Pompey Takeover Saga

[Gorgiesaint]

As an aside it has been rumoured that some of their financial problems was due to excessive win bonuses from when they 'won' the cup last time. I assume, in a show of solidarity with the other staff, that the players have all come out and publicly said they will forgo their win bonuses this time??

 

Well, for their sake, I hope they have as it would appear that PFC won't be getting their grubby mitts on any of their prize money

 

http://www.timesonline.co.uk/tol/sport/football/article7053083.ece

 

Actually just listening to Talksport this morning and they have an advert for the anti-terrorist hotline - if you see anything suspicious... there's no such thing as a wasted call.... does that include money laundering arms dealers? Sooooo tempting!!

[dubai_phil]

An observer might suggest that it appears that they are 'pretending to be in administration' to limp away from the winding up order and towards the modest sanctuary of another Sky payment, with a masterplan of hopping back out of this suspended state when the points penalty drops on the mat.

 

Why else would the administrator not be slashing costs like an axeman?

He is clearly confident of his own position (even though others aren't), he needs to turn the business around, yet all loan players are still happily trousering cash and the club is carrying on regardless, overpaid Storrie is still there (?!!!!) - when will the authorities appreciate that behind all the spin and the 'poor old plucky Pompey' campaign they are still making no effort to address debt.

 

Shameful.

 

It's good to see the rest of football is now waking up to the cheating aspect.

 

Oh that's not fair. There were definite references over the weekend to the cut backs. Many articles clearly stated that they did not provide free meals and beverages to their staff which means that they will have saved well in excess of a few hundred pounds

[dubai_phil]

Well, for their sake, I hope they have as it would appear that PFC won't be getting their grubby mitts on any of their prize money

 

http://www.timesonline.co.uk/tol/sport/football/article7053083.ece

 

Actually just listening to Talksport this morning and they have an advert for the anti-terrorist hotline - if you see anything suspicious... there's no such thing as a wasted call.... does that include money laundering arms dealers? Sooooo tempting!!

 

Interesting way that is worded, so it looks like a leak from the FA.

 

As said above, others have now started to wake up to where the money may well have been going

[NickG]

According to rule 5(f), if a club "becomes subject to an insolvency event", the FA "will then decide whether to allow that club to continue to compete", with administration listed among the insolvency events.

[Gorgiesaint]

So, the latest story is that he has a secured creditor (Chanrai) the current shareholder and owner. His loans were £17.5M, secured by way of a charge on Fratton Park, but are now £13.5M as Chanrai has prepaid (sic) £4M of this. As I say, the grammar is appalling, but I think the moron is trying to convince the reader that Chanrai has a fixed and floating charge. I must admit, it is rare to see a creditor repaid 25% of a loan, but still manage to obtain further security, after a winding up petition.

 

Why would a club that owes £70-80m, pre-pay one of their debts? That just does not make any sense until you realise that the creditor is Chainrai. And I would assume that the £4m that they have used was the £4m that they were going to pay to HMRC? Or did that really exist?

 

"The bottom line is the club is now seeking £30 million to deal with creditors, for working capitol and to secure the club going forward. We have two very serious interested parties and I have asked them to show a commitment by putting forward a month's wages of £3.5 million, and I am waiting to see if this happens."

 

The administrator accepted there has already been wholesale cutbacks, including savage cuts in staff, and even on food and drink. He said: "We are not running a hotel here. I am afraid we're even ending the free food for the reporters - sorry about that."

 

So the administrator is still seeking £30m for working capital - I thought he had 'secured' the funds to see them through to the end of the season - and he wants this months wages from any interested party!!

 

There has already been savage cutbacks in staff - errr where?

[pedg]

For the guardians Today in Sport thing before the link to the article about AFC Pompey groundsharing with H&W

 

http://www.guardian.co.uk/sport/blog/2010/mar/08/today-in-sport-8-march

Portsmouth are due in court again on 15 March when the process by which they went into administration is under challenge from Her Majesty's Revenue & Customs.

