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Portsmouth FC in yet more trouble - administration again?


GG

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I'm a bit confused, how did qualifying for Europe get them in this mess? If anything wouldn't that increase revenue?

 

Are they saying as a consequence for getting into Europe, they had to attract more players so they spent like mad and thats what the problem is?

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I'm a bit confused, how did qualifying for Europe get them in this mess? If anything wouldn't that increase revenue?

 

Are they saying as a consequence for getting into Europe, they had to attract more players so they spent like mad and thats what the problem is?

 

Think they dished out contracts which offered huge bonuses should they get into Europe, obviously assuming they wouldn't get there. They did, so had to pay out the bonuses.

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I'm a bit confused, how did qualifying for Europe get them in this mess? If anything wouldn't that increase revenue?

 

Are they saying as a consequence for getting into Europe, they had to attract more players so they spent like mad and thats what the problem is?

 

Bonuses to players & additional transfer fees they agreed to pay when / if they won a trophy.

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Guest neesy111

i think peter storrie has a lot to answer for

 

he was chief executive for this mess, and getting paid over 1 million

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i think peter storrie has a lot to answer for

 

he was chief executive for this mess, and getting paid over 1 million

plus a bonus for each win and draw :facepalm:

i never say this but i think the best thing to do is shut the club down, use it as an example of how not to run a club and let the pompey fans start afresh because some of this shit thats come out is unbelievable how can any club be so incompetently run i'm still baffled by the begovic thing

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i think peter storrie has a lot to answer for

 

he was chief executive for this mess, and getting paid over 1 million

plus a bonus for each win and draw :facepalm:

i never say this but i think the best thing to do is shut the club down, use it as an example of how not to run a club and let the pompey fans start afresh because some of this s*** thats come out is unbelievable how can any club be so incompetently run i'm still baffled by the begovic thing

 

http://www.tottenhamhotspur.com/news/articles/club-statement-220410.html

 

 

The Club can confirm that it has invoiced Portsmouth Football Club for £1m in respect of the failure of the joint transfer of Younes Kaboul and Asmir Begovic to Spurs and in accordance with the Agreement of 30 January 2010 between both Clubs.

 

The statement contained within the Administrator's report released yesterday (21/04/10) that it relates to a sell-on fee for Begovic, is inaccurate, as is the statement that the player was registered with Tottenham Hotspur Football Club.

 

Our original agreement with Portsmouth was for the purchase of two players for a combined, agreed price. The transfer of Younes Kaboul was completed and Portsmouth pressed for an immediate payment in order to alleviate their cashflow situation. We were assured that the transfer of Begovic would be completed before the end of the transfer window. In order to assist Portsmouth with their financial difficulties we paid Portsmouth an agreed sum of money, whilst at the same time concluding an agreement that, should Begovic be sold or loaned to any Club other than ourselves, we would be repaid the sum of £1m. Portsmouth were keen to openly and freely agree to this surety.

 

Our intention had been to assist a fellow Club in financial difficulties whilst at the same time protecting our commercial position. We shall continue to do the latter and trust that this statement clarifies the position.

 

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I think it's more that Spurs overpaid so in anticipation that the second deal would go through in order to help Portsmouth out.

 

When that second deal didn't go through, Tottenham were due £1m back from the overpayment. That's my take on it anyway, seems Spurs have done nothing but try to be helpful here and are now trying to get back what's theirs when Portsmouth failed to uphold their end of the deal.

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May be the correct decision, but I'll be disappointed if the ruling is the only thing keeping Liverpool in Europe next season.

 

Won't help Liverpool much, the amount of money that comes in from the Uefa cup is tiny compared to their usual Champions League entry.

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