Portsmouth FC in yet more trouble - administration again?

[wormy]

Sorry, I know we all hate Harry Redknapp, in full agreement there, absolute scum of a sub-human being. But.. What is any of this his fault for? I don't know the full story, as far as I was aware this is due to repaying of debts. Can't really have a go at saggyface for accepting the open chequebook handed to him, even if he is a dodgy cunt, surely this instance in particular falls down at the door of the board/chairman? Unless someone can shed some light on his involvement for me, like I say don't know the full story.

[madras]

Sorry, I know we all hate Harry Redknapp, in full agreement there, absolute scum of a sub-human being. But.. What is any of this his fault for? I don't know the full story, as far as I was aware this is due to repaying of debts. Can't really have a go at saggyface for accepting the open chequebook handed to him, even if he is a dodgy c***, surely this instance in particular falls down at the door of the board/chairman? Unless someone can shed some light on his involvement for me, like I say don't know the full story.

a few on here did point that out when pompeys troubles first started. (however as always it's more satisfying to blame a t*** for something thats not really his fault)

[Southerner]

If Pompey died horribley as seems to be heading toward I'd love us to purchase thier youth academy and keep it running, could be very cheap and very productive havng a southern youth team to pick from. Would be a bad idea to call it SOUTH NEWCASTLE FC. Think it would be fire bombed. 

[wormy]

Sorry, I know we all hate Harry Redknapp, in full agreement there, absolute scum of a sub-human being. But.. What is any of this his fault for? I don't know the full story, as far as I was aware this is due to repaying of debts. Can't really have a go at saggyface for accepting the open chequebook handed to him, even if he is a dodgy c***, surely this instance in particular falls down at the door of the board/chairman? Unless someone can shed some light on his involvement for me, like I say don't know the full story.

a few on here did point that out when pompeys troubles first started. (however as always it's more satisfying to blame a t*** for something thats not really his fault)

Fair point, just enjoying blaming saggyface for the hell of it was gonna be my next assumption, can't blame people for that though, it is fun

[madras]

Sorry, I know we all hate Harry Redknapp, in full agreement there, absolute scum of a sub-human being. But.. What is any of this his fault for? I don't know the full story, as far as I was aware this is due to repaying of debts. Can't really have a go at saggyface for accepting the open chequebook handed to him, even if he is a dodgy c***, surely this instance in particular falls down at the door of the board/chairman? Unless someone can shed some light on his involvement for me, like I say don't know the full story.

a few on here did point that out when pompeys troubles first started. (however as always it's more satisfying to blame a t*** for something thats not really his fault)

Fair point, just enjoying blaming saggyface for the hell of it was gonna be my next assumption, can't blame people for that though, it is fun

careful wormy. you stop being an iconic legend at 100 posts and just become an average jo(sephine) and member of the hoi polloi.

[wormy]

Sorry, I know we all hate Harry Redknapp, in full agreement there, absolute scum of a sub-human being. But.. What is any of this his fault for? I don't know the full story, as far as I was aware this is due to repaying of debts. Can't really have a go at saggyface for accepting the open chequebook handed to him, even if he is a dodgy c***, surely this instance in particular falls down at the door of the board/chairman? Unless someone can shed some light on his involvement for me, like I say don't know the full story.

a few on here did point that out when pompeys troubles first started. (however as always it's more satisfying to blame a t*** for something thats not really his fault)

Fair point, just enjoying blaming saggyface for the hell of it was gonna be my next assumption, can't blame people for that though, it is fun

careful wormy. you stop being an iconic legend at 100 posts and just become an average jo(sephine) and member of the hoi polloi.

You only ever loved me for my mystery

[James]

Think people are being naive if they think liquidating Portsmouth will make other clubs pay their taxes.

 

Reality is that individuals take over football clubs for their own personal glory and have no intention of running things properly. Then they scarper before they can be held to account.

 

Only changing that will protect the taxman.

[Liam Liam Liam O]

Think people are being naive if they think liquidating Portsmouth will make other clubs pay their taxes.

 

Reality is that individuals take over football clubs for their own personal glory and have no intention of running things properly. Then they scarper before they can be held to account.

 

Only changing that will protect the taxman.

 

Too late to change that now.  If Portsmouth go to the wall, so be it.

