sussexsaint Posted 17 February, 2012 Share Posted 17 February, 2012 Dim question 1. how do they pay for admin 2. how do they pay the gas man 3. how do they pay the polic to put on games 4. why should any of the staff with mortgages stay and not just feck off 5. why should the FL bend rules to allow them to gain players to meet fixtures and effectively give them an advantage over clubs who have traded within their means and 6. what is a reasonable timeframe for events from now on many thanks Link to comment Share on other sites More sharing options...
Window Cleaner Posted 17 February, 2012 Share Posted 17 February, 2012 Still could; the administrator will look to cut costs where he can, which could/should mean he'll look to loan out the high earners. Even if they agreed to pay half their wages while out on loan that would save them £10K a week for the likes of Kitson and £18K a week for Ben Haim. Whether they'll find clubs stupid enough to pay even half of those super-inflated salaries is another matter altogether. well we couldn't find many takers for our estwhile overpaid underachievers so why should they have any more success. An overpaid loan player at a club just creates disharmony more often than not. Link to comment Share on other sites More sharing options...
positivepete Posted 17 February, 2012 Share Posted 17 February, 2012 Not sure how much time Birch will have to investigate prior dealings, I suspect his time will be spent cutting costs to meet income and trying to find a buyer before the cash runs out to a point where liquidation is the only answer. I suspect that time frame is very short. Link to comment Share on other sites More sharing options...
hypochondriac Posted 17 February, 2012 Share Posted 17 February, 2012 I'm happy because I didn't really want Portsmouth to be liquidated this time. What I want to see is them getting rid of all the players they cannot afford and living strictly within their means. What I would like to see is them relegated this season and then spending a significant amount of time in league one. That would be fitting I feel. Link to comment Share on other sites More sharing options...
hypochondriac Posted 17 February, 2012 Share Posted 17 February, 2012 (edited) Not sure how much time Birch will have to investigate prior dealings, I suspect his time will be spent cutting costs to meet income and trying to find a buyer before the cash runs out to a point where liquidation is the only answer. I suspect that time frame is very short. I suspect that moment may have passed! Edited 17 February, 2012 by hypochondriac Link to comment Share on other sites More sharing options...
trousers Posted 17 February, 2012 Share Posted 17 February, 2012 Presumably Chainrai still has the option to close Pompey down by liquidating CSI... He may decide enough is enough and fold his cards now in order to call in his £17m charge. If he does that, it will be very soon as he doesn't want PKF paying out what little money there is in the bank to other non-secured creditors. Indeed.....As I said earlier....let battle commence. The next few weeks should be quality entertainment, even by the standards of this thread. Link to comment Share on other sites More sharing options...
hypochondriac Posted 17 February, 2012 Share Posted 17 February, 2012 Trevor Birch is, in my opinion, the best thing that has happened to Portsmouth Football Club for years. They are now entering the end game. They will come out of this stronger and fitter with just the stability they need BUT only if Birch can find them a buyer. Birch understands football. He will cut them to the bone with the minimum damage to their playing prospects. He has the contacts and the respect. For Portsmouth Football fans, this is their Christmas. TBH I am happy for that as long as they get relegated and begin to finally live within their means. The good news for that is it means they are very likely to send a long time in the lower leagues. Link to comment Share on other sites More sharing options...
trousers Posted 17 February, 2012 Share Posted 17 February, 2012 Trevor Birch is, in my opinion, the best thing that has happened to Portsmouth Football Club for years. They are now entering the end game. They will come out of this stronger and fitter with just the stability they need BUT only if Birch can find them a buyer. What's Dan Williams up to these days...? Link to comment Share on other sites More sharing options...
tony13579 Posted 17 February, 2012 Share Posted 17 February, 2012 hows about.... 10 points admin 10 points misleading finances 10 points not paying staff 10 points not looking after players medical welfare Link to comment Share on other sites More sharing options...
hypochondriac Posted 17 February, 2012 Share Posted 17 February, 2012 Dim question 1. how do they pay for admin 2. how do they pay the gas man 3. how do they pay the polic to put on games 4. why should any of the staff with mortgages stay and not just feck off 5. why should the FL bend rules to allow them to gain players to meet fixtures and effectively give them an advantage over clubs who have traded within their means and 6. what is a reasonable timeframe for events from now on many thanks They do have advanced parachute payments to deal with some of that. How much and how long for I do not know. Link to comment Share on other sites More sharing options...
