View From The Top Posted 15 December, 2009 Posted 15 December, 2009 The Guardian report that they still owe Chelsea a "seven figure sum" for Glenn Johnson. Surely this is something the football authorities have to look at? Clubs, when trading players, should surely be obliged to pay off any outstanding debt on that player, before banking the transfer fee. What they've allowed Portsmouth to do here is akin to selling a house and banking the money without paying off the mortgage. Reports suggest that £750,000 is due to Chelsea in Jan'.
krissyboy31 Posted 15 December, 2009 Posted 15 December, 2009 Reports suggest that £750,000 is due to Chelsea in Jan'. Even more bizarre is that they still owe Tottenham for Defoe, even though he has been "repossessed".
Nadia Sllim Posted 15 December, 2009 Posted 15 December, 2009 £750,000 does that include the toilet seat?
Spudders Posted 15 December, 2009 Posted 15 December, 2009 From the sun today http://www.thesun.co.uk/sol/homepage/sport/football/2771817/Chelsea-make-money-order.html "CHELSEA have rejected Portsmouth's request for more time to pay the £750,000 still owed from Glen Johnson's transfer to Fratton Park. Crisis club Pompey asked the Premier League yesterday to lift their current transfer embargo - but the ban will remain in place until they can prove they are in a position to pay ALL of their outstanding transfer debts to English clubs. Premier League chiefs now look certain to withhold the £7.5million TV money due in January in order to settle Pompey's missed payments. Portsmouth, who are £35m in debt, agreed to pay £3m for right-back Johnson when they signed him from Chelsea in August 2007. But they have been unable to stump up all the cash, despite selling the player to Liverpool for £18m this July. The south coast club also still owes money over the purchases of Sulley Muntari, John Utaka, Lassana Diarra, Younes Kaboul, Nadir Belhadj, Mike Williamson and Tommy Smith. But in all those cases a payment schedule has now been agreed with the selling club. Chelsea, though, are not prepared to wait and have demanded their money immediately"
Verbal Posted 15 December, 2009 Posted 15 December, 2009 I can't remember where I saw it, but a Premier League spokesman was quoted today as saying that the league couldn't countenance a Premier League team causing a Football League club to go into administration. I think he's referring to Watford. That would indeed be shocking - and hopefully a sign that Pompey won't be easily let off the hook over the £10 million-worth of debts that need to be repaid within the month. I'm sticking with my end of January prediction for Adminsitration at Pompey. It can't possibly go on beyond that.
bridge too far Posted 15 December, 2009 Posted 15 December, 2009 Off at a slight tangent - Watford's Board all resigned tonight at their AGM. Probably for financial reasons - shame if it was because they weren't paid what they were owed.
St Chalet Posted 15 December, 2009 Posted 15 December, 2009 Off at a slight tangent - Watford's Board all resigned tonight at their AGM. Probably for financial reasons - shame if it was because they weren't paid what they were owed. In fairness if my company was in the poo and I had sold two of the company's most valuable assets to another company that couldn't pay and ultimately could go bust without the possibility to recover those assets on default - I'd be made to resign by the shareholders.
Colinjb Posted 15 December, 2009 Posted 15 December, 2009 If Watford went into Admin, would the Skates still owe the full sum of debt?
Jimmy_D Posted 15 December, 2009 Posted 15 December, 2009 Off at a slight tangent - Watford's Board all resigned tonight at their AGM. Probably for financial reasons - shame if it was because they weren't paid what they were owed. Owner has also called in his loans to the club; secured against the stadium, so it looks like they're gonna lose that unless they get the money Pompey owe them... Any and all good feeling that previously existed towards Pompey will disappear if they can't pay up.
Colinjb Posted 15 December, 2009 Posted 15 December, 2009 Owner has also called in his loans to the club; secured against the stadium, so it looks like they're gonna lose that unless they get the money Pompey owe them... Any and all good feeling that previously existed towards Pompey will disappear if they can't pay up. As the Skates are a creditor, and the owner has called in all money, could he inadvertantly send them into Admin?
CB Saint Posted 15 December, 2009 Posted 15 December, 2009 If Watford went into Admin, would the Skates still owe the full sum of debt? Yep - although they would have to pay the administrator and not Watford
Clapham Saint Posted 15 December, 2009 Posted 15 December, 2009 If Watford went into Admin, would the Skates still owe the full sum of debt? Yes.
mightysaints Posted 15 December, 2009 Posted 15 December, 2009 My boys team played Hordean in the Hants cup last Sunday, Shaun Gayle was there and mentioned that Pompey owe monies to firms all over the city. Admin is just round the corner.
Clapham Saint Posted 15 December, 2009 Posted 15 December, 2009 As the Skates are a creditor, and the owner has called in all money, could he inadvertantly send them into Admin? No. Watford would have to issue a statutory demand against the skates to start the ball rolling. This could be issued by an administrator of Watford, if one is appointed.
