Chin Strain

Yep, it's win win for the players which ever way you look at it.

But *cough* he's not the owner at the moment *cough* as the club's not in administration...apparently.....AA would have to fire him I'd have thought, as administrator of CSI and, even then, I'm not sure whether he could...although aren't UHY Hacker the de facto owner of Pompey at the moment?

So maybe BC sees the April parachute payment as a massive step towards recouping some of his money. That would tie up with why AA wqs so keen to sell the players - stave off HMRC with the clubs playing staff, keep them ticking over for another couple of months whilst HMRC wait to put together another WUP, take the PP money, and throw the club back into admin once the WUP comes again. The decision to pay the players over HMRC smacks of building up a debt that you know can get dumbed down to 5p in the £. After all, why pay HMRC over the players - the players are guaranteed to be paid from any admin.

Being totally cynical I'd suggest that BC has already taken a large slice of the PPs received so far. Has he actually had most of his return already then, considering that they haven't made any CVA payments at all yet? I don't see it any different to you, to be honest. He know that there won't be any takers at the level he wants. Even if someone bought the club for a quid out of administration, that wouldn't include the ground. Even if it did, the cost of the wages, the CVAs and the club / ground would be enormous and simply not worth it. It's the current wage bill that will put the brakes on any takeover...from a 'normal' purchaser. The only people that they can hope to attract is nutjobs and crooks. I'd imagine that a failure to service a CVA would result in a pretty monumental points deduction. ALternatively, maybe he'll take the club, pay whatever he can get away with paying until the PP arrives, take the PP and disappear leaving the club to face the music. Maybe the outlay to get them to April will be significantly less than the £8m PP.

That sounds about right. I assume that there would be some pretty serious repercussions from the FL if they reneged on the CVA, and the same from the creditors - I'd imagine HMRC would take a dim view. So, PPs go to the club, and they have to service the CVA from their accounts. I know they had some of the PPs advanced in 2010, but wonder how much is still to come, and when.

Thee's little value in the players IMO. Even if someone wanted to take one of the big earners, those players would need to fit into their wage structure. Even if the club were willing to pay Pompey a transfer fee, Pompey would need to make up the difference in the wages or the player would sit tight. The chances are that early contract settlement would knock out any transfer fee. What also doesn't help them is having older players sitting on big wages. Less likely to get a comparable deal anywhere else, and less likely to command a fee. The only players worth something are likely to be the younger ones on lower wages. I'd hazard a guess that the 8 players on £1.1m a month are all getting on a bit.

I think what will help me join the dots up here, with regards BCs likely next step is: - what happens to the previous CVA if they go into admin? Can they renegotiate? - are the parachute payments earmarked for the previous CVA (I think yes), and where are they paid to? Would they go to the new company to service the debt and, if so, can new company syphon them off and sod the CVA? - if Pompey get wound up, will the parachute payments cease to be paid by the PL (i.e. do the PL keep them), or are they paid in one hit to the liquidator to distribute? I think the picture would be clearer for me if I had answers to these questions. Anyone?

But the PPs are another can of worms as, by claiming those now, it's two fingers up to the last CVA - they already needed the PPs plus average gates of 15k for 4 years, plus several million in raised transfer fees to cover it. If they start claiming the PPs now the last CVA is unserviceable. What happens then? Maybe Clapham can help?

This, plus the running costs to get them to the end of the season. Then he could sell as many players as he could in the summer and take the cash....which would be fine if they had a couple of players that they could sell for £5m, but they just haven't. He wouldn't cover the wages to reach the end of the season by player sales, and even then he'd still be up to his eyeballs in future wage bills - I'd reckon LL, Kitson, Norris, Halford to name but a few, have at least 18 months remaining on contracts.

I just don't get what's in it for him to step in.

Bit like the Rob Lee or Gazza:facepalm:

Kamil Koslowski

That's a good read. One thing that sticks out like a sore thumb is the POmpey fans (including this article) saying that Chinny has nothing to gain from liquidation. THis may be true (although I seriously doubt if the council could enforce that the ground remains for sporting use if there's no football club), but surely he has a lot more to lose by taking on the club again. He'll be stiffed with £1.5m a month in wages, so it'll cost £10m to get to the end of June (even then I'd bet not many big earners contracts are up at that point). He'll know by now how little value is in the squad. He'll know that he had enough trouble selling the club last time, and he'll also not want to throw good money after bad.

That's genuinely hilarious. B ugger....I mean the bit from teh PST

Yep, it was great. We were on the pitch and they were in the directors box. TBH it was all good humoured, and most were throwing it back....then the club got arsey

If they don't pay the police, we'll all be paying to stage their match as well as pay their players. We never see a fecking win bonus though....mind you, to be fair..... Ticket sales probably go into a brown paper bag.....

And the ones that aren't are probably from posters on here...

I have to ask the obvious question. Did you actually read or hear what DC said and, more importantly, did you understand it? The text is: She said: “If a local supermarket closes down another quickly takes its place. If Portsmouth Football Club closes down, the Pompey fans will not be content with buying their season tickets from Southampton. “Will the Prime Minister add his voice to mine in calling for HMRC to meet with the club so it recoups the taxes it’s owed, that our club survives and that the fans have their chance to become its owners.” Cameron responded: “I will certainly do that. I think she is absolutely right to raise this issue. Knowing one or two Pompey fans I can completely understand. “The idea that they can go and support Southampton is completely incredible. We must do all we can to keep this friendly rivalry going.” So she suggests that HMRC should meet with POmpey to recoup taxes. He agrees.

This. In spades, every day of the week, and at weekends. Bloody right. I don't care that it's Pompey. If it was us I'd be equally disgusted. Sure, Ho will think that we're just saying that, but I know my own mind how I was brought up, and how I understand the difference between right and wrong. I understand businesses go bust, but it's how you go bust that is important too.

Good old Gaydamak, he was straight down the line, wasn't he. Daddy was a gun runner and son had no visible means of income. Yep, he was fine......by your standards. When my MP stands up in the House of Commons and says about Vodafone what Ms Mordaunt said yesterday about Pompey, rest assured he'll be getting a letter. I notice quite a few comments on her page from Pompey residents, with a brain, that point out that she had one hit to raise the loss of 3000 jobs in the Portsmouth Dockyard in front of the PM, and the rest of the nation. Instead she pipes up about the plight of the local tax dodging football club. Crass.

Everyone knows that they'll be able to get the players for free soon.

That can't be right. Revolution Saint has spent the best part of the last week telling me that we asked, they said no, player said he''s happy, Nige said we'd move on.....and that was that. My point that there's a starting point in negotiations, a finishing point, and lots of agendas and approaches in between, seems to have been right. Who'd have thought.

SSN seem to think so

You'd be pretty pi ssed if you were Jamie Vardy

Yep, I got the same!