Palace make £7m loss in 2016

[El Presidente]

Despite being in the FA Cup final and receiving £78 million in TV money (the Albion earned less than £6m in the Championship), our chums up the road still lost £140,000 a week last season. This would have been a much higher loss had it not been for the sales of Glenn Murray, Jack Hunt and Barry Bannon, which generated a profit of £9 million.

It highlights that small clubs in the Premier League still struggle to make money, even if they have a good cup run.

Their wage bill was higher than that of Premier League Champions Leicester City.

Palace generated over £100,000,000 in revenue last season, and of that, spent £109,000 on new cladding at Selhurst.

 

[SeagullofMalaysia]

 

[The red pepper kid]

shit happens to tw*ts

 

[Hamilton]

How the... What the... OMG !!!


Sent from my iPhone in a non-Calde world :-(

 

[Deleted member 2719]

Is that a 20% increase in salaries who let Pardew have the Cheque book!

 

[clarkey]

So a rough working gives you an average salary per employee of £415k pa. Not bad. Up 14% year on year.

121 players, managers, and coaches sounds like an awful lot.

 

[El Presidente]

One of the directors trousered £692,000 too...which is nice.

 

[deletebeepbeepbeep]

So a rough working gives you an average salary per employee of £415k pa. Not bad. Up 14% year on year.

121 players, managers, and coaches sounds like an awful lot.

They needed the squad for their assualt on the Europa League.

 

[Hotchilidog]

That really takes some doing.... chapeau chaps.

 

[Deleted member 2719]

Have you got any financials on those sailorboys tax dodgers in Hampshire

It would nice to know how responsible they are being!

 

[wellquickwoody]

Overspent on the cladding if you ask me.

 

[El Presidente]

Have you got any financials on those sailorboys tax dodgers in Hampshire

It would nice to know how responsible they are being!

Pompey or Stains? The latter posted their accounts today too, as well as the small club in South London.

 

[cjd]

One of the directors trousered £692,000 too...which is nice.

Plus an added £95,000 for social security costs.

For a total of £787,000 he presumably has run a very tight ship. How much of that was spent on his hairdresser and tanning shop ?

 

[clarkey]

One of the directors trousered £692,000 too...which is nice.

Reckon it was one of the US lot? Given none of the directors in 2015 took anything and Parish is now the only common denominator with the 2015 directors.

 

[Pavilionaire]

This really is splendid news. No surplus cash for their much-needed new stadium as the Selhurst cracks gets wider.

 

[clarkey]

Did we know that Parish is a Director of a company called Smoke and Mirrors Group Ltd?

Always the sort of name to give you a confidence in a man's integrity.

 

[El Presidente]

Reckon it was one of the US lot? Given none of the directors in 2015 took anything and Parish is now the only common denominator with the 2015 directors. Or Parish cashing in before he's eventually given the boot?

I wouldn't like to guess.

There are some unusual transactions with companies controlled by the directors though. One is called Smoke and Mirrors Ltd (controlled by Parish) which rents some property to Palace for £78,000, and the other sold wine for £58,000 (presumably for hospitality etc) and is controlled by Steve Browett.

 

[Tom Bombadil]

. This would have been a much higher loss had it not been for the sales of Glenn Murray, Jack Hunt and Barry Bannon, which generated a profit of £9 million.

What are operating expenses on player trading?

 

[KZNSeagull]

So they must have failed the "only spending 55% of tv revenue on wages rule" then? Can they expect enormous sanctions as a result? I would imagine the answer will be no, which is a great shame.

 

[Mr Putdown]

I'm surprised that someone of el presidente's expertise in theses matters thinks that palace lost £7m when the figures he attached clearly show the loss to actually be £5.6m.

Rounding the loss up by £1.4m is a tad cheeky.