Gemmel Posted 15 December, 2009 Posted 15 December, 2009 As the Skates are a creditor, and the owner has called in all money, could he inadvertantly send them into Admin? More techincally than inadvertantly, but i guess you prioritise who you pay when you are in their situation. I'm guessing Watford have just shot up list in terms of who gets paid next
Gemmel Posted 15 December, 2009 Posted 15 December, 2009 No. Watford would have to issue a statutory demand against the skates to start the ball rolling. This could be issued by an administrator of Watford, if one is appointed. Clapham will know best ignore my post above
Clapham Saint Posted 15 December, 2009 Posted 15 December, 2009 More techincally than inadvertantly, but i guess you prioritise who you pay when you are in their situation. I'm guessing Watford have just shot up list in terms of who gets paid next He might make Watford's need to be harsh with the skates more pressing (although they seem to be pretty up against it in any event) however the skates don't owe the watford chairman (in his personal capacity) any money.
suewhistle Posted 15 December, 2009 Posted 15 December, 2009 Also in The Guardian Monday: http://www.guardian.co.uk/football/2009/dec/14/portsmouth-premierleague
OldNick Posted 16 December, 2009 Posted 16 December, 2009 they are bound to go and win at Chelsea tonight.
Colinjb Posted 16 December, 2009 Posted 16 December, 2009 According to Talksport Watford have suspended all shares, they owe 5 million by the end of today, the Skates will be responsible for a fair chunk of that.
Thedelldays Posted 16 December, 2009 Posted 16 December, 2009 skates owe chelsea 750k right now...for the purchase of johnson.. chelsea now want the money as they are about to spend in january... Pompey have asked if the payment can be put off...chelsea said no..lol
View From The Top Posted 16 December, 2009 Posted 16 December, 2009 According to Talksport Watford have suspended all shares, they owe 5 million by the end of today, the Skates will be responsible for a fair chunk of that. The EPL will not allow a CCC to go to the wall because of the non payment of transfer fees by a EPL club.
stevegrant Posted 16 December, 2009 Posted 16 December, 2009 Watford won't be due that much immediately because of the way transfer fees are generally paid these days. Most players are bought on hire purchase these days, so they'd only be due a relatively small percentage of the overall fees.
angelman Posted 16 December, 2009 Posted 16 December, 2009 Not necessarily. While you are of course right that fees are usually paid over a period of time, this is not always the case. ManU asked Real Madrid for all payment up front with Ronaldo. I imagine that a club in dire straits like Watford would have asked for payment on a much shorter term than the norm as well. It is a contract and there are no set terms.
Under Weststand Posted 16 December, 2009 Posted 16 December, 2009 Watford won't be due that much immediately because of the way transfer fees are generally paid these days. Most players are bought on hire purchase these days, so they'd only be due a relatively small percentage of the overall fees. Surely all that will change if they go into administration. Maybe totally wrong but the administrators would be calling in all owed money wouldn't they?
stevegrant Posted 16 December, 2009 Posted 16 December, 2009 Surely all that will change if they go into administration. Maybe totally wrong but the administrators would be calling in all owed money wouldn't they? No, because they will have agreed terms on when they are paid. They may do what we did with the Theo Walcott and Gareth Bale transfers and negotiate a reduced but final settlement so they get more money immediately but less overall, but given that they'll be trying to negotiate with a club with a similar number of pots to p!ss in, I can't see how they'll get any agreement there.
Under Weststand Posted 16 December, 2009 Posted 16 December, 2009 No, because they will have agreed terms on when they are paid. They may do what we did with the Theo Walcott and Gareth Bale transfers and negotiate a reduced but final settlement so they get more money immediately but less overall, but given that they'll be trying to negotiate with a club with a similar number of pots to p!ss in, I can't see how they'll get any agreement there. That's fair enough then Steve just not sure of the intricacies of administration & what they can & cannot ask/demand of debtors. Whatever it is a sorry sorry mess all around.
Clapham Saint Posted 16 December, 2009 Posted 16 December, 2009 That's fair enough then Steve just not sure of the intricacies of administration & what they can & cannot ask/demand of debtors. Whatever it is a sorry sorry mess all around. Agreed with regard to Watford. I consider it a merry and glorious mess with regard to the fishy ones.
CB Saint Posted 16 December, 2009 Posted 16 December, 2009 After this fiasco do you think the EPL should set up some sort of clearing house for transfer funds so when a player is sold on, the EPL will pay out to any club who is owed money prior to paying the balance to the selling club. That would avoid some of the mess that currently exists.
bristolsaint29 Posted 16 December, 2009 Posted 16 December, 2009 http://www.wfcforums.com/showthread.php?t=31657 This is all interesting, talk of a merge with QPR and an extra promotion place from league one!!!!!
OldNick Posted 16 December, 2009 Posted 16 December, 2009 http://www.wfcforums.com/showthread.php?t=31657 This is all interesting, talk of a merge with QPR and an extra promotion place from league one!!!!! Not a hope I would have thought
saints_is_the_south Posted 16 December, 2009 Posted 16 December, 2009 http://www.wfcforums.com/showthread.php?t=31657 This is all interesting, talk of a merge with QPR and an extra promotion place from league one!!!!! Got to be a wind up surely!? The weirdest thing is that the majority of Watford fans on there seem happy enough to let it happen. I know for sure if back in the summer we were offered a merger with Reading for example or start from scratch I know what my choice would be.
hypochondriac Posted 16 December, 2009 Posted 16 December, 2009 Got to be a wind up surely!? The weirdest thing is that the majority of Watford fans on there seem happy enough to let it happen. I know for sure if back in the summer we were offered a merger with Reading for example or start from scratch I know what my choice would be. but we are a much larger club than reading. If reading had asked for a merger with us?
