Guest Antec Posted April 21, 2010 Share Posted April 21, 2010 Outstanding transfer instalments (£17.304m) Williamson - Watford (2 x £250,000, 2 x £500,000) Link to post Share on other sites More sharing options...
Rob W Posted April 21, 2010 Share Posted April 21, 2010 There should be a proper public enquiry into this mess - and maybe legislation afterwards Link to post Share on other sites More sharing options...
Rob W Posted April 21, 2010 Share Posted April 21, 2010 what is a disgrace is that some of the smaller creditors might go bust but someone is "secured" on £ 14 million Link to post Share on other sites More sharing options...
Liam Liam Liam O Posted April 21, 2010 Share Posted April 21, 2010 what is a disgrace is that some of the smaller creditors might go bust but someone is "secured" on £ 14 million Yep, in the main the bigger creditors can probably absorb the losses (agents and the like), but the smaller businesses & individuals are fucked. Link to post Share on other sites More sharing options...
Liam Liam Liam O Posted April 21, 2010 Share Posted April 21, 2010 Are agents classed as protected/preferential football creditors? Link to post Share on other sites More sharing options...
NJS Posted April 21, 2010 Share Posted April 21, 2010 My god, who was doing these deals. It stinks of Redknapp. Link to post Share on other sites More sharing options...
madras Posted April 21, 2010 Share Posted April 21, 2010 The list of creditors is terrifying TBH, good article here: http://www.guardian.co.uk/football/2010/apr/21/portsmouth-report-creditors It's incredible how they have managed themselves into this crisis. To get away with repaying 25p in the pound seems a major let-off, could they go into liquidation still? i think leeds paid back less than 10p in the pound. Link to post Share on other sites More sharing options...
MW Posted April 21, 2010 Share Posted April 21, 2010 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? Link to post Share on other sites More sharing options...
Dave Posted April 21, 2010 Share Posted April 21, 2010 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. Link to post Share on other sites More sharing options...
Liam Liam Liam O Posted April 21, 2010 Share Posted April 21, 2010 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. Link to post Share on other sites More sharing options...
MW Posted April 21, 2010 Share Posted April 21, 2010 Ah right I see, cheers Link to post Share on other sites More sharing options...
Ridman Posted April 21, 2010 Share Posted April 21, 2010 Pukka Pies: £40 Qatar Airways: £0.20 My God Link to post Share on other sites More sharing options...
Guest neesy111 Posted April 21, 2010 Share Posted April 21, 2010 i think peter storrie has a lot to answer for he was chief executive for this mess, and getting paid over 1 million Link to post Share on other sites More sharing options...
Doctor Zaius Posted April 21, 2010 Share Posted April 21, 2010 Owe a load to schools as well, stealing from kids Link to post Share on other sites More sharing options...
jdckelly Posted April 22, 2010 Share Posted April 22, 2010 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 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 Link to post Share on other sites More sharing options...
Liam Liam Liam O Posted April 22, 2010 Share Posted April 22, 2010 Portsmouth is the sort of club I could see the Shepherds ending up owning if the CVA goes through. Link to post Share on other sites More sharing options...
Martin Lol Posted April 22, 2010 Share Posted April 22, 2010 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 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. Link to post Share on other sites More sharing options...
NJS Posted April 22, 2010 Share Posted April 22, 2010 So they helped them out by adding a £1m "fine" if anything went wrong? Fucking twats. Link to post Share on other sites More sharing options...
Hughesy Posted April 22, 2010 Share Posted April 22, 2010 Not really.... Link to post Share on other sites More sharing options...
Chris_R Posted April 22, 2010 Share Posted April 22, 2010 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. Link to post Share on other sites More sharing options...
Disco Posted April 22, 2010 Share Posted April 22, 2010 At least Peter Storrie isn't owed any money. Nearly £10m to agents n all - scandalous. Not allowed in Waffa Cup either...Liverpool in through the back door again. http://www.guardian.co.uk/football/2010/apr/22/portsmouth-europa-league Link to post Share on other sites More sharing options...
Liam Liam Liam O Posted April 22, 2010 Share Posted April 22, 2010 Not allowed to play in Europe next year. Correct decision really. Link to post Share on other sites More sharing options...
gazza ladra Posted April 22, 2010 Share Posted April 22, 2010 May be the correct decision, but I'll be disappointed if the ruling is the only thing keeping Liverpool in Europe next season. Link to post Share on other sites More sharing options...
Teasy Posted April 22, 2010 Share Posted April 22, 2010 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. Link to post Share on other sites More sharing options...
LesPaul Posted April 22, 2010 Share Posted April 22, 2010 I LOVE Portsmouth. Makes us look normal by comparrison Link to post Share on other sites More sharing options...
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