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April 14 2024 2.49am

Palace Funding Problems . . .

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View palace99's Profile palace99 Flag New Mills 27 Mar 24 11.24am Send a Private Message to palace99 Add palace99 as a friend

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 itís never mentioned, never discussed. Itís 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.
Unbelievable.

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.
The academy has been a big cost - £30m upfront and £5m a year to run - these can be taken off too.

 

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View Dubai Eagle's Profile Dubai Eagle Flag 27 Mar 24 11.35am Send a Private Message to Dubai Eagle Add Dubai Eagle as a friend

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.
Unbelievable.

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.
The academy has been a big cost - £30m upfront and £5m a year to run - these can be taken off too.

 

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View palace99's Profile palace99 Flag New Mills 27 Mar 24 11.50am Send a Private Message to palace99 Add palace99 as a friend

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.
£500k a year, £10k a week, seems quite reasonable and would be comparable for a (non football) company with c£150m turnover.
He does seem to be quite highly compensated when comparing other Prem clubs.

[Link]

 

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View Spiderman's Profile Spiderman Flag Horsham 27 Mar 24 12.05pm Send a Private Message to Spiderman Add Spiderman as a friend

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.
£500k a year, £10k a week, seems quite reasonable and would be comparable for a (non football) company with c£150m turnover.
He does seem to be quite highly compensated when comparing other Prem clubs.

[Link]

Unfortunately canít open the link

 

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View eagleman13's Profile eagleman13 Flag On The Road To Hell & Alicante 27 Mar 24 12.17pm Send a Private Message to eagleman13 Holmesdale Online Elite Member Add eagleman13 as a friend

Originally posted by Spiderman

Unfortunately canít open the link

try this spider . . . [Link]

 


I'm a blind man, i'm a blind man, now my room is cold,
When a blind man cries, Lord, he feels it from his soul.
[Link]

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View MrRobbo's Profile MrRobbo Flag Purley 27 Mar 24 12.18pm Send a Private Message to MrRobbo Add MrRobbo as a friend

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.
£500k a year, £10k a week, seems quite reasonable and would be comparable for a (non football) company with c£150m turnover.
He does seem to be quite highly compensated when comparing other Prem clubs.

[Link]

5th highest. Does seem a little out of whack. But not crazy

 

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View Dubai Eagle's Profile Dubai Eagle Flag 27 Mar 24 12.31pm Send a Private Message to Dubai Eagle Add Dubai Eagle as a friend

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)

2022 accounts.PNG Attachment: 2022 accounts.PNG (26.71Kb)

 

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View Badger11's Profile Badger11 Flag Beckenham 27 Mar 24 12.41pm Send a Private Message to Badger11 Add Badger11 as a friend

Originally posted by MrRobbo

5th highest. Does seem a little out of whack. But not crazy


It can be difficult to compare like to like.

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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View Ali_Campbell's Profile Ali_Campbell Flag New Addington 27 Mar 24 1.34pm Send a Private Message to Ali_Campbell Add Ali_Campbell as a friend

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.



He is a significant shareholder and is one of the top salaries in the league.

In answer to the tread, do Palace have funding problemsÖÖyes.

You could argue that most clubs do tho.

Whilst we havenít lost as much money recently, the losses continue to increase each year. Until they plateau and start to reduce or we get brought out, itís difficult to see how ambitious the club can be with its plans.

 

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View oldyank's Profile oldyank Flag Springfield 27 Mar 24 4.40pm Send a Private Message to oldyank Add oldyank as a friend

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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View Dubai Eagle's Profile Dubai Eagle Flag 28 Mar 24 6.54am Send a Private Message to Dubai Eagle Add Dubai Eagle as a friend

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 -
John Textor has gone on record as saying each of the 4 main Palace board members are ready to invest more to improve the club when they have the space on the accounts to do so.

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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View Dubai Eagle's Profile Dubai Eagle Flag 28 Mar 24 7.04am Send a Private Message to Dubai Eagle Add Dubai Eagle as a friend

[Link]

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 -
John Textor has gone on record as saying each of the 4 main Palace board members are ready to invest more to improve the club when they have the space on the accounts to do so.

 

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