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May 18 2024 9.56pm

Textor

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View NEILLO's Profile NEILLO Flag Shoreham-by-Sea 16 Jan 24 10.20pm Send a Private Message to NEILLO Add NEILLO as a friend

Originally posted by Midlands Eagle

The role of directors is to run the company on behalf of the shareholders and in this case Textor is the largest shareholder with 45% of the equity.

As Parish is well aware Textor isn't resident in the UK and would probably be unaware of the Premier League proposals so Parish would be duty bound to inform him to discuss which way the club should vote

The Corporate world that I ( and I assume you also ) worked in, yes.

However it has long been the case that normal rules suddenly don't apply when it comes to running football clubs.

* Parish is responsible and empowered to lead the day to day running of the club. He may well argue that his actions were, in his opinion, in the best interests of CPFC - and therefore Textor as majority shareholder. They may well not have not been in the best interests of Eagle Holdings, Textors company.

* As I said earlier in this thread, Textor's involvement has largely been a disappointment because it's apparent that he doesn't agree with Parish on a number of issues and the result is a lack of harmony and unified direction from the Board. How did they ever agree to do business with one another in the first place ?

* Textor Eagle Holdings have investments in 2 other European clubs. There's quite a bit of money at stake. If I was him I would be all over and on top of every piece of football governance that affects my investments.

That was a point made quite forcibly by Simon Jordan on Talksport. And as SJ said, he's hardly Parish's biggest fan.

I'm just waiting for their next dispute, unless Textor can sell his shares quickly.

 


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View glazedallover's Profile glazedallover Flag Allier 16 Jan 24 11.33pm Send a Private Message to glazedallover Add glazedallover as a friend

Originally posted by NEILLO

The Corporate world that I ( and I assume you also ) worked in, yes.

However it has long been the case that normal rules suddenly don't apply when it comes to running football clubs.

* Parish is responsible and empowered to lead the day to day running of the club. He may well argue that his actions were, in his opinion, in the best interests of CPFC - and therefore Textor as majority shareholder. They may well not have not been in the best interests of Eagle Holdings, Textors company.

* As I said earlier in this thread, Textor's involvement has largely been a disappointment because it's apparent that he doesn't agree with Parish on a number of issues and the result is a lack of harmony and unified direction from the Board. How did they ever agree to do business with one another in the first place ?

* Textor Eagle Holdings have investments in 2 other European clubs. There's quite a bit of money at stake. If I was him I would be all over and on top of every piece of football governance that affects my investments.

That was a point made quite forcibly by Simon Jordan on Talksport. And as SJ said, he's hardly Parish's biggest fan.

I'm just waiting for their next dispute, unless Textor can sell his shares quickly.

This is the correct answer .....

 

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View Gary St.Andrews's Profile Gary St.Andrews Flag Kenley 17 Jan 24 6.35am Send a Private Message to Gary St.Andrews Add Gary St.Andrews as a friend

Too many cooks have really spoilt this broth, this is why nothing gets carried out and concluded. Trust us to end up with a bunch of attention seeking b******s!

 

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View IMilburn's Profile IMilburn Flag Chiang Rai / Rayong 17 Jan 24 7.05am Send a Private Message to IMilburn Add IMilburn as a friend

Normal rules surely can be applied.

Parish has been empowered by the shareholders as a whole to run the company. If Textor wants to remove Parish, he would need to call a shareholder meeting.

Textor holds 45% of the shares but that doesn't constitute a majority. He would need the support of either Harris, Blitzer or Parish himself to get his proposal implemented. That would surely be unlikely.

It has also been suggested that each shareholder has 25% voting rights. If so, Textor would need the support of two of the others to gain more than 50% of the votes, which is even more unlikely.

It's been written elsewhere that Parish isn't stupid; it seems to me that he's pretty fireproof in this situation.

Originally posted by NEILLO

The Corporate world that I ( and I assume you also ) worked in, yes.

However it has long been the case that normal rules suddenly don't apply when it comes to running football clubs.

* Parish is responsible and empowered to lead the day to day running of the club. He may well argue that his actions were, in his opinion, in the best interests of CPFC - and therefore Textor as majority shareholder. They may well not have not been in the best interests of Eagle Holdings, Textors company.

* As I said earlier in this thread, Textor's involvement has largely been a disappointment because it's apparent that he doesn't agree with Parish on a number of issues and the result is a lack of harmony and unified direction from the Board. How did they ever agree to do business with one another in the first place ?

* Textor Eagle Holdings have investments in 2 other European clubs. There's quite a bit of money at stake. If I was him I would be all over and on top of every piece of football governance that affects my investments.

That was a point made quite forcibly by Simon Jordan on Talksport. And as SJ said, he's hardly Parish's biggest fan.

I'm just waiting for their next dispute, unless Textor can sell his shares quickly.

