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April 24 2024 4.09pm

A few thoughts on why we have no money to spend

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View Holton thunderbolt's Profile Holton thunderbolt Flag 23 Aug 20 1.44pm Send a Private Message to Holton thunderbolt Add Holton thunderbolt as a friend

I do not believe we will be spending any serious money this year or next either on players or the new stand .Covid is the perfect excuse for owners who despite being exceedingly wealthy both individually and corporately are reportedly known in the States to be one of the most frugal in the NBA and were when they bought 60% of our shareholders shares for approx £60 m with the deal as reported being for them to loan back that money to the club to help finance the build of the standThat could well be why we have no stand and ongoing “issues” of 106 agreements with the council and difficulties in buying car park off Sainsbury’s etc etc
Unlike other premiership smaller clubs whose Chairman and directors are unpaid our chairman appears from our accounts to have a salary of £2.5 million plus 1mill bonus for staying up plus other possible related commercial agreements for head office property and marketing etc.A lot of money over 8 years of premiership life!
Who is going to buy the club with these expenses,a stand to be built and an ageing squad to rebuild when our owners would in press reports value the club north of £200 million.?Despite our catchment area for young players and existing fan base etc there will be plenty of other more cost effective clubs available post COVID for very wealthy owners to purchase.If we remain with our existing shareholders who do not want to invest their own money and indeed take out what they can we will almost certainly be relegated despite the sterling efforts of the last 8 years to cling on.The academy will not produce stars to sell quickly enough to stop this inevitable process.Of course this is only an opinion but if you look at our recent transfer windows despite selling Wan Bissaka it could unfortunately be the truth of the matter.

 

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View ASCPFC's Profile ASCPFC Flag Pro-Cathedral/caravan park 23 Aug 20 4.53pm Send a Private Message to ASCPFC Add ASCPFC as a friend

The gate painting was pretty expensive but can be written off over three years for tax purposes.

 


Red and Blue Army!

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View Midlands Eagle's Profile Midlands Eagle Flag 23 Aug 20 5.42pm Send a Private Message to Midlands Eagle Add Midlands Eagle as a friend

Originally posted by Holton thunderbolt


Unlike other premiership smaller clubs whose Chairman and directors are unpaid our chairman appears from our accounts to have a salary of £2.5 million plus 1mill bonus for staying up plus other possible related commercial agreements for head office property and marketing etc.

Who is going to buy the club with these expenses,

The main reason why Palace is unsaleable is that Parish wants to hang on to a minority shareholding and continue to run the club and anyone that is willing to fork out a couple of hundred million will want total control

 

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View Ali_Campbell's Profile Ali_Campbell Flag New Addington 23 Aug 20 6.06pm Send a Private Message to Ali_Campbell Add Ali_Campbell as a friend

I think the biggest problem is that 80% of the clubs income is paid on wages. This is the main reason why we cannot compete financially with other teams.

I agree with the questions raised about Parish’s salary, but do not let this cloud your judgement on other chairman/Owners. West Ham’s owners as one example don’t take a salary but they did loan the club money at questionable rates which would far exceed the salary being taken by SP. Do not get me started on the Glaziers at United.

Anyway. We have just paid 20m for a new academy and we have paid back some of the debts.

The thing with the virus and football is that we are a club that does not really rely on our hospitality income (arsenal as an example do). So our outgoings is pretty much covered by TV revenue. However the big clubs use TV+Hospitality. Now when you have no hospitality coming in for the foreseeable and you have an ozil on 300k a week. It means your transfer kitty is impacted. This means not so many clubs will be in for so many players which means the market is diluted.

Hopefully we can capitalise on this and get some players in that we would usually lose to other clubs.

 

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View davehuggins's Profile davehuggins Flag 23 Aug 20 6.20pm Send a Private Message to davehuggins Add davehuggins as a friend

I have said for ages now we need investment and this lack of will be our downfall I am sorry to say. Previous bad windows have now left us with little or no money. Great shame for a club with our potential, a lot of promises and no end product!!

 

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View sotac464's Profile sotac464 Flag Berkshire 23 Aug 20 6.21pm Send a Private Message to sotac464 Add sotac464 as a friend

Originally posted by Midlands Eagle

The main reason why Palace is unsaleable is that Parish wants to hang on to a minority shareholding and continue to run the club and anyone that is willing to fork out a couple of hundred million will want total control

Oh come on that is not the main reason at all, Parish has said if the right owners come along and are willing to invest, he is willing to sell his share.

