seagullsovergrimsby
#cpfctinpotclub
Dean Saunders went to Oxford United in 1987 for a pittance as we needed the money to pay the taxman.
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Pompey seem to be in a tad of bother
- Thread starter CHAPPERS
- Start date
Dean Saunders went to Oxford United in 1987 for a pittance as we needed the money to pay the taxman.
Gordon the Gopher
Active member
Q: Why has this happened now?
A: Because Pompey, and all its owners and ex-owners, have run out of more attractive options. The "next idiot" production line is on the blink.
It takes weeks to buy something as complicated as a football club (and that is just the solvent ones) as any prospective new owner would want to know exactly what he or she is buying. In Pompey's case, it is an indebted Championship team in a shabby stadium with almost no corporate seating, a battered credit rating and a murky recent ownership structure. Do not be fooled by talk of talks.
Chainrai, who became a secured creditor when he loaned former owner Ali Al Faraj £17m mortgaged against the ground, has filed form 2.5b with the high court, an intention to appoint an administrator. He has done this because he needs to give two full working days' notice to the other secured creditors (the banks, Barclays and Coutts) as their debts are senior to his in terms of chronology.
Given a choice of purgatory or hell, Chainrai has opted for purgatory. His hand has been forced by HM Revenue and Customs (HMRC). Whereas most other "crisis clubs" have had an element of control about their move into administration, Pompey have been coerced by HMRC's winding-up petition, which was set to be heard again on Monday but should now be dismissed either on Friday or Monday itself.
A: Because Pompey, and all its owners and ex-owners, have run out of more attractive options. The "next idiot" production line is on the blink.
It takes weeks to buy something as complicated as a football club (and that is just the solvent ones) as any prospective new owner would want to know exactly what he or she is buying. In Pompey's case, it is an indebted Championship team in a shabby stadium with almost no corporate seating, a battered credit rating and a murky recent ownership structure. Do not be fooled by talk of talks.
Chainrai, who became a secured creditor when he loaned former owner Ali Al Faraj £17m mortgaged against the ground, has filed form 2.5b with the high court, an intention to appoint an administrator. He has done this because he needs to give two full working days' notice to the other secured creditors (the banks, Barclays and Coutts) as their debts are senior to his in terms of chronology.
Given a choice of purgatory or hell, Chainrai has opted for purgatory. His hand has been forced by HM Revenue and Customs (HMRC). Whereas most other "crisis clubs" have had an element of control about their move into administration, Pompey have been coerced by HMRC's winding-up petition, which was set to be heard again on Monday but should now be dismissed either on Friday or Monday itself.
Real are pretty much Bankrolled by the King
clapham_gull
Legacy Fan
- Aug 20, 2003
- 25,877
One major difference in Spain is that the clubs individually control television rights.
I've used the stat on here a few times, but if Manchester United were able to do that, they could potentially (with the right infrastructure, including streamed games) earn as much money in 2 or 3 games as they do for a whole season currently.
The actual deal hasn't been published, but it's rumoured their television money is double that of Manchester United and the most generous football television deal in the world.
In real terms, it costs them less to buy and pay players than United because of favourable Spanish tax legislation.
Because of their ownership structure, they are also run on a "non profit" basis.
Real Madrid and Barcelona are also important politically that no-one is going to risk their own reputation by calling in a debt. There are the real big boys of European football.
Interesting Read
How Real Madrid can afford to buy Kak | European Football - Times Online
Last edited:
BensGrandad
New member
I am sure that I read somewhere that Real Madrids debt is written off each year by Santander Bank so all of you people with what was Abbey accounts and paying bank charges are helping to pay for Real Madrid. I think that may include Barcelona as well but not sure like Carling sponsored both Rangers and Celtic.
Southover Street Seagull
Well-known member
The chap mentioned that about Saunders, but he also mentioned that we went into administration in the early nineties, which I couldn't remember!
BensGrandad
New member
I can't remember us ever actually going into administration although we did survive a couple of winding up orders.
Easy 10
Brain dead MUG SHEEP
If anything the early 90's was the "calm before the storm". We were playing in the 2nd tier, we had the Playoff Final in 1991. Its only after relegation in 1992 that things started on their horrendous downward spiral towards the basement division and eventual homelessness in 1997.
Despite everything thats happened though, the club has NEVER had to bring in the administrators. A fact I find myself moderately proud of.
Southover Street Seagull
Well-known member
Agreed we have been homeless since 1997, been promoted to the Championship and never been in admin, something to be very proud of.
