[Archived] Time Up Pompey?

[T4E]

......and probably increases his take home pay.

[Stuart]

Anyone any idea why they haven't had their points deducted yet? I thought administration was ratified last week...

[philipl]

The Administrator has convinced the Revenue not to push for his removal but the Court process was started and still needs to be heard tomorrow. HMRC will presumably now tell the Court they are not pursuing the matter but another creditor might not be so amenable and the judge himself might not be swayed by a sweetheart deal with HMRC and still decide the current administrator has not done enough to remove the shadow.

So in short, the Court decides if Pompey are properly in Administration or not and that is a decision to be taken tomorrow. Odds on the Administration will be declared valid and Pompey lose their 9 points but if the Judge considers these matters are still murky and has had enough of people emerging to buy Pompey, he could turn awkward so I would not be totally surprised if there is a twist in the tale.

[Stuart]

Thanks Philip. I think I read that HMRC were the ones pushing the hardest to make an example of Pompey to the rest of football. If they've now gone soft, then I expect court to be a formality. Administrator in, Storey out, might be enough to convince the court that a wind of change has blown through Portsmouth FC.

Chester going to the wall may also have removed the need to make an example of Portsmouth.

Given what has gone on there, I think they should be happy to only be relegated.

[T4E]

Would love to see them dig themselves out of trouble before the points deduction, only for it to take til the Summer to be ratified.

It would be yet another massive headache for the Premier League, and no more than they deserve.

[roversnick]

How come they still have not had the 9 points deducted.

Also, how come crystal palace got deducted 10 points and not 9?

[gumboots]

How come they still have not had the 9 points deducted.

Also, how come crystal palace got deducted 10 points and not 9?

You play more games in lower leagues so get deducted more points. And Portsmouth will lose the points but the legality of the admin was only agreed yesterday, I believe.

[thenodrog]

Would love to see them dig themselves out of trouble before the points deduction, only for it to take til the Summer to be ratified.

Careful.... we've still to go there!

[den]

You play more games in lower leagues so get deducted more points. And Portsmouth will lose the points but the legality of the admin was only agreed yesterday, I believe.

The administrator is still hoping to avoid the points penalty. He reckons Pompey should be judged on the pitch.

Also, if Pompey are relegated and start the new season still in Administration they will be handed a 10 point deduction. The administrator says that would be absolutely disastrous.

[Hughesy]

What happens if Pompey will go down anyway regardless of the minus 9 - doesnt the deduction in points happen next season instead?!

[nicko]

Pompey meet the Premier League tomorrow. They will do the points penalty for cash deal that has been in place for two or three weeks...

If they pay their bills and satisfy their creditors then they will get out of admin and avoid a Football League points penalty for next season.

The Pompey players were told yesterday which might explain why they played like drains last night and Uncle Avram looked even more like Doctor Death.

[den]

Portsmouth could come out of administration within 6 weeks.

[Earlydoors]

Portsmouth could come out of administration within 6 weeks.

I think that they have to satisfy 75% of (by value owed) their Secured Creditors to reach an agreement.

I think they have two Secured Creditors - Balram Chanrai and Alexandre Gaydamak

I think that they are owed £33m and £28m respectively.

I think if pompey get £32m (2 x para money of £16m) then these two will get 52p in the pound.

I think its a question of whether this figure is acceptable to them.

I think HMRC and the unsecured creditors will get nothing.

[T4E]

You think too much.

[modes98]

I think HMRC will get nothing.

I think they will get something, Pompey won't just be allowed to not pay what they owe.

[Baz]

I think that they have to satisfy 75% of (by value owed) their Secured Creditors to reach an agreement.

I think they have two Secured Creditors - Balram Chanrai and Alexandre Gaydamak

I think that they are owed £33m and £28m respectively.

I think if pompey get £32m (2 x para money of £16m) then these two will get 52p in the pound.

I think its a question of whether this figure is acceptable to them.

I think HMRC and the unsecured creditors will get nothing.

Its this kind of deal I find sickening - the ones who lose the most are the smaller creditors who have less to lose. The likes of St Johns Ambulance, local suppliers of goods etc, whereas the major creditors, big earners (Storrie) and players all walk away with a good deal.

The rules should be clear, and I cant see why this wouldnt be enforceable - if you go into administration then you either agree to pay back 100% over an agreed period, or you start next season in the conference, and a properly run club can take your place in the league.

[Hughesy]

Finally deducted 9 points

Now 17 behind 4th bottom and just 10pts - thats 1 team gone!

[thenodrog]

The administrator is still hoping to avoid the points penalty. He reckons Pompey should be judged on the pitch.

Better be quick then ..... they might not have a pitch for much longer.

[philipl]

Points penalty confirmed and the Administrator still asking the PL for help. No doubt the appeal against the points penalty has to be lost and out of the way before a penny goes in the direction of Pompey.

For anyone following this saga, this BBC piece is the most illuminating so far. The taxman got Pompey to pay for the taxman's appeal against the Administrator's appointment and to say a noose is tightening around Jacobs et al would be an understatement.

I think the things I guess nicko knows are going to come out...

[allanncd]

Avram Grant gas indicated that now Prem status is a lost cause he no longer feels any need to play his strongest team. As Rovers visit Pompey the week before their FAC semi - can Rovers expect to face a weakened team? Might be in desperate need of the pointsn by then........

[thenodrog]

Avram Grant gas indicated that now Prem status is a lost cause he no longer feels any need to play his strongest team. As Rovers visit Pompey the week before their FAC semi - can Rovers expect to face a weakened team? Might be in desperate need of the pointsn by then........

Every pompey player should be playing to impress possible new clubs though won't they? They'll all likely be in the shop window.

[gumboots]

Every pompey player should be playing to impress possible new clubs though won't they? They'll all likely be in the shop window.

Impossible to predict exactly what will happen though. Players SHOULD be playing to impress purchasers, but it must be darned hard to get yourself up for games as a team, knowing that whatever you do you will be relegated.

[Amo]

Exclusive: Peter Storrie sets the record straight about his role in the financial crisis engulfing Fratton Park.

[gumboots]

Exclusive: Peter Storrie sets the record straight about his role in the financial crisis engulfing Fratton Park.

so he's doing a pontius Pilate job. "I did it but it's not my fault. I was pushed into it by those naughty owners. I coudn't refuse the bonuses I knew the club couldn't afford to pay and I didn't know the money had come from Gaydamak senior's dodgy dealings. I'll just let everyone know it wasn't really my fault and I'll be absolved of all blame." Washing your hands only gets you one thing - clean hands - not a clean and clear conscience.

[DeadlyDirk]

When we won the Cup and did well in the league, he gave me a £750,000 bonus but I was only on £450,000 basic then.

Only on basic pay of £450k, that's astonishing!! Why are we giving money to starving children in Africa when people like Peter Storrie have to get by on 450k a year!!! Poor little man.