Pompey seem to be in a tad of bother

[severnside gull]

i dont see Pompey existing Tuesday.

If they go into administration before Tuesday the winding-up hearing will not take place.....it's now pretty much their last hope but obviously it gives them the option to sell with the new owners facing a vastly reduced debt and presumably with money left over to buy their way back to promotion.

Disgraceful but will the FL and Premier Leaugues have the balls to act?.............................lon current showing, almost certainly not

 

[severnside gull]

Amongst all the crap of who to blame how come Peter Storrie never gets mentioned?
I can't believe this guy would still be employed by an honest company

 

[BensGrandad]

A spokesman for Chanrai (sp) the owner virtually said that if they are wound up that is the end of them but if they go into administration it will make them a much better proposition for somebody to buy them fairly cheaply and rebuild. All he is interested in is getting his money back , he is not interested in Portsmouth FC. So they lose 9 points and are relegated, which they probably would be anyway, then start off next season with a kitty of about £26m. which should get them promoted again. Scandalous time for the Premier League and Football League to get together and sort this out and this not because its Pompey but should be done to protect every club in the leagues.

 

[Bevendean Hillbilly]

A spokesman for Chanrai (sp) the owner virtually said that if they are wound up that is the end of them but if they go into administration it will make them a much better proposition for somebody to buy them fairly cheaply and rebuild. All he is interested in is getting his money back , he is not interested in Portsmouth FC. So they lose 9 points and are relegated, which they probably would be anyway, then start off next season with a kitty of about £26m. which should get them promoted again. Scandalous time for the Premier League and Football League to get together and sort this out and this not because its Pompey but should be done to protect every club in the leagues.

If and when that happens it would be a f***ing disgrace of epic proportions.

 

[sten_super]

One point possibly worth considering; if Pompey are in administration when they are relegated, will the Football League admit them? Portsmouth are currently not a member club of the FL, so their case is different to that of previously-punished clubs. I don't know what the rules of admittance are but surely there must be some guard against these kinds of clubs?

 

[Scoffers]

One point possibly worth considering; if Pompey are in administration when they are relegated, will the Football League admit them? Portsmouth are currently not a member club of the FL, so their case is different to that of previously-punished clubs. I don't know what the rules of admittance are but surely there must be some guard against these kinds of clubs?

I'm sure the Blue Square Premier would have them

 

[sten_super]

I'm sure the Blue Square Premier would have them

Ironically enough the conference have a lot stricter rules than the FL when it comes to clubs being insolvent; quite a few teams have been refused entry to the conference in recent years due to dodgy finances.

 

[aftershavedave]

A spokesman for Chanrai (sp) the owner virtually said that if they are wound up that is the end of them but if they go into administration it will make them a much better proposition for somebody to buy them fairly cheaply and rebuild. All he is interested in is getting his money back , he is not interested in Portsmouth FC. So they lose 9 points and are relegated, which they probably would be anyway, then start off next season with a kitty of about £26m. which should get them promoted again. Scandalous time for the Premier League and Football League to get together and sort this out and this not because its Pompey but should be done to protect every club in the leagues.

i heard the same thing on radio 4 today from the crystal palace administrator, talking about pompey. shocking isn't it

 

[Kinky Gerbil]

It's the premiership

Because other clubs outside the Premiership Havent done this recently....

 

[Tony Meolas Loan Spell]

Is it cheating? Well not in my book because thems the rules. Like MPs expenses.

Morally its wrong...but thats about it.

 

[severnside gull]

Is it cheating? Well not in my book because thems the rules. Like MPs expenses.

Morally its wrong...but thats about it.

good point

no less disgraceful though

 

[BensGrandad]

Is it cheating? Well not in my book because thems the rules. Like MPs expenses.

Morally its wrong...but thats about it.

Rules are made to benefit the organisation making them so it is time to change the rules.

It would be difficult to get Chairmen to agree to a change that would bring in stricter controls but could the Prem and FL not be forced to change them based on the fact that it is illegal to trade while insolvent, which is the law of the land, and any organisation cannot have a rule that permits their members to break the law.

 

[Easy 10]

Once they are relegated, Pompey are due a cash windfall of £11.2m a year for the next 2 years in the form of 'parachute payments' from the FAPL. Presumably that will be factored in to any CVA they manage to get in the event of them not being wound up ?

 

[Dick Knights Mumm]

Once they are relegated, Pompey are due a cash windfall of £11.2m a year for the next 2 years in the form of 'parachute payments' from the FAPL. Presumably that will be factored in to any CVA they manage to get in the event of them not being wound up ?

If they manage to get those payments - and the HMRC do not get paid in full then something is seriously amiss.

 

[Simster]

I thought I heard a snippet on the radio this morning saying Pompey would start in the Championship on -20 (minus 20) points.

Found a Guardian article about it - http://www.guardian.co.uk/football/2010/feb/23/portsmouth-administration-points-deduction

This would be f***ing smashing.

Lets see how many of those media twats can be heard talking about those "marvellous fans" next season when there are only 11,134 rattling around inside their shed of a ground.

 

[Marshy]

Once they are relegated, Pompey are due a cash windfall of £11.2m a year for the next 2 years in the form of 'parachute payments' from the FAPL. Presumably that will be factored in to any CVA they manage to get in the event of them not being wound up ?

You would seriously hope so wouldnt you....

 

[beorhthelm]

Which would be a disgrace.

thats what happend at Leeds. but they had, in retrospect, set up the ownership and debt such that they could out vote the HMRC. I really dont think Portsmouth has been that organised, lurching from crisis to crisis. would they have gone for administration earlier?

If they go into administration before Tuesday the winding-up hearing will not take place.....it's now pretty much their last hope but obviously it gives them the option to sell with the new owners facing a vastly reduced debt and presumably with money left over to buy their way back to promotion.

Disgraceful but will the FL and Premier Leaugues have the balls to act?.............................lon current showing, almost certainly not

Does moving to administration automatically postpone the winding up petition? im not sure it does, baring in mind that it has already been heard and the court said they considered the company to be insolvent. How will administration change their balance sheet, they have the same assets and costs as now, so they'll be in the same position. other than sell all the players at reduced rates, i cant see what an administrator can do. With the transfer windoin place and reportedly high wages, thats going nowhere anyway.

 

[Cadiz Seagull]

Evidently going into administration on Friday if no buyer comes in before them.

Who in his right mind would buy them before Friday? A buyer coming in now will have to take on the existing debt. OK they will lose points for going into admin but they are going down anyway, so why not wait till Friday, wipe out the debt, take the points deduction but buy them at a knock down price from the accountants?

The only downside of this for a buyer is if he thinks they can avoid relegation and stay in the Premiership.

 

[CHAPPERS]

I feel I must apologise to all parents on NSC that let their kids read the board. I didn't realise this thread would continue so long with such a nasty profanity in the title.

 

[Dick Knights Mumm]

I feel I must apologise to all parents on NSC that let their kids read the board. I didn't realise this thread would continue so long with such a nasty profanity in the title.

It is ok. He is 19.