Generic clubs in financial crisis Thread

[Stranded]

Administration has to be a near certainty, and they already look nailed on for relegation. Presumably this means the points deduction is carried over and they start next season at -10 points.

Does anyone know if this is def the case? being that they would be moving from the Prem to the league?

I think it's all about the date a club goes into Administration. The FL's rules are that if you go into administration before the transfer deadline (4th Tuesday in March) then you get the points deduction in that season -if after that date then it's in the next season. That's the FL's rules, not sure if the PL have adopted the same dates.

What IR is missing is that there is a large debt here to HMRC, who will almost certainly not be paid off in full - and they have a policy of opposing any suggested football CVA as they oppose the football creditors rule.

So as well as -10 points sooner rather than later, Portsmouth are likely to cop an extra -15 points when they try to come out of Administration. If they can, that is - their debts are so immense that it may be that they're not worth trying to save.

Didn't the FL change it so that if a club is relegated then the penalty is held over until the next season but if they are outside the relegation zone they have it dealt that season - that may be after the March deadline though (or indeed scrapped).

[Comfortably Numb]

Administration has to be a near certainty, and they already look nailed on for relegation. Presumably this means the points deduction is carried over and they start next season at -10 points.

Does anyone know if this is def the case? being that they would be moving from the Prem to the league?

I think it's all about the date a club goes into Administration. The FL's rules are that if you go into administration before the transfer deadline (4th Tuesday in March) then you get the points deduction in that season -if after that date then it's in the next season. That's the FL's rules, not sure if the PL have adopted the same dates.

What IR is missing is that there is a large debt here to HMRC, who will almost certainly not be paid off in full - and they have a policy of opposing any suggested football CVA as they oppose the football creditors rule.

So as well as -10 points sooner rather than later, Portsmouth are likely to cop an extra -15 points when they try to come out of Administration. If they can, that is - their debts are so immense that it may be that they're not worth trying to save.

i thought it was 8 points deductions in the pl

[Dirk Gently]

Sorry - typed in a hurry this morning. It's actually -9 in the PL.

[wolsey]

Purely theoretical, but, assuming that Portsmouth are still around next season would the Football League be under any obligation to admit them if they were still in administration or hadn't arranged a satisfactory CVA?

[Dirk Gently]

Purely theoretical, but, assuming that Portsmouth are still around next season would the Football League be under any obligation to admit them if they were still in administration or hadn't arranged a satisfactory CVA?

Tehniclly, perhaps not, but I can't see any way in which they'd not accept them. It would lead to almost-open warfare with the FA & PL, which is the last thing they'd want - and considering the number of basketcase clubs they've allowed to drop into the Conference it woul;d be the ultimate in hypocrisy!

The worst they'd do is give Pompey a 3 or 4 year "spelll of excution" in which they had to sort themselves out - but as the FL's own rules on financial governance aren't fully defined yet they've not got any defined standards yet fo Pompey to meet.

[PieEater]

Does that mean that Palace might get hit with another points deduction this season if they don't get a CVA?

[Ian Royal]

Administration has to be a near certainty, and they already look nailed on for relegation. Presumably this means the points deduction is carried over and they start next season at -10 points.

Does anyone know if this is def the case? being that they would be moving from the Prem to the league?

I think it's all about the date a club goes into Administration. The FL's rules are that if you go into administration before the transfer deadline (4th Tuesday in March) then you get the points deduction in that season -if after that date then it's in the next season. That's the FL's rules, not sure if the PL have adopted the same dates.

What IR is missing is that there is a large debt here to HMRC, who will almost certainly not be paid off in full - and they have a policy of opposing any suggested football CVA as they oppose the football creditors rule.

So as well as -10 points sooner rather than later, Portsmouth are likely to cop an extra -15 points when they try to come out of Administration. If they can, that is - their debts are so immense that it may be that they're not worth trying to save.

And probably get another penalty for failing to get a CVA (?).

Not missing anything as simple as that beauty. Didn't know it was 15 points though.

Hopefully Pompey can either go bust, or hang on 'til April before going into administration and begin next season with -24/25 points depending on whether the PL or FL deduction counts - presumably FL as they'll be in the FL at that point.

[Stranded]

Pompey "confident" they can strike a deal with HMRC today.

[Uke]

Pompey "confident" they can strike a deal with HMRC today.

Weren't they as "confident" last time?

[Barry the bird boggler]

They have money from recent sales they can offer up to HRMC so my guess is that they'll manage to get away with it...

[Comfortably Numb]

They have money from recent sales they can offer up to HRMC so my guess is that they'll manage to get away with it...

a lesser club would be binned, but pompey will get away with it. at least relegation seems certain. i only hope the points deduction carries into nexr season and fcks them up further.

[Tony Le Mesmer]

West Ham facing Meltown if they are relegated according to their new owners.

They have yet to play any of the top5 away, so no pressure on their homes games then.

[Dirk Gently]

Anyone want to buy Palace? Their Administartor has placed the below advert today .....

On instructions of the Joint Administrators, B Guilfoyle, C White and J Russell:
FOOTBALL CLUB FOR SALE
Crystal Palace F.C. (2000) Limited

The sale of the football club and its associated assets presents an opportunity to acquire a long established South London club (founded in 1905) currently playing in the Championship division of the Football League and currently enjoying success in the FA Cup (next match against Aston Villa in the fifth round).

http://www.cpfc.co.uk/staticFiles/a7/48/0,,10323~149671,00.pdf

[Uke]

Anyone want to buy Palace? Their Administartor has placed the below advert today .....

On instructions of the Joint Administrators, B Guilfoyle, C White and J Russell:
FOOTBALL CLUB FOR SALE
Crystal Palace F.C. (2000) Limited

The sale of the football club and its associated assets presents an opportunity to acquire a long established South London club (founded in 1905) currently playing in the Championship division of the Football League and currently enjoying success in the FA Cup (next match against Aston Villa in the fifth round).

http://www.cpfc.co.uk/staticFiles/a7/48/0,,10323~149671,00.pdf

Except about week ago there were a string of people supposed to be interested in buying an already lined up...

[Silver Fox]

Ron Noades? That would really twist the stake in Jordan

[Dirk Gently]

Certainly would. Interesting, a few years ago Simon Jordan was promising supporters that he now owned Selhurt Park. But this advert says : 26,300 capacity stadium at Selhurst Park held by way of a 25 year lease from April 2008;

[Baines]

Certainly would. Interesting, a few years ago Simon Jordan was promising supporters that he now owned Selhurt Park. But this advert says : 26,300 capacity stadium at Selhurst Park held by way of a 25 year lease from April 2008;

It also says "Stadium Freehold available" - to me that suggests that CP(lol)FC 2000 Ltd has an option to purchase the freehold at some point during the lease, which would be consistent with Jordan's statement that he owned the ground.

In contrast, it refers to the training facilities as being held under a lease, but there is no reference to the freehold for the training facilities being available.

[Silver Fox]

Certainly would. Interesting, a few years ago Simon Jordan was promising supporters that he now owned Selhurt Park. But this advert says : 26,300 capacity stadium at Selhurst Park held by way of a 25 year lease from April 2008;

A Palace fan friend told me that when Noades was selling a friend of Jordan's went undercover on his behalf as Noades said he wouldn't sell to SJ. The ruse was sussed though so Jordan never got the ground, apparently. Don't know the ownership now but apparently not Noades.

[readingbedding]

http://www.joinmust.org/forum/showthread.php?t=52110

[Terminal Boardom]

Talks between PoROFLtsmouth and the Inland Revenue have "stalled".