Shame!
Crystal Palace FC in administration
Not realy Eagle; Bradford, currentlly trading in League 2, Leeds in League 1 and Luton in the Conference would beg to differ with your analysis. Wimbledon went into administration and splintered into two clubs; one in the conference and the other in League 1.Eagle wrote:Very sad but all other clubs that have gone into admin seem to come out stronger in the end.
They were not going anywhere with debts of GBP30million. This has to be faced better now than a year down the road.
Administration for any business is drastic but when it is a local football club the fall out hurts; local suppliers only getting 10p in the £ etc, staff losing their jobs. Of the 36 Football league administrations between 2001 and 2009 the St Johns Ambulance and First Aid are the most numerous creditors.
Its bad news for Palace fans and bad news for the local economy.
I agree with Simon. This is terrible news not only for ardent CPFC followers like ALIB but also for the creditors.
It seems as if the 10pts deduction is a bit of a quick-fix for clubs these days. Palace still might not go down even with this 10pt fine. As a result the only people to suffer are the creditors and the loyal fan. The creditors will be lucky to get 10p in the £1 (if my memory serves they'll be lucky to get 1p per £1) which will impact on local firms. The average fan will suffer as the available talent gets sold off for buttons. Any club that comes in with cash up-front will be able to walk away with the prized assets for a pittance. I don't see Victor Moses being there for much longer.
I think it will be a long time until we see Palace or Charlton in a position of strength for a while. Not too long ago I bought a CPFC season ticket and saw Palace V Charlton in the PL...seems a long time ago now. Especially when you consider what has happened to both clubs since then.
It seems as if the 10pts deduction is a bit of a quick-fix for clubs these days. Palace still might not go down even with this 10pt fine. As a result the only people to suffer are the creditors and the loyal fan. The creditors will be lucky to get 10p in the £1 (if my memory serves they'll be lucky to get 1p per £1) which will impact on local firms. The average fan will suffer as the available talent gets sold off for buttons. Any club that comes in with cash up-front will be able to walk away with the prized assets for a pittance. I don't see Victor Moses being there for much longer.
I think it will be a long time until we see Palace or Charlton in a position of strength for a while. Not too long ago I bought a CPFC season ticket and saw Palace V Charlton in the PL...seems a long time ago now. Especially when you consider what has happened to both clubs since then.
Last edited by Ulysses on 28 Jan 2010 17:49, edited 1 time in total.
this could be the tip of the iceberg.
Simon Jordan (the Chairman) may have financed some of his deals contrary to FL regulations. If this is the case, CPFC could be open to additional points deductions and fines.
In the short-term the Adminstrators are effectively controlling the club. This was the reason that Victor Moses did not play in last nights defeat to Newcastle.
No coubt more will be revealed as the Administrators get to work. It leaves CPFC on very shakey ground as they will need a new purchaser very quickly.
The major problem with this is that the club do not own the stadium or their training ground, and therefore have little tangible assets. They are also making large monetary losses, which will not be attractive to any potential purchaser.
in the meantime Ulyesses is correct that any players with any value will be sold off quickly to pay creditors, thus detracting from the team.
It's bad at the moment, but may well get a whole lot worse.
Simon Jordan (the Chairman) may have financed some of his deals contrary to FL regulations. If this is the case, CPFC could be open to additional points deductions and fines.
In the short-term the Adminstrators are effectively controlling the club. This was the reason that Victor Moses did not play in last nights defeat to Newcastle.
No coubt more will be revealed as the Administrators get to work. It leaves CPFC on very shakey ground as they will need a new purchaser very quickly.
The major problem with this is that the club do not own the stadium or their training ground, and therefore have little tangible assets. They are also making large monetary losses, which will not be attractive to any potential purchaser.
in the meantime Ulyesses is correct that any players with any value will be sold off quickly to pay creditors, thus detracting from the team.
It's bad at the moment, but may well get a whole lot worse.
Bring back our last good Chairman Arthur Wait. Would not have happened under his watch.
Problems I think mainly at door of Noades who sold the club but not the ground. FA should never allow ground and team ownership to be separated. I well remember contributing over the years to numerous raffles etc to improve the ground , which we naively assumed would always remain with the club.
Problems I think mainly at door of Noades who sold the club but not the ground. FA should never allow ground and team ownership to be separated. I well remember contributing over the years to numerous raffles etc to improve the ground , which we naively assumed would always remain with the club.
Your post just triggered something Eagle.
In the mid-80's I briefly attended Montgomery Junior School in Colchester. My teacher, games master and coach of our excellent football team was Mr Vaughn/Vaughan.
Now, whilst he was very humble the other teachers told us he was quite a player during the 50's/60's for Palace. Did you know this player? Afraid I cannot offer any more than what we knew him as. There was one of Charlton's better players called Charlie Vaughan in the 50's who left CAFC but I'm not sure if he came to CPFC.
This is why I've always had a bit of a soft-spot for Palace...can you shed any light please Eagle.
