Goodbye Palace?

[Proper Job]

Palace have until 3pm tomorrow to pay 4.5 million the their hedge fund or the club will be liquidated and the assets sold. Just in on sky sports.

As much as there isn't any love lost with us and Palace if late I hope they survive. Wouldn't like to be in their fans shoes

[ajbcfc]

They are preparing for the inevitable.

CPFC 2010 Statement

[EmersonsKev]

Just had a read, looking that BoS(Bank of Scotland) is forcing hand of potential buyers to speed things up. VERY VERY dangerous poker hand to play. I hope for the fans of Palace that something positive comes by this time tomorrow once one club is allowed to fold it will set a precedence for others to follow.

[ajbcfc]

if they fold then what will happen?

Do Wednesday stay up or do Swindon or Charlton come up?

[SC_Red]

Surely they will just get an extra 40 odd days like Cardiff did.

I'd hate to see one rule for one and one rule for another.

[EmersonsKev]

Surely they will just get an extra 40 odd days like Cardiff did.

I'd hate to see one rule for one and one rule for another.

Its not HMRC that are the major creditor it is a commercial company who can force liquidation at any point they want there money back.

[chinapig]

Deeply ironic that the bank want a so-called "embarrassment clause". These are people that rip off us and the world economy, trouser huge, undeserved rewards, demand we bail them out then use tax payers' money to give themselves the rewards of failure. They will happily destroy Palace to give themselves yet more. Given that they genuinely cannot see they have done anything wrong they are clearly incapable of embarrassment.

[SC_Red]

Its not HMRC that are the major creditor it is a commercial company who can force liquidation at any point they want there money back.

so the sooner Cardiffs debt is transferred from HMRC to some bunch of Malaysians the better then.

[The Casual Connoisseur]

It's a vile, vile situation, especially when you consider what Cardiff have been allowed to get away with especially as the authority they have been answering to is normally impenetrable to circumstance and they are shakled with an overall larger debt. If palace fold then serious questions must be asked and the financial dudiligence of potential prospective buyers must go along way further to offer the average fan piece of mind that his or her club is being ran in a fit and proper manner, we seem to have a large proportion of chairman/owners who run football clubs like a night out in a Vegas casino, it needs to change and now!

[Nogbad the Bad]

Seeing the perilous position Crystal Palace finds itself in today, our little spats with Colin and Jordan over the last few seasons pale into insignificance.

Good luck to Crystal Palace F.C. and the Palace fans as they battle for survival.

[The Casual Connoisseur]

so the sooner Cardiffs debt is transferred from HMRC to some bunch of Malaysians the better then.

.......very, very good idea.

[Nibor]

Reads to me like CPFC 2010 are basically trying to buy back the ground that club haven't owned for a decade on the cheap through some publicity blackmail.

Perhaps if that orange faced **** Simon Jordan hadn't lied about buying the freehold off Ron Noades and instead had actually done it they wouldn't be in this mess.

I'd be sad for the fans but frankly they're very dislikable from a BCFC point of view, I'd rather play Wednesday next season.

[James]

so the sooner Cardiffs debt is transferred from HMRC to some bunch of Malaysians the better then.

HAHA im sure many will be saying the same "if only it were that simple" :tounge: heres to hoping though!!!!!

[chinapig]

[Kid in the Riot]

Its not HMRC that are the major creditor it is a commercial company who can force liquidation at any point they want there money back.

I thought the creditor was the government run RBS (royal bank of scotch land)?

[BITW]

Good luck Palarse. Would be genuinely gutted if they folded. Imagine saturdays without BCFC?

[Rednready]

Palace ??? Cardiff ???

BCFC Ashton Gate...... Its ok going on about other clubs, but who owns our ground, Ashton Gate, is it the football club, the fans, the directors.....who exactly does own Ashton Gate ?

Its not a secret, but most of the people posting dont seem to know.

[greg_cpfc]

I am fully expecting AFC Palace in the Blue Square South/wherever now.

For those of you who have posted kind words - thanks, and good luck. With SSC at the helm, you're bound to do well.

[SC_Red]

I am fully expecting AFC Palace in the Blue Square South/wherever now.

For those of you who have posted kind words - thanks, and good luck. With SSC at the helm, you're bound to do well.

Were you one of the many Palace fans labelling us cheats last season when a referee disallowed a goal for you against us?

