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CPFC - The Finances
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 BarryXL  19 Jul 18 4.10pm |
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Originally posted by bexleydave
A new stand at Palace won’t necessarily solve the problem. They will have to ensure that many of the extra seats go to hospitality customers. If 10,000 extra seats are sold to regular fans at (say) £500 a pop (and remember West Ham have theirs starting at £299) then this works out at £4.2 million a year in extra income after deducting VAT. The estimated costs of the expansion are £75-£100 million. Even at the lower threshold, borrowing this at 5% pa works out at £3.75m a year in interest costs. If it’s £100m then £5m a year. This is why you should take every word that Brighton's Kieran Maguire/El Presidente (the author of the apparently much admired commentaries on Palace's finances) has to say with a very large pinch of salt. Nowhere has it ever been suggested that we are borrowing £75m-£100m for the new stand and I can guarantee that we won't be selling season tickets for it at "£500 a pop" in the 2020/21 season. I'm not sure how you can say that the figures in that report on the accounts are in any way affected by an agenda or should be taken with "a pinch of salt". They are facts. Accepted facts in black and white from the club's audited accounts, the gist of which are being confirmed by Roy in his comments re the wages / finances. By all means point out that the analysis is done by a Brighton fan, that's also a fact. But trying to say that the figures can be made to look like something they are not is disingenuous and doesn't help the debate one bit.
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| BarryXL 19 Jul 18 4.16pm |
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Originally posted by Palace in the Blood
I am fairly sure it was a way of reducing the overall tax bill for the football club. The rent on the office is an operating cost and bonus will be tax deductable. SP will have had to have paid tax on his bonus but will have been given a tax credit for the investment. Smoke and Mirrors is a seperate legal entity so its tax and financial affairs are seperate. Without looking at it filed documents you can never be sure but it is possible it makes loans to club at a preferential rate. Before certain posters who lack the professional expertise say this is a guess. These are legal means as are those I suggested were possible in contract law in another thread. As others have mentioned, this makes absolutely no sense whatsoever from a tax point of view. It's not a guess, it's just completely incorrect. From someone who doesn't lack the "professional expertise" to comment on it.
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| murphyn13 portsmouth 19 Jul 18 4.25pm |
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Although the Link isn't narrated by an impartial source, the facts and figures very much do belong to an impartial source. It's an interesting take on things nonetheless, and in my opinion gives credence to the fact that Parish & co have done an excellent job, although our close run relegation battle last year doesn't bear thinking about (if we were indeed relegated). The wage structure would crumble, as would the first team squad. Those kinds of close encounters are often the catalyst for something much greater though - looking forward to the season ahead!!!
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| Midlands Eagle 19 Jul 18 5.12pm |
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Originally posted by BarryXL
I'm not sure how you can say that the figures in that report on the accounts are in any way affected by an agenda or should be taken with "a pinch of salt". They are facts. Accepted facts in black and white from the club's audited accounts, the gist of which are being confirmed by Roy in his comments re the wages / finances. By all means point out that the analysis is done by a Brighton fan, that's also a fact. But trying to say that the figures can be made to look like something they are not is disingenuous and doesn't help the debate one bit. BD didn't say that the facts were inaccurate as his comment pertained to the opinions expressed and the daft analysis done by his alter ego on the NSC forum where he pointed out that the increased revenue for the extra seats would be about the same as the interest costs on the money borrowed to build the stand. As BD pointed out - nowhere has it said that the money to build the stand would be borrowed as it's just as likely that the Americans would inject the funds as capital. Whilst Parish may have many faults simple mathematics isn't one of them
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| bexleydave Barnehurst 19 Jul 18 5.19pm |
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Originally posted by BarryXL
I'm not sure how you can say that the figures in that report on the accounts are in any way affected by an agenda or should be taken with "a pinch of salt". They are facts. Accepted facts in black and white from the club's audited accounts, the gist of which are being confirmed by Roy in his comments re the wages / finances. By all means point out that the analysis is done by a Brighton fan, that's also a fact. But trying to say that the figures can be made to look like something they are not is disingenuous and doesn't help the debate one bit. How much weight do you suppose the Seasiders would put on a financial analysis of their accounts by a Palace supporter? As I've already pointed out, there is an attempt in that 'analysis' to cast suspicion on Parish's motives for charging for accommodation and services, that the other owners must be agreeable to and to enhance that by referring to the note on monies repaid by Parish as "defensive". And as you've conveniently ignored it, where have our owners ever suggested that we are borrowing £75m to £100m to build the main stand and do you seriously believe that season tickets will be £500 p.a. when it opens? I have given my opinion, which you disagree with, but there's nothing disingenuous about it.
