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

[Window Cleaner]

I dont actually think they like each other because Chainrai fell out with gaylords dad or somit. I doubt Chainrai will leave anything if he can help it.

 

Honour amongst thieves and all that sort of thing.

Both will come out of it with more than they put in...be assured of it.

You are comparing the situation with ours where bumbling fools got stripped of their minor investments, these are top class operators in the field of making something from nothing.Nottarf no longer belongs to PFC and all the land around it belongs to Gaydamak.

[hackedoff]

Does anyone know at what angle the deck needs to rise to, in order for the rodent crew to slip off unaided ?

[Window Cleaner]

Does anyone know at what angle the deck needs to rise to, in order for the rodent crew to slip off unaided ?

 

119 degrees and 34 radians

[simondo]

can anyone itk answer my question?

i thought i heard on here that if you had a winding up order against you, then you could go into admin as you were not a going concern? is that correct?

[saintjay77]

can anyone itk answer my question?

i thought i heard on here that if you had a winding up order against you, then you could Not?go into admin as you were not a going concern? is that correct?

 

I guess you mean could Not?

 

And I dont think any of us really do know the answer but the possibles are:

 

As the WUO is in place then the only people that can put the club into admin are the courts via the WU hearing or the Creditors but I thought they had to do that by request to the courts.

 

Chainrai has shuffeled his deck of cards and as such has become a creditor so he somehow now seems to have the option of putting them into admin while the taxman and the courts can get stuffed. It seems they at least believe that announcing Friday as the deadline for sale or admin the WUP is now suspended and nothing to worry about.

 

I half expect the taxman or someone to speak up tomorrow and suggest that as Chainrai was the owner and not a creditor as such when the WUP was 1st heard in court and because of this his shuffling of assets is not acceptable and the other people attached to the WUP should have the right to follow it through.

 

As for what will actually happen is anyones guess but its looking right now that the cheating scum bags will go into admin and carry on regardless and even get a helping hand from the prem by letting them flog a few players to keep the administrator busy.

[saintjay77]

Honour amongst thieves and all that sort of thing.

Both will come out of it with more than they put in...be assured of it.

You are comparing the situation with ours where bumbling fools got stripped of their minor investments, these are top class operators in the field of making something from nothing.Nottarf no longer belongs to PFC and all the land around it belongs to Gaydamak.

 

Oh im sure when it comes to business they will do what ever suits them. But I thought Chainrai wasnt going to get involved (or could be the other way round) when he found out the other could be involved so it seems they will look out for themselves and not give a toss about the other.

[simondo]

yep sorry i meant not go into admin while under a WUO

[Saints Warrior]

Banners for Saturdays game if the Skates in Admin on Friday....

 

"Tax Man 1 Skates 0"

[Junior Mullet]

A few points:

 

1. Pompey will need 75% of creditors by value to agree to any arrangement to exit administration. I don't know what their total creditors are worth but I wonder whether HMRC will have the 25% needed to effectively block such an arrangement?? I don't think HMRC will be happy to kkep taking pence in the pound from football clubs in admin and they might just want to make an example of the skates. If no arrangement is agreed they would probably be wound up in the absence of a buyer willing to pay all creditors in full.

 

2. Looks like Chanrai will pay the administrators costs rather than the club itself. I wonder how long that will last, especially when potential investors see just how unviable Pompey are.

 

3. The Skates have to exit admin by the second Sat of May otherwise they face the potential of not being allowed to join the CCC. In reality they are likely to be allowed membership to the CCC in return for a points deduction. It really is a greay area how the points deduction this year under PL rules will work with the FL rules re insolvency.

 

4. I just wonder what the Administrator will uncover in terms of the dodgy dealing it is speculated has taken place. I'm sure the forensics will have a field day going through all the off shore accounts etc. Financial irregularity could lead to massive points deductions, as per Luton.

 

5. I understand that Barclays will have final say over who is appointed as administrator. I think this is very important, especially in light of point 4 above.

 

6. Unless Chanrai is prepared to pay administrator's fees and the clubs running costs until they find a buyer I can see the administrator really hacking the club up and leaving it with nothing but the bare fish bones.

