[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.
[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
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.
[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?
[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.
[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?
"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."
[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.
My sister texted me from inside the building that they're "hemmed in". I am sure she will provide the necessary robust response if any stripeys think they should get taxpayers money to bail them out.
ADMINISTRATOR Brendan Guilfoyle has admitted that the deadline to begin the liquidation of Crystal Palace is likely to slip as "significant progress" has been made in the negotiations.
The CPFC 2010 consortium released a statement yesterday stating that if no deal had been agreed on the purchase of Selhurst Park by 3pm this afternoon, Guilfoyle would begin to sell off the club’s top players.
Darren Ambrose will be the first to leave with a £750,000 switch to Queens Park Rangers already agreed.
However, Guilfoyle has been informed that 2010 and Lloyds Banking Group - the chief creditors in the Selhurst Park administration - are in direct contact and that a deal is now close.
“The 3pm deadline is not set in stone by me, of course I will give 2010 the time to negotiate the deal,” he said. “The bank are telling me they are now fully engaged with the consortium and significant progress has been made on the sale of the stadium.
"Apparently they are very close to sealing a deal, so things are looking positive."
CPFC 2010 close on Selhurst Park deal
"the administrator has also confirmed that he has put the block on player sales - as he now discusses CPFC 2010 starting to fund the running of the club. "
[cite]Posted By: Friend Or Defoe[/cite]According to my source Lloyds have said they will start accepting bids for players.
Lloyds have nothing to do with the players though. That's Agilo's and the administrator's responsibility, and to a lesser extent the Orange one. Lloyds is purely to do with the ground
[quote][cite]Posted By: SparrowsLane[/cite]Stop arsing around Guilfoyle get selling ![/quote]
Dont think he will now,looks like its going through doesnt it. As much as I dont want to see palarse go under I do think that they have used the admin route to very good effect,3 times in 20 years isnt it? Something very wrong somewhere that allows a business to write off countless debts time and again only to be allowed to continue without too much reproach
If you were a bookie what would the odds be? Palace go: belly up 10/1 Sell players to survive another month 1/2 Consortium save the day 5/4 Merge with Millwall 100/1 Merge with us 200/1
Comments
It's Bank of Scotland not RBS and "unlimited percentage of profit" is very wide of the mark.
I think this is the key point.
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.
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?
Makes more sense
LMFAO
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.
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?
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.
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
ADMINISTRATOR Brendan Guilfoyle has admitted that the deadline to begin the liquidation of Crystal Palace is likely to slip as "significant progress" has been made in the negotiations.
The CPFC 2010 consortium released a statement yesterday stating that if no deal had been agreed on the purchase of Selhurst Park by 3pm this afternoon, Guilfoyle would begin to sell off the club’s top players.
Darren Ambrose will be the first to leave with a £750,000 switch to Queens Park Rangers already agreed.
However, Guilfoyle has been informed that 2010 and Lloyds Banking Group - the chief creditors in the Selhurst Park administration - are in direct contact and that a deal is now close.
“The 3pm deadline is not set in stone by me, of course I will give 2010 the time to negotiate the deal,” he said. “The bank are telling me they are now fully engaged with the consortium and significant progress has been made on the sale of the stadium.
"Apparently they are very close to sealing a deal, so things are looking positive."
"the administrator has also confirmed that he has put the block on player sales - as he now discusses CPFC 2010 starting to fund the running of the club. "
How well connected is your source? The administrator is now saying a deal is close to being agreed and the deadline is not set in stone?
...and what have Lloyds got to do with Player sales?
They are in charge of the ground issues.
Lloyds have nothing to do with the players though. That's Agilo's and the administrator's responsibility, and to a lesser extent the Orange one. Lloyds is purely to do with the ground
Dont think he will now,looks like its going through doesnt it. As much as I dont want to see palarse go under I do think that they have used the admin route to very good effect,3 times in 20 years isnt it? Something very wrong somewhere that allows a business to write off countless debts time and again only to be allowed to continue without too much reproach
Palace go:
belly up 10/1
Sell players to survive another month 1/2
Consortium save the day 5/4
Merge with Millwall 100/1
Merge with us 200/1
Have I missed any?
Oh.. Jordan tops himself 50/1