Chin Strain Posted 1 February, 2010 Share Posted 1 February, 2010 (edited) My 2p. They will survive until the end of the season but finish bottom. They will beat us in the cup 1-2 at SMS. They will go into administration during the close season and start the CCC season on minus points. Unless they get 'investment' (in the loosest sense of the word, i.e. someone with money to burn / launder) they haven't got the means to last to the end of the season. They could get a loan...but who will give them that? They have a wage bill of approx £3m per month, a tax bill of £7.5 - £11m, and have raised only £8m this week. Additionally, Gaydamak is owed £9m, which is now overdue, and the re negotiated deals with the other clubs have payments that are due starting tomorrow. How on earth will they make it to the end of the season? Their only chance of surviving is if someone comes and buys the club for an amount in excess of the worth of the assets. The ground will go to Chainrai, so that leaves a bid for a CCC club with -10 points and no ground or training ground, that has to be in excess of the value of the playing staff....approx £15 - £20m. Who is going to think that's a good idea? I firmly believe that they will go out of business. Oh, and don't forget that Chainrai's loans were 'short term'. I would imagine he's due an instalment. Even at our worst we weren't having our website turned off, stadium announcer and caterers going unpaid, Academy transport being repossessed etc. They are in serious, serious ****. Edited 1 February, 2010 by Chin Strain Link to comment Share on other sites More sharing options...
Chin Strain Posted 1 February, 2010 Share Posted 1 February, 2010 The money they have got in in transfers - it may well be in installments but I'm sure they can sort out and installmet package with the HMRC. I don't believe that Gaydamak Jr is really owed however many millions he says he his and the wages will be covers by someone. They have no income to pay anyone anything in instalments. Link to comment Share on other sites More sharing options...
teamsaint Posted 1 February, 2010 Share Posted 1 February, 2010 quite how the guardians of the national game can allow them to continue to take players onto the books whilst being unable to pay their existing staff, players, local creditors and hmrc, to name but a few, is well beyond my understanding. HOW are they planning to pay ohara, and any others? Well its certainly not with their own money. Link to comment Share on other sites More sharing options...
Windmill Arm 2 Posted 1 February, 2010 Share Posted 1 February, 2010 thats not true according to Peter Storrie - we have appealed and we are awaiting the response LOL!!!!!!!! Link to comment Share on other sites More sharing options...
Merovingian Posted 1 February, 2010 Share Posted 1 February, 2010 Manuel Henrique Tavares Fernandes has had his medical in Italy and will be joining Pompey within the next day or two. He had previously failed a medical at Internazionale a few days ago. This has opened the door for Pompey to sign him on loan for the rest of the season. Apparently he is in Italy awaiting a flight to ratify his signing. Pompey had all papaerwork apart from his signature ready. F.A. will wait for player. Link to comment Share on other sites More sharing options...
Whitey Grandad Posted 1 February, 2010 Share Posted 1 February, 2010 Just a thought.... I know that the PL dock 9 points for administration because they play 38 games to our 46, but if (make that when) they do get relegated and assuming that similar rules will apply to them to those applied to us, they will be playing in the CCC with -9 points carried over, and 46 games to play next season. Could the Football League increase the penalty? Link to comment Share on other sites More sharing options...
Gorgiesaint Posted 1 February, 2010 Share Posted 1 February, 2010 Unless they get 'investment' (in the loosest sense of the word, i.e. someone with money to burn / launder) they haven't got the means to last to the end of the season. They could get a loan...but who will give them that? They have a wage bill of approx £3m per month, a tax bill of £7.5 - £11m, and have raised only £8m this week. Additionally, Gaydamak is owed £9m, which is now overdue, and the re negotiated deals with the other clubs have payments that are due starting tomorrow. How on earth will they make it to the end of the season? Their only chance of surviving is if someone comes and buys the club for an amount in excess of the worth of the assets. The ground will go to Chainrai, so that leaves a bid for a CCC club with -10 points and no ground or training ground, that has to be in excess of the value of the playing staff....approx £15 - £20m. Who is going to think that's a good idea? I firmly believe that they will go out of business. Oh, and don't forget that Chainrai's loans were 'short term'. I would imagine he's due an instalment. Even at our worst we weren't having our website turned off, stadium announcer and caterers going unpaid, Academy transport being repossessed etc. They are in serious, serious ****. Pretty good synopsis IMO but like others, I'm concerned that somehow justice will not prevail and they will survive. Interestingly whilst Kezman's wiki site says he's on a 6 mth loan deal from PSG, I did check the PSG official site and whilst my French isn't great, I couldn't see anything about it. If they have managed to sign Fernandes & Kezman on loan then it is nothing short of a disgrace given they failed to pay wages again today. Link to comment Share on other sites More sharing options...
