BHAFC_Pandapops
Citation Needed
- Feb 16, 2011
- 2,844
It's not a nice thing to happen, but I couldn't care less, I'm snuggled up in bed waiting for tomorrow.
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Lower league Pompey
- Thread starter pornomagboy
- Start date
Kalimantan Gull
Well-known member
I'm guessing that a lot of them imagine that the club will go into administration, debts cleared and eventually someone else will come and pick them up because pompey are a fairly big club, have a lot of fans, important to the community and won't be allowed to die. That's certainly what I think will happen, I'm sure they'll be saved. They may do a bit of a Stockport along the way, though, which would be good to focus a few of their minds. We on the other hand were about to fall into non-league, had lost our ground and were being run by people who both a) didn't seem to care about running us as a going business and b) didn't want to hand it over to anyone else who did.
Their situation is not dissimilar to us, in that it took a couple of years after the winding-up orders on us that we really started to protest, and only when it became clear the ground had been sold. I'm sure there were many people who were worried around the time of the Beeney sale, but the general view on the terraces in the years that followed was one of positivity over Liam Brady and his team.
BUTTERBALL
East Stand Brighton Boyz
Balram Chainrai has a charge over the ground and wants his money back. Looks like they might have another firesale in the summer unless somebody takes them over.
severnside gull
Well-known member
The EPL / FA are about to rescue Portsmouth
Good news ......from the Beeb website...The Premier League are to help struggling Portsmouth by releasing the next instalment of their parachute payment early, BBC South understands. Pompey were issued with a winding-up petition by HM Revenue and Customs on 3 January and will appear at the Royal Courts of Justice on 20 February. The latest instalment of Portsmouth's parachute money was expected in March. But it is understood that Pompey will receive around £2.5m now to help their short-term finances. Portsmouth's parent company, Convers Sports Initiatives, entered administration in November, forcing the Championship club to search for new owners. The team's players are still waiting for their January wages and the club have so far failed to gain a validation order to unfreeze their bank account so they can pay their staff. They owe £1.9m in unpaid tax to HMRC and on Friday it emerged that the club are also still paying off between £4m - £7m from the previous regime. The Premier League parachute payment means clubs relegated in 2010 receive £48m over four years. The club will receive a total of £16m from the Premier League in parachute payments during the current season, although much of this sum has already been paid. Most of the money has gone to football creditors while other creditors of the club are due to start receiving payments this year, in line with the Company Voluntary Arrangement reached after the club went into administration in February 2010.
On the same day that this is reported, the reaction of Portsmouth fans to the news that they owe two Australian clubs substantial sums:
Tell this pack of mongrels to rack off!! Their money has been flushed down the dunny, so to speak!!
Don't pay them - if we go into administration, they won't be classed as a football creditor as they're based overseas, meaning we would therefore potentially only pay them 20%.
Who would like to bet that all of these agreements relate to before the first administration and the CVA, they have no relevance to the present situation whatsoever and I'm afraid all of the clubs mentioned are going to have to write it off to experience. They have no claim.
You do wonder whether the payments they are about to recieve will actually go to HMRC and creditors under the terms of the CVA or just be divvied up between Chanrai and his stooge, Andronikou?
On the positive side it means the points we won against them are safe and, of course, there will be another tranche of around £800K tax money due at the end of March so at very best I would give it until the end of April before HMRC are forced to petition again.
Good news ......from the Beeb website...The Premier League are to help struggling Portsmouth by releasing the next instalment of their parachute payment early, BBC South understands. Pompey were issued with a winding-up petition by HM Revenue and Customs on 3 January and will appear at the Royal Courts of Justice on 20 February. The latest instalment of Portsmouth's parachute money was expected in March. But it is understood that Pompey will receive around £2.5m now to help their short-term finances. Portsmouth's parent company, Convers Sports Initiatives, entered administration in November, forcing the Championship club to search for new owners. The team's players are still waiting for their January wages and the club have so far failed to gain a validation order to unfreeze their bank account so they can pay their staff. They owe £1.9m in unpaid tax to HMRC and on Friday it emerged that the club are also still paying off between £4m - £7m from the previous regime. The Premier League parachute payment means clubs relegated in 2010 receive £48m over four years. The club will receive a total of £16m from the Premier League in parachute payments during the current season, although much of this sum has already been paid. Most of the money has gone to football creditors while other creditors of the club are due to start receiving payments this year, in line with the Company Voluntary Arrangement reached after the club went into administration in February 2010.