Chin Strain Posted 17 February, 2012 Share Posted 17 February, 2012 Dim question 1. how do they pay for admin 2. how do they pay the gas man 3. how do they pay the polic to put on games 4. why should any of the staff with mortgages stay and not just feck off 5. why should the FL bend rules to allow them to gain players to meet fixtures and effectively give them an advantage over clubs who have traded within their means and 6. what is a reasonable timeframe for events from now on many thanks I'd imagine: 1. Parachute payment advance will be top of the list. Otherwise, loan out as many players as possible for loan fees 2. Money in the bank from Chelsea game, PP advance, player sale in Jan 3. From any money they raise / have 4. Players...FC rule. Other staff...good question 5. Sounds like Birch knows the score - everyone out and play with the youth team 6. Until they run out of money. Player salaries due end of Feb, so they've got a bill of £3m to pay between now and then (2 months salaries). I wonder how they will get on in March, as £3m is a lot of their available cash. Of course, the reduction that has been quoted down to 10p in the £ for the last CVA will help, but unless they can burn the players on high wages, and can negotiate a deal with Chinny for the ground, they're still in the sh 1t Link to comment Share on other sites More sharing options...
positivepete Posted 17 February, 2012 Share Posted 17 February, 2012 Grauniad reports "High Court beak Mr Justice Norris is satisfied that Portsmouth is insolvent, and hopes the appointment of Birch will allow the club to "stagger on" until a new buyer can be found." http://www.guardian.co.uk/football/2012/feb/17/football-live-blog-17-february Link to comment Share on other sites More sharing options...
hutch Posted 17 February, 2012 Share Posted 17 February, 2012 I'm happy because I didn't really want Portsmouth to be liquidated this time. What I want to see is them getting rid of all the players they cannot afford and living strictly within their means. What I would like to see is them relegated this season and then spending a significant amount of time in league one. That would be fitting I feel. I think in reality most of us would be happy to see them back in their rightful place two divisions below us, and not cheating any more. With the odd "day out in the big time" at SMS once every few seasons in a cup game. Some will call that toast, and some won't. Link to comment Share on other sites More sharing options...
Jimmy_D Posted 17 February, 2012 Share Posted 17 February, 2012 Trevor Birch is, in my opinion, the best thing that has happened to Portsmouth Football Club for years. They are now entering the end game. They will come out of this stronger and fitter with just the stability they need BUT only if Birch can find them a buyer. Birch understands football. He will cut them to the bone with the minimum damage to their playing prospects. He has the contacts and the respect. For Portsmouth Football fans, this is their Christmas. That's not cut and dried. They still have Chanrai with the keys to the stadium, and Gaydamak with the land. In fact, now that Chanrai's lost his puppet, he may well claim the stadium, as I'm pretty certain they'll have missed payments on it. Link to comment Share on other sites More sharing options...
hypochondriac Posted 17 February, 2012 Share Posted 17 February, 2012 I think in reality most of us would be happy to see them back in their rightful place two divisions below us, and not cheating any more. With the odd "day out in the big time" at SMS once every few seasons in a cup game. Some will call that toast, and some won't. I would be perfectly satisfied with that. Doing plan B with AFC Pompey would eventually make them everyone's second team and the media darlings and that would just be irritating so slumming it in the lower leagues would suit me. What does annoy me is that they have a decentish chance of getting a result against us in a couple of months. By rights they should be truly down to the bare bones, instead they sold no one in January and just like when we played them in the cup, have a chance of getting a result with players they cannot afford. Link to comment Share on other sites More sharing options...
hypochondriac Posted 17 February, 2012 Share Posted 17 February, 2012 That's not cut and dried. They still have Chanrai with the keys to the stadium, and Gaydamak with the land. In fact, now that Chanrai's lost his puppet, he may well claim the stadium, as I'm pretty certain they'll have missed payments on it. Yes but the fact the judge questioned his debenture is interesting. Quite possible that he will lose his claim. Link to comment Share on other sites More sharing options...
