Portsmouth Admin

[brendywendy]

Ok, its not rocket science.

Why did Porstmouth not sell, say, David James and any other players of value that got you there to pay the people and other football clubs that you owe?

Well, evidently it IS rocket science for you.

I am sure you are aware that in order for a football club to continue to play it needs a goalkeeper.

Pompey had 2 goalkeepers - David James and Asmir Begovic. ASmire Begovic was attracting offers of 4m and Jamo 2m. Best deal for creditors = sell begovic.

Next question.

What about Ashdown, or even Neimi? How about a few youth and reserve team keepers like those that other clubs have to turn to when they can't afford another one.

I'm surprised to hear that fans of other clubs don't have a dislike for the way Pompey have gone about things over the few years. Maybe it's because they haven't had to put up with the 'we're a big club' bollocks from them for so long? Personally I think they do moan about it, just like they did with Leicester when they did a similar thing, but you just haven't realised it yet!

i for one cannot believe that anthony niemi hasnt recieved his scotland call up yet

[Barry the bird boggler]

No problem with the majority of Portsmouth fans, just a got a problem with clubs as a whole living well beyond their means and when the time comes for reckoning they get away with it due to being able to settle debts for some paltry figure in the pound rather then being liquidated like any other normal business would have been.

I still hope that the HMRC appeal and overturn the CVA.

And further to all this its the 2nd time Pompey have been in this situation in 10 years which is even more reason to make a prime example of the club.

If the HMRC don't overturn the CVA then Pompey will have got away with it, to my mind, just as many others have before them - and no doubt many others after them.

Mind you at least their parachute payments would already be spent....

[kieran]

Where do you get the idea that I am clinging on to an idea of a new owner making everything better?

The below post you made gave me a little clue that way :

Looks like they will be gone soon anyway as there maybe some Ukrainian business man on the horizon. Hopefully they will be a little more reliable

So, hoping for a reliable owner is suddenly asking for them to fix everything is it?

Are you really saying I should NOT be hoping for a reliable owner?

[brendywendy]

i think its the fact that you are still looking for some foreign sugar daddy to come and bankroll your team in purely selfless fashion thats making some on here question your sanity.


perhaps you should consider just running the club by spending only the money you generate from gate receipts and player sales,
you know, like a proper business

[Dirk Gently]

Where do you get the idea that I am clinging on to an idea of a new owner making everything better?

The below post you made gave me a little clue that way :

Looks like they will be gone soon anyway as there maybe some Ukrainian business man on the horizon. Hopefully they will be a little more reliable

So, hoping for a reliable owner is suddenly asking for them to fix everything is it?

Are you really saying I should NOT be hoping for a reliable owner?

From what I know about the situation (which I think is quite a lot) I wonder what would be the attraction of Pompey for any foreigner owner - why on earth would they come in to a club which is such a financial basket-case, unless it was to asset-strip what's left?

The best hope, surely, is for someone local who cares, or a supporter-ownership consortium? I can't understand why you can hope the next unknown foreigner appearing over the horizon should suddenly be reliable when the last few have been so disastrous.

[kieran]

What about Ashdown, or even Neimi? How about a few youth and reserve team keepers like those that other clubs have to turn to when they can't afford another one.

I'm surprised to hear that fans of other clubs don't have a dislike for the way Pompey have gone about things over the few years. Maybe it's because they haven't had to put up with the 'we're a big club' bollocks from them for so long? Personally I think they do moan about it, just like they did with Leicester when they did a similar thing, but you just haven't realised it yet!

i for one cannot believe that anthony niemi hasnt recieved his scotland call up yet[/quote]

Ashdown - injured.
Niemi - contract cancelled as he was costing too much.

As for other fans opinion of Pompey. We were voted best Prem fans for 7 out of 8 seasons including last year. So moost dont have the problem with the fans like you all seem to either. Pompey fans I know dont think we are a massive club. I certainly dont. We are simply on a par with many clubs, such as Leicester, Saints, Coventry, Sheff U (I think theyre bigger though), Palace, West Brom, Brum, Bolton, Blackburn etc. Although most have managed to develop stadia which is more a mark of a reliable council than the size of a club.

[brendywendy]

What about Ashdown, or even Neimi? How about a few youth and reserve team keepers like those that other clubs have to turn to when they can't afford another one.

