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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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do i not like fizzy pop

do i not like fizzy pop

Posted
Posted

Should the PL, FIFA etc assist in allowing either a loan against the TV money or to sell players outside the window (and have players register with another club) it surely would be the beginning of the end for the PL?

 

Any club facing even a tenth of the problems PFC are up to their neck would quote precedence when it was their turn with the begging bowl?

 

Leveraged debt, dodgy owners, overspending, players wages, general debt - the fuse will have been lit and the whole situation will descend into a farce that will rumble on for years and years.

 

If you were Chairmen of Cardiff, Crystal Palace, Bournemouth, Northampton, Luton, Leeds etc, would you be watching very closely on how this one pans out (Yes, FL i know)?

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Gingeletiss

Gingeletiss

Posted
Posted
You didnt try and sell players at all , you tried brinkmanship and very nearly lost the sale of Bergovic due to fighting over the last few quid.

if you are granted the window opened , are you selling at best price offered even if it is cut price or will you then try all the 'we are not doing a firesale' Storrie ?

You bought the FA cup and have had the memories that came with it, at the same time robbing fans whose clubs played by the rules that same feeling. now the medicine should be administered you are crying like babies (akaStorrie) and trying every trick you can.

I have said all along you will get out of it, and still feel you could avoid relegation. the next 2 games are very winnable and so you could be within touching distance.

The PL is so desperate for their brand to be kept intact and also the likes of Gold who needs the 4 points for West Ham that you will get survival.

 

nick, you change tack, like a lost sailor. The PL will not have Poor smouth in their gang net season.....put you mortgage on that my friend.

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Nellie

Nellie

Posted
Posted
Even if given the green light to sell,

 

Who the hell are the buying clubs going to be.

 

manager 'hey Mr Chairman, I can buy Belhadj for just a couple of million'

Chairman ' OK, how much will he cost in 2 weeks time '

Manager ' err , nothing'

Chairman ' call me again in March then'

What would be very funny, would for them to be to be granted permission to sell players with the minus nine penalty only for no-one to bid for any of them.

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pedg

pedg

Posted
Posted
What would be very funny, would for them to be to be granted permission to sell players with the minus nine penalty only for no-one to bid for any of them.

 

I don't think there has been any clarification as to if they would get a penalty in exchange for permission. They should do but if pompey are desperately holding on to the possibility of PL survival then they might not then take them up on the offer.

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dubai_phil

dubai_phil

Posted
Posted

Oh goodie, looks like FIFA and the EPL will come to the party and help.

 

Great news for those who don't want to see them die, but who wish to see them endure a period of suffering at least half as long as ours.

 

It'll also mean we get some new baby threads, sort of Son of The Takeover thread as the contagion and the law suits grow and everyone scrambles for the Me Too button.

 

Oh, and don't worry Ho & Co, we'll be on here with as much venom and analysis once either Liverpool or Manure decide to join the going pop party. (Or more likely Wigan, Newcastle or Bolton)

 

Typical selfishness on your behalf though. this whole mess is nothing to do with just you, it is about the future of English Football. The EPL is killling the rest of the football industry by sucking it dry through greed. Just your bad luck (and our good fortune) that you are the Martyrs for the greater good.

 

The corruption of the finances of football is an opinion I and many others have held and commented on consistently for a great long time now.

 

FWIW you keep missing - Directors have a legal and moral obligation called a Duty of Care to their Stakeholders, your idiots forgot that, we didn't.

 

At least some like Mero understand that - perhaps you lot should all be out waving cash under Storries nose, might get more sympathy then.

 

Anyway off to watch Colly's boys vs the Ball Munchers for a few hours, should be fun surrounded by 20,000 Pakistani fans, good thing is their banter responses will be far more intellectual than some on here.

 

Now, where did I put my Flag?

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dan17

dan17

Posted
Posted
BBC SPORT BREAKING NEWS TICKER:

 

Fifa understood to look favourably on portsmouths request to sell players outside of the transfer window.

 

Even as a Saints fan, I probably don't really want to see them completely dissappear but if this is allowed to happen it will be an absolute outrage.

 

The rest of us can operate within the rules, why can't they FFS.

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Saint_Jonny

Saint_Jonny

Posted
Posted
Even as a Saints fan, I probably don't really want to see them completely dissappear but if this is allowed to happen it will be an absolute outrage.

 

The rest of us can operate within the rules, why can't they FFS.

 

imagine we were able to shift surman and DMG outside of the transfer window, we probably wouldnt have gone into admin when we did, and maybe would not have been relegated to L1 (yes we'd still be stuck with RL, and we'd prob have gone down anyway..) BUT we never had the option so WHY THE **** SHOULD THEY!!

