29 members of staff made redundant today. 
Bloody desperate times. We need CPFC 2010 to sort the ground soon.
Bloody desperate times. We need CPFC 2010 to sort the ground soon.
Palace Supporters Thread
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Originally Posted by Joooe:
“29 members of staff made redundant today.
Bloody desperate times. We need CPFC 2010 to sort the ground soon.”
“29 members of staff made redundant today.
Bloody desperate times. We need CPFC 2010 to sort the ground soon.”
was just about to post that. this really has the feel now that the end is nigh. i think it's lloyds that are holding up the selhurst deal with cpfc2010 due to an Anti-Embarrassment Clause. if there is no agreement with that very soon then i think we won't exist this time next month. there seems to be too many stumbling blocks, just one after another after another.
I don't believe this is happening. Gutted for all those that have lost their jobs. I really hope & pray that this is a huge wake up call to Lloyds/PwC, CPFC2010 & Jordan. All this posturing and brinkmanship has to stop as it has now affected people's lives to such a degree they no longer have a job. They need to get this sorted NOW.
BG seems to believe we have until the fixture list comes out (17th June) to get it sorted or we will be liquidated.
BG seems to believe we have until the fixture list comes out (17th June) to get it sorted or we will be liquidated.
Originally Posted by Sattrega:
“BG seems to believe we have until the fixture list comes out (17th June) to get it sorted or we will be liquidated.”
“BG seems to believe we have until the fixture list comes out (17th June) to get it sorted or we will be liquidated.”
that may well be true. i cannot see how at this stage we can give the football league assurances that we can fulfill our fixtures for next season. especially as it's looking more and more likely that we'll have no squad/team.
i am so down right now i can't even put it into words.
even at my lowest ebb a part of me always believed
we would be ok. but now that belief has gone.
this feels like the end.
even at my lowest ebb a part of me always believed
we would be ok. but now that belief has gone.
this feels like the end.
The fans are rallying. BBS spreading the word to all Palace fans to get down to Selhurst Park on Bank Holiday Monday at 3pm.
I believe there is also something similar being organised for next weekend.
All major media outlets are being informed as are ex-players and people associated with the club.
We cannot let our team die.
I believe there is also something similar being organised for next weekend.
All major media outlets are being informed as are ex-players and people associated with the club.
We cannot let our team die.
Originally Posted by Sattrega:
“The fans are rallying. BBS spreading the word to all Palace fans to get down to Selhurst Park on Bank Holiday Monday at 3pm.
I believe there is also something similar being organised for next weekend.
All major media outlets are being informed as are ex-players and people associated with the club.
We cannot let our team die.”
“The fans are rallying. BBS spreading the word to all Palace fans to get down to Selhurst Park on Bank Holiday Monday at 3pm.
I believe there is also something similar being organised for next weekend.
All major media outlets are being informed as are ex-players and people associated with the club.
We cannot let our team die.”
the one tomorrow is the spontaneous one. the one next weekend is the organised one. i think that's the one where which they're hoping gets the media attention.
meanwhile, the trust is going to launch it's loan notes scheme on june 3rd. i think it's only for trust members, though.
The worst possible news. It looks like it's virtually over for us.
Link
Quote:
“Statement From 2010
As you are aware we are endeavoring to acquire both Crystal Palace Football Club and Selhurst Park. Everyone would agree Selhurst Park is pivotal to the long-term future of the club and CPFC2010 have always made it clear that they will not proceed without securing it.
We have now reached agreement with Agilo regarding their debt against the club and did have what we thought was an agreement with Bank of Scotland who are the major creditor of Selhurst Park Ltd. Subsequent to this agreement we have been sent a contract that does not reflect this agreement and is unworkable.
CPFC 2010 value Selhurst Park as a football ground but have agreed to pay a significant premium on that. We also recognize that a property developer may pay even more for the ground on the chance that they may be able to change its use sometime in the future. The bank have made it clear that they want to help the club and don't want to sell to a property developer now but are worried we may sell the land for development in the future, making a profit and embarrassing the bank in the process.
