

Bolton

Blackburn.




Doesn't paint a pretty picture.

 

[fosters headband]

oh dear, such confusion. i didnt misinterpret anything, i took what you said at face value. losing 3-4m a year, funded by CPFC2010, is a deficit. you are contradicting yourself, if they arent getting repaid then those loans/debts stand. if the money from Zaha is going on sqaud it cant be paying them, or going on the stadium. and if you are planning to sell academy players, why invest in the playing side anyway when selling the best players on? the idea is to keep those academy players you know, selling them is a long term failure even if it props you up for a season or two.

The Palace fans keep going on about the money owed to Tony Bloom for the stadium. How this outlay will be our financial downfall, but when you ask them to explain where the money is coming from for their own new stadium there is total silence.
Have CPFC2010 got enough money to build it?
Not one Palace fan has an answer to where the funds are coming from and IF if their board are to finance it, why is that any different to our situation?

Parish has been very clear on the desperate need for Palace to have this new stadium or the complete refurbishment of Selhurst, but he has never explained the financing of the project. To me it has always been a major PR job on his part and nothing else.