Palace Funding Problems . . .
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 palace99  New Mills 27 Mar 24 11.24am |
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Originally posted by Ali_Campbell
At last, someone is seeing it as it is. 100% this. I have been calling it for a years, the net debt of our club is a worry, especially when the board are not underwriting the losses. Our directors are looking for a return on their investment and with the current losses, something needs to be done. We are close the the ffp line so will deffo be sales. THE CLUB IS LOSING APPROXIMATELY 400k A WEEK But it’s never mentioned, never discussed. It’s just continually swept under tithe carpet. Agree, but football is a strange best. Abramovich bought Chelsea for c £135m and then funded it by £100m for each year he owned it (so £2m loss a week) and when the loss making business was put up for a distressed sale it fetched £2.5bn. I suspect 1 or 2 big player sells would make the accounts look a lot better. However, you make a good point, these losses are unsustainable in the longer term. Re FFP - covid losses can be taken into account - the issue with Everton is that they made theirs up.
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| Dubai Eagle 27 Mar 24 11.35am |
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Indeed, Abramovic had to write off a £1.5 billion debt before he could offer Chelsea for sale. Originally posted by palace99
Agree, but football is a strange best. Abramovich bought Chelsea for c £135m and then funded it by £100m for each year he owned it (so £2m loss a week) and when the loss making business was put up for a distressed sale it fetched £2.5bn. I suspect 1 or 2 big player sells would make the accounts look a lot better. However, you make a good point, these losses are unsustainable in the longer term. Re FFP - covid losses can be taken into account - the issue with Everton is that they made theirs up.
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| palace99 New Mills 27 Mar 24 11.50am |
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Originally posted by Badger11
Posters keep mentioning this, not sure why. Unlike the other investors Parish is the full time manager of the club so whether he gets paid £800,000 or £2m this is his compensation for that role. If he steps back someone else will have to be paid to do it. If I was an investor I would be happy with Parish's job performance. I have no issue with SP getting paid, however, i do think his payments are excessive, and as a part owner (which most CEOs aren't) i think there should be an upper limit.
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| Spiderman Online Horsham 27 Mar 24 12.05pm |
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Originally posted by palace99
I have no issue with SP getting paid, however, i do think his payments are excessive, and as a part owner (which most CEOs aren't) i think there should be an upper limit. Unfortunately can’t open the link
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eagleman13  On The Road To Hell & Alicante 27 Mar 24 12.17pm |
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Originally posted by Spiderman
Unfortunately can’t open the link try this spider . . . [Link]
I'm a blind man, i'm a blind man, now my room is cold, |
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| MrRobbo Purley 27 Mar 24 12.18pm |
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Originally posted by palace99
I have no issue with SP getting paid, however, i do think his payments are excessive, and as a part owner (which most CEOs aren't) i think there should be an upper limit. 5th highest. Does seem a little out of whack. But not crazy
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| Dubai Eagle 27 Mar 24 12.31pm |
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The article refers to season 2021 / 22 - Please see attached taken from the CPFC accounts for the same period - Originally posted by eagleman13
try this spider . . . [Link] Edited by Dubai Eagle (27 Mar 2024 12.32pm)
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Attachment: | Badger11 Beckenham 27 Mar 24 12.41pm |
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Originally posted by MrRobbo
5th highest. Does seem a little out of whack. But not crazy
If you are the biggest club in the world you can explain to CEO candidates that you don't need to pay the highest salary as so many people want the prestige of the job. Likewise I can imagine a CEO saying why would I want to run Luton or Millwall? So you may have to incentivise the role. What Parish might say is that we have stayed in the top flight for the longest period ever under his stewardship. I believe that over the same period most of the other clubs promoted have been relegated at least once.* *Bar anyone just coming up.
One more point |
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| Ali_Campbell New Addington 27 Mar 24 1.34pm |
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Originally posted by Badger11
Posters keep mentioning this, not sure why. Unlike the other investors Parish is the full time manager of the club so whether he gets paid £800,000 or £2m this is his compensation for that role. If he steps back someone else will have to be paid to do it. If I was an investor I would be happy with Parish's job performance.
In answer to the tread, do Palace have funding problems……yes. You could argue that most clubs do tho. Whilst we haven’t lost as much money recently, the losses continue to increase each year. Until they plateau and start to reduce or we get brought out, it’s difficult to see how ambitious the club can be with its plans.
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oldyank  Springfield 27 Mar 24 4.40pm |
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I don't understand. We are talking chump change here. The way to solve Palaces financial problems is to bring new investors on board. Did you know that Josh Harris, who is the lead investor in the purchase of the Washington Commanders American football club, for 7 billion USD, is a minor investor in Palace. Try and hit him up to increase his share of his investment. If that fails, go looking for another rich American investor. What American billionaire would not love to brag to their rich friends that they are part owner of a Premier League team. Now is the time to strike, the stock market is going gang busters and the aforementioned are loaded
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| Dubai Eagle 28 Mar 24 6.54am |
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Under FFP / PSR -rules a club cant spend more than it generates & cant lose more than £105 million over 3 seasons - so you cant just tap up a rich yank anytime you need one (obviously its a shame, but there you go them are the rules that all clubs in the PL signed up to) - this is why the new main stand is so important it means we will have the capability to increase revenue / turnover which in turn gives us more spending capability - Originally posted by oldyank
I don't understand. We are talking chump change here. The way to solve Palaces financial problems is to bring new investors on board. Did you know that Josh Harris, who is the lead investor in the purchase of the Washington Commanders American football club, for 7 billion USD, is a minor investor in Palace. Try and hit him up to increase his share of his investment. If that fails, go looking for another rich American investor. What American billionaire would not love to brag to their rich friends that they are part owner of a Premier League team. Now is the time to strike, the stock market is going gang busters and the aforementioned are loaded
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| Dubai Eagle 28 Mar 24 7.04am |
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Originally posted by Dubai Eagle
Under FFP / PSR -rules a club cant spend more than it generates & cant lose more than £105 million over 3 seasons - so you cant just tap up a rich yank anytime you need one (obviously its a shame, but there you go them are the rules that all clubs in the PL signed up to) - this is why the new main stand is so important it means we will have the capability to increase revenue / turnover which in turn gives us more spending capability -
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