Palace accounts for 2024 are out

[NMPalace]

Accounts for the close of last season have now been published on companies house (CPFC 2010).

Have to say they are quite confusing with loans from parent companies etc, however, headlines are:

Income/revenue up to £190m (from £180m) - but total loss increased to £32m (from £27m loss in 2023).

Within the costs there is a £14.6m interest charge, which is almost double the previous year.

One of the loans is a £27m bank loan charging 11% interest which seems very high.

It also appears the parent company (so the directors) put in an additional £38m during the year.

 

[Badger11]

According to the BBS the accounts don't include player sales which are in this years accounts. Anyway the nerds over there seemed quite happy with them.

 

[BromleyMonkey]

According to the BBS the accounts don't include player sales which are in this years accounts. Anyway the nerds over there seemed quite happy with them.,

Yes I’m afraid the accounts don’t interest me in the slightest, I just go to watch the football

 

[NMPalace]

Yes I’m afraid the accounts don’t interest me in the slightest, I just go to watch the football

for a club that's been in administration twice that seems a bit short sighted.

Despite record revenues and a better balance on player wages (c55% of revenue) we have lost c £60m over the last 2 years. Luckily a few of our owners have very deep pockets but we've seen what happens to other clubs when the tap gets turned off.

I saw a recent interview with Harris regarding sports investments and he said he expects a 10% annual return. He is not in it for the long term and will try and sell up and realise a profit at a time that suits him.

 

[BromleyMonkey]

for a club that's been in administration twice that seems a bit short sighted.

Despite record revenues and a better balance on player wages (c55% of revenue) we have lost c £60m over the last 2 years. Luckily a few of our owners have very deep pockets but we've seen what happens to other clubs when the tap gets turned off.

I saw a recent interview with Harris regarding sports investments and he said he expects a 10% annual return. He is not in it for the long term and will try and sell up and realise a profit at a time that suits him.

What can I tell you? I’m a football fan who goes to watch the football, I have no say what goes on with the finances etc, so it doesn’t interest me. Other people are paid to worry about that.

As for administration, I certainly didn’t lose any sleep over it, in fact as a night worker at the time I WAS asleep when some were marching on Lloyd’s that day🤣

 

[ASCPFC]

What can I tell you? I’m a football fan who goes to watch the football, I have no say what goes on with the finances etc, so it doesn’t interest me. Other people are paid to worry about that.

As for administration, I certainly didn’t lose any sleep over it, in fact as a night worker at the time I WAS asleep when some were marching on Lloyd’s that day🤣

Being abroad at the time, administration made me join the forums to keep up with what was happening.

 

[Badger11]

Apparently Olise and Andersen sales are not included which is another £75m for this years accounts.

 

[Plumpton eagle]

Being abroad at the time, administration made me join the forums to keep up with what was happening.

That's what got me into the fans forum. I think it was Ray Bateup who ran CPFRIS at the time. A very useful service and I believe he has since passed away.

 

[PalazioVecchio]

Yes I’m afraid the accounts don’t interest me in the slightest, I just go to watch the football

while i would agree with you. Sadly today football is all about money. I personally prefer the GAA in ireland, its all amateur. The fellas playing at the top stage on a Saturday are all teachers, cops & taxi drivers during the week.

money corrupts , look at Sepp Blatter and bemoan the tragedy.

 

[iheartcpfc]

for a club that's been in administration twice that seems a bit short sighted.

Despite record revenues and a better balance on player wages (c55% of revenue) we have lost c £60m over the last 2 years. Luckily a few of our owners have very deep pockets but we've seen what happens to other clubs when the tap gets turned off.

I saw a recent interview with Harris regarding sports investments and he said he expects a 10% annual return. He is not in it for the long term and will try and sell up and realise a profit at a time that suits him.

I think our non mental yanks are very much not here for the money and this is a bit of fun for them. They're still emotionally invested and come over for games

 

[BromleyMonkey]

while i would agree with you. Sadly today football is all about money . I personally prefer the GAA in ireland, its all amateur. The fellas playing at the top stage on a Saturday are all teachers, cops & taxi drivers during the week.

money corrupts , look at Sepp Blatter and bemoan the tragedy.

