January 24 2001

Jordan - Wads of cash

Palace supremo Simon Jordan is reported to have promised manager Alan Smith £10m for transfers in a bid to win promotion to the Premiership at the end of next season. He mad his pledge just before tonight's Worthington Cup semi-final second-leg at Anfield where Palace defend a 2-1 lead.

Simon Jordan has already spent £5m on new players and loan signings since he took over at Selhurst Park last summer after a period of 18 months of administration.

He now has pledged a £10 million transfer kitty to make a good start to the new seaaon and help the club win promotion to the Premier League.

The chairman claims the extra income of nearly £1m generated by the semi-final is no longer vital.

Jordan said: 'Winning through or going out tonight is not the main thing and it will not lead to the height of euphoria or the depths of depression. I just want to get out of this division.

"I would rather be further up the table and have a cup final every week next season, but I am really pleased for the supporters who turn out regularly and follow us around the county.

"Getting this far in the competition helps to re-establish credibility and makes the club feel good. They are achieving something but it is not the end product.

"It is also good because it means the football club I own is in the national spotlight and will bring a good financial return.

"But the money we get from the cup run only makes up for a slight fall in our gate receipts and catering income.

"It also pales into insignificance compared to the money I am prepared to invest to get us into the Premiership.

"We are not writing off the rest of this season and we still have an outside chance of making the play-offs, but everything is geared up for next season.

"We know the player contracts we want to keep, the negotiations we want to tie-up and the peripheral players we are going to let go.

"Our scouting network is extremely busy all round Europe and I am prepared to spend £10m on players so we start next season really well."