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Official - Palace In Administration

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  • Friend Or Defoe
    Friend Or Defoe Posts: 18,081
    [cite]Posted By: InCurbsWeTrusted[/cite]
    [cite]Posted By: Friend Or Defoe[/cite]...the governor of the Bank Of Scotland has agreed to sell the ground to CP2010...
    That hasn't hit AP or Reuters yet, if true. Hope it is true, for their fans. Hate the club, but every CPFC fan I've known/worked with have been decent, like-minded people.
    Also Live8 has managed to eradicate third world debt!
  • Stu_of_Kunming
    Stu_of_Kunming Posts: 17,117
    [cite]Posted By: InCurbsWeTrusted[/cite]
    [cite]Posted By: Friend Or Defoe[/cite]...the governor of the Bank Of Scotland has agreed to sell the ground to CP2010...
    That hasn't hit AP or Reuters yet, if true. Hope it is true, for their fans. Hate the club, but every CPFC fan I've known/worked with have been decent, like-minded people.

    I think FOD's post went a little over your head mate....
  • IA
    IA Posts: 6,103
    [cite]Posted By: Friend Or Defoe[/cite]
    [cite]Posted By: InCurbsWeTrusted[/cite]
    [cite]Posted By: Friend Or Defoe[/cite]...the governor of the Bank Of Scotland has agreed to sell the ground to CP2010...
    That hasn't hit AP or Reuters yet, if true. Hope it is true, for their fans. Hate the club, but every CPFC fan I've known/worked with have been decent, like-minded people.
    Also Live8 has managed to eradicate third world debt!

    Poverty is history? Great!
  • nth_london_addick
    nth_london_addick Posts: 35,919
    cheaper drugs now
  • C.Walsh'sLoveChild
    C.Walsh'sLoveChild Posts: 3,334
    Am at gresham street now. About 100 of them here. Seems more police than palace. Not an awful lot going on
  • CAFCsayer
    CAFCsayer Posts: 10,223
    fans got into the bank building, having a massive game of keepy-up
  • nth_london_addick
    nth_london_addick Posts: 35,919
    50 mins till the fire sale starts i hope its like the Harrods sale everyone rushes in and buys the lot


    cant wait for them to tumble
  • InCurbsWeTrusted
    InCurbsWeTrusted Posts: 300
    [cite]Posted By: Stu of HU5[/cite]I think FOD's post went a little over your head mate....
    ;D Fair do's!
  • Kap10
    Kap10 Posts: 15,563
    [quote][cite]Posted By: Stu of HU5[/cite][quote][cite]Posted By: InCurbsWeTrusted[/cite][quote][cite]Posted By: Friend Or Defoe[/cite]...the governor of the Bank Of Scotland has agreed to sell the ground to CP2010...[/quote]
    That hasn't hit AP or Reuters yet, if true. Hope it is true, for their fans. Hate the club, but every CPFC fan I've known/worked with have been decent, like-minded people.[/quote]

    I think FOD's post went a little over your head mate....[/quote]

    Not withstanding the whoosh, I thought that lloyds had agreed to sell selhurst to CP2010 at a discounted price, but the sticking point was that they then wanted a share of any future sale, which seems fair enough to me. The fans should be protesting to CP20101 who want to make a buck out of the ground, when they have got it on the cheap
  • LawrieAbrahams
    LawrieAbrahams Posts: 3,779
    [cite]Posted By: Red_in_SE8[/cite]Wyn Grant, from the Political Economy of Footbal, has an interesting (or maybe disturbing) view on it all today!

    Link

    Interesting. He predicts a last minute deal (which always seems to happen). But he also suggests a merger with us!! No thanks.
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  • CAFCsayer
    CAFCsayer Posts: 10,223
    [cite]Posted By: Kap10[/cite]
    [cite]Posted By: Stu of HU5[/cite]
    [cite]Posted By: InCurbsWeTrusted[/cite]
    [cite]Posted By: Friend Or Defoe[/cite]...the governor of the Bank Of Scotland has agreed to sell the ground to CP2010...
    That hasn't hit AP or Reuters yet, if true. Hope it is true, for their fans. Hate the club, but every CPFC fan I've known/worked with have been decent, like-minded people.

