Faz

Any Pompey fan who reads This and thinks they're saved must be bonkers. As I read it all I could hear was the sound of hope disappearing over the horizon.

What sky tv money? Do you mean the year one parachute money being kept by the EPL to settle football debts? If he's only guaranteeing the £16m, they still need to generate the cash for running costs through player sales if they are to hit their player budget, and make the payments under the CVA. How will he guarantee the payments - would you just take his word, or would you want assets behind it (I guess he has a football ground he could use). Is he really going to throw more money at it? If he's not ratified until after the transfer window closes, he will have to fund them pending further player sales in January. But the budget is not suatainable in the medium term, and hestill doesn't seem the most enthusiastic of owners. There's still a lot of unanswered issues here.

And the Bolton bit?

Firstly, enough already with the Cortese bashing. V. tiresome. Secondly, don't both clubs need to agree a reduction to standard ticket pricing? Maybe Bolton weren't up for it?

Becasue the Holding Company would need to agree a price for the product, to be universally charged, thus making it a Cartel, and therefore illegal.......oh

The "Freedom of the Press" arguement is bullsh1t. They are free to report on games, they just need to use images (if the actually want to use them) from the official source. The club are within their rights to protect their image rights. Others will follow. If we unearth the next Rooney they'll be tripping over their principles to get the story before anyone else, and buying pictures from us if it sells papers. Shysters, the lot of them.

Really? Really?? Because why?

Are the school holidays over yet? Freedom of the press - pah. They arre able to report p[erfectly adequately. Most of our match reports don't have photos anyway. The media rights belong to the club, they can manage them how they think fit. If they've got it wroing, they'll change soon enough. But I suspect it woin't be long before others follow.

Me too.

These would be the same Schoolchildren who were encouraged to claim the full amount of their outstanding contracts in the CVA, and then vote in favour of said CVA, to ensure it passed.

"This raises serious issues about Freedom of the Press" ??????? Really. This would be the same press which feels it has a right to print lies, innuendo and invade privacy "in the public interest". To then try to take the moral highground over a football match, a "product" where the rights owners seek (whether ill judged or not) to protect thier own commercial interests is, frankly, laughable. TDD is right, this will not register outside the confines of this forum in 2 weeks time. The arguement about us only being a L1 club is irrelevent. We know what NC is trying to do is put in place the right infrastructure now for when we do hit the big time. Just out of interest, what is the practice on the continent?

Just because he doesn't officially start un 30/08, doesn't mean he insn't already influencing policy, and "signing off". I'd be shocked if he wasn't.

The £13m for wages depends on getting £18m in player sales this season. They've raised probably no more than £2.5m so far after expenses, player bonuses, contract buy-outs and agent fees.

Ah, facts: Possession: Southampton 52% Plymouth 48% Attempts on target: Southampton 7 Plymouth 1 Attempts off target: Southampton 9 Plymouth 4 Corners: Southampton 10 Plymouth We lost a game of football. Sh1t happens. We will win the league over the remaining 45 games.

Is there an opposite to Rose Tinted glasses? If so this is surely the definition of it.

Have a look at the finances of, say, Shefield United. They maintain a playing budget of around that level, but get average crowds in excess of 20k, and have an infrastructure which is of PL Standard (Ground and Training facilities). And still they have to subsidise wages through player sales. Pompeys playing budget, once again, allows for no investment in the clubitself. Thankfully, they're eating themselves to death. Sticking their own two fingers in the toaster to see if it works.

I'm not sure that this is one of the grounds for appeal of a CVA. With regard to the CVA failing, you have to remember that the Supervisor can call a meeting and the creditors can change the terms and/or accpet a lesser amount. The greater risk is the revenue streams indicated in the CVA (mainly player sales in year1) not being available. If Chennery buys the club, it remains in CVA unless he comes to an alternative arrangement with the Creditors. He could propose a one off payment representing, say 2p in the £ now, which the Creditors could accept if the altwernative is failure, and take them out of CVA. In one fell swoop he has plugged the cashflow shortfal - ish. It will cost him £10m though, on top of the £14m already invested. I just wonder whats in it for him to buy them right now. I also wonder if the FL are looking at his links to previous owners and making life difficult? His £14m loan at 28%, plus rent for the ground sucks £5.5m pa from the club. A club where many of the top wage earners remain. I just can't see them having the funds, or the players, to be a realistic proposition. And their survival is not yet guaranteed. And they have a rusting hulk for a ground. And no offices. Nor a car park. No training ground. No youth set up. Plus Tax irregularities. And possible unlicenced agents usage. 50,000 posts anyone?

So, Its Ok for Getty images to take loads of photos and be paid for them by other organisations, but not ok for Saints to exploit that market? Guardian are upset, but take their pics from Getty. Crack on NC.

HMRCs claim was that the CVA was prejudicial. Mann J says that it wasn't because the alternative is liquidation and nothing for the HMRC or any other unsecured creditor. That's not to say they haven't got away with it, or that in his written summation he won't have a pop at AA. So far AA has played a blinder for Chennery. There are lots of other issues though. Will BC put funds in if they can't meet their obligations? Will other irregularities yet bite them in the bum?

Reading the brief quotes form the Judge, essentially he seems to be saying that if he found in favour of HMRC they (and every other Creditor) would be worse off. There si nothing so far about the validity or otherwise of HMRC's claim - only that they were not prejudiced by the vote. To that extent Pompeys brief had it right when he played the "poor Pompey" card. The final written summation may have more to it that simply finding in Pompeys favour. The result is, they survive. Just how workable the CVA is though, is a moot point. And the financial irregularities thing still haunts them. No buyer is liely to come forward, other than Chennery, whilst that shadow hangs over them. And he would be bonkers to through money at it whi9lst they could yet be relegated for those crimes. In hope.

None

When thye lose, Pompey will stay in administration of rthe rest of the season. Transfer embargo. Parachute payments & player sales will be witheld by the PL/FA to meet Football Creditors and the cost of Adminstration. What is left will go to help the running costs. When that runs out, they're f*cked. IMO.

Duncan, Pointless drivel IMO. Why on earth would NC give Pardew money to spend, in the knowledge he is going to push him out whatever? Have you checked your Bank Account?

Probably because the new owners at Palace are paying the footb all creditors form their own money, whereas AA is diverting the parachute monies for this purpose. The scenarios are completely different. The Palace scenario is the same as Wimbledon, which HMRC lost. The Skates are the first club with Parachute Payments to be in this position. Although I've been drinking so it could all be b0ll0cks.

AA sounds a beaten man http://www.telegraph.co.uk/sport/football/leagues/premierleague/portsmouth/7920152/Portsmouth-back-in-High-Court-as-existence-is-threatened-again.html