[Liam Liam Liam O]

Why should the fans suffer when it wasn't their fault? Horrible mismanagement. I agree that the blame has to be pinned on someone though, especially in the 'current climate'.

 

Loads of people suffer whenever this happens, football isn't a special case.  All the staff at Garlands and Freedom Direct in this region who lost their jobs weren't to blame either.

Yes it is. Neither of the above have the social or cultural significance of a football club.

 

Its hard to say if HMRC have decided to make an example out of Pompy, or if Portsmouth have been taking the piss. Id guess its the later but the supporters arent to blame and the community needs its football club. If it ceases to exist the people who have fucked up wont be the ones who pay the price.

 

Even if the ruling goes against Portsmouth I doubt theyll be liquidated, it just sounds like a threat intended to put pressure on the court. The best result for football would be for the HMRC to win their case and a criminal investigation by the police.

 

 

Sentimental bollocks that.  No way at all do they deserve any special treatment.

 

Lots of people liked going on holiday, should that Turkish holiday tour operator have been saved?  Should they fuck.

[NG32]

Liquidise Redknapp the crooked t***.

 

That would be one wobbly smoothie.

 

 

[NG32]

Hmm tough one but like other folk have pointed out, i have to pay the taxman and my other outgoings before i get my own money, football clubs are no different.

 

Massive wake up call for football clubs.

[ToonTastic]

Why should the fans suffer when it wasn't their fault? Horrible mismanagement. I agree that the blame has to be pinned on someone though, especially in the 'current climate'.

 

Loads of people suffer whenever this happens, football isn't a special case.  All the staff at Garlands and Freedom Direct in this region who lost their jobs weren't to blame either.

Yes it is. Neither of the above have the social or cultural significance of a football club.

 

It’s hard to say if HMRC have decided to make an example out of Pompy, or if Portsmouth have been taking the piss. I’d guess it’s the later but the supporters aren’t to blame and the community needs its football club. If it ceases to exist the people who have f***ed up won’t be the ones who pay the price.

 

Even if the ruling goes against Portsmouth I doubt they’ll be liquidated, it just sounds like a threat intended to put pressure on the court. The best result for football would be for the HMRC to win their case and a criminal investigation by the police.

 

 

HMRC used to get their cash first when it came to debts with football clubs, that rule was changed and they were lumped in with everyone else in terms of debts, that's why there are alot more clubs ending up in court now cause HMRC has to fight harder to get some cash.

[AyeDubbleYoo]

All companies have some social (and maybe cultural) significance though, if a car manaufacturer goes bust it puts hundreds of people out of work and damages the local community hugely.

 

I see what people mean about football clubs, but they have to learn to manage their money properly.

[Guest ObiChrisKenobi]

Was a good piece on the BBC website about this. Seems HMRC have caught on to clubs using 'image right' bonuses as a way to avoid tax. If thats the case, I can expect a few more being pulled into the Courts if HMRC win.

[Magpie]

Got a strong feeling Portsmouth FC will be liquidated today. Lots of info on our intranet (work for HMRC) about our enforcement teams targeting football clubs so I can't see them getting off lightly at all.

[merlin]

If PFC have taken the piss and now owe the taxman £37m and are not in a position to pay then they deserve to be liquidised.

 

I know it's harsh but that's the way of the world, HMRC need to make an example out of someone to ensure the 91 other clubs don't take the piss and if it's Portsmouth that bite the bullet then tough s***. They should have paid what they owed while they were clawing in millions on the back of their FA Cup win. Like I said, rough with the smooth.

 

The people who took the piss should go to jail. Those that are left deserve their football club.

 

Truth is that Portsmouth are a private company who can generate future tax payments to be pumped into the economy. Liquidate the club and you lose £37m plus all future tax revenues. Dont liquidate the club and get a bit back from the CVA, and get future tax revenues from a stable football club.

 

Liquidate the club and every single club in the country pays every penny it owes on the dot, year in year out.

 

Don't liquidate them and others will take the piss and HMRC might lose a hell of a lot more than that over the next 20 years or so. There will always be a club in Portsmouth so they can always tax the new club too.

 

Make them start from scratch.

 

I think the fear of prison for football club directors that don't pay the taxman is most likely to stop clubs offending. Obviously this requires new government legislation, but should be brought into place.

 

Not liquidating Portsmouth will generate significantly more tax revenue than a non-league Portsmouth.

 

Tough s***.