    I think FOD's post went a little over your head mate....

    Not withstanding the whoosh, I thought that lloyds had agreed to sell selhurst to CP2010 at a discounted price, but the sticking point was that they then wanted a share of any future sale, which seems fair enough to me. The fans should be protesting to CP20101 who want to make a buck out of the ground, when they have got it on the cheap

    Its the fact that RBS want access to an unlimited percentage of profit that's the sticking point
  • se9addick
    se9addick Posts: 32,034
    Just been for a lunchtime run through the city and saw a couple of fans near Gresham St. fair play to them. If Palace go bust then that's one of our main rivals gone, and sureley local rivalry is one of the better parts of supporting a "real" club and not being some glory boy United fan.
  • No.1 in South London
    No.1 in South London Posts: 3,960
    [cite]Posted By: UP...THE...ADDICKS[/cite]
    [cite]Posted By: Kap10[/cite]
    [cite]Posted By: Stu of HU5[/cite]
    [cite]Posted By: InCurbsWeTrusted[/cite]
    [cite]Posted By: Friend Or Defoe[/cite]...the governor of the Bank Of Scotland has agreed to sell the ground to CP2010...
    That hasn't hit AP or Reuters yet, if true. Hope it is true, for their fans. Hate the club, but every CPFC fan I've known/worked with have been decent, like-minded people.

    I think FOD's post went a little over your head mate....

    Not withstanding the whoosh, I thought that lloyds had agreed to sell selhurst to CP2010 at a discounted price, but the sticking point was that they then wanted a share of any future sale, which seems fair enough to me. The fans should be protesting to CP20101 who want to make a buck out of the ground, when they have got it on the cheap

    Its the fact that RBS want access to an unlimited percentage of profit that's the sticking point

    It's Bank of Scotland not RBS and "unlimited percentage of profit" is very wide of the mark.
  • bingaddick
    bingaddick Posts: 8,181
    [cite]Posted By: Rothko[/cite]What Guilfoyle also said is that once the sale of players begun, he expected 2010 to walk from a deal, as the asset of the business would be gone

    I think this is the key point.
  • Folev the red
    Folev the red Posts: 2,087
    If here, and a big if.
    Could man city(a wealthy club), theoretically ofcourse, give palace a huge sum of money to help them. I understand you cant just give another club money, so suppose they a sign one of their players for 20million (random number) and then loan him back.
    I know this wont happen but am curious as to the limits of which palace can be helped.
  • CAFCsayer
    CAFCsayer Posts: 10,223
    [cite]Posted By: No.1 in South London[/cite]
    [cite]Posted By: UP...THE...ADDICKS[/cite]
    [cite]Posted By: Kap10[/cite]
    [cite]Posted By: Stu of HU5[/cite]
    [cite]Posted By: InCurbsWeTrusted[/cite]
    [cite]Posted By: Friend Or Defoe[/cite]...the governor of the Bank Of Scotland has agreed to sell the ground to CP2010...
    That hasn't hit AP or Reuters yet, if true. Hope it is true, for their fans. Hate the club, but every CPFC fan I've known/worked with have been decent, like-minded people.

    I think FOD's post went a little over your head mate....

    Not withstanding the whoosh, I thought that lloyds had agreed to sell selhurst to CP2010 at a discounted price, but the sticking point was that they then wanted a share of any future sale, which seems fair enough to me. The fans should be protesting to CP20101 who want to make a buck out of the ground, when they have got it on the cheap

    Its the fact that RBS want access to an unlimited percentage of profit that's the sticking point
    "unlimited percentage of profit" is very wide of the mark.