I'm surprised to hear that fans of other clubs don't have a dislike for the way Pompey have gone about things over the few years. Maybe it's because they haven't had to put up with the 'we're a big club' bollocks from them for so long? Personally I think they do moan about it, just like they did with Leicester when they did a similar thing, but you just haven't realised it yet!

i for one cannot believe that anthony niemi hasnt recieved his scotland call up yet

Ashdown - injured.
Niemi - contract cancelled as he was costing too much.

As for other fans opinion of Pompey. We were voted best Prem fans for 7 out of 8 seasons including last year. So moost dont have the problem with the fans like you all seem to either. Pompey fans I know dont think we are a massive club. I certainly dont. We are simply on a par with many clubs, such as Leicester, Saints, Coventry, Sheff U (I think theyre bigger though), Palace, West Brom, Brum, Bolton, Blackburn etc. Although most have managed to develop stadia which is more a mark of a reliable council than the size of a club.

[/quote]

lol at on a par with west brom, bolton and brum.
not any more lad.

you also confuse fans with club. most of the prem fans who voted are just excited to see fans who clap and chant for the whole game.
if you asked them if they liked the club, and wanted them to stay in the prem despite being bankrupt andf cheating to stay in th eprem all these years youd get a different answer

[kieran]

From what I know about the situation (which I think is quite a lot) I wonder what would be the attraction of Pompey for any foreigner owner - why on earth would they come in to a club which is such a financial basket-case, unless it was to asset-strip what's left?

The best hope, surely, is for someone local who cares, or a supporter-ownership consortium? I can't understand why you can hope the next unknown foreigner appearing over the horizon should suddenly be reliable when the last few have been so disastrous.

I am biased, but I can see SOME attraction.

There are over 350,000 people living in the area. There are more than 42,000 people on the PFC database who "proclaim" to support Pompey (where the hell were they at Bolton last season?)

A decent squad still exisits, add to that with say 5m worth of player loans, freebies etc. and you MAY have a team worthy of promotion.

Thats a failry small gamble for fairly decent returns.

Of course, I dont want this as this would be somebody that is just in it for a quick buck again. But I do fear it could happen.

As you say a more stable relaible owner willing to help build infastructure if preferred

[Dirk Gently]

From what I know about the situation (which I think is quite a lot) I wonder what would be the attraction of Pompey for any foreigner owner - why on earth would they come in to a club which is such a financial basket-case, unless it was to asset-strip what's left?

The best hope, surely, is for someone local who cares, or a supporter-ownership consortium? I can't understand why you can hope the next unknown foreigner appearing over the horizon should suddenly be reliable when the last few have been so disastrous.

I am biased, but I can see SOME attraction.

There are over 350,000 people living in the area. There are more than 42,000 people on the PFC database who "proclaim" to support Pompey (where the hell were they at Bolton last season?)

A decent squad still exisits, add to that with say 5m worth of player loans, freebies etc. and you MAY have a team worthy of promotion.

Thats a failry small gamble for fairly decent returns.

Of course, I dont want this as this would be somebody that is just in it for a quick buck again. But I do fear it could happen.

As you say a more stable relaible owner willing to help build infastructure if preferred

Yes, but you really do need the infrastructure to exploit it, since the PL crowds have been shown to be fickle (as at all clubs) - you need a new ground and promotion to exploit that potential, and you have the same problem that Brighton had in terms of ground relocation (and also catchment area) - you can only go North, there is nothing to the South. Still, there should be a lot more brownfield site potential in Portsmouth than in Brighton.

But the question is just how damaged, finacially, are you right now, for any investor. The HMRC appeal may well succeed (they are throwing all their legal resources at this as they see it as a test case of the Football Creditors rule) or if it doesn't it may well create a delay to coming out of the CVA, which means a further points deduction. That can't be a good prospect.

[Hoop Blah]

Ashdown - injured.
Niemi - contract cancelled as he was costing too much.

Niemi left in March didn't he? He was your 4th senior keeper right and cost you £.5m for the season and didn't contribute at all? That's kind of the point isn't it?

James, Ashdown, Begovic and Niemi. When we were in the Premiership we had Hahnemann backed up by Federici because we were living within our means.

So when was Ashdown injured because he was playing before Niemi left, and by then you had this O'Brien fella on the bench (so that's a 5th keeper on the books, albeit a kid), and before he was in the side he was sat on the bench for the whole of January and February!!!!

