[cite]Posted By: Red_Pete[/cite]Well credit to them for having a go, but what can such a protest actually achieve? Somebody needs to DO something to save the club. Just making a loud noise is not really going to change much is it? I wish them luck anyway.
I also wish them well but it'll not mean much to those holding all the cards.
Palace aren't alone in pointless gestures.
Relatively recently a bunch of tools from the Your Views part of the OS tried to organise a protest of people leaving before half time at a home game to show displeasure.
The game was quite exciting and nobody bothered to leave as far as I could tell!
Trust to launch Loan Notes Scheme Thursday 3rd June
Crystal Palace Supporters' Trust is deeply saddened by the redundancies of hard-working, loyal staff at Crystal Palace, announced yesterday.
Despite positive statements over the past few weeks from the Administrators and CPFC2010, the situation at the club is clearly at a critical point, and the time has come for all interested parties to clearly state their current position.
We wish to announce that we will launch the loan note scheme this Thursday 3rd June, by which we, the fans, can raise funds to contribute to the purchase of the club and ground. This will be launched to the press on Thursday morning and to the fans at the start of the Trust AGM, commencing 7.30pm in the Players Lounge at Selhurst Park. All are welcome.
Furthermore the Trust is working with other parties to organise a benefit for the staff who have lost their jobs.
For now all of our thoughts will be with the club's staff, past and present.
Well done their trust and fans for taking some action.
Speaking to someone I know yesterday who is a Palace fan, he seems to think that a group have put things in place (reserved pitch, applied for league position, etc.) for a "AFC Palace" for next season. How much truth there is in this I don't know, it's just what he said. Anyone else heard of this?
Good luck to them. Without the Millwall and palaces our football calendar is bleaker regardless of what respective leagues we are in and I dont want a game where the nearest team around one day is Arsenal.
As you are aware we are endeavoring to acquire both Crystal Palace Football club and Selhurst Park. Everyone would agree Selhurst Park is pivotal to the long-term future of the club and CPFC2010 have always made it clear that they will not proceed without securing it.
We have now reached agreement with Agilo regarding their debt against the club and did have what we thought was an agreement with Bank of Scotland who are the major creditor of Selhurst Park Ltd. Subsequent to this agreement we have been sent a contract that does not reflect this agreement and is unworkable.
CPFC 2010 value Selhurst park as a football ground but have agreed to pay a significant premium on that. We also recognize that a property developer may pay even more for the ground on the chance that they may be able to change its use sometime in the future. The bank have made it clear that they want to help the club and don’t want to sell to a property developer now but are worried we may sell the land for development in the future, making a profit and embarrassing the bank in the process.
In order to put their minds at rest we have also agreed to an ‘anti embarrassment’ clause that allows the Bank to see a further return if we realize greater value from the ground in the future. In essence we need clarity on what that amount should be and how it is calculated. At the moment it seems the Bank want to make unlimited return in the future even if that value is created on the back of the success of the football club or money we have invested in a new infrastructure and not in appreciation of the value of the land. We believe that the maximum they should make is the difference between what we will pay for the land as a football ground and what a property developer will pay now as a development opportunity plus interest.
We are dealing totally through intermediaries and its very frustrating, as we don’t think the bank competently understand the situation we are in, or the urgency.
If we cannot reach agreement soon (we have a deadline of 3pm 1st June) Agilo have made their intention clear to sell the players and liquidate the club.Please be assured we are doing everything we can to make this happen but as we sit today the future of Crystal palace hangs in the balance and is very much in the hands of a person in a bank in Scotland whom we have never met and it seems we are not allowed to speak to.
We note the new governments commitment to sport, particularly sport in the community, Bank of Scotland is currently government owned, as such we would urge the new Prime Minister to intervene personally to resolve the situation or see a club supported by many thousands with 100 year History consigned to the scrapheap.
At the end of the day, no matter how much we have a rivalry (or don't in their case) it's a very sad day when a player in the Premiership's wages for a week or two could save a lower league club.
I for one do not want to see Crystal Palace be liquidated. As I have said before elsewhere, I find it hard to understand why anybody would want to support them but of course they do. Parents who have schlepped to the football with their kids, like I have, and their kids have shared in the experience of following Crystal Palace's fortunes, do not deserve to have their club taken from them, and their loyalty trampled on like this. I know quite a few Palace fans, and I know they're abject in their helpless worry....some of those people are absolute and utter diamonds as people (they simply support a different club to me), and I feel for them. The Charlton fans who have a different perspective to me, just think 'there but for the grace of God', maybe it will be our turn sooner rather than later. I hope they survive, maybe weakened somewhat, but survive...and if you think I am being too sentimental...well I can live with that.
