[cite]Posted By: Covered End[/cite]I tell you what, being offered 1p in the £ is a liberty. Even I would have some sympathy for Jordan on that & I hate the bloke.
I hope he blocks it.
"But I don't want to make things difficult for the administrators. I have seen first hand how much this club means to people. I don't want to be the one who destroys Crystal Palace Football Club"
If Jordan blocks the CVA they'll be deducted 17 more points, and above all else he's a Palace fan so i can't see that he'd let that happen.
[cite]Posted By: Covered End[/cite]I tell you what, being offered 1p in the £ is a liberty. Even I would have some sympathy for Jordan on that & I hate the bloke.
I hope he blocks it.
If he blocks it, he may lose another £1.4m as he has guaranteed the monies taken for future season ticket sales paid by credit card. CPFC2010 may honour those if he votes in favour of the CVA, if he doesn't and they either pull out of the deal or renage on them, the credit card company will come after SJ for their money. Looks like CPFC2010 have a gun pointed as the orange masters head and what will really get under his skin, is that Noades is rumoured to be pulling the strings on behalf of the consortium.
I would tend to go along with the views on their BBS, people who seem close to what is happening over there expect Jordan to back down and take what he is being offered. He still has a few contacts in the media to put out some scare stories before he agrees and goes away seemingly doing the right thing in the eyes of the Palace faithful. The reality seems though that he has little choice but to take his medicine before it gets any worse.
Disgusting really that the local businesses involved are going to get stitched up for 1p in the pound - that could push some poor bastards right to the wall.
The worst thing is that once it is approved the new consortium will suddenly find a couple of million down the back of the sofa and start laying out transfer fees on new players and maybe even get into the Premiership.
A football club should not be allowed to spend money on transfer fees until they have paid back their creditors for at least 50% of what they owe them.
Imagine being the local electrician or whatever and being owed 20K for work carried out at Palace and getting stiffed for it and then seeing the club start spending 250K transfer fees on new players.
[cite]Posted By: IA[/cite]1p in the £ is ridiculous.
It is and I wonder what the attitude of our Board/'friendly creditors' is to the same prospect at Charlton? Seems to me there are a few conflicting interests.
Doesn't sound too great for Palace to me, if Jordan will not vote for the 1p in the pound.
CPFC 2010 spokesman David Jensen insists the consortium remains committed to buying Crystal Palace, and is optimistic a deal will be struck.
The group, led by Eagles fans Steve Parish and Martin Long, have gone back on their pledge to fund the club during administration, withdrawing its funding for the summer after Simon Jordan gave indications he would vote down a Creditors Voluntary Agreement of 1p in the pound.
Additionally CPFC 2010 are yet to agree a deal to buy Selhurst Park, but Jensen remains confident a takeover is not far away.
"The word is we are very close," he told the Croydon Guardian.
"There's still one or two things that may yet prove to be taxing but the optimism is still there and the will to do it is still there.
"We are not popping the champagne yet, it's still in the shop and at room temperature. It is frustrating but now it is just a waiting game.
"I think the talks they have had about the stadium have been going in the right direction from the consortium's point of view and everyone is optimistic. Until the i's are dotted and the t's are crossed we live in hope."
All this is an absolute disgrace - and exactly the sort of thing Palace fans would have been screaming foul at when Bates did it with Leeds a few years back. Absolutely disgusting that football clubs seem to think that they can treat themselves completely different to any other business - all this 'football creditors paid in full' shit has to stop. Next season it could well be us in this position - there will be plenty of local business who are owed money by CAFC, and if we go into admin they'll end up at the bottom of the pile whilst dross like Christensen, Mootouakil and christ knows who else will be paid in full for doing f***-all. It makes my blood boil.
[quote][cite]Posted By: Ormiston Addick[/cite]Disgusting really that the local businesses involved are going to get stitched up for 1p in the pound - that could push some poor bastards right to the wall.
The worst thing is that once it is approved the new consortium will suddenly find a couple of million down the back of the sofa and start laying out transfer fees on new players and maybe even get into the Premiership.
A football club should not be allowed to spend money on transfer fees until they have paid back their creditors for at least 50% of what they owe them.
Imagine being the local electrician or whatever and being owed 20K for work carried out at Palace and getting stiffed for it and then seeing the club start spending 250K transfer fees on new players.
