[Archived] Time Up Pompey?

[patrickvalery]

The Premier League are not SAVING them. They are advancing them money they are due down the line. This way they get through the season and then toddle off.

It's a better solution that seeing them go bust on Monday, all of the points get wiped, games get cancelled, season tickets refunded and we have nine games every weekend instead of ten.

Pompey don't GAIN from this, nobody else loses...it just makes the problem go away until the summer. They get penalised points, they go down.

It's a fair plan.

But they do gain from it. They stay in existence.

If they get deducted points next year then i could just about accept this idea. But if they avoid that then it would be criminal. It seems to me we hear about players being expected to play 'fair' in regards to diving etc... But there are huge double standards from the very people running the league.

I see the sense in what your saying Nicko. But it leaves a nasty taste in the mouth.

[LeChuck]

I see the sense in what your saying Nicko. But it leaves a nasty taste in the mouth.

I was trying to figure out why you had so much anger about the PL trying to save a club who thousands of fans will care about (just like our own)...

...then I saw your location.

[Iceman]

I was trying to figure out why you had so much anger about the PL trying to save a club who thousands of fans will care about (just like our own)...

...then I saw your location.

So much anger and you are right, Makes sense

[1864roverite]

There is some valid points coming out Nicko. Is it right that should Pompy default once more on the wages payment ie being laate again, that all the players can walk on free transfers/contracts cancelled ? How does Pompy FC stand on that one and more importantly how do the players stand and any other potential re-employment for other clubs THIS current season seeing as we are outside of the transfer window ?

To take administration whilst at the same time losing potential sales assets courtesy of free transfers/contract issues seems a no brainer if it is right.

[Brfcrule1]

Nicko can you clear up a few points for me please:

1.) When Pompey go into administration on Friday they get deducted 9 points then the administrator has to obviously sell off assets to pay the creditors what will the position with transfers will they be allowed to sell off players outside of the transfer window?

2.) With regards to HMRC & the VAT bill is that the most important and needs to be paid straight away? or are there other people who would get priority?

3.) I read somewhere they said unless there is a takeover by Friday the players would receive their wages late does that mean if they fail most likely they will be in breach of their contracts and the players they fully own will be able to leave for free?

4.) on the subject of their loan transfers going back for instance Lens have repeatedly said they have budgeted their wage bill to NOT include Dindane on their wages would Lens be allowed to either sell Dindane on or loan him onto another club I presume as well as as transfer fees their wage bill has to come down does that mean players on massive wages will be sold to pay off their debts I take it also the loan market is still open would that be a more preferable way to sort out this whole mess? I would also imagine Piquionne will also be in the same position as Dindane would he also be loaned out to save that way

5.) If the prem. league decide they are allowed to sell/loan out players to save dosh will English clubs like ourselves be allowed to enter into it and say make a bid for Dindane or Piquionne? who I believe we were after both as targets in the summer the major question if they are allowed to deal now to allow them to stay afloat what do the prem. lge. make of how this has come about and what is being said about the transfer window if a club can trade players outside of the official window? Might there be a change in the rules in future?

thanks sorry to go for long these points I have been wondering since administration was being considered.

thanks and really appreciate your info on this

[patrickvalery]

I was trying to figure out why you had so much anger about the PL trying to save a club who thousands of fans will care about (just like our own)...

...then I saw your location.

You might be on to something there! Maybe its been bred into me!

I've actually got more reason than most to dislike Pompey fans. But a message board open to all and sundry is probably not the place to discuss that. But i genuinely have empathy for the majority of their fans. I really do. But i don't believe the PL should be stepping in to help them. They got themselves in this mess and they should suffer the consequences. You reap what you sew.

[philipl]

The answers to pretty well al the questions are here in this BBC piece.

Very interesting to see the BBC openly hinting at the corruption which has been muttered about privately for quite some time now.

The piece also says what I was believing- another trip to the High Court on Monday means a virtual certain winding up.

However, not appointing the Court appointed reporting accountant as administrator is asking for enormous problems as whoever Chanirai does appoint will not have the ear of the Courts and will immediately be deemed hostile by HMRC.

My gut feel as things stand is Pompey will limp on until the summer and collapse before the new season starts because whoever is the administrator will fail to find a buyer (the BBC called Pompey's succession of owners the idiot line!!!) and will fail to reach agreement with the creditors. In those circumstances, Pompey will not be able to fulfill the Football League criteria on 1 July, take a 15 point hit and at that point the Administrator will liquidate.

[patrickvalery]

The answers to pretty well al the questions are here in this BBC piece.

Very interesting read. Pompey's situation seems to get worse every time i read something new. This quote from the article sums it up for me;

How Pompey got itself into such a hole with HMRC is another question.

Q: OK then, how did that happen?

A: How long have you got? The short answer is a shocking disregard for basic housekeeping: do not spend more money than you actually have. Portsmouth have been ignoring this one for at least four years.

The slightly longer answer is appalling mismanagement, combined with an arrogant belief that the usual rules do not apply, naked greed and a failure on the part of the authorities to regulate the industry properly.

If this is the case i feel justified in having little sympathy for the club. The money men must have simply buried their heads in the sand. Even the Leeds fiasco was more justified than this. At least they had a large following, high numbers through the turnstiles and had acheived Champions League football. Pompey's only reward for their recklessness was an FA Cup triumph. Ok, lovely to win but the revenue received from it cannot of been significant.

[American]

From what I read, one of the big problems was the bonuses for winning the FA Cup - 1 million for Harry and 250k for each of the players.

[Rover Down Under]

"The slightly longer answer is appalling mismanagement, combined with an arrogant belief that the usual rules do not apply, naked greed and a failure on the part of the authorities to regulate the industry properly."

