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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Lord Duckhunter

Lord Duckhunter

Posted
Posted
Is it correct there was soething in the news of the World yesterday saying that the Pompey players will walkout en-masse if they do not get their wages this friday?

 

My mates Dad played for them in the 60's, but still goes down there a lot. He reckons Grant's told them he's off if there's any delay this month.

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stevegrant

stevegrant

Posted
Posted
Is it correct there was soething in the news of the World yesterday saying that the Pompey players will walkout en-masse if they do not get their wages this friday?

I don't think it actually said that, per se.

 

It said something along the lines that they would be entitled to serve 14-day notice on the club, but didn't actually say that the players would actually do it.

 

They quoted a player saying "I'm fed up of lying for this club, from now on I will tell the truth", which could make the next week or so interesting. I'd expect all journalists writing about Pompey this week will be making calls to Herman Hreidarsson to get this "truth"...

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Red Alert

Red Alert

Posted
Posted

With only 7 days to go, and they have yet to sell anyone could the unthinkable happen? Might they not sell anyone at all, keeping them ok on the field but what would be the ramifications of this off the pitch? Or are the other teams just waiting until the last minute to get them cheapest deal they can?

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DrZuess1979 the 2nd

DrZuess1979 the 2nd

Posted
Posted
With only 7 days to go, and they have yet to sell anyone could the unthinkable happen? Might they not sell anyone at all, keeping them ok on the field but what would be the ramifications of this off the pitch? Or are the other teams just waiting until the last minute to get them cheapest deal they can?

 

The board at Poopy have been stalling, left right and center. Just look at the James transfer.

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krissyboy31

krissyboy31

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To be fair I don't think the prospect of a derby game is going enough to get the players to work for free...

 

Nor do I. It's not as though they have many local players in the squad. Most like the majority of Premier League players are footballing mercenaries and if they don't receive what their contract says they should, they will be off (and probably sue the ass of the club for breach of contract, no doubt).

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Guy

Guy

Posted
Posted
With only 7 days to go, and they have yet to sell anyone could the unthinkable happen? Might they not sell anyone at all, keeping them ok on the field but what would be the ramifications of this off the pitch? Or are the other teams just waiting until the last minute to get them cheapest deal they can?

 

I suspect that the club is so far in the mire that they aren't even bothering to try and sell anyone and make a small dent in the debts. It's an all or nothing wait for a saviour.

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Chorlton

Chorlton

Posted
Posted

It could well be that things have gone a bit quieter down there, and people have not left (yet) as there IS something in these take over rumours. An ITK Skate I work with seems to think they have been talking for a few days now, though it is not certain to happen.

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pedg

pedg

Posted
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So any news on the 'hopefully' being lifted transfer embargo actually being lifted today?

 

I guess as 'hopeful' is less than 'certain' which in PFC speak is equal to 'no chance' that there is no need to maintain my inhalation?

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pedg

pedg

Posted
Posted
It could well be that things have gone a bit quieter down there, and people have not left (yet) as there IS something in these take over rumours. An ITK Skate I work with seems to think they have been talking for a few days now, though it is not certain to happen.

 

And how long would due dilligence take, or are they just going to skip that stage cos they don't need to many documents to tell them that pompey are in the poop?

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saintds

saintds

Posted
Posted
Please please please let the good players they have be gone by the time we play them. Anyone know of any interest in Utaka and the like?

 

Nothing about Utaka but there is this.

 

Pretty slow day today on the news front. Does that mean everything is out there in the public domain (both fact and speculation)? Is it just a waiting game now before the inevitable sales and the imminent court battle with HMRC?

 

Corpy, when you're done pruning, can you let us know that which we don't know but that we know you know?

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Joensuu

Joensuu

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Posted
Please please please let the good players they have be gone by the time we play them. Anyone know of any interest in Utaka and the like?

 

Only from the media... so take it all with a massive pinch of salt, but over the past couple of weeks all of the following have been mentioned:

 

James: Stoke (loan); Spurs (Loan/Free?)

