Breaking Pompey statement

[Deano's Invisible Pants]

And on what grounds where the Pompey fans supposed to demonstrate against their owners. That they were attracting top players and winning the F.A cup and getting into Europe.

How do fans know that a owner is running a club into debt. They dont know the wealth of these people who take on the running of their club.

But football fans DO complain all the time, when they think money is NOT being put into their club, appearing VERY knowledgeable about the relative means of their financial backers. To non-footballing people, it looks as though we always want to have our cake and eat it, always demanding the big signings on mega wages, then we cry into our cornflakes when the money dries up later on. In short, if football fans expect to be heard, they must leave la-la land and start to take more responsibility

Don't get me wrong, this is not only a Pompey problem, but they are by far the worst example. Much as I dislike the bloke, Michel Platini's proposals to put a cap on wage bills to reflect match-day revenues makes a huge amount of sense and would ensure that footall clubs are run in a sustainable way. Sure, if someone wants to put money into a club he can invest in the youth structure, build a new stadium, subsidise ticket prices to generate bigger crowds, but he cannot just walk in and spunk millions on getting the club to the premiership before f***ing off.

 

[Danks]

Pompey out of business, what a shame!!!!! Liverpool next! others came back, Aldershot ect.....UP THE SAINTS! and ALBION.

 

[surrey jim]

Probabaly been mentioned previously in thread but if they do go out of business we would become the highest place south coast team.

 

[colinz]

I can rememember Pompey being beset with financial problems back in the seventies.

I'd like to use their current crisis to get my head around about what happened to Brighton in the late 90s.
My understanding is that those running & mismanaging the Albion, with the help of an unscrupulous lawyer, found a loop hole enabling the Goldstone Ground to be sold, so they (Archer et al) could get their badly invested money back.

If Pompey cannot meet the demands of their creditors, could it mean that Fratton Park is be up for sale.

I wish Pompey stay in business but are forced to send back Kitson and Lawrence and in January sell/free transfer the majority of the rest of their team who are also being paid to much. Then they can play the youth team for the remainder of the season, perhaps get relegated (perhaps not!) and build a sustainable club from there.

Surely Kitson & Lawrence have entered into some sort of contract that guarantees their wages, & if sold or loaned (providing they're happy to go to who ever wants them)their new club has to continue paying their high wages.

Otherwise Pompey would have to pay out their contracts. 20k a week for just 2 remaining years would mean, 2 Mill. a piece.
Which puts them in the same legal position as all the other creditors.
So who's first in line with a debenture type guarantee, once the club is cashed up & ready to be divided up.

 

[Chicken Run]

Panic over then!!

Portsmouth's administrator is hopeful creditor Alexandre Gaydamak will back down from his demands and prevent the stricken club going into liquidation.
The club claim that Gaydamak demanded an upfront cash payment to allow Pompey to exit administration and thereby endangered their ability to trade.
But administrator Andrew Andronikou is still hopeful a deal can be reached between the club and Gaydamak.
"I think common sense will prevail," Andronikou told BBC Radio 5 Live.
More to follow.

 

[BensGrandad]

Would they go out of business completely or just reform like Aldershot and start at the bottom of the pyramid or like Bournemouth continue in the league under a new name. I would hope they have to take the Aldershot route as they have achieved success if not illegally morally wrongly.

 

[Kalimantan Gull]

Didn't FANS UNITED also show how fans should be aware of crooked and stupid owners.................and to also show how to demonstrate against profligate spending that would/could lead to the demise of their clubs...?

Did FANS UNITED do nothing to expose the fact that bad 'management' would lead to ruination of their club, if the fans stood idly by....?

If Portsmouth football supporters are so stupid on masse, that they didn't see this coming....(and let's be honest, they've done f*** all about it other than cheer from the rafters about Kitson and co), it's hard to feel any sympathy for them whatsoever.