In order to put their minds at rest we have also agreed to an 'anti embarrassment' clause that allows the Bank to see a further return if we realise greater value from the ground in the future. In essence we need clarity on what that amount should be and how it is calculated. At the moment it seems the Bank want to make unlimited return in the future even if that value is created on the back of the success of the football club or money we have invested in a new infrastructure and not in appreciation
of the value of the land. We believe that the maximum they should make is the difference between what we will pay for the land as a football ground and what a property developer will pay now as a development opportunity plus interest.
We are dealing totally through intermediaries and its very frustrating, as we don't think the bank competently understand the situation we are in, or the urgency.
If we cannot reach agreement soon (we have a deadline of 3pm 1st June) Agilo have made their intention clear to sell the players and liquidate the club.
Please be assured we are doing everything we can to make this happen but as we sit today the future of Crystal palace hangs in the balance and is very
much in the hands of a person in a Bank in Scotland whom we have never met and it seems we are not allowed to speak to.
We note the new governments commitment to sport, particularly sport in the community, Bank of Scotland is currently government owned, as such we would urge
the new Prime Minister to intervene personally to resolve the situation or see a club supported by many thousands with 100 year history consigned to the scrapheap.”
“Statement From 2010
As you are aware we are endeavoring to acquire both Crystal Palace Football Club and Selhurst Park. Everyone would agree Selhurst Park is pivotal to the long-term future of the club and CPFC2010 have always made it clear that they will not proceed without securing it.
We have now reached agreement with Agilo regarding their debt against the club and did have what we thought was an agreement with Bank of Scotland who are the major creditor of Selhurst Park Ltd. Subsequent to this agreement we have been sent a contract that does not reflect this agreement and is unworkable.
CPFC 2010 value Selhurst Park as a football ground but have agreed to pay a significant premium on that. We also recognize that a property developer may pay even more for the ground on the chance that they may be able to change its use sometime in the future. The bank have made it clear that they want to help the club and don't want to sell to a property developer now but are worried we may sell the land for development in the future, making a profit and embarrassing the bank in the process.
In order to put their minds at rest we have also agreed to an 'anti embarrassment' clause that allows the Bank to see a further return if we realise greater value from the ground in the future. In essence we need clarity on what that amount should be and how it is calculated. At the moment it seems the Bank want to make unlimited return in the future even if that value is created on the back of the success of the football club or money we have invested in a new infrastructure and not in appreciation
of the value of the land. We believe that the maximum they should make is the difference between what we will pay for the land as a football ground and what a property developer will pay now as a development opportunity plus interest.
We are dealing totally through intermediaries and its very frustrating, as we don't think the bank competently understand the situation we are in, or the urgency.
If we cannot reach agreement soon (we have a deadline of 3pm 1st June) Agilo have made their intention clear to sell the players and liquidate the club.
Please be assured we are doing everything we can to make this happen but as we sit today the future of Crystal palace hangs in the balance and is very
much in the hands of a person in a Bank in Scotland whom we have never met and it seems we are not allowed to speak to.
We note the new governments commitment to sport, particularly sport in the community, Bank of Scotland is currently government owned, as such we would urge
the new Prime Minister to intervene personally to resolve the situation or see a club supported by many thousands with 100 year history consigned to the scrapheap.”
Link
it simply can't allowed to happen,they say they want the goverment to step in & help but sadly i don't think this will happen.
as a football fan i'm saddened by the developments at selhurst park,from being in the top division to being on the verge of dissapearing is very very sad.
keep your chin up something good will happen
as a football fan i'm saddened by the developments at selhurst park,from being in the top division to being on the verge of dissapearing is very very sad.
keep your chin up something good will happen
Originally Posted by rhynoGB:
“it simply can't allowed to happen,they say they want the goverment to step in & help but sadly i don't think this will happen.”
