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If P*mpey get wound-up on Friday :Poll:

StuRomseySaint

By StuRomseySaint,
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alpine_saint

alpine_saint

Posted
Posted
Looks like FIFA may be waiving the registration rules then...

 

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

 

Frankly this makes a mockery of the entire competition. Why would any club now adhere to the transfer window rules ?

 

EDIT : Though to be fair there's a big leap between "FIFA looking favourably on a request to do something they are already allowed to do" and the assumption in the BBC article (as of now) that that will allow players to play for other teams in the Prem.

 

Grabbing the text before they update it :

Fifa could support Portsmouth request to sell players

 

The Fratton Park club survived a winding-up order last week

Fifa has indicated they will look favourably on Portsmouth's request to sell players outside of the transfer window, BBC Sport understands.

 

Pompey have debts of about £60m and are due in court on 1 March to contest a winding-up order by Her Majesty's Revenue and Customs.

 

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

 

It is likely any players sold would only be allowed to play in the Premier league, not any other competitions.

 

 

Complete and total f**king joke.

 

We go into admin, and the FL make up rules to clobber us.

 

They cheat themselves to the brink of extinction,and everyone is bending over backwards to bend the rules for them.

 

Footballl is a corrupt stinking sh*thole of greed nowadays.

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Sour Mash

Sour Mash

Posted
Posted
Looks like FIFA may be waiving the registration rules then...

 

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

 

Frankly this makes a mockery of the entire competition. Why would any club now adhere to the transfer window rules ?

 

EDIT : Though to be fair there's a big leap between "FIFA looking favourably on a request to do something they are already allowed to do" and the assumption in the BBC article (as of now) that that will allow players to play for other teams in the Prem.

 

Grabbing the text before they update it :

Fifa could support Portsmouth request to sell players

 

The Fratton Park club survived a winding-up order last week

Fifa has indicated they will look favourably on Portsmouth's request to sell players outside of the transfer window, BBC Sport understands.

 

Pompey have debts of about £60m and are due in court on 1 March to contest a winding-up order by Her Majesty's Revenue and Customs.

 

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

 

It is likely any players sold would only be allowed to play in the Premier league, not any other competitions.

 

 

Sums up everything that is wrong in football. Short-termism rules. I still can't see this saving them, they won't be able to raise anywhere near the money they need for them to cover what they owe in my opinion.

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John Smith

John Smith

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Could someone explain to me how Portsmouth have not gone into administration and why liquidation is being staved off? Surely, if they went into administration, they could last to the end of the season and be deducted the mandatory points? Sure, they would be going down, but isn;t it proper for them to take administration rather than just drop into liquidation? Is this just a ploy by the board, a kind of sh*t or bust approach, in the hope that the PL save their sorry ars*s?

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Dibden Purlieu Saint

Dibden Purlieu Saint

Posted
Posted
Could someone explain to me how Portsmouth have not gone into administration and why liquidation is being staved off? Surely, if they went into administration, they could last to the end of the season and be deducted the mandatory points? Sure, they would be going down, but isn;t it proper for them to take administration rather than just drop into liquidation? Is this just a ploy by the board, a kind of sh*t or bust approach, in the hope that the PL save their sorry ars*s?

 

For admin to take effect Portsmouth have to be seen to be able to run, minus the debts, as a solvent club. They can't, so admin is not an option. Just sh!t or bust.

 

That's my understanding anyway.

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RinNY

RinNY

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Posted
For admin to take effect Portsmouth have to be seen to be able to run, minus the debts, as a solvent club. They can't, so admin is not an option. Just sh!t or bust.

 

That's my understanding anyway.

 

 

Wenger made a good point on SSN, that for the integrity of the PL, Pompey must finish out the season. It seems to me that, while the PL was correct to deny Pompey access to next season's parachute payments in advance, the solution ought to be for PFC to be forced into administration -- with Storrie, Gaydamak, Al Fahim, Al Farraj, Chainrai, Jacobs, and anyone else involved in running the club, out on their ears and whistling for their money -- and the PL should then provide the adminstrator with the necessary funds to see the club through to the end of the season, or until a buyer is found, from next season's parachute moneys.

 

PFC can then start next season as a CCC club with an appropriately small budget and a squad suited to the CCC, after selling players over the summer like any other relegated club.

