Breaking Pompey statement

[severnside gull]

as currently stated "they are unable to continue trading"


this simply means that they are continuing to trade whilst insolvent and are once again stacking up debts which they have neither the ability nor the intention to pay.

 

[Cheshire Cat]

BBC Sport - Football - Portsmouth 'likely to close down'

Portsmouth 'likely to close down'

Portsmouth say they are likely to fold as they are unable to continue trading after negotiations with key creditor Alexandre Gaydamak broke down.

The club claim that Gaydamak demanded an upfront cash payment to allow a possible deal to go through and allow them let to exit administration.

"It appears likely that the club will now be closed down and liquidated by the administrators," said Pompey.

Earlier in October the club's latest plan to exit administration was vetoed.

 

[tonymgc]

I wonder what John Portsmouth FC Westwood will do with his life now?
I pray him & his f***ing bell don't jump on the Gus bus.

 

[HampshireSeagulls]

Not sure on this one. Appears that Gaydamak wants a lump sum up front to complete his paperwork which Pompey don't have. They have cobbled together this press release with the intention of putting pressure on Gaydamak to fall into line with the other creditors. They are hoping the FA will get involved to keep the club going, but it seems that they are falling deeper and deeper in the shit with no way of keeping their heads above water. Easy option is to blame Gaydamak and hope the FA will step in. If the FA step in, then they are in danger of opening themselves to all sorts of problems for not doing the same for other clubs. Could be the end of Pompey in their current form.

 

[HampshireSeagulls]

I wonder what John Portsmouth FC Westwood will do with his life now?
I pray him & his f***ing bell don't jump on the Gus bus.

I'll ask him, see if he can get his tats altered to Seagulls.

More likely that he will immolate himself at the gates of Fratton Park...I'll be there to take photos.

 

[BRIGHT ON Q]

I have said it before and will say it again.HOW THE f*** HAVE THEY STILL GOT PLAYERS ON 20 GRAND A WEEK?.it is just so baffling.They should be playing a youth team.

 

[Stat Brother]

Edit

 

[manilaseagull]

so if portsmouth go bust, there will be a vacancy in the Championship....

As clear leaders can we get promoted NOW??

 

[wigman]

I wonder what John Portsmouth FC Westwood will do with his life now?
I pray him & his f***ing bell don't jump on the Gus bus.

He will spend more time in his bookshop!

 

[sams dad]

I have said it before and will say it again.HOW THE f*** HAVE THEY STILL GOT PLAYERS ON 20 GRAND A WEEK?.it is just so baffling.They should be playing a youth team.

This. They are the architects of their own misfortune, and I hope the FA refuses to help them. Let them go under and start again in the Hampshire League.

 

[Ernest]

so if portsmouth go bust, there will be a vacancy in the Championship....

As clear leaders can we get promoted NOW??

 

[Hiney]

Although alot of you hate them and think that they are a joke a club, but dont you feel sorry for them at all? I do a little, wouldn't be nice to see such a popular local club go under

Popular local club my f***ing ARSE.

Imagine that you are the Managing Director of a Company that supplies Portsmouth Football Club with, say, food. You know they are a 'popular local club' so you are a bit slack on collecting your invoices because you are a fan.

One thing leads to another and you end up being owed £20,000. Enough is enough and you start to press them for payment. After a load of letters and stuff you find yourself in the pot with all the other creditors and you are now bricking yourself about getting your £20,000.

Portsmouth then go into Administration and you are forced to accept 20p in the pound on your invoice - £4,000. This isn't enough to sort YOUR company out and you are forced to go out of business, laying off your staff and having to sell your house.

In the meantime, Portsmouth Football Club are still trading as if nothing has happened and lo and behold, announce that they have signed not one, but TWO players who will EACH be earning in a WEEK, what your company was owed.

Popular local club?

f*** RIGHT OFF

 

[JBizzle]

I can't stand Pompey but hate it when a club goes to the wall for the supporters sakes.

Its an awful thing to happen, the fans did nothing to bring this on.

If they do go bust (which I doubt) then would one more team go up automatically to the Championship?

 

[Cheshire Cat]

Didn't St Johns Ambulence have a problem with unpaid bills as well? Or was that with a different club?

 

[Everest]

He will spend more time in his bookshop!

Shame Pompey didn't look after their books too.

 

[sams dad]

Popular local club my f***ing ARSE.

Imagine that you are the Managing Director of a Company that supplies Portsmouth Football Club with, say, food. You know they are a 'popular local club' so you are a bit slack on collecting your invoices because you are a fan.

One thing leads to another and you end up being owed £20,000. Enough is enough and you start to press them for payment. After a load of letters and stuff you find yourself in the pot with all the other creditors and you are now bricking yourself about getting your £20,000.

Portsmouth then go into Administration and you are forced to accept 20p in the pound on your invoice - £4,000. This isn't enough to sort YOUR company out and you are forced to go out of business, laying off your staff and having to sell your house.

In the meantime, Portsmouth Football Club are still trading as if nothing has happened and lo and behold, announce that they have signed not one, but TWO players who will EACH be earning in a WEEK, what your company was owed.

Popular local club?

f*** RIGHT OFF

Well said that man.

 

[Uwinsc]

I can't stand Pompey but hate it when a club goes to the wall for the supporters sakes.

Its an awful thing to happen, the fans did nothing to bring this on.
QUOTE]

Agree with this although I also agree with the previous poster about the companies they owe money to

 

[BRIGHT ON Q]

I can honestly see them getting in the play offs if they stay injury free under Steve Cotterill with the team they still have.They are still playing a side they can't afford and it is unfair on everyone else.

 

[JBizzle]

I can't stand Pompey but hate it when a club goes to the wall for the supporters sakes.

Its an awful thing to happen, the fans did nothing to bring this on.
QUOTE]

Agree with this although I also agree with the previous poster about the companies they owe money to

I also agree with that. Football clubs have no accountability for their debts and it hacks me right off. Didn't they owe the cub scouts too?

 

[Ernest]

All brinkmanship to me and by the time January comes around they will be paying someone £30k a week