S-Clarke Posted 26 February, 2010 Share Posted 26 February, 2010 The Premier League SERIOUSLY needs to grow some balls before that meeting. they won't Link to comment Share on other sites More sharing options...
badgerx16 Posted 26 February, 2010 Share Posted 26 February, 2010 Also wants the transfer window opened to sell 2 players WTF They can sell at any time, the issue is that the buyers can't register new players until the window opens. Considering what was said earlier this month, wasn't it going to be 'open' only for EPL teams to buy ? Can't see any other UEFA leagues bending the rules. Link to comment Share on other sites More sharing options...
Merovingian Posted 26 February, 2010 Share Posted 26 February, 2010 well he is hardly likely to say no PFC are fooked we aren't going to bother shurlock. Link to comment Share on other sites More sharing options...
Pancake Posted 26 February, 2010 Share Posted 26 February, 2010 Interestingly the PL still list PFC as having 16 points on their website, even after issuing a statement that they would now invoke the rules. Link to comment Share on other sites More sharing options...
Foxy Posted 26 February, 2010 Share Posted 26 February, 2010 ...unless Portpin is one of the interested buyers. Then putting further cash in might make sense - especially as that additional cash is likely to be far less each month as things are "cut to the bone". Not convinced there's so much cost to be cut in the short term - after all their biggest cost will be player wages and with fixed term contracts they can't fire them. Not looking great for the tea lady Link to comment Share on other sites More sharing options...
Pancake Posted 26 February, 2010 Share Posted 26 February, 2010 ...unless Portpin is one of the interested buyers. Then putting further cash in might make sense - especially as that additional cash is likely to be far less each month as things are "cut to the bone". But Portpin owned the club prior to Administration. Link to comment Share on other sites More sharing options...
Smirking_Saint Posted 26 February, 2010 Share Posted 26 February, 2010 The Premier League SERIOUSLY needs to grow some balls before that meeting. I am thinking this to, it would be a f*cking farce if they don't and begin to bend over backwards for what is an insolvent and so corrupt and cheating football club. Link to comment Share on other sites More sharing options...
SNSUN Posted 26 February, 2010 Share Posted 26 February, 2010 He's no Mark Fry is he. Would our rivalry extend to administrators, or would that be taking it too far? As they've not appointed Fry, it's a moot point, but I'm glad they chose someone else! HANDS OFF OUR ADMINISTRATOR! Link to comment Share on other sites More sharing options...
JackFrost Posted 26 February, 2010 Share Posted 26 February, 2010 Interestingly the PL still list PFC as having 16 points on their website, even after issuing a statement that they would now invoke the rules. as do sky and the beeb Link to comment Share on other sites More sharing options...
ray951 Posted 26 February, 2010 Share Posted 26 February, 2010 I dont understand how the company PCFC can go into Administration when owned by Portpin; and then Portpin then offer to inject cash to the administrator to keep the club running whilst in Administration. And Portpin will pay off the tax bill too? Why didnt they inject cash and pay the tax bill before administration? Very iffy. It is what happened at Palace, company putting Palace into administration then 'gave' the administrator £1 million pounds to pay the wages until the transfer window. They then sold a few players in the window and got extra money from a run in the FA Cup to ensure that they have enough cash to get through until the end of the season. Although I can't see Chaneri paying £4-5 million a month until the end of the season especially as they are very likely to be relegated, if they had a chance of staying up then it makes more sense. Link to comment Share on other sites More sharing options...
Under Weststand Posted 26 February, 2010 Share Posted 26 February, 2010 Interestingly the PL still list PFC as having 16 points on their website, even after issuing a statement that they would now invoke the rules. I think its because they have to convene a PL meeting to review & ratify the -9 points probably Monday. Link to comment Share on other sites More sharing options...
Winchester Red Posted 26 February, 2010 Share Posted 26 February, 2010 Contradicted himself He said in the statement We will come out of administration with the CVA In the interview after he was asked if he could guarantee survival beyond this season and he said, There are no guarantees, but someone else might beat us too it Link to comment Share on other sites More sharing options...
