rallyboy

I still believe they could find themselves under a transfer embargo for failing to file accounts - a new ruling quietly voted in last week.

we know how damaging delay can be for a new season. Slowly does it Mr AA, no need to rush things. Anyway the unveiling of the new manager will have to wait until his Argentina side get knocked out of the world cup.

that means AA has realised that the time for words is over, it's time to deliver! - a cva, debt repayment, a genuine financial report, and perhaps apologies to the fans he's misled, and everyone they've screwed? I expect him to score 0 out of 5. Though he might have a different version of the result.

if we've learned anything in 555 pages it's take any statement coming out of Fratton with a pinch of salt - the promises of wealth, the denial of tax problems, the harbourside superdome, there will be no firesale, the taxman is with us - so many examples, very few have been true. The current classics are that there will be no more points penalties, that they can afford Harewood's wages and the hint that the CVA will sail through unchallenged. They may well turn a corner on Thursday, but it will require more than a press release from AA to make it happen. He can deny it all he wants, he can announce new managers, he can sign autographs and plan big spending sprees - but until a billionaire slaps cash on the table, toast is still on the menu.

the problem is he's ignoring the creditors and hoping they go away, not really his remit. His job is to responsibly manage the debt, not increase it to a ludicrous level - his luck must be running out.

I can't believe that a company in administration can continue to run up debt at the rate that AA must be doing. No current income, regular hefty wagebill, soaring interest payments to shrewd loan sharks - because let's not pretend that businessmen 'helping out' since October last year are doing anything other than exploiting a damaged company to claim assets or massive repayments. Is it not time for AA's bosses to start getting jittery about responsibility for debt created under their watch?

AA and the players they can't shift are slowly but surely bleeding the carcass dry. Any investment from Chanrai funding this sham administration isn't a present, it's additional debt that needs to be addressed should a new owner ever emerge from a nuthouse. Every day that passes without new investment their plight becomes worse, but I can see why AA is in no hurry.

so when they say 'in the running' to buy, they mean, 'have left the table stating they are no longer interested'. I would have thought that even Ukranian gangsters would find it difficult to commit any new offences via the club - child trafficking maybe via a bogus academy?

more progress than that - the word in financial circles is that someone knocked on the door today but by the time AA stopped shredding files and got to the door they'd gone, frightened off by Griffins no doubt.

looks like it was the taxman's fault after all, he should be paying them something as an apology, I bet the greedy git kept taking their VAT off them as well. Those spiteful creditors as well, providing services and then expecting payment!! Is AA the first football administrator who has actually forgotten to administrate and is instead pretending to run a little football club project and does everything in his power to avoid settling debts or satisfying creditors? It's so obvious he's working for one man, the authorities must be ready to jump on him from a great height. Good to see we've cleared up that there will be no more points penalties, that must be a relief to any of the few who haven't read the small print.

about as relevant as the old 'but Chelsea have bigger debts than us, why haven't they been docked points?' argument - an idiotic observation that keeps on spilling out of dim people's mouths. Perhaps we need to put together a leaflet explaining in simple terms what has occured. And on that one - pompey were docked points for going into administration, they have been punished for that (though it didn't cost them anything as they were hilariously proven to be the worst team in the division by quite a margin) There is no comparison with our situation, our penalty was imposed because Rupert missed the date. It's black and white and both offences are now history. However, the further penalties they face concern any irregularities, insolvent trading, use of illegal agents, tax evasion - plus anything else that a proper adminstrator stumbles across when he is eventually appointed. Plenty of laughs to come.

did I spy a little gem at the FL meeting? - it looks like they will be asking to see the latest accounts and the last I heard they hadn't filed any, does anyone recall that? Assuming that hasn't changed, Pompey will fall foul of a new ruling. It would leave them under a transfer embargo already. If so it will only be lifted when they file accounts - and that will lay bare some facts that might clash with one or two of their 'financial reports' previously lodged with courts and expose AA's debt-creation scheme so he'll be in no hurry. If the press report of the meeting is correct and the league back their word, Pompey can't recruit players.

I know there are a lot of pages here but when we discuss an article for three days and then someone puts up a link to it like they are the Sky newsteam breaking a massive story, are they being mischievously humorous or just too lazy to read the previous posts? It happens every few pages - very odd! And for anyone too lazy to read, we already know they are in admin, it's not going well, they cheated to the cup final and it all went pear-shaped. BUT if you have news beyond the 2nd CVA proposal feel free to let us know, otherwise I think we are on top of it ta.

so they can avoid points penalties by staying in admin, but they would be restricted on bringing in new players? That works for me, it would be the penalty that just keeps on taking away! I propose a season staying in admin with a depleted squad locked in a hopeless relegation battle and then no CVA next summer. Start Lg One with a points penalty, -15 for the CVA and -12 for the irregularities which will have been proven by then - and Lge Two will be calling. At some point on this potential journey the few will have to decide when the adventure was no longer worth the longterm damage. Currently it was worth it, a cup win over one relegation. But I reckon by maybe Christmas 2011, that gamble of the club's future against a 1-0 win over a bankrupt midtable championship side will look like an act of madness, and anyone who stubbornly insists that it was still worth it will be sectioned.

