The sixth anniversary of CPFC2010’s deal to save Crystal Palace from extinction passed on Wednesday, and now, an independent report has looked into the club’s debt in direct comparison with the rest of the Premier League.
It is no secret that the Eagles have seen financial mismanagement play a huge role in their recent history, with two stints in administration over the last 20 years provoking a sense of genuine trepidation amongst our fan-base whenever our name is uttered in the same sentence as the word “debt”.
Since winning a place in the Premier League for the start of the 2013/14 season, Steve Parish and his fellow directors have remained admirably careful with the club’s overall budget, mainly as a consequence of a desire to remain on solid footing behind the scenes, but now, with the influx of American money offering an added sense of security, we may see our general budget increased heading into the impending summer transfer window.
The table attached at the top of this article, which ranks each of our competitors in relation to their overall levels of debt, demonstrates the incredible amount of money many clubs are willing to risk for a shot at glory, making the sums we were recently plunged into administration over look positively pathetic by comparison.
As is the case across each and every transfer window, supporters are desperate to see the board splash the cash on new arrivals this summer, but you can clearly see from the club’s occupying the fifth and third highest places on the league table of debt above; throwing vast sums of money after a bad idea isn’t always the best way to navigate your way through a crisis.
It makes for a very interesting read.