Pompey - ha ha!

[Dick Knights Mumm]

I would relegate three divisions at least. That is a deterrent. It can take along time to get back through the divisions. The supporters don't really suffer and it is a real deterrent to other clubs.

 

[sten_super]

What you say is perfectly true, but what about the £300 a week trainees at the companies of creditors they are screwing over? Why should the £300 a week Pompey trainees be treated any differently from the £300 a week trainee chefs at the caterers Pompey are screwing over?

You are right, and I don't disagree at all. What I was more commenting on was the very selective reporting; that they could have at least mentioned what the impact would have been on Watford, or the YTS lads, but instead chose to concentrate on debts to Premiership clubs and first team footballers in order to make out that it was only these multi-millionaires that were benefitting from the football creditors rule.

Well ideally I'd like to see them 'do a Southampton' and pay off all their debts in full. But failing that, yes, I want to see them 'do an Aldershot'. It's only happened before to the little clubs, the big clubs (Palace, Leicester, Leeds, Palace again, etc) seem to hide behind the mountains of paperwork, a bewildering legal trail and various off-shore companies. A bit of corporate sleight-of-hand and the new club emerges and pretty much carries on as before. Crucially other clubs see that and realise there's no real penalty in 'chasing the dream' so long as the scale of your debts is high enough (to block HMRC) and the papertrail dense enough. And so it goes on, with the knock-on effect that other clubs have to raise their prices in order to generate income to compete with the profligate clubs - so we all suffer.

To turn the question on it's head slightly: what do you think should happen to them? Is relegation from the Premiership (which would probably have happened anyway) and a ten, twenty, thirty, whatever point deduction in the Championship a sufficient punishment?

I agree with this entirely. Clubs which enter administration (read "screw over creditors") should have their Football League share witheld until they pay the debts back in full. If they can't (i.e. no super rich man comes in willing to do so) then they start again. And my view would be the same if it was us in administration as well, or any club.

 

[Lady Whistledown]

The joke is, they will still receive their however many millions in parachute payments from the Premier League for the next three seasons, thus continuing to give them significant advantage over other clubs at their level.

Parachute payments encourage exactly the sort of behaviour that clubs like Pompey get themselves into trouble over.

 

[Dick Knights Mumm]

The joke is, they will still receive their however many millions in parachute payments from the Premier League for the next three seasons, thus continuing to give them significant advantage over other clubs at their level.

Parachute payments encourage exactly the sort of behaviour that clubs like Pompey get themselves into trouble over.

Parachute payments should go straight into the creditors pot. And that pot should include all football creditors including players with contracts over a pre-defined value.

 

[sten_super]

Latest from Dan Roan; BBC correspondent (http://twitter.com/danroan)
Pompey in High Court: HMRC now arguing football creditors shouldn't have been allowed to vote on the CVA when they had preferred status

Bloody hell, is that true? How on earth are preferred creditors, who have to be paid back in full, allowed to vote on the CVA?

 

[Gritt23]

Latest from Dan Roan; BBC correspondent (http://twitter.com/danroan)
Pompey in High Court: HMRC now arguing football creditors shouldn't have been allowed to vote on the CVA when they had preferred status

Bloody hell, is that true? How on earth are preferred creditors, who have to be paid back in full, allowed to vote on the CVA?

I would guess that is an abnomoly that has just never been considered before, as preferential creditors are not allowed elsewhere in business, so the rules on CVAs wouldn't have thought to cover it.

Interesting point, and it would seem unreasonable to allow them to vote. I would assume that the ruling will hark back to the rules in the days when the HMRC were a preferential creditor. In those days, did they get to vote on a CVA?

 

[Gritt23]

Not yet, but if Pompey go bust (as they should do), then the fans will have suffered, no doubt about it.

But that won't happen will it. The fans will have enjoyed the ride of spending beyond their means, with all the big days out and success that has brought, with the downside merely being it coming to an end, as they return to being a second tier club who may occassionally slip down a further division.

That's what they were, and that's what they will be again. The intervening time is just a happy distraction from that for a few years, as far as the fans go. But has potentially destroyed a lifetimes work, of building up a business for those creditors who are seeing a fraction of the money that is owed to them.

 

[HampshireSeagulls]

Now the whining fuckers are starting to annoy me. Apparently it's all a big conspiracy with the Premier League wanting to throw them out, then keeping them in the League to prop it up. They want to charge all the previous owners and not the club (forgetting it's a business!), they think they should be in Europe (despite being in Administration), they want everyone else charged as well, they don't think they should be punished because they are "The Best Supporters In The World TM" - bunch of whining inbred fuckers who don't deserve a club. The reckon it is down to their ground, to not having a roof on one stand, not having good training facilities, not having a good car park - anything except spending money they did not have and trying to avoid tax payments so that they could have players they could not afford.

They just don't "get it" about the club being "punished". The club is the business, they broke the law, they are going to get bent over and shafted.

Best statement - the Premier League is all about greed and I am glad we are not in it anymore! Bet they won't be giving those nasty parachute payments back though....

 

[beorhthelm]

Bloody hell, is that true? How on earth are preferred creditors, who have to be paid back in full, allowed to vote on the CVA?

i dont see it can be correct, if they have been paid they are no longer a creditor so not involved. if they have outstanding debt then yes they should be able to vote (the "prefereed creditors" is unofficial/unrecognised in law so wouldnt come into it).

 

[Bozza]

http://twitter.com/danroan/status/20308005374 ...

Problems for Pompey in High Court: seems some football creditors who voted for CVA may not have been 'creditors'. CVA may be in doubt

 

[severnside gull]

it gets better and better.

the administrator should be struck off

 

[Gritt23]

So, presumably then, if the CVA gets thrown out, Pompey will start the season on -10 or -15 pts, for not having it agreed when the season starts?

 

[itszamora]

So, presumably then, if the CVA gets thrown out, Pompey will start the season on -10 or -15 pts, for not having it agreed when the season starts?

One would assume so, although without a CVA there is a real possibility of liquidation. Oh well.

 

[Gwylan]

So, presumably then, if the CVA gets thrown out, Pompey will start the season on -10 or -15 pts, for not having it agreed when the season starts?

I saw -25 points in one report but I have no idea how these things are worked out.

Why did Luton start with a 30 pt deduction a couple of years ago? That seemed a random number

 

[Simster]

Lets hope justice is actually done and Pompey plummet down the divisions.

 

[Napper]

One would assume so, although without a CVA there is a real possibility of liquidation. Oh well.

oh please God let this happen.

Wonder if we would gain any support ?

 

[Dick Knights Mumm]

Lets hope justice is actually done and Pompey plummet down the divisions.

Amen to that.

 

[D'Angelo Saxon]

http://twitter.com/danroan/status/20308005374 ...

Problems for Pompey in High Court: seems some football creditors who voted for CVA may not have been 'creditors'. CVA may be in doubt

Slightly off topic Bozza, but how do you single out one tweet like that - can't work out how to do it...

 

[Bozza]

Slightly off topic Bozza, but how do you single out one tweet like that - can't work out how to do it...

On Twitter.com itself, under each Tweet is listed when the Tweet was made, e.g. NSC's last post was made 'about 19 hours ago'.

The 'about 19 hours ago' is actually a link. Click it to be taken to the URL you want, or right click and copy the link.

 

[D'Angelo Saxon]

On Twitter.com itself, under each Tweet is listed when the Tweet was made, e.g. NSC's last post was made 'about 19 hours ago'.

The 'about 19 hours ago' is actually a link. Click it to be taken to the URL you want, or right click and copy the link.

Thanks!