 

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View Eaglecoops's Profile Eaglecoops Flag CR3 17 Jan 24 7.28am Send a Private Message to Eaglecoops Add Eaglecoops as a friend

Having someone with 10% ownership rights but 25% voting rights is plain crazy, but you could say not as crazy as a shareholder having 45% ownership rights but only 25% voting rights.

IMO this is a set up that’s asking for trouble and it is no surprise that there is grumbling amongst the two active protagonists in Textor and Parish.

Personally I think Textors other football holdings make him a dangerous part owner and we have already seen his influence in the transfer market. You also get the feeling his loyalties lie more with the French side of his business than Palace but this is only guesswork as no one seems to have a proper handle on him.

I think this window will be quite telling of how our boardroom is currently functioning.

 

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View Midlands Eagle's Profile Midlands Eagle Flag 17 Jan 24 8.35am Send a Private Message to Midlands Eagle Add Midlands Eagle as a friend

Originally posted by Gary St.Andrews

Too many cooks have really spoilt this broth, this is why nothing gets carried out and concluded. Trust us to end up with a bunch of attention seeking b******s!

There is only one attention seeker on our board and I'm not sure that is who you were referring to

 

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View eagleman13's Profile eagleman13 Flag On The Road To Hell & Alicante 17 Jan 24 9.35am Send a Private Message to eagleman13 Holmesdale Online Elite Member Add eagleman13 as a friend

Originally posted by Midlands Eagle

There is only one attention seeker on our board and I'm not sure that is who you were referring to

As he posted 'bunch' to anyone of intelligence that usually means plural, not singular.

 


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View eaglesdare's Profile eaglesdare Flag 17 Jan 24 9.43am Send a Private Message to eaglesdare Add eaglesdare as a friend

Originally posted by Eaglecoops

Having someone with 10% ownership rights but 25% voting rights is plain crazy, but you could say not as crazy as a shareholder having 45% ownership rights but only 25% voting rights.

IMO this is a set up that’s asking for trouble and it is no surprise that there is grumbling amongst the two active protagonists in Textor and Parish.

Personally I think Textors other football holdings make him a dangerous part owner and we have already seen his influence in the transfer market. You also get the feeling his loyalties lie more with the French side of his business than Palace but this is only guesswork as no one seems to have a proper handle on him.

I think this window will be quite telling of how our boardroom is currently functioning.

Surely the Americans knew before buying the ownership that parish has more say? Surely they would have signed of before.

I am afraid it's stupidity on textor and Co then. And I honestly would not trust them then to keep within FFP.

 

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View NEILLO's Profile NEILLO Flag Shoreham-by-Sea 17 Jan 24 10.11am Send a Private Message to NEILLO Add NEILLO as a friend

Originally posted by eaglesdare

Surely the Americans knew before buying the ownership that parish has more say? Surely they would have signed of before.

I am afraid it's stupidity on textor and Co then. And I honestly would not trust them then to keep within FFP.

Harris and Blitzer are ok with and empower Parish to run the club.
That's established.

It's Textor who is the odd one out.

 


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View ex hibitionist's Profile ex hibitionist Flag Hastings 17 Jan 24 10.18am Send a Private Message to ex hibitionist Add ex hibitionist as a friend

some articles are suggesting Textor wanted Munoz (Genk right back) for Botafago not Palace, hence the rift.

 

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View eaglesdare's Profile eaglesdare Flag 17 Jan 24 10.30am Send a Private Message to eaglesdare Add eaglesdare as a friend

Originally posted by NEILLO

Harris and Blitzer are ok with and empower Parish to run the club.
That's established.

It's Textor who is the odd one out.

That's fair enough. But why did textor agree with the model in the first place and then throw his toys out of his pram after agreeing.

 

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View CpfcWeTrust1's Profile CpfcWeTrust1 Flag 17 Jan 24 11.21am Send a Private Message to CpfcWeTrust1 Add CpfcWeTrust1 as a friend

Originally posted by IMilburn

Normal rules surely can be applied.

Parish has been empowered by the shareholders as a whole to run the company. If Textor wants to remove Parish, he would need to call a shareholder meeting.

Textor holds 45% of the shares but that doesn't constitute a majority. He would need the support of either Harris, Blitzer or Parish himself to get his proposal implemented. That would surely be unlikely.

It has also been suggested that each shareholder has 25% voting rights. If so, Textor would need the support of two of the others to gain more than 50% of the votes, which is even more unlikely.

It's been written elsewhere that Parish isn't stupid; it seems to me that he's pretty fireproof in this situation.

Totally agree.

Frankly, I'd rather Parish has that voting power over Textor. My opinion is that Textor seems to envision Palace as a funnel for his other football clubs and how to profit from selling players via transfers between them. He would've known what he was getting into when buying shares, I expect it would've been very clearly stated. If he thought otherwise, then that's on him. My preference would be Textor makes an exit as and when he can and sells up. The guy doesn't come across as transparent with his businesses.

 

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