Generic clubs in financial crisis Thread

[TFF]

If you want to take action to start improving things then begin by dumping SKY.

Will that feed starving Africans?

[Barry the bird boggler]

Yes because you'll have the opportunity to take the money saved and donate it to Oxfam instead....

[Wax Jacket]

Difference between being a STH and an armchair SKY supporter methinks... If you want to take action to start improving things then begin by dumping SKY.

and miss the cricket? no chance

[Svlad Cjelli]

Breaking News from Portsmouth : Arrest warrant issued for Portsmouth FC owner Vladimir Antonov

Not sure why yet....

[TFF]

In a statement issued to The News, the Lithuanian Prosecutor General’s Office said a request seeking constraint measures to be placed upon Snoras bank shareholders Mr Antonov and Raimond Baranauskas had been granted.

Ruta Dirsiene, spokeswoman for the Prosecutor General’s Office, said: ‘On the same day Prosecutor General Mr D Valys signed European Arrest Warrants issued against these persons.

‘Both former managers of the bank Snoras have been recognised as suspects with regard to misappropriation of property on a large scale and forgery of documents, whereas R Baranauskas is also suspected of fraudulent accounting and abuse of authority.’

Snoras bank, which Mr Antonov is the main shareholder, was placed into administration last week at the request of the Lithuanian Central Bank to evaluate the bank’s financial position.

http://www.portsmouth.co.uk/news/law-an ... _1_3273712

[Barry the bird boggler]

Wonder if Portsmouth are about get into more financial stickyness. Be really good if finally some comeuppance came their way.

[melonhead]

oxf*rd hate children in need- id give some money if it oxf*rd off, and stopped ruining TV for a whole night every year

[Ian Royal]

In a statement issued to The News, the Lithuanian Prosecutor General’s Office said a request seeking constraint measures to be placed upon Snoras bank shareholders Mr Antonov and Raimond Baranauskas had been granted.

Ruta Dirsiene, spokeswoman for the Prosecutor General’s Office, said: ‘On the same day Prosecutor General Mr D Valys signed European Arrest Warrants issued against these persons.

‘Both former managers of the bank Snoras have been recognised as suspects with regard to misappropriation of property on a large scale and forgery of documents, whereas R Baranauskas is also suspected of fraudulent accounting and abuse of authority.’

Snoras bank, which Mr Antonov is the main shareholder, was placed into administration last week at the request of the Lithuanian Central Bank to evaluate the bank’s financial position.

http://www.portsmouth.co.uk/news/law-an ... _1_3273712

How many extremely dodgy owners have Pompey had in the last three years now? Three? Four? Five? Must be just about the easiest place in the world to launder money.

[roadrunner]

In a statement issued to The News, the Lithuanian Prosecutor General’s Office said a request seeking constraint measures to be placed upon Snoras bank shareholders Mr Antonov and Raimond Baranauskas had been granted.

Ruta Dirsiene, spokeswoman for the Prosecutor General’s Office, said: ‘On the same day Prosecutor General Mr D Valys signed European Arrest Warrants issued against these persons.

‘Both former managers of the bank Snoras have been recognised as suspects with regard to misappropriation of property on a large scale and forgery of documents, whereas R Baranauskas is also suspected of fraudulent accounting and abuse of authority.’

Snoras bank, which Mr Antonov is the main shareholder, was placed into administration last week at the request of the Lithuanian Central Bank to evaluate the bank’s financial position.

http://www.portsmouth.co.uk/news/law-an ... _1_3273712

How many extremely dodgy owners have Pompey had in the last three years now? Three? Four? Five? Must be just about the easiest place in the world to launder money.

This is beautiful.

[Who Moved The Goalposts?]

And now the turn of Brizzle...

http://news.bbc.co.uk/sport1/hi/football/15935151.stm

£11.45m loss this year, on top of £11m and £6.5 in previous two years. How on earth are they paying the bills?

[ZacNaloen]

The owner is rich and willing to finance it for now, Smoking Kills Dancing Doe... has the inside track on that. Not that he posts anymore.

[Who Moved The Goalposts?]

And now it looks like Pompey's owners CSI are the subject of insolvency proceedings.

Please let it happen this time!!!

[TFF]

Even if the club doesn't go into admin the parent company having done so means a points deduction is on the way. Can't remember how many though.

[Deadlock]

Ten. Would put them bottom.

[buzzby]

Exactly what happened to their neighbours Southampton.

More here

http://news.bbc.co.uk/sport1/hi/football/15944523.stm

[Alan Partridge]

Well they've cheated before and been bailed out so i'm sure they'll get away with it again.

30 point penalty definite relegation and forced to sell all their high earners they cant' afford would be good.

[Wycombe Royal]

Admin twice in three years should result in their registraton with league being ended. Will the FL have the balls to follow it through though?

[Wax Jacket]

Well they've cheated before and been bailed out so i'm sure they'll get away with it again.

not in the Prem this time though. fingers crossed but got to say I'm as doubtful as anyone

[Who Moved The Goalposts?]

Admin twice in three years should result in their registraton with league being ended. Will the FL have the balls to follow it through though?

I'd love to see this after the total disgrace of the last administration. But at the very least, clubs who show such disregard as Pompey should be more tightly controlled. For example, they should not be able to sign players like Kitson and Lawrence - on 20K+ per week - before the ink on the CVA was dry. There should certainly be limits on what they can and cannot spend for a set period after admin, as, if nothing else, a courtesy to all those just shafted out of 80p for every £ they were owed.

[exileinleeds]

Very interesting reading between the lines re Pompey.

Chairman is arrested on fraud charges relating to asset stripping a bank. CSI (megalolz) claim they are unaffected.

Then within days go into administration. If one were cynical one might wonder if they had been bought with the proceeds of crime/money laundering.

Another interesting paragraph, tagged onto the end of the BBC article:

"Last week Portsmouth's former owners Portpin Ltd re-emerged as an interested party in the club's future after filing a charge at Companies House over the parent company making it a secured creditor over CSI."

So the last lot of crooks* are secured creditors. Once again they will get their money- before anyone else. Including us, dear taxpayer.

One can only hope the ongoing revelations of financial mis-management and fraud remains firmly in the mind of the jury due to sit in January when 2 of Pompeys previous trough-sniffers are in court.

*euphamism for esteemed fit and proper businessmen.