Portsmouth fc

[Royal With Cheese]

Not sure if it will have any bearing on this, but in related news, Pompey administrators, PKF, are in advanced merger talks with BDO; I'm sure the highly paid guys working on the Pompey administration will be fully focussed on the job in hand, but you have to wonder if this news could cause them to be somewhat distracted....

I'm not sure darts and company administration is a particularly good mix.

[Cobi]

So there's no getting away from this 10 point deduction then? They will get it this season?

They're in a right mess then.

L2 with Oxford. What a treat!

[REMTARDROYAL]

does anyone remember the Portsmouth fan that spazzed with Ian Royal over whether they were doomed or not?

I wonder what he's saying now

[Royalist]

January will be an interesting month. They have players who others will want and who may not fancy a relegation battle in league one.

[Royalist]

Williamson scored 14 goals in the league last season and plenty of assists for starters. Getting on in years but on a month to month contract i wouldn't be surprised if he wanted out, he joined Portsmouth thinking they were ambitious , and people wanted him

[Ian Royal]

does anyone remember the Portsmouth fan that spazzed with Ian Royal over whether they were doomed or not?

I wonder what he's saying now

Royal Chicago posts up the link for that every now and then.

I can't help but feel a little smug and unsympathetic about the outcome for Pompey after that moron's bleatings. I like to think he's crying in a corner sitting in his own faeces considering his mistakes.

[Alexander Litvinenko]

Done deal, subject to sorting out the ground sale.

Trevor Birch, PKF partner and joint administrator of Portsmouth Football Club, has released the following statement:

“We can confirm that we have signed a sale agreement with the Pompey Supporters’ Trust (PST) to acquire the business of Portsmouth Football Club.

“Portpin has rejected the Trust’s offer for Fratton Park, so the sale has to be conditional on receiving the Court’s permission to sell the ground. We are therefore in the process of submitting an application to the Court.

“I’m sure every member of staff, every player and every supporter will join me in wishing to see a speedy resolution to what has been a protracted administration.

“Everyone involved in the transaction has worked incredibly hard to get the deal to this stage and, although there is still much that needs to be done, today’s announcement marks what is hopefully the beginning of the end of the process."

[Silver Fox]

How do Portpin get forced to sell them Fratton Park then? And who sets the price?

[Alexander Litvinenko]

How do Portpin get forced to sell them Fratton Park then? And who sets the price?

No idea how a sale can be enforced, presumably there are some contract terms somewhere about this. I think the court can define what a fair price should be - ISTR a similar thing happened at Wrexham.

[Tony Le Mesmer]

How do Portpin get forced to sell them Fratton Park then? And who sets the price?

No idea how a sale can be enforced, presumably there are some contract terms somewhere about this. I think the court can define what a fair price should be - ISTR a similar thing happened at Wrexham.

Didnt Portpin aquire the ground as a form of guarantee rather than agreeing to a purchase? I guess it has somthing to do with that.

“I’m sure every member of staff, every player and every supporter will join me in wishing to see a speedy resolution " As if!

[Cobi]

Um, how can they get out of the 10 point deduction???

Nabil Hassan ‏@NabilHassan79
I now expect #pompey to avoid the 10-point penalty from the Football League as and when they exit administration after today's PST-PKF news.

[Tony Le Mesmer]

They can't. Unless they agree to pay creditors off at the rate originally agreed last time. But they have agreed not to, hence why the FL have imposed a 10 point penalty, to be deducted when they exit administration.

[Tony Le Mesmer]

All explained here:

http://www.football-league.co.uk/footba ... 34_2847729

[Alexander Litvinenko]

Just goes to show how ludicrous the "sporting sanctions" rules are. They were meant to be a deterrent - but obviously aren't, and now they just act as a hindrance to a new club trying to recover from the past owner's misdeeds.

[PieEater]

How do Portpin get forced to sell them Fratton Park then? And who sets the price?

No idea how a sale can be enforced, presumably there are some contract terms somewhere about this. I think the court can define what a fair price should be - ISTR a similar thing happened at Wrexham.

That was my understanding, they establish the fair market value and Portpin are forced to accept but I've just read this:
http://www.fansnetwork.co.uk/football/p ... ryid=18287
and that seems to say that the ground was already sold to pay the debenture at the last administration, so it seems uncertain why they need to do it again.

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

Just goes to show how ludicrous the "sporting sanctions" rules are. They were meant to be a deterrent - but obviously aren't, and now they just act as a hindrance to a new club trying to recover from the past owner's misdeeds.

Some might argue that, as a "new club", Portsmouth should be forced to start from the bottom or at least, as with Rangers in Scotland, in the 4th tier....

[Alexander Litvinenko]

Just goes to show how ludicrous the "sporting sanctions" rules are. They were meant to be a deterrent - but obviously aren't, and now they just act as a hindrance to a new club trying to recover from the past owner's misdeeds.

Some might argue that, as a "new club", Portsmouth should be forced to start from the bottom or at least, as with Rangers in Scotland, in the 4th tier....

That's a whole different argument, but you're right. Makes no sense though, because logically a new club would start *right* at the bottom of the whole pyramid. Sending them only to the bottom of their current league structure shows a recognition that there's a continuation of some kind.

[Terminal Boardom]

Sadly, this whole sorry saga will not act as any deterrent to any football club chairman anywhere in the country to control spending.

[Jackson Corner]

Palace have gone into admin 3 times. They now top the Championship with a top manager. Cheats do prosper.

[Silver Fox]

Holloway's left already?