 

7. We are in for months of fun and games at the expense of our fishy friends.

[bluejob]

A few points:

 

1. Pompey will need 75% of creditors by value to agree to any arrangement to exit administration. I don't know what their total creditors are worth but I wonder whether HMRC will have the 25% needed to effectively block such an arrangement?? I don't think HMRC will be happy to kkep taking pence in the pound from football clubs in admin and they might just want to make an example of the skates. If no arrangement is agreed they would probably be wound up in the absence of a buyer willing to pay all creditors in full.

 

2. Looks like Chanrai will pay the administrators costs rather than the club itself. I wonder how long that will last, especially when potential investors see just how unviable Pompey are.

 

3. The Skates have to exit admin by the second Sat of May otherwise they face the potential of not being allowed to join the CCC. In reality they are likely to be allowed membership to the CCC in return for a points deduction. It really is a greay area how the points deduction this year under PL rules will work with the FL rules re insolvency.

 

4. I just wonder what the Administrator will uncover in terms of the dodgy dealing it is speculated has taken place. I'm sure the forensics will have a field day going through all the off shore accounts etc. Financial irregularity could lead to massive points deductions, as per Luton.

 

5. I understand that Barclays will have final say over who is appointed as administrator. I think this is very important, especially in light of point 4 above.

 

6. Unless Chanrai is prepared to pay administrator's fees and the clubs running costs until they find a buyer I can see the administrator really hacking the club up and leaving it with nothing but the bare fish bones.

 

7. We are in for months of fun and games at the expense of our fishy friends.

 

 

 

Quite a good post.....for a junior mullet.

[Hyde and Seek]

I hear that Pompey are to be taken over by the 3 Rs. Relly Gation, Roger Andout and Rupert XXXX.

[St.Patrik]

Sound like its done now - http://www.thesun.co.uk/sol/homepage/sport/football/2866045/Pompey-to-confirm-drop.html

[Alan56]

When can we expect some news now they have presented their current financial situation?

 

Surely there is no chance they can pay off their current debts...never mind the ones for the rest of the season!

 

I actually sent an e-mail to the HMRC yesterday demanding they be wound up - as they have had an unfair advantage over other teams in The Premiership and FA Cup!

 

Still awaiting a response!!!

 

Well you won't get one form HMRC. A court will decide that!! HMRC have only applied for the winding up order!!

[The9]

Was Palace's WUP due to take place on the 27th and they went into Admin before though?

 

I mean Poopy got given the WUP and went to the court date. It was only adjourned so they could get the accounts report and so Storrie Teller could magic up a new owner.

 

Basically I thought the WUP was already in progress with Poopy and as such they missed there chance. All creditors could add there names to the petition which others including Sol have already done.

 

Just with the sheer complexitys of this mess I would guess Poopy will get an extra month or so. But if they manage to go into Admin I cant see how it will help them in the long run.

 

Also stating that you will go into admin by the end of the week is just announcing to any mug willing to throw money at them that if they wait a week they wont have to throw as much.

 

madness.

 

If you're under a WUP the only way you can go into Admin is via a creditor. Chainrai is a creditor. Aquila was a Palace creditor.

 

To be fair SaintJay77 has covered most of the rest - as for the additional points deduction, HMRC has voted against ALL CVAs as a matter of policy since they lost preferential creditor status via an Act of Parliament (circa 2005) and as they're the ones who raised the WUP, I seriously doubt they'll agree to ANYTHING the Skates put before them in terms of payoff.

 

So they can look forward to a nice -10 from the FL if they're still in Admin in July(ish), and if the books are as dodgy as they seem to be, they'll probably get -15 for irregularities and/or coming out of admin without a CVA.

 

Even if they manage to find a buyer, they might actually be on -25 in the CCC next season, which would be funny for a team with no Prem players left on their books (by then), plus they wouldn't own the ground or any of the surrounding land.

[Wes Tender]

A few points:

 

1. Pompey will need 75% of creditors by value to agree to any arrangement to exit administration. I don't know what their total creditors are worth but I wonder whether HMRC will have the 25% needed to effectively block such an arrangement?? I don't think HMRC will be happy to kkep taking pence in the pound from football clubs in admin and they might just want to make an example of the skates. If no arrangement is agreed they would probably be wound up in the absence of a buyer willing to pay all creditors in full.