The Kraken Posted 17 February, 2012 Share Posted 17 February, 2012 TBH I am happy for that as long as they get relegated and begin to finally live within their means. The good news for that is it means they are very likely to send a long time in the lower leagues. Agreed; with a proper administrator in there, for once they will actually be genuinely looking to cut costs and live within their means. Thoroughly hard to do when you have so many inflated salaries on the books, of course. And no transfer window to bring in funding. I'm still very surprised they were allowed into administration, given that even the judge admitted they weren't breaking even. The incoming parachute payments have probably saved them for now, but I'd say they are nowhere near out of the woods yet. Trevor Birch will have some very tough decisions to make, and as euphoric as the Skates are now, they may not like what's destined to happen. And liquidation is still a very real possibility, though I'd say much less so than before today. Link to comment Share on other sites More sharing options...
martyg1950 Posted 17 February, 2012 Share Posted 17 February, 2012 (edited) I was interested that the judge seemed to be quereying the Portpin debenture. Presumably the new administrators would require evidence that it was completely valid. If it were found not to be, that would put them in a rather different different place financialy, cashflow notwithstanding of course. Edited to add - sorry Hypo, must have been typing mine while you posted. Edited 17 February, 2012 by martyg1950 apology Link to comment Share on other sites More sharing options...
hypochondriac Posted 17 February, 2012 Share Posted 17 February, 2012 I think in reality most of us would be happy to see them back in their rightful place two divisions below us, and not cheating any more. With the odd "day out in the big time" at SMS once every few seasons in a cup game. Some will call that toast, and some won't. But they will always have memories of the FA cup (bought with players they could not afford.) Lol. Link to comment Share on other sites More sharing options...
FloridaMarlin Posted 17 February, 2012 Share Posted 17 February, 2012 Does this mean Liam Lawrence can get his leg scanned now? Link to comment Share on other sites More sharing options...
ooh it's a corner Posted 17 February, 2012 Share Posted 17 February, 2012 That's not cut and dried. They still have Chanrai with the keys to the stadium, and Gaydamak with the land. In fact, now that Chanrai's lost his puppet, he may well claim the stadium, as I'm pretty certain they'll have missed payments on it. I can see than happening as well. Chanrai is now going to feel that he has the entire city against him (including the local MP, city council and the fans). He may just get very spiteful. Link to comment Share on other sites More sharing options...
Rusty Posted 17 February, 2012 Share Posted 17 February, 2012 PFC fans are happy because they believe AA has brought in dodgy owners and a proper administrator will magic some great rich owner from somewhere. Not even close. Portsmouth fans are happy with this because it is believed that AA is Chainrai's lapdog and will be looking out for him ahead of others. The judge already touched on the 17m debenture that he see's no evidence for. Link to comment Share on other sites More sharing options...
trousers Posted 17 February, 2012 Share Posted 17 February, 2012 http://www.portsmouthfc.co.uk/LatestNews/news/Portsmouth-Football-Club-Statement-3132.aspx Link to comment Share on other sites More sharing options...
DS Posted 17 February, 2012 Share Posted 17 February, 2012 I'd imagine: 6. Until they run out of money. Player salaries due end of Feb, so they've got a bill of £3m to pay between now and then (2 months salaries). I wonder how they will get on in March, as £3m is a lot of their available cash. About 150% of it infact, if the '2mil in the accounts' story is to be believed. I can't see P*mpey floundering about until much past the end of the season at the latest. They've run trout of luck. Link to comment Share on other sites More sharing options...
trousers Posted 17 February, 2012 Share Posted 17 February, 2012 Does this mean Liam Lawrence can get his leg scanned now? Pull the other one... Link to comment Share on other sites More sharing options...
St Chalet Posted 17 February, 2012 Share Posted 17 February, 2012 Happy with that result. Karma will be delivered, or at least playing left-back now. Watch the CSI administrators ***** to get their loan back now! Link to comment Share on other sites More sharing options...
Torres Posted 17 February, 2012 Share Posted 17 February, 2012 So I've been, erm, in a meeting all morning - did I miss much? Link to comment Share on other sites More sharing options...
BigShadow Posted 17 February, 2012 Share Posted 17 February, 2012 AA's mistruths - Number 1372 'We can handle any objections HMRC might have to my appointment' :lol: Link to comment Share on other sites More sharing options...
