Generic clubs in financial crisis Thread

[Dirk Gently]

Sky News about the green and gold protest : http://www.youtube.com/watch?v=lan---HN-8Y

There's moving money about and there's taking money out!

[leww_rfc]

Sky News about the green and gold protest : http://www.youtube.com/watch?v=lan---HN-8Y

There's moving money about and there's taking money out!

150 million pound is a large sum of money

Captain obvious!!

[Royal With Cheese]

Am I the only one finding it slightly ironic that a southerner is agruing the case that Man United are a community club?

[wolsey]

Looks like HMRC aren't going to let go of Portsmouth easily.

http://www.dailymail.co.uk/sport/football/article-1254678/Portsmouth-set-new-High-Court-hearing-HMRC-challenge-voluntary-administration.html


Portsmouth must return to the High Court tomorrow after Her Majesty's Revenue and Customs challenged their voluntary administration.
Andrew Andronikou, the administrator in charge of the stricken Barclays Premier League club, was informed of the latest development today.
Despite uncertainty over the nature of HMRC's objection, Andronikou is confident Portsmouth will continue down the route of administration as planned.

'We're having to go to court to show that the debenture is valid,' he said. 'I don't understand the exact reason why this is, we're just following normal protocol. We're not unduly worried.
'It's not standard procedure but I'd imagine that HMRC are basically crossing their Is and dotting their Ts.
'We're expecting the administration to proceed as it was.'

[Maquisard]

Andrew Andronikou, the administrator in charge ... "I'd imagine that HMRC are basically crossing their Is and dotting their Ts."

is he making a snide attack on HMRC or is he just illiterate?

[wolsey]

Andrew Andronikou, the administrator in charge ... "I'd imagine that HMRC are basically crossing their Is and dotting their Ts."

is he making a snide attack on HMRC or is he just illiterate?

Good point - wasn't that impressed in his Press Conference: seemed to be from the same school of Bullshit/mindless optimism as most of those that preceded him at Portsmouth.

Plus I don't think that HMRC will contest the Administration for the sheer hell of it.

[leww_rfc]

LOL @ http://www.skybet.com/skybet?action=GoEvType&id=10001703&aff=1572&SS_FB_Betlink

[Dirk Gently]

Andrew Andronikou, the administrator in charge ... "I'd imagine that HMRC are basically crossing their Is and dotting their Ts."

is he making a snide attack on HMRC or is he just illiterate?

Good point - wasn't that impressed in his Press Conference: seemed to be from the same school of Bullshit/mindless optimism as most of those that preceded him at Portsmouth.

Plus I don't think that HMRC will contest the Administration for the sheer hell of it.

He's the same guy who handled Swindon's administration and Swindon supporters were less than impressed with how he handled it.

[Silver Fox]

He's got a serious touch of the comical Ali's about him

I'm not quite sure how his tactic of saying they have buyers lined up but they can't confirm if they have any money just yet is going to impress the court

[Uke]

Andrew Andronikou, the administrator in charge ... "I'd imagine that HMRC are basically crossing their Is and dotting their Ts."

is he making a snide attack on HMRC or is he just illiterate?

Yes, it's so unfair the taxman being so thorough isn't it?

[Franchise FC]

Andrew Andronikou, the administrator in charge ... "I'd imagine that HMRC are basically crossing their Is and dotting their Ts."

is he making a snide attack on HMRC or is he just illiterate?

Good point - wasn't that impressed in his Press Conference: seemed to be from the same school of Bullshit/mindless optimism as most of those that preceded him at Portsmouth.

Plus I don't think that HMRC will contest the Administration for the sheer hell of it.

HMRC are using this to challenge the status of 'football creditors' generally.
They have never liked the change in creditor priority.

[Pseud O'Nym]

The Guardian are claiming that HMRC's challenge is going to be that Chainrai did not have the legal right to put Pompey into administration.

I don't wish to be over dramatic but... Several experts said weeks ago that Pompey's only hope lay in administration before the first court case, so why didn't they do it? Then they retain an expensive insolvency expert to paint a pretty picture of their finances and he concludes "I came away not knowing who controlled what", so they couldn't, or wouldn't, even explain their position to the man they were paying to save them. Now HMRC are allegedly calling Chainrai's ownership into question, presumably based on the statement prepared by Vantis.