Kaboul: Spurs; Man City; Sunderland; Lille; Lens

Nugent: Burnley (loan)

Belhadj: Sporting Lisbon; Wigan; Birmingham; Benfica; Blackburn

Williamson: Newcastle; Watford

Mullins: Stoke; Burnley; Middlesbrough

Diop; Blackburn

Piquionne (on loan): West Ham; Everton; Liverpool; Villa

Utaka: Celtic; Sochaux

Ashdown: QPR

Boateng: Sunderland

Dindane (on loan): Birmingham; Celtic

Ben Haim: Bolton

Begović: Spurs

Yebda (on loan): PSG; Inter; AC Milan; Juventus

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Saint_John

Saint_John

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Posted
So far the rumours that they could have their embargo lifted today have failed to materialise...can't say I'm surprised.

 

There is an article on the Skate news http://www.portsmouth.co.uk/sport/Pompey-set-to-cash-in.6010618.jp

which says

"Pompey are hopeful Udinese will agree to accept £400,000 and a renegotiated payment schedule..."

 

Note the word HOPEFUL.

 

 

Still no news on the 7 day appeal at the High Court, which they said last week "they were certain to win."(sic). I think today or tomorrow is the last day for the appeal and I cannot see anything on the High Court web site http://www.hmcourts-service.gov.uk/cms/cause.htm.

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Micky

Micky

Posted
Posted
I have it on good info that certain suppliers turned up at Pompey's training ground this morning and took away food supplies due to outstanding invoices remaining unpaid.

 

Looks like lunch may be a rather lean affair over the next few days.

 

Dear me - if true - that really is sad, I know there's no such thing as a free lunch these days, but a premiership team unable to pay to feed the staff sort of takes the biscuit (NPI).

 

Mind you, if the caterers are resigned to doing this to settle outstanding debts, how long before representatives of Lens, Watford, Chelsea etc turn up to reclaim players that have outstanding monies owed - desperate times call for desperate measures...!

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Chez

Chez

Posted
Posted
Just after James leaves for stoke i think we should make an offer for Begovic, he seems rather good and they would be fckd. As long as they sell Kaboul I dont care, between him and o'Hara thats all they have had playing well all season.

 

Prince Boateng has had a decent season for them. The lad Piquionne has improved too. Hreiderseen is a decent player as well. Don't underestimate them. They beat Sunderland in the last round. They must have something about them.

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pedg

pedg

Posted
Posted (edited)

Even if they get £15M for two players and the £2M from PL its not going to last long is it?

 

HMRC will definitely have to be paid.

Portapin were obviously owed the £7M TV money and don't appear to be scared of litigation.

Players will have to be paid.

 

and that's before Gady £9M, etc, etc, etc.

Edited by pedg
had liquidation in my mind.?!
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St Marco

St Marco

Posted
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A massive week then for Portsmouth. The make or break week you could say. They will find out about the appeal to hrmc, on friday the wages have to be paid and if are not isn't that 4 times out of the last 5 months? The embargo will or will not be lifted. Players could or could not be moved on. And the transfer window shuts meaning they have to make do with what they have on that closure plus no more ability to sell players to raise funds for 5 months.

 

The longer the week goes on you have to say the less likely they will be to getting any big fees for their players. I cannot see someone paying £10m for Kaboul with 20mins of the window left knowing full well that if Portsmouth don't sell they could pick him up for a free in a matter of weeks.

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OldNick

OldNick

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Posted

I must say I dont envy them. I remember the day when the people I knew at SMS told me there was nothing going to happen and that it looked like the end. I kept waiting and hoping but despair set in. All those deadlines drove me crazy. Thankfully we had a happy ending.

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saintds

saintds

Posted
Posted (edited)
It is funny how this pompey circus has suddenly come to have a direct effect us. If they fold we are one game away from Wembley in the FA Cup, there can be no arguements now, it would be fantastic for SFC if pompey cease to exist.

 

You mean two games, right?

 

Ignore me, just realised where the semis are played.

Edited by saintds
'cos I'm a ***t!
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Saint Keith

Saint Keith

Posted
Posted

did anyone see that cretin westwood on the telly at the weekend, shouting for "someone to come and invest in the best fans in the world"

 

what a complete ****

 

there is a monumental difference between investing with a realistic chance of seeing a return on that investment, and spunking money up the wall

 

the quickest way to end up with a small fortune owning pompey, is to start with a large one

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OldNick

OldNick

Posted
Posted

the silence is eerie. The papers have not had any really bad news for them for 24hours. Only talk of another lamb to the slaughter to buy them.