 

Of course, that would actually require someone to step up and behave responsibly and courageously, so there's probably no chance of that happening.

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RinNY

RinNY

Posted
Posted
why allow the skates parachutes payments, we should start a campaign to the PL that the existing rules should be enforced, I cant imagine Wigan etc getting away with all this cheating and law breaking...

 

If they are obliged to go into administration first, taking the 9 point penalty and assuring relegation, and getting the sorry crew running PFC now out of there, then allowing an administrator access to the funds simply to pay the wage bill and basic running costs while he finds a buyer, would be reasonable, I think.

 

What isn't reasonable is for Pompey to be asking for this money as a way to stave off administration and relegation!

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oxfordshire_saint

oxfordshire_saint

Posted
Posted

The Premier League are absolutely $h!tting themselves and rightly so, but try as they might, I don't think they're going to be able to do anything about it.

 

If HMRC want to wind P*mpey up on the 1st then they will go right ahead and do it, the Premier League will have to deal with it.

 

All this giving them TV money early and looking to bend the transfer rules is plain barmy, as soon as they do it for them, they are encouraging any other clubs with cashflow problems to do the same. Anyhow, it'd only be a drop in the ocean for the Skates, maybe allow them to pay the wages for 1 more month or keep the website running until the end of the season.

 

Even as a Saints fan, it'll be a shame if they become extinct, but at the moment they bloody well deserve it and so do the Premier League.

 

We got no help, Leeds got no help, Bournemouth aren't getting any help and poor old Luton certainly didn't get any help. If Pompey's situation is so bad that nobody in their right mind would want to invest, then that's tough $h!t, calling for the inevitable to be delayed because of sentiment is pathetic, if HMRC let this sorry circus rumble on then more people will lose money, the people of Portsmouth are going to lose their club one way or another (or until AFC Pikey start up in the Wessex or whatever they're planning) so HMRC should get cracking and get it over and done with.

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The9

The9

Posted
Posted (edited)
Wenger made a good point on SSN, that for the integrity of the PL, Pompey must finish out the season.

 

No, he made an entirely self-interested point based on Arsenal's standing if the Skates drop out of the league.

 

For the integrity of the competition, fairness should be seen to be done, which means expelling teams who aren't financially solvent or attempt to cheat to win matches by playing players they don't own and have no intention of paying for... oh, and not making special cases where someone has massively screwed up by getting greedy, refusing to address the issues and then not paying the right bills in the right order as it all falls apart.

 

The whole transfer money thing is a PR stunt, the only issue is the registration, and if that goes through, forget about all integrity, they may as well bring in a rule granting different clubs different numbers of points for a win.

Edited by The9
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saint1977

saint1977

Posted
Posted
I just got his nagging feeling that they are going to come out of this without admin or liquidation - and that hisses me off big time, jammy hunts.

 

With that level of debt and no assets - no chance. They might get another fake buyer to last until the next Sky payment but they will be down by then and really, really insolvent. Admin is their best option and hope for a local consortium with a wealthy skate (contradiction in terms) that is willing to save them and clear some of the debt for their fishy friends. Trouble is, even then, Gadaymak wants his £30m for the land and they'll also be -10 or worse in the CCC.

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Toomer

Toomer

Posted
Posted
Wenger made a good point on SSN, that for the integrity of the PL, Pompey must finish out the season. It seems to me that, while the PL was correct to deny Pompey access to next season's parachute payments in advance, the solution ought to be for PFC to be forced into administration -- with Storrie, Gaydamak, Al Fahim, Al Farraj, Chainrai, Jacobs, and anyone else involved in running the club, out on their ears and whistling for their money -- and the PL should then provide the adminstrator with the necessary funds to see the club through to the end of the season, or until a buyer is found, from next season's parachute moneys.

 

PFC can then start next season as a CCC club with an appropriately small budget and a squad suited to the CCC, after selling players over the summer like any other relegated club.

 

Of course, that would actually require someone to step up and behave responsibly and courageously, so there's probably no chance of that happening.

Poopy always seem to end up with a chancer so as you say no chance of that happening.

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up and away

up and away

Posted
Posted
With that level of debt and no assets - no chance. They might get another fake buyer to last until the next Sky payment but they will be down by then and really, really insolvent. Admin is their best option and hope for a local consortium with a wealthy skate (contradiction in terms) that is willing to save them and clear some of the debt for their fishy friends. Trouble is, even then, Gadaymak wants his £30m for the land and they'll also be -10 or worse in the CCC.