Red Alert Posted 16 December, 2009 Posted 16 December, 2009 On Sky Sports News apparently they have big news expected from Watford within the next half hour. Can't see it being a merger though. But you never know with QPR I suppose.
rallyboy Posted 16 December, 2009 Posted 16 December, 2009 if that's the way forward for football we will have the holy war consortium from down the road knocking on the door for a chat pretty soon. And what would Pompey bring to the party?... A data base we could sell to Lidl? Tips on where to sell our scrap gold? Towbar advice? Not much else these days - don't think we'll get too deep into merger talks ta.
EastleighSoulBoy Posted 16 December, 2009 Posted 16 December, 2009 if that's the way forward for football we will have the holy war consortium from down the road knocking on the door for a chat pretty soon. And what would Pompey bring to the party?... A data base we could sell to Lidl? Tips on where to sell our scrap gold? Towbar advice? Not much else these days - don't think we'll get too deep into merger talks ta. I could just see NC & ML going for that! Along with us fans. I need to lie down, my brain hurts.
Whitey Grandad Posted 16 December, 2009 Posted 16 December, 2009 On Sky Sports News apparently they have big news expected from Watford within the next half hour. Can't see it being a merger though. But you never know with QPR I suppose. Big news in Watford could be anything, like a broken manhole cover....
krissyboy31 Posted 16 December, 2009 Posted 16 December, 2009 if that's the way forward for football we will have the holy war consortium from down the road knocking on the door for a chat pretty soon. And what would Pompey bring to the party?... A data base we could sell to Lidl? Tips on where to sell our scrap gold? Towbar advice? Not much else these days - don't think we'll get too deep into merger talks ta. Nowt! Except...................................................:-k Premier League status!!! :-k Na, second thoughts, we'll get that by ourselves!!!
Evil Monkey Posted 16 December, 2009 Posted 16 December, 2009 How could a merger work half way through the season anyway? Two sets of season ticket holders. Will they all fit into one stadium? Obviously they cant fulfill both sets of fixtures, so what happens to the missing games? Are they awarded to the opposition by default? Very unfair to teams who have lost points to either side already this season.
saints_is_the_south Posted 16 December, 2009 Posted 16 December, 2009 but we are a much larger club than reading. If reading had asked for a merger with us? Meh, make it Chelsea or whoever then, that wasn't really my point tbf. Whoever it was I wouldn't want us to be merging, whether it be with Barcelona or Bournemouth.
Greenridge Posted 17 December, 2009 Posted 17 December, 2009 Bless them, they've released a charity single for Christmas
Pancake Posted 17 December, 2009 Posted 17 December, 2009 Bless them, they've released a charity single for Christmas Excellent
krissyboy31 Posted 17 December, 2009 Posted 17 December, 2009 Bless them, they've released a charity single for Christmas Lol, at least they've got a sense of humour, if no other sense.
ribbo Posted 17 December, 2009 Posted 17 December, 2009 After this fiasco do you think the EPL should set up some sort of clearing house for transfer funds so when a player is sold on, the EPL will pay out to any club who is owed money prior to paying the balance to the selling club. That would avoid some of the mess that currently exists. They should enforce a full payments only transfer system with an optional future%transfer clause to stop this staggered payments nonsense that's a large part of this mess and help the smaller clubs further down the pyramid, they should also limit squad sizes (with an increased squad size for teams in european competition) to stop top clubs hoarding talent. 2 simple steps to draw back inline the money madness that we've seen in recent years, yes it may damage the EPL brand and mean we cant get the best talent in europe but it would stop clubs gambling on future success to save a managers or chairmans arse.
OldNick Posted 17 December, 2009 Posted 17 December, 2009 Lol, at least they've got a sense of humour, if no other sense.its done by a spurs fan taking the pee
Crab Lungs Posted 17 December, 2009 Posted 17 December, 2009 Bless them, they've released a charity single for Christmas LMAO, even neutrals are taking the **** out of them.... Gutted you skate f...ckers, we'll see you very, very soon.
Whitey Grandad Posted 17 December, 2009 Posted 17 December, 2009 Bless them, they've released a charity single for Christmas Are they asking for money now? Is Portsmouth FC a registered charity????
CB Saint Posted 17 December, 2009 Posted 17 December, 2009 Are they asking for money now? Is Portsmouth FC a registered charity???? Nah, charities are worthwhile causes
badgerx16 Posted 17 December, 2009 Posted 17 December, 2009 They might soon need to make use of the services of their shirt sponsors, wonder if they'll get a discount ?
Danbert Posted 17 December, 2009 Posted 17 December, 2009 Check out this highly amusing (in places) festive satire on Pompey's plight:
Recommended Posts