Does all this not suggest to anyone that somebody at Pompey is very keen not to have unsympathetic eyes looking into the books? Add to the above the strange matter of the club being run, during the ownership of two Arabs, by Israeli associates of Gaydamak senior and I can't help but wonder if the SFO might not soon be reacquainting themselves with Pompey's offices.

[Dirk Gently]

It would all Match up with sOmethiNg that's not bEen mentioned Yet
but wouLd make A whole bUNch of seNse anD is somEthing I've heaRd saId oN more than a few times about the Goings-on at Pompey.

[Ian Royal]

It would all Match up with sOmethiNg that's not bEen mentioned Yet
but wouLd make A whole bUNch of seNse anD is somEthing I've heaRd saId oN more than a few times about the Goings-on at Pompey.

I've certainly suggested it as a possibility several times.

Football seems a superbly ideal place to do it.

[Royal Rother]

Andrew Andronikou, the administrator in charge ... "I'd imagine that HMRC are basically crossing their Is and dotting their Ts."

is he making a snide attack on HMRC or is he just illiterate?

Good point - wasn't that impressed in his Press Conference: seemed to be from the same school of Bullshit/mindless optimism as most of those that preceded him at Portsmouth.

Plus I don't think that HMRC will contest the Administration for the sheer hell of it.

My thoughts entirely. As he opened up he actually PROMISED the supporters that he would save the club.

I thought he came across as a bit of a cock to be honest. And I detested the way he insinuated that he knew people of influence with the PL and that they would be highly likely to bend the rules for him, but he really didn't want to talk about all that right now. Just the sort of arrogant smarmy accountant I would love to see with egg and shit all over his face.

[Pseud O'Nym]

It would all Match up with sOmethiNg that's not bEen mentioned Yet
but wouLd make A whole bUNch of seNse anD is somEthing I've heaRd saId oN more than a few times about the Goings-on at Pompey.

I've certainly suggested it as a possibility several times.

Yebbut, TBF, Dirk's suggestion is a work of art!

It is odd how Gaydamak junior's sudden need to divest himself of Pompey coincided with his old man's equally sudden need for a sojourn back in Mother Russia, considering how he (junior) is independently wealthy in his own right.

Football seems a superbly ideal place to do it.

Can you qualify ideal, it's a superlative innit?

[Arch]

I don't wish to be over dramatic but... Several experts said weeks ago that Pompey's only hope lay in administration before the first court case, so why didn't they do it?

There was another hope, which is that some fool would buy the club and bail them out.

[TFF]

The scope of West Ham's "ill-judged" spending over recent seasons has been been revealed in the club's latest accounts, which were published on Monday evening.

West Ham's decision to award injury-plagued striker Dean Ashton a new contract in December 2008 backfired, leaving them liable for a £5.81million payment when he was forced to retire in December.

Freddie Ljungberg and Kieron Dyer will have cost the club £34 million over the terms of their contracts, having only started a combined total of 32 matches for West Ham since the summer of 2007.

Bottom of this Pompey article http://www.telegraph.co.uk/sport/footba ... -move.html

(Go HMRC)

[PieEater]

http://news.bbc.co.uk/sport1/hi/footbal ... 544163.stm

Not sure why they need a meeting to agree what is to be paid, surely they already know what costs the FAW will pick up so just work it out and them the money.

This smacks of Cardiff saying to the FAW, you know we agreed 10% of the gate money, can we have 50% otherwise we'll get wound up next week.

[exileinleeds]

Strong words from HMRC.

1, Has Administrator been lawfully appointed

2. Concerns the administrator is not independent. They want confirmation and independent proof of the money Chanerai claims to have been put in, has been put in.



3. Serious concerns as PFC need 7m by the end of March, plus 7m by end of April. They cannot see how they can get it. "Everything is shrouded in mystery."


PL - Are going to wait until the outcome of the case before meeting with the Administrator.

Sounds....seriously interesting.