On the same day that this is reported, the reaction of Portsmouth fans to the news that they owe two Australian clubs substantial sums:
Tell this pack of mongrels to rack off!! Their money has been flushed down the dunny, so to speak!!
Don't pay them - if we go into administration, they won't be classed as a football creditor as they're based overseas, meaning we would therefore potentially only pay them 20%.
Who would like to bet that all of these agreements relate to before the first administration and the CVA, they have no relevance to the present situation whatsoever and I'm afraid all of the clubs mentioned are going to have to write it off to experience. They have no claim.
You do wonder whether the payments they are about to recieve will actually go to HMRC and creditors under the terms of the CVA or just be divvied up between Chanrai and his stooge, Andronikou?
On the positive side it means the points we won against them are safe and, of course, there will be another tranche of around £800K tax money due at the end of March so at very best I would give it until the end of April before HMRC are forced to petition again.
- Jul 7, 2003
- 47,272
Beats me why that club feels the need to bore us all with their tales of financial cheating/mismanagement. It feels like it's a six-monthly occurrence now. Oh, woe is us, someone save us, we're going bust, think of the fans etc. Then within days someone, as always, steps in to prevent them from ever having to learn a lesson and off we go again, until a few months down the line, when the sob stories are wheeled out once more. I wish they'd just shut up and get on with it, sparing the rest of us their tedious shenanigans.
severnside gull
Well-known member
Their continued existence is a daily testament to just how criminally mismanaged, and how far removed from the life lived by the fans who keep the whole structure in place, the football industry is
Papa Lazarou
Living in a De Zerbi wonderland
It gives a very narrow period of breathing space though, as the £2.5m can't cover all their commitment surely?
- Player Wages and back pay
- Current Tax Owing
- Money promised to previous creditors
Mileoakman
Well-known member
Only yesterday on the Portsmouth News website a number of the fans were going on that if only they could get one or two loans in quickly they could still make the play-offs!
And some people on here still wonder why we think that a dose of reality might be long overdue down the coast.
And some people on here still wonder why we think that a dose of reality might be long overdue down the coast.
severnside gull
Well-known member
they are convinced they can go back into administration with no points deducted "because it is the FL's fault in allowing (serial) owners of the club to pass the fit and proper persons test".
I'm guessing it is also HMRC's fault that tax hasn't been paid because after all is said and done it was them who failed to nail Mandaric, Storrie and Redknapp....................... don't deserve to get paid do they!?
Tony Meolas Loan Spell
Slut Faced Whores
That's clearly madness, but surely it's only a small minority of fans that think that? All clubs have their share of idiots.
BensGrandad
New member
Hotchilidog
Well-known member
- Jan 24, 2009
- 8,834
Tony Meolas Loan Spell
Slut Faced Whores
Does this mean they are free to sign more players at £20k a week? Oh its only coz the transfer window is shut. Coz if it wasnt you can bet those bastards would try.
Hotchilidog
Well-known member
- Jan 24, 2009
- 8,834
I think they said on the FLS that there is a transfer embargo in place. They still have to pay Jan wages £1.9m to HMRC and £7m to the previous regime. They will be waving goodbye to 10pts next week.
BensGrandad
New member
They will now sign some premiership high earners on loans for the season and try to get the points back. I think that with the admin should come a proviso from the FL that they cannot sign any more players, either permanent or loan, not only them but any club that enters admin.
Dick Knights Mumm
Take me Home Falmer Road
So Financial Boost (BBC News) to Administration in the space of a half-day. That is some going even for Pompey.
Tony Meolas Loan Spell
Slut Faced Whores
But they have ZILLIONAIRE owners and Zaha is worth BILLIONS so they will be ok when the bid from Real for £60m comes in the summer.
Glad to clerar it up.
severnside gull
Well-known member
not confirmed yet but surprising if not true given the source.
will it be 10 points or will it be more?
If it was a second administration under FL it would surely be 15 but as the first was when they were technically a PL side they may be treated leniently. If I ran a club who might go down though I think I would make a challenge.
BG - there are restrictions on them signing players under the terms of the last CVA so they need FL permission which they will not get. They could of course play some of the highly rated academy products that they have declined to pay (Australian) clubs for but to date they are in denial that they exist because it would bolster "the smallest squad in the league" and lose them sympathy for being so hard done by
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