The9 Posted 26 February, 2010 Share Posted 26 February, 2010 (edited) Here goes : Mess is not dissimilar to other clubs he's worked on Players paid yesterday Needs to generate working capital - sale of 1 or 2 players, looking for concessions from Prem Lge to do that Won't be a firesale Wants assistance from PL, there's a meeting of all PL officials on Thurs One of the things they will request is advancement of £16m parachute payments due over next 2 years Amount of debt is "near what's been in the papers", £60-70m is "accurate" With Transfer Window closed and current PL/FIFA stance, they will have to seek concessions. Mark Jacobs glossed over, "main interest is a sure footing" Peter Storrie described as "position untenable given recent events" and the Admin's "priority is the football club" Significant cost cuts at all level, details in 7-10 days Avram Grant has given and receives full support and staying to end of season "Naive to look for new manager" but no assurances beyond this season Freehold of stadium is still on balance sheet with Portpin (Chainrai's company) receiving a "fixed charge" Very confident of getting to the bottom of it and has a staturory duty to do so. Will make no comment on criminality "You'll be surprised" at the assets. Has "seen far worse" Not spoken to players re pay cuts, not on the agenda. Role is to present to the creditors in 8 weeks, may need to extend for/by the CVA. Gaydamak largest creditor, hence dealings with him. HMRC attitude : he will try to get them onside to support a CVA. Secure creditors priority, then Superclass of football creditors, then everyone else is "unsecured creditor". When asked about HMRC not negotiating below 100p in pound, he said "everything will be done in line with legal precedent". There is always a danger of the club going bust Every confidence of fulfilling fixtures Staff being addressed today (now) Few hours working on this seems like a month Reassure fans fixtures will be completed, players as sportsmen will be playing for futures as "not all are at the end of their careers" Haven't got to job losses yet but will be cutting to the bone Will need a week to break down how they got into the mess. Exacerbated situation by being in PL, resembles other clubs. Goal and passion is to ensure PFC exist "We won't be the last" Players paid by Portpin, who will provide support to take the club forward, inject further money. All necessary expenses inc tax will be paid from now on. Edited 26 February, 2010 by The9 £16m parachute payments, not sixty...! Link to comment Share on other sites More sharing options...
swannymere Posted 26 February, 2010 Share Posted 26 February, 2010 I think it was mentioned that it wouldn't come into effect until next week. Link to comment Share on other sites More sharing options...
pedg Posted 26 February, 2010 Share Posted 26 February, 2010 The Premier League SERIOUSLY needs to grow some balls before that meeting. Fairly clear that the PL want shot of pompey so would have thought it unlikely they would make an exception. Lots of "We would like to let them off the -9 points but it would not be fair to the other teams" type comments. Link to comment Share on other sites More sharing options...
Gingeletiss Posted 26 February, 2010 Share Posted 26 February, 2010 LOL thinks he can get the PL to not give them a -9 point penalty, also wants to discuss getting cash advance from PL. Also wants the transfer window opened to sell 2 players WTF Ummmm!!!......Mr Fry said that when we went into administration, did he not?? Link to comment Share on other sites More sharing options...
S-Clarke Posted 26 February, 2010 Share Posted 26 February, 2010 Interestingly the PL still list PFC as having 16 points on their website, even after issuing a statement that they would now invoke the rules. the points penalty isn't confirmed until the PL meet next week. Personally they haven't got a chance of overturning the points penalty IMO - if they stay at 16 points, have a good end to the season stay in the division....the PL will be sued left, right and center by the relegated teams. they just want to get rid of them - i can imagine them giving them some parachute payments, and letting them sell players - but there is no way you can say ''don't take away our points'' - everyone else gets points taken off them, get over it. Link to comment Share on other sites More sharing options...
