Portsmouth FC in yet more trouble - administration again?

[relámpago blanco]

In a way I'd like to see them go bust to show prospective FC owners what can happen, but I really couldn't stand seeing a club go under and taken out of existence.

[Guest dazzanufc1892]

if i won the euro millions tonight i think i would buy them, then asset strip them, and close them down. hate pompy so much

[relámpago blanco]

if i won the euro millions tonight i think i would buy them, then asset strip them, and close them down. hate pompy so much

Well, tbf, I know a few Pompey fans and the shit they used to give me was unbelievable, Harry will take us to the Champions League etc whislt your pissing about in the championship, one part right I suppose.

[ikri]

It sounds like the Premier League are going to save Portsmouth by givig them £12m in a parachute payment.

 

I'm not sure that'll even help, sure it'll allow them to pay off the people banging on their door right now, but

 

The club's various directors, lawyers and advisors must now open up Fratton Park's big book of financial secrets and put together a compelling argument that the club can repay all its debts (£60m or so), and not just the significant sum it owes HM Revenue and Customs.

 

(from Pompey court out but still alive - just)

 

That sounds like the court no longer actually cares about whether they can repay the outstanding tax bill, they want proof that the business is ever going to be able to pay all of the outstanding debts.  Taking the parachute TV payment early will simply move the date of the payment, like getting a "payday loan" - they're not getting any additional cash, they're just getting it earlier than usual.

 

[Stifler]

It sounds like the Premier League are going to save Portsmouth by givig them £12m in a parachute payment.

 

I'm not sure that'll even help, sure it'll allow them to pay off the people banging on their door right now, but

 

The club's various directors, lawyers and advisors must now open up Fratton Park's big book of financial secrets and put together a compelling argument that the club can repay all its debts (£60m or so), and not just the significant sum it owes HM Revenue and Customs.

 

(from Pompey court out but still alive - just)

 

That sounds like the court no longer actually cares about whether they can repay the outstanding tax bill, they want proof that the business is ever going to be able to pay all of the outstanding debts.  Taking the parachute TV payment early will simply move the date of the payment, like getting a "payday loan" - they're not getting any additional cash, they're just getting it earlier than usual.

 

 

It pretty much means they will be fucked up next year, but I think the EPL's way of thinking is to just get this season over with and more then likely it won't be their problem anymore because they don't run the CCC which is where they will most likely end up.

[Dave]

It sounds like the Premier League are going to save Portsmouth by givig them £12m in a parachute payment.

 

Why didn't they do that for Leeds?

[OzzieMandias]

It sounds like the Premier League are going to save Portsmouth by givig them £12m in a parachute payment.

 

Why didn't they do that for Leeds?

 

Because Leeds weren't about to wink out of existence in the middle of a season?

[Dave]

They weren't? Can't remember but surely they were in deep shit financially prior to their relegation. Hence selling the players and so on.

 

I just don't quite understand why Portsmouth deserve special treatment. What happens if another club is mismanaged like this, will the league bail them out too? Where do they draw the line?

[Amir_9]

They probably did that just so Portsmouth could last until the end of the season, and that they dont cease from existance now. Because they are about 100% certainty for relegation, and if they do cease from existing it wont be in the Premier League and wont affect it.

[OzzieMandias]

They weren't? Can't remember but surely they were in deep shit financially prior to their relegation. Hence selling the players and so on.

 

I just don't quite understand why Portsmouth deserve special treatment. What happens if another club is mismanaged like this, will the league bail them out too? Where do they draw the line?

 

Dunno, but the case of Leeds and the case of Portsmouth seem different to me. I don't remember Leeds being in danger of going out of business in the middle of a Premiership season.

[midds]

Said it in another thread but the PL will move heaven and earth to make sure they fulfill their fixtures and some deal will be done. The potential embarrassment that having a PL team go out of existence during the course of the season is massive. Read somewhere that they want the other clubs to allow them to recieve their parachute payment now to pay the bills and see the season out. After that they'll be fucked big time and will drop through the divisions...but that won't concern the PL because they'll be history once the final ball is kicked this season as far as the PL is concerned. 