They expect to settle that case in their favour, possibly this week

 

[tony13579]

http://soccernet.espn.go.com/news/story?id=752426&sec=england&campaign=rss&source=soccernet

I think he is saying it will take 7-8million to reach the end of the season if we just pay the take home pay and continue to increase our tax debt!

[OldNick]

the sale and leaseback was not done.... but how could it be if Chanrai has a floating charge on it? It all gets murkier and murkier the shadow has become larger rather than diminished IMO

[slickmick]

Readers may recall this wild speculation on my part. It seems that this may have been confirmed by the intrepid administrator. Despite the appalling grammar, this was what Harry Harris quoted Andrew Andronikou saying, as he made his lawyers job a lot harder, in this article.

 

"The administrator is seeking something like £30 million from a new owner to underwrite creditors, and take the club forward. He continued: "We have a secured creditor for £13.5 million, and that is the current shareholder and owner who has fixed and floating debenture, which means Fratton Park, the players and all assets of the club.

"There had been loans of £17.5 million but Chainrai has prepaid £4 million of that, and he continues to have a charge over all the assets. The proposed sale and lease back of Fratton Park did not materialise because it had not been completed before I came into the club."

 

So, the latest story is that he has a secured creditor (Chanrai) the current shareholder and owner. His loans were £17.5M, secured by way of a charge on Fratton Park, but are now £13.5M as Chanrai has prepaid (sic) £4M of this. As I say, the grammar is appalling, but I think the moron is trying to convince the reader that Chanrai has a fixed and floating charge. I must admit, it is rare to see a creditor repaid 25% of a loan, but still manage to obtain further security, after a winding up petition. I love the last sentence. This was what was reported on the 20th February, in the Echo:

 

PORTSMOUTH no longer own Fratton Park, it has been reported today.

It is claimed that Balram Chainrai has written off £10m of the £17m Pompey owe him.

In exchange, he has taken ownership of the ground.

Mr Chainrai has leased the venue back to the club over a period of 15 years.

The club will have to pay him £1m a year to rent the facility.

 

I'd be interested in how others interpret Andrew Andronikous' gibberish...

 

Who paid the wages last month and from who's account ?

[OldNick]

For the guardians Today in Sport thing before the link to the article about AFC Pompey groundsharing with H&W

 

http://www.guardian.co.uk/sport/blog/2010/mar/08/today-in-sport-8-march

Portsmouth are due in court again on 15 March when the process by which they went into administration is under challenge from Her Majesty's Revenue & Customs.

They expect to settle that case in their favour, possibly this week

 

Is that the case of whether they were correct in going into admin or settle the HMRC so the high court move off. I suggest that there are some despereate attempts to get the money to the HMRC at all costs so they dont have that court date and their paperwork does not need to be taken to court.

[Guided Missile]

Why would a club that owes £70-80m, pre-pay one of their debts? That just does not make any sense until you realise that the creditor is Chainrai. And I would assume that the £4m that they have used was the £4m that they were going to pay to HMRC? Or did that really exist?

Chanrai offered Her Majesty's Revenue and Customs an immediate ­payment £1.8m on an outstanding VAT bill of about £7.5m in the hope of being granted more time to find the remaining money to avoid administration, according to this article dated 9th February. Coincidently this is just a few days after Chanrai/Portpin snagged £4M from PCFC's client account at Fuglers, after the Kaboul/Begovic transfers, so I guess he could afford it. The offer was rejected, presumably because HMRC wanted all of the outstanding bill paid.

 

Sounds so dodgy, as the dates of these transactions are after the winding up petition and no wonder HMRC are p! ssed off.

[slickmick]

Solent reporting the Administrator may delay redundancies until after the next court hearing. The Administrators confidence is slipping fast

 

 

The first job the administrator should have carried out would have been cost cutting.

Yet Peter Storie and a number of loan players still seem to be draining resources.

What exactly has the administrator done since he's been there ?

The nine points haven't been deducted yet either, so are they legally in administration or not ?