Foxy Posted 26 February, 2010 Share Posted 26 February, 2010 Would our rivalry extend to administrators, or would that be taking it too far? As they've not appointed Fry, it's a moot point, but I'm glad they chose someone else! HANDS OFF OUR ADMINISTRATOR! SO if/when they come out can we claim bragging rights if Mark managed to get more pence in the pound/a richer new owner/quicker exit from admin than Andronikou? Come on Begbies! Link to comment Share on other sites More sharing options...
Smirking_Saint Posted 26 February, 2010 Share Posted 26 February, 2010 Interestingly the PL still list PFC as having 16 points on their website, even after issuing a statement that they would now invoke the rules. They need to have a meeting and also issue the -9 points deduction in writing to the club. Apparantly they are looking to conveen a meeting next week. On another note he is 100% guaranteeing that the club will stay untill the end of the season at least, i am guessing that is due to chanrai bankrolling it. As for the -9 point deduction, i very much doubt that they will get away with that. Link to comment Share on other sites More sharing options...
S-Clarke Posted 26 February, 2010 Share Posted 26 February, 2010 Ummmm!!!......Mr Fry said that when we went into administration, did he not?? slightly different with us, as the argument was that it was the holding company in admin (SLH) - not the football club (which was a sub entity) with Portsmouth - the football club is in administration. Link to comment Share on other sites More sharing options...
RonManager Posted 26 February, 2010 Share Posted 26 February, 2010 I think its because they have to convene a PL meeting to review & ratify the -9 points probably Monday. This was mentioned by Ed Chamberlin earlier today on SSN - he read out the rule (para.5.2) that worded the action. He said the EPL meeting to invoke the rule would happen in the near future and was a formality. Link to comment Share on other sites More sharing options...
Under Weststand Posted 26 February, 2010 Share Posted 26 February, 2010 Sports lawyer on Sky at the moment, doesn't seem to think that they will get any change out of the PL, I hope he's right. just asked the Lawyer his opinion on where they will be this time next year he seems to think they will be in the CCC with new owners but with more points deductions, that's his gut feeling. Doesn't see the administrator being able to get enough creditors to agree a CVA here's hoping. Link to comment Share on other sites More sharing options...
dubai_phil Posted 26 February, 2010 Share Posted 26 February, 2010 Well it finally came to pass. I won't gloat, I'll just finally state my case, of which I'm certain (oh sh1t THAT song again - sorry) The club was toast the moment Gaydamark decided to pull the plug. The abject failure of the Directors to perform their own Due Dilligence on the supposed buyers was IMHO criminal. Every decision they made since the plug was pulled has caused more damage to small businesses, and caused more harm to the PL reputation. The ONLY beneficiaries for that appalling failure of Corporate Governance were the players and of course us. It is a happy day for Saints fans after the stick we took. I hope it wll be a happy day for football as the Authorities FINALLY wake up and get their sh1t together. But this day should have happened last summer and ntil the people responsible show ONE small sign of remorse then I do hope they die a long lingering death. If they admit their failings then fair enough, the real fans at that club don't deserve this. But like others this could be a pre-pack and the smell may linger AFC Pompey may still be a wise decision guys Link to comment Share on other sites More sharing options...
The9 Posted 26 February, 2010 Share Posted 26 February, 2010 Contradicted himself He said in the statement We will come out of administration with the CVA In the interview after he was asked if he could guarantee survival beyond this season and he said, There are no guarantees, but someone else might beat us too it No contradiction there, he didn't say they would come out of admin with a CVA, he said the way to come out of admin was with a CVA. Link to comment Share on other sites More sharing options...
Winchester Red Posted 26 February, 2010 Share Posted 26 February, 2010 The PL will definately bend over backwards to get them to the end of the season. Beyond that ..... they wont give us toss Link to comment Share on other sites More sharing options...
Sevvy Posted 26 February, 2010 Share Posted 26 February, 2010 I thought the lawyer on SSN talked a lot of sense, lets hope the PL do the right thing and tell Pompey to go get stuffed Link to comment Share on other sites More sharing options...
