[cite]Posted By: budgie[/cite]Whilst a lot of it was Jordans fault, I think Agilo must now be questioning there timing. Palace have certainly been weakened, but we would certainly have lost Moses with or without admin. However if Agilo hadn't of pulled the trigger when they did, we wouldn't have had the point reduction, Moses may have commanded a higher fee, and the club would certainly have been a better prospect to possible purchasers, as we would have been possible promotion candidates, rather than fighting to avoid relegation.
I believe Palace's main ambition at the moment, must be remaining in the Championship, and by keeping our players it makes that task easier.
Agilo don't care - they want their £5m back, what happens to Palace is of no concern to them, too many broken from promises and I'd think also they got the drift that Moses wasn't going to be sold for anywhere near the transfer value that Palace put on him and when that became clear they pulled the plug.
On the plus side Crystal Palace have a number of thousand of supporters to call on (especially the ones that have not already bought future season tickets and already paid over their monies), and they still have some players who could be sold to raise money.
I don't believe they have any real estate (certainly not Selhurst park...maybe the training ground) to raise money, but they may have some TV income due in.
The choices seem to be to find a very rich investor prepared to pay off the debts, to buy or rent Selhurst Park, and gamble that in the future the income will grow. The other choice is to slash and burn until the outgoings match the income, maybe by renting a cheaper ground and only having players on low money, and then find enough volunteers to exploit their geographical position near Croydon, and grow the income.
The final choice is to go bust.
I know you've long not been a fan of Jordan but seems that many palace fans still think it is all Agilo/Noades/Sky's fault rather than the orange tosser's total mis-management and ego tripping. Just can't fathom out why?
ong
I cannot fathom it either. I know my view of the Orange one was coloured ;-) by the fact that I had the dubious pleasure of working for him. But I cannot get my head round how other Palace fans want to still slaughter Noades (thats the guy who built the only decent stand in the ground) and yet see SJ as doing no wrong.........apart from sticking us back in administration, in a worst position than he found us...........his legacy at Selhurst is putting up a big screen TV and a swanky bar in the top of the holmesdale.......pretty much sums him up I'd say.
The only decent stand in the ground....was that not paid for by the supporters???
Also I am sure that Noades tried to keep the freehold to protect CPFC from the sh1t they are in now......so I was told....
[cite]Posted By: ellisaddick[/cite]I thought I heard somewhere that clubs in dire financial problems can sell players outside of the transfer window.
Yes - that's how we got hold of Hermann Hreidarsson. But there are not so many teams prepared and able to buy a player and immediately stick him on gardening leave until August.
It is reported that there is a mystery buyer that made contact with Agilo before administration (so says the Administrator) but they have yet to come forward despite the Adminstrator mentioning that he knew their name. That seems very odd to me that they should make that position known to the public.
If they have been talking to the secured creditor, is that why Agilo put them into administration, to force this to a conclusion? Jordan will be shafted and out of there, Agilo get their money, the club moves forward with it's debt burden relieved, and the new owners will have made an offer for the club which covers merely the footballing debt/secure debt, the players wages and maybe a little bit left for the taxman and the Tangoman.
Why otherwise would the Administrator make this known? He may I suppose be desperately trying to flush potential buyers out into the open?
It was mentioned by the Administrator that there were premiership "clubs" interested in buying Moses. It seems by all accounts that there was only one. Was this an attempt by the Administrator to try and talk Wigan up? If it was he failed.
I must say I am really torn by whether the squad departures stopping at Moses is a good or a bad sign. It seems to me to be a good sign but I'm not certain. There is talk of Agilo loaning more money to pay the players wages. Clearly there is some kind of a plan to keep the club afloat in the short term so as to make it attractive to buy. If they are close to a deal with a buyer who wants to keep the squad together then the minimum amount of player sales would probably ensue.
Chin up SOS, it can't be a happy time for fans like you and Budgie but I can't help thinking that a deal will be struck.