 

2. Looks like Chanrai will pay the administrators costs rather than the club itself. I wonder how long that will last, especially when potential investors see just how unviable Pompey are.

 

3. The Skates have to exit admin by the second Sat of May otherwise they face the potential of not being allowed to join the CCC. In reality they are likely to be allowed membership to the CCC in return for a points deduction. It really is a greay area how the points deduction this year under PL rules will work with the FL rules re insolvency.

 

4. I just wonder what the Administrator will uncover in terms of the dodgy dealing it is speculated has taken place. I'm sure the forensics will have a field day going through all the off shore accounts etc. Financial irregularity could lead to massive points deductions, as per Luton.

 

5. I understand that Barclays will have final say over who is appointed as administrator. I think this is very important, especially in light of point 4 above.

 

6. Unless Chanrai is prepared to pay administrator's fees and the clubs running costs until they find a buyer I can see the administrator really hacking the club up and leaving it with nothing but the bare fish bones.

 

7. We are in for months of fun and games at the expense of our fishy friends.

 

I wonder whether there will be repercussions concerning the situation on whether Chainrai can apply for administration or not. It seems a moot point to me, as he is obviously a creditor, but surely his status as owner precludes him from applying for administration?

 

I also feel doubtful as to whether the winding-up order would be suspended as he says. Again, I wonder whether the only way that could happen was if the debt to those who brought the winding-up order was settled in full and if not, then the club would be deemed to be insolvent. I'm not expert in these things, but it would seem strange if the winding-up order could be overcome in such an easy fashion. Furthermore, club assets such as the ground have been shifted into Chainrai's ownership whilst the winding order was in place. Is that entirely Kosher?

 

But even if they do manage to slip through this net, I look forward like you to months of entertainment when the administrator starts to delve into the can of worms that includes dodgy dealings of former owners and managers, the two fake sheiks and other inpecunious charlatans that have been associated with them these past few years.

[saintjay77]

If you're under a WUP the only way you can go into Admin is via a creditor. Chainrai is a creditor. Aquila was a Palace creditor.

 

To be fair SaintJay77 has covered most of the rest - as for the additional points deduction, HMRC has voted against ALL CVAs as a matter of policy since they lost preferential creditor status via an Act of Parliament (circa 2005) and as they're the ones who raised the WUP, I seriously doubt they'll agree to ANYTHING the Skates put before them in terms of payoff.

 

So they can look forward to a nice -10 from the FL if they're still in Admin in July(ish), and if the books are as dodgy as they seem to be, they'll probably get -15 for irregularities and/or coming out of admin without a CVA.

 

Even if they manage to find a buyer, they might actually be on -25 in the CCC next season, which would be funny for a team with no Prem players left on their books (by then), plus they wouldn't own the ground or any of the surrounding land.

 

Like Wes has said above, I wonder if Chainrai's move to become a creditor whilst the WUO was already in full swing is entirly legit?

 

Palace's owner was already a creditor when the WUP was served and he moved to put them into admin before the deadline day.

 

Does it make a difference that Chainrai was not a creditor when there 1st date in court happened?

 

It just seems liek a loop hole that is too simple to be there. If I were to own a business and get myself in the crap and be faced with a WUO it seems all I would have to do is sell myself part of the business or an asset from the business, fail to pay myself and that puts me as a creditor that can put my business into admin before it gets liquidated.

 

I know that is incredibally simplistic but it seems thats what has been done down the road and with no word from the courts it seems like its OK to do?

[Daren W]

If you're under a WUP the only way you can go into Admin is via a creditor. Chainrai is a creditor. Aquila was a Palace creditor.

 

To be fair SaintJay77 has covered most of the rest - as for the additional points deduction, HMRC has voted against ALL CVAs as a matter of policy since they lost preferential creditor status via an Act of Parliament (circa 2005) and as they're the ones who raised the WUP, I seriously doubt they'll agree to ANYTHING the Skates put before them in terms of payoff.