Chin Strain Posted 1 February, 2010 Share Posted 1 February, 2010 Manuel Henrique Tavares Fernandes has had his medical in Italy and will be joining Pompey within the next day or two. He had previously failed a medical at Internazionale a few days ago. This has opened the door for Pompey to sign him on loan for the rest of the season. Apparently he is in Italy awaiting a flight to ratify his signing. Pompey had all papaerwork apart from his signature ready. F.A. will wait for player. Don't they have scheduled air ambulances? Link to comment Share on other sites More sharing options...
Merovingian Posted 1 February, 2010 Share Posted 1 February, 2010 who knows, we won't sign him Link to comment Share on other sites More sharing options...
Chin Strain Posted 1 February, 2010 Share Posted 1 February, 2010 Just a thought.... I know that the PL dock 9 points for administration because they play 38 games to our 46, but if (make that when) they do get relegated and assuming that similar rules will apply to them to those applied to us, they will be playing in the CCC with -9 points carried over, and 46 games to play next season. Could the Football League increase the penalty? I'd be pretty certain that if they go into admin the wrong side of the deadline, that -10 will apply next season. The right side of the window would be -9 this season Link to comment Share on other sites More sharing options...
Minsk Posted 1 February, 2010 Share Posted 1 February, 2010 the loan window is not still open, thats only for FL clubs Correct. The loan window is for FL clubs not PL ones. Link to comment Share on other sites More sharing options...
Chin Strain Posted 1 February, 2010 Share Posted 1 February, 2010 Pretty good synopsis IMO but like others, I'm concerned that somehow justice will not prevail and they will survive. Maybe....but time is awfully short, and their case is so complex. If you were a buyer would you know where to start? If you don't pay off SG, he'll retain the land around FP. Even of you could negotiate to buy the ground from Chainrai you couldn't develop it without SG on board. It would be bad enough if they only owed Barclays and NU, like us, but this set up is ridiculous. Add in the fact that even Mark 'Comical Ali' Jacob has suddenly started distancing himself from the dealings, and you start to think that they really are close to the edge. It's a nightmare for them. Link to comment Share on other sites More sharing options...
Gorgiesaint Posted 1 February, 2010 Share Posted 1 February, 2010 Maybe....but time is awfully short, and their case is so complex. If you were a buyer would you know where to start? If you don't pay off SG, he'll retain the land around FP. Even of you could negotiate to buy the ground from Chainrai you couldn't develop it without SG on board. It would be bad enough if they only owed Barclays and NU, like us, but this set up is ridiculous. Add in the fact that even Mark 'Comical Ali' Jacob has suddenly started distancing himself from the dealings, and you start to think that they really are close to the edge. It's a nightmare for them. I agree - in their position no-one with even half a braincell would invest in them. Let's just hope that HMRC do the decent thing. It will be a mercy killing!! Link to comment Share on other sites More sharing options...
Gravesend Saint Posted 1 February, 2010 Share Posted 1 February, 2010 From BBC: http://news.bbc.co.uk/sport1/hi/football/8491915.stm 2159: We do, however, have some transfer news, with AP claiming French second-division side Bastia has signed midfielder Gauthier Mahoto from cash-strapped Portsmouth. Link to comment Share on other sites More sharing options...