Has jacob come out with any other quote of reassurance? Have they put in for their appeal against the HMRC? So many questions..

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Chez

Chez

Posted
Posted

amusing news II: Due to five fans coming onto the pitch in protest against, well, I'm not sure what the protest is actually about really, but anyway, whatever it is specifically about the West Ham game has gone up a category security/safety wise, and now more policing is required at an additional cost to the club, not to mention the feignt possibility of a fine from the FA.

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Weston Saint

Weston Saint

Posted
Posted

I can see this thread coming back to bite us on the bum.

 

We have all the bragging right at present. Money, winning team, increasing gates, progress and no longer the butt of media. We are gaining respect from all quarters.

 

But, if we lose to Pompey in the FA cup a lot of the braging rights will return to them. I would have preferred we go out to any other club but them down the road. This game is so important. We must win. We have the momentum but at present they have a better team.

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Clapham Saint

Clapham Saint

Posted
Posted
Even if they get £15M for two players and the £2M from PL its not going to last long is it?

 

HMRC will definitely have to be paid.

Portapin were obviously owed the £7M TV money and don't appear to be scared of litigation.

Players will have to be paid.

 

and that's before Gady £9M, etc, etc, etc.

 

Thinking aloud here a little but...

 

They either need to raise enough from player sales to pay both the wages and HMRC before the end of January or they are f***ed.

 

In all likelihood they may also have to raise the cash to pay portapin and others too.

 

If they get to hearing of the winding up petition on the 11th and lose, the doors will be shut. Pretty much the worst outcome for everybody as not only will the club cease to trade but the amount of money that can be raised to pay creditors is minimal.

 

On that basis I would expect one of the charge holders to put them into administration before then as they will likely lose everything if they don't.

 

Any administrator will have to make a call on whether it is worth keeping them going to the end of the season before trying to sell the club or just shutting the doors anyway.

 

Keeping them going to the end of the season will costs A LOT in wages and so would have to be justified by a reasonable expectation of a sale for a decent amount (i.e. more than the costs of running the club in the interim).

 

The only real option is to either sell everyone on a high wage ASAP raising enough money to pay the rest to the end of the season and hopefully a sale, or release them all on frees to keep the running costs down.

 

In either event they will end up playing the youth team.

 

Even if they do sell everyone in January an administrator might still choose to close the doors and just give the cash raised to creditors, if he doesn't think he can sell the club...

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Pancake

Pancake

Posted
Posted

On that basis I would expect one of the charge holders to put them into administration before then as they will likely lose everything if they don't.

 

i may be wrong (and I usually am), but even if they are in Administration the Winding Up court order is still valid - ie the ball is now in the Adminstrators court to sort the money for the HMRC.

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Clapham Saint

Clapham Saint

Posted
Posted
i may be wrong (and I usually am), but even if they are in Administration the Winding Up court order is still valid - ie the ball is now in the Adminstrators court to sort the money for the HMRC.

 

Indeed you are. ;)

 

At the point that the club enters admin a moratorium (freeze) is placed on all creditors, including HMRC.

 

The problem for the directors at this point is that becuase the WUP is in place they can't put the club into administration themselves (as Rupes did) without applying to court.

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Pancake

Pancake

Posted
Posted
Indeed you are. ;)

 

At the point that the club enters admin a moratorium (freeze) is placed on all creditors, including HMRC.

 

The problem for the directors at this point is that becuase the WUP is in place they can't put the club into administration themselves (as Rupes did) without applying to court.

 

I see, gotcha.

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pedg

pedg

Posted
Posted

Another player possibly leaving pompey without them getting any money

 

http://www.eatsleepsport.com/birmingham-city/pompey-striker-eyed-1012222.html

Birmingham are interested in Portsmouth striker Aruna Dindane with his loan spell from Lens in doubt due to the club's cash problems.

The Ivory Coast forward has scored four goals in 12 games and Pompey had been given a option to sign him permanently for £4m when the deal was originally done in August.

 

It's understood his parent club have now asked FIFA to cancel his stay at Fratton Park and that could open the door to the Blues.

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