Winchester Red Posted 26 February, 2010 Share Posted 26 February, 2010 No contradiction there, he didn't say they would come out of admin with a CVA, he said the way to come out of admin was with a CVA. Sounded to me like he said 'We will come out of administration with a CVA - not maybe But I could have misheard (although others on here earlier ask why he could be so sure, so that infurs he said they will) Link to comment Share on other sites More sharing options...
Saint Keith Posted 26 February, 2010 Share Posted 26 February, 2010 Here goes : Mess is not dissimilar to other clubs he's worked on Players paid yesterday Needs to generate working capital - sale of 1 or 2 players, looking for concessions from Prem Lge to do that Won't be a firesale Wants assistance from PL, there's a meeting of all PL officials on Thurs One of the things they will request is advancement of £60m parachute payments due over next 2 years Amount of debt is "near what's been in the papers", £60-70m is "accurate" With Transfer Window closed and current PL/FIFA stance, they will have to seek concessions. Mark Jacobs glossed over, "main interest is a sure footing" Peter Storrie described as "position untenable given recent events" and the Admin's "priority is the football club" Significant cost cuts at all level, details in 7-10 days Avram Grant has given and receives full support and staying to end of season "Naive to look for new manager" but no assurances beyond this season Freehold of stadium is still on balance sheet with Portpin (Chainrai's company) receiving a "fixed charge" Very confident of getting to the bottom of it and has a staturory duty to do so. Will make no comment on criminality "You'll be surprised" at the assets. Has "seen far worse" Not spoken to players re pay cuts, not on the agenda. Role is to present to the creditors in 8 weeks, may need to extend for/by the CVA. Gaydamak largest creditor, hence dealings with him. HMRC attitude : he will try to get them onside to support a CVA. Secure creditors priority, then Superclass of football creditors, then everyone else is "unsecured creditor". When asked about HMRC not negotiating below 100p in pound, he said "everything will be done in line with legal precedent". There is always a danger of the club going bust Every confidence of fulfilling fixtures Staff being addressed today (now) Few hours working on this seems like a month Reassure fans fixtures will be completed, players as sportsmen will be playing for futures as "not all are at the end of their careers" Haven't got to job losses yet but will be cutting to the bone Will need a week to break down how they got into the mess. Exacerbated situation by being in PL, resembles other clubs. Goal and passion is to ensure PFC exist "We won't be the last" Players paid by Portpin, who will provide support to take the club forward, inject further money. All necessary expenses inc tax will be paid from now on. tbf, it will take him a lot longer than that. unless he comes on here and he can find out in about half an hour Link to comment Share on other sites More sharing options...
dune Posted 26 February, 2010 Share Posted 26 February, 2010 "Mr Andronikou said at the start of his press conference that the company would not be passed into liquidation." "He said he would be ready with his proposals for the club within eight weeks." So what happens in eight weeks if there's still no buyer? Link to comment Share on other sites More sharing options...
Under Weststand Posted 26 February, 2010 Share Posted 26 February, 2010 This was mentioned by Ed Chamberlin earlier today on SSN - he read out the rule (para.5.2) that worded the action. He said the EPL meeting to invoke the rule would happen in the near future and was a formality. Cheers for clarifying that Ron, Ed is doing a sterling job of keeping a straight face today, it must be killing him Link to comment Share on other sites More sharing options...
The9 Posted 26 February, 2010 Share Posted 26 February, 2010 The PL will definately bend over backwards to get them to the end of the season. Beyond that ..... they wont give us toss You're not really paying attention. They will get to the end of the season, Chainrai's company covered the wages and will do so again, so they'll have players, the windup petition is off due to administration, and the administrator is the only one who can pull the plug now and has just said he'll get them to the end of the season. Link to comment Share on other sites More sharing options...
