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General Palace Discussion General Palace talk - please keep transfer talk in the transfer forum.

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  #21  
Old 23-10-2019, 05:05 PM
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Originally Posted by Baffled Bob 2 View Post
How can we possibly need £22m? I genuinely don't get it.
Balance the books ahead of the end of the tax year? Or maybe FFP?

As I say it could be that we want the money available for the January transfer window and it helps with the above in order to do so.
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  #22  
Old 23-10-2019, 05:10 PM
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Originally Posted by Baffled Bob 2 View Post
How can we possibly need £22m? I genuinely don't get it.
Cash flows
From memory the epl tv payments are not received in one big chunk but spread to it over the course of the year
In the meantime wages and other operating costs still need to be paid
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  #23  
Old 23-10-2019, 05:11 PM
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  #24  
Old 23-10-2019, 05:13 PM
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  #25  
Old 23-10-2019, 05:14 PM
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Originally Posted by TheMexicanHorse View Post
Cash flows
From memory the epl tv payments are not received in one big chunk but spread to it over the course of the year
In the meantime wages and other operating costs still need to be paid
I do hope it's not that, bearing in mind there was no guarantee we were going to get £45m for AWB - therefore what kind of desperate straits would we be in now if that deal hadn't completed? I hope it's for a major capital investment in January.

It seems likely though that had Simon Jordan pulled something like this, questions would be asked.
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  #26  
Old 23-10-2019, 05:14 PM
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Originally Posted by TheMexicanHorse View Post
Cash flows
From memory the epl tv payments are not received in one big chunk but spread to it over the course of the year
In the meantime wages and other operating costs still need to be paid
Cash flows I get. But this is our 7th season of Premier League money. Surely the owners know by now how much our operating costs are for the first half of the season. Should we have kept a bit back from last year?

How would we have coped without the AWB money?
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  #27  
Old 23-10-2019, 05:15 PM
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  #28  
Old 23-10-2019, 05:21 PM
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Quote:
Originally Posted by Bipe View Post
I do hope it's not that, bearing in mind there was no guarantee we were going to get £45m for AWB - therefore what kind of desperate straits would we be in now if that deal hadn't completed? I hope it's for a major capital investment in January.

It seems likely though that had Simon Jordan pulled something like this, questions would be asked.
Could be for a number of reasons

Parish mentioned an announcement about the academy didnít he? Maybe itís going towards the building for That?

You could speculate all day to be honest. In the meantime wages still need to be paid. Also remember Palace will be paying out on fees for transfers done in the past still.
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  #29  
Old 23-10-2019, 05:24 PM
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How often do the Premier League and/or TV rights pay out? I suspect only during the off season.

Most likely to me is topping up the balance sheet prior to the transfer window and/or tax season.

Or we can't pay Christian Benteke's wages this month...

Or as MexicanHorse says... money to invest in the Academy.
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  #30  
Old 23-10-2019, 05:24 PM
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Quote:
Originally Posted by TheMexicanHorse View Post
Could be for a number of reasons

Parish mentioned an announcement about the academy didnít he? Maybe itís going towards the building for That?

You could speculate all day to be honest. In the meantime wages still need to be paid. Also remember Palace will be paying out on fees for transfers done in the past still.
You are usually a pretty wise head on these matters. So if you're relaxed, I'm relaxed.

But if the Americans run off with all the money and we're in administration by February then I will hold you personally responsible.
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  #31  
Old 23-10-2019, 05:29 PM
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I guess this is done to so the club does not need to take up any more loans for strengthening the squad in January. Despite the cash influx in the Premier League, teams like Palace haven't got £22 million in the bank to spend at their will, so they will have to loan towards future income. This prevents that, unless they spend more than £22 million, of course
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  #32  
Old 23-10-2019, 05:36 PM
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Quote:
Originally Posted by Baffled Bob 2 View Post
You are usually a pretty wise head on these matters. So if you're relaxed, I'm relaxed.

But if the Americans run off with all the money and we're in administration by February then I will hold you personally responsible.
Deal
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  #33  
Old 23-10-2019, 06:09 PM
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Am hoping itís towards batshuyi. And the academy news would be good also
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  #34  
Old 23-10-2019, 06:34 PM
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If it is for transfers (let's hope so) does anyone know why this is happening now rather than in 2 months?
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  #35  
Old 23-10-2019, 06:45 PM
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You are usually a pretty wise head on these matters. So if you're relaxed, I'm relaxed.

But if the Americans run off with all the money and we're in administration by February then I will hold you personally responsible.
I wouldn't have been concerned about this normally but with the Americans wanting out and us making a loss it is a bit of a worry. We were supposed to be buying that Russian in the summer for £16m so where's the money for that?

With no news on the stadium and a rapidly ageing squad I feel a bit uneasy about things like this, regardless of whether other clubs do it or not. Seems clear to me the Americans don't want to invest another cent.
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  #36  
Old 23-10-2019, 06:50 PM
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There is no need to worry at all. This happens all the time but the company in question providing the finance doesn’t always register a Charge against the business (Palace) - Macquarie do.

Although the £45m is guaranteed from Man U it will be spread over a period of months\years. Palace have to pay VAT on transfers and HMRC want it paid almost immediately!!! What’s left will be used for working capital within the business and possibly to fund other potential outgoings such as transfers or the academy.

Standard practice these days.
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  #37  
Old 23-10-2019, 06:51 PM
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So a £22m loan....hmmm.

How much are Chelsea said to want for Bats again???

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  #38  
Old 23-10-2019, 06:54 PM
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So have Manchester United paid Palace anything for AWB yet, or is this loan on the strength of the second installment?
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  #39  
Old 23-10-2019, 06:57 PM
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How can we possibly need £22m? I genuinely don't get it.
Not sure that's been said too many times in the 114 years of CPFC
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  #40  
Old 23-10-2019, 06:59 PM
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So have Manchester United paid Palace anything for AWB yet, or is this loan on the strength of the second installment?
Macquarie pay Palace now, Man Utd now pay Macquarie the £22.5m due in July instead of Palace.
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