 

So they can look forward to a nice -10 from the FL if they're still in Admin in July(ish), and if the books are as dodgy as they seem to be, they'll probably get -15 for irregularities and/or coming out of admin without a CVA.

 

Even if they manage to find a buyer, they might actually be on -25 in the CCC next season, which would be funny for a team with no Prem players left on their books (by then), plus they wouldn't own the ground or any of the surrounding land.

 

So what you're effectively saying is that admin merely delays the inevitable...

 

"We'll meet again, don't know where, don't know when...

But I know we'll meet again some sunny day.....

Keep lying through,

Just like you always do

Till the red stripes drive the blue ****s far away

 

So will you please say "Hello"

To the skates that I know

Tell them it won't be long

They'll be unhappy to know

That as I saw you go I was singing this song..."

[Foxstone]

So what you're effectively saying is that admin merely delays the inevitable...

 

"We'll meet again, don't know where, don't know when...

But I know we'll meet again some sunny day.....

Keep lying through,

Just like you always do

Till the red stripes drive the blue ****s far away

 

So will you please say "Hello"

To the skates that I know

Tell them it won't be long

They'll be unhappy to know

That as I saw you go I was singing this song..."

 

Cloth now needed to wipe tea from keyboard

[Ken Tone]

119 degrees and 34 radians

 

Tut, tut.

 

Suspect you mean 119 degress and 34 minutes?

 

34 radians is more than 5 full circles, approx 1948 degrees.

 

It's important we keep up the standards of intellectual superiority over the blue few ;-)

 

K.

[slickmick]

 

I know that is incredibally simplistic but it seems thats what has been done down the road and with no word from the courts it seems like its OK to do?

 

 

My guess is the courts and HMRC will wait until Skates make that step before acting.

[Window Cleaner]

Tut, tut.

 

Suspect you mean 119 degress and 34 minutes?

 

34 radians is more than 5 full circles, approx 1948 degrees.

 

It's important we keep up the standards of intellectual superiority over the blue few ;-)

 

K.

 

yes planar geometry was never my strong point. Good job I'm a physicist then;)

[Junior Mullet]

 

To be fair SaintJay77 has covered most of the rest - as for the additional points deduction, HMRC has voted against ALL CVAs as a matter of policy since they lost preferential creditor status via an Act of Parliament (circa 2005) and as they're the ones who raised the WUP, I seriously doubt they'll agree to ANYTHING the Skates put before them in terms of payoff.

 

 

That's not true. I know for a first hand fact that HMRC recently took substantially less than 100% as part of an arrangement to exit admin. They did however insist on having parity with the football creditors, which was a firming of their previous stance. This was a smallish club however and I have a sneaky feeling that HMRC may want to make an example of Poopey to prevent this sort of thing happening in future. HMRC are unlikely to be prepared to keep accepting 20p odd in the pound and might feel the need to take a stand. What's more, I suspect HMRC will be annoyed at Poopey's conduct throughout this whole debacle.

 

HMRC might just be prepared to take nothing this time in return for making the ultimate example of them.

[Wes Tender]

A further fly in the ointment for me, is that Chainrai has spoken to the FA and they inform him that further monies are due to the Skates because of television revenues before the end of the season and also that there would be another £32 million total of parachute payments for the next two seasons. TV revenues, fair enough, but I don't see why they should be entitled to the parachute payments unless they are ring-fenced towards payment of footballing debts. Personally, I don't see why they should be paid anyway, as the relegation and administration are as a direct result of the incompetance of the club's management.

 

And the prize for the most outrageous bullsh*t of the year so far, goes to Chainrai's spokesman Phil Hall, for these comments in the Guardian:-

 

The club may potentially be allowed by the Premier League to sell players while in administration, outside the transfer window. "Administration would mean the club re-emerging as a healthy financial entity," Hall said. "The club would then become an attractive proposition for a potential buyer who could invest new funds in rebuilding the club's future.

 

"We would like to ask the fans, the staff and management of Portsmouth Football Club for their support and patience should this step be taken, as they believe it is the only route left open to them. The serving of this notice means the winding-up order is automatically suspended. It means the club is safe, it can fulfil its fixtures and as far as is possible, it is business as usual."

