TheBigToePunt
Member
- Country
England
I'm sure you're right. It's funny, though, as there was a report (maybe a press release) that the club had agreed £125m funding with Goldman Sachs....
Dunno what happened there, then.
Main Stand redevelopment thread
- Topic starter Penge Eagle
- Start date
Dunno what happened there, then.
waterfordpal
Member
- Country
Ireland
If Wharton can start scoring they’ll get their 125m when they sell him. See it sell it sorted.
That is not unusual these days. Average now is between £70 to £80k for a simple Dorma loft conversion, including an en-suite. Pricing and take off is what I do and I can tell you the cost of labour and materials now is so high it is putting people off. Trouble is there is no correction coming anytime soon. Just had notifications that all costs are going up again because of fuel costs.
No uncertainty at all. H and B have no desire to buy a toxic club like Man City.
Its mental. One of my mates is a sparky, and was on 200 a day pre covid. Covid spiked that to 500.
He now wont work for less than 500. So will happily work 1 day a week at 500, and then just doss the rest of the week. (madness to me that he wont pick up another 4 days on a lower wage)
TheBigToePunt
Member
- Country
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England
There are two reasons a person pays to build an extension to a house. Either it's because it's their home and they want to make it as nice as it can be, or because the property is a strict business investment and adding the extension makes the house more valuable overall.
Like many, I have previously questioned why the Americans (particularly Woody Johnson, who is not only the largest shareholder but also mega rich) don't pay for the new stand.
Well, none of them would pretend that Palace is their home. It's an investment. That suggests that building the stand will not increase the value of the club by more than the cost of the project. Otherwise they would have done it, no?
Like many, I have previously questioned why the Americans (particularly Woody Johnson, who is not only the largest shareholder but also mega rich) don't pay for the new stand.
Well, none of them would pretend that Palace is their home. It's an investment. That suggests that building the stand will not increase the value of the club by more than the cost of the project. Otherwise they would have done it, no?
chris123
Member
- Location
- hove actually
- Country
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England
They need to issue new shares first
NEILLO
Member
- Location
- Shoreham-by-Sea
- Country
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England
Well, I think Josh Harris is more focussed on this ;
New Stadium | Washington Commanders - Commanders.com
The official source for information on our journey to find a new stadium
www.commanders.com
That entite stadium will probably be completed before our Main Stand !
Its v reasonable logic.
I guess the issue they have with us vs the Commanders new stadium, is that one bad season and the value of their holding will plummet.
Where as there is no jeopardy with Commanders having bad season. And could actually work out better with daft picks etc
doombear
Member
- Location
- Too far from Selhurst Park
- Country
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England
I imagine they've had a few of those rather like us buying a few duds over the years.
You're absolutely right re the jeopardy and in any event Harris will want to be seen prioritising his American interests over his British ones.
TheBigToePunt
Member
- Country
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England
That's got to be uppermost in their minds. American business people have previously expressed amazement at the prospect of relegation, as it so undermines the incentive to invest.
I have previously discussed at length with others on here that we simply do not need the new stand unless we are in the premier league. Anyone can see as much. The Americans plainly can. Hence it's such a risky project altogether, whether for an external investor or the club itself. The stand will take two or three years to build. Then another, what, ten years to pay for itself, presuming all the extra income only goes on paying off the debt?
What are the chances of Palace not going down in that time?
Whatever the odds are, I'll tell you something: They get worse if you funnel money away from the playing staff to the new stand project. If the Americans are not footing the bill and the club doesn't want to lumber itself with too much debt in the form of a loan, then it will have to make up the shortfall from its own coffers, which means selling or not buying good players. Sounds like that is what Parish has been explaining.
As much as expanding Selhurst is all the club can do to try and grow, and as much as sanding still is (possibly) the same as going backwards, none of that changes the risks of proceeding, or the balancing act between funding the stand and maintaining a team good enough to justify expanding Selhurst.
Finally, we are not talking about a project with huge potential rewards to weigh against the risks. The increase to our playing budget would absolutely not take us into some new stratosphere where we get in the Champions League all the time and make the money back that way.
It seems like a high risk / medium to low reward project that the club is nevertheless compelled to pursue.
No wonder it keeps stalling.
TheBigToePunt
Member
- Country
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England
Parish must have thought about selling Olise, Eze, Guehi, Wharton etc, and putting all the profits into the stand and none back into the squad. There might be uproar, but (firstly) we've got by with a minimal budget before, for years under Hodgson in particular, (secondly) a lot of the profit was wasted on Johnson (now McNeill) and Larsen, and you never know what you're getting when you buy high anyway, and (thirdly) it would mean that even if the team went down the club could complete the stand anyway and would never have any debt on it. Relegation wouldn't be quite the same financial-game changer for the finances of the stand.
Of course, we might never get back up again, much less stay there, and so the stand might end up a massive white elephant, but still...
Eaglecoops
Member
- Location
- CR3
- Country
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England
Oh yes, you’ve seen some of our recent transfers I see.
London
ASCPFC
Member
- Location
- Pro-Cathedral/caravan park
- Country
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Ireland
I work it out at something like 30 years before the stand starts paying for itself. Even going much higher on estimated income maybe 20 odd years. Just roughly working out that you could possibly get a few hundred grand extra income per home game. But obviously there will also be extra costs and interest on the loan too.
Another side of it is something is going to have to be done to the ground sooner or later. So there are going to be costs at some stage.
Another side of it is something is going to have to be done to the ground sooner or later. So there are going to be costs at some stage.
Eaglecoops
Member
- Location
- CR3
- Country
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England
Our ability to generate a higher income also affects how much we can spend on players, albeit probably not by a massive amount.
martin2412
Member
- Location
- Living The Dream
- Country
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England
This all just excuses. Why are we more likely to get relegated than Leeds, Bournemouth, Everton or Fulham ? All of whom have either recently completed or are about to embark on upgrading their grounds.
They all done it. Our owners just appear to be a bunch of old women who won't grasp the nettle.
TheBigToePunt
Member
- Country
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England
You might be right. I suggest you write to Mr W Johnson of selhurst park, SE256PU and tell him!
Norbury Old Git
Member
- Location
- London
- Country
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England
There will be an extra 8400 seats in a stand providing first class facilities. Many football fans will be quite happy to pay premium prices to watch Premier League matches especially if the opposition are Liverpool, ManU, Arsenal etc. Foreign tourists pay £100 plus to watch shows in London and if they are football fans they will be happy to pay that for a one off EPL experience. Add to that the increase that the Club will ask the existing 5000 ticket holders to pay and we are looking up to at least £700,000 and upwards. Over time inflation will mean annual increases as well.
The old tin box with wooden floors that i used to pay 6d (2.5p) to get into to get out of the rain will be gone and about time too.
dreamwaverider
Member
- Location
- London
- Country
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England
Looks like a fair bit of uncertainty surrounding our ground development. In the current climate, I fully get the go slow on this.