Will Pompey fold? (merged threads)

[seagullsovergrimsby]

Luton weren’t in administration. Their point’s deduction was for financial irregularities

They were docked 30 points , 10 for financial irregularities and 20 for the admin (3rd time).

 

[bob monkhouse]

Portsmouth sign goalkeeper Simon Eastwood

Portsmouth have signed goalkeeper Simon Eastwood on non-contract terms.The 23-year-old is eligible to play in Tuesday League Cup clash against Plymouth at Home Park.Eastwood has been training with Pompey for the past month and featured in friendlies against Gibraltar, Bolton and AFC Wimbledon.He began at Huddersfield, where he had loans at Woking and Bradford, moved to Oxford and spent last season at non-league Halifax.Portsmouth manager Michael Appleton was delighted to be able to bring in a new face having seen*all his senior players leave over the summer because of the financial turmoil at the club.The club are currently in administration and narrowly avoided liquidation last week. They will start the new season on minus 10 points."It's on a non-contract basis, so it could be ripped up at any time, but hopefully in the future we'll be looking at giving him a contract," said Appleton.Pompey are expected to field a youth team against Plymouth on Tuesday with Eastwood and 35-year-old assistant manager Ashley Westwood the exceptions to this.

 

[El Presidente]

I think the £1.5 million is the playing budget INCLUDING WAGES for the season.

In which case, he will struggle.

 

[Landgull]

I'm with HKFC on this, £1.5m is very low; if you look at the Albion's published accounts the total wage/salary bill has been greater than £3.5m every year since 2005. Normally it's been over £4m.

Then they should drop to the conference a level they can financially cope with.

 

[Barnham Seagull]

Can't see what there issue is.

£1.5m budget for wages in league 1 is not the end of the world, bigger than a few and good enough for league 2.

25 first teamers at an average of £63'000 each is fine for a club that has ran up £150m of debt.

 

[Pinkie Brown]

Portsmouth sign goalkeeper Simon Eastwood

Portsmouth have signed goalkeeper Simon Eastwood on non-contract terms.The 23-year-old is eligible to play in Tuesday League Cup clash against Plymouth at Home Park.Eastwood has been training with Pompey for the past month and featured in friendlies against Gibraltar, Bolton and AFC Wimbledon.He began at Huddersfield, where he had loans at Woking and Bradford, moved to Oxford and spent last season at non-league Halifax.Portsmouth manager Michael Appleton was delighted to be able to bring in a new face having seen*all his senior players leave over the summer because of the financial turmoil at the club.The club are currently in administration and narrowly avoided liquidation last week. They will start the new season on minus 10 points."It's on a non-contract basis, so it could be ripped up at any time, but hopefully in the future we'll be looking at giving him a contract," said Appleton.Pompey are expected to field a youth team against Plymouth on Tuesday with Eastwood and 35-year-old assistant manager Ashley Westwood the exceptions to this.

Will he be playing in a pair of chequered shorts about three sizes too small plus running around the pitch waving a bell?

 

[Ernest]

Plymouth 1-0 Pompey HT

 

[Ernest]

Full time 3-0 to Argyle, told you 10/11 was a cracking bet

 

[Worthingite]

The fact that Plymouth dicked pitiful Pompey is the only silver lining to a shit night!!

 

[MattBackHome]

Silver lining for Pompey: Their kit looks really good without a main sponsor.

 

[seagullsovergrimsby]

Never mind that: they were seriously after Billy Paynter

And lost out in the bidding FRENZY to Doncaster Rovers

Never mind that: they were seriously after Peter Ramage

And lost out in the bidding FRENZY to Crystal Palace

 

[seagullsovergrimsby]

Silver lining for Pompey: Their kit looks really good without a main sponsor.

Hasn't Chainrai sorted out that shirt deal with Cash Converters yet ?

 

[hans kraay fan club]

SSN reporting that Chanrai has 'withdrawn his bid'.

 

[ROSM]

SSN reporting that Chanrai has 'withdrawn his bid'.

Have SSN put up an old caption by mistake?

Chanrai withdraws more often than a devout catholic on an 18-30 holiday

 

[slinky]

does that mean the PST will get control now? or will they fold?

 

[Falkor]

0837:
FOOTBALL
Portsmouth administrator Trevor Birch tells the BBC he is unaware of reports that Balu Chainrai has withdrawn his bid to buy the club.

 

[SurreySeagulls]

Piece from Sky

"Unfortunately, our efforts to save the club once more from extinction have hit a wall of rejection and lacking co-operation from the administrator and other interested parties.

