[Football] Premier League club has striking off order from Registrar of Companies. Who could it be?

[Icy Gull]

You'd have thought that coming on here, getting everything wrong and being thoroughly rinsed about it would get boring. But no, still they do it.

Maybe our visiting goons would be better off on the 14 page thread about this subject (the accounts not being filed, as that's what THIS thread is supposed to be about) on their own forum.

https://www.holmesdale.net/page.php?id=106&tid=171588&page=14

Along with a lot of "oh I'm sure it's nothing to worry about" type guff, ill informed posts about accounts and some of them accusing each other of libel, there are some gems:










And the classic.....

Seems some of them are nowhere near as cavalier as the ones that post on here who absolutely refuse to believe it’s something to worry about.

 

[Pavilionaire]

'Insider Croydon' yesterday: And according to sources close to the club, that is expected to be the same situation in the case of Palace when its accounts are formally submitted “in the next few days”.

The source said that the reason for the delay has been the increasingly complicated relationship between CPFC 2010 Ltd and the other companies involved with the club, including CPFC Ltd, CPFC Selhurst Park Ltd, and two other holding companies owned by Palace’s American investors.

The accounts are understood to have been with the Premier League for some time, and the delay in filing has been entirely due to the auditing process, the source said.

 

[ThePaddy]

The point, that you are willfully ignoring, is that there was never, at any stage, a necessity for Palace to enter administration. At no stage were your debts close to the value of your (playing) assets. You could have sold two or three (five or six if necessary) of your star players, paid all of your debts in full, and continued as a proud club, albeit with a temporary setback of a weakened playing squad.

Selling those stars would have had the added benefit of vastly reducing the club's running costs (salary obligations), so on this new even keel, you would go about consolidating / rebuilding, at the foot of the Championship, or heaven forbid, League one.

Instead (and of course this path is not exclusive to Palace) you took the snide way out - stole honest earnings owed to other businesses and individuals, kept the star players on tens of thousands a week, and laughed in the face of fair play. Your club has no shame. You know that, too.

You are incorrect. Simon Jordan didn't want the club to enter administration but was forced to by a trigger happy Agilo over a debt of £4.1m. If Jordan had gotten his way, the club would have remained solvent and sold players to fund repayment of debts. When Agilo forced Palace into administration it caused Jordan to lose the majority of his fortune.

" But Palace's financial travails continued: their top player was earning £11,000 a week while attendances were dipping. "The cash flow was shot to pieces, gate receipts were £1 million down,'' said Jordan. "Most directors at other clubs would have run for the hills but I stood tall and paid in £6 million.''

Agilo, though, was becoming concerned about pressure for payments from Her Majesty's Revenue and Customs and the collapse of a proposed injection of £7.5 million from the controversial Hero Fund (which lends against young playing squads). The race was on to see which would get its money out of Palace first: Agilo or the tax-man.

"On Jan 26, I told the hedge fund I have player transfers I can do, I have buyers in the wings, we'll be fine,'' said Jordan. The following day, at 3pm, Agilo called in the administrators to the horror of Jordan and the club's bankers, Lloyds.

The debt was relatively minor, £4.1 million, yet the ramifications were major. "There is a very real possibility that because of the action over the debt, Palace may not survive,'' said Jordan. "This administration is outrageous and utterly pointless. I felt royally shafted. I felt devastated, humiliated, embarrassed. I have done 10 years of my life and £35 million on Palace.

"My only focus was trying to pay the players and staff with the Revenue and hedge fund up my ****. I asked the players to wait a few days to be paid; whilst they need their money, a guy on £15,000 a year on the commercial staff needs his money a little bit more. "

https://www.telegraph.co.uk/sport/f...roubles-a-cautionary-tale-for-all-owners.html

As for selling star players, Palace sold Victor Moses to Wigan for a cutprice £2.5m out of desperation in an attempt to keep the club afloat.

Please don't let facts get in the way of your pointless Palace-bashing though.