    Really? Ahh, only what i've been old. Hadn't CPFC2010 agreed a deal for the ground, then when the contract came through it wern't as agreed?
  • Rothko
    Rothko Posts: 18,801
    http://fypfanzine.wordpress.com/
  • MrOneLung
    MrOneLung Posts: 26,847
    It's more that they want a percentage of any profit, with no limit on the amount rather than no limit on the percentage.
  • CAFCsayer
    CAFCsayer Posts: 10,223
    [cite]Posted By: MrOneLung[/cite]It's more that they want a percentage of any profit, with no limit on the amount rather than no limit on the percentage.

    Makes more sense :)
  • NorthStandUltra
    NorthStandUltra Posts: 2,538
    Talksh*te have just said the deal has collapsed.
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  • northstandsteve
    northstandsteve Posts: 14,328
    sky sports said lloyds are hopeful of it being concluded
  • Curb_It
    Curb_It Posts: 21,219
    Church bell rings 3 times outside my City office.
  • Rothko
    Rothko Posts: 18,801
    @fypfanzine on twitter - Lloyds 'dont want cpfc to go bust' talks are ongoing. 'committed to find solution'.
  • Leroy Ambrose
    Leroy Ambrose Posts: 14,436
    [cite]Posted By: WestStandCookie[/cite]Talksh*te have just said the deal has collapsed.
    [cite]Posted By: northstandsteve[/cite]sky sports said lloyds are hopeful of it being concluded

    LMFAO
  • Friend Or Defoe
    Friend Or Defoe Posts: 18,081
    A Palace friend outside Lloyds claims that they've gone!
  • allez les addicks
    allez les addicks Posts: 1,432
    [cite]Posted By: northstandsteve[/cite]sky sports said lloyds are hopeful of it being concluded

    personally I thought that statement said nothing. "Lloyds note the affection the club has to its fans". Brilliant, not gonna mean they will accept a lesser amount though is it? and nor should they.
    [cite]Posted By: UP...THE...ADDICKS[/cite]
    Really? Ahh, only what i've been old. Hadn't CPFC2010 agreed a deal for the ground, then when the contract came through it wern't as agreed?

    That's what they claim, but they're not gonna state that the deal hasn't gone through because they're being tight and won't pay the going rate, are they?
  • Rothko
    Rothko Posts: 18,801
    "Lloyds Banking Group very much appreciates the importance of the Club to its loyal fans and the local community. We remain committed to seeking a durable solution. We are currently in discussions with the relevant parties and it would not be appropriate to comment further."
  • No.1 in South London
    No.1 in South London Posts: 3,960
    [cite]Posted By: MrOneLung[/cite]It's more that they want a percentage of any profit, with no limit on the amount rather than no limit on the percentage.

    exactly, CPFC are trying to limit any future payment to BoS to the difference between the agreed sale price (reported between £3M-£4M) and the current market value (this could also be a sticking point) + interest (currently 0.5%) - not much value in that for BoS should land values increase and especially it is sold to property developers in the future.

    So worse case for CPFC is that they only pay £3m up front for something that Ron Noades sold recently for £12m and only want to pay the difference between the value to a developer at todays value less the £3m should they be in a position to sell it for considerably more in the future. They are trying to limit their spend as they know they have to make a significant investment in the near future if they want to remain at Selhurst (safty certificate ensures they need to spend here) or they will have to fund a new stadium. A rise in the value of Selhurst Park in the future would aid this if they get the deal they want. They are looking for a deal that has no down side and also want to try and find a way of protecting any investment they have to make to get the ground up to standard. It is not the banks fault that previous owners of Selhurst Park have failed to keep the stadium in a decent state of repair.
  • Rothko
    Rothko Posts: 18,801
    That's a really hedged statement by Lloyds
  • Swisdom
    Swisdom Posts: 14,977
    [cite]Posted By: Friend Or Defoe[/cite]A Palace friend outside Lloyds claims that they've gone!

    As in gone broke?

    Or the fans have gone away?

    Ambiguity is a bad thing FOD - clarify pls.....

    *runs off to get party poppers, bunting and streamers

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