Surely the fact that android has massaged the figures and he could still only squeeze HMRC down to 25% is a feck-up of mammoth proportions?? He needed to get them down to 20% to have a chance of forcing a ridiculous offer onto the creditors that he's meant to be working for. Bit late now to find some extra debt, the whole lot should be referred back to the original Vantis report. Has AA made a crucial miscalculation?

just when I thought AA had gone quiet he reminds me of what a great comedy double act he and the prossie-botherer were. Other than interviewing potential managers, advising international players on football ideas, racking up fees working on a pointless european appeal, ignoring obvious criminality, failing to address debt or creditor's concerns, upping the wage bill, underestimating the taxman, allowing the debt to balloon, creating a fantasy CVA plan and signing autographs - has AA thought about doing some actual........well, I don't know how to put it really........shall we call it, administrating? The circus is still in town.

those who don't get the obsession can't have travelled east of the Hamble in red and white. If your missus or kids had been abused in the street just for wearing a shirt you would have an opinion on those that dish it out. So all those back in the cosy wardroom can just worry about Saints, the rest of us in the front line trenches will not only do that but we'll keep an eye on the enemy as well, on your behalf.

Rangers offering Pompey money for Smith?? Two penniless tramps fighting over a sock.

Perhaps AA had forgotten to include the £48M income in his CVA calculations, he will be pleased HMRC has corrected him and allowed him to improve the deal for the creditors he is so obviously working for. I'm sure the Prem can easily find a loophole for controlling the distribution of the parachute payments if they feel the club owners are likely to trouser it. And just to cheer them up further I guess lovely uncle Avram will now start to rip the remaining heart out of their feeble squad in the style of Redknapp and take the last assets to West Ham - even though he loves the fans and their spirit will never be broken! What a legend.

unlike the harbour stadium this is a development. If HMRC overturns this then there could be no debt written off - the football debts have to be paid for them to compete, wouldn't all other debts have to then be paid at the same rate - 100%? Even if the real debt is £100M the figures are nowhere near adding up, Chanrai is firing up his Hertz Focus just at the thought of it, and the creditors must now be planning to wait before approving any CVA. A victory for HMRC would surely leave this blatantly insolvent business dead in the water?....

Palace went into admin and soon found themselves on the brink, they have made real redundancies, were forced to sell and they still cannot pay the wages - they now have 24 hours to save the club. This has been the brutal scenario for every single club that has suffered this fate, apart from one.... Pompey are happily chugging along through an ocean of debt like a company without a care in the world, planning transfers, drawing up a shortlist of managers, booking US pre-season tours. Yet Palace with a much smaller debt can't plan beyond tomorrow teatime. It's about time Pompey went into 'genuine administration' with an independent administrator who could finally made some sort of effort to address the debt. In six months I have seen nothing to suggest that they intend to pay anyone, anything. No player sales of any significance, increased wages, no debt clearance, no deal agreed with the taxman, just blatant insolvent trading. for the 1,375th time we ask - how long can the authorities let this charade continue?

the FL haven't even taken them under their wing yet so we have no idea what they have in store. But I would wager it won't be as generous as the Prem. Let's wait a few days and see how their new league welcomes them......

sorry Nick I disagree about the strength of their squad. You think of the quality we had when we dropped out of the Prem, far too good to go down (!) and certainly good enough to bounce straight back....(!!!) Most of their players will depart and even the old donkeys on big money may find the paycut too much to take. Without investment their squad will lack quality (I don't see that happening) and we know that the CCC may look weak on paper but come 3pm it's a jungle where the weak get savaged. They will be a scared little victim and even the likes of Millwall, S****horpe and Doncaster will be keen to get at them. I see no investment, no fairytale, no full houses, no glorious return.

But if the club is promoted back to the Premier League within the next five years, the creditors will get a boost of an extra five pence in the pound Well that makes all the difference! Local businesses are going to be shafted but if Pompey win the lottery they might give them a fiver! If a company did that to me I would happily write off the pittance on offer, vote against it and dance on their corporate grave.

Let's not forget that we're still only getting AA's version of events and he's the only one telling us how everyone loves his CVA plan and that Operation Liquidation is foolproof. The taxman has historically declined far more than 20p in the pound, I don't see that he'll accept less now, and there's no way I see the authorities accepting AA's progression from administrator to liquidator - at the helm of the fraud investigation into his own client?... Chasing dodgy directors just isn't worth cash to HMRC, Storrie won't be coughing up £20M on his way to Ford. Their best chance of maximum revenue is from the club, with their current claim. I'd be surprised if they don't continue to chase the lot.