Crouchie's Lawyer Posted 17 February, 2012 Share Posted 17 February, 2012 I'm working in Portsmuff tonight... Get payment up front and lock your car doors. HTH Link to comment Share on other sites More sharing options...
Gorgiesaint Posted 17 February, 2012 Share Posted 17 February, 2012 So I presume that by granting the administration order, they now have access to their bank account which has £2.5m in it, including the advance on the parachute payments. But what do they have to pay out of their outstanding bills? (as they total £4m), or are they ok just paying their way going forward (in which case they'll be ok until the next wagebill falls due)? Link to comment Share on other sites More sharing options...
stev2001 Posted 17 February, 2012 Share Posted 17 February, 2012 Happy with that result. Karma will be delivered, or at least playing left-back now. Watch the CSI administrators ***** to get their loan back now! They should offer them 20p in the £ then cut it to 10p without telling AA. Link to comment Share on other sites More sharing options...
St Chalet Posted 17 February, 2012 Share Posted 17 February, 2012 Today Winners HMRC Penny PKF Portsmouth FC (long term) The PTS addicts West Ham Losers UHY AA Chanrai Lampitt (who will be #1 out of door) Link to comment Share on other sites More sharing options...
Torres Posted 17 February, 2012 Share Posted 17 February, 2012 Trevor Birch was sat next to HMRC's main man on Pompey in court today. I'd say they have a decent relationship. It's the same HMRC guy who has been on their case for years - he was in every previous hearing. There's no love lost between Birch and AA and HMRC and AA. PFK and HRMC seems a different story. I don't think PFK will try to shaft the Revenue going forward. Link to comment Share on other sites More sharing options...
trousers Posted 17 February, 2012 Share Posted 17 February, 2012 @pn_clare_semke: Msg to #pompey fans fr Trevor Birch of PKF: ''Keep the faith and keep supporting + hopefully we will find a solution together" Link to comment Share on other sites More sharing options...
Torres Posted 17 February, 2012 Share Posted 17 February, 2012 I'd say Lampitt was a winner today - he's not got to worry about being personally liable for their ongoing mess any more. Link to comment Share on other sites More sharing options...
tony13579 Posted 17 February, 2012 Share Posted 17 February, 2012 He has £2m in the current account to work with. He can afford the scan, He can pay a months wages he can pay the police Previous bills dont matter at this time. or he can make redundancey payments for ordenary staff Link to comment Share on other sites More sharing options...
trousers Posted 17 February, 2012 Share Posted 17 February, 2012 (edited) A Pompey news page up on the Football League website....but nothing about points penalty.....yet. http://www.football-league.co.uk/championship/news/20120217/portsmouth-go-into-administration_2293322_2614386 You'd have thought if it was a run-of-the-mill -10 points we'd have heard something by now...? Edited 17 February, 2012 by trousers Link to comment Share on other sites More sharing options...
trousers Posted 17 February, 2012 Share Posted 17 February, 2012 Clare Semke@pn_clare_semke Quote from David Lampitt: "The club needs a new owner. All the fans wd agree that having the right owner rather than the one with the biggest wallet is what we need. That wd be the best outcome for the football club." Link to comment Share on other sites More sharing options...
Torres Posted 17 February, 2012 Share Posted 17 February, 2012 I'd have thought so Trousers, yes. Not sure how many they'll lose now, but I suspect the FL want to make it enough to ensure the punishment of relegation. Link to comment Share on other sites More sharing options...
corky morris Posted 17 February, 2012 Share Posted 17 February, 2012 Sky saying 10 points. Just listened to some prat balme everyone but the blue few. Its the FL, its the PL...........absolutely no responsibility whatsoever to the skates. What a tosser. Link to comment Share on other sites More sharing options...
