Crystal Palace chairman Steve Parish has said the Eagles are committed to coming out of the current situation in as strong a state as possible. But Palace has confirmed a £5.4million profit for the year to June 2019 in their annual review – after a £35.5million loss the year before – with Parish stating that the Eagles went into the current situation in “excellent shape financially.” However, he has said that no-one can provide “complete assurances” over their future as he confirmed that Palace has taken on a loan to help see the club through the challenging period.
Steve Parish said “Since finalising our accounts for the year ended 30 June 2019 and writing the Strategic Report below, the world has changed drastically. The Covid-19 virus has created a public health emergency and taken many loved ones from families and friends. Our deepest sympathies and condolences go out to everyone affected. Due to Covid-19 the outlook for every business is uncertain and football clubs are no different. Our club went into this in excellent shape financially. During the current financial year 2019/20 we had used the proceeds of the Aaron Wan-Bissaka sale to comply with FFP and pay down our bank debt leaving only some relatively small deferred transfer payments outstanding. Whilst no-one can give complete assurances about the future, we are committed to bringing the club out of this crisis in as strong a state as possible in order that we can build on the success of the past 10 years. Last month the club has taken on some new external debt so that we have as much liquidity as possible to see us through this challenging period.”