A Seat On The Board For £90M At Palace.

[TIL 1010 4,285]

https://www.bbc.co.uk/sport/football/58169609

A stinking rich American invests £90 million to be spent on players and gets a seat on the board. No particular allegiance to Palace but had been looking in Europe to have a stake somewhere because of his passion for football.

I wonder if he gave us any thought ?

And we are off....................

Edited August 12, 2021 by TIL 1010

[cambridgeshire canary 5,817]

Why arent we Palace?

[Midlands Yellow 3,507]

4 minutes ago, TIL 1010 said:

https://www.bbc.co.uk/sport/football/58169609

A stinking rich American invests £90 million to be spent on players and gets a seat on the board. No particular allegiance to Palace but had been looking in Europe to have a stake somewhere because of his passion for football.

I wonder if he gave us any thought ?

And we are off....................

These people do not and will not show interest in Norwich City. Michael and Delia would whole heartedly welcome more outside investment in the club but alas it’s not to be. 

[TIL 1010 4,285]

4 minutes ago, cambridgeshire canary said:

Why arent we Palace?

Start a thread about it.

[horsefly 4,054]

17 minutes ago, TIL 1010 said:

https://www.bbc.co.uk/sport/football/58169609

A stinking rich American invests £90 million to be spent on players and gets a seat on the board. No particular allegiance to Palace but had been looking in Europe to have a stake somewhere because of his passion for football.

I wonder if he gave us any thought ?

And we are off....................

And the bit you left out:

"Textor, the founder of Facebank, said: "I have looked at many opportunities across European football in which to invest so I could follow my passion for football and have a meaningful stake in a club."

No mention of just what he thinks that "meaningful stake" amounts to, or what he expects in return for it.

And may I add that I'm suspicious of anyone who claims a passion for football in general where that doesn't arise from passion for a particular club as its genesis. 

Edited August 12, 2021 by horsefly

[Thirsty Lizard 2,777]

31 minutes ago, TIL 1010 said:

https://www.bbc.co.uk/sport/football/58169609

A stinking rich American invests £90 million to be spent on players and gets a seat on the board. No particular allegiance to Palace but had been looking in Europe to have a stake somewhere because of his passion for football.

I wonder if he gave us any thought ?

And we are off....................

Hey - I've never heard of Nor - which. Is that in England, London?

Edited August 12, 2021 by Thirsty Lizard

[Midlands Yellow 3,507]

To save time NCFC asked Leonardo to pass on the thoughts of the owners. 
 

[A Load of Squit 4,641]

It's missleading to say the  £90m is to buy players, he's bought a stake in the club, that will take a sizeable chunk of the investment. Looks like he turned to Palace as Benfica turned him away.

When the other two Americans invested the money was meant to be spent on the ground, when you go there this season don't spend too long trying to find where it's gone. 

Edited August 12, 2021 by A Load of Squit

[Parma Ham's gone mouldy 1,969]

41 minutes ago, TIL 1010 said:

https://www.bbc.co.uk/sport/football/58169609

A stinking rich American invests £90 million to be spent on players and gets a seat on the board. No particular allegiance to Palace but had been looking in Europe to have a stake somewhere because of his passion for football.

I wonder if he gave us any thought ?

And we are off....................

It is not unreasonable context @TIL 1010

Parma 

[Mello Yello 2,139]

Carra Board closed shop......

[Christoph Stiepermann 1,056]

I know it's petty but this is why I dislike the small London clubs like Palace, Watford, QPR, Fulham etc. They get investment and are considered attractive clubs due to their proximity to London. It's not really earned on a sporting level, it's just trendy to invest in clubs like that and you can attract players who would want to live in London. 

I think we have a similar problem to Newcastle, Middlesbrough  and Sunderland in that we're all fantastic clubs, but our remote location makes us really unfashionable not just to potential investment but also when trying to attract players. 

[Badger 2,326]

5 hours ago, TIL 1010 said:

https://www.bbc.co.uk/sport/football/58169609

A stinking rich American invests £90 million to be spent on players and gets a seat on the board. No particular allegiance to Palace but had been looking in Europe to have a stake somewhere because of his passion for football.

I wonder if he gave us any thought ?

And we are off....................

What you said is not true according to a lot of sources.

1. About to thirds of the investments being used to clear some of the other debt that Palace have built up. Some will go on the academy with a small proportion on player transfers.

2. Steve Parish's share of the club is said to be undiluted, which suggests that no new equity was issued.  Obviously we won't know until the accounts are  published, but it is likely that you bought some shares from existing shareholders and gave a director's loan to the club. We won't know what rate of interest (if any) until accounts are published.

3. A lot of this is "spin:" Palace proclaimed a  £50 million investment about 5 years ago, but 40 million pounds of this turned out to be a loan. 

4. To be fair on the Palace shareholders, the loans seem to have been at very low, or no interest, which is unusual. The Pozzos charge over 5% on the £80 million that they have lent to Watford. 

