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Glad All Over!

Here's hoping that the takeover can now go through smoothly and we can start to look forward to next season in the Championship!

Crystal Palace consortium confident of deal after club dramatically avoids liquidation - Telegraph



( 4 comments — Leave a comment )
Jun. 2nd, 2010 08:17 am (UTC)
very pleased for you- never nice to see a club struggling. Now for the premiership, eh? :-)
Jun. 2nd, 2010 07:29 pm (UTC)
Re: huzzah!
Thanks :)

IF we can keep the majority of the current squad together and IF we appoint a decent manager - two BIG ifs - we've got a chance of making the playoffs. That's assuming the takeover all goes through OK now - fingers crossed!
Jun. 2nd, 2010 10:47 am (UTC)
Whilst it's unfashionable to defend the banks, it seems to me from the slightly vague details of the dispute with Lloyds/HBos that the consortium were trying to have their cake and eat it - offering below the potential value of the ground, with nothing more than interest on the difference should it be resold subsequently. In other words, a disguised loan. Given the dire state of most football club finances and Palace's sorry recent history, it's not hard to see why that wasn't attractive to the bank. It's not clear from the press reports of the deal how this was resolved, but I'd be surprised if the bank moved much, in which case the whole thing looks like brinksmanship frpm the consortium to try and screw a better deal out.

Relieved that it seems to have been sorted out, though.

Who's next for the Russian roulette? Hull?
Jun. 2nd, 2010 07:32 pm (UTC)
Well, according to the CPFC 2010 statement, they thought they'd agreed a deal, then the paperwork arrived with an unlimited "anti-embarrassment" clause added. Who knows what really happened - I blame Ron Noades for putting us in this position 13+ years ago when he separate the club and the ground.

Anyway, hopefully we can get back to "normal" - whatever that is - in time for the start of the new season!
( 4 comments — Leave a comment )

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