Portsmouth Admin

[soggy biscuit]

The Premier League have confirmed Portsmouth must pay Tottenham £1million for the failed transfer of goalkeeper Asmir Begovic.

The south coast club owe Spurs the fee after the proposed joint transfer of Younes Kaboul and Begovic to White Hart Lane fell through and the latter instead chose to join Stoke.

[Geekins]

The Premier League have confirmed Portsmouth must pay Tottenham £1million for the failed transfer of goalkeeper Asmir Begovic.

The south coast club owe Spurs the fee after the proposed joint transfer of Younes Kaboul and Begovic to White Hart Lane fell through and the latter instead chose to join Stoke.

LOVE THIS SO SO MUCH!

[TFF]

The Premier League have confirmed Portsmouth must pay Tottenham £1million for the failed transfer of goalkeeper Asmir Begovic.

The south coast club owe Spurs the fee after the proposed joint transfer of Younes Kaboul and Begovic to White Hart Lane fell through and the latter instead chose to join Stoke.

LOVE THIS SO SO MUCH!

I would love to LOL but that's just £1M less for the non-football creditors so

[Jackson Corner]

Kitson, Hughes, Nugent, Sonko, Ashdown, Lawrence, Kanu. For a club in crisis they have some decent players not to mention a good manager!

[roadrunner]

Kitson, Hughes, Nugent, Sonko, Ashdown, Lawrence, Kanu. For a club in crisis they have some decent players not to mention a good manager!

Good manager? Very average manager with a very average team of has-been's.

[Far from the royal crowds]

Portsmouth now complaining that another football team hasn't paid them.

http://news.bbc.co.uk/sport2/hi/footbal ... 028698.stm

Portsmouth have made a complaint to the Football Association and the Italian Federation over non-payment of money for Kevin-Prince Boateng's transfer.
A fee of £5m was agreed with Genoa for the 23-year-old midfielder, who was subsequently loaned out to AC Milan.
"Genoa were due to pay the first instalment two weeks ago," said the Championship side's administrator Andrew Andronikou.
"We've been listening to excuses. We've had enough."
He added that Pompey, who have amassed debts of over £120m, were due the second of their four instalments in about a week.
"We complained last week on the 15th and got a response saying 'sorry, we mistook your bank details'," said Andronikou. "A week later, it doesn't look like the cheque has even hit the post."

[Stranded]

Good old double standards!!

[Fox Talbot]

"We've been listening to excuses. We've had enough."

Lovely stuff. Hypocrisy that just takes your breath away. This administrator bloke is about as balanced as Chemical Ali or he's having a laugh.

[Deadlock]

This sounds familiar...

... a king wanted to settle accounts with his servants. As he began the settlement, a man who owed him ten thousand talents was brought to him. Since he was not able to pay, the master ordered that he and his wife and his children and all that he had be sold to repay the debt.

The servant fell on his knees before him. ‘Be patient with me,’ he begged, ‘and I will pay back everything.’ The servant’s master took pity on him, cancelled the debt and let him go.

But when that servant went out, he found one of his fellow servants who owed him a hundred denarii. He grabbed him and began to choke him. ‘Pay back what you owe me!’ he demanded.

His fellow servant fell to his knees and begged him, ‘Be patient with me, and I will pay you back.’

But he refused. Instead, he went off and had the man thrown into prison until he could pay the debt. When the other servants saw what had happened, they were greatly distressed and went and told their master everything that had happened.

Then the master called the servant in. ‘You wicked servant,’ he said, ‘I cancelled all that debt of yours because you begged me to. Shouldn’t you have had mercy on your fellow servant just as I had on you?’ In anger his master turned him over to the jailers to be tortured, until he should pay back all he owed.

[PlasticRoyale]

This sounds familiar...

... a king wanted to settle accounts with his servants. As he began the settlement, a man who owed him ten thousand talents was brought to him. Since he was not able to pay, the master ordered that he and his wife and his children and all that he had be sold to repay the debt.

The servant fell on his knees before him. ‘Be patient with me,’ he begged, ‘and I will pay back everything.’ The servant’s master took pity on him, cancelled the debt and let him go.

But when that servant went out, he found one of his fellow servants who owed him a hundred denarii. He grabbed him and began to choke him. ‘Pay back what you owe me!’ he demanded.

His fellow servant fell to his knees and begged him, ‘Be patient with me, and I will pay you back.’

But he refused. Instead, he went off and had the man thrown into prison until he could pay the debt. When the other servants saw what had happened, they were greatly distressed and went and told their master everything that had happened.