The Kraken Posted 17 February, 2012 Share Posted 17 February, 2012 News up on the Football League website....but nothing about points penalty.....yet. http://www.football-league.co.uk/championship/news/20120217/portsmouth-go-into-administration_2293322_2614386 You'd have thought if it was a run-of-the-mill -10 points we'd have heard something by now...? The -10 should be run of the mill; I'd suggest any further points will be dependent upon what the administrator finds, and how (if?) they come out of admin with a CVA or not. We know what Chanrai declared the debts to be, so we'll now likely see what they actually are. And then whether the likes of HMRC are willing to again accept less than full repayment of all debts. Link to comment Share on other sites More sharing options...
ludgershallsaint Posted 17 February, 2012 Share Posted 17 February, 2012 The phones are going to be busy trying to loan people out. Even if they get a club to pitch in only 3K of Kitson's wages it is 3K less to find. The key thing is what the FL does. Minus 10 and they still have a chance, minus 20 and it will be absolute slash and burn as they will, effectively, be already relegated. Link to comment Share on other sites More sharing options...
trousers Posted 17 February, 2012 Share Posted 17 February, 2012 Clare Semke@pn_clare_semke Lampitt: "It's been a very tough past two years-a really tough period and I don't think it's going to get any easier." Link to comment Share on other sites More sharing options...
The Kraken Posted 17 February, 2012 Share Posted 17 February, 2012 Clare Semke@pn_clare_semke Lampitt: "It's been a very tough past two years-a really tough period and I don't think it's going to get any easier." Not for you, Limpdick, I imagine the P45 will be in the post very soon. Link to comment Share on other sites More sharing options...
trousers Posted 17 February, 2012 Share Posted 17 February, 2012 @pn_clare_semke: Trevor Birch from new #pompey admins PKF visiting the club this afternoon with Lampitt who says he (DL) will talk to staff Link to comment Share on other sites More sharing options...
St Chalet Posted 17 February, 2012 Share Posted 17 February, 2012 Add Matt Slater to the list of losers today, thought he got 'it' but just proved to be a typical order taking lap up the BS journo like many others. Link to comment Share on other sites More sharing options...
pfc123 Posted 17 February, 2012 Share Posted 17 February, 2012 Trevor Birch is, in my opinion, the best thing that has happened to Portsmouth Football Club for years. They are now entering the end game. They will come out of this stronger and fitter with just the stability they need BUT only if Birch can find them a buyer. Birch understands football. He will cut them to the bone with the minimum damage to their playing prospects. He has the contacts and the respect. For Portsmouth Football fans, this is their Christmas. Yep, brilliant result and at last a chance to get Chainrai out at a price a new owner can afford. Brian and vince, come on down! Link to comment Share on other sites More sharing options...
rallyboy Posted 17 February, 2012 Share Posted 17 February, 2012 well that's the last we'll see of Chanrai, they certainly put him in his place! I didn't believe it would be that easy to shake off a loan shark, I guess the type of guy who would think nothing of killing someone who owes him a tenner is actually more respectful of the UK legal system than we realised...apart from having full control of the parent company, he has had it. A new dawn for pompey. They should get a few loans in and see if Appy's gritty troops can battle their way to play-off glory at a packed Fortress Fratton, with the FL financing admin as an apology for putting the club in that mess! I feel a centre circle speech coming on!...or is it an erection, I always get them mixed up... Well done Penny, the passion of the fans really shone through and made the judge see sense - it was the bestest 12th man what won it. And other similar cliched history-rewriting drivel that appeals to simpletons. pompey til I.......why have the lights gone off?... Link to comment Share on other sites More sharing options...
trousers Posted 17 February, 2012 Share Posted 17 February, 2012 (edited) Pompey Toaster@PompeyToaster Pfc asked HMRC if they would be allowed to pay wages and not pass PAYE & NI on. HMRC said that would be unacceptable. PFC did it anyway. HMRC then told PFC of intention to serve WUO. PFC promised to pay up, HMRC agreed not to proceed if paid. PFC reneged, HMRC hit them. Retweeted by Neil Allen Edited 17 February, 2012 by trousers Link to comment Share on other sites More sharing options...
trousers Posted 17 February, 2012 Share Posted 17 February, 2012 (edited) Clare Semke@pn_clare_semke Mr Justice Alastair Norris said of #pompey at High Court: "Portsmouth Football Club was bleeding, but was getting a regular transfusion from CSI." He added: "But CSI itself went into admin on the 25 Nov 2011 because one of its (parties) was under investigation into alleged asset stripping from a Lithuanian bank - so the blood transfusions stopped" So, conclusive proof (as if any was needed) that Pompey were never financially self-sufficient under CSI. Edited 17 February, 2012 by trousers Link to comment Share on other sites More sharing options...
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