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Portsmouth FC in yet more trouble - administration again?


GG

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Is there a fundamental change of policy from HMRC, or is it just the economic situation causing all these clubs trouble? Seems like a lot more financial problems than ever before.

possibly economic situation possibly a crack down with a need for all taxes by government

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  • 2 weeks later...

They look doomed, got to say.

 

Would be unbelievable if a Premier League club went into administration, rank bad management that.

 

Saying that, Woolworths, Zavvi and Borders have gone bust so big names can be vulnerable, even in business.

Dont matter how big a name your company is, if its wonky then any change in the economy is going to hurt.

 

 

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They look doomed, got to say.

 

Would be unbelievable if a Premier League club went into administration, rank bad management that.

 

Saying that, Woolworths, Zavvi and Borders have gone bust so big names can be vulnerable, even in business.

 

Dont matter how big a name your company is, if its wonky then any change in the economy is going to hurt.

 

 

Yep, I've only done Business Studies A-Level, and first lesson is to look after your gearing and your cash flow.

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Is there a fundamental change of policy from HMRC, or is it just the economic situation causing all these clubs trouble? Seems like a lot more financial problems than ever before.

 

English football has in some ways been a microcosm of the global financial situation and subsequent meltdown.

Many football clubs just didn't play by the fundamental rules of business, thinking they were some kind of exception - certain clubs having wage bills in excess of their turnover - totally unsustainable. This model is of course only possible when sponsored by mega wealthy individuals - but even those clubs could be very vulnerable in the future.

Clubs who are balancing the books and resisting the pressure/temptation to find short term success will be best placed to succeed over the next decade or two, as there will be no government bailouts for football.

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Guest Stephen927

They're in such a mess, they have a 20k stadium which they aren't selling out at the moment, they owe clubs and now seemingly they could owe past players wages and bonuses.

 

They are going to be Leeds on a smaller scale.

 

What must the players be thinking now. Should I get my move, or should I fight on to avoid relegation which may not matter anyways if the club folds.

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Guest Roger Kint

They're in such a mess, they have a 20k stadium which they aren't selling out at the moment, they owe clubs and now seemingly they could owe past players wages and bonuses.

 

They are going to be Leeds on a smaller scale.

 

They will no doubt go far worse than Leeds as they have virtually nothing of value now never mind after they go tits up. At least Leeds had large ground, support, staff and youth set ups to give them a chance now the dust has settled.

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Sol Campbell suing them for £1.7m :iamatwat:

 

The more I hear of Campbell, the happier I am we didn't sign him. Seems like a right c***.

 

yup, talk about kicking pompey when they are down.

you'd think after them paying him an astronimical wage in the first place he'd waive anything like that seeing how bad a state the club is in

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Guest Stephen927

From Campbells point of view, it is money he is entitled to, Portsmouth agreed to it to pay him it. Blame whoever agreed to it, not the bloke who is just looking to get his money back.

 

Say you earn £30k a year. You are owed £1k in bonuses, but the company is on the verge of going under. What do you do?

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Sol Campbell suing them for £1.7m :iamatwat:

 

The more I hear of Campbell, the happier I am we didn't sign him. Seems like a right c***.

 

yup, talk about kicking pompey when they are down.

you'd think after them paying him an astronimical wage in the first place he'd waive anything like that seeing how bad a state the club is in

 

Or, he's getting his claim in now before administrators are appointed since he'd be lucky to get 10% of what he's owed i the club goes into administration, but this way he might be able to jump to near the top of the list of creditors when the club does implode.

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