Palace go into administration...

[Deportivo Seagull]

Yeah, that's what worries me, especially the bit I've highlighted. Obviously I want to see you suffer: lose Selhurst Park, share with Gillingham, then have a temporary home at somewhere like Croydon Aerodrome with crowds of 6000 before finally, eleven years later, moving into a lovely new stadium in Crystal Palace park. However it only seems to be the smaller clubs who suffer the worst fates (Aldershot, Maidstone Utd and Newport County for example). When clubs roughly the size of Palace (such as Leicester, Leeds and Southampton) go into Administration the worst case scenario always seems to be avoided: they'll be a bit of financial jiggery-pokery behind the scenes, papers will get shuffled, arcane financial rules and devices will be invoked and, voila! A new Palace will emerge, fitter and stronger than before. Maybe with a load of pissed-off creditors who've had to accepot tuppence in the pound, but that's football for you.
QUOTE]

The difference between Leicester Leeds etc is that the football club owns the ground which after all is the only real asset a football club has.
Palace need a DK and TB of their very own if they are going to be viable, otherwise it's going to be a very, very unpleasant ride ....

Like most others on here I certainly don't want Place to go out of business, BUT .... Administration ... Life can be very sweet sometimes ....

 

[hitony]

Originally Posted by sir albion
My opinion back then was that i wanted zero help from palace but that was my view and many on here will agree with you.

Til the day i die i would never ask for any help from palace fans

What an incredibly small-minded and childish view. Grow up.

I think the poster, "sir albion" has taken football banter with Palace to a differant level, quite clearly to a hatred level, and any good that many Palace fans have done towards REMF or supporting Falmer etc means absolutly nothing at all.

In my opinion that is a shame, but maybe he has his personal reasons for being that way

 

[Brovion]

The difference between Leicester Leeds etc is that the football club owns the ground which after all is the only real asset a football club has.
Palace need a DK and TB of their very own if they are going to be viable, otherwise it's going to be a very, very unpleasant ride ....

Like most others on here I certainly don't want Place to go out of business, BUT .... Administration ... Life can be very sweet sometimes ....

Yeah, I know the current club/PLC/Holding Company/Whatever don't actually own Selhurst Park but SOMEBODY does - and by the sound of it that somebody may well be Ron Noades. A bit of, as I say, jiggery-pokery with Noades in the background and the 'new' Palace emerges with the club and the ground in the ownership of the new club.

Indeed I could make a case that it's the best thing for Palace that the current club/PLC/Holding Company/Whatever DOESN'T own the ground as it means the Administrator can't sell it from under them. Could have been a worry, especially as the Administration has apparently been brought on by a creditor as opposed to Palace doing it themselves.

 

[clapham_gull]

The difference between Leicester Leeds etc is that the football club owns the ground which after all is the only real asset a football club has.

I'm not sure it was very clear at all who owned Elland Road when Leeds got into financial trouble, it definately wasn't the football club.

 

[User removed 4]

I'm not sure it was very clear at all who owned Elland Road when Leeds got into financial trouble, it definately wasn't the football club.

i'm pretty sure it was council owned.

 

[clapham_gull]

i'm pretty sure it was council owned.

Depends at what period.

Leeds sold the ground to the council in 82, but bought it back in 1998.

After that it was at some point (I think before Bates) sold off and leased back, changing ownership at least once.

When Leeds fell into administration I'm pretty sure it was some offshore entity. Couldn't have been the council because thet were trying to find out who owned the ground themselves.

There was questions over the ownership for a few years. I think the club have finally bought it back.

 

[User removed 4]

Pretty sure it was some offshore entity. Couldn't have been the council because thet were trying to find out who owned the ground themselves.

There was questions over the ownership for a few years. I think the club have finally bought it back.

is this during ken bates tenure ?? there was always massive secrecy over who owned what shares in chelsea fc etc when the dodgy **** was owner.

 

[Questions]

Yeah, that's what worries me, especially the bit I've highlighted. Obviously I want to see you suffer: lose Selhurst Park, share with Gillingham, then have a temporary home at somewhere like Croydon Aerodrome with crowds of 6000 before finally, eleven years later, moving into a lovely new stadium in Crystal Palace park. However it only seems to be the smaller clubs who suffer the worst fates (Aldershot, Maidstone Utd and Newport County for example). When clubs roughly the size of Palace (such as Leicester, Leeds and Southampton) go into Administration the worst case scenario always seems to be avoided: they'll be a bit of financial jiggery-pokery behind the scenes, papers will get shuffled, arcane financial rules and devices will be invoked and, voila! A new Palace will emerge, fitter and stronger than before. Maybe with a load of pissed-off creditors who've had to accepot tuppence in the pound, but that's football for you.

And if you get away with just selling Moses and maybe one other then I for one hope you DON'T get relegated simply because of points deductions. The fact is you're play-off contenders in the Championship. If you put the bulk of that Palace team in our division it would be too strong for most sides - including us.

So I'm not celebrating the news of your Administration just yet - but for different reasons!

I agree whole heartedly with your opening comments but the reason they are play off contenders is that they have bought and paid players but not paid their other debts and now those people will suffer.