[kieran]

Yes, but you really do need the infrastructure to exploit it, since the PL crowds have been shown to be fickle (as at all clubs) - you need a new ground and promotion to exploit that potential, and you have the same problem that Brighton had in terms of ground relocation (and also catchment area) - you can only go North, there is nothing to the South. Still, there should be a lot more brownfield site potential in Portsmouth than in Brighton.

But the question is just how damaged, finacially, are you right now, for any investor. The HMRC appeal may well succeed (they are throwing all their legal resources at this as they see it as a test case of the Football Creditors rule) or if it doesn't it may well create a delay to coming out of the CVA, which means a further points deduction. That can't be a good prospect.

Couldnt agree with you more re the infrastructure.

Who knows how damaged we are financially. It could be a long road back, but it could be fun and we may not make it back. At the end of the day I have had a great time supporting Pompey, I cannot and do not complain. I am lucky enough to have been born in to a club that usually refuses to hoof and one that supporting is good fun as its usually really noisy. I cant ask for more.

Regarding everyone wanting the HMRC to challenge in order to get tax payers money back (which I totally agree with). If HMRC appeal and overhrow the CVA (20p in the £) then I am assuming the club will be liquidated. In that case I think the tax payer will be getting virtually nothing back. The HMRC must know this.

[kieran]

[/quote]lol at on a par with west brom, bolton and brum.
not any more lad.[quote]

Current team might not be on a par, but club will always be.

Lets find out about the fans shall we.?

Lets find an independant board of a club and ask them your question. We can then ask another completely different club's forum if they miss Reading and would like them back in the Prem. We wont get many replies but it would be a good indication.

I say lets compare with Reading as you are all intimating that your frugal approach has won so many plaudits against Pompey's, frankly, ridiculous approach. Lets see.

My guess is most would prefer Pompey back. Prepared to be proven wrong though. Lets deal in facts.

When I was accused of inflating Pompey's attendance, honours, all time leagues status etc against Reading, I provided the figures. Lets get the figures for this then?

[Stranded]

Yes, but you really do need the infrastructure to exploit it, since the PL crowds have been shown to be fickle (as at all clubs) - you need a new ground and promotion to exploit that potential, and you have the same problem that Brighton had in terms of ground relocation (and also catchment area) - you can only go North, there is nothing to the South. Still, there should be a lot more brownfield site potential in Portsmouth than in Brighton.

But the question is just how damaged, finacially, are you right now, for any investor. The HMRC appeal may well succeed (they are throwing all their legal resources at this as they see it as a test case of the Football Creditors rule) or if it doesn't it may well create a delay to coming out of the CVA, which means a further points deduction. That can't be a good prospect.

Couldnt agree with you more re the infrastructure.

Who knows how damaged we are financially. It could be a long road back, but it could be fun and we may not make it back. At the end of the day I have had a great time supporting Pompey, I cannot and do not complain. I am lucky enough to have been born in to a club that usually refuses to hoof and one that supporting is good fun as its usually really noisy. I cant ask for more.

Regarding everyone wanting the HMRC to challenge in order to get tax payers money back (which I totally agree with). If HMRC appeal and overhrow the CVA (20p in the £) then I am assuming the club will be liquidated. In that case I think the tax payer will be getting virtually nothing back. The HMRC must know this.

The HMRC may see there being more value in the sale of the assets from the liquidated company than the 20p in the £ currently offered.

[Hoop Blah]

Lets deal in facts.

We only had 2 keepers

2 keepers....but still only 1 song!

[PieEater]

I thought the 20p payment was actually spread over 5 years, so today they won't be getting as much as they can by selling the assets. In 5 years time, what's to say Pompey won't have racked up a shedload of more debt.

[Row Z Royal]

Yes, but you really do need the infrastructure to exploit it, since the PL crowds have been shown to be fickle (as at all clubs) - you need a new ground and promotion to exploit that potential, and you have the same problem that Brighton had in terms of ground relocation (and also catchment area) - you can only go North, there is nothing to the South. Still, there should be a lot more brownfield site potential in Portsmouth than in Brighton.

But the question is just how damaged, finacially, are you right now, for any investor. The HMRC appeal may well succeed (they are throwing all their legal resources at this as they see it as a test case of the Football Creditors rule) or if it doesn't it may well create a delay to coming out of the CVA, which means a further points deduction. That can't be a good prospect.

Couldnt agree with you more re the infrastructure.