Bexley Dave Can you hear the Brighton sing? I can't hear a ******* thing! "The most arrogant, obnoxious bunch of deluded little sun tanned, loafer wearing mummy's boys I've ever had the misfortune of having to listen to" (Burnley forum) |
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| Nobbybm Dartford 19 Jul 18 8.03pm |
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Originally posted by Rudi Hedman
Yes I’m not falling into those little tarts’ trap of beating Parish over earnings which has been agreed but ‘Smoke And Mirrors’ is definitely a lack of judgement. I seem to recall that business was deliberately named as a tongue-in-cheek dig at some detractors. There was an article at the time the yanks came on board that mentioned the rent was, initially, set at a “peppercorn” level but this needed to change to satisfy HMRC following their investment. Maybe this was the reason for the sudden increase? If it was a very low figure to start then a threefold increase isn’t massive financially. Not that I feel we need a Soho office.
Will this be five? It's gonna be five! It IS five! |
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 grumpymort  US/Thailand/UK 19 Jul 18 8.11pm |
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Originally posted by bexleydave
How much weight do you suppose the Seasiders would put on a financial analysis of their accounts by a Palace supporter? As I've already pointed out, there is an attempt in that 'analysis' to cast suspicion on Parish's motives for charging for accommodation and services, that the other owners must be agreeable to and to enhance that by referring to the note on monies repaid by Parish as "defensive". And as you've conveniently ignored it, where have our owners ever suggested that we are borrowing £75m to £100m to build the main stand and do you seriously believe that season tickets will be £500 p.a. when it opens? I have given my opinion, which you disagree with, but there's nothing disingenuous about it.
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| bexleydave Barnehurst 19 Jul 18 8.44pm |
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Originally posted by grumpymort
Look at the current season ticket prices £500 you could say may of been generous figure are current prices are rip off and already around that price Well, if you feel "ripped off" now you're probably not going to like the prices much when the new stand opens in 2020/21
Bexley Dave Can you hear the Brighton sing? I can't hear a ******* thing! "The most arrogant, obnoxious bunch of deluded little sun tanned, loafer wearing mummy's boys I've ever had the misfortune of having to listen to" (Burnley forum) |
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| grumpymort US/Thailand/UK 19 Jul 18 9.14pm |
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Originally posted by bexleydave
Well, if you feel "ripped off" now you're probably not going to like the prices much when the new stand opens in 2020/21
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| MrCParrot Taunton 19 Jul 18 10.56pm |
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if we assume its true and our finances are such that we can't spend this year and actually losing Cabaye Delaney Chungy Sako Cavalieri has only allowed us to bring in Guaita and balance the books then I'm disappointed its been allowed to get to that point but we are still in the prem after all. Parrot
Mr Cadbury's Parrot says "Hello" |
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| Rudi Hedman Caterham 19 Jul 18 11.08pm |
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Originally posted by MrCParrot
if we assume its true and our finances are such that we can't spend this year and actually losing Cabaye Delaney Chungy Sako Cavalieri has only allowed us to bring in Guaita and balance the books then I'm disappointed its been allowed to get to that point but we are still in the prem after all. Parrot
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| Midlands Eagle 20 Jul 18 7.02am |
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Originally posted by Nobbybm
I seem to recall that business was deliberately named as a tongue-in-cheek dig at some detractors.
Somehow I doubt it as Smoke & Mirrors Group Ltd was formed in 1997
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