Owl.1867 Posted June 2, 2020 Share Posted June 2, 2020 https://www.theguardian.com/football/the-agony-and-the-ecstasy/2020/jun/01/crystal-palace-relegation-liquidation-10-years-ago Written by a Palace fan, looking back at their miraculous escape... We were absolutely rotten at this time and truly deserved to go down but I still have a special hatred for clubs such as Palace and Leicester who took the administration route before returning to spending beyond their means and now live it up off the back of that. 4 1 Link to comment Share on other sites More sharing options...
Blue and white Posted June 2, 2020 Share Posted June 2, 2020 (edited) 52 minutes ago, Owl.1867 said: https://www.theguardian.com/football/the-agony-and-the-ecstasy/2020/jun/01/crystal-palace-relegation-liquidation-10-years-ago Written by a Palace fan, looking back at their miraculous escape... We were absolutely rotten at this time and truly deserved to go down but I still have a special hatred for clubs such as Palace and Leicester who took the administration route before returning to spending beyond their means and now live it up off the back of that. We should have done when were 27m in debt and on the brink of going under, instead we lumbered on doing the RIGHT thing and now look at us, we are no nearer the premiership now as we were 20 years ago. Edited June 2, 2020 by Blue and white 6 Link to comment Share on other sites More sharing options...
matthefish2002 Posted June 2, 2020 Share Posted June 2, 2020 I dont hate clubs like Palace and Leicester I bet 90% of professional clubs have done things while financially not illegal but certainly questionable. What did annoy me about that match was all the talk was about Palaces financial problems with barely a mention to ours. We nearly went to the wall a few months after that game. I do think London clubs on average get a lot more media coverage then clubs in the North apart from a couple of the really big clubs. 2 Link to comment Share on other sites More sharing options...
lanzaroteowl Posted June 2, 2020 Share Posted June 2, 2020 Hate Palace. Not for administration but for that bloody song! 2 2 Link to comment Share on other sites More sharing options...
Miffed Posted June 2, 2020 Share Posted June 2, 2020 The game in isolation was still never a fair contest, yes they got deducted points but they still got to keep those players which they couldn’t afford which ultimately kept them up. Link to comment Share on other sites More sharing options...
HIGHERSTATE Posted June 2, 2020 Share Posted June 2, 2020 24 minutes ago, lanzaroteowl said: Hate Palace. Not for administration but for that bloody song! Haha my girlfriend used to sing it to annoy me. I still don't get why their fans thought it was a good idea to run on the pitch. 1 Link to comment Share on other sites More sharing options...
soldierboyblue Posted June 2, 2020 Share Posted June 2, 2020 9 hours ago, Blue and white said: We should have done when were 27m in debt and on the brink of going under, instead we lumbered on doing the RIGHT thing and now look at us, we are no nearer the premiership now as we were 20 years ago. Should have gone nowhere near administration - MM paid about 10p in the pound of what we owed but failed to invest in the team. However the local businesses that were owed money got paid out. If we had gone into administration the only creditor that would have got any meaningful payout would have been the Co-Op bank. Then look into the unpaid tax bills to HMRC. The club would have been dissolved end of Link to comment Share on other sites More sharing options...
Blue and white Posted June 2, 2020 Share Posted June 2, 2020 I'm talking about way before Milan came on the scene. Link to comment Share on other sites More sharing options...
soldierboyblue Posted June 3, 2020 Share Posted June 3, 2020 15 hours ago, Blue and white said: I'm talking about way before Milan came on the scene. What when you had about 15000 shareholders who would have needed to vote and agree on administration and a chairman and board who were still being paid large amounts of money from the club. Ok then Link to comment Share on other sites More sharing options...
Utah Owl Posted June 4, 2020 Share Posted June 4, 2020 (edited) On 01/06/2020 at 23:14, Owl.1867 said: https://www.theguardian.com/football/the-agony-and-the-ecstasy/2020/jun/01/crystal-palace-relegation-liquidation-10-years-ago Written by a Palace fan, looking back at their miraculous escape... We were absolutely rotten at this time and truly deserved to go down but I still have a special hatred for clubs such as Palace and Leicester who took the administration route before returning to spending beyond their means and now live it up off the back of that. Did we really do anything so different? We played the system and forced our creditors (especially the Co-Op) to take a massive haircut on the basis that the only other alternative was administration (which is a way of forcing creditors to take a massive haircut). Also, the original company has been ring fenced to protect against any possible action following on from the disaster so to all intents and purposes we are a completely different company. Then under DC we have been spending way beyond our means (as far as the rules are concerned). I really don't see such a significant difference in terms of the overall financial approach. Modern football is a thoroughly murky, dirty business and we are just the same as most other clubs out there, in it for ourselves, not the good of the game which is completely broken. It's sad, very sad. Edited June 4, 2020 by Utah Owl 2 Link to comment Share on other sites More sharing options...
markg Posted June 4, 2020 Share Posted June 4, 2020 1 minute ago, Utah Owl said: Did we really do anything so different? We played the system and forced our creditors (especially the Co-Op) to take a massive haircut on the basis that the only other alternative was administration (which is a way of forcing creditors to take a massive haircut). Also, the original company has been ring fenced to protect against any possible action following on from the disaster so to all intents and purposes we are a completely different company. Then under DC we have been spending way beyond our means (as far as the rules are concerned). I really don't see such a significant difference in terms of the overall financial approach. Not a popular post I bet but I agree with all of that. 1 Link to comment Share on other sites More sharing options...
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