 

Accepted that he must put the best possible spin on it all, but to recap on the Skates situation following administration:-

 

The nine points deduction will consign them to the Fizzy Pop division next season.

 

A further 20 point deduction is possibly awaiting them when they get there.

 

Any players of any quality will have left and it will be difficult to attract replacements, as their financial predicament will still remain precarious.

 

Presumably, Grant will be off too, unless the attractions of the Southampton massage parlours prove too strong.

 

They do not own their ground and will have to fork out quite a bit in rent, provided that the transfer of the ground as an asset is found to be legal whilst the club was the subject of a winding-up order.

 

Attendances will undoubtedly fall drastically when they are no longer a Premiership team and all the plastics will depart once they are playing the equivalent teams to S****horpe, Peterborough and Plymouth rather than ManUre, Liverpool, Chelski and the Arse.

 

So anybody stupid enough to invest in the basket case that is Portsmouth Football Club, will accept that they will almost certainly be in League 1 the year after next, (if they do not go into liquidation) and that they will have ever decreasing attendances in a crappy stadium they don't own, with a team of youngsters and has beens.

 

A really healthy financial entity and an attractie propostion for an investor, eh, Mr Hall?

[Ken Tone]

A good question and answer page on the pompey paper's web-site if anyone wants clarity from an objective third party. Answers from the firm that were our adminstrators

 

http://www.portsmouth.co.uk/pompeyinvestigation/Questions-and-Answers-on-administration.6098944.jp

 

K.

[Toadhall Saint]

A good question and answer page on the pompey paper's web-site if anyone wants clarity from an objective third party. Answers from the firm that were our adminstrators

 

http://www.portsmouth.co.uk/pompeyinvestigation/Questions-and-Answers-on-administration.6098944.jp

 

K.

 

Love this Q&A bit

 

"Q: What is the administrator there to do?

 

A: The administrator is responsible to all the business's creditors. It must realise the company's assets, in order to get as much as possible to pay them."

 

There are none. So should be an easy job!

[Saint Fan CaM]

A good question and answer page on the pompey paper's web-site if anyone wants clarity from an objective third party. Answers from the firm that were our adminstrators

 

http://www.portsmouth.co.uk/pompeyinvestigation/Questions-and-Answers-on-administration.6098944.jp

 

K.

 

 

That's pretty hilarious reading. Especially the idiots posting on the forum saying they still want Storyteller to stick around! At least Rupert had the common decency to walk away with his tail between his legs.

[OldNick]

Begbies traynor expert on the Pompey News

Does this mean they will break the club up and sell it off?

 

A: No. The administrator's main role is to try to find a buyer, who can repay the club's debts.

The debts are ring-fenced, which means it's not the administrator's role to pay them.

They will be paid from money the company is paid, such as for transfers or money from the Premier League, and the cash from its sale.

The administrator must get the best possible value for the club, and that means maintaining its assets. Portsmouth's greatest asset is as a football club with a place in a league. Its sale on that basis will be much more profitable than breaking it up and selling it piecemeal.

 

 

Well when Begbies Traynor were dealing with us, I cant recall them saying that then.

[Ken Tone]

Begbies traynor expert on the Pompey News

Does this mean they will break the club up and sell it off?

 

A: No. The administrator's main role is to try to find a buyer, who can repay the club's debts.

The debts are ring-fenced, which means it's not the administrator's role to pay them.

They will be paid from money the company is paid, such as for transfers or money from the Premier League, and the cash from its sale.

The administrator must get the best possible value for the club, and that means maintaining its assets. Portsmouth's greatest asset is as a football club with a place in a league. Its sale on that basis will be much more profitable than breaking it up and selling it piecemeal.

 

 

Well when Begbies Traynor were dealing with us, I cant recall them saying that then.

 

Yes but I think she in her mind is answering the question, "will the administrator break the club up completely, close it and and sell off the goal posts, training kit etc, not "will s/he sell off all your best players? ", which of course the administrator will do. The admooistrator won't break the club up completely except as a last resort if/when they can't find a buyer for a club as a whole.