Son of Selhurst....your note of despair struck a chord with me as I well remember my similar feelings when Charlton went into receivership in 1984 and the future looked absolutely non-existent. We were fortunate then and came through by the skin of our teeth with minutes to go. Crystal Palace aren't in receivership so at least for the time being you will still be playing matches and bringing in a bit of matchday income (not much in the scheme of things but better than a kick in the spuds) If our experience all those years ago is anything to go by, it will become a question of day to day survival for Palace and there will be a number of twists and turns along the way. I hope you win your cup game v Wolves for a start (they've got other more important things to worry about) and can make a few quid that way. Then it will be trying to win a few matches with what you've got left (presume some players will have to be loaned out), staying up and flogging Darren Ambrose to the highest bidder. On a more general note, in the right hands, Palace have a great deal of potential (especially if Selhurst can be refurbed) and I'm sure the club will appeal to a number of prospective buyers. In the meantime, it will be a rough ride but keep the faith, get behind whatever players take the field for you and remember....things could yet turn out ok.
Surely the $64,000 question, bearing in mind that Agillo are owed £5m and the fire sale raised only £2.5m cash, is when do we get out £100k? If the administrator wants to keep CPFC as a going concern to maximise returns to creditors, shouldn't football debts come 1st?
[cite]Posted By: Addickson's God[/cite]Surely the $64,000 question, bearing in mind that Agillo are owed £5m and the fire sale raised only £2.5m cash, is when do we get out £100k? If the administrator wants to keep CPFC as a going concern to maximise returns to creditors, shouldn't football debts come 1st?
They do.
The fee goes via the Football League and they will pay any football creditors from it before passing the remainder on the Palace.
And it's not even clear if it was £2.5m or how the payments will be broken down. Some on Palace sites claiming £2m cash only.
Palace can still move players on next month as loans with a view to sell and take a loan fee while reducing wage bill. Obviously not to Prem clubs though.
So they didn't really raise any money in the last week apart from £2.5m? Surely if they a running at a loss next week players will be loaned out to try and save some money on the wage bill? Otherwise how do they afford to keep going till the end of the season?
[cite]Posted By: pauldcpfc[/cite]Win tonight worth a lot of money to the club.
After ticket sales for the next leg, £250k for another TV game, £80k for tonights win etc etc, we're looking at well over £600k because of tonights win.
More value than the £500k offered for Clyne which Warnock told Clyne to turn down.
[cite]Posted By: pauldcpfc[/cite]Win tonight worth a lot of money to the club.
After ticket sales for the next leg, £250k for another TV game, £80k for tonights win etc etc, we're looking at well over £600k because of tonights win.
More value than the £500k offered for Clyne which Warnock told Clyne to turn down.
And Addickted, we do owe Agilo £6m.
They paid another million for this months wages.
But then, you knew that, of course...
So your in more debt than you were last month?
That's what i was thinking. You've made 600k from the cup but Agilo have paid the 1m wages. So you're 400k worse off. It's going well lads!!
[cite]Posted By: McLovin[/cite]To be fair they'll have other forms of revenue during the month.
Apparently not as the orange one had already sub-contracted a lot of the other revenue streams (catering/bars etc.) and has subsequently spunked the fees received.
If a player is not paid, after 14 days i think a player becomes (if they want to be) a free agent and can walk away from a club and Agilo would then loose an asset, hence them paying the wages to protect their investment.
[cite]Posted By: HardyAddick[/cite]If a player is not paid, after 14 days i think a player becomes (if they want to be) a free agent and can walk away from a club and Agilo would then loose an asset, hence them paying the wages to protect their investment.
I don't think that's the case when a club is in administration, it's either the administrators duty, or the pfa's but with the pfa's its only as a loan, and being football related is guaranteed 100% repayment.
Players are part of the asset of the football club, along with the ground,training ground, equipment etc. So there is no way a player can walk away, unless the administrator agrees and its reducing mounting debt i.e wage bill. Palarses problem is they have very little asset other than the players.