 

Each month the taxman takes a chunk out of my wages without me having a choice. As does my National Insurance and my pension. Once they've gone my bills get paid and I've got a certain amount to live on.

 

Portsmouth decided that they'd not pay their bills and invest the saved money in the squad and their wage bill. They achieved a fair amount of success with this enhanced squad and made quite a bit of extra money on the back of their FA Cup win and the European place it brought. They've lived beyond their means and have done so whilst deciding not to pay the essential bills that most other people and companies manage to. They deserve no sympathy and should be wiped out and made to start again.

 

It's not the fans' fault but tough s***. Get behind the new club created in Portsmoth or go and support Southampton.

 

Totally agree Midds - football clubs are NO exception from the Tax rules that govern the rest of us, and why on earth should they be ? Just because some people choose to base their lives around a football club is no reason to excuse them from the penalties that apply to everyone else. If you buy shares or have a Pension fund, you take your chance on its fortunes and, as those who got involved with Madoff found out, the people running them are not guaranteed to be whiter than white...

 

So Pompey goes bust - so what ? At least the fans are not losing thousands of pounds in the process.

 

Football needs a wake-up call and the over-paid numbskulls who play for some of them def need a pay cut...bring it on !!

[merlin]

All companies have some social (and maybe cultural) significance though, if a car manaufacturer goes bust it puts hundreds of people out of work and damages the local community hugely.

 

I see what people mean about football clubs, but they have to learn to manage their money properly.

 

If a car firm goes bust its usually because the product was no good - UK had the second largest car industry in the World after WW2, now look at it ; hardly a decent brand left in UK hands because Commie Unionists and lousy management between them cocked it up in the 70s.....

 

Sounds just like some football clubs to me !

[Nobody]

lets not bring Plymouth into this. What they did for us at the end of the season was out of this world considering what happend to their club at the same time.

 

That's my point, dickweed.

Plymouth is definitely my "second team" after that game like.

Very sad news for Portsmouth supporters this, wouldn't even wish it on Sunderland.

[Guest Stephen927]

Redknapp isn't to blame, he spent the money he was given. The owner still has to sign off on the deals.

 

Shame for Portsmouth fans, the club was ran by a bunch of idiots who thought they could get away with living beyond their means. The size of the stadium and the lack of opportunities to expand it should have been a good indication that financially, there was only so far Portsmouth could go without being subsidised continuously.

[Colos Short and Curlies]

What will be interesting if HMRC win is the level of tax that they will chase from the big 4 teams. I'd stick money on the likes of Rooney and Gerrard having massive Image Rights payments going through each year in lieu of salary

[Guest gggg]

Redknapp isn't to blame, he spent the money he was given. The owner still has to sign off on the deals.

 

Aye he's been sent to court along with Storrie, Willie McKay and Mandaric for a laugh. He's never met them m'lud.

[JH]

Redknapp isn't to blame, he spent the money he was given. The owner still has to sign off on the deals.

 

A bit of a coincidence that he fucked off to Spurs at just about the right time.

[Guest neesy111]

Peter Storrie is the one that's caused all the trouble, he ran the club recklessly, and spouted off a load of lies to the fans and media about the state of the club

[Guest ObiChrisKenobi]

What will be interesting if HMRC win is the level of tax that they will chase from the big 4 teams. I'd stick money on the likes of Rooney and Gerrard having massive Image Rights payments going through each year in lieu of salary

 

Think that'll be the landmark issue from all of this. Obviously its terrible that Portsmouth might fold, but paying taxes is paying taxes. But HMRC are arguing that Portsmouth owe x amount more as they didn't declare the Image Rights payments, which will open up a whole new issue for every other club that pays those too.

[Colos Short and Curlies]

Peter Storrie is the one that's caused all the trouble, he ran the club recklessly, and spouted off a load of lies to the fans and media about the state of the club

 

Everyone involved is to blame.

 

Storrie had insight to the finances and effectively signed the cheques, but Harry is an experienced manager who would have known that Portsmouth couldn't afford the spending that was going on.

 

Personally I hope that HMRC win the case. Its tough on the fans but football needs a reality check and reminded that its not above the laws of the land and cannot buck basic financial truths. I'm pretty confident that I would feel this way if it was us in their position (but obvioulsy without actually being there I can't say for definite how I would feel then)

 

(would be more fun if it was a Man U or Liverpool though)