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badgerx16

badgerx16

Posted
Posted
BBC SPORT BREAKING NEWS TICKER:

 

Fifa understood to look favourably on portsmouths request to sell players outside of the transfer window.

Interestingly, it says players transferred will only be permitted to play in the EPL, so presumably only EPL teams will be buying ? This could get more incestuous and self-interested than any poopey family re-union.

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pedg

pedg

Posted
Posted
This is an absolute disgrace but I have to say I am amazed that FIFA have allowed this to happen. Its now got a page on the BBC, not much on there at the moment but further details to follow. Nothing as yet on the FIFA website.

 

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8522283.stm

 

Page says:

The Premier League will ask the other 19 clubs before making a decision.

My guess is that to get the majority then need to approve it the other clubs would insist on pompey taking a penalty which would probably kill the idea dead as that's something they appear to be desperate to avoid.

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Thedelldays

Thedelldays

Posted
Posted

IF they are allowed to sell players now I think I will have washed my hands with the EPL...only a few weeks ago I really thought it was the place to be...now it has hit me that it is a disgrace

 

the only way to make this fair is by placing them (somehow) into immediate administration and make it a rule that ALL clubs that go into admin are allowed to do this.

 

I bet (and now hope) Platini is rubbing his hands and comes down on the prem like a grand piano

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Delmary

Delmary

Posted
Posted
Interestingly, it says players transferred will only be permitted to play in the EPL, so presumably only EPL teams will be buying ? This could get more incestuous and self-interested than any poopey family re-union.

 

The idea is so crazy. If P*mpey sell their best players it will weaken their team. Therefore, the teams that are due to play them over the remainder of the season will gain a competitive advantage over teams that have already played them. It's absolutely wrong. The best solution would be for the Premier League to advance them the TV money with a nine point deduction.

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Thedelldays

Thedelldays

Posted
Posted
Page says:

The Premier League will ask the other 19 clubs before making a decision.

My guess is that to get the majority then need to approve it the other clubs would insist on pompey taking a penalty which would probably kill the idea dead as that's something they appear to be desperate to avoid.

 

 

why would wolves, wigan and liverpool agree to it...why..?

 

this is a disgrace if it happens

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Thedelldays

Thedelldays

Posted
Posted
The idea is so crazy. If P*mpey sell their best players it will weaken their team. Therefore, the teams that are due to play them over the remainder of the season will gain a competitive advantage over teams that have already played them. It's absolutely wrong. The best solution would be for the Premier League to advance them the TV money with a nine point deduction.

 

 

this is the only semi fair way out of this hole the EPL have found themselves in

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pedg

pedg

Posted
Posted
why would wolves, wigan and liverpool agree to it...why..?

 

this is a disgrace if it happens

 

I think someone said that it has to be something like a 16 to 6 majority or there abouts to agree something like this so a few objectors could still be overruled. Many would want to protect the brand for the sake of their long term foreign TV deals and to do that they would prefer pompey to play all their games this season and then disappear. Giving them the money as long as they take a penalty would achieve those aims.

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Goalie66

Goalie66

Posted
Posted

re: The premier league wont let you go bust....... ...

Posts: 524

Hall of Fame

Some Pompey fans do understand !! From Fratton Faithful

 

it's not in the Premier League's hands. It is in the hands of the Judge.

 

If they were going to put together a rescue package, the time to do it would have been before the court.

 

and for what it's worth, I think people overestimate both how much damage Pompey going bust will do the brand, and any potential 'domino' effect

 

Outside of Portsmouth, I'm not sure it will have any appreciable impact at all. People will look on aghast for a moment, the way they do with car crashes, then shrug their shoulders and go about their business....

 

We're not Man Utd. We are a small, provincial club. We are not going to bring the whole edifice crashing down

Edit by user 19 Feb 11:09

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INFLUENCED.COM

INFLUENCED.COM

Posted
Posted
I bloody hope the FL look to take further points from them..

 

If by this they survive the winding up but take the -9 penalty admin will follow soon after, when under control of the FA and all the financial irregularities become 'public' don't see them avoiding a -25, factor in the 3 amigos guilty verdicts for tax evasion whilst at the helm, I think they will be double f()cked.

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OldNick

OldNick

Posted
Posted
nick, you change tack, like a lost sailor. The PL will not have Poor smouth in their gang net season.....put you mortgage on that my friend.

Ginge show me where I have said Pomey will get relegated and also not stay in business.

I have been consistant in that opinion as I can see the PL's desperation for the league to fulfill all its fixtures. No doubt a lot of commercial contracts coud be effected. Their negligence not calling Pomey to task in the summer has led to this mess.