Seems to me that all the hard work has been done and in principal all the parties want a deal. I can understand the banks position but can't see that an agreement is so very far away. Tomorrows deadline seems unrealistic and unreasonable given that a deal in principal has been reached unless of course Agilo know something the statement doesn't say. My guess is that Agilo will tomorrow extend the deadline to allow a deal to be reached. It's surely the best for all parties concerned.
they will be ok. the brave 300 have had zero coverage,but clearsil have been flying off the shelfs around the local shops of norwood as angry nigels make their point.
I still think a deal will be reached tomorrow morning. end of the day, all the parties will already know about this supposed deadline, so what's to be achieved from making the information public? IMO it's an attempt to bang some heads together and focus the relevant people's attention in order to complete the deal. As usual, compromises will be made on both sides and an agreement reached.
OR
it could be a desperate last throw of the dice from a consortium who don't have the real funds to complete the deal, and so are trying to use Palace's supporters under the threat of the club closing as a reason to get the club and ground on the cheap. The statement claimed that as it is owned by the taxpayer, RBS should accept a lesser deal for the social benefits the club brings to the local community. But that's not the Treasury's responsibility, and so I can't see RBS completely ceding to the consortium's wishes.
My personal preference would be for the club to go to the wall. The time we spent at Selhurst Park tainted me to the point that I will not be able to shed a tear if they do dissapear. I also believe that the majority of Palace fans would welcome us being in this position.
My biggest issue with CPFC2010 is that they believe that a bank owned by the tax payers should give them a great deal. At a time when many people are being asked to make sacrifices for the benefit of the country (Public Services being cut and taxes being increased) I don't see how they can 'demand' that the state owned bank sell them Selhurst Park cheap to potentially sell on for a huge profit in a few years time when the ground essentially belongs to the public. If they can have the ground cheap does that mean that all football clubs can be awarded a multi-million pound grant to compensate for the disparity in competition such hand outs cause?
[cite]Posted By: kings hill addick[/cite]My personal preference would be for the club to go to the wall. The time we spent at Selhurst Park tainted me to the point that I will not be able to shed a tear if they do dissapear. I also believe that the majority of Palace fans would welcome us being in this position.
My biggest issue with CPFC2010 is that they believe that a bank owned by the tax payers should give them a great deal. At a time when many people are being asked to make sacrifices for the benefit of the country (Public Services being cut and taxes being increased) I don't see how they can 'demand' that the state owned bank sell them Selhurst Park cheap to potentially sell on for a huge profit in a few years time when the ground essentially belongs to the public. If they can have the ground cheap does that mean that all football clubs can be awarded a multi-million pound grant to compensate for the disparity in competition such hand outs cause?
No? I didn't think so.
Disagree about them going to the wall, but I think you make a very fair point re finances, they have to pay their debts, and be mindful of the small businesses who are creditors, and thoughtful about those made redundant.
It wouldn't surprise me in the slightest if Ron Noades was in some way involved with CPFC2010, the deal they are tring to broker, certainly smells Noadesesque.
[cite]Posted By: kings hill addick[/cite]
My biggest issue with CPFC2010 is that they believe that a bank owned by the tax payers should give them a great deal. At a time when many people are being asked to make sacrifices for the benefit of the country (Public Services being cut and taxes being increased) I don't see how they can 'demand' that the state owned bank sell them Selhurst Park cheap to potentially sell on for a huge profit in a few years time when the ground essentially belongs to the public. If they can have the ground cheap does that mean that all football clubs can be awarded a multi-million pound grant to compensate for the disparity in competition such hand outs cause?
Agree entirely, strip away the football club aspect and no one would be arguing for LBG to lower their price. The taxpayer needs to get value for its decision to nationalise the banking sector. If Palace go to the wall, they won't be the first club to and they shouldn't expect special treatment from the government in order to avoid it. How would fans of Chester, Aldershot, etc feel if they did?
If it does happen their fans shouldn't be blaming the government, the administrator, the banks or even Agilo, the only people responsible for this are Noades for splitting the club from the ground in the first place, and Jordan for getting into bed with investment houses and for making the agreement on Selhurst he did when he had supposedly 'bought' it.
Latest update from the consortium :- There is no money left in the administration, with no one to fund the club the administrator has no option but to sell the assets (players mainly) and realise as much cash as possible to pay creditors.
The club will then be liquidated unless of course someone else comes forward .
This process will take a short while, how long will depend on the player sales but i suspect only a few days.
We have been told this process will begin at 3pm tomorrow unless we complete the deal we have in place with Agilo. We are unwilling to do this until we have secured the ground.
Comments
I also wish them well but it'll not mean much to those holding all the cards.
Palace aren't alone in pointless gestures.
Relatively recently a bunch of tools from the Your Views part of the OS tried to organise a protest of people leaving before half time at a home game to show displeasure.
The game was quite exciting and nobody bothered to leave as far as I could tell!
Crystal Palace Supporters' Trust is deeply saddened by the redundancies of hard-working, loyal staff at Crystal Palace, announced yesterday.
