CPFC - The Finances
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 murphyn13  portsmouth 19 Jul 18 6.44am |
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Morning all, With there being considerable debate surrounding the clubs finances, who we can/can’t afford to buy over the coming weeks and the wages that are/aren’t there to be paid, the short video below is quite enlightening as to where we stand in comparison to the rest of the Premier League clubs. One thing is for certain, Parish & co have definitely put their money where their mouth is in terms of wages and transfer fees, which inevitably gives us far less wiggle room this time around, it seems:
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| Spiderman Horsham 19 Jul 18 8.11am |
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Originally posted by murphyn13
Morning all, With there being considerable debate surrounding the clubs finances, who we can/can’t afford to buy over the coming weeks and the wages that are/aren’t there to be paid, the short video below is quite enlightening as to where we stand in comparison to the rest of the Premier League clubs. One thing is for certain, Parish & co have definitely put their money where their mouth is in terms of wages and transfer fees, which inevitably gives us far less wiggle room this time around, it seems: Very Interesting thank you. I do not profess to being able to understand accounts but these do seem worrying, we have grossly overspent on wages and it would appear either the high earners will have to go or any new players will be on low wages (not exactly an attractive propositions).
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| bexleydave Barnehurst 19 Jul 18 8.14am |
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Bear in mind that this is produced by a Brighton supporter who, whilst being factual, slants his opinions towards Palace being in financial difficulties (it's the Brighton obsession).
Bexley Dave Can you hear the Brighton sing? I can't hear a ******* thing! "The most arrogant, obnoxious bunch of deluded little sun tanned, loafer wearing mummy's boys I've ever had the misfortune of having to listen to" (Burnley forum) |
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| Midlands Eagle 19 Jul 18 8.47am |
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Originally posted by bexleydave
Bear in mind that this is produced by a Brighton supporter who, whilst being factual, slants his opinions towards Palace being in financial difficulties (it's the Brighton obsession). I've watched it twice now and I think that his points are well made and the analysis is fairly accurate. He doesn't really give any strong opinions but occasionally wonders out loud such things as why Parish's company Smoke and Mirrors Ltd tripled the rent payable by CPFC which is something that dyed in the wool Palace fans have also wondered about. My only complaint (and it is very minor) is that some of the analysis is rather technical and I would have liked the narrator to speak a bit slower to allow me time to digest the information before moving on to the next point
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| bexleydave Barnehurst 19 Jul 18 8.59am |
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Originally posted by Midlands Eagle
I've watched it twice now and I think that his points are well made and the analysis is fairly accurate. He doesn't really give any strong opinions but occasionally wonders out loud such things as why Parish's company Smoke and Mirrors Ltd tripled the rent payable by CPFC which is something that dyed in the wool Palace fans have also wondered about. My only complaint (and it is very minor) is that some of the analysis is rather technical and I would have liked the narrator to speak a bit slower to allow me time to digest the information before moving on to the next point
Bexley Dave Can you hear the Brighton sing? I can't hear a ******* thing! "The most arrogant, obnoxious bunch of deluded little sun tanned, loafer wearing mummy's boys I've ever had the misfortune of having to listen to" (Burnley forum) |
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taylors lovechild  19 Jul 18 9.57am |
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I was reviewing the other PL teams transfer activity for this summer and I didn't realise quite how huge West Ham's shopping bill is. SSN had it at around £95 million, with no player sales. Liverpool have spent over £100m but they were CL finalists; West Ham nearly got relegated. Given they spent quite a bit last summer too it does make you question the whole FFP thing (I'm sure it can be explained by someone with a better understanding). It also looks like Wolves are going to top £50m and even Cardiff are nearing £30m. It looks like this season is going to be even tougher to stay up.
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| Charles Forest Hill 19 Jul 18 10.21am |
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Originally posted by Spiderman
Very Interesting thank you. I do not profess to being able to understand accounts but these do seem worrying, we have grossly overspent on wages and it would appear either the high earners will have to go or any new players will be on low wages (not exactly an attractive propositions). But we still made a profit! Less wriggle room but no need for panic.
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| bexleydave Barnehurst 19 Jul 18 10.32am |
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Originally posted by Spiderman
Very Interesting thank you. I do not profess to being able to understand accounts but these do seem worrying, we have grossly overspent on wages and it would appear either the high earners will have to go or any new players will be on low wages (not exactly an attractive propositions). Could someone explain why the Club require an office in Soho? Also as the rent has been tripled why they are not seeking a cheaper option (is this because a company part-owned by SP are renting it to the club?) Is St Steve's halo slipping? The other major shareholders must be happy with what the club pays Steve Parish for his premises and services, otherwise they wouldn't permit it. If they're OK with it then why should we be bothered. Whatever anyone else might say, there's definately an attempt, in that analysis of our accounts, to dig Parish out on what he receives from the club, and trust me Brighton are all over it. Let's not start doing the same shall we?
Bexley Dave Can you hear the Brighton sing? I can't hear a ******* thing! "The most arrogant, obnoxious bunch of deluded little sun tanned, loafer wearing mummy's boys I've ever had the misfortune of having to listen to" (Burnley forum) |
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| orpingtoneagle Orpington 19 Jul 18 10.33am |
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But it is complex and has been deliberately made more complex by the owners.
But all roads do seem to lead to ways the owners take money out of the club via an opaque structure.
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| bexleydave Barnehurst 19 Jul 18 10.36am |
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Originally posted by orpingtoneagle
But it is complex and has been deliberately made more complex by the owners. Smoke and Mirrors sums it up. But all roads do seem to lead to ways the owners take money out of the club via an opaque structure.
Bexley Dave Can you hear the Brighton sing? I can't hear a ******* thing! "The most arrogant, obnoxious bunch of deluded little sun tanned, loafer wearing mummy's boys I've ever had the misfortune of having to listen to" (Burnley forum) |
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| Midlands Eagle 19 Jul 18 10.41am |
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Originally posted by orpingtoneagle
But all roads do seem to lead to ways the owners take money out of the club via an opaque structure.
There was obviously a good reason why Parish's bonus was paid to him and subsequently re-invested after a hefty sum was paid to HMRC but unfortunately we don't know what that reason is and I can't even hazard a guess unless it was an attempt to retain parity of investment with the Americans
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| orpingtoneagle Orpington 19 Jul 18 10.51am |
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Thinking off the hefty rents and things like service charges paid across the grouped and associated corporate and other structures. As someone else commented do we really need to maintain offices in Soho? I don't see other clubs feeling the need.
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