FANS UNITED, wasn't just for Brighton............it was for ALL football club supporters to show solidarity against crooked owners. Portsmouth football fans have chosen to ignore and alienate themselves against this concept

It could happen to us. Many people here think Bloom is fantastically rich, and if he started opening the check-book and signing all kinds of great players, Lua Lua for 2 million on a five-year deal, couple of million pound strikers, and we get promoted and promoted again, wages go up, then its five million quid players, cup runs, Poyet's a hero, Falmer sold out....... who here isn't enjoying the ride?

and then Bloom leaves, Poyet goes to Arsenal, the latest 8 million pound player is a flop, the football gets crap, attendances drop, relegation is followed by mediocrity, the top wage earners aren't performing - and suddenly we're 100 million in debt and in administration.

It can happen. It does happen. and I bet you wouldn't hear a whisker of discontent during the first half of that scenario.

And anyway, why should you see it coming? When you've got a multi-millionaire owner pouring money into the team, and flying high in the league, why believe it will suddenly stop? Any whispers of concern are drowned out by cries of !they love our club and will never leave, we're getting TV money, we can sell the best players if it goes wrong, parachute payments will keep us afloat!. And if you force the rich owner out, doesn't all unravel quicker anyway?

You're theoretically right - but by your logic Man City fans should be trying to get their owners out and Chelsea fans should be organising protests against Abramovic. Pull the funding, don't find a buyer and those teams will struggle to meet their bills. We just saw it with Liverpool. Perhaps Wigan and Blackburn fans should have held walk-out protests during their rise? Perhaps you agree? Perhaps I agree. If we sign Lua Lua and Healy I'll start the Bloom Out chants!!

Its all built on individuals with lots of money, its not sustainable, and for every Wigan you get a Darlington, every Fulham there's a Leicester. Don't single the Pompey fans out because they're the same as the rest of us.

 

[Mental Lental]

Story has changed......

BBC Sport - Football - Administrator Andrew Andronikou gives Portsmouth hope

That picture of pompey fans larging it sticks in the craw a bit. Will there be ongoing protests about financial mismanagement from pompey fans after they come out of administration?

Will they remember the spirit of fans united?

 

[NMH]

This play, the way it is acting out, should at least warn the league about clubs over-extending, and being toys in the hands of careless foreign owners.

If the FA were of any use, they'd squint an eye at such issues rather than just lording it up about disciplining players and managers. A player ban, vs an historic English club going to the wall? It seems they need to prioritize a bit better.

 

[BRIGHT ON Q]

I can see it now....'Pompey make play offs against all the odds,amazing scenes'.

 

[Lady Whistledown]

Licence to carry on cheating.

 

[BensGrandad]

If the judges at the HMRC hearing had balls instead of sentiment this would have all been sorted out then, as it should have been.

 

[Barrel of Fun]

Chainrai's been on Sky this morning saying if they can just get this takeover approved then they can push to get back into the Premiership this season.

 

[BensGrandad]

Hope Gaydamak sticks by wanting a cash payment up front before agreeing to hand over. If Chanrai was that interested and confident he would pay the money as it would be recouped if they get promoted to the Prem.

 

[Danny-Boy]

Maybe Spencer Trethewy fancies a second bite at saving a club

Or could be the lottery bloke has a few million to spare? But doesn't he live in Coventry, or did?

 

[Danny-Boy]

This play, the way it is acting out, should at least warn the league about clubs over-extending, and being toys in the hands of careless foreign owners.

If the FA were of any use, they'd squint an eye at such issues rather than just lording it up about disciplining players and managers. A player ban, vs an historic English club going to the wall? It seems they need to prioritize a bit better.

Exactly. They do sweet FA instead though.

 

[Danny-Boy]

It could happen to us. Many people here think Bloom is fantastically rich, and if he started opening the check-book and signing all kinds of great players, Lua Lua for 2 million on a five-year deal, couple of million pound strikers, and we get promoted and promoted again, wages go up, then its five million quid players, cup runs, Poyet's a hero, Falmer sold out....... who here isn't enjoying the ride?

and then Bloom leaves, Poyet goes to Arsenal, the latest 8 million pound player is a flop, the football gets crap, attendances drop, relegation is followed by mediocrity, the top wage earners aren't performing - and suddenly we're 100 million in debt and in administration.