It just is not right.[/quote]
Whilst I'm not disagreeing with you, if you were the prospective new owner of the club. Would you pay back local businesses for payments you did not make? It might sound incredibly crude, but the only person to blame is Simon Jordan and the CPFC2010 aren't going to pick up his tab.
[cite]Posted By: Friend Or Defoe[/cite]Clubs in admin should enter a transfer embargo until they have paid everyone back in full (whilst still permitting adjudications).
That and the 10 point penalty should be enough punishment.
Nice thought, but totally inpractical.
No club would ever be rescued, as no one would want to inherit all the debt caused by the ineptness of previous owners, and clubs would fold every season.
[cite]Posted By: budgie[/cite]No club would ever be rescued, as no one would want to inherit all the debt caused by the ineptness of previous owners, and clubs would fold every season.
Ah but then maybe people will start running their clubs properly.
Rather than one braincelled oompaloompa look-a-like cnuts.
I'm sure your view may be slightly different if you, or someone in your family, owned one of those businesses that CP2010 are about to potentially destroy.
[cite]Posted By: Friend Or Defoe[/cite]Clubs in admin should enter a transfer embargo until they have paid everyone back in full (whilst still permitting adjudications).
That and the 10 point penalty should be enough punishment.
Nice thought, but totally inpractical.
No club would ever be rescued, as no one would want to inherit all the debt caused by the ineptness of previous owners, and clubs would fold every season.
Far better for clubs to fold for being poorly managed than well run small businesses. 1p in the £1 is outrageous and should be illegal.
Stu, I'm not defending anyone here, obviously there will be companies, and local businesses hurt.
You have to remember though, it's not just a football matter, I work for a small company who have been affected by other businesses going bust, and being left with large debts, and unfortunatly seen some of my colleagues been made redundant.
[cite]Posted By: budgie[/cite]Stu, I'm not defending anyone here, obviously there will be companies, and local businesses hurt.
You have to remember though, it's not just a football matter, I work for a small company who have been affected by other businesses going bust, and being left with large debts, and unfortunatly seen some of my colleagues been made redundant.
But football clubs seem to pop up unscathed from the whole sorry process. Local businessmen get screwed. The taxpayer gets screwed and yet the players and football club just shrug and life goes on as per normal. I would make the punishment for Administration much more draconian. Automatic relegation by two divisions would make a few of these shizer chairmen act more responsibly imho. I hope that this comment does not go on to bite Charlton on the bum in the future but something needs to be done about the mess that is football.
[cite]Posted By: budgie[/cite]Stu, I'm not defending anyone here, obviously there will be companies, and local businesses hurt.
You have to remember though, it's not just a football matter, I work for a small company who have been affected by other businesses going bust, and being left with large debts, and unfortunatly seen some of my colleagues been made redundant.
But football clubs seem to pop up unscathed from the whole sorry process. Local businessmen get screwed. The taxpayer gets screwed and yet the players and football club just shrug and life goes on as per normal. I would make the punishment for Administration much more draconian. Automatic relegation by two divisions would make a few of these shizer chairmen act more responsibly imho. I hope that this comment does not go on to bite Charlton on the bum in the future but something needs to be done about the mess that is football.
Crystal Palace as a brand, have a history of administration as this is the 3rd time they find themselves in this position. Local businesses should be smart enough by now to realise that they run a risk trading with CPFC. Any new buyers of CPFC should also be aware that they are buying an unreputable business. Cumulative punishment by the FA is the best way to stop repeat mismanagement of football clubs. A three division relegation should be the appropriate punishment for CPFC, it should have been two divisions the last time and one relegation for the first administration. Maybe then people who run football clubs will have a little more respect for the hard working small business who support their operations and new buyers won't be getting such a soft deal.
I agree with Ormiston Addick & Leroy. Football clubs evading their responsibilities is just not right. Bad karma. And at any rate palace will never whither and die. Thousands of fans will see to that. If Aldershot, Accrington Stanley and AFC Wimbledon, all much smaller outfits than palace, can go down eight divisions and start again then so can palace, and us for that matter. Sellhurst might be lost on the way but speaking dispassionalely that might not be a bad thing. A ground closer to the M25 would make more sense.
Comments
I hope he blocks it.