Crab Lungs Posted 1 February, 2010 Share Posted 1 February, 2010 (edited) I've definitely got angrier and more repulsed at Portsmouth's behaviour - especially towards their existing staff. Now that they have signed four players in the window with wages probably in excess of £100,000 per week whilst failing to pay their current staff on time for the fourth time this season. I honestly hope that this horrible, cheating, odious, cretinous, revolting and disgusting football club (and its owners) disappear from football altogether - but only after we've nailed the last nail in their coffin. I can only hope that HMRC reel those c()nts at the Premier League in as well as they lifted an embargo that should never have been lifted - tantamount to releasing a serial rapist in a woman-only prison because he promised he wouldn't "touch anyone" Their behaviour has been nothing short of despicable and as a club they are rotten from the top down, right down to that c()nt with the bell. And don't get me started on their chief exec - possibly one of the most disgraceful human beings in football. The sooner you go bust, the better, Portsmouth. I would happily p1ss over your grave and do so with great pleasure. Edited 1 February, 2010 by Crab Lungs Link to comment Share on other sites More sharing options...
saintkiptanui Posted 1 February, 2010 Share Posted 1 February, 2010 I'd be sick on their grave. Link to comment Share on other sites More sharing options...
S-Clarke Posted 1 February, 2010 Share Posted 1 February, 2010 They've just signed Ricardo Rocha too... Link to comment Share on other sites More sharing options...
rallyboy Posted 1 February, 2010 Share Posted 1 February, 2010 I thought it was bad that a company with a £75M turnover couldn't pay the £2M wages, I then thought it was ludicrous they couldn't pay the web company £2000. We now know they couldn't pay the match announcer £60, but tonight I have been told of a bloke who sold them goods for £35 and they didn't have enough to pay him! Any advance on the cost of one match ticket? Have we found the creditor on the end of the very long queue, or have they shafted someone for even less?... Meanwhile the loanee wages keep stacking up. They have given up on paying debts, it's just blatant theft now. Link to comment Share on other sites More sharing options...
Saint in Paradise Posted 1 February, 2010 Share Posted 1 February, 2010 (edited) I hope HMRC do not give in and agree a repayment scheme, I hope they really do finish them off especially as from what I remember Pompey have already defaulted on a previous repayment scheme with HMRC. However IF HMRC do give in I hope one of the other listed people who are owed go for the jugular. I know this seems nasty and I do feel a little bit of sympathy towards a few, very few, of their fans but reading how they have treated all of the people they owe money too well it is time they ( Pompey FC ) were smashed. . Edited 1 February, 2010 by Saint in Paradise Link to comment Share on other sites More sharing options...
Whitey Grandad Posted 1 February, 2010 Share Posted 1 February, 2010 I'd be pretty certain that if they go into admin the wrong side of the deadline, that -10 will apply next season. The right side of the window would be -9 this season Ta. That would make sense. Link to comment Share on other sites More sharing options...
Gemmel Posted 1 February, 2010 Share Posted 1 February, 2010 They have given up on paying debts, it's just blatant theft now. Assuming you are correct, would take make the Directors liable, if they went into liquidation or administration Link to comment Share on other sites More sharing options...
Crab Lungs Posted 1 February, 2010 Share Posted 1 February, 2010 (edited) What rallyboy says is spot on - it's theft now - and it really is. I just had a thought though... assuming they don't have any football debts* like the Premier League have said then surely that must mean they only owe HMRC and private creditors (Gaydamak, Chainrai etc) - and therefore that could be their route out of the mire? * even though they must have - all the defaulted repayments to clubs across the globe in Dec? Edited 1 February, 2010 by Crab Lungs Link to comment Share on other sites More sharing options...
Saint Keith Posted 1 February, 2010 Share Posted 1 February, 2010 I'd be pretty certain that if they go into admin the wrong side of the deadline, that -10 will apply next season. The right side of the window would be -9 this season only if they come out of it with a cva acceptable to the FL Link to comment Share on other sites More sharing options...
L1Minus10 Posted 1 February, 2010 Share Posted 1 February, 2010 So it's Quincy and O'Hara in with Kaboul and Begovic out so wage bill maybe trimmed a bit but not much. Possibly Fernandes, Kezman and Rocha in. If so they've been allowed to increase a wage bill they've proven they can't afford. ****ing scandalous. Premier League ****ed up the Tevez West Ham thing and they're ****ing this one up too. I bet the rule book is being re-written so that from next year, you get docked points if you miss paying wages... that's be 'sporting sanctions' for you. You've ****ing cheated so here's a penalty to maintain the integrity of the competition... I agree with Crab Lungs. get rid. Link to comment Share on other sites More sharing options...