 

Btw I see Storrie is now offering to stay on, with a pay cut! Says his reported £1.4 million salary is only about half that in 'basic' wage ..the rest came in bonuses for selling players!

 

The mind just boggles. How much more does he want to bleed from that club?

 

K.

[RinNY]

I guess you mean could Not?

 

And I dont think any of us really do know the answer but the possibles are:

 

As the WUO is in place then the only people that can put the club into admin are the courts via the WU hearing or the Creditors but I thought they had to do that by request to the courts.

 

Chainrai has shuffeled his deck of cards and as such has become a creditor so he somehow now seems to have the option of putting them into admin while the taxman and the courts can get stuffed. It seems they at least believe that announcing Friday as the deadline for sale or admin the WUP is now suspended and nothing to worry about.

 

I half expect the taxman or someone to speak up tomorrow and suggest that as Chainrai was the owner and not a creditor as such when the WUP was 1st heard in court and because of this his shuffling of assets is not acceptable and the other people attached to the WUP should have the right to follow it through.

 

As for what will actually happen is anyones guess but its looking right now that the cheating scum bags will go into admin and carry on regardless and even get a helping hand from the prem by letting them flog a few players to keep the administrator busy.

 

Chainrai has been a creditor all along: he lent PFC 17 million during the Al Farraj regime to cover various costs, loan secured against FP and against Farraj's 90% share in PFC. He only took control by seizing Farraj's shares when he wasn't getting his loan repayments. That made him both creditor and putative owner. How his exact position, including his transfer of ownership of FP to himself in settlement of part of the debt owed him, will be viewed in any administration/liquidation process will probably be for the courts to determine. But he has certainly been a creditor since at least last November.

[Saint Fan CaM]

It's got to be said that I was mildly sympathetic to the blue few until that rubbish headline on their OS lied about their performance against us in the cup game. Now I am just loving every last turn of the screw. May their suffering last until they drop into L1 or beyond.

[saintjay77]

Chainrai has been a creditor all along: he lent PFC 17 million during the Al Farraj regime to cover various costs, loan secured against FP and against Farraj's 90% share in PFC. He only took control by seizing Farraj's shares when he wasn't getting his loan repayments. That made him both creditor and putative owner. How his exact position, including his transfer of ownership of FP to himself in settlement of part of the debt owed him, will be viewed in any administration/liquidation process will probably be for the courts to determine. But he has certainly been a creditor since at least last November.

 

I thought his loan to Al Mirage was secured against the 90% shareholding and when the repayments lapsed he took the 90%.

 

He since then wrote off 10 mil in exchange for FP and as that is a seperate entity to the football club he then became a creditor. Before then he was just a 90% shareholder for the football club and not a creditor.

 

Thats only what I thought however which is just based on what I read here and there. The actual business decissions that get or got them into there state I would have thought would have been all above board so Admin wont be contested. But looking at it from our point of view its still hard to understand how they can royally shaft anyone and everyone and still manage to wriggle out of it.

[Billyboy]

This is interesting

 

http://www.bbc.co.uk/blogs/mattslater/2010/02/portsmouth_fc_in_crisis_qa.html

[hackedoff]

a further fly in the ointment for me, is that chainrai has spoken to the fa and they inform him that further monies are due to the skates because of television revenues before the end of the season and also that there would be another £32 million total of parachute payments for the next two seasons. Tv revenues, fair enough, but i don't see why they should be entitled to the parachute payments unless they are ring-fenced towards payment of footballing debts. Personally, i don't see why they should be paid anyway, as the relegation and administration are as a direct result of the incompetance of the club's management.

 

And the prize for the most outrageous bullsh*t of the year so far, goes to chainrai's spokesman phil hall, for these comments in the guardian:-

 

the club may potentially be allowed by the premier league to sell players while in administration, outside the transfer window. "administration would mean the club re-emerging as a healthy financial entity," hall said. "the club would then become an attractive proposition for a potential buyer who could invest new funds in rebuilding the club's future.

 

"we would like to ask the fans, the staff and management of portsmouth football club for their support and patience should this step be taken, as they believe it is the only route left open to them. The serving of this notice means the winding-up order is automatically suspended. It means the club is safe, it can fulfil its fixtures and as far as is possible, it is business as usual."