Who knows how damaged we are financially. It could be a long road back, but it could be fun and we may not make it back. At the end of the day I have had a great time supporting Pompey, I cannot and do not complain. I am lucky enough to have been born in to a club that usually refuses to hoof and one that supporting is good fun as its usually really noisy. I cant ask for more.

Regarding everyone wanting the HMRC to challenge in order to get tax payers money back (which I totally agree with). If HMRC appeal and overhrow the CVA (20p in the £) then I am assuming the club will be liquidated. In that case I think the tax payer will be getting virtually nothing back. The HMRC must know this.

The HMRC may see there being more value in the sale of the assets from the liquidated company than the 20p in the £ currently offered.

And also more value in money recovered in cases that follow this precedent.

[kieran]

Lets deal in facts.

We only had 2 keepers

2 keepers....but still only 1 song!

One of the most famous and oldest songs in British football.

[Dirk Gently]

Yes, but you really do need the infrastructure to exploit it, since the PL crowds have been shown to be fickle (as at all clubs) - you need a new ground and promotion to exploit that potential, and you have the same problem that Brighton had in terms of ground relocation (and also catchment area) - you can only go North, there is nothing to the South. Still, there should be a lot more brownfield site potential in Portsmouth than in Brighton.

But the question is just how damaged, finacially, are you right now, for any investor. The HMRC appeal may well succeed (they are throwing all their legal resources at this as they see it as a test case of the Football Creditors rule) or if it doesn't it may well create a delay to coming out of the CVA, which means a further points deduction. That can't be a good prospect.

Couldnt agree with you more re the infrastructure.

Who knows how damaged we are financially. It could be a long road back, but it could be fun and we may not make it back. At the end of the day I have had a great time supporting Pompey, I cannot and do not complain. I am lucky enough to have been born in to a club that usually refuses to hoof and one that supporting is good fun as its usually really noisy. I cant ask for more.

Regarding everyone wanting the HMRC to challenge in order to get tax payers money back (which I totally agree with). If HMRC appeal and overhrow the CVA (20p in the £) then I am assuming the club will be liquidated. In that case I think the tax payer will be getting virtually nothing back. The HMRC must know this.

The HMRC may see there being more value in the sale of the assets from the liquidated company than the 20p in the £ currently offered.

Alternatively, HMRC may be looking at the big picture and playing the long game. They see that winning a ruling which sees the Football Creditors rule scrapped (or at least massively amended) will gain them a whole lot more money in the long term from all the other football club administrations that happen in future than they stand to win/lose from just Pompey.

[kieran]

Yes, but you really do need the infrastructure to exploit it, since the PL crowds have been shown to be fickle (as at all clubs) - you need a new ground and promotion to exploit that potential, and you have the same problem that Brighton had in terms of ground relocation (and also catchment area) - you can only go North, there is nothing to the South. Still, there should be a lot more brownfield site potential in Portsmouth than in Brighton.

But the question is just how damaged, finacially, are you right now, for any investor. The HMRC appeal may well succeed (they are throwing all their legal resources at this as they see it as a test case of the Football Creditors rule) or if it doesn't it may well create a delay to coming out of the CVA, which means a further points deduction. That can't be a good prospect.

Couldnt agree with you more re the infrastructure.

Who knows how damaged we are financially. It could be a long road back, but it could be fun and we may not make it back. At the end of the day I have had a great time supporting Pompey, I cannot and do not complain. I am lucky enough to have been born in to a club that usually refuses to hoof and one that supporting is good fun as its usually really noisy. I cant ask for more.

Regarding everyone wanting the HMRC to challenge in order to get tax payers money back (which I totally agree with). If HMRC appeal and overhrow the CVA (20p in the £) then I am assuming the club will be liquidated. In that case I think the tax payer will be getting virtually nothing back. The HMRC must know this.

The HMRC may see there being more value in the sale of the assets from the liquidated company than the 20p in the £ currently offered.

From what I know, they would be miscalculating. Hopefully, that is something they dont do too often.

[kieran]

Alternatively, HMRC may be looking at the big picture and playing the long game. They see that winning a ruling which sees the Football Creditors rule scrapped (or at least massively amended) will gain them a whole lot more money in the long term from all the other football club administrations that happen in future than they stand to win/lose from just Pompey.

Maybe, I am not sure on the figures though and of course I am biased.

If they were to liquidate then they would not be receiving the 24m owed or any future taxes from Pompey. Of that I am sure.

The football creditors rule imo is fundamentally wrong. I jhope they do get it changed