[Disco]

They weren't? Can't remember but surely they were in deep shit financially prior to their relegation. Hence selling the players and so on.

 

I just don't quite understand why Portsmouth deserve special treatment. What happens if another club is mismanaged like this, will the league bail them out too? Where do they draw the line?

 

Pre-transfer window perhaps so Leeds carried on selling players? Not sure like. Don't recall Leeds being in the plight that Pompey are like despite how badly they were run.

 

I'm no fan of Pompey but it is horrendous what has gone on there.

[madras]

They weren't? Can't remember but surely they were in deep s*** financially prior to their relegation. Hence selling the players and so on.

 

I just don't quite understand why Portsmouth deserve special treatment. What happens if another club is mismanaged like this, will the league bail them out too? Where do they draw the line?

 

Dunno, but the case of Leeds and the case of Portsmouth seem different to me. I don't remember Leeds being in danger of going out of business in the middle of a Premiership season.

they held it off by selling everyone of note the could..................i wonder how much pompeys remaining staff are worth ?

[Doctor Zaius]

They should get that bloke who sounds like Jo brand in, Gerald Krasner i think he's called. He always manages to save clubs.

 

As for Leeds, I dont think they were in as much of a bad as a situation Pompey were in halfway through the season. They really started to go into the mire towards the end of the season/the start of their first season in the CCC where they were the Football leagues problem, not the Premier League.

[jdckelly]

funny how footballs authoritys ain't so willing to help clubs in desperate trouble outside the prem like leeds in the past, southampton crystal palace and many others I'm sure I'm neglecting but I suppose Scudamore must protect the "brand" of the premier league. Only delaying the inevitable however the club is on its death bed and at best it can hope to survive the season and die then (which would suit scuadmore just fine)

[Disco]

Signed another player. Tosic - not the Man U one.

[Guest Heneage]

Signed another player. Tosic - not the Man U one.

It's the Ex bremen one, I've only seen him a few times but I to be honest I think, Duško Tošić (Serbian: Душко Тошић; born 19 January 1985 in Zrenjanin) is a Serbian football defender. He transferred to Werder Bremen for the 2007–08 season, where he signed a contract until 2011. On 1 February 2010 his contract with Bremen was dissolved.9 days later he signed for Portsmouth F.C. on 12 February 2010.

[edit] International career

 

Tošić made his national debut against Norway on 15 November 2006, a friendly ended in 1–1 draw.

[edit] Personal life

 

Though born in Zrenjanin, Tošić grew up in a nearby Orlovat village. Tošić married Serbian singer Jelena Karleuša in June 2008.[2]

[ikri]

It sounds like the Premier League are going to save Portsmouth by givig them £12m in a parachute payment.

 

I'm not sure that'll even help, sure it'll allow them to pay off the people banging on their door right now, but

 

The club's various directors, lawyers and advisors must now open up Fratton Park's big book of financial secrets and put together a compelling argument that the club can repay all its debts (£60m or so), and not just the significant sum it owes HM Revenue and Customs.

 

(from Pompey court out but still alive - just)

 

That sounds like the court no longer actually cares about whether they can repay the outstanding tax bill, they want proof that the business is ever going to be able to pay all of the outstanding debts.  Taking the parachute TV payment early will simply move the date of the payment, like getting a "payday loan" - they're not getting any additional cash, they're just getting it earlier than usual.

 

 

It pretty much means they will be fucked up next year, but I think the EPL's way of thinking is to just get this season over with and more then likely it won't be their problem anymore because they don't run the CCC which is where they will most likely end up.

 

They're fucked next year no matter what, their biggest problem now isn't really whether they'll get that parachute payment early or not but whether the court will simply say that it isn't enough and that they have no faith in the club being able to meet their future debt repayments before simply carrying through with the winding up order.  I believe that the judge may have given them the extra week, not to find the cash to pay some of their debts, but to sell the club to one of the two "very interested" parties that the club claimed were sniffing around the club.  Sell the club, pay off the outstanding debts and they'll be fine, anything else stands a chance of being rejected outright by the court.