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,023
yes indeed. its one of the potential problems if UEFA go in heavy handed with regulations, not accounting for the different corporate governance between countries.
Marshy
Well-known member
Your right there screwed regardless going on that.
seagullsovergrimsby
#cpfctinpotclub
We never went into administration but we came very close with winding up orders that would have seen the club fold.
Woodchip
It's all about the bikes
And yet the great knowledge of Wikipedia and gfdb.com says otherwise
http://www.gfdb.com/Club.1492.Brighton---Hove-Albion.aspx
This has been copy and pasted one way or the other.
http://www.gfdb.com/Club.1492.Brighton---Hove-Albion.aspx
This has been copy and pasted one way or the other.
seagullsovergrimsby
#cpfctinpotclub
Can the High Court refuse the application for Pompey to go into administration ?
seagullsovergrimsby
#cpfctinpotclub
Is Russell Slade our new manager
Easy 10
Brain dead MUG SHEEP
PRICELESS
BBC SPORT | Football | My Club | Portsmouth | Redknapp pledges to spend wisely
Redknapp pledges to spend wisely
Last Updated: Tuesday, 3 January 2006, 15:17 GMT
Portsmouth manager Harry Redknapp has vowed not to waste any money in the transfer market if he receives a windfall from Alexandre Gaydamak.
The businessman - son of a Russian billionaire - is to become joint owner of Portsmouth after coming to a deal with chairman Milan Mandaric.
Redknapp said: "I am hoping to get a bit of money but will have to wait and see, although he sounds quite wealthy.
"But I certainly will not pay over the top for players."
He added: "I will not give other clubs the pleasure of taking our money because if I think someone is worth £2m, I am not going to pay £3m.
"Maybe some people will ask for more, but I still think there are clubs who want to sell, and so you have to target those players if you can.
"Players have got their values. We just have to make sure we pick up the right ones."
Redknapp has been linked with a move for Auxerre's Zimbabwean forward Mwaruwari Benjani but said: "He is a player we have spoken about, but as far as I am aware we have not made a bid."
The Pompey boss says he knew nothing about Gaydamak's arrival until he spoke to Mandaric on Monday, but accepts his job is safe.
"When Milan spoke with me and told me about this guy, I never asked for any assurances," Redknapp said.
"The chairman just said 'I am looking to do something with someone Harry. It is going to be good for the club, they desperately want you and this, that and the other', so I said 'that is fine'.
"It sounds as if he will be exciting for the club."
French national Gaydamak, 30, whose father is Arcadi Gaydamak, will be an equal partner in the club.
Financier Arcadi Gaydamak already owns Israeli club Beitar Jerusalem.
But no financial details regarding the new partnership have been announced.
"The pair of them will work together closely to further develop all aspects of Portsmouth Football Club, Pompey stadium, Pompey village as well as a modern training facility," said a club statement.
As with all incoming directors, Gaydamak will be subject to the Football Association's 'fit and proper person test' so until he passes that, the deal cannot officially go through.
But assuming he passes, he is expected to take on more of a hands-on role at Fratton Park, with Mandaric stepping back to spend more time with his family.
Despite owning Beitar, Alexandre's father Arcadi has lived in Moscow since 2002.
The Beitar owner is involved in various industrial enterprises in Russia and owns a medium-sized bank and brokerage company.
In 2000 Paris magistrates issued an arrest warrant for him for questioning over an alleged arms-for-oil deal with Angola in the early 1990s.
Arcadi Gaydamak insisted his involvement in the deal was as part of a legitimate agreement between the governments of Russia and Angola.
Jean-Christophe Mitterand, the son of former French president Francois Mitterand, was given a 30-month suspended sentence for his involvement in the affair.
BBC SPORT | Football | My Club | Portsmouth | Redknapp pledges to spend wisely
Redknapp pledges to spend wisely
Last Updated: Tuesday, 3 January 2006, 15:17 GMT
Portsmouth manager Harry Redknapp has vowed not to waste any money in the transfer market if he receives a windfall from Alexandre Gaydamak.
The businessman - son of a Russian billionaire - is to become joint owner of Portsmouth after coming to a deal with chairman Milan Mandaric.
Redknapp said: "I am hoping to get a bit of money but will have to wait and see, although he sounds quite wealthy.
"But I certainly will not pay over the top for players."
He added: "I will not give other clubs the pleasure of taking our money because if I think someone is worth £2m, I am not going to pay £3m.
"Maybe some people will ask for more, but I still think there are clubs who want to sell, and so you have to target those players if you can.
"Players have got their values. We just have to make sure we pick up the right ones."
