Will Pompey fold? (merged threads)

[jackanada]

If they are still in business next season (very very doubtful) I really don't see, given the precedents someone else will recall better than me, how they could have a points deduction of anything less than 20.
By the way Portsmouth -you are not a big club who got caught out and deserve special treatment, that would be Rangers, who could with done justification been forced to restart even lower but have at least taken their punishment on the chin and are bringing some much needed gate receipts to the basement of the Scottish league.

 

[seagullsovergrimsby]

Rotherham and Bournemouth had to accept a 17 points deduction from the FL or be expelled back in 2008.

 

[Barnham Seagull]

By Emma Judd
Published on Friday 8 March 2013 15:31

FOOTBALLING history is a step closer to being made after the Pompey Supporters’ Trust exchanged contracts to buy the club out of administration.

It means that as long as the Royal Courts of Justice value the Fratton Park stadium at a price the trust can afford, Pompey will become the largest fan-owned club in history.

It will be owned by the PST and individual high net worth investors.

Iain McInnes has been formally appointed as club chairman, while Ashley Brown remains chairman of the trust itself.

He said: ‘We are delighted to announce that on Thursday afternoon we exchanged contracts with PKF for the acquisition of PFC. We must now focus on securing the release of the charge on Fratton Park which in turn will trigger the completion of the deal.

‘We are on the verge of creating football history. Several thousand fans are already part of that and we urge others to now join us so that they to will own a part of their club.

‘We are confident of success in the court, but we would still welcome the opportunity to settle quickly and allow us to start the job of rebuilding the club with the community and supporters at its heart.’

Mr McInnes added: ‘If you believe it you can achieve it. I’m proud to be part of a group of people who have collectively pulled together to get us this far. Finally the fans can see the end of what’s been a very long and challenging haul.

‘We will not be counting any chickens just yet particularly as there’s due process to go through. However I believe that if a bid is to be judged on its merits, financially, operationally and motive then there can be only one outcome. So let’s get on and get this done.

‘The simple fact is that every penny we raise as fans, whether through the trust or as individual fan investors, will contribute directly to the rebuilding of our club.

‘The money we have raised will be the most significant capital - as opposed to loan - injection the club has had in the past 30 years. It will mean Pompey fans will be in control of the destiny of our club.’

The deal hinges on the judge allowing Pompey’s administrators PKF to sell the club, including its principal asset Fratton Park, for a ‘market value’ and in the process satisfying the charge Portpin Ltd has.

The PST has raised around £2m through a share issue and confidence is high more fans will now join the trust share scheme. The trust will use the money raised to have a majority shareholding in the club, with the balance of shares owned by individual Pompey fan investors.

PKF administrator Trevor Birch said: ‘We can confirm that the administrators have now exchanged contracts with the PST for its purchase of Portsmouth Football Club.

‘Completion is conditional only upon the court sanctioning the sale of Fratton Park and the Football League transferring the membership share.’

 

[CliveWalkerWingWizard]

Unlikely but now only three points from safety - any ideas when the 10 point penalty will be given ?

 

[Deleted member 2719]

Unlikely but now only three points from safety - any ideas when the 10 point penalty will be given ?

They are far too close to safety for my liking, let's hope the 10 points get deducted soon to put urine on their fireworks.

 

[shingle]

Don't worry chaps they're down, with or without a ten point deduction.

Only four games left to play and two of them are against Brentford and Sheffield Utd. Yes they are 3 points from safety, but Oldham in the last safety spot have three games in hand.

Barring a miracle they're down

 

[portslade seagull]

10 point deduction is Automatic when they come out of admin which they have to do b4 the end of the season

 

[screamadelica]

On the positive side they are pretty much doomed to relegation this season with or without a points deduction which under Football League rules means that whenever they come out of admin between now and the start of next season (effectively early July when fixtures are published) the automatic deduction of points will be applied to next season meaning they will probably start on -12 points.

If they fail to exit admin by then they will lose the golden share and with it membership of the Football League.



Everything comes to he who waits...
.
..
.

We could lend them Ashley Barnes and Ryan Harley just to make sure

 

[CliveWalkerWingWizard]

If they are down when they come out of admin will the 10 pts go to next season ?

 

[Barrel of Fun]

We could lend them Ashley Barnes and Ryan Harley just to make sure

Both more than adequate at League One level?

 

[8ace]

No bookmakers are laying them to get relegated (although still 1/14 on BF if smashing into a skinny one is your kind of thing) so it must be nailed on.

 

[mistahclarke]

I've heard they are going to offer Samba a double your money deal to join them to save their season on a 10 year contract.

 

[Sussex Nomad]

If they are down when they come out of admin will the 10 pts go to next season ?

Yep, they'll get deduction, whenever it may be.

 

[screamadelica]

Both more than adequate at League One level?

You are probably right , if Gus plays either again this season he wants shagging

 

[Pinkie Brown]

This saga has dragged on for so long, I've forgotten why Pompey weren't dinged with the -10 at the start of the season - Someone jog my memory please.

Coventry were hit with -10 the other day, as soon as they declared administration.

 

[seagullsovergrimsby]

10 point deduction is Automatic when they come out of admin which they have to do b4 the end of the season

If they are down when they come out of admin will the 10 pts go to next season ?

I believe the 10 points deduction is held over (it cannot be applied this season as the cut off date has gone) if the club comes out of administration before April 28th. If they come out of administration on or after this date which is the day after the season finishes in League 1 they will be expelled. The 10 points deduction is carried over to next season if they exit administration in time but are already confirmed as a relegated side. The FL in this scenario has to consider imposing a further points deduction if they think Portsmouth has tried to exploit a loophole in the current rules.

 

[Dick Knights Mumm]

I saw a sign of the times on Friday evening. We were just walking to some friends when I saw a local Pompey fan walking down the road wearing his scarf. I thought that was odd - but hey - he's a Pompey fan. We carried on walking and went past the back of the local pub, and I saw him walking out and back home. Then the penny dropped. Pompey were on the box for their evening game, he had gone down the pub to watch it - like the old days ............ but no-one cares any more. Bless.

 

[Dick Knights Mumm]

if they think Portsmouth has tried to exploit a loophole in the current rules.

What are the chances of that ?

 

[edna krabappel]

No bookmakers are laying them to get relegated (although still 1/14 on BF if smashing into a skinny one is your kind of thing) so it must be nailed on.

Yeah, I was starting to worry that they might manage some sort of jammy escape, but Manish Bhasin said on the FL Show last night that the ten points would be taken off as soon as they come out of admin, which they have to do or be expelled from the league.

I believe the technical term for this is "a win-win scenario".

 

[edna krabappel]

I've heard they are going to offer Samba a double your money deal to join them to save their season on a 10 year contract.