It can happen. It does happen. and I bet you wouldn't hear a whisker of discontent during the first half of that scenario.

And anyway, why should you see it coming? When you've got a multi-millionaire owner pouring money into the team, and flying high in the league, why believe it will suddenly stop? Any whispers of concern are drowned out by cries of !they love our club and will never leave, we're getting TV money, we can sell the best players if it goes wrong, parachute payments will keep us afloat!. And if you force the rich owner out, doesn't all unravel quicker anyway?

You'd better hope that Tony doesn't take a dodgy 'copter ride, or crash his car. Stranger and sadder things have happened in the past.

 

[severnside gull]

At the point in August when they were clearly struggling to meet their financial committments and talking about cutting costs to live within their means, did it occur to the FL or the fans that it was a touch odd to bring in two loan players - one at £19K per week and one at £20K per week? Did anyone wonder that they still felt it appropriate to pay Peter Storrie just a little short of £200K in consultancy fees although he had left the club in disgrace?

Is it any wonder they are insolvent?

 

[sammy g]

I don't claim to know the ins and outs of Pompeys financial mess, its all very confusing.

It just seem's incredibly unfair they can go out and get Lawrence and Kitson on huge wages whilst they still owe and are not paying huge amounts to an army of creditors, particularly when other clubs seem to have suffered more for being a lot more prudent with their cash. If someone can explain to me why that is fair, then I am happy to stand corrected (apologies if this has been discussed somewhere else).

 

[Acker79]

Personally I really dont care if they get liquidated....they owe to much money to GOOD people...and I dont mean Kitson

Sol Campbell?

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

As clear leaders can we get promoted NOW??

It makes sense, both south coast clubs, it would be easy for any travel plans already in place for away games. If sussex police are busy, the hampshire police will be available...

Being reported their game against Hull, is off.

SSN today is confirming it's on.

It won't happen. Just brinkmanship.

The statement on the club site certainly screams "playing games" to me. And it was certainly my first thought.

If I need a new car but only have £500 quid to spend, do I buy a car that costs £500, or do I go to the Ferrari garage with my £12,000 a year salary and persuade the salesman to sell me a £250,000 Ferrari? And if I then somehow get the Ferrari and realise in six months that I can't in a million years afford the payments, is it reasonable to go begging to my friends to pay for it instead? And should I then sell that Ferrari to pay off the debt, or just keep driving around in it, and maybe buy a couple of £40,000 BMWs as well, just for something to play with?

Just offer them 10p in the pound. Or get your fans to pay it.

Didn't FANS UNITED also show how fans should be aware of crooked and stupid owners.................and to also show how to demonstrate against profligate spending that would/could lead to the demise of their clubs...?

Did FANS UNITED do nothing to expose the fact that bad 'management' would lead to ruination of their club, if the fans stood idly by....?

If Portsmouth football supporters are so stupid on masse, that they didn't see this coming....(and let's be honest, they've done f*** all about it other than cheer from the rafters about Kitson and co), it's hard to feel any sympathy for them whatsoever.

FANS UNITED, wasn't just for Brighton............it was for ALL football club supporters to show solidarity against crooked owners. Portsmouth football fans have chosen to ignore and alienate themselves against this concept

This. I'm pretty sure that many of the people on here gloating would go to fratton park and show solidarity in a heartbeat if the fans were trying to take action against bad owners. They haven't. They sat back ad just bleated that the whole world is against them (despite the judge okaying them screwing the taxman, despite their administrator breaking the budget to bring in kitson and lawrence, despite the FA not only okaying it, but helping them circumvent the laws of the game to bring them in, despite being in administration and facing no points deduction).