Redknapp has been linked with a move for Auxerre's Zimbabwean forward Mwaruwari Benjani but said: "He is a player we have spoken about, but as far as I am aware we have not made a bid."
The Pompey boss says he knew nothing about Gaydamak's arrival until he spoke to Mandaric on Monday, but accepts his job is safe.
"When Milan spoke with me and told me about this guy, I never asked for any assurances," Redknapp said.
"The chairman just said 'I am looking to do something with someone Harry. It is going to be good for the club, they desperately want you and this, that and the other', so I said 'that is fine'.
"It sounds as if he will be exciting for the club."
French national Gaydamak, 30, whose father is Arcadi Gaydamak, will be an equal partner in the club.
Financier Arcadi Gaydamak already owns Israeli club Beitar Jerusalem.
But no financial details regarding the new partnership have been announced.
"The pair of them will work together closely to further develop all aspects of Portsmouth Football Club, Pompey stadium, Pompey village as well as a modern training facility," said a club statement.
As with all incoming directors, Gaydamak will be subject to the Football Association's 'fit and proper person test' so until he passes that, the deal cannot officially go through.
But assuming he passes, he is expected to take on more of a hands-on role at Fratton Park, with Mandaric stepping back to spend more time with his family.
Despite owning Beitar, Alexandre's father Arcadi has lived in Moscow since 2002.
The Beitar owner is involved in various industrial enterprises in Russia and owns a medium-sized bank and brokerage company.
In 2000 Paris magistrates issued an arrest warrant for him for questioning over an alleged arms-for-oil deal with Angola in the early 1990s.
Arcadi Gaydamak insisted his involvement in the deal was as part of a legitimate agreement between the governments of Russia and Angola.
Jean-Christophe Mitterand, the son of former French president Francois Mitterand, was given a 30-month suspended sentence for his involvement in the affair.
Easy 10
Brain dead MUG SHEEP
This is fun.
BBC SPORT | Football | My Club | Portsmouth | Portsmouth outline stadium plan
Portsmouth outline stadium plan
Page last updated at 10:02 GMT, Wednesday, 18 June 2008 11:02 UK
Portsmouth are set to leave Fratton Park and move to a new 36,000-capacity stadium overlooking Portsmouth harbour.
If the FA Cup holders receive the necessary planning consent, work will start on the new ground next year.
The new stadium, designed by the firm responsible for Beijing's Olympic Stadium, will be on an ex-landfill site by the M275 and M27 motorway junction.
"We only have one word to describe this stadium - perfection," said Portsmouth chief executive Peter Storrie.
"The club will be playing a big part in the regeneration of the city and our fans will have the very best in terms of facilities and amenities, as well as an excellent viewing experience.
"Portsmouth Football Club has moved into a new era with the backing of owner Alexandre Gaydamak and these are very exciting times for the club, both on and off the field."
I think we can now quite safely replace the "Walter Mitty" type with the "Peter Storrie" type.
BBC SPORT | Football | My Club | Portsmouth | Portsmouth outline stadium plan
Portsmouth outline stadium plan
Page last updated at 10:02 GMT, Wednesday, 18 June 2008 11:02 UK
Portsmouth are set to leave Fratton Park and move to a new 36,000-capacity stadium overlooking Portsmouth harbour.
If the FA Cup holders receive the necessary planning consent, work will start on the new ground next year.
The new stadium, designed by the firm responsible for Beijing's Olympic Stadium, will be on an ex-landfill site by the M275 and M27 motorway junction.
"We only have one word to describe this stadium - perfection," said Portsmouth chief executive Peter Storrie.
"The club will be playing a big part in the regeneration of the city and our fans will have the very best in terms of facilities and amenities, as well as an excellent viewing experience.
"Portsmouth Football Club has moved into a new era with the backing of owner Alexandre Gaydamak and these are very exciting times for the club, both on and off the field."
I think we can now quite safely replace the "Walter Mitty" type with the "Peter Storrie" type.
- Jul 7, 2003
- 47,641
The Guardian today suggests that, assuming Pompey go into adminstration this season and get relegated, they will probably be deducted 20points by the Football League at the start of next season as it's unlikely they will have a CVA in place due to their enormous debts.
It just keeps getting better
It just keeps getting better
Gully
Monkey in a seagull suit.
So, it looks like the administrators will move in and try to keep the club viable, surely this will involve disposing of all saleable assets for the best price...though the transfer ban looks like scuppering any attempt to offload the players.
Where on Earth do they start?
Where on Earth do they start?