 

accepted that he must put the best possible spin on it all, but to recap on the skates situation following administration:-

 

the nine points deduction will consign them to the fizzy pop division next season.

 

A further 20 point deduction is possibly awaiting them when they get there.

 

Any players of any quality will have left and it will be difficult to attract replacements, as their financial predicament will still remain precarious.

 

Presumably, grant will be off too, unless the attractions of the southampton massage parlours prove too strong.

 

They do not own their ground and will have to fork out quite a bit in rent, provided that the transfer of the ground as an asset is found to be legal whilst the club was the subject of a winding-up order.

 

Attendances will undoubtedly fall drastically when they are no longer a premiership team and all the plastics will depart once they are playing the equivalent teams to s****horpe, peterborough and plymouth rather than manure, liverpool, chelski and the arse.

 

So anybody stupid enough to invest in the basket case that is portsmouth football club, will accept that they will almost certainly be in league 1 the year after next, (if they do not go into liquidation) and that they will have ever decreasing attendances in a crappy stadium they don't own, with a team of youngsters and has beens.

 

A really healthy financial entity and an attractie propostion for an investor, eh, mr hall?

 

sweet

[Saints Warrior]

I cant see Skates getting more than 22 points if 9 taken away, so that should mean the 9 points cayy over to cccc. Or will it be 10 + 9, 15 + 9, or 20 + 9??

 

How come Luton got loads, was it due to fiddling the books? Could skates get -20 ?

 

The Skates at work are so quite I have to hunt them down to take the ****

[Dark Munster]

That's pretty hilarious reading. Especially the idiots posting on the forum saying they still want Storyteller to stick around! At least Rupert had the common decency to walk away with his tail between his legs.

Actually, he begged to stay on, but Mark Fry told him to get lost.

Then he walked away with his tail between his legs.

[Wes Tender]

sweet

 

How come when you quoted me, it put virtually everything into lower case? ??:

[Toomer]

Actually, he begged to stay on, but Mark Fry told him to get lost.

Then he walked away with his tail between his legs.

 

And his Train tucked under his arm:)

[SaintRichmond]

So what you're effectively saying is that admin merely delays the inevitable...

 

"We'll meet again, don't know where, don't know when...

But I know we'll meet again some sunny day.....

Keep lying through,

Just like you always do

Till the red stripes drive the blue ****s far away

 

So will you please say "Hello"

To the skates that I know

Tell them it won't be long

They'll be unhappy to know

That as I saw you go I was singing this song..."

 

 

Brilliant !!!!!!!!!!!!!!!

 

Taken from "The Skate Book of Fish Anthems" ...... "Whale Meat Again"

 

 

(With due reverance to Dame Vera Lynn of course )

[sidthesquid]

I wish all you boys on this thread and those like it would come over to the mega Pompey takeover saga in the lounge. Seven pages of good debate wasted here.

[bender]

Which goal?

 

Take your pick - last minute equalizers for Boro, Everton, Arsenal (at Highbury) etc etc

[benjii]

Begbies traynor expert on the Pompey News

Does this mean they will break the club up and sell it off?

 

A: No. The administrator's main role is to try to find a buyer, who can repay the club's debts.

The debts are ring-fenced, which means it's not the administrator's role to pay them.

They will be paid from money the company is paid, such as for transfers or money from the Premier League, and the cash from its sale.

The administrator must get the best possible value for the club, and that means maintaining its assets. Portsmouth's greatest asset is as a football club with a place in a league. Its sale on that basis will be much more profitable than breaking it up and selling it piecemeal.

 

 

Well when Begbies Traynor were dealing with us, I cant recall them saying that then.

 

Er, I think that's almost exactly what Fry said. Remember, when he was doing interviews about how important it was that the club survived and everyone was saying what a top bloke he was?

 

If I remember correctly, someone even suggested he was as much of a legend as MLT....

[VectisSaint]

That's pretty hilarious reading. Especially the idiots posting on the forum saying they still want Storyteller to stick around! At least Rupert had the common decency to walk away with his tail between his legs.

