Post by Macmoish on Oct 11, 2010 6:21:22 GMT
Amazing if true. Especially as previous owner, Mark Goldberg also supposedly lost multi-millions on Palace. (Ah but at QPR, our Gianni did mortgage his house/s)
The Sun
Jordan: I lost £47m on PalaceBy PAUL JIGGINS
SIMON JORDAN claims being chairman of Crystal Palace cost him a whopping £47MILLION.
He admitted: "I just wish I had enjoyed my time there a bit more."
Jordan was forced out after the South London club went into administration in late January.
It ended the flamboyant, perma-tanned businessman's expensive 10-year stint as Selhurst Park supremo.
He added: "There are two valuations of how much I've lost. My accountant will tell you I've lost £47m. But in pound notes I've probably lost closer to £35m.
"Do I regret losing that money? Of course I do. But it's done now."
The multi-millionaire mobile phone magnate became the Football League's youngest chairman when, at 32, he bought Palace in 2000.
The Eagles reached the Premier League in 2004 but were relegated after a season.
Following a couple of failed bids to win promotion back to the Promised Land, Jordan announced in July 2008 he was disillusioned and looking to sell.
But he could not find a buyer and the club went into administration on January 26.
He said: "For the majority of my tenure, Palace did punch above their weight.
"We got into the Premier League and could have stayed there. We had good managers and I was prepared to keep on backing them. I was probably a bit too brave for my own good."
Despite being deducted 10 points for going into administration and losing boss Neil Warnock to QPR, Palace avoided relegation from the Championship last season.
They were taken over by the CPFC2010 consortium in the summer.
Jordan insisted: "The only person who really got hurt was me.
"The club didn't lose any players and acquired the freehold of the stadium, which I could never get from Ron Noades. I have spent the last 18 months in purgatory.
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"In the last year I had to put £6m into Palace, I lost £7m on the stock market, I had £3m in a film, £4m in Spain and £2.5m in another deal.
"For the first time in 10 years I got caught short with liquidity and had a problem with a funder who put the club into administration."
He reckons it would all have been different had Ben Watson not missed a penalty in the club's Championship play-off semi-final, second leg against Bristol City in 2008.
Watson, now at Wigan, had the chance to put the Eagles 3-2 ahead on aggregate and en route to the Prem. But he hit a post and Palace went down in extra-time 4-2 on aggregate.
Jordan declared: "That defeat was a pivotal moment. Had Ben Watson scored, things would have been totally different."
Jordan does not know if he will return to football.
He said: "People ask what I have been doing for the last nine months. I'd like to say counting my money. But these days it doesn't take that long!"
www.thesun.co.uk/sol/homepage/sport/football/3173529/Simon-Jordan-I-lost-47million-on-Crystal-Palace.html
The Sun
Jordan: I lost £47m on PalaceBy PAUL JIGGINS
SIMON JORDAN claims being chairman of Crystal Palace cost him a whopping £47MILLION.
He admitted: "I just wish I had enjoyed my time there a bit more."
Jordan was forced out after the South London club went into administration in late January.
It ended the flamboyant, perma-tanned businessman's expensive 10-year stint as Selhurst Park supremo.
He added: "There are two valuations of how much I've lost. My accountant will tell you I've lost £47m. But in pound notes I've probably lost closer to £35m.
"Do I regret losing that money? Of course I do. But it's done now."
The multi-millionaire mobile phone magnate became the Football League's youngest chairman when, at 32, he bought Palace in 2000.
The Eagles reached the Premier League in 2004 but were relegated after a season.
Following a couple of failed bids to win promotion back to the Promised Land, Jordan announced in July 2008 he was disillusioned and looking to sell.
But he could not find a buyer and the club went into administration on January 26.
He said: "For the majority of my tenure, Palace did punch above their weight.
"We got into the Premier League and could have stayed there. We had good managers and I was prepared to keep on backing them. I was probably a bit too brave for my own good."
Despite being deducted 10 points for going into administration and losing boss Neil Warnock to QPR, Palace avoided relegation from the Championship last season.
They were taken over by the CPFC2010 consortium in the summer.
Jordan insisted: "The only person who really got hurt was me.
"The club didn't lose any players and acquired the freehold of the stadium, which I could never get from Ron Noades. I have spent the last 18 months in purgatory.
Advertisement
"In the last year I had to put £6m into Palace, I lost £7m on the stock market, I had £3m in a film, £4m in Spain and £2.5m in another deal.
"For the first time in 10 years I got caught short with liquidity and had a problem with a funder who put the club into administration."
He reckons it would all have been different had Ben Watson not missed a penalty in the club's Championship play-off semi-final, second leg against Bristol City in 2008.
Watson, now at Wigan, had the chance to put the Eagles 3-2 ahead on aggregate and en route to the Prem. But he hit a post and Palace went down in extra-time 4-2 on aggregate.
Jordan declared: "That defeat was a pivotal moment. Had Ben Watson scored, things would have been totally different."
Jordan does not know if he will return to football.
He said: "People ask what I have been doing for the last nine months. I'd like to say counting my money. But these days it doesn't take that long!"
www.thesun.co.uk/sol/homepage/sport/football/3173529/Simon-Jordan-I-lost-47million-on-Crystal-Palace.html