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do i not like fizzy pop

do i not like fizzy pop

Posted
Posted

Worth a trip back in history i think..........

 

Luton Town fail in points appeal -15th July 2008

 

Luton Town have lost their appeal against a 10-point penalty for financial irregularities.

 

Luton, who were also deducted 20 points after failing to satisfy the Football League's insolvency rules, will begin life in League Two on minus 30 points.

 

The Football Association has now ruled the club's 10-point deduction and £50,000 fine for making irregular payments to agents stands.

 

The Hatters were relegated from League One last season.

 

"I am absolutely shattered by the decision, as we all are in the 2020 consortium," prospective chairman Nick Owen told BBC Sport.

 

"But it will not detract from our determination to save our football club and drive us back up the league.

 

"It will take a lot to avoid relegation, but that is our aim, despite the obstacles thrown at us by the League and FA."

 

Luton were hit with the 10 point deduction in June after the FA found the club guilty of paying agents via a third party, but not of paying bungs.

 

The club argued that the old owners were responsible and that the club should not now be punished for their mistakes, but at a hearing in London on Tuesday the FA rejected their appeal.

 

An FA statement said: "The FA Regulatory Commission's responsibility was to decide the appropriate punishment for Luton's admitted breaches of the FA's own rules and regulations.

 

"The deduction of 10 points was a heavy sanction, as it was intended to be, but was not excessive as a reflection of the seriousness of the breaches and the need to deter such conduct within football clubs."

 

http://news.bbc.co.uk/sport1/hi/football/teams/l/luton_town/7507736.stm

 

 

How the hell does this compare to the mess down the road and the favourable treatment they are recieving??

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hypochondriac

hypochondriac

Posted
Posted
Just listened to the 5live news, they said that FIFA would allow it so the PL retains the 'integrity' of the league. Have to say they have lost all integrity

 

So that just encourages ridiculous overspending. It's OK lads you can spend what you like, as long as you are in the Prem FIFA et al will do everything they can to prevent you from being punished.

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dronskisaint

dronskisaint

Posted
Posted (edited)

Liquidation & Administration - Definitions help please?

 

A short while ago I thought I knew the difference but so many people (inc the 'experts' on the R5 programme last night) are talking about administration & a nine point penalty as an option still available.

 

My understanding is/was that going voluntarily in to administration is no longer an option now that the SofA has been requested & the only people who could grant that would now be the court - & only then if they could find an administrator to take it on. The latter would not be necessarily or be likely to be attractive to a company as there is very little to negotiate with i.e. no money to be made.

 

The other understanding was/is that if(!) they are trading insolvently & have no immediate prospect of being able to 1) pay existing debts & 2) prove that they will be able to in the future then liquidation would be the only recourse. Liquidation means as I do/did understand it just that. The company is dissolved there & then & any assets divided amongst the creditors. This doesn't mean acceptin 'x' point deductions, relegation etc - it means/meant gone, dead, kaput, expunged...

 

So why does the administration option keep being mooted?

 

Please (nicely) can someone within the profession clarify this?

Edited by dronskisaint
crap typing!
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ypbl

ypbl

Posted
Posted
This is an absolute disgrace but I have to say I am amazed that FIFA have allowed this to happen. Its now got a page on the BBC, not much on there at the moment but further details to follow. Nothing as yet on the FIFA website.

 

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8522283.stm

 

But why would they want to sell their players if Storrie is so confident that a takeover is going to happen "within the next 48 hours"?

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toofarnorth

toofarnorth

Posted
Posted

The only way this can be allowed is if the rules are changed for EVERYONE. Like someone else said in an earlier post why the hell didn't they sell the players in Januray, instead of actually adding some players to the wage bill. Makes it all the more gruelling that the players they retained/signed when they blatantly couldn't afford them played a major role in the FA Cup game.

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Goalie66

Goalie66

Posted
Posted
Liquidation & Administration - Definitions help please?

 

A short while ago I thought I knew the difference but so many people (inc the 'experts' on the R5 programme last night) are talking about administration & a nine point penalty as an option still available.

 

My understanding is/was that going voluntarily in to administration is no longer an option now that the SofA has been requested & the only people who could grant that would now be the court - & only then if they could find an administrator to take it on. The latter would not be necessarily or be likely to be attractive to a company as there is very little to negotiate with i.e. no money to be made.

 

The other understanding was/is that if(!) they are trading insovently & have no immediate prospect of being able to 1) pay existing debts & 2) prove that they will be able to in the future then liquidation would be the only recourse. Liquidation means as I do/did understand it just that. The company is dissoved there & then & any assets divided amongst the creditors. This doesn't mean acceptin 'x' point deductions, relegation etc - it means/meant gone, dead, kaput, expunged...