It’s true I know, but I still try to see it as 11 v 11 on the pitch no matter how much money one club might have more than the other.
Well unless Antony Taylor is ref 🤣

 

[Jim_Cannon]

Accounts for the close of last season have now been published on companies house (CPFC 2010).

Have to say they are quite confusing with loans from parent companies etc, however, headlines are:

Income/revenue up to £190m (from £180m) - but total loss increased to £32m (from £27m loss in 2023).

Within the costs there is a £14.6m interest charge, which is almost double the previous year.

One of the loans is a £27m bank loan charging 11% interest which seems very high.

It also appears the parent company (so the directors) put in an additional £38m during the year.

Thanks for the summary. Maybe the bank loan was very short term, hence the rate. Overall looks solid for a football team with increase in revenue and whilst losses not unsustainable in a football club sense

 

[grumpymort]

Not worth paying much attention to these books.

They don't tell the full story.

Loans can be for varies reasons most times you need to do these to sign players because when you sell you don't get money straight away.

Some people mentioned the sale of Olise & Andersen that wasn't much money at all when you look at what we spent.

Out

Olise - 55m
Andersen 25m
Ayew - 5m
Johnstone - 10m

In

Nketia - 30m
Lacroix - 20m
Sarr - 15m
Riad 15m
Esse - 14m

Those are this season last season we sold no one but paid

Wharton - 22m
Franca - 26m
Henderson - 18m
Munoz - 8m
Holding - 2m

None of these prices include addons

 

[doombear]

Thanks for the summary. Maybe the bank loan was very short term, hence the rate. Overall looks solid for a football team with increase in revenue and whilst losses not unsustainable in a football club sense

Wasn't a loan taken out to provide liquidity for our Summer buying and then repaid after we sold Olise and Andersen?

 

[Stirlingsays]

while i would agree with you. Sadly today football is all about money. I personally prefer the GAA in ireland, its all amateur. The fellas playing at the top stage on a Saturday are all teachers, cops & taxi drivers during the week.

money corrupts , look at Sepp Blatter and bemoan the tragedy.

Yeah but with all the kicking of it they have to change the potato at half time.

 

[Stirlingsays]

Not worth paying much attention to these books.

They don't tell the full story.

Loans can be for varies reasons most times you need to do these to sign players because when you sell you don't get money straight away.

Some people mentioned the sale of Olise & Andersen that wasn't much money at all when you look at what we spent.

Out

Olise - 55m
Andersen 25m
Ayew - 5m
Johnstone - 10m

In

Nketia - 30m
Lacroix - 20m
Sarr - 15m
Riad 15m
Esse - 14m

Those are this season last season we sold no one but paid

Wharton - 22m
Franca - 26m
Henderson - 18m
Munoz - 8m
Holding - 2m

None of these prices include addons

That would turn me grumpy let alone you.

Running a football club has to be a passion project for the very rich......otherwise it doesn't work.

 

[StandbyPalace]

We are so blessed to have Steve Parish and co running the club. Revenue has increased massively fot a medium sized club/capacity, the club is run on a sustainable footing, the book value of our 1st team squad has never been higher. All the above has led to the most successful period in the club's history.
Lots to be pleased about and grateful for, onwards and upwards COYP lets bag a major trophy and or European qualification, we deserve it!

 

[StandbyPalace]

Not worth paying much attention to these books.

They don't tell the full story.

Loans can be for varies reasons most times you need to do these to sign players because when you sell you don't get money straight away.

Some people mentioned the sale of Olise & Andersen that wasn't much money at all when you look at what we spent.

Out

Olise - 55m
Andersen 25m
Ayew - 5m
Johnstone - 10m

In

Nketia - 30m
Lacroix - 20m
Sarr - 15m
Riad 15m
Esse - 14m

Those are this season last season we sold no one but paid

Wharton - 22m
Franca - 26m
Henderson - 18m
Munoz - 8m
Holding - 2m

None of these prices include addons

These figures demonstrate that Palace are no longer are a "selling club"

 

[grumpymort]

These figures demonstrate that Palace are no longer are a "selling club"

It shows we are a club that lets a lot of people go when contracts expire so we get 0 for them.

 

[MrRobbo]

It shows we are a club that lets a lot of people go when contracts expire so we get 0 for them.

Hopefully not any more! Anderson sales was exactly how we need to play this game.

But God only knows what we are going to do with Edouard.