GenevaSaint Posted 26 February, 2010 Share Posted 26 February, 2010 They need to have a meeting and also issue the -9 points deduction in writing to the club. As for the -9 point deduction, i very much doubt that they will get away with that. I doubt they'lll get away with it, but I did read somewhere today there are grounds for appeal, the -9 is not cast iron. I'm with other posters, the PL will want rid of Pompey after this debacle. Link to comment Share on other sites More sharing options...
pedg Posted 26 February, 2010 Share Posted 26 February, 2010 tbf, it will take him a lot longer than that. unless he comes on here and he can find out in about half an hour If he can read 17000 posts in half an hour I will be impressed!! Link to comment Share on other sites More sharing options...
Winchester Red Posted 26 February, 2010 Share Posted 26 February, 2010 You're not really paying attention. They will get to the end of the season, Chainrai's company covered the wages and will do so again, so they'll have players, the windup petition is off due to administration, and the administrator is the only one who can pull the plug now and has just said he'll get them to the end of the season. That's good So they won't need talk to the PL about all those concessions then will they, or ask for any para money early, or did he not say that either? Link to comment Share on other sites More sharing options...
StuRomseySaint Posted 26 February, 2010 Share Posted 26 February, 2010 HMRC will not take less than 100p in the £ ... that itself should be enough to stop the CVA... HMRC are going to use the skates as an example... it's in the public interest as well as HMRC that they are not given any special terms. Link to comment Share on other sites More sharing options...
tony13579 Posted 26 February, 2010 Share Posted 26 February, 2010 One of the things they will request is advancement of £60m parachute payments due over next 2 years So are they goung to ask all the other clubs in the PL to stump up £3M each to fund this? Can the other members of the PL afford this? Link to comment Share on other sites More sharing options...
The9 Posted 26 February, 2010 Share Posted 26 February, 2010 "Mr Andronikou said at the start of his press conference that the company would not be passed into liquidation." "He said he would be ready with his proposals for the club within eight weeks." So what happens in eight weeks if there's still no buyer? 23 April, just for the record. If there's no buyer they'll carry on looking as long as the costs are covered. They can be in admin for 18 months as far as the FL is concerned and they won't even be part of the FL until July 1st. Administrator's responsibility is to the creditors. Gaydamak is the main creditor so he'll have some input, as will Chainrai no doubt. Link to comment Share on other sites More sharing options...
Under Weststand Posted 26 February, 2010 Share Posted 26 February, 2010 I doubt they'lll get away with it, but I did read somewhere today there are grounds for appeal, the -9 is not cast iron. I'm with other posters, the PL will want rid of Pompey after this debacle. That's 100% guaranteed, they want them to finish the season so the Brands not damaged anymore than it already is. After that they will hand them into the loving & welcoming arms of the FL who will treat them with the upmost sympathy as they do the rest of their clubs. Link to comment Share on other sites More sharing options...
The9 Posted 26 February, 2010 Share Posted 26 February, 2010 That's good So they won't need talk to the PL about all those concessions then will they, or ask for any para money early, or did he not say that either? Obviously its a negotiating position, they're hardly going to say "ok they said we can't have any money so we won't ask" if they think there's a glimmer. Being in admin changes a few things but I doubt it'll change the PL's position. They'd have to play brinkmanship with their own future to mess up the PL table to get anything useful. Link to comment Share on other sites More sharing options...
toofarnorth Posted 26 February, 2010 Share Posted 26 February, 2010 The premier league were hamming on about for the integrity of the premier league we must do x,y and z. For me to ensure the integrity of the plremier league they must make sure that all teams are treated equally and fairly. Link to comment Share on other sites More sharing options...
NickG Posted 26 February, 2010 Share Posted 26 February, 2010 ROTFPMSL. That has to be one of the funniest things I've ever read. I bet Man Utd fans still consider you their rivals too. What a mong. This from someone who doesn't consider us his rivals but spends time and money getting reports from company house to post on here with a ridiculously sense of self inflated importance finding a legal flaw in Chainrai's plan only to be shown up as completely wrong. Not only that but as we're not your rivals, why post the same findings on Pompey Online posing as a Pompey fan no less. Nick, do the maths. If we had a stadium the same size as yours and got average 30,000 crowds that would bring in (at an average ticket price of £30.00) an extra £5.7m a year. Enough to buy and pay one average PL midfielder. Bigger stadium would be nice but it's the SKY money that funds wage bills, not gate money. you are selling tickets for £20 and getting 17,000 in premiership. you would never get 30,000 crowds. Link to comment Share on other sites More sharing options...
