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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Matthew Le God

Matthew Le God

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Posted (edited)
Portsmouth aren't allowed to pay any transfer fee for players or compensation for managers until their football debt has been paid off, which won't be for a long time.

 

Seems at odds to this website : http://www.transfermarkt.co.uk/en/fc-portsmouth/transfers/verein_1020.html

 

Although it doesn't mention any specific figures, it does suggest that they have been involved in cash transactions on three occasions this season. Would be interesting to find out if the amount that was due on the 19th November was paid ;)

 

No it doesn't. Potts, Carson and Marquis have "transfer dates" next to them but all three were loans.

 

Their chief executive has confirmed they can't spend money on transfers...

 

Catlin: Forget Pompey paying out transfer fees

 

Mark Catlin has warned it could be years before Pompey are able to pay transfer fees for new recruits.

 

Matty Blair heads a quartet of new players who could today join the Blues on permanent deals.

 

All four would be on free transfers – a market Guy Whittingham will have to operate in for a while.

 

In accordance with Football League stipulations when granting Pompey membership last month, the club are not permitted to buy players.

 

That is until debts to creditors, primarily the PFA, are settled first.

 

The Blues owe former players such as Dave Kitson, Liam Lawrence and Tal Ben Haim around £8m in compromise agreements.

 

As a result, they will be prioritised rather than allowing the club to bring in other players on transfer fees, leaving Whittingham to continue shopping for free agents.

 

And it is a restriction Pompey’s chief executive agrees with.

 

Catlin said: ‘This was part of our agreement to get the Football League share (membership).

 

‘When you look at it, we still owe money to players as part of the compromise agreements and it would be slightly immoral to go and buy players.

 

‘So, under sanctions put into place by the Football League, we cannot pay money for players until we clear our debts.

 

‘That is part of the deal and there is nothing we can do about that.

 

‘Even if we do better than expected financially, part of that will be used to pay debts quicker.

 

‘It is irrelevant whether the new owners have the funds to start buying players because we are not allowed to do it, anyway.

 

‘There are authorities owed money such as the PFA and other clubs. But, predominantly, it is the players and their compromise agreements.

 

‘How long this will be the case is an open-ended question and depends on how well we are going as a club and when debts are paid off.’

 

Pompey’s remaining two parachute payments from the Premier League will go towards fulfilling those player compromise deals.

 

The first of them, due in August, will also focus on repaying short-term loans given to the Pompey Supporters’ Trust by property developer Stuart Robinson and Portsmouth City Council.

 

In the meantime, the Football League have also ruled 50 per cent of any future player sales must be used to reduce debts.

 

The remainder will be allowed to be used in the running of the football club – but not on transfer fees.

 

Catlin added: ‘The key is being responsible and that is what being a community club is all about.

 

‘Some clubs want the rich sugar daddies willing to pump money in to cover players, meaning you are reliant on that person.

 

‘But as a football club we want to be sustainable and stand on our own two feet.

 

‘That has to be the way forwards.’

 

http://www.portsmouth.co.uk/sport/pompey/catlin-forget-pompey-paying-out-transfer-fees-1-5072403

 

Plus their chairman confirms they can't pay compensation for a manager in this interview...

 

http://www.expressfm.com/local/podcasts/the-football-hour-933450/

Edited by Matthew Le God
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Waterside.saint

Waterside.saint

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... Catlin said: ‘This was part of our agreement to get the Football League share (membership).

‘When you look at it, we still owe money to players as part of the compromise agreements and it would be slightly immoral to go and buy players...

 

Only 'slightly' immoral? thats like being 'only a little bit' pregnant: he's missed the point that either a thing is just plain wrong, or it ain't.

But 'right and wrong' have always been a bit of a grey area for that lot...

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Torres

Torres

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Approach manager of team top of their division, knowing it'll be unsuccessful, so they can claim to have tried to get the best when they end up appointing Awford. There's an added bonus of the opportunity for a bit of Football League bashing and crying about it not being fair and being punished many times for the same offence too.

 

Classic Pompey stuff.

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aintforever

aintforever

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All blows a hole in theory that the parachutes have been set aside to pay off the footballing debts. They are obviously being used as cash flow and the millions of debts have just been kicked into the grass. Don't worry about it now, something will turn up.

 

I expect they will pull out another couple of hundred grand out of the 'debt money' to finance this change of manager. The problem is for a skint League 2 club without parachutes a couple of hundred grand is alot of money.

 

I fully expect them to hold their ex-players to ransom again and try and renegotiate the debts. Probably this time next year.

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hutch

hutch

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#Factless has tweeted previously that the earliest that the skates will be able to buy a player will be Jan 2016 having cleared the debt at Xmas 2015.

 

That is based on clearing the debt early.

Aaah, so that explains why the board resolutely rejected every single request from the manager to inrease his budget by even a single penny more to bring in more players to increase the squad.

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trousers

trousers

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#Factless has tweeted previously that the earliest that the skates will be able to buy a player will be Jan 2016 having cleared the debt at Xmas 2015.

 

That is based on clearing the debt early.

 

You git! I just choked on my cornflakes when I read your last sentence!