In the mid-80's I briefly attended Montgomery Junior School in Colchester. My teacher, games master and coach of our excellent football team was Mr Vaughn/Vaughan.
Now, whilst he was very humble the other teachers told us he was quite a player during the 50's/60's for Palace. Did you know this player? Afraid I cannot offer any more than what we knew him as. There was one of Charlton's better players called Charlie Vaughan in the 50's who left CAFC but I'm not sure if he came to CPFC.
This is why I've always had a bit of a soft-spot for Palace...can you shed any light please Eagle.
The politics of business have a big part to play.
Ron Noades sold the club (without the ground) to Mark Goldberg. Noades always maintained it was because Goldberg didn't have enough money, so rather than let Golberg get finance to buy the ground (and thus risk repossesion by the bank), Noades kept the stadium and training ground and rented them to Goldberg.
Subsequently Goldberg took Palace to the brink of Adminisration (no doubt helped by the financial dealings of Terry Venables)
Palace were then bought by Simon Jordan, who in his 10 year reign has made several attemps to purchase the gound and training facilities, but Ron Noades refused to sell- preferring to lease the ground to the club.
Simon Jordan then sought the help of Rock Investments in puchasing the ground from Ron Noades, with the option of buying the ground at a fixed price, once Jordan had the money.
Rock have since gone into administration. Palace cannot be forced out of the ground unless they default on the lease payments,...which they have.
SJ has mortgaged himself to the hilt (he is personally liable for the majority of the loans), the last company he dealt with was Aglio. Aglio market themselves as being able to lend money to distressed companies and they were the ones that forced administration.
This is a summary, but the real situation os obviously far more complicated.
Ron Noades sold the club (without the ground) to Mark Goldberg. Noades always maintained it was because Goldberg didn't have enough money, so rather than let Golberg get finance to buy the ground (and thus risk repossesion by the bank), Noades kept the stadium and training ground and rented them to Goldberg.
Subsequently Goldberg took Palace to the brink of Adminisration (no doubt helped by the financial dealings of Terry Venables)
Palace were then bought by Simon Jordan, who in his 10 year reign has made several attemps to purchase the gound and training facilities, but Ron Noades refused to sell- preferring to lease the ground to the club.
Simon Jordan then sought the help of Rock Investments in puchasing the ground from Ron Noades, with the option of buying the ground at a fixed price, once Jordan had the money.
Rock have since gone into administration. Palace cannot be forced out of the ground unless they default on the lease payments,...which they have.
SJ has mortgaged himself to the hilt (he is personally liable for the majority of the loans), the last company he dealt with was Aglio. Aglio market themselves as being able to lend money to distressed companies and they were the ones that forced administration.
This is a summary, but the real situation os obviously far more complicated.
Thanks for summary.
My contention is that a lot of the value of the stadium was from donations from supporters over the decades , which they would not have given if they had believed the ground could be taken from the club.
Re losing the ground , of course this is possible but only if Croydon Council allow a change of use, which they should not. I cannot see any other football or other team needing the stadium.
Perhaps Palace should consider moving to NEC. I know has been mooted in the past. With the shortly to be improved transport links maybe a batter proposition.
Yes Noades bad for Palace abd Football. Anyone who can simply change their support from one club to another is not a true fan and cannot understand the true fan.
Goldberg very naive , Jordan I think did his best mostly ( but maybe more info to surface ).
Croydon Council should make it clear that the land will not re rezoned for housing.
Very sad time all round but I think many clubs are in a bad situation.
I do not recall a Vaugn playing for Palace in the 60's. Although did go to first match in 58 , did not go on a regular basis until 62/63.
My contention is that a lot of the value of the stadium was from donations from supporters over the decades , which they would not have given if they had believed the ground could be taken from the club.
Re losing the ground , of course this is possible but only if Croydon Council allow a change of use, which they should not. I cannot see any other football or other team needing the stadium.
Perhaps Palace should consider moving to NEC. I know has been mooted in the past. With the shortly to be improved transport links maybe a batter proposition.
Yes Noades bad for Palace abd Football. Anyone who can simply change their support from one club to another is not a true fan and cannot understand the true fan.
Goldberg very naive , Jordan I think did his best mostly ( but maybe more info to surface ).
Croydon Council should make it clear that the land will not re rezoned for housing.
Very sad time all round but I think many clubs are in a bad situation.
I do not recall a Vaugn playing for Palace in the 60's. Although did go to first match in 58 , did not go on a regular basis until 62/63.
Thanks for that Eagle. It would help if I knew his first name/position and whether or not he played 1 game or 100 games. Other teachers said he almost broke into the England set-up which would chime with the Charlton fella...although even then a journey across South London not too many made! When we asked he was to humble too talk about it, ever.
As for CPFC moving home it would be good if they came back to Sydders. I guess it's whether or not they can strike up a deal with Sport For England for use of the National Sports Centre. Thornton Heath or wherever their ground currently is was/is a nightmare to get to and from. I'd often end up walking as it was quicker than bus or train.
Here's one I've always wondered about. Why are Palace called The Eagles?
