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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Lazlo78

Lazlo78

Posted
Posted

Stories of players choosing other smallish clubs over Pompey actually points towards a huge shift from Appy's "freebie" hunt (which turned out to be about offering mad wages to attract players) - could this really be the age of austerity for them?

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Pugwash

Pugwash

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Posted
The PL channelled £5m of their money due directly to football creditors - was that from their 2010 prize money then ?

 

Don't know. But an email I had from the Football League (not Prem) stated categorically that the club had not been advanced ANY payments before they came due.

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Torres

Torres

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Don't know. But an email I had from the Football League (not Prem) stated categorically that the club had not been advanced ANY payments before they came due.

 

Flies in the face of pretty much every other piece of information.

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rallyboy

rallyboy

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Posted

I'm sure the FL didn't advance them anything, and they won't know what the Prem did, but everyone agreed at the time, including the likes of AA and storrie, that they had been advanced money to get them to that summer.

So I think that was just the FL being 'clever' with words.

 

Meanwhile the financial gap between the divisions is ridiculous, if you are on the wrong side of it.

If we can stay up again, we will be looking at something like £75M in tv revenue.

What is it in League Two, about £1M?

 

Common sense would suggest that it will be impossible for a club to climb right through the divisions again without MAJOR external funding.

 

Never mind.

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Colinjb

Colinjb

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Posted

Common sense would suggest that it will be impossible for a club to climb right through the divisions again without MAJOR external funding.

 

Never mind.

 

Something the blue few seem to be overlooking/ignoring.

 

By going into fan 'ownership' their glass ceiling has been taken down a large amount. Regardless of how much they crow on they are not, have never been and will never match Barcelona's path, they are barely up to Exeter City's as they now are.

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The9

The9

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Posted (edited)
What happened to the £2.25m that's missing?

 

I'd hope it had already been removed from their payments and channelled to creditors as part of the CVA1, but most likely that would lead to hysterical laughter on here, and maybe it was annexed as part of CVA2 ? In short, dunno, but my theory is either that they already owe it to someone and the Prem have made sure they get it, or more likely, the payment is split over the year.

 

Dunno, anyone know ?

 

EDIT: I have a better theory, below.

Edited by The9
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The9

The9

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Posted (edited)
afaik £9m for the final year (although figures given to the council show £11m :? ).

 

http://www1.skysports.com/football/news/11661/8646585/Premier-League-won-t-budge-on-increased-parachute-payments

 

That article only says the proposed increase in PPs would be 23/18/9/9, not that it had been agreed, not that there's any negotiating likely as it's basically a gift from the PL.

Edited by The9
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The9

The9

Posted
Posted (edited)
What happened to the £2.25m that's missing?

 

Actually looking at the article http://www1.skysports.com/football/news/11661/8646585/Premier-League-won-t-budge-on-increased-parachute-payments, it implies that there's a solidarity payment with the Championship clubs of "£2.3m", so maybe the "£8m" includes that, and you only get the full "£8m" from the £5.75m and (actually) £2.25m if you stay in the Championship.

 

If not, your additional £2.25m solidarity payment was actually less than the (L1) £360k and (L2) £240k now proposed by the PL, which the article says are up 6.6% and 5.4% respectively on the current amount.

 

So it sounds like the Skates will get £5.75m + whatever the figure was before £360k (for having been in L1 the past season) rather than "£9m" because they're not in the Championship.

 

Anyone fancy blowing that theory out of the water, I am literally just making it up ?

Edited by The9
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The9

The9

Posted
Posted (edited)
Don't know. But an email I had from the Football League (not Prem) stated categorically that the club had not been advanced ANY payments before they came due.

 

This link confirmed something like it happened : http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8538457.stm

 

"The Premier League also withheld £2m of transfer payments and diverted a £7m slice of TV revenue to Chelsea and Watford to cover the signings of Glen Johnson and Tommy Smith."

 

Maybe "advanced" isn't the right word... they didn't give the money to Portsmouth at all, they sent it elsewhere, rather than giving it to Portsmouth to not pay Chelsea and Watford from money they were meant to be getting.

 

So we're both right, they advanced money to other teams on their behalf. ;)

Edited by The9
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Pugwash

Pugwash

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Posted
This link confirmed something like it happened : http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8538457.stm

 

"The Premier League also withheld £2m of transfer payments and diverted a £7m slice of TV revenue to Chelsea and Watford to cover the signings of Glen Johnson and Tommy Smith."

 

Maybe "advanced" isn't the right word... they didn't give the money kto Portsmouth at all, they sent it elsewhere, rather than giving it to Portsmouth to not pay Chelsea and Watford from money they were meant to be getting.

