Pompey issued winding up petition

[Lord Bamber]

What it it with Pompey ? They never seem to think the rules apply to them. PLEASE get this club wound up once and for all for christs sake. Its beyond a joke now.

Sadly they have been arrogant beyond belief with their financial wrong doings for too long now. Time to say goodbye to Pompey.

 

[Dick Knights Mumm]

No-one wants their big earners do they ? Who would want Kitson ?

 

[pasty]

What with this and the Redknapp trial, it's beginning to look like the City of Portsmouth has registered itself as one of these offshore tax havens.

Cayman Islands, BVIs, Monaco, Jersey, Switzerland, Pompey. Save with us, boys, we'll say no more, nudge nudge wink wink...

Maybe they thought Hayling Island was a tax haven?

 

[Dirk Gently]

Its genuinely quite staggering isn't it ?

"At the minute it would be ridiculous to get rid of players, especially if we can't bring any new ones in." - Michael Appleton

Just incredible head-in-the-sand stuff. How can they possibly justify turning these bids down in their current circumstances ?

I can recall us being forced to (reluctantly) sell Mark Beeney to Leeds for about £400k to stave off a winding up order from the Inland Revenue. Realistically they've got a week to raise this £1.6m, so any thoughts of turning down bids should have gone out the window.

What it it with Pompey ? They never seem to think the rules apply to them. PLEASE get this club wound up once and for all for christs sake. Its beyond a joke now.

Except that the only value to a potential buyer is as a football team. Losing players at this stage would reduce their attractiveness to a potential purchaser and reduce their overall chances of survival as an entity. Their only chance of not being wound up is by finding anew buyer.

Don't think I'm defending anything they've done, but I can see the logic in their current situation.

 

[Questions]

Any club that thinks Kitson is worth 20k a week immediately after just coming out of administration is ... well....asking for it really.

 

[bhaexpress]

The only thing that makes me sad about this is that it might cost us three points. It's impossible to feel sorry for a club that thinks that the rules don't apply to them. The fact that they are trying to woe what looks like a couple of dodgy Russians to bale them out comes as not surprise at all. As for selling a player or two, who would be interested in the majority of their overrated cast offs anyway ? Frankly Dave Kitson is never worth £20000 a week at this level and he won't get any Premiership offers unless Man City want an overpaid toilet cleaner.

 

[Daffy Duck]

Any stattos out there that could work out how it would affect other teams in the Championship if Pompey were to go tits up, and what points they would lose/gain?

 

[Gritt23]

The only thing that makes me sad about this is that it might cost us three points.

Small price to pay I reckon. I'd happily swap 3 points for Pompey being wound up. Not gonna happen though, sadly.

 

[Marshy]

potential buyers are waiting for admin surely...

 

[the wanderbus]

Except that the only value to a potential buyer is as a football team. Losing players at this stage would reduce their attractiveness to a potential purchaser and reduce their overall chances of survival as an entity. Their only chance of not being wound up is by finding anew buyer.

Don't think I'm defending anything they've done, but I can see the logic in their current situation.

excellent, they sell their players, they dont get a buyer ,they go bust.
they dont sell their players, they cant pay the taxman, they go bust....its a win win situation.

 

[Mr Blobby]

Worth a read... Turmoil Week: Portsmouth | The Two Unfortunates

 

[Dirk Gently]

excellent, they sell their players, they dont get a buyer ,they go bust.
they dont sell their players, the cant pay the taxman, they go bust....its a win win situation.

Quite! Their only option at this stage is to find a buyer prepared to soak up all the debt. Not very likely at this stage.

And it must be said how heartening it is to see BHA fans ready to rejoice in the loss of a club to its supporters - whoever they might be - because of the actions of unscrupulous owners who bled the club dry for personal gain.

Do you have an irony meter I can borrow? - I think this one is broken.

 

[Easy 10]

Except that the only value to a potential buyer is as a football team. Losing players at this stage would reduce their attractiveness to a potential purchaser and reduce their overall chances of survival as an entity. Their only chance of not being wound up is by finding anew buyer.

Don't think I'm defending anything they've done, but I can see the logic in their current situation.

Is this not just a case of a club being in denial then ?