"But I don't want to make things difficult for the administrators. I have seen first hand how much this club means to people. I don't want to be the one who destroys Crystal Palace Football Club"
If Jordan blocks the CVA they'll be deducted 17 more points, and above all else he's a Palace fan so i can't see that he'd let that happen.
That would get him another £39K.
If he blocks it, he may lose another £1.4m as he has guaranteed the monies taken for future season ticket sales paid by credit card. CPFC2010 may honour those if he votes in favour of the CVA, if he doesn't and they either pull out of the deal or renage on them, the credit card company will come after SJ for their money. Looks like CPFC2010 have a gun pointed as the orange masters head and what will really get under his skin, is that Noades is rumoured to be pulling the strings on behalf of the consortium.
The worst thing is that once it is approved the new consortium will suddenly find a couple of million down the back of the sofa and start laying out transfer fees on new players and maybe even get into the Premiership.
A football club should not be allowed to spend money on transfer fees until they have paid back their creditors for at least 50% of what they owe them.
Imagine being the local electrician or whatever and being owed 20K for work carried out at Palace and getting stiffed for it and then seeing the club start spending 250K transfer fees on new players.
It just is not right.
It is and I wonder what the attitude of our Board/'friendly creditors' is to the same prospect at Charlton? Seems to me there are a few conflicting interests.
CPFC 2010 spokesman David Jensen insists the consortium remains committed to buying Crystal Palace, and is optimistic a deal will be struck.
The group, led by Eagles fans Steve Parish and Martin Long, have gone back on their pledge to fund the club during administration, withdrawing its funding for the summer after Simon Jordan gave indications he would vote down a Creditors Voluntary Agreement of 1p in the pound.
Additionally CPFC 2010 are yet to agree a deal to buy Selhurst Park, but Jensen remains confident a takeover is not far away.
"The word is we are very close," he told the Croydon Guardian.
"There's still one or two things that may yet prove to be taxing but the optimism is still there and the will to do it is still there.
"We are not popping the champagne yet, it's still in the shop and at room temperature. It is frustrating but now it is just a waiting game.
"I think the talks they have had about the stadium have been going in the right direction from the consortium's point of view and everyone is optimistic. Until the i's are dotted and the t's are crossed we live in hope."
'Are you serious...?', asked Jensen....
'No,' said the taxman, 'I'm winding you up...'
The worst thing is that once it is approved the new consortium will suddenly find a couple of million down the back of the sofa and start laying out transfer fees on new players and maybe even get into the Premiership.
A football club should not be allowed to spend money on transfer fees until they have paid back their creditors for at least 50% of what they owe them.
Imagine being the local electrician or whatever and being owed 20K for work carried out at Palace and getting stiffed for it and then seeing the club start spending 250K transfer fees on new players.
It just is not right.[/quote]
Whilst I'm not disagreeing with you, if you were the prospective new owner of the club. Would you pay back local businesses for payments you did not make? It might sound incredibly crude, but the only person to blame is Simon Jordan and the CPFC2010 aren't going to pick up his tab.
That and the 10 point penalty should be enough punishment.
Nice thought, but totally inpractical.
No club would ever be rescued, as no one would want to inherit all the debt caused by the ineptness of previous owners, and clubs would fold every season.
Ah but then maybe people will start running their clubs properly.
Rather than one braincelled oompaloompa look-a-like cnuts.
I'm sure your view may be slightly different if you, or someone in your family, owned one of those businesses that CP2010 are about to potentially destroy.
You have to remember though, it's not just a football matter, I work for a small company who have been affected by other businesses going bust, and being left with large debts, and unfortunatly seen some of my colleagues been made redundant.
But football clubs seem to pop up unscathed from the whole sorry process. Local businessmen get screwed. The taxpayer gets screwed and yet the players and football club just shrug and life goes on as per normal. I would make the punishment for Administration much more draconian. Automatic relegation by two divisions would make a few of these shizer chairmen act more responsibly imho. I hope that this comment does not go on to bite Charlton on the bum in the future but something needs to be done about the mess that is football.
No problems with any of that, I agree completly.
full of stripey mugs who deserve the rep of being inbred fools
[quote][cite]Posted By: nth london addick[/cite]Tin pott 2 bitt cack outfit
full of stripey mugs who deserve the rep of being inbred fools[/quote]
Harsh but spot on.....lol
It tolls for thee.