[pedg]

http://soccernet.espn.go.com/news/story?id=752426&sec=england&campaign=rss&source=soccernet

I think he is saying it will take 7-8million to reach the end of the season if we just pay the take home pay and continue to increase our tax debt!

We have two very serious interested parties and I have asked them to show a commitment by putting forward a month's wages of £3.5 million, and I am waiting to see if this happens."

So he has asked TWO parties both to put forward 3.5M to club that could be wound up in a week's time??

 

plus..

 

"But there have been questions raised about my independence and objectivity, so to help protect that independence it would be best for the Premier League to secure the club fulfilling its fixtures and enable me to sell the club to the highest bidder."

Eh? How will getting money from the PL change the situation if you are Chainrais lapdog?

[slickmick]

Is that the case of whether they were correct in going into admin or settle the HMRC so the high court move off. I suggest that there are some despereate attempts to get the money to the HMRC at all costs so they dont have that court date and their paperwork does not need to be taken to court.

 

And I bet they do some how.

 

Thinking aloud here, what if they pay off HMRC before next Monday then declare that they made a mistake with the administration process by allowing Chainrai creditor status ?

[buctootim]

Scott, I can only think that many posters on here live miles away from the frontline! The complete failure to take the gentlest jibes on the chin suggests to me were I a Saint, I wouldn't want to be in the trenches with them.

 

Thats true. Unfortunately we have mongs on both sides. Billionaire and gun running fraudster owners come and go. The test of fans is not only who sticks around when times are bad but also who can refrain from bigging themselves up when good fortune like a clean welathy owner comes their way.

 

I live in Brighton and went past the new stadium yesterday. Brighton have endured 15 years of ****e since losing their ground - even sharing with Gillingham of all places - but the corner is eventually being turned and Im delighted for them.

 

[JackFrost]

The first job the administrator should have carried out would have been cost cutting.

Yet Peter Storie and a number of loan players still seem to be draining resources.

What exactly has the administrator done since he's been there ?

The nine points haven't been deducted yet either, so are they legally in administration or not ?

 

I don't think anything will happen until after this court case. If the administrator started laying people off when his own position isn't legally allowed, there are even more serious legal repercussions.

 

The PL aren't going to do anything points wise until after the court case. They need to cover their backs. Even if Pompey stayed up with a 9 point deduction, the PL would still come up with some financial irregularity (-15) penalty at the end of the season. Pompey are down, the PL will make sure of it.

 

It's the court case that is the key day. Putting my prejudices aside, I can see HMRC getting their way and this being a key date in football history, and a big statement to all other clubs.

 

I can see them going to the wall, I really can

[Guided Missile]

Who paid the wages last month and from who's account ?

I think it is possible that the Premier League paid the wages from the funds they held back. They paid the January wages, but I guess it's possible they may have paid the February wages as well....

...although, I assume the £8M the club negotiated for the transfer of Kaboul and Begovic was net of VAT....so, it is possible that the wages were paid from the £1.4M of VAT which would explain why the money owed to HMRC has increased substantially from the original £7.5M amount they were claiming in the winding up order.

[Channon's Sideburns]

Anyone else hear Avram on Solent this morning - in response to the claims that they should be chucked out of the cup....

 

'It would not be fair on the players, on the fans'

 

Yeah right. Reality check Frog-Boy.

 

The club you represent, has evaded paying tax.

The club you represent, has signed players when they could not afford them.

The club you represent, has tried EVERY dodgy tactic to avoid paying HMRC.

The club you represent, has used players they had no right to sign to WIN FA Cup games.

 

The club you represent, is run by a CEO who has been charged with tax evasion.

The club you represent, has put itself into Administration when it has yet to be proved whether it was entitled to.

 

So, Avram, no sympathy. Been paid yet????

 

Next time you think everyone's against you, go and ask Peter Storrie why.

 

 

---

 

Oh and whilst I'm on a rant....

 

I'M SICK AND TIRED OF THE MEDIA MAKING POMPEY OUT TO BE MARTYRS. 'POOR POMPEY' - POOR MY AR$E.