Crab Lungs Posted 1 February, 2010 Share Posted 1 February, 2010 And another thing... all their fans whinging about the alleged asset-stripping. You reap what you sow, folks.. Link to comment Share on other sites More sharing options...
Gemmel Posted 1 February, 2010 Share Posted 1 February, 2010 I thought it was bad that a company with a £75M turnover couldn't pay the £2M wages, I then thought it was ludicrous they couldn't pay the web company £2000. We now know they couldn't pay the match announcer £60, but tonight I have been told of a bloke who sold them goods for £35 and they didn't have enough to pay him! Any advance on the cost of one match ticket? Have we found the creditor on the end of the very long queue, or have they shafted someone for even less?... Meanwhile the loanee wages keep stacking up. They have given up on paying debts, it's just blatant theft now. Choose any one of a hundred options that you think might apply http://www.out-law.com/page-8250 Link to comment Share on other sites More sharing options...
hamster Posted 1 February, 2010 Share Posted 1 February, 2010 I understand that the so called 'moveable feast' that is the 4th Thursday in March, by which time a club must enter administartion to get a points deduction applied this season. That's March 25th this year I bleieve. Link to comment Share on other sites More sharing options...
Guan 2.0 Posted 1 February, 2010 Share Posted 1 February, 2010 Surely the Pl should also find the article +1. Do it. Link to comment Share on other sites More sharing options...
Saint_clark Posted 1 February, 2010 Share Posted 1 February, 2010 I can remember when this thread was called "Pompey taken over...OH no they're not!" Good times. Link to comment Share on other sites More sharing options...
for_heaven's_Saint Posted 1 February, 2010 Share Posted 1 February, 2010 I really don't get how the f*ck they are still getting players in. It's a f*cking disgrace. Link to comment Share on other sites More sharing options...
hamster Posted 1 February, 2010 Share Posted 1 February, 2010 The way that they are behaving apparently with the PL's blessing, could it be that the PL wardrobe is riddled with skeletons and corruption that runs deeper than any of us can begin to comprehend. Maybe the straightness of Rupert is why he didn;t quite 'fit in' and his tenure was cut short? that might also explain why the FL were so robust when applying their 'rulkes' when the opportunity presented itself? Link to comment Share on other sites More sharing options...
St Marco Posted 1 February, 2010 Share Posted 1 February, 2010 My mate who is a Pompey fan seems to think the owners know they are fooked and on the 10th will be out of business. He thinks the money which has just come in for the two players sold could go to the owner of the club. If he pockets that money and the company goes under, he still walks with the money. Obviously that is pretty far fetched but it does make you think maybe there could be some truth in that. If the staff have not been paid tomorrow even though they have had £6m in the club in the past few days then something is not right at all. Link to comment Share on other sites More sharing options...
Clapham Saint Posted 1 February, 2010 Share Posted 1 February, 2010 Choose any one of a hundred options that you think might apply http://www.out-law.com/page-8250 I've been thinking about this for a while. Despite his bleating about being out of the loop Storrie really is f***ed. At least the finance director had the decency to resign. Link to comment Share on other sites More sharing options...
saint_stevo Posted 1 February, 2010 Share Posted 1 February, 2010 12k p/w on this random!? http://www.dailymail.co.uk/sport/football/article-1244111/Portsmouth-line-Romania-star-Razvan-Cocis-free-transfer.html Link to comment Share on other sites More sharing options...
saints_is_the_south Posted 1 February, 2010 Share Posted 1 February, 2010 My 2p. They will survive until the end of the season but finish bottom. They will beat us in the cup 1-2 at SMS. They will go into administration during the close season and start the CCC season on minus points. Exactly my thoughts! Heart says we'll beat them but their midfield looks far too strong for us. Saying that United "looked far too strong" for Leeds so who knows. Would rather they managed to fend off admin til next season when they are in the CCC and start on minus points then. Link to comment Share on other sites More sharing options...