Monthly wages Normal staff 100 ? = £100,000 Players say 30 ? Top earners say 6 on £10,000 a week = 240,000 other 24 adverage on 2,000 a week = £96,000
Total £436,000 + tax and NI cons 30% total then become over half a million a month.
Comments
Agilo don't care - they want their £5m back, what happens to Palace is of no concern to them, too many broken from promises and I'd think also they got the drift that Moses wasn't going to be sold for anywhere near the transfer value that Palace put on him and when that became clear they pulled the plug.
I don't believe they have any real estate (certainly not Selhurst park...maybe the training ground) to raise money, but they may have some TV income due in.
The choices seem to be to find a very rich investor prepared to pay off the debts, to buy or rent Selhurst Park, and gamble that in the future the income will grow. The other choice is to slash and burn until the outgoings match the income, maybe by renting a cheaper ground and only having players on low money, and then find enough volunteers to exploit their geographical position near Croydon, and grow the income.
The final choice is to go bust.
The only decent stand in the ground....was that not paid for by the supporters???
Also I am sure that Noades tried to keep the freehold to protect CPFC from the sh1t they are in now......so I was told....
If they have been talking to the secured creditor, is that why Agilo put them into administration, to force this to a conclusion? Jordan will be shafted and out of there, Agilo get their money, the club moves forward with it's debt burden relieved, and the new owners will have made an offer for the club which covers merely the footballing debt/secure debt, the players wages and maybe a little bit left for the taxman and the Tangoman.
Why otherwise would the Administrator make this known? He may I suppose be desperately trying to flush potential buyers out into the open?
It was mentioned by the Administrator that there were premiership "clubs" interested in buying Moses. It seems by all accounts that there was only one. Was this an attempt by the Administrator to try and talk Wigan up? If it was he failed.
I must say I am really torn by whether the squad departures stopping at Moses is a good or a bad sign. It seems to me to be a good sign but I'm not certain. There is talk of Agilo loaning more money to pay the players wages. Clearly there is some kind of a plan to keep the club afloat in the short term so as to make it attractive to buy. If they are close to a deal with a buyer who wants to keep the squad together then the minimum amount of player sales would probably ensue.
Chin up SOS, it can't be a happy time for fans like you and Budgie but I can't help thinking that a deal will be struck.
Martin Long?
Oh no!
Don't think he has enough on his own to progress - unless he wants to lose the lot. RBS now own Churchill anyway.
Have a look at who normally purchases an organisation of Palace's size once they're in administration - that should give you some idea.
They do.
The fee goes via the Football League and they will pay any football creditors from it before passing the remainder on the Palace.
And it's not even clear if it was £2.5m or how the payments will be broken down. Some on Palace sites claiming £2m cash only.
Palace can still move players on next month as loans with a view to sell and take a loan fee while reducing wage bill. Obviously not to Prem clubs though.
Palace will have to pay some of that to the player (who didn't request a transfer), the agent and of course HMRC will want their 17.5%.
HMRC, You've got to love em.
HMRC = you, me and the rest of the country!
Where will it ever end?
Who can say, but lets hope the saga gos on and on and on..........
So your in more debt than you were last month?
That's what i was thinking. You've made 600k from the cup but Agilo have paid the 1m wages. So you're 400k worse off. It's going well lads!!
£1M a month seems a fairly hefty monthly wage bill though.
SOS, you talk a lot of sense, is there a Palace forum were your ilk post?
They also have other out goings such as rent etc
I would imagine that they have got a bit of debt to that they would probably have to service?
Apparently not as the orange one had already sub-contracted a lot of the other revenue streams (catering/bars etc.) and has subsequently spunked the fees received.
I don't think that's the case when a club is in administration, it's either the administrators duty, or the pfa's but with the pfa's its only as a loan, and being football related is guaranteed 100% repayment.
Monthly wages
Normal staff 100 ? = £100,000
Players say 30 ?
Top earners say 6 on £10,000 a week = 240,000
other 24 adverage on 2,000 a week = £96,000
Total £436,000 + tax and NI cons 30% total then become over half a million a month.
The above is a conservative estimate .