Portsmouth Admin

[Mr Angry]

Bigger debts than most - and a message to the PL.

Whatever you do, don't get relegated?

Pompey's problems were caused because they weren't relegated 5 or so seasons ago.

[Who Moved The Goalposts?]

I agree with most of what you have posted Mr A.
The only thing I would say is why single out Pompey?
Over the years all of the South Coast clubs have trod a similar path but I suppose Pompey have the largest debts by far and one day football clubs have to join the real world as must the players.
Local traders here in Bournemouth have lost thousands (which by degree is like losing millions to a Premiership club) to AFC Bournemouth and the fans are forever dipping further into their pockets to keep the club alive-the vice-presidents have even bought season tickets for life (so lessening future revenue)and apparently the money from about 3,000 season ticket sales has already been spent.

As others have said football clubs are supposedly in some way different from other businesses and should be treated differently-no they shouldn't.
The other thing that annoys me is that HMRC is somehow perceived as a nasty institution wanting payment when in fact it represents all of us.
For the good of football in the long run one of the bigger clubs needs to do an Aldershot or a Newport and start off again way down the football structure.
Whether Pompey will be the one we will know shortly.

Its nothing personal against Pompey VM; frankly I find what has happened to football disgusting and I would love it, just love it, to see all the Glazer's, Gillette/Hicks', Ashley's, Hammam's etc who only got into football as they see it as a licence to print money, get their comeuppance.

We have been and to continue to be living in a South Sea Bubble with football, and at some point, it will burst; loudly and causing untold damage. But I can't see any alternative to that happening because neither the football authorities, nor the clubs, nor the players or their agents, nor the fans WANTS genuine change in football, because so many people are filling up at the trough.

But when it does go pop, it will be unpleasant, and I can see no more than 35 or 40 professional clubs remaining, and even then, they will be much smaller than they are today.

Amen to that Mr A.

[Gordons Cumming]

"The Premier clubs wanted Portsmouth to go to the wall last season and divide all the TV money among themselves," said Sheldon.

Barstewards!

[Dirk Gently]

"The Premier clubs wanted Portsmouth to go to the wall last season and divide all the TV money among themselves," said Sheldon.

Barstewards!

Never forget that one of the big justifications in setting up the PL was that an 18-team league would "help the England team" as they'd play fewer matches. I kid you not!

They just somehow forgot to do the final reduction of clubs as they realised they'd be voting two of their buddies off the top table and into financial chaos.

[Barry the bird boggler]

The pig trough that is the Premiership created this problem and its been compounded even further thanks to the stupid idea that clubs being relegated will now get 4/5 years worth of parachute payments.

The sooner someone goes bang the better, and perhaps we could all do our bit by not subscribing to SKY and not paying any interest to CL games etc.

Sadly I think this'll be yet another club getting away with it instead of a final nail in the coffin that so claearly needs to be hammered home to football clubs in the top 4 divisions.

[No Hoops]

I like watching the footie on sky.

Portsmouth problem is lack of money not too much. Like any other individual or company when costs outweigh the income trouble lies ahead.

Anyway enough of that. I hope they go pop this afternoon.

[trueroyal1871]

Verdict is due at 3pm the Pompey defence have basically said "Don't let HMRC win or we'll get liquidated " The justice delivering the verdict might not be able to give a full verdict and if he does which ever side loses will be taking it to the court of appeal tomorrow which could mean that Pompey are still in administration on Saturday which means they will have to have points deducted. I'm hoping a points deduction is the least they get but liquidation would make me very happy indeed.

[Wycombe Royal]

Portsmouth problem is lack of money not too much.

The riches of the Premiership are to blame and teams spending a fortune trying to stay there. So although the lack of money is the problem, it wasn't the cause.

[cmonurz]

I don't see how 'the riches of the Premiership are to blame'. Football has to be taken out of the equation, this is about business. You don't get 'Marvin's Mini-Mart' spending millions of pounds trying to compete with Tesco. I was critical of our lack of spending as a Premier League club, but ultimately that has proven to have been the correct business approach that has secured the long-term future of the club.

The financial failings of Portsmouth FC as a business are evident, long-term, and it seems irreversible, the company is insolvent and if it can't present a means by which to repay its creditors within an agreed timeframe, then it should be liquidated. Simples? That it has subsequently calculated to plot and lie its way out of the situation, and that involvement in that spreads right through the organisation, only makes the case against it heavier.

If Portsmouth FC was 'Marvin's Mini-Mart' do we really think this case would still be rumbling on now? No, the company would have been put of of business a year ago, and I hope that fate awaits PFC today.

[Mr Angry]

Even if they lose today, they won't be liquidated; all it will mean is that someone will buy it for about 50p, guaranteeing the debt.

Why do I think that?

Cos there is always someone stupid enough to think that a football club, ANY football club, is a no risk money generating machine and will therefore be stupid enough to buy into "the dream".

[Kitson12]

13 minutes to go...

[No Fixed Abode]

Been liquidised!

[Mr Angry]

Anyone else got SSN on at the moment??

[Mr Angry]

Been liquidised!

Nothing is real until SSN reports it!!!

[TFF]

Been liquidised!

So predicktable

[Row Z Royal]

C'mon Judge! Have a pair!

[No Fixed Abode]

Been liquidised!

So predicktable

on SSN on the TV in the lobby.

[Maguire]

Been liquidised!

Imagine the size of the blender that did that

[rfcjoe]

mix it with some coors light m8. Would be lush.

[TFF]

Judgement































Delayed


Judgment in Pompey's crucial High Court case was delayed this afternoon.
Mr Justice Mann was due to start announcing at 3pm his verdict in an application by Her Majesty's Revenue and Customs that the company voluntary arrangement brokered with creditors to bring the club out of administration was flawed.

But with the court packed, officials said he would not take his seat until 3.30pm at the earliest.