Portsmouth fc

[Ian Royal]

Just put £200 on them to get relegated, at a 10% return this seems like a shrew investment. When they come out of admin they will 14 points adrfit of safety.

I would put more, but then i need some disposable income for a fortnight, when i get paid, when i reckon i'll dump a load more on.

Do you get your stake back if they are wound up and don't finish the season?

Next month they'll be able to celebrate a year in Administration as well.

Isn't there some rule that if you aren't out of Administration within a year you just get kicked out the league?

[Deadlock]

Not sure about League rules, but the Insolvency Act 1986 has this to say:

76(1)The appointment of an administrator shall cease to have effect at the end of the period of one year beginning with the date on which it takes effect.
(2)But—
(a)on the application of an administrator the court may by order extend his term of office for a specified period, and
(b)an administrator’s term of office may be extended for a specified period not exceeding six months by consent

[Ian Royal]

Not sure about League rules, but the Insolvency Act 1986 has this to say:

76(1)The appointment of an administrator shall cease to have effect at the end of the period of one year beginning with the date on which it takes effect.
(2)But—
(a)on the application of an administrator the court may by order extend his term of office for a specified period, and
(b)an administrator’s term of office may be extended for a specified period not exceeding six months by consent

Oh good, so we've got another 7 months of this yet then. Presumably it's liquidation if they fail to sort it out by 18 months after going into administration.

[Alexander Litvinenko]

Don't forget much of the Insolvency Act 1986 was superseded by the Enterprise Act 2002 - not sure if there were any changes to that part, though.

[Deadlock]

Ah, I followed a link from some insolvency practitioner's web site. Depends how dodgy they are as to whether it's still accurate, I suppose.

[frimmers3]

why so much glee over the travails of other football clubs?

[Royal Monk]

Probably something to do with Portsmuff shafting creditors for about £160 million

[Mr Optimist]

British sense of fair play I think, love for queuing, order, and requirement for order. Pumpey go against this.

[Handsome Man]

Portsmouth sent us down as well - not bothering against Fulham because they has spent their way to a cup final on the last day of the season.

[Who Moved The Goalposts?]

Probably something to do with Portsmuff shafting creditors for about £160 million

Indeed. Let's not forget the charity money collected in a bucket that helped to pay player wages (about 10 minutes worth I estimate) and their persistent failure to pay St John ambulance whilst signing players on £70k per week. Or signing players on £20k per week before the ink had dried on the first CVA... Or the somewhat questionable characters in the background trying to find ever more devious ways of getting their hands on the parachute money.

Paragon of virtue, that club.

[Ian Royal]

Probably something to do with Portsmuff shafting creditors for about £160 million

Indeed. Let's not forget the charity money collected in a bucket that helped to pay player wages (about 10 minutes worth I estimate) and their persistent failure to pay St John ambulance whilst signing players on £70k per week. Or signing players on £20k per week before the ink had dried on the first CVA... Or the somewhat questionable characters in the background trying to find ever more devious ways of getting their hands on the parachute money.

Paragon of virtue, that club.

But most importantly, that cock with the bell.

[frimmers3]

and swindon?

[SPARTA]

and swindon?

Generic clubs in financial crisis Thread

[AthleticoSpizz]

Sam Sodje on loan

[Divvy]

Where's been this last few years? Shocker of a defender.

[GreaterTorontoRoyal]

:lol:

Where's been this last few years? Shocker of a defender.

He was released by Notts County in May. Can't be a loan as he is a free agent.

[SPARTA]

SSN running a story that the football league will throw Portsmouth out of the league if they don't exit administration by the summer. Greg Clarke says they're in the "last chance saloon" and the fans group have been given every opportunity to buy the club. He believes there is a very strong possibility that a 10 point deduction will be implemented when all takeover is put forward. More lives than a fcuking cat!

[Royal Monk]

The 10 point deduction will take place when the club comes out of administration.

[soggy biscuit]

Lost at home to bottom of the table Hartlepool

[Tony Le Mesmer]

The 10 point deduction will take place when the club comes out of administration.

Unless they go into admin after the March cut off date. In which case it will be deferred til next season if (they would have gone down anyway without the -10)