 

So why does the administration option keep being mooted?

 

Please (nicely) can someone within the profession clarify this?

 

Administration is where a company can apply to the courts to defer payments to debtors in order to try and rearrange its finances so that all or part of these debtors can be satisfied. In the case of Saints the Directors asked to go into Administration.

 

The court or a major debtor can also request that a company go into administration in order to gain preferrential debtor status. HMRC issued the winding up order to gain preferrential debtor status.

 

Insolvency is where a company cannot meet its creditor obligations and is not solvent ( no cash).If a court decides a company is insolvent it appoints and Administrator to wind up the company immediately and recover any assets to be paid back to the creditors. Normally pennies on the pound.

 

Trading while insolvent is a criminal offence and Directors can be held liable for the cebts.

 

Hope that helps

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ericofarabia

ericofarabia

Posted
Posted (edited)

It absolutely stinks of rotten fish. :mad:

 

What is the point of a Transfer Window, which 99.9% of the clubs have stuck to it and some, ie Crystal Palace this year, us last year,to mention just 2, had to sell some of their prized players to keep afloat.

 

They knew damned well what the financial situation was in January, and not only did they not encourage bids for players but went out and took more players on .... 2 of which Owusu (?) and O'Hara had a significant role in our defeat (not to mention Dindane who hasn't been paid for, 3.5 million fees overdue to Lens) :(

 

Christ knows what the good folk of Bournemouth make of all this with an embargo on buying /loaning players due to debts of about nine pound fifty six pence and a polo mint.

 

Any sympathy I initially had has long since departed, at the way the officials of Skatesmuff and also the PL/FA have acted.

 

Let the feckers burn and take the whole greedy EPL down with them.

 

Make the season null and void, and play the next few months out minus Skatesmuff as a knockout competition for the League title.

Edited by ericofarabia
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Gorgiesaint

Gorgiesaint

Posted
Posted
But why would they want to sell their players if Storrie is so confident that a takeover is going to happen "within the next 48 hours"?

 

Lets remember one thing in this.

 

They still have to appear in court on 1st March, they have already submitted the statement of affairs and it would appear from certain comments made that it is not good news. Let's hope that whoever is hearing this case (not sure if Judge Dennett gets it again) takes a dim view of the need to have football's rules re-written for their benefit so they can keep going.

 

Whilst I have some sympathy for some of their fans - I really hope that the judge rules in HMRC's favour and they get wound up.

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saintbletch

saintbletch

Posted
Posted
Say they sell Belhadj to Bolton and he scores the goals which keep them up at the expense of say Hull. Can you see a legal challenge? It stinks!

 

Agreed it's a shambles.

 

But IF it were to happen as you describe then I'm sure Hull would have been given chance to vote on the matter along with the other Prem clubs (-Pompey).

 

Their vote would have been noted and then in accordance with the PL rules on such extraordinary matters, the majority (whatever the ratio is) will win out.

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saint lard

saint lard

Posted
Posted

Say they sell a couple of players, would this then go some way in attempting to prove they are not insolvent to the HMRC?.

 

The directors must be extremely concerened being that they will be held liable and therefore face the consequences.

 

Would Tanya,whatever her name is,who used to be financial director be culpable now that she resigned that position and is now financial manager.

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Gorgiesaint

Gorgiesaint

Posted
Posted
Agreed it's a shambles.

 

But IF it were to happen as you describe then I'm sure Hull would have been given chance to vote on the matter along with the other Prem clubs (-Pompey).

 

Their vote would have been noted and then in accordance with the PL rules on such extraordinary matters, the majority (whatever the ratio is) will win out.

 

So how quickly can they get a meeting of the PL chairman together? Can they manage to get that sorted before 1st March?

 

EDit: If I were the Hull or Burnley chairman I would suddenly have a very full diary!!

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S-Clarke

S-Clarke

Posted
Posted

What a load of corrupt ****ing ******** from the PL.

 

They fine wolves for playing a weak team against Man U - yet they are bending over backwards to help a team that has overspent and has been run by criminals. WTF?

 

If I was a wolves/hull/bolton/wigan etc - I would be ****ing fuming. I'm so glad we're not in there right now - a shambles.

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SuperSAINT

SuperSAINT

Posted
Posted
What a load of corrupt ****ing ******** from the PL.

 

They fine wolves for playing a weak team against Man U - yet they are bending over backwards to help a team that has overspent and has been run by criminals. WTF?

 

If I was a wolves/hull/bolton/wigan etc - I would be ****ing fuming. I'm so glad we're not in there right now - a shambles.

 

I woudn't be suprised if Portsmouth get a late valentines day card with that 25k with 'lots of love' from the Premier league!

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