Portsmouth Admin

[Ian Royal]

ahh!

[Mr Angry]

The job of the administrator doesn't end when the CVA is signed off - their job is to make sure that all the monies in the agreement are distributed to everyone it's due to - the A in CVA is for agreement , so the signing of it is only a promise to pay the creditors. It still needs to be done and that's his job.

Anyone spot the potential issue that may well mean we haven't heard the last of this saga yet??

In case you haven't, I have subtly highlighted the relevant bit....................

[Who Moved The Goalposts?]

The job of the administrator doesn't end when the CVA is signed off - their job is to make sure that all the monies in the agreement are distributed to everyone it's due to - the A in CVA is for agreement , so the signing of it is only a promise to pay the creditors. It still needs to be done and that's his job.

Anyone spot the potential issue that may well mean we haven't heard the last of this saga yet??

In case you haven't, I have subtly highlighted the relevant bit....................

I find it baffling that they still have enough money to run the club and pay squad they still have, however slim.

[Archies Left Foot]

Is it April Fools Day?

http://www.portsmouth.co.uk/newshome/En ... 6489046.jp

[Mr Angry]

They have also rejected a £3M bid for Marc Wilson from West Brom.

Shame that; some of the cash raised could have gone to pay the St John's Ambulance Brigade.

[Riseley]

Spencer Trethewy saved Aldershot and he was only 19 at the time. He had something in common with a nine bob note though.

[6ft Kerplunk]

Hmm, so a property developer wants to buy a load of land that just happens to have a financially unviable football club on it. I'm hoping he has got the cash cos this can't end well.

[Row Z Royal]

Hmm, so a property developer wants to buy a load of land that just happens to have a financially unviable football club on it. I'm hoping he has got the cash cos this can't end well.

Wrexham Part II?

[Royal With Cheese]

HE MAY BE YOUNG, BUT HE'S ALREADY GOT A FORTUNE

Tom Lever may be aged just 21, yet has already amassed a vast fortune.

Based in Manchester, the entrepreneur has made his money chiefly from development.

His father is David Lever, also heavily involved in development, who was declared bankrupt in July.

But Tom Lever says it is strictly him involved in the takeover at Pompey.

Impecable credentials.

[Archies Left Foot]

They have also rejected a £3M bid for Marc Wilson from West Brom.

Shame that; some of the cash raised could have gone to pay the St John's Ambulance Brigade.

Could the courts or any other entity start to force them to accept offers for their assets as I believe this isn't the first time they have turned down offers, based on "their" valuation of a player?

Surely a player, like a house, is only as valuable as what someone is prepared to pay for it/them? If they were flooded with offers I could see and undertsand the logic.. but it's hardly been an overwhelming start to the season for transfers across the whole of football (Man City aside)..

[Barry the bird boggler]

They have also rejected a £3M bid for Marc Wilson from West Brom.

Shame that; some of the cash raised could have gone to pay the St John's Ambulance Brigade.

Could the courts or any other entity start to force them to accept offers for their assets as I believe this isn't the first time they have turned down offers, based on "their" valuation of a player?

Surely a player, like a house, is only as valuable as what someone is prepared to pay for it/them? If they were flooded with offers I could see and undertsand the logic.. but it's hardly been an overwhelming start to the season for transfers across the whole of football (Man City aside)..

Isn't that what the Administrator is mean to do, sell off assets to realise as much cash as possible to start clearing up the debts?

[TFF]

They have also rejected a £3M bid for Marc Wilson from West Brom.

Shame that; some of the cash raised could have gone to pay the St John's Ambulance Brigade.

Could the courts or any other entity start to force them to accept offers for their assets as I believe this isn't the first time they have turned down offers, based on "their" valuation of a player?

Surely a player, like a house, is only as valuable as what someone is prepared to pay for it/them? If they were flooded with offers I could see and undertsand the logic.. but it's hardly been an overwhelming start to the season for transfers across the whole of football (Man City aside)..

Isn't that what the Administrator is mean to do, sell off assets to realise as much cash as possible to start clearing up the debts?

Yes.

But he'd argue that he needs to maintain the business as a going concern. His obligations, having agreed that ridiculous CVA are only to pay off the debts at 20p in the pound over five years. The St Johns, pieman etc have all "accepted" his terms.

He could sell the entire squad and give contracts to Havant And Waterlooville's 2nd XI but they'd have bugger all chance of still being in this league let alone promoted. He needs to keep some value in the team to sell the club as a going concern.

[Bowman's Quiver]

http://www.portsmouth.co.uk/frattonlate ... 6497111.jp?

Words fail me.

[TFF]

http://www.portsmouth.co.uk/frattonlatest/Stoke-duo-set-to-come.6497111.jp?

Words fail me.

Why?

I have many issues with what's gone over the past few months but that seems pretty reasonable business to me.

[Tony Le Mesmer]

Arent they still in administration? Frees and Loans only?

[Barry the bird boggler]

Arent they still in administration? Frees and Loans only?

This would effectively be a swap though.

[Who Moved The Goalposts?]

http://www.portsmouth.co.uk/frattonlatest/Stoke-duo-set-to-come.6497111.jp?

Words fail me.

Why?

I have many issues with what's gone over the past few months but that seems pretty reasonable business to me.

On the footballing side, yes. But for the creditors waiting to see the first payments, it's like being slapped in the face with a wet fish.

[kieran]

They have also rejected a £3M bid for Marc Wilson from West Brom.

Shame that; some of the cash raised could have gone to pay the St John's Ambulance Brigade.

Which would be silly, seeing as the fans paid that through personal denotions within 2 days of it beeing announced.

[kieran]

Well, i was thinking that as well.

Start New Season in administration = points deductions.

Failure to meet such deadlines costs Salisbury City a double relegation.

Jeff Stelling last night "Good luck to Portsmouth for the rest of the season" Yeah right, wishing good luck to a team that thieves from Charities.

Accept for the team didnt steel from charities did it? The crooked owners (allegedly) did. In fact the fans payed all bills to the charities

[handbags_harris]

Well, i was thinking that as well.

Start New Season in administration = points deductions.

Failure to meet such deadlines costs Salisbury City a double relegation.

Jeff Stelling last night "Good luck to Portsmouth for the rest of the season" Yeah right, wishing good luck to a team that thieves from Charities.

Accept for the team didnt steel from charities did it? The crooked owners (allegedly) did. In fact the fans payed all bills to the charities

Ok, alteration: swap "team" for "club" and you'll have the right phrase. The club swallowed the cash.