Palace lose £5.3 million on latest accounts.....

[sparkie]

Another administration again oh I forgot they have 4 or 5 billionaires on their board so whats £5m.

I believe it's only 4 'Billionaires'. 'Billionaires' who still didn't see fit to pay back the creditors fully when they they took over.

 

[supaseagull]

For some of you to wish administration on another team ... such short memories

Ignorant twats more like- whilst I don't have much sympathy for teams like Pompey, Palace are being gradually assett stripped and it's about the their fans woke up to this.

Id hate for palace to be threatened with liquidation and as the poster above says people are forgetting that we were, not long ago, in the same position.


Sent from my iPhone using the power of Greyskull

 

[Springal]

We've not filed anything recently, but last filed accounts, for June 2010, showed us -£4.7m on profit. I assume ours well get worse, before getting better.

 

[Return of the Rev]

Another administration again oh I forgot they have 4 or 5 billionaires on their board so whats £5m.

million each? the other 300k could be raised with a amex bucket collection

 

[Deleted member 22389]

We've not filed anything recently, but last filed accounts, for June 2010, showed us -£4.7m on profit. I assume ours well get worse, before getting better.

Yep. At the moment we are gambling on getting to the premiership this season by the looks of it. If we don't make it this season, I believe next season will be make or break for us.

 

[CHAPPERS]

Yep. At the moment we are gambling on getting to the premiership this season by the looks of it. If we don't make it this season, I believe next season will be make or break for us.

What? How are we gambling?

 

[ofco8]

We've not filed anything recently, but last filed accounts, for June 2010, showed us -£4.7m on profit. I assume ours well get worse, before getting better.

I should imagine that our results will not be good. However, the situation over past 15 years or so have been unique and am sure that all what has happened in last 5 years is factored into the overall expenditure of club in the construction of the stadium etc..

From going to Withdean with no way of generating income to Amex where
much bigger crowds, match day income etc.. will make a hell of a difference in future.

 

[Alex Alex Dawson oo! oo!]

Yep. At the moment we are gambling on getting to the premiership this season by the looks of it. If we don't make it this season, I believe next season will be make or break for us.

What are you on about?

 

[Alex Alex Dawson oo! oo!]

I should imagine that our results will not be good. However, the situation over past 15 years or so have been unique and am sure that all what has happened in last 5 years is factored into the overall expenditure of club in the construction of the stadium etc..

From going to Withdean with no way of generating income to Amex where
much bigger crowds, match day income etc.. will make a hell of a difference in future.

1) Just 15 years, unique? BHA hasn't turned in a profit since the mid-70's.
2) Factored in? The last 5 years (at least) of losses at Withdean were paid for by Tony Bloom and these "loans" have been progressively converted into newly issued equity (shares) in the club, the first tranch facilitated him becoming the majority shareholder in May 2009.
3) I think there's a rumour going about that the club itself didn't fund the stadium construction.

 

[Hillian1]

Ignorant twats more like- whilst I don't have much sympathy for teams like Pompey, Palace are being gradually assett stripped and it's about the their fans woke up to this.

Id hate for palace to be threatened with liquidation and as the poster above says people are forgetting that we were, not long ago, in the same position.


Sent from my iPhone using the power of Greyskull

I prefer Ethical Twat to Ignorant Twat, but each to their own.

And I couldn't give a monkeys if the pikeys were liquidated after being in Administration twice.

 

[Tony Meolas Loan Spell]

No administration here mate. We pay our bills. Unlike you, you thieving scum

THIS

FOR ALL THE PALACE THICKTARDS (and lesser extent Pompey) WE NEVER EVER EVER EVER WENT INTO ADMIN

AND ALL OUR BILLS WERE PAID. YES THE KNOCK ON EFFECT WAS THAT WE WERE ARGUABLY SHIT FOR YEARS BUT AT LEAST WE LIVED WITHIN OUR MEANS UNLIKE YOU WANKERS WHO CHASED THE DREAM AND LOST.

 

[Tony Meolas Loan Spell]

I believe it's only 4 'Billionaires'. 'Billionaires' who still didn't see fit to pay back the creditors fully when they they took over.

Oh and THIS. At least Southamptons f***ing cleared their bills IN FULL.

 

[Hillian1]

THIS

FOR ALL THE PALACE THICKTARDS (and lesser extent Pompey) WE NEVER EVER EVER EVER WENT INTO ADMIN

AND ALL OUR BILLS WERE PAID. YES THE KNOCK ON EFFECT WAS THAT WE WERE ARGUABLY SHIT FOR YEARS BUT AT LEAST WE LIVED WITHIN OUR MEANS UNLIKE YOU WANKERS WHO CHASED THE DREAM AND LOST.

This, with bells on.

I was beginning to think it was just me who thinks they should not even be alive as a club, let alone one who boasts that they've been above us for 26 years.

There was a reason, WE PAID OUR BILLS.

 

[Gazwag]

Yep. At the moment we are gambling on getting to the premiership this season by the looks of it. If we don't make it this season, I believe next season will be make or break for us.

You DO realise we have moved from Withdean to the Amex don't you

 

[El Presidente]

This, with bells on.

I was beginning to think it was just me who thinks they should not even be alive as a club, let alone one who boasts that they've been above us for 26 years.

There was a reason, WE PAID OUR BILLS.

I loathe Palace but this smug rewriting of history is bollocks.

The Albion came to an agreement with some creditors in the mid-90's, and relied on their goodwill and accepting a payment in the pound to keep us afloat.

'We' didn't pay our bills, Tony Bloom did.

 

[seagullsovergrimsby]

Accountants please, but over 4 million of the loss was due to "goodwill impairment" ?

Does that mean that something was intangible and valued has had it's value corrected ?

For instance "Palace Brand" was valued at 10 million and now valued at 6 ?

Or something they had valued isn't given a value anymore ?

So they only technically had a loss of 1 million.. and as they spent 1.5 million on improvements at Selhurst, doesn't look like a particularly bad year for a Championship football club.

In other words CPFC2010 paid £4M too much to buy the club.

 

[Hillian1]

I love Palace and will defend them to the hilt, this smug rewriting of history is bollocks.

The Albion came to an agreement with some creditors in the mid-90's, and relied on their goodwill and accepting a payment in the pound to keep us afloat.

'We' didn't pay our bills, Tony Bloom did.

Edited your post for you.

 

[Mellotron]

I believe it's only 4 'Billionaires'. 'Billionaires' who still didn't see fit to pay back the creditors fully when they they took over.

Sound like lovely blokes, definitely the shady sorts I'd want running my club.




What?

 

[Mellotron]

Yep. At the moment we are gambling on getting to the premiership this season by the looks of it. If we don't make it this season, I believe next season will be make or break for us.

What on earth are you on about? We've never been more stable in our entire history!

 

[Weststander]

Accountants please, but over 4 million of the loss was due to "goodwill impairment" ?

Does that mean that something was intangible and valued has had it's value corrected ?

For instance "Palace Brand" was valued at 10 million and now valued at 6 ?

Or something they had valued isn't given a value anymore ?

So they only technically had a loss of 1 million.. and as they spent 1.5 million on improvements at Selhurst, doesn't look like a particularly bad year for a Championship football club.

In hard cash, £4m cash was expended previously by the club on either transfer fees, brand, or goodwill, and that £4m element has unexpectedly now become worthless. Giving a one-off paper loss in the latest accounts, but ultimately £4m in cash down the swanny.