Edited August 12, 2021 by Badger
Added sentence

[Hank shoots Skyler 2,055]

1 hour ago, Christoph Stiepermann said:

I know it's petty but this is why I dislike the small London clubs like Palace, Watford, QPR, Fulham etc. They get investment and are considered attractive clubs due to their proximity to London. It's not really earned on a sporting level, it's just trendy to invest in clubs like that and you can attract players who would want to live in London. 

I think we have a similar problem to Newcastle, Middlesbrough  and Sunderland in that we're all fantastic clubs, but our remote location makes us really unfashionable not just to potential investment but also when trying to attract players. 

Yes you’re right, but by the same token a club like ours out in the sticks means when a player does settle they get far more attached to the club and surrounding area. 

We may not always have the biggest pull for players looking to join, but when they do I believe we are more likely to keep hold of them and it’s part of the reason why we’ve seen plenty of top top players stay with us after a relegation in recent seasons.

I wonder how many of those players would’ve stuck around if there was an offer on the table for better money in a better league and it was only 30 miles up the road??

[Mr Angry 1,366]

2 hours ago, Christoph Stiepermann said:

I know it's petty but this is why I dislike the small London clubs like Palace, Watford, QPR, Fulham etc. They get investment and are considered attractive clubs due to their proximity to London. It's not really earned on a sporting level, it's just trendy to invest in clubs like that and you can attract players who would want to live in London. 

I think we have a similar problem to Newcastle, Middlesbrough  and Sunderland in that we're all fantastic clubs, but our remote location makes us really unfashionable not just to potential investment but also when trying to attract players. 

Watford isn’t in London, and Watford players don’t live in London.

[Badger 2,326]

7 minutes ago, Mr Angry said:

Watford isn’t in London, and Watford players don’t live in London.

Watford to Islington is 14 miles (I'm assuming that as they are all BLM marxists that they will want to live with other trendy lefties - so other thread ).

[Graham Paddons Beard 2,171]

5 hours ago, TIL 1010 said:

https://www.bbc.co.uk/sport/football/58169609

A stinking rich American invests £90 million to be spent on players and gets a seat on the board. No particular allegiance to Palace but had been looking in Europe to have a stake somewhere because of his passion for football.

I wonder if he gave us any thought ?

And we are off....................

Someone will be along to talk about interest rates shortly …

Edited August 12, 2021 by Graham Paddons Beard

[Badger 2,326]

3 minutes ago, Graham Paddons Beard said:

Someone will be along to talk about interest rates shortly …

Too late, I already have! (+ debt) 

[Bethnal Yellow and Green 1,557]

Interesting piece on the Athletic about this investment today.

Seems the £90m has already been largely spent on the players they have signed and paying off shareholder debts (ie giving money to three other owners). The remainder will be used towards infrastructure improvements that Palace were in the process of building. 

The new American owner, one of 4 joint owners now at Palace, was drawn to the club due to its location in South London as he has an interest in youth development (he owns an academy in America which recently sold a player to Palace also). 

There is a little nugget that for any decisions to be made, all 4 joint owners must agree. That sounds like a great recipe for inaction to me. 

[chicken 2,485]

17 hours ago, Christoph Stiepermann said:

I know it's petty but this is why I dislike the small London clubs like Palace, Watford, QPR, Fulham etc. They get investment and are considered attractive clubs due to their proximity to London. It's not really earned on a sporting level, it's just trendy to invest in clubs like that and you can attract players who would want to live in London. 

I think we have a similar problem to Newcastle, Middlesbrough  and Sunderland in that we're all fantastic clubs, but our remote location makes us really unfashionable not just to potential investment but also when trying to attract players. 

Watford isn't in London... just saying. 

[king canary 6,849]

17 hours ago, Christoph Stiepermann said:

I know it's petty but this is why I dislike the small London clubs like Palace, Watford, QPR, Fulham etc. They get investment and are considered attractive clubs due to their proximity to London. It's not really earned on a sporting level, it's just trendy to invest in clubs like that and you can attract players who would want to live in London. 

I think we have a similar problem to Newcastle, Middlesbrough  and Sunderland in that we're all fantastic clubs, but our remote location makes us really unfashionable not just to potential investment but also when trying to attract players. 

Thing is very few clubs 'earn' their investment on a sporting level, its always where a random billionairre chooses to stick their money. 

 

[chicken 2,485]

It is also to do with London and the available market.

Folks will argue, yeah, but London is saturated with football clubs. The same argument could be made of mobile phone shops - there are still plenty of them because they fight over the same customers. That's how a market works.

With clubs like us, our market is likely to pretty steady. As in, if you live within Norfolk and are from Norfolk you are likely to support Norwich City if you like football. Yes, there are those in disputed territories like Bungay and Lowestoft etc as well, but generally, that's it, as well as a few souls who have been displaced to other parts of the country.