for_heaven's_Saint Posted 1 February, 2010 Share Posted 1 February, 2010 Exactly my thoughts! Heart says we'll beat them but their midfield looks far too strong for us. Saying that United "looked far too strong" for Leeds so who knows. Would rather they managed to fend off admin til next season when they are in the CCC and start on minus points then. When you compare their financial mess to ours, it'd be pretty stupid if they didn't get at least -15. Link to comment Share on other sites More sharing options...
pedg Posted 1 February, 2010 Share Posted 1 February, 2010 None of these last day, beyond last minute, transfers have been confirmed in the main stream media so not sure how certain they really are. I believe the signed documents have to be faxed to the FA before the deadline so 'having the documents ready to sign' does not really count. To have one transfer after the deadline needing special dispensation is pushing you luck, to go for three is just not going to happen. Link to comment Share on other sites More sharing options...
PES Posted 1 February, 2010 Share Posted 1 February, 2010 I feel some investment (nothing to get excited about, but enough) may be coming in. The truth is we don't know the truth (I apologise for that line), we can only wait and see. As saints fans I shouldn't get yer knickers in a twist about any of this, it's all been a most unpleasant experience to go through, we have been exposed as a club who lived well above our means (Though by no means the only one)and should things begin to look up now ie FA Cup progression, new ownership and a near relegation, ALL our BEST players sold and a 9 month HAMMERING day in, day out in the press, then no one could say (Just like the Saints) that we have not paid the price. My hope is that as the first club to go through this at the very top level, we may actually come out of this better, with a more realistic future outlook. I certainly feel more humble. Feeling positive now and Looking forward to the 13th, it should be a good day for South Coast Football, hopefully both clubs will put on a good show for the nation to see! Link to comment Share on other sites More sharing options...
Sour Mash Posted 1 February, 2010 Share Posted 1 February, 2010 I think Pancake has called it completely right I'm afraid. They'll end up in Admin at some point, but will get off relatively lightly all told. Link to comment Share on other sites More sharing options...
Spudders Posted 1 February, 2010 Share Posted 1 February, 2010 Feeling positive now and Looking forward to the 13th, it should be a good day for South Coast Football, hopefully both clubs will put on a good show for the nation to see! Have you changed your mind about going PES? Link to comment Share on other sites More sharing options...
Gorgiesaint Posted 1 February, 2010 Share Posted 1 February, 2010 (edited) None of these last day, beyond last minute, transfers have been confirmed in the main stream media so not sure how certain they really are. I believe the signed documents have to be faxed to the FA before the deadline so 'having the documents ready to sign' does not really count. To have one transfer after the deadline needing special dispensation is pushing you luck, to go for three is just not going to happen. I have checked the Standard Liege website & they have confirmed that Ricardo Rocha is moving to Portsmouth. Appears he agreed to terminate his contract with them to move as a free agent. http://www.standard.be/ndl/n_nouvelle.php?id=14935 Edited 1 February, 2010 by Gorgiesaint late night typo Link to comment Share on other sites More sharing options...
saint si Posted 1 February, 2010 Share Posted 1 February, 2010 Portsmouth City Football Club Limited is company number 03747237 at Companies House. Googling that number turns up various pages. http://bizzy.info/uk/companies/portsmouth_city_football_club_limited/co_no/03747237/ http://www.ukdata.com/numbers/03747237.html http://www.alacrastore.com/storecontent/experian/03747237 http://wck2.companieshouse.gov.uk/8912861b8c89f3ec746bd7650e32fcf3/compdetails It would appear that they haven't filed accounts since May 2008... and according to the Companies House link, the next accounts are due on 28th Feb 2010... so I imagine a lot of questions will be answered then and the media will be all over the accounts ... assuming that they are still around to file them, and then actually do so. Looks like there are a number of documents available for a fee. Anyone prepared to stump up the readies to see their credit report?! :-) This one caught my eye... http://wck2.companieshouse.gov.uk/8912861b8c89f3ec746bd7650e32fcf3/wcprodorder?ft=1 Statement of Capital £1000000... Any accountants who can explain what this means? Is this money being taken out of the club by the owner? Link to comment Share on other sites More sharing options...
saint_stevo Posted 1 February, 2010 Share Posted 1 February, 2010 No news on Kezman or Fernandes as yet though.... Link to comment Share on other sites More sharing options...