 

[hans kraay fan club]

You are incorrect. Simon Jordan didn't want the club to enter administration but was forced to by a trigger happy Agilo over a debt of £4.1m. If Jordan had gotten his way, the club would have remained solvent and sold players to fund repayment of debts. When Agilo forced Palace into administration it caused Jordan to lose the majority of his fortune.

" But Palace's financial travails continued: their top player was earning £11,000 a week while attendances were dipping. "The cash flow was shot to pieces, gate receipts were £1 million down,'' said Jordan. "Most directors at other clubs would have run for the hills but I stood tall and paid in £6 million.''

Agilo, though, was becoming concerned about pressure for payments from Her Majesty's Revenue and Customs and the collapse of a proposed injection of £7.5 million from the controversial Hero Fund (which lends against young playing squads). The race was on to see which would get its money out of Palace first: Agilo or the tax-man.

"On Jan 26, I told the hedge fund I have player transfers I can do, I have buyers in the wings, we'll be fine,'' said Jordan. The following day, at 3pm, Agilo called in the administrators to the horror of Jordan and the club's bankers, Lloyds.

The debt was relatively minor, £4.1 million, yet the ramifications were major. "There is a very real possibility that because of the action over the debt, Palace may not survive,'' said Jordan. "This administration is outrageous and utterly pointless. I felt royally shafted. I felt devastated, humiliated, embarrassed. I have done 10 years of my life and £35 million on Palace.

"My only focus was trying to pay the players and staff with the Revenue and hedge fund up my ****. I asked the players to wait a few days to be paid; whilst they need their money, a guy on £15,000 a year on the commercial staff needs his money a little bit more. "

https://www.telegraph.co.uk/sport/f...roubles-a-cautionary-tale-for-all-owners.html

As for selling star players, Palace sold Victor Moses to Wigan for a cutprice £2.5m out of desperation in an attempt to keep the club afloat.

Please don't let facts get in the way of your pointless Palace-bashing though.

Facts?

You sold ONE player? Whoopie ****ing do.

How about you sold more players, earlier, and didn't spend beyond your means, and so didn't ever NEED to come to administration

 

[lawros left foot]

Apparently the accounts are due in this week, hopefully Admin 3 is avoided, this thread gets buried, and you can start a new Palace thread.

Is that THIS week, some other this week, this week to be decided sometime in the future, this week may never come, or some other kind of THIS week?

 

[lawros left foot]

Facts?

You sold ONE player? Whoopie ****ing do.

How about you sold more players, earlier, and didn't spend beyond your means, and so didn't ever NEED to come to administration

For the SECOND Time!!!!

 

[hans kraay fan club]

For the SECOND Time!!!!

Well, quite. Having already gone down the going-bust route once, you'd think that a proud club would then at least TRY to cut its cloth according to its means.

But no - they chose to buy and pay players that their income / crowds did not support, financed by borrowing - with no regard for any consequences down the line. Then when it all inevitably comes crashing down, blame the lender for insisting on their payments owed.

 

[Green Cross Code Man]

Please don't let facts get in the way of your pointless Palace-bashing though.

Palace bashing is NEVER pointless. We don't like you, or your sort in here.

 

[ThePaddy]

Facts?

You sold ONE player? Whoopie ****ing do.

How about you sold more players, earlier, and didn't spend beyond your means, and so didn't ever NEED to come to administration

We also sold Jose Fonte to Southampton for £1.2m. We agreed a fee to sell Clyne as well but the player refused to leave the club.

You are moving the goalposts here. You were suggesting that Palace deliberately entered administration (and risked the very existence of the football club) to screw over our creditors. Do you now see that you were wrong?

 

[ThePaddy]

Well, quite. Having already gone down the going-bust route once, you'd think that a proud club would then at least TRY to cut its cloth according to its means.

But no - they chose to buy and pay players that their income / crowds did not support, financed by borrowing - with no regard for any consequences down the line. Then when it all inevitably comes crashing down, blame the lender for insisting on their payments owed.

The lender didn't put Palace into administration because we weren't making our payments. They put Palace into administration because they were an aggressive hedge fund that wanted to extract their money before Palace paid HMRC.