 

WHEN ARE ONE OF THEM GOING TO MENTION THE SMALL MATTER OF TAX EVASION WHICH COULD BE USED IN THIS COUNTRY'S SCHOOLS AND HOSPITALS?

 

Solent got some stick (Kris Temple mentioned it) on Saturday regarding the 'Pompey Show' during the 'exclusive' Saints commentary.

 

They have to be fair to all, but also on a journalistic standpoint, they have to comment on the good AND BAD.

 

They always steer clear of condemning the actions of those running the club....

Edited 8 March, 2010 by Channon's Sideburns

[foghorn]

 

I live in Brighton and went past the new stadium yesterday. Brighton have endured 15 years of ****e since losing their ground - even sharing with Gillingham of all places - but the corner is eventually being turned and Im delighted for them.

 

 

Already looks better than Farton park

[HK_Phoey]

There was comment on here that he would be in dodgey legal waters if he made redundancies and later found not to be legally in administration.

 

I have been thinking this since lasst week. If there is doubt over the legitimacy of the administrators appointment, don't really see how he can do much until it is confirmed one way or the other.

[Colinjb]

Thats true. Unfortunately we have mongs on both sides. Billionaire and gun running fraudster owners come and go. The test of fans is not only who sticks around when times are bad but also who can refrain from bigging themselves up when good fortune like a clean welathy owner comes their way.

 

I live in Brighton and went past the new stadium yesterday. Brighton have endured 15 years of ****e since losing their ground - even sharing with Gillingham of all places - but the corner is eventually being turned and Im delighted for them.

 

 

Wow, I had no idea it had progressed so far! Last I heard about it the planning permission request had been submitted to parliament.

 

Great news for them, will be great to see how they progress once they have settled in.

[Goalie66]

I don't think anything will happen until after this court case. If the administrator started laying people off when his own position isn't legally allowed, there are even more serious legal repercussions.The PL aren't going to do anything points wise until after the court case. They need to cover their backs. Even if Pompey stayed up with a 9 point deduction, the PL would still come up with some financial irregularity (-15) penalty at the end of the season. Pompey are down, the PL will make sure of it.

 

It's the court case that is the key day. Putting my prejudices aside, I can see HMRC getting their way and this being a key date in football history, and a big statement to all other clubs.

 

I can see them going to the wall, I really can

 

If the Administrator knows his position is untenable because he knows the facts re Chanrais claims as a preferred creditor are false he should resign.

 

If the Administrator has PROOF that Chanrai is a prefferred creditor and I am certain he has demanded that, then his inertia is criminally negligent as he is allowing PCFC to accumulate MORE debt.

 

It really makes my blood boil that cheats are not brought to justice.It really does.

[pedg]

It looks like that even android has accepted they will get the 9 point penalty (see soccernet link) but even with this the other clubs at the bottom are so bad that they still probably have an outside chance of staying up. Given this one assumes that their tremendous support will all forgo an evening watching champions league on the TV to make the home league match against Birmingham tomorrow a sell out?

[Channon's Sideburns]

The other thing that gets my goat is how the Pompey fans seem to accept everything that happens....

 

So, they have ONE protest.

 

They follow that up with.....nothing.

 

No protests about the removal of Storrie....or anything.

 

Why?

[slickmick]

I don't think anything will happen until after this court case. If the administrator started laying people off when his own position isn't legally allowed, there are even more serious legal repercussions.

 

Thats happened since, prior to the new court case nothing had been done by the admin team. Almost sounds like they aren't sure themselves.

[sunrise]

The tax-dodging tossers will get out of it.

[slickmick]

The other thing that gets my goat is how the Pompey fans seem to accept everything that happens....

 

So, they have ONE protest.

 

They follow that up with.....nothing.

 

No protests about the removal of Storrie....or anything.

 

Why?

 

 

I was thinking that the other day, not even any protest banners on Saturday.

[charliemiller]

Thats happened since, prior to the new court case nothing had been done by the admin team. Almost sounds like they aren't sure themselves.

 

Just been listening to Talksport debating the Pompey situation , seems the Administrator has stated he cant see enough income to get the club to the end of the season !!

