Crystal Palace made a loss of more than £5m in the last financial year – their first under the control of CPFC 2010.

CPFC 2010 Limited, posted an overall loss of £5,290,590 having increased its turnover to £12,706,503 in the year ending June 30, 2011.

More than £4m of that loss though is made up of goodwill impairment – which represents a decrease in certain items’ value – meaning the real loss is only a little over £1m.

Other noticeable figures in the annual report include more than £1.2m spent of transfer fees, £8,188,809 spent on players’ wages and £1.5m put toward improving facilities at Selhurst Park.

All four owners, Steve Parish, Martin Long, Stephen Browett and Jeremy Hosking all loaned £2,562,500 to the club, with Hosking adding another £90,000 for the club’s schools marketing programme.

In the directors’ report, Parish and Long state the Premier League must be the club’s target and that they are aiming for a category one youth academy.

“Achieving and maintaining Premier League status must be the key goal for the club going forward,” they said.

“The directors are also broadly favourable to the new EPPP scheme but we are committed to fight the fixed compensation scheme being put in place.

CPFC 2010 svarte på spørsmål rundt nyheten:

Quote:rnOriginally Posted by Grey EaglernI saw a report in this week’s Croydon Guardian that CPFC have posted losses of £5m for the past finacial year. I understand that approximately £4m was due to goodwill impairment and that the true trading loss was around £1m on a £12m turnover. Obviously this is still a substantial figure.

My question is really based on how the turnover is expected to increase in the coming year or two. I assume the £12m turnover is greatly impacted upon by the long term season tickets sold under the old regime ? With these tickets starting to be renewed in the next year or two. If the cost base of the club was to remain as it is now, would the anticipated increase in revenue from season ticket holders put the club back into the black or would we have to sell players in the medium term to balance the books ?

rnCPFC will almost certainly have to sell players or get promotion to the Premier League or the owners will have to put in more money. That’s the way that it’s always been under previous owners and that probably won’t change.

At the moment we are putting in more money and buying rather than selling players. The Cup run helped to reduce the losses this year. Increased ticket sales will help a lot, so that is certainly a major target. We really need everyone whose long-term season ticket deal has expired to renew at today’s realistic prices.