 

The Premiership are probably only interested in helping Portsmouth out until the end of the season so as to avoid the inevitable court cases and appeals that will take place when 1st place, the relegation places & European spots are decided.  If a club is relegated because they've been stripped of points (West Ham & Wolves) that they earned against Portsmouth, or if a team lost players due to injuries or suspensions in games against Portsmouth there'll be absolute hell on. 

[Disco]

Signed another player. Tosic - not the Man U one.

It's the Ex bremen one, I've only seen him a few times but I to be honest I think, Duško Tošić (Serbian: Душко Тошић; born 19 January 1985 in Zrenjanin) is a Serbian football defender. He transferred to Werder Bremen for the 2007–08 season, where he signed a contract until 2011. On 1 February 2010 his contract with Bremen was dissolved.9 days later he signed for Portsmouth F.C. on 12 February 2010.

[edit] International career

 

Tošić made his national debut against Norway on 15 November 2006, a friendly ended in 1–1 draw.

[edit] Personal life

 

Though born in Zrenjanin, Tošić grew up in a nearby Orlovat village. Tošić married Serbian singer Jelena Karleuša in June 2008.[2]

 

Smooooooooooth

[Stifler]

It sounds like the Premier League are going to save Portsmouth by givig them £12m in a parachute payment.

 

I'm not sure that'll even help, sure it'll allow them to pay off the people banging on their door right now, but

 

The club's various directors, lawyers and advisors must now open up Fratton Park's big book of financial secrets and put together a compelling argument that the club can repay all its debts (£60m or so), and not just the significant sum it owes HM Revenue and Customs.

 

(from Pompey court out but still alive - just)

 

That sounds like the court no longer actually cares about whether they can repay the outstanding tax bill, they want proof that the business is ever going to be able to pay all of the outstanding debts.  Taking the parachute TV payment early will simply move the date of the payment, like getting a "payday loan" - they're not getting any additional cash, they're just getting it earlier than usual.

 

 

It pretty much means they will be fucked up next year, but I think the EPL's way of thinking is to just get this season over with and more then likely it won't be their problem anymore because they don't run the CCC which is where they will most likely end up.

 

They're fucked next year no matter what, their biggest problem now isn't really whether they'll get that parachute payment early or not but whether the court will simply say that it isn't enough and that they have no faith in the club being able to meet their future debt repayments before simply carrying through with the winding up order.  I believe that the judge may have given them the extra week, not to find the cash to pay some of their debts, but to sell the club to one of the two "very interested" parties that the club claimed were sniffing around the club.  Sell the club, pay off the outstanding debts and they'll be fine, anything else stands a chance of being rejected outright by the court.

 

The Premiership are probably only interested in helping Portsmouth out until the end of the season so as to avoid the inevitable court cases and appeals that will take place when 1st place, the relegation places & European spots are decided.  If a club is relegated because they've been stripped of points (West Ham & Wolves) that they earned against Portsmouth, or if a team lost players due to injuries or suspensions in games against Portsmouth there'll be absolute hell on. 

 

yeah, I get the impression that it was only granted to see if the new owner can do anything, apparently the judge was going to wind the club up even if they can pay the tax charges but can't pay off it's other debts.

[Doctor Zaius]

Has a professional club ever disbanded so that they physically no long exist in England before? Hasnt this happened in Italy before with Fiorentina before? what happened with those?

[jdckelly]

Has a professional club ever disbanded so that they physically no long exist in England before? Hasnt this happened in Italy before with Fiorentina before? what happened with those?

after fiorentina were relegated in 2002 they went into administration and were refused entry into serie b thus disbanded and reformed at the bottom of the italian league system in serie c2

[midds]

Has a professional club ever disbanded so that they physically no long exist in England before? Hasnt this happened in Italy before with Fiorentina before? what happened with those?

 

Boro either did, or were fucking close to, in '86. 

[Super Duper Branko Strupar]

Has a professional club ever disbanded so that they physically no long exist in England before? Hasnt this happened in Italy before with Fiorentina before? what happened with those?

 

Wimbledon?

[jdckelly]

Has a professional club ever disbanded so that they physically no long exist in England before? Hasnt this happened in Italy before with Fiorentina before? what happened with those?

 

Wimbledon?

technically no