Palace Supporters Thread

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Sattrega

01-06-2010

More news!

Quote:
“ADMINISTRATOR Brendan Guilfoyle has admitted that the deadline to begin the liquidation of Crystal Palace is likely to slip as "significant progress" has been made in the negotiations.

The CPFC 2010 consortium released a statement yesterday stating that if no deal had been agreed on the purchase of Selhurst Park by 3pm this afternoon, Guilfoyle would begin to sell off the club’s top players.

Darren Ambrose will be the first to leave with a £750,000 switch to Queens Park Rangers already agreed.

However, Guilfoyle has been informed that 2010 and Lloyds Banking Group - the chief creditors in the Selhurst Park administration - are in direct contact and that a deal is now close.

“The 3pm deadline is not set in stone by me, of course I will give 2010 the time to negotiate the deal,” he said. “The bank are telling me they are now fully engaged with the consortium and significant progress has been made on the sale of the stadium.

"Apparently they are very close to sealing a deal, so things are looking positive."”

Keep everything crossed!

Larry1971

01-06-2010

listening to SSN, things do seem to be a bit more positive.

Sattrega

01-06-2010

Originally Posted by Larry1971:
“listening to SSN, things do seem to be a bit more positive.”

Just been watching, too. BG definitely sounds more positive than he did yesterday. Good news that any player sales has been suspended for now. Just got to hope that CPFC2010 & Lloyds can reach agreement before close of business today.

Terrence Chant

01-06-2010

Pleased to hear things are moving in the right direction

Blackadder V

01-06-2010

Come on Palace!

If they stay alive then hopefully attendances will rise next season and more money gets put into the club that way.

Sattrega

01-06-2010

Lloyds have released another statement saying that an agreement has been reached to sell Selhurst Park to CPFC2010 in principal.

Still a couple of sticking points, namely the funding of the club and when CPFC2010 can start that.

Not out of the woods yet but as things stand it's all looking alot better than it did this morning.

Sattrega

01-06-2010

One of the statements:

Quote:
“PricewaterhouseCoopers LLP has reached an agreement in principle with CPFC 2010 in relation to the sale of Selhurst Park. This enables the consortium to go ahead with the purchase of both the Crystal Palace Football Club and Selhurst Park.

We have worked hard throughout this process to achieve a durable solution. We are pleased a successful conclusion has now been reached. We are also pleased that PricewaterhouseCoopers LLP, which acts on behalf of Selhurst Park, has publicly acknowledged today the ongoing support it has received from the Bank.”

-Bandit-

01-06-2010

today has been a nightmare as i've not been able to get to a computer. i'm not getting over excited yet about the news as there is still a couple of things to iron out but i'm so happy that lloyds & cpfc2010 have reached an agreement albeit in principal. and its brilliant news that player sales have been suspended. still got to keep those fingers crossed that it all falls into place now.

Sattrega

01-06-2010

From the BBC:

Quote:
“Crystal Palace have been saved from extinction after an agreement was reached in principle for CPFC 2010 to buy the club and Selhurst Park.

The club's administrator gave the consortium until 1500 BST on Tuesday to reach an agreement with Lloyds Bank before starting to liquidate the club.

CPFC 2010 are a group of businessmen headed by Palace fans Steve Parish and Martin Long.

Hundreds of Palace fans had met outside the bank's headquarters to protest.

A statement from Lloyds Bank read: "(Stadium administrator) PricewaterhouseCoopers has reached an agreement in principle with CPFC 2010 in relation to the sale of Selhurst Park.

"This enables the consortium to go ahead with the purchase of both the Crystal Palace Football Club and Selhurst Park."”

Larry1971

01-06-2010

Originally Posted by Sattrega:
“Lloyds have released another statement saying that an agreement has been reached to sell Selhurst Park to CPFC2010 in principal.

Still a couple of sticking points, namely the funding of the club and when CPFC2010 can start that.

Not out of the woods yet but as things stand it's all looking alot better than it did this morning.”

lets just hope you can now get the money together .

-Bandit-

01-06-2010

Originally Posted by Larry1971:
“lets just hope you can now get the money together .”

i think the money is there, it's just a case of dotting i's and crossing t's. plus i hear there's a couple of legal issues to finalise. but it's a massive step in the right direction today.

Larry1971

01-06-2010

Originally Posted by -Bandit-:
“i think the money is there, it's just a case of dotting i's and crossing t's. plus i hear there's a couple of legal issues to finalise. but it's a massive step in the right direction today.”

wasn't Richard Branson, once involved with Palace, as I'm sure I read some where he was a Palace fan, if that's so you'd think he could of put some money into the consortium

Joooe

01-06-2010

Happy happy happy.

What a nerve-racking day. Let's get it all signed and sealed and we can party!