 

I cannot see anyway that Portsmouth will not go into liquidation. Gaydamak has sliced up the company such there is nothing of attainable value without his agreement. That agreement will come at a price and if he really wanted to maximise, let them sink like a stone. It all depends how he ranks his love for the club above money? Someone needs to come in like Gold and Sullivan at West Ham, prepared to trash their investment and even then without full control over all aspects.

 

If anyone buys the club now, they are just about paying for the name only. They would also have to take on all the contract wage bill and only the ability to move on players many costly months down the road. At the end of this, what exactly will the owner be left with? Still a massive wage bill, further deductions because of the cva's. A crowd that will be way below even this season and virtually no infrastructure or assets to borrow against. The only bright spot would be the parachute payments, which I imagine would get ring fenced for any football related debts.

 

The immediate problem the administrator will have is to avoid matters becoming worse, then try and get an agreement from the creditors. There is no way the Premier League can help without opening themselves up to law suits such the Tevez affair pales in comparison. If Gaydamak wanted to help the situation I am sure he could, but he seems to have pressing problems elsewhere. I really cannot see what options the administrator will have or anyone daft enough with sufficient capital to be viable.

 

Just expect to see the cherrypips come out of the woodwork, leaving the administrator with an easy option of liquidation.

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lordswoodsaints

lordswoodsaints

Posted
Posted

A few years ago I had to put a high fence around an office block which was situated in the middle of a piece if land owned by somebody else,the people in the office were using the land to park their cars,the land owner offered to sell them the land but they refused so the land owner completly ringed the building with a fence preventing the office owners from getting access. This went on for a few weeks until the office owners gave in and bought the strip of land.

 

My questions are,does gaydamaks land completley encircle the fratton dump,and would/could he hold the skates to ransom by denying any access to the ground?

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SFKA South Woodford

SFKA South Woodford

Posted
Posted
Looks like they may be getting a 5TH owner of the season, or another false story, Guess we will find out by the end of the weekend

 

http://www.portsmouth.co.uk/frattonlatest/Consortium-close-to-Pompey-takeover.6087096.jp

 

How good would it be if this turns out to be someone from the Nigerian government who has £25 million pounds that he needs to stash into someone's account?, or someone whose family needs to move the monetry estate of a dead relative out of the country and just needs their bank details to transfer the cash to them. Would be so funny that their hope disappeared but also funny when the scammer finds out that he's wasted his time and effort as they don't have a pot to **** in.

 

I have a feeling though that fishy boys will come out of this unscathed as so many people/organisations are bending over to help them, it wouldn't even surprise me if they get away without a points deduction even if they are relegated and remain in administration when demotion is confirmed. Now that would royally p*ss me off!

 

They have misinformed and confidence tricked their way along for more than a year, now they deserve to be punished and I hope they are on March 1st.

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Toadhall Saint

Toadhall Saint

Posted
Posted
They won't go into admin, they are simply not a viable proposition.

No players, no fans, no assets bar the ground...

 

They will be wound up, I'm afraid.

 

So if they go into Monday and one of their creditors forces it they cannot go into admin? I thought it was an option but I suppose when your in admin the administrators are trying to sell a going concern - in this case I suppose its a concern going!

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Legod Third Coming

Legod Third Coming

Posted
Posted
They don't even own that anymore...

 

http://soccernet.espn.go.com/news/story?id=744356&sec=england&cc=5739

 

Nor do they have a training ground.

 

I think it could still be theirs because if they are found to have been trading insolvent (and I am no expert so forgive me!!) then I think it's not possible for a director to have made a claim over the ground based on security against a loan to the club...

 

But I could be wrong, I'm not sure even they know their finances...

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saintjay77

saintjay77

Posted
Posted
So if they go into Monday and one of their creditors forces it they cannot go into admin? I thought it was an option but I suppose when your in admin the administrators are trying to sell a going concern - in this case I suppose its a concern going!

 

I think the only thing creditors can do is add themselves to the winding up petition so that they are on the list of people that want something off the liquidators if it gets that far.

 

The courts can decide at the WU petition hearing that there is something to salvage and there is a chance of a buyer that can satisfy the correct percentage of the current debt and as such put the club into Admin. But with the debts so high and the assets so low and no chance to sell expensive players until the sumer and even less chance of getting enough money for them (who is going to pay above the odds for players of a team rooted to the bootom?) the chances of the courts actually opting for admin seem pretty slim.