[BCFC Jordan]

I hope Palace can somehow get out of this. It's not nice for fans losing something they've loved their whole life, whether we like them or not. Good luck Palace, no club deserves this.

[Guest oftbc]

Vile club, Vile area, Vile fans. I hope they go under.

[greg_cpfc]

Were you one of the many Palace fans labelling us cheats last season when a referee disallowed a goal for you against us?

In the aftermath - I probably was (can't be bothered to look over my past posts). Calmed down eventually, shrugged my shoulders and got over it.

[EmersonsKev]

I thought the creditor was the government run RBS (royal bank of scotch land)?

BoS, still a government owned bank. However I guess that the liquidation of Palace for them will be a better return than a CVA. As previously stated I think that it is a "bluff" in poker terms to move the stand off of potential buyers on to lodging official offers for the club.

[EmersonsKev]

In the aftermath - I probably was (can't be bothered to look over my past posts). Calmed down eventually, shrugged my shoulders and got over it.

Fans I can accept making comments like that and I can get over it. However when managers and chairman are branding us with it then I can understand why some City fans still feel bitter.

[Bristol Rob]

Reads to me like CPFC 2010 are basically trying to buy back the ground that club haven't owned for a decade on the cheap through some publicity blackmail.

Perhaps if that orange faced **** Simon Jordan hadn't lied about buying the freehold off Ron Noades and instead had actually done it they wouldn't be in this mess.

I'd be sad for the fans but frankly they're very dislikable from a BCFC point of view, I'd rather play Wednesday next season.

I wasn't aware of the Simon Jordan 'claims' that he'd bought the freehold. I know, when he originally bought the club he left Selhurt in the hands of Nodes. But I didn't know he'd claimed to have bought it since!

What a fool.

What is the back story to this? I'm only interested as I like to feel superiour to people on occasion, and whilst I have that sense of grandure over Simon Jordon, reaffirming this is always nice.

[The Casual Connoisseur]

Good luck Palace, I hope you survive, I really do.

[greg_cpfc]

I wasn't aware of the Simon Jordan 'claims' that he'd bought the freehold. I know, when he originally bought the club he left Selhurt in the hands of Nodes. But I didn't know he'd claimed to have bought it since!

What a fool.

What is the back story to this? I'm only interested as I like to feel superiour to people on occasion, and whilst I have that sense of grandure over Simon Jordon, reaffirming this is always nice.

Chairmen: Ron Noades, then Mark Goldberg, then Simon Jordan.

Noades put the club up for sale, and new (stupid) millionaire Mark Goldberg buys the club for a ridiculous amount of money, but not the ground (Noades had previously seperated them by selling it to his company Altonwood).

Palace slide into administration in 1999, and Simon Jordan (another new, stupid millionaire) steps in at the last minute to buy the club - but refuses to buy Selhurst as he believes Noades is asking for too much money (rumours are he wanted about £10m, when Jordan had it valued by someone at £6m).

Over the years, Jordan and Noades keep having little spats, with neither really budging on their stance over Selhurst.

In about 2008 (I think), Jordan suddenly announces that he has 'reunited' CPFC and Selhurst Park by being, and I quote, "a clever little sausage".

Sounds great, but it soon comes out via some members of the CPFC Supporters Trust that what Jordan has actually done is used his friend Paul Kemsley's company Rock Investments to buy the ground with the intention of buying it from Rock pretty sharpish, but what he also did in the process is almost double the yearly rent up to £1.2m A YEAR.

Rock Investments then slides into administration so PwC essentially control the ground, followed by the economic crash, and no banks are lending. Having mortgaged everything from the big telly to the desk in the boardroom, Jordan can't afford to buy it, but CPFC are still required to pay the extortionate £1.2m rent, which Jordan also can't afford.

January, and Palace are placed into administration by Agilo, a hedge fund who specialise in distressed companies, as Jordan doesn't keep up payments on the £4.5m he owes them.

CPFC2010 Consortium try to buy the club, but say they will not buy it unless they can PROPERLY reunite club and ground - which is undoubtedly the only way to go about it but now we've ended up on the edge, staring into the abyss.

Get your head around that one!

[Bristol Rob]

Chairmen: Ron Noades, then Mark Goldberg, then Simon Jordan.

Noades put the club up for sale, and new (stupid) millionaire Mark Goldberg buys the club for a ridiculous amount of money, but not the ground (Noades had previously seperated them by selling it to his company Altonwood).