Common and decency, never thought I would see those 2 words in the same sentence as Rupert Lowe.

[Junior Mullet]

I wish all you boys on this thread and those like it would come over to the mega Pompey takeover saga in the lounge. Seven pages of good debate wasted here.

 

I tried but it's more sensible and controlled here - that thread is a complete mess!!! BTW have they got the record for longest thread yet? Seems that's what they're most interested in. The few good posts are hidden amongst all the trash.

[Saint Fan CaM]

Common and decency, never thought I would see those 2 words in the same sentence as Rupert Lowe.

 

 

You're not wrong. However, can you imagine the outcry had Lowe tried to stay on in the same manner Storyteller is trying to eek out his time/salary at Skatesville? I think his personal safety might have been at risk, so he made the right decision to slink away. Storyteller on the other hand doesn't seem to care how much he bleeds from the dead carcuss.

[kenneth_kenobi]

There is talk of P*mpey losing 9 points now - surely that does not happen until end of season - then IF they are relagated they start on -9 next season in CCC - and if by some miracle they do avoid it, they then lose 9 to get relegated. If they lose them now, why did we not lose our points in the CCC rather than L1?

[alpine_saint]

There is talk of P*mpey losing 9 points now - surely that does not happen until end of season - then IF they are relagated they start on -9 next season in CCC - and if by some miracle they do avoid it, they then lose 9 to get relegated. If they lose them now, why did we not lose our points in the CCC rather than L1?

 

Could be because the PL has different rules from the FL.

[madsent]

I cant see Skates getting more than 22 points if 9 taken away, so that should mean the 9 points cayy over to cccc. Or will it be 10 + 9, 15 + 9, or 20 + 9??

 

How come Luton got loads, was it due to fiddling the books? Could skates get -20 ?

 

The Skates at work are so quite I have to hunt them down to take the ****

 

There is talk of P*mpey losing 9 points now - surely that does not happen until end of season - then IF they are relegated they start on -9 next season in CCC - and if by some miracle they do avoid it, they then lose 9 to get relegated. If they lose them now, why did we not lose our points in the CCC rather than L1?

 

Come on you two, you must remember that we went into administration after the cut-off date. Before that date, the points are deducted that season. After that date, the points are deducted the next season if the team is relegated without the points deduction. It's a moot argument anyway because, AFAIK, there is no corresponding cut-off point in the Premier League. For those wondering, the 9 point penalty is basically pro-rated from the 10 points in the Football League since they play less games.

 

Luton got loads because their new owners told the FL of irregularities in payments to agents and players made by the previous owners.

[The9]

The long and short of it is that the Prem hasn't had a club in admin before (they haven't yet, as of 08:49am) so they don't have a load of loophole-closing regulations like the Football League have because teams like Boston United started doing things like going into Admin at half time of their last match of the season when they were clearly going to be relegated anyway.

 

So the -9 will apply now. And there will be a -10 in the CCC next season if they're not in and out of admin before they take their place in the Football League.

 

There's some great stuff in here: http://www.bbc.co.uk/blogs/mattslater/2010/02/portsmouth_fc_in_crisis_qa.html

 

Sample quote :

 

Q: So this is all the taxman's fault?

 

A: Erm, well, only if you think paying VAT, PAYE and National Insurance is optional.

 

[The9]

Luton got loads because their new owners told the FL of irregularities in payments to agents and players made by the previous owners.

 

http://www.timesonline.co.uk/tol/sport/football/football_league/article4340138.ece

 

Luton's punishment was

-20 for failing to exit admin correctly (as it was a second offence)

-10 for the illegal agent payments

 

In addition to the deductions I mentioned above...

 

...possibly an additional -15 for failing to get a CVA and maybe even more for any irregularities found (bearing in mind they have ex and current employees on bail for tax evasion and they are also under investigation for transfers).

[Saint Fan CaM]

http://www.skysports.com/story/0,19528,11661_5982179,00.html

 

LOL. And now TWO - yes two - of their players are offering to take pay cuts. Would that be Utaka by any chance? Or perhaps it's one of the youth team? LOL!:smt036