 

So we're both right, they advanced money to other teams on their behalf. ;)

 

Here's the response I got on 29 Feb 2012 when they went into admin:

 

Thank you for your email.

 

Portsmouth FC received a parachute payment from The Premier League as per

their normal course of payments to all of its present clubs and those

currently receiving parachute funding. The Premier League did not release

any funding early and Portsmouth were treated equally with all other clubs

paid.

 

As you may have noted, Portsmouth Football Club has been deducted ten points

in accordance with Football League rules and regulations. For the latest

official statement from The Football League please visit our website here

 

http://www.football-league.co.uk/footballleaguenews/20120217/pompey-given-10

-point-deduction_2293334_2614922.

 

The club is now in administration following an application by the directors

to the High Court. The High Court has determined the appointment of Trevor

Birch at PKF as administrator, having being nominated by other creditors

including HMRC. The League will now work with the administrators as they

seek to find a purchaser for the club.

 

At present The League cannot currently comment any further in relation to

Portsmouth and any further statement will appear on our website in due

course.

 

Thank you for contacting The Football League.

 

Regards,

 

Andrew Pomfret

Customer Services Officer

The Football League Limited

Email - enquiries@football-league.co.uk

http://www.football-league.co.uk

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Doctoroncall

Doctoroncall

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Posted

How the perceived mighty have fallen... Paul Dickov has taken charge of Doncaster Rovers. The club had been searching for a manager since Brian Flynn opted to return to his role as director of football shortly after securing the League One title. The 40-year-old former Scotland international, who has beaten Michael Appleton to the job.

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Fowllyd

Fowllyd

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Posted
Here's the response I got on 29 Feb 2012 when they went into admin:

 

Thank you for your email.

 

Portsmouth FC received a parachute payment from The Premier League as per

their normal course of payments to all of its present clubs and those

currently receiving parachute funding. The Premier League did not release

any funding early and Portsmouth were treated equally with all other clubs

paid.

 

As you may have noted, Portsmouth Football Club has been deducted ten points

in accordance with Football League rules and regulations. For the latest

official statement from The Football League please visit our website here

 

http://www.football-league.co.uk/footballleaguenews/20120217/pompey-given-10

-point-deduction_2293334_2614922.

 

The club is now in administration following an application by the directors

to the High Court. The High Court has determined the appointment of Trevor

Birch at PKF as administrator, having being nominated by other creditors

including HMRC. The League will now work with the administrators as they

seek to find a purchaser for the club.

 

At present The League cannot currently comment any further in relation to

Portsmouth and any further statement will appear on our website in due

course.

 

Thank you for contacting The Football League.

 

Regards,

 

Andrew Pomfret

Customer Services Officer

The Football League Limited

Email - enquiries@football-league.co.uk

www.football-league.co.uk

 

I'm sure that's all true, but it doesn't relate to their previous time in admin, which is the time that parachute payments are thought to have been advanced. When the FL says that Pompey were treated equally, they mean that when the payment was made in early 2012 there was no advance or early release of money. It doesn't say anything about what happened two years earlier, nor would I expect the FL to have any knowledge of that.

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Pugwash

Pugwash

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Hate to say it Pugwash, but I get the feeling Andrew is telling you a porky. If you can get past the headline without dying of laughter:

 

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8453406.stm

 

Made me smile!

 

I think Mr Pomfret was being economical with the truth, without necessarily stating an untruth. His email was following the second admin in 2012 and he is probably correct in saying that payments were not released early. The PL merely re-directed the previous season's payments directly to the football creditors as they became available, so he was probably factually correct.

 

I did respond that email, but then got a stock reply. What's the point in trying to communicate with the blinkered bastards.

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Pugwash

Pugwash

Posted
Posted
I'm sure that's all true, but it doesn't relate to their previous time in admin, which is the time that parachute payments are thought to have been advanced. When the FL says that Pompey were treated equally, they mean that when the payment was made in early 2012 there was no advance or early release of money. It doesn't say anything about what happened two years earlier, nor would I expect the FL to have any knowledge of that.

 

See post above. This is the text of my original complaint to put it into context:

 

Sent: 13 February 2012 20:18

To: FL

Subject: Portsmouth Football Club 2010 CVA

 

Sirs,

 

I write with concern at the continuing financial crisis at Portsmouth Football Club.