-Bandit-

01-06-2010

Originally Posted by Larry1971:
“wasn't Richard Branson, once involved with Palace, as I'm sure I read some where he was a Palace fan, if that's so you'd think he could of put some money into the consortium”

yeah, virgin sponsered us for years in the late eighties & early nineties. rumour was he did look at the books when we went into administration but chose not to proceed any further.

Sattrega

01-06-2010

Originally Posted by Joooe:
“Happy happy happy.

What a nerve-racking day. Let's get it all signed and sealed and we can party! ”

It was unbearable. Fingers crossed everything else now becomes a formality then maybe, just maybe we can start discussing things like a new manager and new players etc.

-Bandit-

01-06-2010

click me

KJ44

01-06-2010

Originally Posted by Joooe:
“Happy happy happy.

What a nerve-racking day. Let's get it all signed and sealed and we can party! ”

Originally Posted by -Bandit-:
“click me

”

Typical last second Palace. I have been subdued to say the least for the last 24 hours.

A word of appreciation for all the lurkers on this thread who've been wishing us well.

Even if all you want is 6 points off us next season.

ITV evening news covered today in some depth.

Sattrega

01-06-2010

Originally Posted by -Bandit-:
“click me

”

Can't seem to find out if a date for the CVA has been agreed yet. A few dates are being banded about but no one seems to know for certain. Does CPFC2010 start to fund the club before the CVA meeting or will they wait until after?

-Bandit-

01-06-2010

Originally Posted by Sattrega:
“Can't seem to find out if a date for the CVA has been agreed yet. A few dates are being banded about but no one seems to know for certain. Does CPFC2010 start to fund the club before the CVA meeting or will they wait until after?”

still think there's a 14 day notice period so assuming that hasn't been given yet and that notice goes out tomorrow the earliest it will be is june 16th. and that would be handy as the fixtures are released the following day.

Sattrega

01-06-2010

Originally Posted by -Bandit-:
“still think there's a 14 day notice period so assuming that hasn't been given yet and that notice goes out tomorrow the earliest it will be is june 16th. and that would be handy as the fixtures are released the following day.”

Just been hearing BG on Radio London and he said it will be sometime in June as a few things need to be sorted out yet. So, we play the waiting game once more.

Tusk0312

01-06-2010

Originally Posted by Sattrega:
“Not out of the woods yet but as things stand it's all looking alot better than it did this morning.”

that's the most important bit. there is no doubting that
today's events have been a huge boost to our survival
but we're not there yet and we all need to remember that.
the consortium still have to finalise the deal with Lloyds
and make it official. then we have to get the CVA passed
and then the takeover has to be ratified by the Football
League. we're still 2 or 3 weeks away from absolute
survival.
the next big step is when CPFC 2010 start funding the club
as that would confirm that no one will have to be sold and
that all staff will once again recieve their wages.

k9fan

01-06-2010

http://www.holmesdale.net/
Crystal Palace have been saved from liquidation after an agreement was made in principle for the CPFC 2010 consortium to purchase the club and Selhurst Park.

Larry1971

02-06-2010

Originally Posted by k9fan:
“http://www.holmesdale.net/
Crystal Palace have been saved from liquidation after an agreement was made in principle for the CPFC 2010 consortium to purchase the club and Selhurst Park.

”

it's certainly good news for Palace, and lets just hope that everything is sorted out soon.

Sattrega

02-06-2010

Originally Posted by Tusk0312:
“the next big step is when CPFC 2010 start funding the club
as that would confirm that no one will have to be sold and
that all staff will once again recieve their wages.”

CPFC2010 have said they hope to be having a press conference on Thursday. Hopefully all will be revealed about funding etc then.

-Bandit-

02-06-2010

we're getting there slowly but surely.

Quote:
“THE consortium closing in on a deal to take Crystal Palace out of administration are expected to agree to finance the club from tomorrow.

After yesterday's news that a conditional deal has been agreed for CPFC 2010 to buy the freehold of Selhurst Park, administrator Brendan Guilfoyle put on hold his plans to begin the liquidation process by selling off the club's star assets.

Guilfoyle said that he will stall the process while "negotiations are ongoing" but had hoped the contracts would be signed today.

However, speaking to the Advertiser this morning, the administrator revealed that the complexities of the deal mean the process will now drag on until tomorrow when 2010 are expected to announce their plans for the future of the club.

"I've heard that a press conference is being planned for tomorrow," he said. "A lawyer has told me that there are still a few points to iron out and it seems likely that won't be finished until tomorrow.

"So I'm still waiting for the funding, but I have been assured that it is on its way."

Guilfoyle is yet to pay the club's wages for May and was forced to lay-off 29 members of staff last Friday as he has no money left in the pot.

Darren Ambrose's transfer to Queens Park Rangers had been lined up to cover the costs but that is now on hold until 2010 have a chance to talk to the player.”

link

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