Will Pompey fold? (merged threads)

[Working class pride]

Will Birch waive his fee?

Why should he. He is an administrator who walks into an insolvent situation. Unless an administrator can be assured his fees will be paid then nobody will be an administrator. Frankly the players have to understand that nobody has the cash to pay them and so really, there is no discussion to be had - they will not get their cash and that is I'm afraid, just tough on them as it is tough on every other creditor.

 

[Geriatric Seagull]

I just can't believe that they will be allowed to continue. How long before they go bust again?

 

[Worthingite]

What I don't understand, is why it's taken so long for these "high net worth" individuals to get involved with the PST?

Could it be that they're rather reluctant to piss good money away, and that they're just putting they're name to a bid, as supporters of the club, to give the club an extension on their current deadlines? If I were them, supporter of the club or not, I wouldn't waste my time. PFC is a black hole where money is concerned, and they aren't likely to see any return whatsoever. It says quite clearly in the BBC article that Iain McInnes was approached as far back as 1996 to invest in the club.

 

[Insel affe]

Is Friday not the deadline day ? Or will it just rumble on as always.

Also just read this.


Early Bird Deadline ExtendedThe early bird period for buying/renewing season tickets has been extended until 5pm on Friday, August 10.

Despite the current uncertainty regarding the club’s future, Pompey fans have shown good faith by already purchasing 4,500 season tickets.

The club has therefore decided to extend the early bird period to allow fans to take advantage of lower prices for as long as possible.

Joint administrator Trevor Birch said: “We’ve already had an incredible response from fans for season tickets, which demonstrates once again the strength of the club’s support.

“The atmosphere inside Fratton Park was unbelievable last term and I’m sure we’ll recreate that again for the new season.

“We want to encourage as many fans as possible through the turnstiles next season and so will keep the early bird rate for a few extra weeks. I hope that fans will continue to take advantage of the discount.”

An existing adult season ticket holder renewing at the early bird rate will pay just £13 per game and save a total of £151 on last year’s prices.

And any junior Blues fan will pay just £75 for their season ticket – that works out at just £3.26 per match.

Season tickets will go off sale from the ticket office at 5pm on Friday, July 6 and midnight on Sunday, July 8 for online and phone sales.

Please note the seats of existing season ticket holders will only be reserved until July 8.

Supporters who have bought or renewed a ticket will then get the opportunity to move seats from Tuesday, July 10 to Friday, July 13.

They can do this by coming to the Frogmore Road ticket office or by calling 0844 847 1898 (option six).

Season tickets will then go back on sale at the early bird rate from 10am on Monday, July 16, but will only be available to buy in person from the ticket office.

Existing season ticket holders whose seat has been taken by someone else will be able to purchase a new seat at the early bird renewal rate, but they will need to show their 2011/12 season ticket at the ticket office. They will then have the opportunity to pick a new seat.

Season tickets can be bought online here or by calling 0844 847 1898 (option four for renewals/option five for new sales) until midnight on Sunday, July 8.

Tickets bought online and by phone are subject to a booking fee of £2.40 and £3.60 respectively. These booking fees cover the cost of using Ticketmaster’s services. We do not add any other charges. The cost of postage will be covered by Portsmouth Football Club.

Fans can download an application form here or collect one from Fratton Park.

Season tickets will be available at general sale prices from 10am on Tuesday, August 11.

2012/13 Season Ticket Prices

There is NO Tuesday 11th August !!

 

[Icy Gull]

As long as there is a parachute payment to collect they will survive...for a while

 

[Simster]

4,500 season tickets is very good, to be fair.

 

[Icy Gull]

4,500 season tickets is very good, to be fair.

Agreed, so why can't they get it together to protest?? Really bizarre imo especially when I remember how easily motivated we were to attend protests when it looked like we might be going down the pan.

 

[Seagull over Canaryland]

The income from season tickets is ok but would suggest this can barely enable Pompey to meet day to day operating costs.

The only thing that seems to be keeping Pompey on the life support machine are the parachute payments, yet these are owed to Chainrai. Birch seems to be allowing Chainrai power of life or death over the Club. Maybe Chainrai will help them ward off the winding up order on Friday and decide to keep Pompey ticking over in the short term until the parachute payments are received. But what happens thereafter? Their other debts are still rolling up and they have no appreciable assets upon which to create a viable business plan. Will Chainrai will then wash his hands of Pompey walk away and let the Supporters Trust take their own bid forward? That seems wishful thinking, too simple and rather naive. Far too many 'ifs' and 'buts'.

Plus I'm not sure the Council will feel it is appropriate to lend public money with no guarantee of a return to a business that has already failed twice, especially in these challenging times for local government finances. Maybe some form of bridging loan to the Supporters Trust bid to help them make a more persuasive challenge to ward off Chainrai - but what would such a loan be secured against? It flies in the face of financial probity. However the Councillors will also feel the political pressure from voters to preserve their local footie club and also to protect those local businesses who are still creditors and employers. Everyone in Pompey is between a rock and a hard place. Could be even more gloomy in Pompey on Friday night.

 

[hans kraay fan club]

4,500 season tickets is very good, to be fair.

Its going to f*** over the PST if they do end up taking control, after Chanrai rides off into the sunset with whatever he can carry. They'll be forced to honour those STs, but will see none of the money, as that will all have gone to Birch and Chanrai. they'll end up trying to operat a club on gates of about 9,000, but only seeing the income of half of them.