Despite positive statements over the past few weeks from the Administrators and CPFC2010, the situation at the club is clearly at a critical point, and the time has come for all interested parties to clearly state their current position.
We wish to announce that we will launch the loan note scheme this Thursday 3rd June, by which we, the fans, can raise funds to contribute to the purchase of the club and ground. This will be launched to the press on Thursday morning and to the fans at the start of the Trust AGM, commencing 7.30pm in the Players Lounge at Selhurst Park. All are welcome.
Furthermore the Trust is working with other parties to organise a benefit for the staff who have lost their jobs.
For now all of our thoughts will be with the club's staff, past and present.
Well done their trust and fans for taking some action.
@RedArmy: why is it always AFC?
As you are aware we are endeavoring to acquire both Crystal Palace Football club and Selhurst Park. Everyone would agree Selhurst Park is pivotal to the long-term future of the club and CPFC2010 have always made it clear that they will not proceed without securing it.
We have now reached agreement with Agilo regarding their debt against the club and did have what we thought was an agreement with Bank of Scotland who are the major creditor of Selhurst Park Ltd. Subsequent to this agreement we have been sent a contract that does not reflect this agreement and is unworkable.
CPFC 2010 value Selhurst park as a football ground but have agreed to pay a significant premium on that. We also recognize that a property developer may pay even more for the ground on the chance that they may be able to change its use sometime in the future. The bank have made it clear that they want to help the club and don’t want to sell to a property developer now but are worried we may sell the land for development in the future, making a profit and embarrassing the bank in the process.
In order to put their minds at rest we have also agreed to an ‘anti embarrassment’ clause that allows the Bank to see a further return if we realize greater value from the ground in the future. In essence we need clarity on what that amount should be and how it is calculated. At the moment it seems the Bank want to make unlimited return in the future even if that value is created on the back of the success of the football club or money we have invested in a new infrastructure and not in appreciation of the value of the land. We believe that the maximum they should make is the difference between what we will pay for the land as a football ground and what a property developer will pay now as a development opportunity plus interest.
We are dealing totally through intermediaries and its very frustrating, as we don’t think the bank competently understand the situation we are in, or the urgency.
If we cannot reach agreement soon (we have a deadline of 3pm 1st June) Agilo have made their intention clear to sell the players and liquidate the club.Please be assured we are doing everything we can to make this happen but as we sit today the future of Crystal palace hangs in the balance and is very much in the hands of a person in a bank in Scotland whom we have never met and it seems we are not allowed to speak to.
We note the new governments commitment to sport, particularly sport in the community, Bank of Scotland is currently government owned, as such we would urge the new Prime Minister to intervene personally to resolve the situation or see a club supported by many thousands with 100 year History consigned to the scrapheap.
OR
it could be a desperate last throw of the dice from a consortium who don't have the real funds to complete the deal, and so are trying to use Palace's supporters under the threat of the club closing as a reason to get the club and ground on the cheap. The statement claimed that as it is owned by the taxpayer, RBS should accept a lesser deal for the social benefits the club brings to the local community. But that's not the Treasury's responsibility, and so I can't see RBS completely ceding to the consortium's wishes.
My biggest issue with CPFC2010 is that they believe that a bank owned by the tax payers should give them a great deal. At a time when many people are being asked to make sacrifices for the benefit of the country (Public Services being cut and taxes being increased) I don't see how they can 'demand' that the state owned bank sell them Selhurst Park cheap to potentially sell on for a huge profit in a few years time when the ground essentially belongs to the public. If they can have the ground cheap does that mean that all football clubs can be awarded a multi-million pound grant to compensate for the disparity in competition such hand outs cause?
No? I didn't think so.
Disagree about them going to the wall, but I think you make a very fair point re finances, they have to pay their debts, and be mindful of the small businesses who are creditors, and thoughtful about those made redundant.
Agree entirely, strip away the football club aspect and no one would be arguing for LBG to lower their price. The taxpayer needs to get value for its decision to nationalise the banking sector. If Palace go to the wall, they won't be the first club to and they shouldn't expect special treatment from the government in order to avoid it. How would fans of Chester, Aldershot, etc feel if they did?
If it does happen their fans shouldn't be blaming the government, the administrator, the banks or even Agilo, the only people responsible for this are Noades for splitting the club from the ground in the first place, and Jordan for getting into bed with investment houses and for making the agreement on Selhurst he did when he had supposedly 'bought' it.
Selling the ground onto a property developer !
The club will then be liquidated unless of course someone else comes forward .
This process will take a short while, how long will depend on the player sales but i suspect only a few days.
We have been told this process will begin at 3pm tomorrow unless we complete the deal we have in place with Agilo. We are unwilling to do this until we have secured the ground.
lot of bad press and recrimination also.
For refusing to be legged over ? don't think anyone bar the Palace faithful would take that view.
As a fixed- charge holder they would be paid all of their debts (or what of that debt is available) in priority to every other creditor.