That in my mind is cheating and blatantly dishonesty. You have to live within your means and if that dictates that you plod along without any real chance of challenging for the Prem then thats the way things go.

IT IS like Brovian says though........... a bit of paper shuffling like what happened at Leeds and f*** everyone else.
Automatic relegation to the non-leagues if you start again as a new company............

I mean
ITS A BUSINESS....RIGHT ?

If you cannot honour the debts, dont take the standings. Re-form like Aldershot had to.

 

[clapham_gull]

is this during ken bates tenure ?? there was always massive secrecy over who owned what shares in chelsea fc etc when the dodgy **** was owner.

You probably need to speak to a Leeds fan but I think the ground was sold off prior to Bates to raise cash.

It was then bounced around, I seem to recall a press release under Bates that although the ground was sold (again) the terms of the lease remained the same.

I think it eventually ended up under the ownership of "Teak Corporation" or something based in the Caymen Islands.

There was always secrecy surrounding the ownership. Possibly wrong, but I think that entity was the preferred creditor and pushed the balance towards Bates being able to buy back the club again ?

 

[Sheebo]

In all fairness this is harsh news. Palace didn't do the same as Leeds and gie ridiculous wages and spend ridiculous money they haven't got...

It's a shame when things off the pitch affect football I'm sure most real Palace fans would have felt for us when we lost the GStonecos it's harsh...

I may have the wrong idea about this...?

 

[beorhthelm]

You probably need to speak to a Leeds fan but I think the ground was sold off prior to Bates to raise cash.

It was then bounced around, I seem to recall a press release under Bates that although the ground was sold (again) the terms of the lease remained the same.

I think it eventually ended up under the ownership of "Teak Corporation" or something based in the Caymen Islands.

There was always secrecy surrounding the ownership. Possibly wrong, but I think that entity was the preferred creditor and pushed the balance towards Bates being able to buy back the club again ?

thats sounds about right, with the prefered creditor swing the vote in favour of Bates derisory offer. then the mysterious company sells the ground to Bates. funny that.

 

[clapham_gull]

In all fairness this is harsh news. Palace didn't do the same as Leeds and gie ridiculous wages and spend ridiculous money they haven't got...

It's a shame when things off the pitch affect football I'm sure most real Palace fans would have felt for us when we lost the GStonecos it's harsh...

I may have the wrong idea about this...?

They've definately spent money they didn't have else they wouldn't be in this situation.

 

[Sheebo]

The thing with clubs finances is I likeo think i'm not THICK - BUT I don't have a bloody clue what half the terms actually mean!

 

[clapham_gull]

The thing with clubs finances is I likeo think i'm not THICK - BUT I don't have a bloody clue what half the terms actually mean!

Best thing you can do is read up on a nice complicated tale of woe like Leeds.

That's got everything CVA, administration, Golden Share, preferred creditors, offshore entities, ground being separated from club, points deduction leading to rule change, further points deduction. It's a rollacoaster on a general downwards slide.

The other ones are quite simple in comparision.

 

[Brovion]

In all fairness this is harsh news. Palace didn't do the same as Leeds and gie ridiculous wages and spend ridiculous money they haven't got...

It's a shame when things off the pitch affect football I'm sure most real Palace fans would have felt for us when we lost the GStonecos it's harsh...

I may have the wrong idea about this...?

At the end of the day that's exactly what they did - spent money they didn't have. If they'd lived within their means they'd be a lot lower league-wise than they are now but they'd be solvent

You're right, it's not directly the fault of the Palace fans, I mean how many fans ever protest that their chairman is spending 'too much'? It's always the other way round. The problem is that one club lives beyond its means to try and 'live the dream' and in order to keep up others feel they have to as well - especially if they've got fans shouting "Come on Mr Chairman, get your wallet out!" (So indirectly fans ARE to blame!) Wages spiral upwards and financial problems get transmitted from club to club like a type of virus.

 

[pork pie]

What an incredibly small-minded and childish view. Grow up.

What a complete tosser you are! This is f***ing Palarse we are talking about - the guy has it spot on! Or did you not support us in the 70s?

 

[itszamora]

What a complete tosser you are! This is f***ing Palarse we are talking about - the guy has it spot on! Or did you not support us in the 70s?

Yes, but Palace have to exist in order for us to hate them.

 

[Marshy]

I must be out of the loop here but i thought Jordan got hold of Selhurst Park years ago and owns it, everyone is saying they dont own Selhurst Park is that right ?
If thats true they really are in deep sh*t.

 

[johnnyrocketpants]

Blimey! In a couple of years time we could be playing Palace away at the Withdean.
I hope they sort out the view.

 

[clapham_gull]

I must be out of the loop here but i thought Jordan got hold of Selhurst Park years ago and owns it, everyone is saying they dont own Selhurst Park is that right ?
If thats true they really are in deep sh*t.

Nope, alot of people assumed it was bought back at the time.

It was actually acquired by a third party and rented back to the club with an option to buy (I think).

The company which bought the ground subsequently went into administration.

This explains it - about half way down

http://www.guardian.co.uk/sport/blog/2008/oct/01/crystalpalace