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November 29 2022 3.51pm

Harris and Blitzer, Chelsea

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View Slimey Toad's Profile Slimey Toad Flag Karsiyaka, North Cyprus 25 Mar 22 9.36am Send a Private Message to Slimey Toad Add Slimey Toad as a friend

I would much rather be run by a couple of Americans, perceived as tight wads but have still funded a top-notch academy, than a representative of a nation state which executes people without trial.

There are always negatives but the positives outweigh them (IMO).

 

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View Painter's Profile Painter Flag Croydon 25 Mar 22 9.44am Send a Private Message to Painter Add Painter as a friend

The criticism the current owners including Parish in the past is naive. They have stabilised the club after years of turmoil of previous owners, including Jordan who failed, but is now a supposed football business on TalkSPORT.
Football is all about money now, thatís what attracts the wealthy investors not the love of the club. They are all just passing through, you just have to hope they leave the club in sound state, when they leave.

 

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View Palace Old Geezer's Profile Palace Old Geezer Flag Midhurst 25 Mar 22 9.54am Send a Private Message to Palace Old Geezer Add Palace Old Geezer as a friend

According to the story in my paper this morning, the Chelsea bidding process is down to a shortlist of 3 and one of them is the Broughton group which has the backing of Harris and Blitzer.

This, however, has not been confirmed by The Raine Group that is handling the sale.

 


Dad and I watched games standing on the muddy slope of the Holmesdale Road end. He cheered and I rattled.

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View Badger11's Profile Badger11 Flag Beckenham 25 Mar 22 10.39am Send a Private Message to Badger11 Add Badger11 as a friend

Originally posted by ger20

Chelsea leak shed loads of money. Abrahamovic has been picking up the bill for twenty years. These two tight b******s will need to stick their hands in their pockets a lot more often. I donít really know why they are interested in getting involved with a bidding consortium.

Or has he been laundering his dirty money?

I am just speculating but Simon Jordan was very fond of telling us how much he put into the club (gross) but always forgot to subtract the amount he took out.

Does anyone have a view of Chelsea's accounts? Could RA have been paying himself / expenses / loans etc?

I don't know but nothing surprises me any longer.

 


One more point

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View sydtheeagle's Profile sydtheeagle Flag England 25 Mar 22 10.54am Send a Private Message to sydtheeagle Add sydtheeagle as a friend

Originally posted by Badger11

Or has he been laundering his dirty money?

I am just speculating but Simon Jordan was very fond of telling us how much he put into the club (gross) but always forgot to subtract the amount he took out.

Does anyone have a view of Chelsea's accounts? Could RA have been paying himself / expenses / loans etc?

I don't know but nothing surprises me any longer.

I'd have thought it highly unlikely RA was taking money out of the club simply because he doesn't need to. Jordan's problem was that his appetite was far bigger than his budget. He was way over-extended owning Palace, which is more or less why he lost the club (when borrowings were called in). RA is swimming in (ill-gotten) money; the last thing he's ever needed to do is find more of it. In fact, as you point out Chelsea (and sports washing) were a pretty good way of getting rid of some of the excesses. Whether that amounts to laundering you would have to know the nuanced legal definition of laundering (I don't) to make a judgment.

Nothing surprises me anymore either but one thing that is clear is that many of today's owners exist in an entirely different financial stratosphere to the sort of businessmen who used to own football clubs. And as such, they bring a different set of legal and financial issues with them. For a long time, clubs were owned by what amounted to "local boys made good" (Bloye, Noades, Jordan, Ken Bates, the Edwards' at Man Utd. among them). These were wealthy people within their communities, but nonentities in international commerce terms. They were wealthy enough to spread a little local flash but many soon ran into trouble when real money was required. In contrast, the sorts who presently own clubs (Man City, Liverpool, Everton, Newcastle, and even Palace with Harris and Blitzer) operate on another planet altogether. Whether they spend a lot or a little on their football investments, only a market crash of unimaginable proportions would ever see any of their clubs go to the wall. They are seriously rich, where their predecessors were really just pound-shop big shots.

 


Sydenham by birth. Selhurst by the Grace of God.

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View Rudi Hedman's Profile Rudi Hedman Flag Caterham 25 Mar 22 11.35am Send a Private Message to Rudi Hedman Add Rudi Hedman as a friend

Originally posted by Vincehair

As somebody said before if they are ultimately successful then they would have to give up their share in us, hopefully we can buy back at a knock down price and be a more self sufficient club with our academy hopefully baring fruit

Parish doesnít have the money to loan the club or provide large cash flow like H&B have. Textor now has. We need new investors unless Textor has the capital?

 


COYP

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View sydtheeagle's Profile sydtheeagle Flag England 25 Mar 22 11.48am Send a Private Message to sydtheeagle Add sydtheeagle as a friend

Originally posted by Rudi Hedman

Parish doesnít have the money to loan the club or provide large cash flow like H&B have. Textor now has. We need new investors unless Textor has the capital?

People need to understand that while Textor is wealthy by the standards you and I recognise, he is not particularly wealthy by today's football club owner standards. He's a multimillionaire, yes. He's not a billionaire by any stretch of the imagination. And the source of his wealth (essentially, disruptive technologies and their associated companies, mainly in the broadcasting industry) are exposed to far more risk than, say, the source of Josh Harris' money (hedge funds, investments). Textor could lose his fortune reasonably quickly in adverse market conditions. Harris couldn't (or would be highly unlikely to). Harris is a legitimate billionaire. He IS seriously wealthy. Textor is not.

