Will we even have a game against Pompey next week...?

[Seagull73]

BBC Sport - Portsmouths parachute payments to go to Sacha Gaydamak

We knew that things were bad, but sh*t this is really getting close...

 

[stonski]

As you say this is really getting close.

 

[Driver8]

Hope they have paid up front for their tickets.

 

[Hillian1]

Oh dear, what a pity, never mind.

 

[seven stands]

So they only got a ten point deduction last time as they agreed a cva which has now failed, can they have the extra points taken now?

 

[Cheggers]

What happens to our six points if Pompey fold?

 

[Joe Gatting's Dad]

They go!

 

[Papa Lazarou]

What happens to our six points if Pompey fold?

Depends on when they fold. If it's just b4 the end of the season they may award 3 points to all clubs they haven't played or remove their scores entirely; in which case we lose our points.

 

[Ernest]

Should be ok next week but whether they last the season is another matter

 

[Braders]

Guys , this is PORTSMOUTH - they always seem to get an 11th hour bid to save them!

 

[D Block blue]

These words are probably not what any pompey fan or player wanted to hear,

"It puts another hole in my cash flow, I'm very worried. I need to turn to other revenue-raising issues and projects but I'm not confident." very worrying time for portsmouth as a whole.

 

[Kent Seagull]

Bloody hell, it's dire. Because they still haven't paid the creditors under the last CVA, creditors will end up getting 4p in the pound rather than the original 20p. It stinks. How the hell were they ever allowed to spunk more money on players before they paid off the debts?

 

[drew]

I think the more disturbing point is that if we beat them next week, and they then go out of business, don't we lose 6pts. How many teams above us are in the same situation?

 

[yoda559]

maybe they should have learnt from the first time

 

[Papa Lazarou]

If they are defaulting on the original CVA won't they get a additional points deduction?

 

[Pavilionaire]

I agree. This situation looks dire. No investor will be able to pay Championship / League One wages and the ground and infrastructure needs radical overhaul. What a fall from grace!

Although I don't blame him one moment for the situation it would be ironic if they went into liquidation on the day Harry Redknapp is appointed England manager.

 

[severnside gull]

Portsmouth will last out the season and beyond.

The issue is that their last CVA agreed to pay their debts, one of which was a £10m football (and therefore prioritised) debt to their former owner. Now Gaydamark has since een revealed to be somewhat less than honest but the debt was real and should be honoured (whether ahead of other, non football, debts iis another matter subject to challenge by HMRC). The CVA agreement arranged for this debt to be paid via the PL parachute payments.

Now whilst I totally understand why the new administrator wants and indeed needs to get his hands on that money, it appears to be a legally binding committment which he may challenge through the courts but seems unlikely to win. Whether the threat to go to litigationwill be enough to bully the PL into finding some other money to keep them going until the end of the season remains to be seen. One suspects that is their best hope because Gaydamark will not give up his lien on the parachute payments any more than he will give up his hostage strip around the ground which diminishes its resale or development value.

 

[Papa Lazarou]

I agree. This situation looks dire. No investor will be able to pay Championship / League One wages and the ground and infrastructure needs radical overhaul. What a fall from grace!

Although I don't blame him one moment for the situation it would be ironic if they went into liquidation on the day Harry Redknapp is appointed England manager.

Delicious irony... But it will be lost on their fans.

 

[Hillian1]

Portsmouth will last out the season and beyond.

The issue is that their last CVA agreed to pay their debts, one of which was a £10m football (and therefore prioritised) debt to their former owner. Now Gaydamark has since een revealed to be somewhat less than honest but the debt was real and should be honoured (whether ahead of other, non football, debts iis another matter subject to challenge by HMRC). The CVA agreement arranged for this debt to be paid via the PL parachute payments.

Now whilst I totally understand why the new administrator wants and indeed needs to get his hands on that money, it appears to be a legally binding committment which he may challenge through the courts but seems unlikely to win. Whether the threat to go to litigationwill be enough to bully the PL into finding some other money to keep them going until the end of the season remains to be seen. One suspects that is their best hope because Gaydamark will not give up his lien on the parachute payments any more than he will give up his hostage strip around the ground which diminishes its resale or development value.

SSN are reporting PFC will not be able to complete the season.

Is this likely?

Please say yes.

 

[hans kraay fan club]

SSN are reporting PFC will not be able to complete the season.

Is this likely?

Please say yes.

SSN might, as usual, be over-dramatising the situation.

Is THIS likely?