Main Stand redevelopment thread

[rikz]

Thing is, they haven't put their hands in their pockets for the stand (the club is paying for it and has taken out a loan).

They might as well be skint if they aren't going to spend any of their money on infrastructure projects at Palace which, unlike player transfers and wages, they are allowed to spend freely on under FFP.

I do take your point that, should we be relegated, you'd hope having rich owners would provide some protection against the pain of the far lower income and attendances, but how would that work? I mean, they could pay off the loan I suppose, but if they were minded to do that then surely they'd have paid for the stand already?

Im not sure what the deal with the stand is, we were just told 100 million was ring-fenced when they bought into the club, the cost has now risen to 200 million but in that time their net worth has more than doubled, so I don't see it being a problem for them financially, or a shock, thats just common sense.

If you got a quote for a house extension 10 years ago you didnt have done, you wouldn't expect the same price now.

We have no financial worries as a club, you have one poster who thinks 3 men with a combined net worth of 18 billion, wont be able to find 200 million pound because all their money is in assets. Its just completely baffling to me, its in assests because they probably get about 15% return a year, you would have to be an idiot to have it in money instead.

Then you have another poster worried about the playing squad, firstly its completely separate and secondly, we're usually about 25th on a list of the world's richest clubs ain't we ? Im not being funny, if we cant create a squad competitive enough with the budget we have then it is what it is and we just havent been good enough.

 

[TheBigToePunt]

Im not sure what the deal with the stand is, we were just told 100 million was ring-fenced when they bought into the club, the cost has now risen to 200 million but in that time their net worth has more than doubled, so I don't see it being a problem for them financially, or a shock, thats just common sense.

If you got a quote for a house extension 10 years ago you didnt have done, you wouldn't expect the same price now.

We have no financial worries as a club, you have one poster who thinks 3 men with a combined net worth of 18 billion, wont be able to find 200 million pound because all their money is in assets. Its just completely baffling to me, its in assests because they probably get about 15% return a year, you would have to be an idiot to have it in money instead.

Then you have another poster worried about the playing squad, firstly its completely separate and secondly, we're usually about 25th on a list of the world's richest clubs ain't we ? Im not being funny, if we cant create a squad competitive enough with the budget we have then it is what it is and we just havent been good enough.

The club has borrowed £125m from Goldman Sachs to cover the costs of the stand. Where the other £75m or so is coming from I don't know, but it's clear the owners are not paying for the stand, however easily they might be able to afford it.

England: Multi-million loan clears the way for Selhurst Park project to begin in January

stadiumdb.com

The club will be paying back this loan for however long after the stand finishes. On one hand I'm sure we could say the stand finances are ring fenced if, for instance, it's the extra income from the new stand being used to pay back the loan. That would mean the budget for the team would remain the same.

Of course, on the other hand, as soon as the stand is open and making money we could use that money for the team if we didn't have this loan to pay back. If the owners had paid for the stand, the team would be better off. They haven't, though.

Hence my concern that it doesn't matter how rich the owners are if they aren't putting their money in.

 

[cyprussteve]

Does anyone know if they will build around the main stand or just knock it down. Have season ticket holders when if it's bring demolished and will they be given alternative seats

 

[ACL.Soccer]

Does anyone know if they will build around the main stand or just knock it down. Have season ticket holders when if it's bring demolished and will they be given alternative seats

Building around the existing Main Stand - will demolish in the closed season

 

[TheBigToePunt]

Building around the existing Main Stand - will demolish in the closed season

Thats the idea. Or at least, it was when this video was created...

 

[chris123]

Thing is, they haven't put their hands in their pockets for the stand (the club is paying for it and has taken out a loan).

They might as well be skint if they aren't going to spend any of their money on infrastructure projects at Palace which, unlike player transfers and wages, they are allowed to spend freely on under FFP.

I do take your point that, should we be relegated, you'd hope having rich owners would provide some protection against the pain of the far lower income and attendances, but how would that work? I mean, they could pay off the loan I suppose, but if they were minded to do that then surely they'd have paid for the stand already?

The main vehicle for introducing money is via a realise of new shares into the company. I think writing off loans is a thing of the past.

 

[rikz]

The club has borrowed £125m from Goldman Sachs to cover the costs of the stand. Where the other £75m or so is coming from I don't know, but it's clear the owners are not paying for the stand, however easily they might be able to afford it.