The9 Posted 26 February, 2010 Share Posted 26 February, 2010 So are they goung to ask all the other clubs in the PL to stump up £3M each to fund this? Can the other members of the PL afford this? Parachute payments are almost certainly directed straight out of incoming (probably tv) revenue before they get to the clubs. They don't give it to them just to take it back off them again to give to someone else. Link to comment Share on other sites More sharing options...
The9 Posted 26 February, 2010 Share Posted 26 February, 2010 HMRC will not take less than 100p in the £ ... that itself should be enough to stop the CVA... HMRC are going to use the skates as an example... it's in the public interest as well as HMRC that they are not given any special terms. It's hardly an example if it's just what they've done to almost every other club since 2002. Link to comment Share on other sites More sharing options...
Seaford Saint Posted 26 February, 2010 Share Posted 26 February, 2010 The assumption that Pompey is our great rival ignores the history of our club and is, IMHO, just plain wrong. Pompey were never our rivals, in my lifetime, nor anyone elses. Our true rival for many years was Manchester United and that fact just shows how far we have fallen. The good thing is, I can see, again in my lifetime, that rivalry resuming... ...and Pompey. My feelings towards them at the moment are pretty close to the feeling I have when I scrape dog sh !t off my shoe. Glad to be rid and my only concern is the lingering smell... Man U our rivals .....mmmm, not sure about that!!! Link to comment Share on other sites More sharing options...
100%Red&White Posted 26 February, 2010 Share Posted 26 February, 2010 If we had a stadium the same size as yours and got average 30,000 crowds Corp Ho-Ho-Ho-Ha-Ha-Ha :smt036 Link to comment Share on other sites More sharing options...
StuRomseySaint Posted 26 February, 2010 Share Posted 26 February, 2010 It's hardly an example if it's just what they've done to almost every other club since 2002. And why should they not? This is tax money, it effects me, you and every other person in this land... they hopefully won't budge an inch, even more so because of the public interest. Link to comment Share on other sites More sharing options...
Doctoroncall Posted 26 February, 2010 Share Posted 26 February, 2010 Originally Posted by The9: One of the things they will request is advancement of £60m parachute payments due over next 2 years I think the parachute payments are half that considering the play-off final is often called the game with most at stake at £60m (£30m for first year and £30m for parachute payments). Can anyone confirm? Link to comment Share on other sites More sharing options...
Crab Lungs Posted 26 February, 2010 Share Posted 26 February, 2010 Trevor Watkins on Talksport at the moment, former Bournemouth chairman - he's been absolutely spot on with his comments... Link to comment Share on other sites More sharing options...
saintbletch Posted 26 February, 2010 Share Posted 26 February, 2010 But Portpin owned the club prior to Administration. I'm not sure what your point is. I'm pretty sure that wouldn't stop Portpin or the owners of that company from buying the shell from the administrators. And it's the only way that it would make sense to throw more good money after bad. Not convinced there's so much cost to be cut in the short term - after all their biggest cost will be player wages and with fixed term contracts they can't fire them. Not looking great for the tea lady Benjii last night confirmed that player's contracts can be "disclaimed" (I think that was the term he used) when in administration, which basically means they are cancelled. So if you're Portpin and you can't afford to pay these high earners, and you can't get out of the contracts, then admin is a way to do that. Link to comment Share on other sites More sharing options...
RonManager Posted 26 February, 2010 Share Posted 26 February, 2010 Man U our rivals .....mmmm, not sure about that!!! As GM says, back in the 70s ManUre most definitely were our most hated rivals. Pompey were rivals as well, but we hardly ever played them so it was all a bit low level. Link to comment Share on other sites More sharing options...
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