At some point, they are going to HAVE to awaken to the fact that they are no longer in a position to employ Championship players on Championship / Premier League wages. The fanbase is dwindling, they don't have the stadium. They obviously don't have the finance. They are a 3rd division setup now just pretending they can operate in this division, and its time they made do with a squad of players that reflects that fact.

What that SHOULD mean is a complete firesale of the current squad, replacing them with kids, cast-offs, freebies, nobodies and has-beens. In other words, making do with what any other club strapped for cash at the lower end of the 3rd division would have to make do with.

 

[Deleted member 22389]

Shit so someone is going to have to find 32 million before looking at buying players.
The problem is, there are not many people who are going to give the club 32 million.

To get any of their money back there going to need to spend at least 45 million and hope they can get themself back in the premiership, but then on top of this they would need to spend even more money to get players of premiership quality.

It just goes to show what happens when you overspend. Feel sorry for Portsmouth if this is the case. I don't like seeing any club in this mess.

What I can't understand, is did any of these supporters not ask the questions when people like Crouch, Defoe where turning up at their doorstep and when they where flying high in the Premiership?

Lets go back to the beginning, How did they finance all these players in the first place?

 

[terryberry1]

Goodbye Pompey

 

[TWOCHOICEStom]

I do still find it hard to understand the lack of sympathy towards the fans of Pompey. Why did anyone give a shit about Plymouth if they care so little about Portsmouth?

 

[Green Cross Code Man]

Quite! Their only option at this stage is to find a buyer prepared to soak up all the debt. Not very likely at this stage.

And it must be said how heartening it is to see BHA fans ready to rejoice in the loss of a club to its supporters - whoever they might be - because of the actions of unscrupulous owners who bled the club dry for personal gain.

Do you have an irony meter I can borrow? - I think this one is broken.

Sad though it is that Pompey may fold,i think there is little sympathy here as for years they rode the success of premier league football, FA cups etc with no thought as to how it was all being paid for. It was generally well-known that they were vastly living above their means but their fans seemed to bury their heads in the sand. They have in recent seasons simply carried on with this mentality albeit on a smaller scale. There is also resentment of the excessive coverage given to them on the local and national press. I for one am not fond of the club but i would hate for them to fold. Maybe a few years in the conference would be good thing?

 

[narly101]

Quite! Their only option at this stage is to find a buyer prepared to soak up all the debt. Not very likely at this stage.

And it must be said how heartening it is to see BHA fans ready to rejoice in the loss of a club to its supporters - whoever they might be - because of the actions of unscrupulous owners who bled the club dry for personal gain.

Do you have an irony meter I can borrow? - I think this one is broken.

Ah, but you're forgetting the fact that we've never actually been in Administration. We've always kept our head just above the waterline, and not sought the glory days of the heady heights of the Premiership by buying players we couldn't afford. We just got f***ed over by 2 owners who wanted to sell the club for personal gain.

 

[severnside gull]

Its genuinely quite staggering isn't it ?

"At the minute it would be ridiculous to get rid of players, especially if we can't bring any new ones in." - Michael Appleton

Just incredible head-in-the-sand stuff. How can they possibly justify turning these bids down in their current circumstances ?

I can recall us being forced to (reluctantly) sell Mark Beeney to Leeds for about £400k to stave off a winding up order from the Inland Revenue. Realistically they've got a week to raise this £1.6m, so any thoughts of turning down bids should have gone out the window.

What it it with Pompey ? They never seem to think the rules apply to them. PLEASE get this club wound up once and for all for christs sake. Its beyond a joke now.

pretty much spot on unless the bid is an absolute piss take which seems doubtful as they have already been in for the pair once.

Have to say that I lost all patience and sympathy for Portsmouth when the administrator sanctioned the signing of Lawrence and Kitson at extraordinary salaries for a club in their situation.

They clearly have no intention of paying their due taxes and I think you can write off the first tranche of payments due to their last set of long suffernig creditors on the same basis. Wind 'em up!

 

[bhaexpress]

Small price to pay I reckon. I'd happily swap 3 points for Pompey being wound up. Not gonna happen though, sadly.

Quite so but you might not feel the same if we missed out on the Play Offs on goal difference.