 

[seagullsovergrimsby]

The PST bid isn't looking too good at the moment. A loan from the City Council is needed but the set of demands makes it a no goer. They want a signed legally binding agreement from the PL , Pompey and PST that the parachute money will be a guaranteed payment in August 2013. Business plan approved by the FL . I believe the dealbreaker is the PST directors having to take a personal charge on their assets to guarantee repayment of the loan. The City Council is holding a meeting to vote on ratifying any loan tomorrow.

 

[Westdene Seagull]

Bugger !

http://www.bbc.co.uk/sport/0/football/19192252

Portsmouth defender Tal Ben Haim has reached a compromise deal over his wages and has left the stricken club.
The departure of Ben Haim was the last major stumbling block in the club's attempts to avoid liquidation.
Administrator Trevor Birch had said the club would close on 10 August unless all the senior players left.
"I am pleased to announce that we have reached a compromise agreement with Tal Ben Haim, who will now leave the club," administrator Birch told BBC Sport.
Just midfielder Liam Lawrence remains but he is a target for Cardiff City, while Kanu has left but is still seeking compensation over unpaid wages. That dispute will be settled by a Football League tribunal.

Lawrence has also previously said he would come to a compromise over his wages if the club could not move him on before 10 August.
"We expect to make an announcement on Liam Lawrence's future later today [Thursday] and, whilst the situation with Kanu has not yet been resolved, we are cautiously optimistic about our prospects," added Birch.
With Ben Haim gone and just Lawrence remaining, prospective buyers Portpin (Balram Chainrai) can now start the process of bringing the club out of administration via a company voluntary arrangement (CVA).
Creditors' have already agreed Chainrai's offer of two pence in the pounds, while the Pompey Supporters Trust are also hopeful of taking controld of the club.
They will found out on Thursday if the Portsmouth City Council will loan them £1.45m to help with their £2.75m offer to Chainrai for the club.
"The progress that we have made over the past 24 hours means that there is now a much better prospect of meeting the conditions of the CVA, completing the sale of the club and avoiding liquidation," said Birch.
"As a result, we will now push on with our negotiations with Portpin, with a view to finalising a deal in the next few days.
"There is still more to do, and the club's future is not yet guaranteed. But we're in a stronger position and will now take some additional time to try to conclude matters."
Ben Haim had been on wages of £36,000 a week and his departure is a major boost to the finanically-troubled club.
He had accused administrators of trying to bully him into a compromise deal adding if the club were to fold they would have "blood on their hands".
The 30-year-old had claimed to have lost in excess of £2m since joining in 2009 but said on Tuesday they were just £300,000 apart in negotiations.

 

[Simster]

Bugger !

But with that ten point deduction and only their crap players left, division 4 looks like a strong possibility so it isn't all bad news.

 

[Westdene Seagull]

But with that ten point deduction and only their crap players left, division 4 looks like a strong possibility so it isn't all bad news.

Hmmm, yes I suppose watching them struggle could be far more entertaining

 

[severnside gull]

They are confident that they will get promoted

 

[Papa Lazarou]

But with that ten point deduction and only their crap players left, division 4 looks like a strong possibility so it isn't all bad news.

You watch - with the debt cleared (well 98% of it) they'll go out and sign some expensive players again... after all, the punishment so far has hardly been catastrophic, so why not have another go..

 

[hans kraay fan club]

You watch - with the debt cleared (well 98% of it) they'll go out and sign some expensive players again... after all, the punishment so far has hardly been catastrophic, so why not have another go..

Exactly.

They've already promised a contract to a new player, that led to him walking away from Doncaster, who said they 'couldn't compete with what was being offered'.

They have seasoned pros like Jon Harley and Izale McLoed waiting to sign. Decent (as expensive) players at that level.

If anyone thinks that Pompey will be fielding sides of youth teamers and semi-pros, then history has taught them nothing.

 

[Papa Lazarou]

Exactly.

They've already promised a contract to a new player, that led to him walking away from Doncaster, who said they 'couldn't compete with what was being offered'.

They have seasoned pros like Jon Harley and Izale McLoed waiting to sign. Decent (as expensive) players at that level.

If anyone thinks that Pompey will be fielding sides of youth teamers and semi-pros, then history has taught them nothing.

Sick isn't it?

 

[hans kraay fan club]

I'm clinging to the hope that if somehow the PST group manage to take over, then they might adopt a more sustainable approach. I really can't see them getting control though - their entire bid seems totally unrealistic.

 

[Hotchilidog]

Exactly.

They've already promised a contract to a new player, that led to him walking away from Doncaster, who said they 'couldn't compete with what was being offered'.

They have seasoned pros like Jon Harley and Izale McLoed waiting to sign. Decent (as expensive) players at that level.

If anyone thinks that Pompey will be fielding sides of youth teamers and semi-pros, then history has taught them nothing.

Sad but almost certainly true. Pompey set up for another season of disgrace after shafting creditors and filling their footballing boots with OUR money.

 

[Bold Seagull]

Exactly.

They've already promised a contract to a new player, that led to him walking away from Doncaster, who said they 'couldn't compete with what was being offered'.

They have seasoned pros like Jon Harley and Izale McLoed waiting to sign. Decent (as expensive) players at that level.

If anyone thinks that Pompey will be fielding sides of youth teamers and semi-pros, then history has taught them nothing.

More fool any club or company that doesn't demand cash up front for players, services or any other contracts associated with PFC.