“it simply can't allowed to happen,they say they want the goverment to step in & help but sadly i don't think this will happen.”
it won't simply because once you do it for one football club you have to do it for all of them the harsh reality is football clubs only have them selves to blame for the mess they are in so why should the government step in to bail them out.
Originally Posted by -Bandit-:
“i'm devastated, absolutely devastated. my club is about to die. it just doesn't seem real.”
“i'm devastated, absolutely devastated. my club is about to die. it just doesn't seem real.
”
I sympathise with you I wouldn't want to see any fan lose his/her club but I think sooner or later we are going to see another League club go to the wall.
Originally Posted by Larry1971:
“football clubs only have them selves to blame for the mess they are in”
“football clubs only have them selves to blame for the mess they are in”
It probably doesn't matter anymore, but Palace didn't put themselves in administration.
No offence, but leave us alone in our misery. We don't deserve it.
Originally Posted by KJ44:
“It probably doesn't matter anymore, but Palace didn't put themselves in administration.
No offence, but leave us alone in our misery. We don't deserve it.”
“It probably doesn't matter anymore, but Palace didn't put themselves in administration.
No offence, but leave us alone in our misery. We don't deserve it.”
You don't, but the board and past owners do.
Football clubs should be run as a business. When they're not and shit happens, you can't expect the government to help out, why should they?
Having said that, I hope Palace make it through these dark times.
Originally Posted by BigFoot87:
“You don't, but the board and past owners do.
Football clubs should be run as a business. When they're not and shit happens, you can't expect the government to help out, why should they?
Having said that, I hope Palace make it through these dark times.”
“You don't, but the board and past owners do.
Football clubs should be run as a business. When they're not and shit happens, you can't expect the government to help out, why should they?
Having said that, I hope Palace make it through these dark times.”
that's why it is so hard to understand why this keeps happening most club chairman/owners are all successfill businessmen out side of football yet show a staggering level of incompitance when it comes to running a football club.
the government are being asked to help because they own HBOS
and it's them that are preventing any deal with CPFC2010 for the
ground because of their unreasonable anti-embarrasment clause.
what HBOS are asking for is an absolute disgrace and it's clear
they don't understand the seriousness of the situation. what
CPFC2010 have offered them is much more than reasonable
and if someone can intervene then Palace can still be saved
albeit at the very last minute.
and it's them that are preventing any deal with CPFC2010 for the
ground because of their unreasonable anti-embarrasment clause.
what HBOS are asking for is an absolute disgrace and it's clear
they don't understand the seriousness of the situation. what
CPFC2010 have offered them is much more than reasonable
and if someone can intervene then Palace can still be saved
albeit at the very last minute.
The Sun newspaper is saying that your team have until 3pm tomorrow to get everything sorted out or your club is going out of business. I feel that this is a real shame and something should be done. I feel for the fans and the players.
Brendan Guilfoyle has now been on TalkSport. He said that CPFC2010 have told him that they have come to an agreement with Simon Jordan over the CVA.
If that is true then the only thing preventing a full takeover by CPFC2010 is HBoS. How they can possibly ask for an "unlimited return" in the anti-embarrassment clause and think that's reasonable is beyond me. And yet that is what will finish our club off for good. We just have to hope and pray that HBoS see sense tomorrow and back down on that clause. If not, it's over and our club will cease to exist in a few days.
If that is true then the only thing preventing a full takeover by CPFC2010 is HBoS. How they can possibly ask for an "unlimited return" in the anti-embarrassment clause and think that's reasonable is beyond me. And yet that is what will finish our club off for good. We just have to hope and pray that HBoS see sense tomorrow and back down on that clause. If not, it's over and our club will cease to exist in a few days.
Excuse my ignorance and apologies if it's already been covered in the thread, but are we talking the possibility of Palace ceasing to exist as a Championship club?
Originally Posted by celesti:
“Excuse my ignorance and apologies if it's already been covered in the thread, but are we talking the possibility of Palace ceasing to exist as a Championship club?”