 

One of the callers from Yeovil ( a pompey fan) just sited orson wells stating football was the "opium of the masses" and as such should be saved by the goverment lumping in 50 million to keep them afloat as they did with RBS !!!

 

I nearly crashed Laughing deluded fools

[buctootim]

The other thing that gets my goat is how the Pompey fans seem to accept everything that happens....

 

So, they have ONE protest.

 

They follow that up with.....nothing.

 

No protests about the removal of Storrie....or anything.

 

Why?

 

Its a bit like protesting about a car crash though isnt it. When RL was around lots of people thought Saints had better options, rightly if luckily as it turned out. I think the blue few genuinely fear no one would be mad enough to take them on now.

[JackFrost]

The other thing that gets my goat is how the Pompey fans seem to accept everything that happens....

 

So, they have ONE protest.

 

They follow that up with.....nothing.

 

No protests about the removal of Storrie....or anything.

 

Why?

 

Cos they have the best fans in the world

[Whitey Grandad]

Just been listening to Talksport debating the Pompey situation , seems the Administrator has stated he cant see enough income to get the club to the end of the season !!

 

One of the callers from Yeovil ( a pompey fan) just sited orson wells stating football was the "opium of the masses" and as such should be saved by the goverment lumping in 50 million to keep them afloat as they did with RBS !!!

 

I nearly crashed Laughing deluded fools

Karl Marx actually (and it was religion). Orson Wells was also wrong about the cuckoo clock.

[Goalie66]

Just been listening to Talksport debating the Pompey situation , seems the Administrator has stated he cant see enough income to get the club to the end of the season !!

 

One of the callers from Yeovil ( a pompey fan) just sited orson wells stating football was the "opium of the masses" and as such should be saved by the goverment lumping in 50 million to keep them afloat as they did with RBS !!!

 

I nearly crashed Laughing deluded fools

 

So it was Lenin who read "War of the Worlds" on American radio !! Well I never

[Third Division South Days]

http://www.dailystar.co.uk/columnists/view/125367/Skint-Portsmouth-deserve-sweet-FA-out-of-Cup

 

Poopey are certainly losing friends at a fast rate in the written media.

[dubai_phil]

GM's ex pat rant...

 

There is one very Sad change that has come over the UK since I left and that is The Ambulance Chasing Blame Culture.

 

We are reading it at every turn from the few and their gravy train grabbers in the media. Someone must be to blame, we didn't do it, we're innocent. The Government must give us 50 mil and bail us out.

 

My point about them sleep walking to their doom keeps getting more evidence. STOP WITH THE WE ARE INNOCENT line.

 

You are in DEEP sh1t, John Wayne died many years ago and the only way out is to face the facts and DO something about it!

 

Saying SORRY may be a start, but to keep phoning radio stations and demanding that The Government, The PL, The FA does something is just making you look STUPID.

 

Saints went bust for 4,000 pounds. They had wage bills due of 1 mil. their debts were long term and secured - Did Mark fry beg the Government? Did Rupert call his mates at the PL? Did they try and pull a fast one by telling the fans we were in the cr@p and trying to sell new Season Tickets for 09/10 did they hell.

 

Have ANY of their callers ONCE mentioned that the Government, PL, FA should ALSO help Bournemouth?

 

No, and that is why they stay in such trouble

[Doctoroncall]

Chanrai offered Her Majesty's Revenue and Customs an immediate *payment £1.8m on an outstanding VAT bill of about £7.5m in the hope of being granted more time to find the remaining money to avoid administration, according to this article dated 9th February. Coincidently this is just a few days after Chanrai/Portpin snagged £4M from PCFC's client account at Fuglers, after the Kaboul/Begovic transfers, so I guess he could afford it. The offer was rejected, presumably because HMRC wanted all of the outstanding bill paid.

 

Sounds so dodgy, as the dates of these transactions are after the winding up petition and no wonder HMRC are p! ssed off.

 

I can see this and other Portpin actions through fuglers being of major interest to the court on the 15th to lift the shadow that is now in place at FP. Chainrai has come so close to pulling this off except for those pesky HMRC "kids".

