Will Pompey fold? (merged threads)

[Giraffe]

They should start again from scratch. That's what the majority of their fans want.

 

[PILTDOWN MAN]

I don't know why people want to see the administrators lose out. The job of an administrator is actually pretty horrible and they're just as much victims here as the local businesses. A friend of mine worked for an administrator once and he told me about his firsr job... he uncovered a fraud by a director, and had the job of telling the board. Within 24 hours that director had shot himself in the head, and 300 people lost their jobs.

Administrators are highly qualified people and do a horrendous job. They deserve to get paid like you and I do. They're a victim of the shambles that is Portsmouth Football Club

What crap, administrators are vultures. Before commencing they seize assets just to pay the initial cost of their involvement. Then when they liquidate a company they are first to be paid ahead of any party. This is normally a percentage of the liquidated assets. They will sell off the assets for a quick buck, wind up the rest and f**k off.

 

[ditchy]

Rather ironic , that the administrator may be the one that finally puts Pompey to the sword and gets paid for it in the process

 

[Stumpy Tim]

What crap, administrators are vultures. Before commencing they seize assets just to pay the initial cost of their involvement. Then when they liquidate a company they are first to be paid ahead of any party. This is normally a percentage of the liquidated assets. They will sell off the assets for a quick buck, wind up the rest and f**k off.

When they liquidate being the point... how many times do they liquidate? Their job is to keep companies going and find a buyer - thus keeping people in jobs. What you've mentioned is something they do 0.5% of the time.

 

[Stumpy Tim]

Disagree. Andronikou definitely has to take a share.

He was brought in because of the shambles the club was in. If PFC had been run as a proper business he wouldn't have been involved.

 

[Tom Hark Preston Park]

Pompey fold? Nope, not under any circumstances. In fact experts agree that only two things are capable of surviving a direct nuclear strike: cockroaches and Portsmouth Football Club.

 

[hans kraay fan club]

He was brought in because of the shambles the club was in. If PFC had been run as a proper business he wouldn't have been involved.

Well, obviously, yes.

The fact remains though, that his role in their continued woes is a pretty unedifying one. If HMRC, rather than the incumbent owner had been allowed to appoint an administrator, then the course of events may have been very different.

 

[severnside gull]

Rather ironic , that the administrator may be the one that finally puts Pompey to the sword and gets paid for it in the process

Keeping my fingers crossed

edit: FWIW and from memory the currrent administrator PKF was sanctioned by HMRC after rejecting the nominee of the former owner, Balram Chanra. His proposal was Andrew Andronikou, who acted for him on the last CVA and whose integrity was decidedly questionable. Andronikou was subsequently found to be advising Liam Lawrence (and possibly some of the other senior contracted players) in standing out for a better severance deal against PKF and is suspected of being closely involved with advising Chanrai in pushing PKF to cut their fees - there's none so dangerous as an accountant scorned as Shakespeare might have said.

 

[Not Andy Naylor]

Pompey fold? Nope, not under any circumstances. In fact experts agree that only two things are capable of surviving a direct nuclear strike: cockroaches and Portsmouth Football Club.

Not entirely sure those are two separate things ...

 

[The Fifth Column]

Unbelievable news from Pompey!!!

Portsmouth boss Michael Appleton has called the potential new owners of the club "unprofessional" after being told his transfer budget has been slashed.
Appleton was believed to have been promised a budget of £4m for new player acquisitions in May, but that figure has now changed to around £1.5m.

Full story here: http://www.bbc.co.uk/sport/0/football/19244057


I am utterly speechless!

 

[Rich Suvner]

Lucky he has so much

 

[Ernest]

Wonder how long he will stick around ?

 

[Superphil]

f***ing hell, how many teams in League one will have nothing to spend on players this season? Like we used to, 'sake, this guy is taking the piss.

 

[The Fifth Column]

They are in admin, offering a pittance in a CVA and yet they are already talking about budgets in the millions of pounds for new players etc and so the cycle continues whilst the FA do FA.

 

[Westdene Seagull]

Portsmouth boss Michael Appleton has called the potential new owners of the club "unprofessional" after being told his transfer budget has been slashed.
Appleton was believed to have been promised a budget of £4m for new player acquisitions in May, but that figure has now changed to around £1.5m.
"It's slightly unprofessional," Appleton told BBC Radio Solent.

"I'm not pleased about it but what can I do about it? I can't do anything about it but get on with it."
Portsmouth are currently in administration with Balram Chainrai in the process of taking control of the League One club.
On Friday, Liam Lawrence became the last senior player to leave the club and Appleton has been waiting patiently to start bringing new faces in.
He says he already has several new faces lined up having played triallists in pre-season, but believes those plans will now to be scrapped having had his budget cut by around 60%.
"It's not an ideal situation," Appleton continued. "I thought I would have 20 players going on the pre-season tour to Spain so I could get the team organised.
"But here we are with a day to go and I haven't got anyone.
"I have been recruiting all summer, working on the basis that the budget was a certain amount. What you do is get the best 20 players you feel can fit that budget.
"If the budget is what is being reported at the minute then it makes the job very, very difficult. Those players I've recruited, a lot of them I won't be able to sign because we won't be able to afford them.
"The problem you've then got is trying to find players to fit the new budget. All the best players will be gone and all you're left with are players who aren't good enough for that level."
Appleton has urged Chainrai to meet with him and revealed he has not been involved in the decision over the player budget.

"The most important thing in any business is dialogue between the people that count and I'd like to think at some point the manager of a football club will have a say on what happens," he said.
"It's difficult and has made my life 10 times harder. It's not as if I needed it to be any harder."
Pompey travel to Plymouth in the League Cup for their first competitive game of the season on Tuesday and Appleton is set to field a youth team.
Administrator Trevor Birch says everything is being done to ensure they can field a team at Home Park.
"I realise that many supporters are concerned about the size of the squad ahead of the start of the new season," Birch said in a statement.
"I've been working with Michael Appleton and the coaches to ensure that we have enough players to start the campaign, regardless of what happens off the pitch over the next few days.
"If a new owner is not in place shortly, then we will use a combination of players from the development squad and players signed on non-contracts [effectively short-term deals].
"We're also talking to the Football League to see if there's any additional support that they can give us until the ownership situation is resolved."

I have to say I do feel some sympathy for Appleton - he's been very loyal and has constantly been shat on.

The last sentence is interesting - what are they hoping the league can do ? Allow them to break the rules ? AGAIN !

 

[Hotchilidog]

What did he expect? They haven't even got 1.5m to chuck around.

 

[Green Cross Code Man]

They are an embarrassment to football.

 

[Easy 10]

"If the budget is what is being reported at the minute (£1.5m) then it makes the job very, very difficult. Those players I've recruited, a lot of them I won't be able to sign because we won't be able to afford them.

He does actually KNOW they're in administration....right ?

f*** me.

 

[Giraffe]

Time to start again. They are just a joke now.

 

[Jack Daniels]

Anyone still want to do fans united for these jokers?