[Archived] Time Up Pompey?

[Hughesy]

You have to factor in the games played to make sense of this. For instance Fulham would be level with us but they would have a game in hand on us as well.

Very true....i was simply pointing out what it would do in terms of points. Liverpool would be very happy with it....

Also another thing - If a club owes Pompey money...i.e. Liverpool for Johnson & they go bust, what happens to that? Does the other club get away with it?!

[gumboots]

Very true....i was simply pointing out what it would do in terms of points. Liverpool would be very happy with it....

Also another thing - If a club owes Pompey money...i.e. Liverpool for Johnson & they go bust, what happens to that? Does the other club get away with it?!

Depends how it happens. Administrators try to get in all the money they can, take their own fees and share any cash left over out according to rules. Admin fees take up a huge amount of any cash raised - I know because my daughter got a court decision in her favour over some unpaid bonuses from a holiday firm she worked for but she didn't see a penny of it. all we saw was statements of debt run up by the company and the admin fees taking all that was left.

[LeChuck]

Do Pompey have enough saleable players to get the money in required to save them?

Belhadj and Boateng are the obvious two, I'd love either of those here. They could probably get the £8 million they owe from those two...but they'd be very unlikely to get that all at once, most fees are paid over long periods now.

Most of their other good players are on loans, whilst James is too old to command a fee. They might get small fees for Ben Haim, Utaka, Bouba Diop and Mullins...nothing that will save the club though.

[unluckymorton]

Do Pompey have enough saleable players to get the money in required to save them?

Belhadj and Boateng are the obvious two, I'd love either of those here. They could probably get the £8 million they owe from those two...but they'd be very unlikely to get that all at once, most fees are paid over long periods now.

Most of their other good players are on loans, whilst James is too old to command a fee. They might get small fees for Ben Haim, Utaka, Bouba Diop and Mullins...nothing that will save the club though.

Kevin Prince Boateng would slip straight into our midfield. He's a more mature N'Zonzi, I do like the look of him.

James wouldn't command a fee but will be extremely high wages.

I can't see where the rest of the money is coming from though, unless they are prepared to sell Th'axe!!!

[braddock]

The sale of Nugent would save the club. He's a superstar.

[only2garners]

Do Pompey have enough saleable players to get the money in required to save them?

Belhadj and Boateng are the obvious two, I'd love either of those here. They could probably get the £8 million they owe from those two...but they'd be very unlikely to get that all at once, most fees are paid over long periods now.

Most of their other good players are on loans, whilst James is too old to command a fee. They might get small fees for Ben Haim, Utaka, Bouba Diop and Mullins...nothing that will save the club though.

They are £60m in debt, not £8m. £8m is just the undisputed tax and VAT bill - there's another £4m+ in dispute to there as well

[LeChuck]

They are £60m in debt, not £8m. £8m is just the undisputed tax and VAT bill - there's another £4m+ in dispute to there as well

I meant the immediate bill that is threatening their existence, I know the total debt is far higher.

[CaliRoverNYC]

I'm not super into football economics but how much does a Championship club normally sell for? I guess what I'm asking is would it be feasible to sell the club for 1 pound to an owner that understands they are buying a championship club at the cost of paying off the debt... I'm sure it isn't that simple, otherwise it would already be done... So I suppose the Club is not worth the amount of money they owe in debt, and in that case I see no reason why they would survive...

[koi]

The question of what happens to the points is an interesting one and I haven't a clue how they'd handle it.

[nicko]

Pompey will get permission to sell players - or do the deals to guarantee their eventual transfers.

The problem is going to be finding buyers. Football is skint right now and many decent-sized clubs simply do not have spare funds.

The Premier League will also advance them the parachute money...without a vote.

But there may be a penalty involved in that.

And even that cash might not keep them going.

Shambles.

[only2garners]

The question of what happens to the points is an interesting one and I haven't a clue how they'd handle it.

You could try looking at the rest of this thread. If Portsmouth cease to exist the points earned and games played will be wiped out and the Premier League will revert to a 19 team, 36 game season with 2 teams being relegated.

[braddock]

massive apologies if this has been asked before but what will happen to the (crappy) leagues below should portsmouth die? with only two teams going down to the championship will it mean an extra team will be promoted from league 1 or will an extra team survive the drop to league 1. and what about all the other divisions?

[EwoodGlory]

They might be alright, there's a possible takeover close apparently. News to come out tomorrow.

[only2garners]

massive apologies if this has been asked before but what will happen to the (crappy) leagues below should portsmouth die? with only two teams going down to the championship will it mean an extra team will be promoted from league 1 or will an extra team survive the drop to league 1. and what about all the other divisions?

Exactly as for the Premier League - same number come up and one less goes down.