Palace slide into administration in 1999, and Simon Jordan (another new, stupid millionaire) steps in at the last minute to buy the club - but refuses to buy Selhurst as he believes Noades is asking for too much money (rumours are he wanted about £10m, when Jordan had it valued by someone at £6m).

Over the years, Jordan and Noades keep having little spats, with neither really budging on their stance over Selhurst.

In about 2008 (I think), Jordan suddenly announces that he has 'reunited' CPFC and Selhurst Park by being, and I quote, "a clever little sausage".

Sounds great, but it soon comes out via some members of the CPFC Supporters Trust that what Jordan has actually done is used his friend Paul Kemsley's company Rock Investments to buy the ground with the intention of buying it from Rock pretty sharpish, but what he also did in the process is almost double the yearly rent up to £1.2m A YEAR.

Rock Investments then slides into administration so PwC essentially control the ground, followed by the economic crash, and no banks are lending. Having mortgaged everything from the big telly to the desk in the boardroom, Jordan can't afford to buy it, but CPFC are still required to pay the extortionate £1.2m rent, which Jordan also can't afford.

January, and Palace are placed into administration by Agilo, a hedge fund who specialise in distressed companies, as Jordan doesn't keep up payments on the £4.5m he owes them.

CPFC2010 Consortium try to buy the club, but say they will not buy it unless they can PROPERLY reunite club and ground - which is undoubtedly the only way to go about it but now we've ended up on the edge, staring into the abyss.

Get your head around that one!

I think I've got my head around it.

You had Nodes, who - as a lot of clubs do - remove the stadium from the 'club' and then pay a peppercorn rent on it, meaning that in the event of the club having financial difficulities, they stadium is still available for whoever takes it over.

You then get Goldberg who has too much money and fancies a new hobby. Goldberg runs out of money, but not before it's too late to hand his hobby over to someone else who can enjoy it.

Then you get Jordan, who got lucky and made a fortune, he also fancied being a man with a hobby, but unlike Goldberg, he spent his money first-and-foremost of sun-beds and hair dye. By the time it comes to making investment, he realises that he doesn't have as much money as he thought he did so spins a few yarns in order to carry favour with the masses. He then get's a hour on the sun-bed.

Multiply the Jordan situation but several years, several sun-bed and a lot of peroxide and you've got Palace as they are today.

Is that fairly close?

Either way, it does seem that the 2010 group are consistent in their approach, without the ground the club isn't viable and it is unresonable to expect them to throw their money away.

How do you see this panning out? Do you really fear for the future or do you think, like most other clubs (including Palace post Goldberg), someone will ride in at the last minute and save you?

[greg_cpfc]

I think I've got my head around it.

You had Nodes, who - as a lot of clubs do - remove the stadium from the 'club' and then pay a peppercorn rent on it, meaning that in the event of the club having financial difficulities, they stadium is still available for whoever takes it over.

You then get Goldberg who has too much money and fancies a new hobby. Goldberg runs out of money, but not before it's too late to had his hobby over to someone else who can enjoy it.

Then you get Jordan, who got lucky and made a fortune, he also fancied being a man with a hobby, but unlike Goldberg, he spent his money first-and-foremost of sun-beds and hair dye. By the time it comes to making investment, he realises that he doesn't have as much money as he thought he did so spins a few yarns in order to carry favour with the masses. He then get's a hour on the sun-bed.

Multiply the Jordan situation but several years, several sun-bed and a lot of peroxide and you've got Palace as they are today.

Is that fairly close?

Either way, it does seem that the 2010 group are consistent in their approach, without the ground the club isn't viable and it is unresonable to expect them to throw their money away.

How do you see this panning out? Do you really fear for the future or do you think, like most other clubs (including Palace post Goldberg), someone will ride in at the last minute and save you?

Yes, I suppose that is pretty much it.

How do I see it panning out? CPFC2010 have been the only people interested in buying the club since the beginning of administration. I think the economic situation means that there will be no knight riding in to save the day. I pray and pray that this will be resolved, but I think we're going to go under.

AFC Crystal Palace might not be so bad...

[Mclovin BS14]

Vile club, Vile area, Vile fans. I hope they go under.

Give palace a break, they are going under like we did in 82, its never nice to see a club go bust but its happening all the time now, it will be a shame because ive always loved playing palace, passionate fans and there is always a good atmosphere when we play them, so have a heart will you?

Good luck palace