What separates the two is that Textor clearly enjoys having a high profile, likes the limelight, and as a result is willing to spend money to pursue it. To that extent, he's more like the traditional football club owner. That's all good and supporters love it. And obviously, Palace has benefitted from it. Harris (and Blitzer) on the other hand, prefer keeping a lower profile, see the club as an investment to nurture, but to nurture cautiously and fairly slowly, and there's nothing wrong with that either.

If Harris and Blitzer walked away, I'd be worried until we found another significant investor. If Textor walked away, I might be pissed off that our transfer budget in the next window was smaller but I wouldn't be worried about the stability of our club at all.


Edited by sydtheeagle (25 Mar 2022 11.50am)

 


Sydenham by birth. Selhurst by the Grace of God.

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View ASCPFC's Profile ASCPFC Flag Pro-Cathedral/caravan park 25 Mar 22 11.54am Send a Private Message to ASCPFC Add ASCPFC as a friend

I don't see the Harris and Blitzer bid as flashy enough for the spoilt Chelsea big time Charlie's. They need more endless dirty money if they are to retain their world status.

 


Patrick Vieira's
Red and Blue Army!

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View doombear's Profile doombear Flag Too far from Selhurst Park 25 Mar 22 11.56am Send a Private Message to doombear Add doombear as a friend

Originally posted by sydtheeagle

People need to understand that while Textor is wealthy by the standards you and I recognise, he is not particularly wealthy by today's football club owner standards. He's a multimillionaire, yes. He's not a billionaire by any stretch of the imagination. And the source of his wealth (essentially, disruptive technologies and their associated companies, mainly in the broadcasting industry) are exposed to far more risk than, say, the source of Josh Harris' money (hedge funds, investments). Textor could lose his fortune reasonably quickly in adverse market conditions. Harris couldn't (or would be highly unlikely to). Harris is a legitimate billionaire. He IS seriously wealthy. Textor is not.

What separates the two is that Textor clearly enjoys having a high profile, likes the limelight, and as a result is willing to spend money to pursue it. To that extent, he's more like the traditional football club owner. That's all good and supporters love it. And obviously, Palace has benefitted from it. Harris (and Blitzer) on the other hand, prefer keeping a lower profile, see the club as an investment to nurture, but to nurture cautiously and fairly slowly, and there's nothing wrong with that either.

If Harris and Blitzer walked away, I'd be worried until we found another significant investor. If Textor walked away, I might be pissed off that our transfer budget in the next window was smaller but I wouldn't be worried about the stability of our club at all.


Edited by sydtheeagle (25 Mar 2022 11.50am)


I find it difficult to believe that arrangements are not already in hand for H & B to sell their Palace stakes should the bid they're involved with for Chelsea be successful. They must have provided some evidence to Raine to show that they can offload their Palace stakes quickly, surely.

The question, of course, is who has been lined up to buy their stakes - not Textor, I suspect and not Parish (although both might buy some shares).

Edited by doombear (25 Mar 2022 11.57am)

 

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View sydtheeagle's Profile sydtheeagle Flag England 25 Mar 22 12.12pm Send a Private Message to sydtheeagle Add sydtheeagle as a friend

Originally posted by doombear

I find it difficult to believe that arrangements are not already in hand for H & B to sell their Palace stakes should the bid they're involved with for Chelsea be successful. They must have provided some evidence to Raine to show that they can offload their Palace stakes quickly, surely.

The question, of course, is who has been lined up to buy their stakes - not Textor, I suspect and not Parish (although both might buy some shares).

Edited by doombear (25 Mar 2022 11.57am)

Yes, I would agree with all this. You don't ready yourself to buy an expensive new house without quietly putting your present house on the market to alert and ready potential buyers, particularly if you're as shrewd investors as Harris and Blitzer so you have to think some mechanism is in place so that should their Chelsea deal go through, Palace can be offloaded fairly quickly and efficiently. And I doubt, as you said, it's Textor or Parish who'd be the buyers.

That raises an interesting question: presumably if there are expressions of interest in Harris and Blitzer's shares in Palace, that interest would exist even if their Chelsea bid wasn't successful. Much could be read into that about what the next year might hold.

 


Sydenham by birth. Selhurst by the Grace of God.

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View sydtheeagle's Profile sydtheeagle Flag England 25 Mar 22 12.16pm Send a Private Message to sydtheeagle Add sydtheeagle as a friend

Originally posted by ASCPFC

I don't see the Harris and Blitzer bid as flashy enough for the spoilt Chelsea big time Charlie's. They need more endless dirty money if they are to retain their world status.

Agree with this too. They have the money to run Chelsea; those two guys are seriously rich so I've no doubt about that. But their profile doesn't really fit the club, and the way it's come to expect to be run. As you say, they're not flash. And Chelsea are. In many ways, Harris and Blitzer are quite a good fit for a club our size, notwithstanding that many of our supporters would like owners who dispensed cash of Chelsea-like proportions.

 


Sydenham by birth. Selhurst by the Grace of God.

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View Omph's Profile Omph Flag Liverpool 25 Mar 22 12.33pm Send a Private Message to Omph Add Omph as a friend

The Harris Blitzer bid is part of the shortlist

[Link]

Worrying. The hope is that the need to divest from Palace will complicate the bid and push it to the back of the queue given that time is supposed to be of the essence

Edited by Omph (25 Mar 2022 12.35pm)

 

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