 

Poopy's board could have and should have put them into admin a long time ago but instead they all stuck there head in the sand and ran debts up even further. I will be amazed if Storrie teller ever gets another job in football due to the way he has run poopy into the ground. Maybe he is a secret Saint?

 

Its got to the point now that I hope they do go bust and they are no more. Equally I hope the brothers and sisters of poopy put together a new club that are one day worthy of playing a local derby against us. Part of the fun of supporting the Saints is getting one over the blue few and if they are no more who will be our local rivals?

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Toadhall Saint

Toadhall Saint

Posted
Posted
I think the only thing creditors can do is add themselves to the winding up petition so that they are on the list of people that want something off the liquidators if it gets that far.

 

The courts can decide at the WU petition hearing that there is something to salvage and there is a chance of a buyer that can satisfy the correct percentage of the current debt and as such put the club into Admin. But with the debts so high and the assets so low and no chance to sell expensive players until the sumer and even less chance of getting enough money for them (who is going to pay above the odds for players of a team rooted to the bootom?) the chances of the courts actually opting for admin seem pretty slim.

 

Poopy's board could have and should have put them into admin a long time ago but instead they all stuck there head in the sand and ran debts up even further. I will be amazed if Storrie teller ever gets another job in football due to the way he has run poopy into the ground. Maybe he is a secret Saint?

 

Its got to the point now that I hope they do go bust and they are no more. Equally I hope the brothers and sisters of poopy put together a new club that are one day worthy of playing a local derby against us. Part of the fun of supporting the Saints is getting one over the blue few and if they are no more who will be our local rivals?

 

Thanks saintjay77

 

Agree with all that you say TBH. My concern is that the Prem are going to be their fairy godmother in some form or other - the richest league in the world with a club going insolvent is not good PR for the Prem.

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Toomer

Toomer

Posted
Posted
Pumpey are very close to going bust. I would think that the PL will sub them to carry on to the end of the season to fulfill fixtures and then they are closed at the end of the season

 

I heard the figure of £22m needed to keep then going till end of the season, not sure how true that is but where the hell is that going to come from if true.

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RinNY

RinNY

Posted
Posted
They don't even own that anymore...

 

http://soccernet.espn.go.com/news/story?id=744356&sec=england&cc=5739

 

Nor do they have a training ground.

 

 

I can't believe that Chainrai taking possession of the ground is being presented as him doing the club a favor by reducing the debt to him by 10 million (still leaving PFC owing him 7 million, be it noted). What he has obviously done is, seeing liquidation around the corner with likely loss of pretty much all of his money, moved to secure what he can while he can. Now, if/when PFC are liquidated, he'll claim "Fratton Park is mine, I just lease it to them" and try to walk away with the land; just as Gaydamak will be walking away with all the land around the ground.

 

What price the conspiracy theory suggesting that the whole PFC mess is a swindle to get hold of the land for redevelopment? It's actually starting to look plausible.

 

It's just unbelievable how the Pl and the FA have just sat quiet on the sidelines watching this unfolding. Obviously the PFC mess discredits the entire structure the PL/FA have in place for assuring only "fit and proper" persons run football clubs, and that clubs are run in a fiscally proper manner.

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alpine_saint

alpine_saint

Posted
Posted
I can't believe that Chainrai taking possession of the ground is being presented as him doing the club a favor by reducing the debt to him by 10 million (still leaving PFC owing him 7 million, be it noted). What he has obviously done is, seeing liquidation around the corner with likely loss of pretty much all of his money, moved to secure what he can while he can. Now, if/when PFC are liquidated, he'll claim "Fratton Park is mine, I just lease it to them" and try to walk away with the land; just as Gaydamak will be walking away with all the land around the ground.

 

What price the conspiracy theory suggesting that the whole PFC mess is a swindle to get hold of the land for redevelopment? It's actually starting to look plausible.

 

It's just unbelievable how the Pl and the FA have just sat quiet on the sidelines watching this unfolding. Obviously the PFC mess discredits the entire structure the PL/FA have in place for assuring only "fit and proper" persons run football clubs, and that clubs are run in a fiscally proper manner.

 

Who cares ?

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