Clubs in trouble

[Countryside Villain]

Soon to be Cristal Palace, private members club

[Risso]

Expect Hull to go the way of Portsmouth when they're relegated:

Going concern problems

[Simon Ward]

Expect Hull to go the way of Portsmouth when they're relegated:

Going concern problems

I expect a whole raft of going concern issues as more football clubs file their year end accounts!

[Concrete John]

I'm still waiting to see what happens to 'The Mighty Reds YNWA' if/when they don't qualify for next year's Champions League!

[Guy M]

Excellent news for Palace fans.
They'll be known as: Cryssie, Crys, C Pally and/or C Pilly.

HA HA, excellent stuff Troy!

Expect Hull to go the way of Portsmouth when they're relegated:

Going concern problems

I expect a whole raft of going concern issues as more football clubs file their year end accounts!

How have Hull managed to get themselves in such difficulty? It's not as though they've really bought anyone of any note or any great expense (other than Injury Bullard).

Being too lazy to dig too far, is this a case of them overspending on their way up the divisions or is the cost of the new stadium also part of it?

I know they don't get massive crowds and assume they don't pay Spuds-like prices to attend, but I'd always assumed they were being relatively well and tightly run.

[Risso]

Being too lazy to dig too far, is this a case of them overspending on their way up the divisions or is the cost of the new stadium also part of it?

I know they don't get massive crowds and assume they don't pay Spurs-like prices to attend, but I'd always assumed they were being relatively well and tightly run.

Hull council owns the stadium, as they paid for it to be rebuilt.  Their problems are entirely down to overspending.

[Concrete John]

I think Hull's problems stem from paying huge wages to average players.

[WALTERS WARRIORS]

The trouble is a club like Hull had to pay high wages to average players just to get them there. Its a no win situaton. They need about three seasons in the PL to raise money and to become more established ....

[KONSPIRACY]

I'm still waiting to see what happens to Liverpool if/when they don't qualify for next year's Champions League!

I wonder if the powers that be will find a way to give them a CL spot if they manage to win the Europe League. Wouldnt surprise me in the slightest.

[JUAN PABLO]

I think Hull's problems stem from paying huge wages to average players.

 I  heard the sun bed bill was huge ;-)

[WALTERS WARRIORS]

I think Hull's problems stem from paying huge wages to average players.

 I  heard the sun bed bill was huge ;-)

Will be halfed now Phils gone .........

[TheSandman]

Their chairman should try to exploit different revenue streams. Official Bullard and Dowie Gargoyles/Grotesques might be a good idea for merchandising.

[BannedUserIAT]

I wonder if we'll finally start to see the effect of financial hardship in clubs reflected in players obscene salaries?

Chairmen surely now must realise that they're perilously close to the end of the rainbow and the pot of gold isn't big enough to cover costs?

And, clearly, we're not just talking about the smaller clubs here. Villa's wage bill is stupid. Liverpool could well be in the shit when they don't get CL. The next few years for Man Utd will be interesting as I'm sure they can only refinance so many times before their financiers realise it's all a big piss-take and then we're seeing more and more smaller clubs mentioned in this thread.

Sooner or later, players will have very limited clubs at which to suck their money from. They'll be forced to take a pay cut. And I for one, hope it's a trend that continues for a long time to come.

[ADVILLAFAN]

I was just looking at the clubs near the bottom and their remaining fixtures.

Even if Portsmouth win 6 of their 8 remaining games, they'll still go down I think.

They can now be officially classed as a club in trouble *winky-binky emoticon*

[TheSandman]

Oh dear oh dear oh dear

Crystal Palace could be liquidated unless the group trying to buy the club can seal a deal by 1500 BST on Tuesday.

CPFC 2010 has been given the deadline by Agilo, the hedge fund that put the Eagles into administration in January.

The group has agreed terms on a deal to buy the club but will not proceed until they secure Selhurst Park, which is being sold by Bank of Scotland.

But a statement from CPFC 2010 on the Palace website says the deal presented by the bank is "unworkable".

CPFC 2010, a group of local businessmen headed by Palace fans Steve Parish and Martin Long, were named as the administrators' preferred bidders in March.

However, with the deadline to buy the club now looming, the Championship club could be no more if the consortium fails to reach an agreement to buy Selhurst Park.

The statement read: "We are trying 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 CPFC 2010 have always made it clear they will not proceed without securing it.

"We reached 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."

The sticking point in the negotiations appears to be over how much money the bank would receive if Selhurst Park was re-sold in the future.

Bank of Scotland have agreed to sell the ground to CPFC 2010 for a price lower that what a property developer may be prepared to pay but has asked for a share of any profit if it was sold again.

The consortium claim they have 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."

However, the two parties now seem to disagree on how much that "further return" would be.

The statement continued: "It seems that the bank want to make an 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.

"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."

The statement concludes by saying: "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, and with a 100-year history, consigned to the scrapheap."

Palace avoided relegation from the Championship on the final day of the season with a 2-2 draw at Sheffield Wednesday that condemned the Owls to League One.

The club currently does not have the money to pay its staff their wages for May and on Friday made 29 people redundant.

Fans were planning to hold a demonstration at Selhurst Park on Monday to highlight the club's plight.

Sad, always had a soft spot for Palace.