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A little more info.

Pro USA & Israel

You do understand that under fair play rules, we can't just spend unlimited money.

The club is trying to increase its revenue in order to compete with mid table clubs.

It took me ages to work out if it was the Redskins. One has just to think a few hundred million would do us.

Red and Blue Army!

It actually seems a little more complex that that. Josh Harris' ownership of Palace needs a little unraveling in my opinion.

His primary vehicle for his sports ownership interests is HBSE (Harris Blitzer Sports Entertainment). The Philadephia 76'ers, New Jersey Devils, the Prudential Center, and various other sports-related interests are housed within that company. But not Palace. So we gain no benefit at all from the wealth and diverse interests of said vehicle.

He also has a traditional private equity firm - 26North Partners LP - which invests in standard assets (credit, insurance, etc.) This was launched last year and is a serious player in its market.

Palace seems to be isolated; the shares owned by Harris and Blitzer as individuals, rather than as part of their larger and more influential investment vehicles which have the attendant wealth of Harris' other investors behind them. Put another way, if the Philadephia 76ers want to sign a player (or whatever), the money comes from the sums available within/raised by HBSE (which, as has been pointed out, might include amounts other from investors like Magic Johnson). In contrast, if Palace wants to buy a player or build a stand, Harris and Blitzer seemingly have to dip into their own pockets.

Beyond that, our ownership structure is somewhat arcane.

The football club is housed within one company - CPFC Limited. Selhurst Park is housed within a second company (which doesn't actively trade, but owns the ground) - CPFC Selhurst Park Limited. CPFC Ltd. runs the club's day-to-day operations (what you think of as "Palace", but ownership/funding appears to be channeled through a third (holding) company - CPFC Midco limited. I'm not a financial expert but I imagine this sort of administrative approach isn't that unusual. Nevertheless, we should be aware of it. Harris, Blitzer, Textor, and Parish hold the reigns of all three companies.

The other interesting note is that recent filings makes clear that such investment as has been made in the club of late is entirely down to Textor's injection of cash (for his shares). Parish, Blitzer, and Harris show a marked disinclination to fund the development of the club in any way; when doing so was last needed, they went out and found Textor rather than committing any money themselves. It's little wonder that Parish and Textor appear not to get on. Textor has handed over his cash to partners who in no way match his ambition or vision for the club, and he has done so without having any real say in how the club is run, a function ceded by the majority of the shareholders to Parish. Textor is at least somewhat ambitious for his holdings; Parish, Harris, and Blitzer are demonstrably not.

In light of the realities above, it seems to me reasonable to conclude that:

1. Harris and Blitzer would clearly like to divest themselves of their interest in Palace. I'm not sure why they bought us in the first place. Presumably, after arriving they soured for whatever reasons on the original plan they had. But this is not a seller's market for a club like Palace so unless they get lucky finding a buyer, we may be stuck with them (and them with us) for a while yet.

2. Parish is loving life. He's drawing a small fortune from the club in salary, putting nothing into the club (except the work he's paid to do - and he's well remunerated for that), and he's "working for" two other shareholders who are as disinclined to put their own money into the club to grow it as he is. I suspect he's tasked with little more than maintaining PL status at the minimum cost necessary. For him, sweet. Unlike Blitzer and Harris, he's in no rush to sell his shares as he's richly rewarded for running the club without personally taking any financial risks, and he basks in the limelight of doing so. He also knows that when a sale does eventually come, he'll cash in too.

3. Textor probably isn't happy. He wants to be involved in at least somewhat ambitious football clubs (even if we don't like his multi-club operational model) and he's prepared to put his money where his mouth is to achieve success. But as a minority owner, if his partners at Palace don't share that vision then there's not much he can do.

In short, we're not in a great place right now off the pitch, let alone on it.

Sydenham by birth. Selhurst by the Grace of God.

You stopped investigating too soon as that's not the end of it. Palace Midco Ltd is a wholly owned subsidiary of Palace Holdco Ltd but that's where it all starts to get a bit murky as Holdco's ownership is vested in Delaware, a state that allows shareholders to be hidden

Financial fair play rules for the Premier League state that a club cannot spend in excess of 70% of its total revenue on wages, transfers, and agents fees. Our total revenues are presently around £150 million annually, so we can spend £105M under the cap on that basis.

Our total player salaries last season were around £67M. Therefore, we can spend roughly £40M cash per season (not including loans) on transfer fees.

This is actual spend; the money you pay in the financial year rather than the total fee. Bear in mind that the way transfers work, you usually put down around half the money when you buy a player, and pay the rest in installments over time. With that in mind, we could spend around £80M on players in any given year without threatening the cap. Put another way, we don't spend anything close to that.

It's wrong to say what you have - that only by increasing our revenues can we become more competitive. In fact, we could become more competitive first (by building a stronger team) and then seeing revenues increase as a result. I'm not saying that's the best way to do it, but it is possible. Either way, the cap is not an issue for CPFC. If we are not competitive with mid-table clubs, it's because our board doesn't invest and thereby chooses not to be.

Sydenham by birth. Selhurst by the Grace of God.