[Earlydoors]

The Premier League will also advance them the parachute money...without a vote.

Will all clubs receive money equivalent to Parachute money at the same time as Portsmouth or will individual club's lost (savings) interest payments be overlooked for the 'Collective Good' of the image of the Premier League?

[Hughesy]

Depends how it happens. Administrators try to get in all the money they can, take their own fees and share any cash left over out according to rules. Admin fees take up a huge amount of any cash raised - I know because my daughter got a court decision in her favour over some unpaid bonuses from a holiday firm she worked for but she didn't see a penny of it. all we saw was statements of debt run up by the company and the admin fees taking all that was left.

Taken from BBC....

Meanwhile, a financial expert says Portsmouth face a very real threat of extinction because of their financial problems and he believes administration is an unlikely option.

"Arguably, the level of debt associated with this case will mean that it is unlikely that a suitable or willing benefactor will be found," said Simon Wilson, a partner with restructuring experts Zolfo Cooper.

To continue to underwrite the club would most likely result in greater losses at a later date

Financial expert Simon Wilson

"Portsmouth therefore face the very real threat of liquidation because it is increasingly unlikely that an administration order will be sought or granted.

"In this eventuality, the players' contracts are no longer assets of the club and it would lose its membership of the Premier League.

"The role of the liquidator would be to realise whatever free and available assets still remain.

"The value of these assets would be nominal. While the unsecured creditors, including HMRC, would likely see no return from such a process, it is not in their interests to continue to support a business that is simply not viable and has no financial substance.

[Paul]

Pompey will get permission to sell players - or do the deals to guarantee their eventual transfers.

The problem is going to be finding buyers. Football is skint right now and many decent-sized clubs simply do not have spare funds.

The Premier League will also advance them the parachute money...without a vote.

But there may be a penalty involved in that.

And even that cash might not keep them going.

Shambles.

The highlighted points are nothing short of a disgrace. Shambles is bang on and so typical of the fools running the Premier League

[gumboots]

The highlighted points are nothing short of a disgrace. Shambles is bang on and so typical of the fools running the Premier League

Why would any sensible club pay money up front now for players they can't play till next season andwho will be free agents if Portsmouth go out of business? and whose money are they paying the parachute payment with?

[nicko]

Why would any sensible club pay money up front now for players they can't play till next season andwho will be free agents if Portsmouth go out of business? and whose money are they paying the parachute payment with?

The matter has gone to FIFA who will decide if these players can PLAY for other teams this season.

The Premier League has said it is OK for the players to be sold but they would go into limbo if FIFA do not allow them to actually start appearing for their new clubs.

Got to say the transfwr window needs smashing...but I didn't expect it to come around like this.

The Premier League parachute payment is from its own prize fund. Pompey ould be due it in a year if they went down, so they can just get it early.

Many clubs take out advances like this but do it through banks or financial houses. Obviously Pompey would struggle to have an advance from the banks right now...

[Amo]

Wait a minute. If the PL release the parachute payments now, what happens afterwards? They'll be scrabbling for that money when they're in the lower leagues. It's a complete farce, but it's only right the FA take some responsibility. I've said all along that if their so called 'fit and proper persons' test was any crack, they wouldn't have had owners playing pass the parcel.

Time to put the Benni money towards a bid for Belhadj.

[koi]

You could try looking at the rest of this thread. If Portsmouth cease to exist the points earned and games played will be wiped out and the Premier League will revert to a 19 team, 36 game season with 2 teams being relegated.

I've read the thread thanks. We don't know what will happen if they fold and it'll be interesting to see what the FA says about it.

[nicko]

Wait a minute. If the PL release the parachute payments now, what happens afterwards? They'll be scrabbling for that money when they're in the lower leagues.

The parachute money is due to Portsmouth...but later down the line.

If they don't get it there won't be a 'later down the line' for them.

[gumboots]

The parachute money is due to Portsmouth...but later down the line.

If they don't get it there won't be a 'later down the line' for them.

It's only due to them though if they stay afloat in a lower league not if they go out of business. Then they wouldn't get it at all. So it's a risk giving them it now.

[nicko]

It's only due to them though if they stay afloat in a lower league not if they go out of business. Then they wouldn't get it at all. So it's a risk giving them it now.

There will be a penalty involved if the money is handed over early.

But saving that for later...

[No, that's not an 11 o'clocker alert]

[Seggie]

As much as I don't want to see a football club disapear, other clubs would be stupid to risk bidding for players if they could get them as free agents in a few weeks time. Other clubs need to take a look at whats happening at Portsmouth and say 'We need to manage our club better, otherwise this could happen to us.' It would be a calculated sensible risk as Portsmouth may not go under or that another club will come in and sign the player before you get the opportunity but it makes sound financial sense to operate this way with the players on offer.