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Crystal Palace...

Dibden Purlieu Saint

By Dibden Purlieu Saint,
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Prince Jazzbo

Prince Jazzbo

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Apparently Duckworth and Lewis have been called in to develop a calculation to determine what should happen should Crystal Palace be liquidated. This will be based around number of goals scored, the number of corners, home and away attendances, and the OS Grid Reference of stadia.

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dellboypete

dellboypete

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This will be a sad day for football if they go out of business. Another club screwed by the league. OK they may have overspent but had they not had the 10pt deduction they may havemade the po's.

 

However, I look at it from our perspective - this time last year we were in exactly the same position and I thought that there was a real chance that we would go out of business (see other thread). We relied on people like Leon Crouch to pay the salaries - if it wasn't for him we might have folded.

 

I'm no fan of CP but I do feel for their supporters and hope they survive

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SaintRichmond

SaintRichmond

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They have to find a buyer by 3pm today. Not likely to happen at all. Otherwise I wouldn't have posted it.

 

As I understand it, they do have a buyer, but the buyer wants to ensure that they have Selhurst Park to play on ( logical)

 

The stumbling block is the RBS who are selling the ground separately, and their "plans" are less than workable

 

Typical of a Bank to Kok up transactions relating to genuine purchases such as these, IMHO:cool:

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ludgershallsaint

ludgershallsaint

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As I understand it, they do have a buyer, but the buyer wants to ensure that they have Selhurst Park to play on ( logical)

 

The stumbling block is the RBS who are selling the ground separately, and their "plans" are less than workable

 

Typical of a Bank to Kok up transactions relating to genuine purchases such as these, IMHO:cool:

 

 

As I understand it it is all about what happens if the new owners sell the ground for property development in the future. They would, obviously, get a lot more than they are paying for its use as a football stadium now.

 

The buyers want to do something around the difference today between sports and residential values (factoring in interest etc.) if they sell. The bank want something that is more in their favour (I think based on what they actually get for it in the future). The potential buyers are not happy as they claim they would not get anything back if they invested in the ground between now and any future move.

 

All made more difficult because there are two insolvent companies; one that owns the ground and the football club.

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dubai_phil

dubai_phil

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A sad mess and shows the dangers of allowing a Stadium to be owned by "A.N. Other entity"

 

RBS seem to be a pain to deal with at the moment as they are terrified of Public Opinion believing that they may have sold something off for a pound less than they could have got for it in case Public Opinion slates the management (after all you lot own RBS to an extent)

 

There but for the grace of God went us. But at least Ruddy Cheeks made sure we had a stadium of our own and thank fook we managed to keep hold of it during the dark days.

 

Brinkmanship has happened in almost every admin in football CP is different as the land value is worth far more in London as Housing/Commercial.

 

Don't like them or the area of London but they don't deserve this and it is NOT right, fair or equitable that the CHEATS are still going.

 

Sheff Wednesday's fans must be biting their finger nails and hoping though. Expect their forums are full of it today

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Sam

Sam

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For the sake of clarity and the avoidance of doubt, it is Bank of Scotland that own the ground, not RBS.

 

Still taxpayer owned though so just as likely to shaft the club/new consortium.

 

As mentioned, BOS are under heavy pressure to maximise the return on their assets to ensure satisfactory repayment of..........................us!

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Under Weststand

Under Weststand

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A sad mess and shows the dangers of allowing a Stadium to be owned by "A.N. Other entity"

 

There but for the grace of God went us. But at least Ruddy Cheeks made sure we had a stadium of our own and thank fook we managed to keep hold of it during the dark days.

 

Brinkmanship has happened in almost every admin in football CP is different as the land value is worth far more in London as Housing/Commercial.

Sums it all up nicely! unless the consortium come up with the price wanted by RBS then it looks grim for Palace. Will be a sad day for them & we all know how their feeling as we came so close last year. I for one hope they come through this today & deal can be done to save them.

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alpine_saint

alpine_saint

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As I understand it, they do have a buyer, but the buyer wants to ensure that they have Selhurst Park to play on ( logical)

 

The stumbling block is the RBS who are selling the ground separately, and their "plans" are less than workable

 

Typical of a Bank to Kok up transactions relating to genuine purchases such as these, IMHO:cool:

 

Typical RBS. They will screw any British institution to make up for Fred The Shred's f**k-ups.