Then the master called the servant in. ‘You wicked servant,’ he said, ‘I cancelled all that debt of yours because you begged me to. Shouldn’t you have had mercy on your fellow servant just as I had on you?’ In anger his master turned him over to the jailers to be tortured, until he should pay back all he owed.

tbf one is real and the other a work of fiction

[SpaceCruiser]

I hope you're not calling the Portsmouth story a fiction.

[Username:]

only 4 subs named today as well

Portsmouth: Ashdown, Ward, Mokoena, Rocha, Dickinson, Lawrence, Mullins, Brown, Utaka, Nugent, Kitson. Subs: Flahavan, Ciftci, Sonko, Kanu.

[Royal With Cheese]

Only 4 subs but 6 goals.

[Big Foot]

Kitson, stop it!!!

[Tony Le Mesmer]

Pompey back on the brink again according to this.

http://www.express.co.uk/posts/view/205 ... tion-again

[TFF]

Pompey back on the brink again according to this.

http://www.express.co.uk/posts/view/205 ... tion-again

It does seem a little strange that the football authorities are refusing to accept the £15M (secured debt if I understand correctly) that the courts allowed when granting the CVA.

I'd actually rather see them survive now, preferably getting relegated again.

[Geekins]

Pompey back on the brink again according to this.

http://www.express.co.uk/posts/view/205 ... tion-again

Wish Pompey would FOAD!

[Barry the bird boggler]

Pompey back on the brink again according to this.

http://www.express.co.uk/posts/view/205 ... tion-again

Wish Pompey would FOAD!

PORTSMOUTH ON BRINK OF ADMINISTRATION AGAIN

Friday October 15,2010
By Peter White EXCLUSIVE PORTSMOUTH could go out of business by next Monday after the Football League refused to sanction the club’s move out of administration.

Administrator Andrew Andronikou delivered a severe warning that the surprise decision, taken at the league’s monthly board meeting, has pushed the Championship outfit to the brink of extinction.

The league have refused to lift the administration restrictions until Portpin, the company owned by prospective purchaser Balram Chainrai, have given up their security, believed to be in the region of £15million.

Chainrai is the only potential buyer and, if he pulls out, the doors at Fratton Park could be slammed shut forever soon after tomorrow’s home game against Watford.

“The league are saying Portpin have to waive their securities in favour of the Company Voluntary Arrangement (CVA) payments, which is never going to happen in a million years,” said a frustrated Andronikou.

“It is rather like in the Liverpool situation for the Premier League to ask the Royal Bank of Scotland to waive its £280million. There is absolutely no difference in the two scenarios.

“The league know the situation we are in. We have no cash flow, and as administrators we cannot continue to trade with thin air. They have put us in a position where it is virtually impossible to keep trading as a club.

“I get the feeling that the Football League and Premier League are either completely naive or they are telling us to shut Portsmouth Football Club.

“The Football League know Mr Chainrai, he has been vetted by them and they are happy with him. They also have an undertaking from him to provide £5m to the club. In the past they have asked for everything from the purchaser – now they have asked for one thing too many.”

A league statement read: “As with any club that goes into administration, the Football League are focused on ensuring that any takeover delivers a sustainable future for the club that is fair to creditors and fans of all clubs. This is what our requirements in this case aim to achieve.” Andronikou will inform Chainrai of the league’s decision today, and fully expects the Hong Kong businessman to end his interest in buying Pompey.

Chainrai has already made it clear he only wants the club short-term to try to restore stability, and then sell it on to someone with long-term plans for the club. But the bleak prospect is that Pompey, founded in 1898, may have only days left before being forced out of business.

“The only thing I can see now is for the purchaser to reject the Football League demands and walk away, and if he has anyone advising him, then I am sure that is what they will say,” said Andronikou. “Why would anyone want to buy the club under these circumstances?

“If the Football League want us to close the club I wish they were more direct in their approach, and just tell us to do it. I am not going to continue in this situation, and it is not a case of ‘will not’ it is more a case of ‘cannot’.

“We cannot trade into next month. By the end of this month we will not have sufficient funds to pay wages. There is no one else out there prepared to buy the club and provide the working capital to keep us going and satisfy these impossible terms.

[Wycombe Royal]

We have had to push out the boat for Kitson and Lawrence. Their wages are £19,000 and £20,000 but it was something we are comfortable with. Gone are the days when extraordinary pay packets put the club in financial trouble.

We cannot trade into next month. By the end of this month we will not have sufficient funds to pay wages. We have no cash flow, and as administrators we cannot continue to trade with thin air.

What a clown.

[Hoop Blah]

Surely he should be struck off, de-barred or whatever the bean counting equivalinet is for this total mismanagement.

Would fraud be over stating it? There must be some form of accountability for these people.