And that pretty much also describes the cause of the recent world financial crisis.

[Baz]

Hmmm, Nicko what has happened to the whole fit and proper test? Who does this test, because clearly its not working if Pompey have had 4 owners already.

From meeting notes between Richard Scudamore and Pompey fans:

With regard the Fit and Proper Person's Test there is nothing about the test that looks specifically at effective ownership of a football club. It is a legal test, to check that a person is legally entitled to own a football club. It is not a test to check whether someone has the financial capability to run a club and is not a ‘motives test’, which would be virtually impossible to establish anyway. The test is applied rigorously to every current and prospective owner/director at PL football clubs. It is not a desktop exercise and business intelligence experts are used by the PL as part of it. RS did acknowledge that the Fit and Proper Person Test was not the best name for the test as it suggested that it was more than a legal test. It was only named this way as other football bodies and industries referred to it as such.

[PAFELL]

But they do gain from it. They stay in existence.

If they get deducted points next year then i could just about accept this idea. But if they avoid that then it would be criminal. It seems to me we hear about players being expected to play 'fair' in regards to diving etc... But there are huge double standards from the very people running the league.

I see the sense in what your saying Nicko. But it leaves a nasty taste in the mouth.

I think Leeds did something simular a few years ago. did they not just have debts wiped off?

It does leave - in my view - a bad taste in the mouth. But at the sametime I would hate to be a pompey supporter wondering 'if the club I support are going out of business completely, who do i support instead'.

What a horrible position to be in in. If Rovers went out of business tomorrow who would you support instead?

For the non-businessman (as in me) administration stinks, but what is the alternative in football terms / support mean?

[philipl]

From what I read, one of the big problems was the bonuses for winning the FA Cup - 1 million for Harry and 250k for each of the players.

That is symptomatic rather than causal- they have flogged off Crouch, Defoe, Modric, Bridge, Diara et al for £70m+ despite taking less than market prices for them and are STILL £70m in debt.

Serb international defender free agent again as PL refuse to sanction Pompey registering him.

Chainrai was not such an idiot as he secured all his debt on the whole club. This means his £17m must be repaid and is one of the reasons I am forecasting Pompey being liquidated this summer. There is a decent chance there is going to be close to zero left when the administrator and creditors have finished with it. The PL advancing the parachute means any new owner will have no parachute, huge rental costs for the ground, no staff and every likelihood sarting at -15 points and budgeting for League 1 existance after a Championship relegation.

[Brfcrule1]

Reading the above 2 articles more and more facts are now coming out Sacha Gaydamak's father the previous owner was sued by the current owner B.Chanrai?. Looking at it even someone who knows nothing about takeovers would have smelt a rat!. Personally P.Storrie should be held firmly accountable for this mess. Can someone also confirm if the club go into administration tommorrow will we be allowed to bid for some of their players even though we are outside of the transfer window or would they have to be loans until the summer? then we could get them permanently?

thanks

[Hughesy]

Can someone also confirm if the club go into administration tommorrow will we be allowed to bid for some of their players even though we are outside of the transfer window or would they have to be loans until the summer? then we could get them permanently?

I wouldnt of thought we could bid for players to come in now....maybe summer, but not now! Not alot left their anyway so not many players worth showing any interest in!

[thenodrog]

Can someone also confirm if the club go into administration tommorrow will we be allowed to bid for some of their players even though we are outside of the transfer window or would they have to be loans until the summer? then we could get them permanently?

thanks

Hey yeah. Good thinking ...... Do you think we could get the Axe back on the cheap?

[1864roverite]

Avram Grant just more or less confirmed Pompy are to go into ADMINISTRATION tomorrow.

1 down 2 to go.

[vinnicombe]

'nicko'

The Premier League are not SAVING them. They are advancing them money they are due down the line. This way they get through the season and then toddle off.

It's a better solution that seeing them go bust on Monday, all of the points get wiped, games get cancelled, season tickets refunded and we have nine games every weekend instead of ten.

Pompey don't GAIN from this, nobody else loses...it just makes the problem go away until the summer. They get penalised points, they go down.

It's a fair plan.

Pompey don't gain from it??????????????

Erm, you sure about that?

[Amo]

That is symptomatic rather than causal- they have flogged off Crouch, Defoe, Modric, Bridge, Diara et al for £70m+ despite taking less than market prices for them and are STILL £70m in debt.

Kranjcar, Johnson, I presume.

[philipl]

Yes you are right.

[Brfcrule1]

hughesy said: I wouldnt of thought we could bid for players to come in now....maybe summer, but not now! Not alot left their anyway so not many players worth showing any interest in!

how about Dindane/Piquionne I know we were interested in both before they went there what about the loan position could we get either of them on loan?

[philipl]

Pompey go into Administration today with their preferred man as administrator after unsurprisingly none of the four interested parties giving proof of funds yesterday. Chanrai has pledged to keep funding wages during administration which completely changes my assessment of Pompey's prospects.

Clearly Chanrai has worked out a scheme in which he either ends up with a viable club or a profit on sale from the administrator.

[American]

They were always going to be sold, it's just that no one in their right minds will buy them before they go into administration, considering the league position and the 9 points not making a difference to it.

[Tim Southampton Rover]

Can anyone help me? I bid for a Mickey Mouse outfit on e-bay, turns out that I'm just several hours away from owning Portsmouth F.C!!!

[Montfort]

Can anyone help me? I bid for a Mickey Mouse outfit on e-bay, turns out that I'm just several hours away from owning Portsmouth F.C!!!

I have no sympathy for the club whatsoever. I feel they have effectively cheated their way to the FA cup and feel sorry for the clubs that were relegated from the premiership in their place.