England: Multi-million loan clears the way for Selhurst Park project to begin in January

stadiumdb.com

The club will be paying back this loan for however long after the stand finishes. On one hand I'm sure we could say the stand finances are ring fenced if, for instance, it's the extra income from the new stand being used to pay back the loan. That would mean the budget for the team would remain the same.

Of course, on the other hand, as soon as the stand is open and making money we could use that money for the team if we didn't have this loan to pay back. If the owners had paid for the stand, the team would be better off. They haven't, though.

Hence my concern that it doesn't matter how rich the owners are if they aren't putting their money in.

It will be against their assets, if we're relegated, do you think we would generate enough money to pay it off ? no they would end up paying the bill. Also clubs love running in debt so there's probably tax benefits. Getting £200 million and buying a new stand outright probably doesn't make much buisness sense. They will already have that money tied up in shares that will have a better return than the interest we're paying on the loan.

Are utd not a billion pound in debt or something, we all know they're not skint and can buy whoever they want.

But im sure they'll be more than happy if we remain in the prem and the club pays for the stand itself.

 

[Part Time James]

Seems like a lot of money until you realise it's the same as signing three players of a similar standard to Brennan Johnson

 

[Mark B]

So much moaning... Who cares if we changed our nickname? The Glaziers sounds dated and red & blue are far better and unique (in this country) than claret and blue.

Lads, we're finally getting a new stand, things are happening, every time I go down to the ground (which is at least once a week) something new has happened. I'm on the waiting list for the new stand, exciting stuff!

I would like to nominate "Marinakis is Wanker" as the new nickname if we have to have a new one.

If the new stand sells out (which I think it will), I think the next stand replacement is going to come drastically faster then the Main Stand did. The new fiscal environment makes the stadium essential to a clubs success.

 

[Painter]

The club has borrowed £125m from Goldman Sachs to cover the costs of the stand. Where the other £75m or so is coming from I don't know, but it's clear the owners are not paying for the stand, however easily they might be able to afford it.

England: Multi-million loan clears the way for Selhurst Park project to begin in January

stadiumdb.com

The club will be paying back this loan for however long after the stand finishes. On one hand I'm sure we could say the stand finances are ring fenced if, for instance, it's the extra income from the new stand being used to pay back the loan. That would mean the budget for the team would remain the same.

Of course, on the other hand, as soon as the stand is open and making money we could use that money for the team if we didn't have this loan to pay back. If the owners had paid for the stand, the team would be better off. They haven't, though.

Hence my concern that it doesn't matter how rich the owners are if they aren't putting their money in.

Billionaires never use their own money. Loan taken out against the club, so the debt isn't theirs. They reap the benefits of increased value of the club.

 

[grumpymort]

Yeah, they could certainly afford it but what would they want in return? What level of shareholding/voting rights would they be looking for? How much control would SP be willing to relinquish?

SP has very little control not sure why people think he has a big stake he never has.

He is in the position he currently is in because those others have allowed it at any stage they can vote him out if they choose to do so.

If any of the parties wanted to they could buy more the only one which was ever blocked form doing so was Tex which is why he wanted out he was told before coming in you buy this much and later the rest it was another lie from SP.

Not always true, especially in sport. Why do teams compete in Formula 1 ? Do I think our American owners are in it for the love of the game, no, but as investors they seem okay and are generally happy leaving it all to Parish to worry about. As many issues as we've had developing the new stand ive never heard money being one, obviously they're not stupid and will look at the most cost efficient way of building it.

Formula 1 generates those people a lot of money the teams may claim they dont make much but that is because that side of the owners business they do not but in other areas they own they gain massively from it and it helps build the global brand as well.

You are giving way too much credit too people as i said before it makes 0 sense to spend 200mil on a stand which should have been built what 6-8 year ago compared to have just paying 600mil for a new stadium which would be generating triple the revenue (This is why other clubs did it)

I really want harris/blitz out of this club SP was desperate which is why he got them to come in knowing they had 0 interest in putting cash in well its time for them to go it's holding the club back and they will make big profit anyway I remember they paid like 60mil for the shares they have they are worth double if not more now.

 

[Hrolf The Ganger]

I would like to nominate "Marinakis is Wanker" as the new nickname if we have to have a new one.

If the new stand sells out (which I think it will), I think the next stand replacement is going to come drastically faster then the Main Stand did. The new fiscal environment makes the stadium essential to a clubs success.

Each stand presents its own problems, but the cost should be a lot lower.