 

They funded Kraft's buy-out of Cadburys too.

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Kingsland Nick

Kingsland Nick

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They have to find a buyer by 3pm today. Not likely to happen at all. Otherwise I wouldn't have posted it.

If they don't find a buyer by 3 pm today they will have to sell players. If they run out of players to sell they will go into liquidation, but they should survive for a while.

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SuperSAINT

SuperSAINT

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Well' date=' if we give them £700k for Danns, they will be 10% of the way there. I'll suggest it to AP...[/quote']

 

I'd rather offer them the money than wait until he's free - Can't see us EVER getting him if he's a free agent. I think he'll def end up at QPR.

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Dibden Purlieu Saint

Dibden Purlieu Saint

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If they don't find a buyer by 3 pm today they will have to sell players. If they run out of players to sell they will go into liquidation, but they should survive for a while.

 

Nope, they will liquidate as the buyer will pull out as soon as the administrator sells any players. It means that the administrator will selll off all the assets to retain as much money as possible for the creditors.

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gogo_saint

gogo_saint

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Just spoke to my Palace supporting mate, he's very negative. Thay haven't got the players who are worth enough to cover the debts should they want/choose/be allowed to sell. (Bear in mind their best player, Ambrose went for £750k to QPR). He said liquidation is most likely outcome... He also told me we should get Alan Lee!

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the saint in winchester

the saint in winchester

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What I frown at is "if we don't get the money, we'll be forced to sell players."

 

So ... sell players then! It's what we did year after year to keep going - selling an asset or two to generate working capital. It's not unheard of, yet some clubs seem to think it's a last resort.

 

I understand the consortium have the money, but the delay is to guarantee they will have Selhurst Park to play on next season. I'm sure if they commit to the purchase, BoS will ensure the ground is available.

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JoeShmoe

JoeShmoe

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From the BBC

 

1451: A lot of you are worried about Crystal Palace and their very serious threat of liquidation and it's impossible not to share your concerns. Here's the latest quote from Brendan Guilfoyle, the administrator put in charge of the Eagles in January: "I've already made the calls [to other clubs]. What I'll actually do after the [1500 BST] deadline is start selling players. The enquiries are out, offers have been received"

 

I wonder if that means we have formally offered for a few of the players already? Could Danns, Butterfield etc be Saints players by tonight?

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Flyer

Flyer

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I wonder if that means we have formally offered for a few of the players already? Could Danns, Butterfield etc be Saints players by tonight?

 

I doubt it, theyve agreed a 750k deal for Ambrose to QPR, hes done the medical and agreed terms. They just have to sign it off and he will be the 1st one to go. That will keep them running for a while.

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Window Cleaner

Window Cleaner

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but at the time of publishing, 15:36 (I think), it was too late as L Day was 15:00?? :rolleyes:

 

as usual these final deadlines are just a gee up for buyers or to get ransom money paid or whatever. Hardly anyone takes any notice of 'final delays' nowadays or any other interdiction for that matter. Unless you're prepare to carry out whatever sanction is on offer for not sticking to the deadline it's just all hot air. Can't remember who said it but Never issue menaces without being prepared to carry out the sanction is a good policy. Most Israeli governments swear by it.:mad:

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SaintJackoInHurworth

SaintJackoInHurworth

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Looks like they are safe, press are saying a deal will be done and no players sold.

 

Crystal Palace are saved from extinction

 

Crystal Palace have been saved from extinction after an agreement was reached in principle for CPFC 2010 to buy the club and Selhurst Park.

 

Full story to follow.

 

http://news.bbc.co.uk/sport1/hi/football/teams/c/crystal_palace/8714650.stm at 4.36pm

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alpine_saint

alpine_saint

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Crystal Palace are saved from extinction

 

Crystal Palace have been saved from extinction after an agreement was reached in principle for CPFC 2010 to buy the club and Selhurst Park.

 

Full story to follow.

 

http://news.bbc.co.uk/sport1/hi/football/teams/c/crystal_palace/8714650.stm at 4.36pm

 

GreaT news.

 

I dont want to see any old famous club go out of business and their name pass into history.

 

Oh, except Portsmuff of course..

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