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February 26 2020 9.44pm

Palace in massive debt - rumour

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View robdave2k's Profile robdave2k Flag Corby 08 Feb 20 8.08am Send a Private Message to robdave2k Add robdave2k as a friend

Originally posted by kenners46

We need to get Bournemouth's accountant he will show a profit in no time

No we don’t.

You can turn a loss into a profit and visa versa quite easily.

Cash is king for a reason and the taxman and others generally would prefer to be paid in cash not profit.

 

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View robdave2k's Profile robdave2k Flag Corby 08 Feb 20 8.11am Send a Private Message to robdave2k Add robdave2k as a friend

Originally posted by Galv

I've been told by two separate accountants who are clients of mine that we are around £180 million in debt and are losing around £30 million a year. I've got no idea as the accounts are way over my head. Can any Palace boffins shed any light on this, any truth in it?

They probably want to quit being accountants then. As

1. We aren’t. Unless
2. We are - but the only way you could know that is with inside information, in which case they aren’t the sharpest tools for saying it.

 

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View Midlands Eagle's Profile Midlands Eagle Flag 08 Feb 20 8.54am Send a Private Message to Midlands Eagle Add Midlands Eagle as a friend

Originally posted by Midlands Eagle

It's fairly obvious that we have financial issues but I doubt whether they are anywhere near the scale that the OP mentioned.

If as he says we are losing £30 pa and are £180m in debt then that means that in the year ended 30th June 2018 we would have been £150m in debt and we were not

I've just looked up the accounts for the year ended 30th June 2018 and according to the consolidated accounts we made an operating profit of £9m but a net loss of £35m after player trading and we had net assets of £3.4m

To turn the net assets position of £3.4m into a deficit of £180m would not only imply massive losses for the year but also fraudulent activity by the directors and that just isn't the case

 

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View beak's Profile beak Flag croydon 08 Feb 20 9.19am Send a Private Message to beak Add beak as a friend

I'm very surprised that this thread is allowed, the allegation is scurrilous. I am not a legal expert but I wouldn't put out doubtful financial Information that is so easy to rebut.

 

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View braunstoneagle's Profile braunstoneagle Flag the middle of bumf*** nowhere... 08 Feb 20 9.50am Send a Private Message to braunstoneagle Add braunstoneagle as a friend

for clarity, rather than hearsay & rumours lets have facts.

there are 2 people worth reading IMO opinion and they are keiran maguire (price of football) & the blog swiss ramble...

links on cpfc finances below...

[Link]

 


‘Football isn’t instant coffee. You have to work at it. You must grow the bean, grind it.’ Ian Holloway


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View Rudi Hedman's Profile Rudi Hedman Flag Caterham 08 Feb 20 9.57am Send a Private Message to Rudi Hedman Add Rudi Hedman as a friend

Originally posted by beak

I'm very surprised that this thread is allowed, the allegation is scurrilous. I am not a legal expert but I wouldn't put out doubtful financial Information that is so easy to rebut.

I have to agree. If such a negative rumour is in no way possibly true, which I knew it wasn’t true, then I think it should be deleted. The problem is in football you have all intelligence levels watching and reading so you can count on some spreading this around.

 


COYP

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View monkey's Profile monkey Flag 08 Feb 20 10.10am Send a Private Message to monkey Add monkey as a friend

Thankfully I don’t have to run the club, so I don’t take much notice of the financial stuff, I just go to watch the football, no wonder Parish is looking gaunt these days, it must be a nightmare the sort of money involved in football now. But then I expect his lottery win type salary eases the pressure a bit

 

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View Fatherken's Profile Fatherken Flag 08 Feb 20 11.10am Send a Private Message to Fatherken Add Fatherken as a friend

Rumour put out by CPFC , so when the accounts do come out and show a loss we will all say " it is not as bad as we thought "

 

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View beak's Profile beak Flag croydon 08 Feb 20 12.01pm Send a Private Message to beak Add beak as a friend

Originally posted by Rudi Hedman

I have to agree. If such a negative rumour is in no way possibly true, which I knew it wasn’t true, then I think it should be deleted. The problem is in football you have all intelligence levels watching and reading so you can count on some spreading this around.

How does this kind of gutter rumour benefit CPFC ? Surely it can only do damage and ruin trading relationships with companies that the club deal with.

 

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View CPFC1965's Profile CPFC1965 Flag Warrington 08 Feb 20 2.20pm Send a Private Message to CPFC1965 Add CPFC1965 as a friend

Yet another bulls##t ITK thread.

 

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View OldFella's Profile OldFella Flag London 08 Feb 20 9.27pm Send a Private Message to OldFella Add OldFella as a friend

Originally posted by braunstoneagle

agreed, since we have been in the PL we have made approx £10m f
profit.

our losses in the market have have been made up by the yannick & awb sales...however we have spent an awful lot more than that.

once we shed a few high earners from the wage bill we will more than likely break even on a year to year basis...which shows amazing management of the club, especially given teams like everton are losing £100m a season & watford are £160m in debt, and both will fail FFP in the near future.

Usual sycophantic nonsense. You on SP's payroll?

 


Jackson.. Wan Bissaka.... Sansom.. Nicholas.. Cannon.. Cahill.... Zaha... Thomas.. Wright.. Holton.. Rogers.. that should do it..

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View braunstoneagle's Profile braunstoneagle Flag the middle of bumf*** nowhere... 08 Feb 20 9.35pm Send a Private Message to braunstoneagle Add braunstoneagle as a friend

Originally posted by OldFella

Usual sycophantic nonsense. You on SP's payroll?

no, not at all...i have just taken the time to understand the football club i support before passing comment...something a lot of people should do...

 


‘Football isn’t instant coffee. You have to work at it. You must grow the bean, grind it.’ Ian Holloway


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