Generic clubs in financial crisis Thread

[Barry the bird boggler]

So was there trouble after the play off final then?

[Dirk Gently]

I agree all clubs have idiot fans, but Cardiff have a disproportionate number compared to other clubs that regularly create incidents. How many other clubs have bubble trips? They also have the FAW excuse card to play. That's why I have a rational dislike for Cardiff.

Stoke, Millwall, Burnley amongst others.

How many of them involve matches with Cardiff?

None.

[bobbybottler]

Portsmouth have offered to pay their creditors 20 pence in every pound they owe, according to bbc sport. Looks like HMRC may oppose the proposed timescales for the payment of this though, which would mean that Portsmouth wouldn't be out of administration quickly enough to avoid starting next season with a 10 point penalty....as I understand it.

Article: http://news.bbc.co.uk/sport1/hi/footbal ... 707231.stm

[Tony Le Mesmer]

Portsmouth have offered to pay their creditors 20 pence in every pound they owe, according to bbc sport. Looks like HMRC may oppose the proposed timescales for the payment of this though, which would mean that Portsmouth wouldn't be out of administration quickly enough to avoid starting next season with a 10 point penalty....as I understand it.

Article: http://news.bbc.co.uk/sport1/hi/footbal ... 707231.stm

Surely that picture is enough for any unsecured creditor to vote against the CVA?

and the 10 points is a minimum, it can be anything above that. See Luton, Bournemouth, etc.

[TFF]

Portsmouth have offered to pay their creditors 20 pence in every pound they owe

kunts

Looks like HMRC may oppose the proposed timescales

heroes

[exileinleeds]

As a tax-payer I have to hope HMRC does their bit to get this money collected as soon as possible. As a football fan I hope they do it at the expense of Pompey and other cheating scummy clubs.

When is the deadline for them to have a CVA in place to avoid a points deduction? Is it the start of the season or when the fixture list is released?

[Messiah]

They'll get away with murder, as most do. I'm just hoping for a substantial points deduction that fecks up their season.

[Skyline]

Portsmouth have offered to pay their creditors 20 pence in every pound they owe, according to bbc sport. Looks like HMRC may oppose the proposed timescales for the payment of this though, which would mean that Portsmouth wouldn't be out of administration quickly enough to avoid starting next season with a 10 point penalty....as I understand it.

Article: http://news.bbc.co.uk/sport1/hi/footbal ... 707231.stm

Surely that picture is enough for any unsecured creditor to vote against the CVA?

and the 10 points is a minimum, it can be anything above that. See Luton, Bournemouth, etc.

I thought Bournemouth (and Rotherham) got hit with the 17pt penalties because they didn't have the CVA in place before the start of the season. The 10pts is just for being in administration isn't it?

[Wycombe Royal]

Looks like Cardiff's money problems are coming to an end....

http://www.walesonline.co.uk/news/wales-news/2010/05/27/malaysians-target-top-two-as-cardiff-city-takeover-agreed-91466-26534209/

[Messiah]

For the short term anyway. We've all seen this at Pompey.

[soggy biscuit]

Steve Cotterall to be Portsmouth manager

[Row Z Royal]

I look forward to the pomp & ceremony at the unveiling.

[PieEater]

Again the Portsmouth cop out stinks, they write off most of their debt, keep their players (who don't appear to be getting sold) and pocket the parachute payments.

[T.R.O.L.I.]

Portsmouth have offered to pay their creditors 20 pence in every pound they owe, according to bbc sport. Looks like HMRC may oppose the proposed timescales for the payment of this though, which would mean that Portsmouth wouldn't be out of administration quickly enough to avoid starting next season with a 10 point penalty....as I understand it.

Article: http://news.bbc.co.uk/sport1/hi/footbal ... 707231.stm

I thought HMRC were owed more than 25% of the outstanding debt? If so, surely they can block the CVA?

[Messiah]

Steve Cotterall to be Portsmouth manager

It's LOLLY from me, and LOLLY from him.

[leww_rfc]

Brendan Rodgers to Notts County?

[TFF]

Looks like Cardiff's money problems are coming to an end....

http://www.walesonline.co.uk/news/wales-news/2010/05/27/malaysians-target-top-two-as-cardiff-city-takeover-agreed-91466-26534209/

Talk is cheap

[Tony Le Mesmer]

Portsmouth have offered to pay their creditors 20 pence in every pound they owe, according to bbc sport. Looks like HMRC may oppose the proposed timescales for the payment of this though, which would mean that Portsmouth wouldn't be out of administration quickly enough to avoid starting next season with a 10 point penalty....as I understand it.

Article: http://news.bbc.co.uk/sport1/hi/footbal ... 707231.stm

Surely that picture is enough for any unsecured creditor to vote against the CVA?

and the 10 points is a minimum, it can be anything above that. See Luton, Bournemouth, etc.

I thought Bournemouth (and Rotherham) got hit with the 17pt penalties because they didn't have the CVA in place before the start of the season. The 10pts is just for being in administration isn't it?

I think this is covered back in the thread somewhere. You get 10 pts for going into admistration. Failing to agree a CVA means the company has to be liquidated or sold to a new one. Either way, the old club ceases to exist. A new company can apply for the old clubs FL share, but this comes with an further points deduction decided by the FL. I think!

[Tony Le Mesmer]

HMRC have countered this by applying a 100% penalty to the amount due for late payment.

[Tony Le Mesmer]

HMRC have countered this by applying a 100% penalty to the amount due for late payment.

Source?

posted near bottom of this thread:


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