“Excuse my ignorance and apologies if it's already been covered in the thread, but are we talking the possibility of Palace ceasing to exist as a Championship club?”
Ceasing to exist, full stop, yes. The liquidation of the club will begin at 3pm tomorrow unless a deal can be agreed for the ground. The administrator has hinted that once the liquidation process begins it will only be a few days before the club is completely dissolved.
I've been away from the computer all afternoon. Come back to see everything happening.
So frustrated I couldn't get down to the ground today.
Tomorrow's gonna be really horrible.
So frustrated I couldn't get down to the ground today.
Tomorrow's gonna be really horrible.
Originally Posted by Sattrega:
“Brendan Guilfoyle has now been on TalkSport. He said that CPFC2010 have told him that they have come to an agreement with Simon Jordan over the CVA.
If that is true then the only thing preventing a full takeover by CPFC2010 is HBoS. How they can possibly ask for an "unlimited return" in the anti-embarrassment clause and think that's reasonable is beyond me. And yet that is what will finish our club off for good. We just have to hope and pray that HBoS see sense tomorrow and back down on that clause. If not, it's over and our club will cease to exist in a few days.”
“Brendan Guilfoyle has now been on TalkSport. He said that CPFC2010 have told him that they have come to an agreement with Simon Jordan over the CVA.
If that is true then the only thing preventing a full takeover by CPFC2010 is HBoS. How they can possibly ask for an "unlimited return" in the anti-embarrassment clause and think that's reasonable is beyond me. And yet that is what will finish our club off for good. We just have to hope and pray that HBoS see sense tomorrow and back down on that clause. If not, it's over and our club will cease to exist in a few days.”
it would seem Jordan may have finally realised just how
close to extinction we are.
as you say our only hope now is HBOS renegotiating
the anti embarrassment clause tomorrow to something
more reasonable which will allow CPFC2010 to fund the
club with immediate effect.
There'd at least be some kind of 'FC Palace' allowed to restart lower down the league in the worst-case scenario right? I can't imagine supporting a team one day and then it's just gone the next.
Originally Posted by Tusk0312:
“the government are being asked to help because they own HBOS
and it's them that are preventing any deal with CPFC2010 for the
ground because of their unreasonable anti-embarrasment clause.
what HBOS are asking for is an absolute disgrace and it's clear
they don't understand the seriousness of the situation. what
CPFC2010 have offered them is much more than reasonable
and if someone can intervene then Palace can still be saved
albeit at the very last minute.”
“the government are being asked to help because they own HBOS
and it's them that are preventing any deal with CPFC2010 for the
ground because of their unreasonable anti-embarrasment clause.
what HBOS are asking for is an absolute disgrace and it's clear
they don't understand the seriousness of the situation. what
CPFC2010 have offered them is much more than reasonable
and if someone can intervene then Palace can still be saved
albeit at the very last minute.”
The Government don't own HBOS, HBOS was taken over by Lloyds Bank, which the government have a stake of 43% in. Think you may be confusing HBOS (Halifax Bank of Scotland), with the Royal Bank of Scotland which the government owns around 85%.
Don't think you can in these economic times expect the government to rescue Football clubs.
Originally Posted by MartJ:
“The Government don't own HBOS, HBOS was taken over by Lloyds Bank, which the government have a stake of 43% in. Think you may be confusing HBOS (Halifax Bank of Scotland), with the Royal Bank of Scotland which the government owns around 85%.
Don't think you can in these economic times expect the government to rescue Football clubs.”
“The Government don't own HBOS, HBOS was taken over by Lloyds Bank, which the government have a stake of 43% in. Think you may be confusing HBOS (Halifax Bank of Scotland), with the Royal Bank of Scotland which the government owns around 85%.
Don't think you can in these economic times expect the government to rescue Football clubs.”
yes, i meant to say "have a large stake in" instead of own
but i had a head of steam up.
guilfoyle has said the consortium will pull out completely
if players start to be sold tomorrow. but david jensen has
just said on bbc london it depends what players.
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