 

It appears that Parachute Payments will be advanced early, yet again, to support what is clearly an insolvent and currently unsustainable business. This raises a number of questions regarding competitive and financial advantage that are of great interest to other football clubs in the Championship and to existing CVA creditors:

 

1) The remaining parachute payments represent the only significant source of guaranteed income that is likely to accrue to Portsmouth Football Club over the next few years. Another early advance of these will almost certainly compromise the proper servicing the 2010 CVA, none of which has yet been paid (the first payment being due in March). As one of those people affected by the 2010 CVA, I would ask how can creditors ever be assured of being paid what was agreed?

 

2) It appears likely that Portsmouth FC will again use company administration as a means to protect the club from winding-up procedures issued by its creditors. Should this occur, can the existing 2010 CVA creditors be assured that the FL will insist upon the complete fulfilment of the conditions of the 2010 CVA, as a condition of the club’s continued membership of the League after exiting a second administration?

 

3) Have Portsmouth FC committed to high wage earners through the club’s ‘Quality over Quantity’ policy in the tacit knowledge that the Premier League would advance PPs to bail them out if they got into financial difficulties?

 

4) Is this early advancement of Parachute Payments also available to Hull City, Burnley, West Ham United, Blackpool and Birmingham City football clubs to ensure those clubs enjoy the same competitive advantage as Portsmouth in their bids for early returns to the Premier League?

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View From The Top

View From The Top

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Posted
Can't believe DC would have signed for - what is it - about £1500 a week?

 

They have a pot of about £1.1m so he may be on more than that but they cannot spend anything above that.

 

Let's face it, it's his last playing job, he doesn't have to move and as he's injured so often he'll get plenty of time home with the kids.

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Ken Tone

Ken Tone

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Posted
They have a pot of about £1.1m so he may be on more than that but they cannot spend anything above that.

 

Let's face it, it's his last playing job, he doesn't have to move and as he's injured so often he'll get plenty of time home with the kids.

 

And it's a 2 year deal, so he'll still be getting paid at 37. Gives him some pocket money!

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The9

The9

Posted
Posted (edited)
Hate to say it Pugwash, but I get the feeling Andrew is telling you a porky. If you can get past the headline without dying of laughter:

 

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8453406.stm

 

Same thing I said. Technically speaking the Skates weren't advanced anything from the parachute payments, but the PL instead reallocated £7m they were due to give PFC at the end of 2009/10 and instead paid other clubs they owed money to, rather than giving it to PFC.

 

It wasn't a parachute payment because they were still a Prem team at the time, it was the last tv payment (i.e. the ones delivered at this time of season) before they were relegated from the Prem in April/May 2010.

 

So they were not given PPs in advance, instead the PL paid off some of the football debts PFC had using money they were supposed to get.

 

EDIT : Also noticed Pugwash has also noted this, above. Didn't even spot that his letter was from 2012, there's a whole new can of worms. ;)

Edited by The9
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eurosaint

eurosaint

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Can't believe DC would have signed for - what is it - about £1500 a week?

 

It's still £72 grand a year, which for playing football just above non league level is not at all bad !

When you consider that it is approximately 3 times the average wage in the country then he should be happy especially as he has the opportunity to get into coaching at the same time which will open new career opportunities for the future !

You would also expect that he has built up a significant pot in his better days as a premier league and international player !!

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Pugwash

Pugwash

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Posted
It's still £72 grand a year, which for playing football just above non league level is not at all bad !

When you consider that it is approximately 3 times the average wage in the country then he should be happy especially as he has the opportunity to get into coaching at the same time which will open new career opportunities for the future !

You would also expect that he has built up a significant pot in his better days as a premier league and international player !!

 

Point is he's too good for L2. Should still be playing in L1 or even the Championship with his quality. Yeovil or Bournemouth might have had him if his agent was on the ball.

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eurosaint

eurosaint

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Posted
Point is he's too good for L2. Should still be playing in L1 or even the Championship with his quality. Yeovil or Bournemouth might have had him if his agent was on the ball.

 

I think that you're right in terms of his quality but at the age of 35 with a dodgy injury record there might not be many takers !

Anyway, good luck to him, I hope that the 4th division cloggers don't damage him for life !!

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Ken Tone

Ken Tone

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Posted
Point is he's too good for L2. Should still be playing in L1 or even the Championship with his quality. Yeovil or Bournemouth might have had him if his agent was on the ball.

 

You're probably right, but will he still be that good when he is 37?

 

Remember, no one signed him after he left Saints until the skates did -- presumably because of his injury record. If I were managing Bournemeuth etc I'd have offered him a very short term deal, maybe only a game by game contract, not a 2 year one. Sounds as if he's interested in moving into coaching and the skates have promised him the opportunity during his time there, so i suppose he might see this as an investing in his career development phase of his life , rather than an earning big money phase.