 

[bhanutz]

We also sold Jose Fonte to Southampton for £1.2m. We agreed a fee to sell Clyne as well but the player refused to leave the club.

You are moving the goalposts here. You were suggesting that Palace deliberately entered administration (and risked the very existence of the football club) to screw over our creditors. Do you now see that you were wrong?

Not wrong at all.... You have history.. Lots of it... You don't ever learn, paying ridiculous wages to Benteke and the others.. Then you bleat on about finishing above us. I would love to compare the wages of both our squads.

 

[hans kraay fan club]

We also sold Jose Fonte to Southampton for £1.2m. We agreed a fee to sell Clyne as well but the player refused to leave the club.

You are moving the goalposts here. You were suggesting that Palace deliberately entered administration (and risked the very existence of the football club) to screw over our creditors. Do you now see that you were wrong?

The lender didn't put Palace into administration because we weren't making our payments. They put Palace into administration because they were an aggressive hedge fund that wanted to extract their money before Palace paid HMRC.

Fair points on the semantics.

Shall we settle instead on "chose to spend money that wasn't yours, to bankroll (player) assets, and then entered administration, when the lender (that you only NEEDED to borrow from to prop up a league position beyond your means) demanded THEIR money be paid back to them".

More comfortable with that statement?

 

[Triggaaar]

Seems some of them are nowhere near as cavalier as the ones that post on here who absolutely refuse to believe it’s something to worry about.

There are decent Palace fans out there, but understandably they don't waste their time on a rivals forum, and we get their goons instead.

 

[Triggaaar]

You are incorrect. Simon Jordan didn't want the club to enter administration but was forced to by a trigger happy Agilo over a debt of £4.1m.

You're trying to argue that Jordan could not get that £4.1m? You don't believe what you're writing do you?

"Most directors at other clubs would have run for the hills but I stood tall and paid in £6 million.''

That should cover the £4.1m then.

"On Jan 26, I told the hedge fund I have player transfers I can do, I have buyers in the wings, we'll be fine,'' said Jordan. The following day, at 3pm, Agilo called in the administrators to the horror of Jordan and the club's bankers, Lloyds.

Instead of saying 'I have player transfers I can do', why didn't your club actually do those player transfers? It's just another excuse.

Believing every word of Jordan is a mistake.

Please don't let facts get in the way of your pointless Palace-bashing though.

You're not coming up with facts, you're posting spin.

 

[Triggaaar]

We agreed a fee to sell Clyne as well but the player refused to leave the club.

So you're saying your club was forced into administration by Clyne? He sent your club into administration, yet you all loved him afterwards anyway.

 

[dazzer6666]

Not wrong at all.... You have history.. Lots of it... You don't ever learn, paying ridiculous wages to Benteke and the others.. Then you bleat on about finishing above us. I would love to compare the wages of both our squads.

Difficult to compare without accounts though....[emoji23]

Sent from my E5823 using Tapatalk

 

[The Gem]

The lender didn't put Palace into administration because we weren't making our payments. They put Palace into administration because they were an aggressive hedge fund that wanted to extract their money before Palace paid HMRC.

They put Palarse into administration because they knew the club, and anyone who has anything to do with the club are c*nts

 

[lawros left foot]

It took Christopher Columbus 70 days to sail to America, theoretically, you could walk 7000 km in 70 days,
You could watch’Gone with the wind’ 450 times in 70 days,you could play 1100 games of football in 70 days, Craig David could meet, make love, and then chill with 10 girls, in 70 days, the longest game of Monopoly lasted 70 days.




But Palace can’t submit their accounts in 70 days.

 

[Blue Valkyrie]

I assume the minor, miniscule, trivial technicality has now been easily resolved and the accounts have been submitted by now ?

 

[Triggaaar]

I assume the minor, miniscule, trivial technicality has now been easily resolved and the accounts have been submitted by now ?

Nah, they were submitted on time, but the PL have taken a long time checking them.

To be fair, it's not easy to check them, because there are Palace companies within Palace companies that make understanding the accounts extremely difficult, which I must point out is in no way a deliberate attempt to hide details or circumvent any rules.