"Unfortunately, our efforts to save the club once more from extinction have hit a wall of rejection and lacking co-operation from the administrator and other interested parties."
Balu Chainrai Quotes

"We are not the ones who have caused the club to collapse and we are not the ones to choose PKF as administrators .

"As history has recorded, we sold the club over a year ago after saving it from liquidation and unfortunately found ourselves again fighting to try and save the club from another liquidation.

"Through this administration process over the last six months we have always had the club's best interest in mind - unlike many parties who were involved in the process.

"We repeatedly encouraged the administrator to find a new, willing and able buyer to take over the club - unfortunately he was unsuccessful in this job and couldn't find a buyer despite his promises!!

"Later he approached us to be his safety net to save the club as he couldn't find a buyer. We agreed in the effort to avoid liquidation of the club.

Lack of support

"At this moment in time, we feel that:

- the negative criticism and lack of support for our takeover by the fans of this club.

- the fact that the administrators do not want to compromise on their unrealistic fees.

- the fact that suddenly the club has received additional huge football creditors' claims from former players and management such as Hughes, Brown, Kanu, and Lampitt and more.

- the fact that all the money from the parachute payment which were supposed to carry the club for the next two seasons was spent and committed by the administrator on players' compromises and fees : total £12million.

- the fact that the Football League has decided to deduct 10 points for no reasonable reason and by its decisions didn't show any willingness to help in saving this troubled club.

- the fact that the supporters' trust which we met and we voiced our support for their takeover bid could not raise the funds to satisfy the administrator or the Football League and the loan that was promised them by the council had unrealistic terms.

- the fact that the club did not get any real support from any official they were all very good at creating headlines.

- and finally the last straw yesterday afternoon the manager told the press before the season starts that he is sure of another relegation.

"All of these facts have left us in a position that we no longer want to fight this battle, we have zero support to save the club therefore we formally withdraw our bid and our honest attempt at saving the club. We will sleep well knowing we did our utmost to save the club.

"We welcome and will assist anyone, including the supporters trust to try and save the club in the coming days."

 

[Driver8]

Piece from Sky

"Unfortunately, our efforts to save the club once more from extinction have hit a wall of rejection and lacking co-operation from the administrator and other interested parties.

"Unfortunately, our efforts to save the club once more from extinction have hit a wall of rejection and lacking co-operation from the administrator and other interested parties."
Balu Chainrai Quotes

"We are not the ones who have caused the club to collapse and we are not the ones to choose PKF as administrators .

"As history has recorded, we sold the club over a year ago after saving it from liquidation and unfortunately found ourselves again fighting to try and save the club from another liquidation.

"Through this administration process over the last six months we have always had the club's best interest in mind - unlike many parties who were involved in the process.

"We repeatedly encouraged the administrator to find a new, willing and able buyer to take over the club - unfortunately he was unsuccessful in this job and couldn't find a buyer despite his promises!!

"Later he approached us to be his safety net to save the club as he couldn't find a buyer. We agreed in the effort to avoid liquidation of the club.

Lack of support

"At this moment in time, we feel that:

- the negative criticism and lack of support for our takeover by the fans of this club.

- the fact that the administrators do not want to compromise on their unrealistic fees.

- the fact that suddenly the club has received additional huge football creditors' claims from former players and management such as Hughes, Brown, Kanu, and Lampitt and more.

- the fact that all the money from the parachute payment which were supposed to carry the club for the next two seasons was spent and committed by the administrator on players' compromises and fees : total £12million.

- the fact that the Football League has decided to deduct 10 points for no reasonable reason and by its decisions didn't show any willingness to help in saving this troubled club.

- the fact that the supporters' trust which we met and we voiced our support for their takeover bid could not raise the funds to satisfy the administrator or the Football League and the loan that was promised them by the council had unrealistic terms.

- the fact that the club did not get any real support from any official they were all very good at creating headlines.

- and finally the last straw yesterday afternoon the manager told the press before the season starts that he is sure of another relegation.

"All of these facts have left us in a position that we no longer want to fight this battle, we have zero support to save the club therefore we formally withdraw our bid and our honest attempt at saving the club. We will sleep well knowing we did our utmost to save the club.

"We welcome and will assist anyone, including the supporters trust to try and save the club in the coming days."

Oh well, never mind.

 

[Westdene Seagull]

I have to laugh ! Bet it's brinkmanship though.

 

[hans kraay fan club]

I have to laugh ! Bet it's brinkmanship though.

I reckon he means it, to be honest.

But only because of this part:

- the fact that all the money from the parachute payment which were supposed to carry the club for the next two seasons was spent and committed by the administrator on players' compromises and fees : total £12million.

If that part is true, there is ZERO reason for Chanrai to hang around. He's not an idiot, who's going to throw good money after bad.