The Media Say i have a Financial Crisis!

This is the first i have known about this situation. I have been managing Crystal Palace for around 5 seasons. I am in my second year in the Prem sitting about 10th. The board gave me 35 Million to spend over the summer which i was quite surpised about. Have spent most of that and have remained under the wage budget.

However i am now 20 million in debt!

A friend said i should have looked at the finances before i spent the money. I said i have not spent more than they gave me or gone over budget in anyway and it must be the boards job to ensure that we don't over spend in the transfer markets.

Discuss...

Do we think that the club will go bust. I doubt it as i got 30 mill in tv revenue last season and should ge at least that again. Who knows!

Well your transfer budget is linked to your balance im sure you wont go bust just sell 1-4 players that are surplus to your team and even the numbers closer to the black you will be fine the worst that will happen is point deduction or that you will have very low transfer budget next season

You seem to have a board that will allow you to spend beyond the club's means, which is good, but risky. You only need to look at clubs like Leeds and Portsmouth to see what happens when things go wrong.

If you know you can recoup the debt, go for it. I regularly put my club in debt and have gotten away with it so far. Last season I was £40m in debt.

exactly what Dafuge said just take the chance and see where it leads xD

Your transfer budget is often linked to your balance, but not always. If your board are desperate to secure survival or top 4 etc they may allow you to spend beyond your means - which seems to be the case here. I'm sure if you can hold off til the end of the season the TV money etc might replenish your balance. Could always let a couple of high earners go if it's that bad. Keep an eye on that balance!

cant be simon jordan then

No Simon Jordan has gone. Got bought out buy a Bulgarian guy almost two years ago.

Has been splashing a bit of cash and says he is there to stay.

Bunged in almost a million pounds to "cover running costs" last month!

Think the new board are a bit more risky. they are making me feel a bit nervous. Exciting though: we will not be relegated this season and are in with a shout of a Europe place.

Last season I was £40m in debt.

Thats not enough for point deductions? Or you got rid of it right away?

Thats not enough for point deductions? Or you got rid of it right away?

I pulled a lot of it back with the prize money, but then went back into a load of debt by signing another player.

I'm not going to go into administration as it is only my transfers that are putting me into debt, without them I would be running at a profit. The club is also worth a lot, so if things got really bad I could easily clear the debt by selling a couple of star players.

I think administration only happens when the club has no means of clearing the debt, which isn't a position I'm in. If I thought I couldn't clear the debt, I wouldn't be doing it.

well i look at it this way. when a board gives u money to spend its very easy 2 feel like a kid whos locked in a sweet shop. most people will go and spend the money they have got on a couple of top players and hope for success because of it. if the club is then in financial problems its because the board gave u a fat cheque book!!!

this is where i like to be prudent. i rarely spend 10m a season let alone the 30m u say. truth is i send my scouts everywhere looking for the bright young talents i can buy fairly cheap. Brazil is a top place to sign cheap players. Also i look in Holland and Ireland quite a lot. Im proud of the fact i do well at clubs and make profit as well, just like a mr wenger lol.

yes u have spent money and it could come back to pinch u in the backside, but nows the chance to try and find some cheap young talent for the future and let them cobwebs gather on the chequebook