But in terms of the easy market on the doorstep. If you invest, it's usually to grow your investments value. To grow the value of a football club you are looking at staying in the premier league, appealing to as many local fans as possible to drastically push gates up, building a greater support from people further away, both in the UK and internationally.

The latter is far, far harder than drawing in more people locally. Especially if you have millions of people within easy commute. AND London is already an internationally recognised city in terms of household names etc.

Just puts your investment in a slightly more secure position.

[glory.win or die. 267]

21 hours ago, horsefly said:

And the bit you left out:

"Textor, the founder of Facebank, said: "I have looked at many opportunities across European football in which to invest so I could follow my passion for football and have a meaningful stake in a club."

No mention of just what he thinks that "meaningful stake" amounts to, or what he expects in return for it.

And may I add that I'm suspicious of anyone who claims a passion for football in general where that doesn't arise from passion for a particular club as its genesis. 

Is that the same scouring of Europe we did when we found Neil Adams was best choice as our manager 

[hogesar 8,585]

This has got all the hallmarks of a "Why aren't we Sheffield United" thread from a couple seasons ago.

[horsefly 4,054]

25 minutes ago, glory.win or die. said:

Is that the same scouring of Europe we did when we found Neil Adams was best choice as our manager 

Feel free to explain what your trying to say here? For the life of me I don't understand what this has to do with the points I made about Palace's new investor.

[Monty13 1,842]

23 hours ago, horsefly said:

And the bit you left out:

"Textor, the founder of Facebank, said: "I have looked at many opportunities across European football in which to invest so I could follow my passion for football and have a meaningful stake in a club."

No mention of just what he thinks that "meaningful stake" amounts to, or what he expects in return for it.

And may I add that I'm suspicious of anyone who claims a passion for football in general where that doesn't arise from passion for a particular club as its genesis. 

It’s an American thing. When your local team can just up and move 3000 miles to the other side of the country it changes mindset of fans.

Its why college sport has such a rampant following. 

[Badger 2,326]

2 hours ago, Bethnal Yellow and Green said:

Interesting piece on the Athletic about this investment today.

Seems the £90m has already been largely spent on the players they have signed and paying off shareholder debts (ie giving money to three other owners). The remainder will be used towards infrastructure improvements that Palace were in the process of building. 

The new American owner, one of 4 joint owners now at Palace, was drawn to the club due to its location in South London as he has an interest in youth development (he owns an academy in America which recently sold a player to Palace also). 

There is a little nugget that for any decisions to be made, all 4 joint owners must agree. That sounds like a great recipe for inaction to me. 

The Telegraph reports it similarly but with slight differences:

1. They report that £57.5 million will be used to pay off debt - a very precise amount! As you say, the Athletic suggests that it will be used to "pay off shareholder debts." So it rather sounds that rather than being new money, his investment is paying off previous investments. The 2016 investment turned out to be £10 million in equity and a £40 million loan - which I suspect is a large part of what he has paid back.

2. The Telegraph also reports the decision making process slightly differently - "The four will continue the general partnership model that gives them all equal voting rights."

https://www.telegraph.co.uk/football/2021/08/11/crystal-palace-have-new-principal-shareholder-funds-set-reduce/

3. The Independent says that "A substantial minority investment has been made by Textor, but Parish’s share of the club is not set to change from the 18 per cent he originally held when Harris and Blitzer completed their investment in the club back in 2015, the PA understands." If this is the case, I don't see how it can be new equity as this would dilute Parish's share, so again it suggests that he has bought shares from other shareholders, which again would mean that it is not new money.

https://www.independent.co.uk/sport/football/crystal-palace-american-john-benfica-london-b1900890.html

There were stories that Harris and Blitzer wanted out, so it will b helpful to Palace if they have got some of their money back but of course, we don't know any of the detail yet. Certainly, it is highly unlikely that most of this is new money.

[Bakerkd 2]

22 hours ago, Thirsty Lizard said:

Hey - I've never heard of Nor - which. Is that in England, London?

Well it is a superfluous “W”. Try getting an American to pronounce Worcestershire.
 

Kind of similar to how English pronounce Michigan as Mich-Igan instead of Mish-igan or Orrygon instead of Ore-agon

Separated by a common language.

[Thirsty Lizard 2,777]

54 minutes ago, Bakerkd said:

Well it is a superfluous “W”. Try getting an American to pronounce Worcestershire.
 

Kind of similar to how English pronounce Michigan as Mich-Igan instead of Mish-igan or Orrygon instead of Ore-agon

Separated by a common language.

Sure of course. The point I was trying to make was that taking a stake in a club in London is probably a lot more appealing to most Americans than taking a stake in out of the way Norwich. 

[Bakerkd 2]

Swansea, Plymouth, Wycombe just off the top of my head are American owned non-London teams. Even the Binners have American investment.

London is certainly appealing but there are many more American owners of non-London sides then I think most people realize.