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Dick Knight said, "The playing budget I gave Peter for next season is a substantial increase over the current season, and is a guaranteed minimum, and assumes no TV money for Division One clubs because of the current ITV dispute."
Knight added, "The Board and I will not place Brighton & Hove Albion in a massive debt position because of unrealistic assumptions of TV money. The message that First Division clubs could be facing a reduction of around £60 million next season in lost TV money is a penny that will eventually drop on the playing side.
"Meanwhile I gave Peter a realistic, but substantially improved, budget based on the current situation. His decision that he can't work with that is sad, but I will find a manager who will relish the challenge of taking the Albion forward "
Personally I don't feel that this a great loss, PT never really endeared himself to the Fans. Stating that he felt the Club would go straight back down on the budget offered to him, in my opinion is a totally unproffessional act.
He seems to want to do something to enhance his CV, not to enhance his reputation. The man is a bigtime loser, and Palace are welcome to him if that's where he's going.