As for CPFC moving home it would be good if they came back to Sydders. I guess it's whether or not they can strike up a deal with Sport For England for use of the National Sports Centre. Thornton Heath or wherever their ground currently is was/is a nightmare to get to and from. I'd often end up walking as it was quicker than bus or train.
Here's one I've always wondered about. Why are Palace called The Eagles?
Last edited by Ulysses on 28 Jan 2010 17:34, edited 1 time in total.
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nork1
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Not sure of the reason but it was Malcolm Allison who changed the nickname from 'Glaziers' to 'Eagles' and introduced the red and blue strip.
It's been a sad sad week for the Palace, 10 years on and we're back where we bloody started. Administration was always on the cards but now it's happened it's like a smack in the face.
There is a bit of good news... Neil Warnock has vowed to see us through administration... http://news.bbc.co.uk/sport1/hi/footbal ... 484824.stm
Listening to last night's game it sounds like we should've buried Newcastle and are up for the fight. Looking forward to shouting myself hoarse on Saturday... C'MON PALACE!
It's been a sad sad week for the Palace, 10 years on and we're back where we bloody started. Administration was always on the cards but now it's happened it's like a smack in the face.
There is a bit of good news... Neil Warnock has vowed to see us through administration... http://news.bbc.co.uk/sport1/hi/footbal ... 484824.stm
Listening to last night's game it sounds like we should've buried Newcastle and are up for the fight. Looking forward to shouting myself hoarse on Saturday... C'MON PALACE!
Yes I remember Malcolm changing the name along with his Fedora.
That was a team Don Rogers , Alan Whittle , Yogi Hughes etc.
Always wondered why he changed the name The Glaziers made great sense for a team of workmen from a glass palace.
Anyone else remember Cliff Holton and Cliff Burridge in the promotion year 62/63 from 3rd division.
That was a team Don Rogers , Alan Whittle , Yogi Hughes etc.
Always wondered why he changed the name The Glaziers made great sense for a team of workmen from a glass palace.
Anyone else remember Cliff Holton and Cliff Burridge in the promotion year 62/63 from 3rd division.
Cheers nork1. Perhaps there's no real reason...Eagles soar and all that?
Routledge has come to epitomise a lot of what has gone wrong. Frankly I thought he was c**p the season Palace were in the top flight but for some reason the spuds took a shine (maybe as he was young & English). Rather than do the right thing Wayne turned his back on the club that had helped his family overcome abject poverty...if he'd signed at least Palace would have got the going rate for him.
I've taken great delight in him bombing at Spurs and being rubbish for QPR et al [seriously they've got Hall, Leigertwood and someone else from the '05 season...Palace mkII?] then of course he signs for the toon yesterday.
I wish him no luck at all.
Yeah it's unfair to blame all or some/any of this on Routledge. Maybe I just can't stand him.
Routledge has come to epitomise a lot of what has gone wrong. Frankly I thought he was c**p the season Palace were in the top flight but for some reason the spuds took a shine (maybe as he was young & English). Rather than do the right thing Wayne turned his back on the club that had helped his family overcome abject poverty...if he'd signed at least Palace would have got the going rate for him.
I've taken great delight in him bombing at Spurs and being rubbish for QPR et al [seriously they've got Hall, Leigertwood and someone else from the '05 season...Palace mkII?] then of course he signs for the toon yesterday.
I wish him no luck at all.
Yeah it's unfair to blame all or some/any of this on Routledge. Maybe I just can't stand him.
Sorry to hear this news - I hope Palace don't go out of business or drop down a division - but they aren't the first club to go into administration, and they won't be the last.
Not withstanding any possible mismanagement, the whole basis on which professional football is run and financed is unsustainable, and these pressures are likely to mount. Too many clubs have costs way in excess of revenues, whilst not enough fans can see the game or feel the same level of attachment they once did. As a result, I think the football world will look very different in five or ten years time. Hopefully things can be changed round for the better so that clubs have a lower cost base (wage cuts would be a good place to start, as would more ground-sharing) and with a more involved relationship with their local fan base (community trusts are one, by no means perfect, alternative to ownership by a tycoon).
Not withstanding any possible mismanagement, the whole basis on which professional football is run and financed is unsustainable, and these pressures are likely to mount. Too many clubs have costs way in excess of revenues, whilst not enough fans can see the game or feel the same level of attachment they once did. As a result, I think the football world will look very different in five or ten years time. Hopefully things can be changed round for the better so that clubs have a lower cost base (wage cuts would be a good place to start, as would more ground-sharing) and with a more involved relationship with their local fan base (community trusts are one, by no means perfect, alternative to ownership by a tycoon).
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nork1
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I've got to agree with the Routledge comments. It didn't upset me too much when he went - losing a winger who could cross a ball and whose corners got past the first man would've been more of a blow. It's the manner in which he went after Spurs dangled the carrot that bugged me and it was much the same with Bostock. Palace invested a lot of time and money in their youth policy but it all seems to be for the benefit of 'bigger' clubs.