 

I also wonder what AA has to tell, is he going down the dumb route of not all info was available or will he be prepared to spill the beans about his appointment and what he has found at FP beyond that of the Vantis SoA?

[Channon's Sideburns]

I can see this and other Portpin actions through fuglers being of major interest to the court on the 15th to lift the shadow that is now in place at FP. Chainrai has come so close to pulling this off except for those pesky HMRC "kids".

 

I also wonder what AA has to tell, is he going down the dumb route of not all info was available or will he be prepared to spill the beans about his appointment and what he has found at FP beyond that of the Vantis SoA?

 

Perhaps he realises that what he will earn out of it, isn't worth the hassle....

[Weston Saint]

Just been listening to Talksport debating the Pompey situation , seems the Administrator has stated he cant see enough income to get the club to the end of the season !!

 

One of the callers from Yeovil ( a pompey fan) just sited orson wells stating football was the "opium of the masses" and as such should be saved by the goverment lumping in 50 million to keep them afloat as they did with RBS !!!

 

I nearly crashed Laughing deluded fools

Another lie to the courts then. He told the judge they had funding. HMRC & Judge asked for better evidence than a signed note from Chainrai.

 

Seems to me the Administrator, by various actions and comments in the last few days, knows that Chainrai did not have the power to put them into Administration and that Chainrai is not likely to fund without that status.

 

It gets worse for the blue few but nothing more than we have been saying on here for a while now

[JackFrost]

If the Administrator knows his position is untenable because he knows the facts re Chanrais claims as a preferred creditor are false he should resign.

 

If the Administrator has PROOF that Chanrai is a prefferred creditor and I am certain he has demanded that, then his inertia is criminally negligent as he is allowing PCFC to accumulate MORE debt.

 

It really makes my blood boil that cheats are not brought to justice.It really does.

 

But this is IMO why HMRC have been very clever regarding the questioning of the administrator's validity. If Andronikou does lay people off he risks getting deep in legal issues, if he doesn't "Pompey have made little or no effort to reduce their costs etc.etc."

 

Pompey are damned if they do and damned if they don't.

[slickmick]

Another lie to the courts then. He told the judge they had funding. HMRC & Judge asked for better evidence than a signed note from Chainrai.

 

Seems to me the Administrator, by various actions and comments in the last few days, knows that Chainrai did not have the power to put them into Administration and that Chainrai is not likely to fund without that status.

 

It gets worse for the blue few but nothing more than we have been saying on here for a while now

 

 

I wonder if they will walk, before next week.

[pedg]

I wonder if they will walk, before next week.

 

Anyone have any idea when the actual court case will be? All we have at the moment is sometime next week. Maybe once that is set it will concentrate the minds of android and others?

[dronskisaint]

From Yahoo link - sorry if duplicated. What chance seeing if the FA has the balls to do something the PL hasn't!

 

'FA Cup - Paper Round: Pompey semi doubt

Eurosport - Mon, 08 Mar 08:45:00 2010

 

Buzz Up!

Portsmouth's joy at reaching the semi-finals of the FA Cup could be short-lived as the debt-ridden club face being thrown out of the competition.

 

 

Pompey's victory over Birmingham at the weekend gave their fans a rare chance to celebrate as the club booked a date at Wembley against either Fulham or Tottenham.

 

But the FA are compelled by their own rules - rule 5 (f) to be exact - to make a decision whether to throw the south coast club out of the competition because of their massive debts. (Daily Express)

 

That joyous 2-0 win at Fratton Park has left Jamie O'Hara in an odd situation. The midfielder, on loan at Fratton Park from Spurs, is now hoping Fulham actually beat his parent club, or he will miss out on the trip to Wembley as he will be cup tied. (Daily Mail)

[tony13579]

Anyone have any idea when the actual court case will be? All we have at the moment is sometime next week. Maybe once that is set it will concentrate the minds of android and others?

Monday 15th, All day. Documentry proof needs to be placed with the court proving funding for admin, and that admin was legally appropriate required this week (11th?)

