Portsmouth Admin

[6ft Kerplunk]

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8616728.stm

I'm not sure the role of the administrator should be to defer debt to ficticious future owners, as seems to be case according to Richard Hughes. So by defering payments, they are also defering tax and racking up prefered payments if and when Pompey do go titsup.

I thought that when I heard it this morning. How is the administrator allowed to do that? Surely by saying they can't afford to pay the wages now its an admission that they're not solvent in any way and should be wound up?

Once again I'll ask, how many of those players that other clubs are willing to pay millions for have been sold? As that was their survival plan and it hasn't happened surely the administrator has to say enough is enough.

[ankeny]

I have been a football fan since we won the World Cup in 1966 and I never detested a club or its fans as much as I do Portsmouth,it seems the can do as they like I hope Chelsea put ten past them the cheating cutns.

[Barry the bird boggler]

What's the betting Agostini is a Pompey fan...? When are they due back in court again?

[Geekins]

I have been a football fan since we won the World Cup in 1966 and I never detested a club or its fans as much as I do Portsmouth,it seems the can do as they like I hope Chelsea put ten past them the cheating cutns.

Mega fucking 'greed

Spurs can beat Arsenal but can't beat a shitty team like Pompey. I really do hope we thrash them home and away next season!

[Barry the bird boggler]

Not much chance of that, historically our record against them is almost as miserable as you can get.

But I guess 90 minutes of chanting "same old Pompey, always cheating" will make up for it.

[kieran]

Not much chance of that, historically our record against them is almost as miserable as you can get.

But I guess 90 minutes of chanting "same old Pompey, always cheating" will make up for it.

Quell suprise!

Pompeys record against Chelsea is really bad as well. Oh, I know why, they are usually better than us. der!

Suppose you think Chelsea cheat as well by buying players their infrastructure couldnt sustain without a sugar daddy.

[Ian Royal]

Do you not think there is a slight difference between spending money you actually have regardless of where it came from, and spending money you don't have, and probably never had a chance of having?

[kieran]

Do you not think there is a slight difference between spending money you actually have regardless of where it came from, and spending money you don't have, and probably never had a chance of having?

Well, that just sums up your mis-understanding of the situation.

Gaydamak did have the money and said that it was a gift. Much in the same vein as Abromavich. Sadly, Gaydamak took it alll back and some! Pompey had the money at the time, just not now.

[Geekins]

Yes but Ambramovic hasn't taken it back and they still run solvent.

[Ian Royal]

Do you not think there is a slight difference between spending money you actually have regardless of where it came from, and spending money you don't have, and probably never had a chance of having?

Well, that just sums up your mis-understanding of the situation.

Gaydamak did have the money and said that it was a gift. Much in the same vein as Abromavich. Sadly, Gaydamak took it alll back and some! Pompey had the money at the time, just not now.

No neither of them have gifted the money. They have loaned it, free money isn't real.

And Pompey continued to spend after Gaydamak left.

[Tails]

Chelsea =/= Portsmouth

Abramo has made arrangements to turn his investment into equity. Abramo was already a fan of football.

Gaydamak has not quite taken this path.

Chelsea were already winning SuperCups, Cup winners Cups, FA Cups prior to the Abramo take over, yeah they were in debt but so are many other clubs.

Todays Fun Fact....Chelsea only have their name as its attached to the ground, if they move they will have to change their name to something like Knightbridge United or something.

[Sun Tzu]

If the money had been given to Pompey then it couldn't have been taken back....

LOL at Pompey if they thought some fool was simply handing over wads of cash for absolutely no return !

I just hope they don't wriggle out of it .

[PieEater]

LOL at Pompey if they thought some fool was simply handing over wads of cash for absolutely no return !

I think that's exactly what they thought, but didn't even have the wherewithall to actually ask him to check.

[Franchise FC]

Do you not think there is a slight difference between spending money you actually have regardless of where it came from, and spending money you don't have, and probably never had a chance of having?

Well, that just sums up your mis-understanding of the situation.

Gaydamak did have the money and said that it was a gift. Much in the same vein as Abromavich. Sadly, Gaydamak took it alll back and some! Pompey had the money at the time, just not now.

No neither of them have gifted the money. They have loaned it, free money isn't real.

And Pompey continued to spend after Gaydamak left.

Abramovich has converted a substantial amount to equity, so that is no longer loan or gift and significantly more difficult for him to get it out.

[Uke]

Well, that just sums up your mis-understanding of the situation.

Gaydamak did have the money and said that it was a gift. Much in the same vein as Abromavich. Sadly, Gaydamak took it alll back and some! Pompey had the money at the time, just not now.

No neither of them have gifted the money. They have loaned it, free money isn't real.

And Pompey continued to spend after Gaydamak left.

Abramovich has converted a substantial amount to equity, so that is no longer loan or gift and significantly more difficult for him to get it out.

But he can still sell up or just not invest additional funds and the shares become worthless

[leon]

Irrespective of finances they are dreadful Pikeys. F*cking awful club.

[Dirk Gently]

Portsmouth's actual level of debt is far worse than reported, with £119 million owed to various creditors - including astonishing amounts to agents.

.....

Of the £105 million debt, £9 million is owed to 15 agents. In one deal alone, an agent is owed £2.3 million.

The breakdown includes: £90 million owed to unsecured creditors - of which £38 million is due to three previous owners in the form of loans, £5 million to trade creditors, £9 million to agents. There is also £1 million owed on hire purchase. A sum of £14 million which is "off the balance sheet" because it relates to players.

There is also £14 million owed to secured creditors, which is the last owner, Balram Chainrai, in the form of loans

.

http://soccernet.espn.go.com/news/story?id=774063&sec=england&cc=5739

[Silver Fox]

Not our problem, move along, nothing to see here

Good to see that Pompey have managed to breach their contract with Lens, did Lens just decide that as there was no chance of getting the money there was no point in claiming it? Or are "the new owners" going to pay that aswell as the bonuses that have been deferred?

[kieran]

Do you not think there is a slight difference between spending money you actually have regardless of where it came from, and spending money you don't have, and probably never had a chance of having?

Well, that just sums up your mis-understanding of the situation.

Gaydamak did have the money and said that it was a gift. Much in the same vein as Abromavich. Sadly, Gaydamak took it alll back and some! Pompey had the money at the time, just not now.

No neither of them have gifted the money. They have loaned it, free money isn't real.

And Pompey continued to spend after Gaydamak left.

Not true, sold many, many players for x millions. Only bought in loans and 3 players totalling £6m, most of which deferred.

[Ian Royal]

So they continued to spend money they didn't have then.