Crab Lungs Posted 1 February, 2010 Share Posted 1 February, 2010 (edited) I feel some investment (nothing to get excited about, but enough) may be coming in. The truth is we don't know the truth (I apologise for that line), we can only wait and see. As saints fans I shouldn't get yer knickers in a twist about any of this, it's all been a most unpleasant experience to go through, we have been exposed as a club who lived well above our means (Though by no means the only one)and should things begin to look up now ie FA Cup progression, new ownership and a near relegation, ALL our BEST players sold and a 9 month HAMMERING day in, day out in the press, then no one could say (Just like the Saints) that we have not paid the price. My hope is that as the first club to go through this at the very top level, we may actually come out of this better, with a more realistic future outlook. I certainly feel more humble. Feeling positive now and Looking forward to the 13th, it should be a good day for South Coast Football, hopefully both clubs will put on a good show for the nation to see! Just when I get myself all stoked up about the skates along comes one who is decent and throws my emotions into spasms. Edited 1 February, 2010 by Crab Lungs Link to comment Share on other sites More sharing options...
Whitey Grandad Posted 1 February, 2010 Share Posted 1 February, 2010 Just when I get myself all stoked up about the skates along comes one his decent and throws my emotions into spasms. It's a bit of a let-down, isn't it? I too have spasmodic emotions. Link to comment Share on other sites More sharing options...
PES Posted 1 February, 2010 Share Posted 1 February, 2010 Have you changed your mind about going PES? Nope. I'm going to watch it from home with the sound turned down. Link to comment Share on other sites More sharing options...
St Chalet Posted 1 February, 2010 Share Posted 1 February, 2010 So what happens now? They have raised 9 million in sales, not sure how much actual cash they will get to see, but certainly enough for a couple of pay days. Winding up petition on the 10th, but apparently they have appealed and waiting for a response. So.....will someone put them into admin in the next week, or will they go for one final throw of the dice and go to trial with HMRC. The problem that I can see, is that the owners have no skin in the game - If they go down the admin route, it's over for them and al mirage has lost one pound. If they fight HMRC, they are at least still in with a chance, but if they lose, that's it. I would imagine that Storrie will be pushing for admin, but may be I'm giving him to much credit. Remind me how such Sasha is owed this month, oh yes - £9m. As my two year-old would say, snap! I wonder if he will get paid out before the club goes pop? Chanrai picks up the stadium as the secured creditor and the taxman, staff and football creditors get nothing. Their loan signings today are nothing more than fools drinking Champagne on the deck of the Titanic whilst the Gaydamarks speed off with the remaining loot in the last available lifeboat. Link to comment Share on other sites More sharing options...
Gorgiesaint Posted 1 February, 2010 Share Posted 1 February, 2010 No news on Kezman or Fernandes as yet though.... I've re-checked the PSG website about Kezman, nothing about any move on the France Football website - but then they don't have anything about Ricardo Rocha either. They did have an article from a few days ago saying Kezman was going to stay in Paris until the end of the season. Link to comment Share on other sites More sharing options...
Joneth Posted 1 February, 2010 Share Posted 1 February, 2010 Remind me how such Sasha is owed this month, oh yes - £9m. As my two year-old would say, snap! I wonder if he will get paid out before the club goes pop? Chanrai picks up the stadium as the secured creditor and the taxman, staff and football creditors get nothing. Their loan signings today are nothing more than fools drinking Champagne on the deck of the Titanic whilst the Gaydamarks speed off with the remaining loot in the last available lifeboat. Spot on, this is whats happening imo. They are so f****d. Link to comment Share on other sites More sharing options...
Gorgiesaint Posted 1 February, 2010 Share Posted 1 February, 2010 Now sport & politics should never mix, but right now I think an exception should be made. If Portsmouth are bringing in more players when they cannot afford to pay the ones they already have - and they are not paying their taxes, then something needs to be done. The Premier League have been lax in allowing these new players to come in and the FA are also sitting quietly on their hands. As the non-payment of taxes affects us all, would it be worth someone raising this issue with their local MP, so that the Minister of Sport can call the FA to account for their lack of action. It might also raise the profile of what is happening at Portsmouth and also ensure that HMRC adopt a tough line at the winding up hearing. Link to comment Share on other sites More sharing options...
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