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trousers

trousers

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All blows a hole in theory that the parachutes have been set aside to pay off the footballing debts. They are obviously being used as cash flow and the millions of debts have just been kicked into the grass.

 

 

All of which makes a mockery of the parachute payment system.

 

The PPs were introduced to help clubs manage premier league running costs in a lower league. That predominantly means running down or paying off player contracts.

 

The fact that Pompey have seemingly chosen to use the PPs for anything BUT clearing off player debts and instead use it to help them avoid relegation and/or secure promotion (how's that going btw?!) says all you need to know about the club.

 

Same old Pompey, always cheating.

Edited by trousers
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OldNick

OldNick

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All of which makes a mockery of the parachute payment system.

 

The PPs were introduced to help clubs manage premier league running costs in a lower league. That predominantly means running down or paying off player contracts.

 

The fact that Pompey have seemingly chosen to use the PPs for anything BUT clearing off player debts and instead use it to help them avoid relegation and/or secure promotion (how's that going?!) says all you need to know about the club.

 

Same old Pompey, always cheating.

imagine if the extra PP's had not been given, eg from the new tv contract. It must be an extra 4-5 m. In the last couple of years
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rallyboy

rallyboy

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Don't mock, when they gave away more cut-price season tickets than expected, the first thing they did was put the extra money into clearing debt and paying off the small creditors.

They didn't just offer higher wages to loan players, take a punt of promotion, or sign a keeper that Bury couldn't afford.

 

That would have been an indication that nothing had changed since the nasty criminals ran the old club - the club that gloriously won the cup against all odds (and had a bit of historical debt that was a long time ago and has really got nothing to do with the current regime).

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Colinjb

Colinjb

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The phew are also now debating the merits of Martin Jol and Dave Jones!

 

Journalist: So, Martin, what attracted you to Portsmouth?

 

MJ: Well, my good friend Avram told me about zhe local entertainment......

Edited by Colinjb
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andysstuff

andysstuff

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@pn_neil_allen: RT @SOS_Pompey: @pn_neil_allen as a sign of solidarity we would like ppl to sing 'Blue Army' for the first 15 mins on Wednesday. Please retweet!

 

Solidarity with what or whom? Surely the bestest aren't falling out amongst themselves after what must be all of ten months?

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andysstuff

andysstuff

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But they couldn't have signed him anyway, could they? They'd have to have paid compensation and I didn't think they were allowed to do that

 

What I can't understand is that if they can't sign a manager why do they keep tapping them up? Although it's cood to see clubs giving them short shrift.

 

Makes you wonder the quality of the 200 odd applicants they had if they're still sniffing round elsewhere.

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Weston Super Saint

Weston Super Saint

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I hope this list of applicants gets published.

 

Catlin, who has declined to discuss the names of applicants, has revealed Pompey’s seven-man board will be involved in interviewing candidates and will have the final say.

 

Loving the new era of transparency :D

 

Also, £1,000 for a share buys you absolutely NO say whatsoever in the running of the club :D

 

http://www.portsmouth.co.uk/sport/po...boss-1-5721427

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mcjwills

mcjwills

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I feel sorry for Wigan, Sheffield Wednesday and other managerless clubs who are going to have to wait and play second fiddle to the Few cos they will have first choice on the best manager.

 

Oi you trying to get coffee over my keyboard with statements like that ?

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Gingeletiss

Gingeletiss

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A company calling themselves "Portsmouth Football Club" might have been founded in 1898 but that company doesn't exist anymore so really I don't understand why they cling to this....well, I do...mainly because they're ***ts.

I've said this so many times.

 

Proud history my arris, are they including the five administrations in that, or the further two insolvency events. I truly hope this club goes to the wall, and I would not say that about any other football club, no matter what the league.

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trousers

trousers

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http://www.newsnow.co.uk/A/682847338?-11209:804

 

A good read from a Oxford fan about Pompey

 

Ian Lenagan referred to them as a 'failing club' which is a little ungracious but ultimately true. In his defence, it was said under pressure, but Portsmouth fans were incredulous at the slight. They're fan-owned, they're HUGE and they've got a history to die for. Hear them roar.

 

This delusional behaviour should be enough to put Chris Wilder off whether we were top of the division or not. Portsmouth may have taken a worthy step in the right direction, but the corner they're turning is a very long one.

 

When I started going regularly to football, Portsmouth were just another lower-league team. They were, to me, no different to, say, Lincoln City or Exeter. We seemed to be kindred spirits for a period; having very similar levels of success, mostly around the Championship.

 

Since 1980 Portsmouth have won two domestic divisional titles, three promotions and one major domestic trophy. We've won two domestic titles, two promotions and one major domestic trophy. On balance, their successes probably slightly outstrip our, but what I'm saying is that this massive club, in reality, has a fairly moderate history.

...
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Saint Mikey

Saint Mikey

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I'd love him to get the job. Claridge talks a lot of sense about Football League matters, but Sid Lowe talks eloquently about La Liga and I don't expect him to be getting a job there anytime soon. After watching that doc on Claridge's ill fated management of Weymouth and having this length of time out of the game - it could only result in a lot of laughs.

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