We are simply not an attractive proposition, ageing squad, run down stadium. New owner's wouldn't take over for the love of Palace, they would buy us as an investment, to then sell on at a profit.

Any new owner coming in would have to shell out investment in younger players, upgrading the stadium. So the £200 million to buy the club, suddenly turns into £400-500 million.

Not such an attractive proposition, considering Newcastle already have the stadium in place, and Ashley still can't sell, despite being on the market for the past 5 years.

 


My equalibrium unbalanced me. Paul Draper Brighton 19/2/2018

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View robdave2k's Profile robdave2k Flag 23 Aug 20 6.34pm Send a Private Message to robdave2k Add robdave2k as a friend

Originally posted by ASCPFC

The gate painting was pretty expensive but can be written off over three years for tax purposes.

The gate painting would be written off in one year. It’s not a capital asset.

I always struggled with girls, it’s a mystery why.

 

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View Rudi Hedman's Profile Rudi Hedman Flag Caterham 23 Aug 20 6.48pm Send a Private Message to Rudi Hedman Add Rudi Hedman as a friend

Originally posted by robdave2k

The gate painting would be written off in one year. It’s not a capital asset.

I always struggled with girls, it’s a mystery why.

If you practiced ‘‘wax, on, wax off’’ and ‘’paint the fence’’ you would’ve caught the prize catch and fought off the competition.

 


COYP

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View palace99's Profile palace99 Flag New Mills 23 Aug 20 7.47pm Send a Private Message to palace99 Add palace99 as a friend

Originally posted by Ali_Campbell

I think the biggest problem is that 80% of the clubs income is paid on wages. This is the main reason why we cannot compete financially with other teams.

I agree with the questions raised about Parish’s salary, but do not let this cloud your judgement on other chairman/Owners. West Ham’s owners as one example don’t take a salary but they did loan the club money at questionable rates which would far exceed the salary being taken by SP. Do not get me started on the Glaziers at United.

Anyway. We have just paid 20m for a new academy and we have paid back some of the debts.

The thing with the virus and football is that we are a club that does not really rely on our hospitality income (arsenal as an example do). So our outgoings is pretty much covered by TV revenue. However the big clubs use TV+Hospitality. Now when you have no hospitality coming in for the foreseeable and you have an ozil on 300k a week. It means your transfer kitty is impacted. This means not so many clubs will be in for so many players which means the market is diluted.

Hopefully we can capitalise on this and get some players in that we would usually lose to other clubs.

i agree SP has let wages, including his own, get too high. Most 1st teamers are now on £60k plus per week and we know top 4 are on over £100k. If all 20 came down by an average of £10k less per week that's £200k a week saving and £10m per year.

These wages would still be very competitive at £10k less a week e.g. Jimmy Mac on £50k per week rather than £60k etc

 

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View HKOwen's Profile HKOwen Flag Hong Kong 24 Aug 20 8.37am Send a Private Message to HKOwen Add HKOwen as a friend

Is it in the accounts what percentage SP actually owns now?

 


Responsibility Deficit Disorder is a medical condition. Symptoms include inability to be corrected when wrong, false sense of superiority, desire to share personal info no else cares about, general hubris. It's a medical issue rather than pure arrogance.

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View taylors lovechild's Profile taylors lovechild Flag 24 Aug 20 8.54am Send a Private Message to taylors lovechild Add taylors lovechild as a friend

I think the issue is that our strategy has been to sign experienced PL players and these carry higher wages. Other clubs of our size have with varying degrees of success signed foreign on lower league players who they can tie down on smaller contracts. 8 years in the PL has shown that however much we might complain our strategy has worked so far, with that experience coming in handy at key moments.

If we were to sell Sakho, Bentenke and Wilf then that would make a huge dent in our wage bill, providing we don't sign new players on similarly high wages.

The one thing that Roy repeatedly stated was that the club are looking to invest in youth, and that in theory should help to bring down the wage bill while also having the potential to create more saleable assets (I don't like talking about players in this way, but as this is a "business" thread).

 

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View robdave2k's Profile robdave2k Flag 24 Aug 20 8.58am Send a Private Message to robdave2k Add robdave2k as a friend

Originally posted by Rudi Hedman

If you practiced ‘‘wax, on, wax off’’ and ‘’paint the fence’’ you would’ve caught the prize catch and fought off the competition.

You missed sand the floor!

 

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