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rallyboy

rallyboy

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Posted

He's a really good signing at that level.....but he's always one tackle away from six months out.

 

So with a small squad he's a risk, but I'm sure they know what they are doing.

Connolly does stand out from most of their players - I have yet to hear him announce that the few are the bestest fans ever.

 

Maybe he's too sharp to be dropped into the lazy media interview template -

Only one club I wanted to come to, best fans, massive club, sleeping giant, offered more money but turned it down to come here, great history, ground is s fortress, other club's cup finals, envy of all others, ripping up the division, etc.

 

And however much they love him when he scores goals, more than other players he will always be balancing on that thin fence between hero...and villain.

Cos he's a fecking scummah!

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Jez

Jez

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Fair play from Connolly....

 

http://www.portsmouth.co.uk/sport/pompey/connolly-great-to-be-back-at-pompey-1-5124703

 

‘There might be other teams in League One – but I am not sure they will be as good a club as Portsmouth.

 

The News understands Connolly’s contract can be ripped up at any time if he is injured for 10 successive weeks.

 

They were terms stipulated by the 35-year-old himself, eager to prove he is not motivated by money.

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holepuncture

holepuncture

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Posted
Fair play from Connolly....

 

http://www.portsmouth.co.uk/sport/pompey/connolly-great-to-be-back-at-pompey-1-5124703

 

‘There might be other teams in League One – but I am not sure they will be as good a club as Portsmouth.

 

The News understands Connolly’s contract can be ripped up at any time if he is injured for 10 successive weeks.

 

They were terms stipulated by the 35-year-old himself, eager to prove he is not motivated by money.

 

Ten weeks is a long time in football and a two month injury period sounds about the normal time injured for agent DC, pledges will disolve week by week as agent DC kicks back on the injury bench!

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LostBoys

LostBoys

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Posted
Fair play from Connolly....

 

http://www.portsmouth.co.uk/sport/pompey/connolly-great-to-be-back-at-pompey-1-5124703

 

‘There might be other teams in League One – but I am not sure they will be as good a club as Portsmouth.

 

The News understands Connolly’s contract can be ripped up at any time if he is injured for 10 successive weeks.

 

They were terms stipulated by the 35-year-old himself, eager to prove he is not motivated by money.

 

I am pleased for DC and his performance for us against Plymouth was one that I will remember for a long time. When he started for Pompey he was abused and called a scummer but when he started scoring they now love him. Excellent player blighted by injury but did a good job for us.

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Ric

Ric

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Posted
I am pleased for DC and his performance for us against Plymouth was one that I will remember for a long time. When he started for Pompey he was abused and called a scummer but when he started scoring they now love him. Excellent player blighted by injury but did a good job for us.

 

That's about usual for that lot. The way players change from hero to villain and back again... I reckon they should do a draw before each match to decide what they currently think about each player. Perhaps they could do another at half time, in case they get bored of players having the "hero" or "villain" tag consistently for an entire 45 minutes.

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lifeintheslowlane

lifeintheslowlane

Posted
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I was wondering, as we're at a point now where looking on the skates as rivals is rather pointless should we stop singing the Que Sera song. I find it embarrassing that something that figures like sinking rowing boat on the horizon...viewed through the wrong end of a telescope, should be afforded a page in the Saint's Songbook.

 

Do Manure sing songs about Accrington Stanley?

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Dark Munster

Dark Munster

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I am pleased for DC and his performance for us against Plymouth was one that I will remember for a long time. When he started for Pompey he was abused and called a scummer but when he started scoring they now love him. Excellent player blighted by injury but did a good job for us.

Indeed, when we were in L1 it could be argued that he would've been one of our best players, if only he hadn't spent so much time in the treatment room.

 

Anyway, I'm sure he won't spend too much time in Cheats FC's treatment room. No more than 9 weeks and 6 days, before he'll bravely limp back on the field (for a few minutes, at least).

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Dr Who?

Dr Who?

Posted
Posted
I was wondering, as we're at a point now where looking on the skates as rivals is rather pointless should we stop singing the Que Sera song. I find it embarrassing that something that figures like sinking rowing boat on the horizon...viewed through the wrong end of a telescope, should be afforded a page in the Saint's Songbook.

 

Do Manure sing songs about Accrington Stanley?

 

No, but they did sing songs about City when they were right at the bottom. I say we revel in it as much possible. They will always be our rivals no matter how far apart on the pitch we are.

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