If admin is not legal it will proceed in to a winding up order hearing the same day

Edited 8 March, 2010 by tony13579

[Goalie66]

But this is IMO why HMRC have been very clever regarding the questioning of the administrator's validity. If Andronikou does lay people off he risks getting deep in legal issues, if he doesn't "Pompey have made little or no effort to reduce their costs etc.etc."

 

Pompey are damned if they do and damned if they don't.

 

Good point but if you were the MD of the Administration company you would not want your company's reputation ruined as surely it would be.If I was their MD i would be asking some serious questions to Andronikou and make a decison to get out before it is too late. What do you think ?

[pedg]

Monday 15th, All day. Documentry proof needs to be placed with the court proving funding for admin, and that admin was legally appropriate required this week (11th?)

If admin is not legal it will proceed in to a winding up order hearing the same day

 

Is it actually on Monday? Last I heard it was some time during the week commencing Monday.

[tony13579]

Is it actually on Monday? Last I heard it was some time during the week commencing Monday.

You are right

Matthew: The judge said the promise of money should give the administrators confidence. But he has ordered there will be a hearing in the week commencing March 15 to look at the payments Portpin LTD has lent to the club and money paid to Portpin LTD or Chainrai. The judge said documents needed to be lodged with the court by March 12. The hearing will last a day.

[slickmick]

From Yahoo link - sorry if duplicated. What chance seeing if the FA has the balls to do something the PL hasn't!

 

'FA Cup - Paper Round: Pompey semi doubt

Eurosport - Mon, 08 Mar 08:45:00 2010

 

Buzz Up!

Portsmouth's joy at reaching the semi-finals of the FA Cup could be short-lived as the debt-ridden club face being thrown out of the competition.

 

 

Pompey's victory over Birmingham at the weekend gave their fans a rare chance to celebrate as the club booked a date at Wembley against either Fulham or Tottenham.

 

But the FA are compelled by their own rules - rule 5 (f) to be exact - to make a decision whether to throw the south coast club out of the competition because of their massive debts. (Daily Express)

 

That joyous 2-0 win at Fratton Park has left Jamie O'Hara in an odd situation. The midfielder, on loan at Fratton Park from Spurs, is now hoping Fulham actually beat his parent club, or he will miss out on the trip to Wembley as he will be cup tied. (Daily Mail)

 

 

If they throw them out now then they should have done so before playing us.

[dubai_phil]

Good point but if you were the MD of the Administration company you would not want your company's reputation ruined as surely it would be.If I was their MD i would be asking some serious questions to Andronikou and make a decison to get out before it is too late. What do you think ?

 

Minor technicality

 

http://www.uhy-uk.com/

 

It is a partnership

[saintds]

http://www.dailystar.co.uk/columnists/view/125367/Skint-Portsmouth-deserve-sweet-FA-out-of-Cup

 

Poopey are certainly losing friends at a fast rate in the written media.

 

Think you might be taking things to the extreme by combining that description with that publication!

[OldNick]

If they throw them out now then they should have done so before playing us.

exactly. Whether it is me totally missing the point or the fact that only this forum is missing it.

The PL and FA are desperate to not let their competitions lose their integrity.Therefore it would be a disaster for the 'football family' if Pompey could not fulfill their commitments on the pitch.

The answer to this is to pay the HMRC debt and so the High Court will then not carry on trying to get justice.

NONE of the media have picked up on Dave Richards (Chairman of the PL) involvement in finding the Sheik and introducing him to Pompey and PS. IMO him wishing to keep his place on the PL gravy train will make him very keen that they survive, he wouldnt want to be connected to the embarrassment.

I maintain that they will bale Pompey out of the next court appearance at the 11th hour as their billions of viewers in China India etc dont give a toss about the irregulrities, they want to watch the PL and FA cup being played not byes.

Pompey will get out of it.

[Gemmel]

Is it genuinely accepted that jacobs was pushed out by Fuglers?

 

Assuming the answer is yes, what did he do that that compromised his position