I hope they don't go under. The reason why they find themselves in this position is the farce which is the fit and proper persons rule. Why should fans suffer because of the negligence of the powers that be.
I hope they don't go under. The reason why they find themselves in this position is the farce which is the fit and proper persons rule. Why should fans suffer because of the negligence of the powers that be.
I hope they don't go under. The reason why they find themselves in this position is the farce which is the fit and proper persons rule. Why should fans suffer because of the negligence of the powers that be.
Living on the Isle of Wight the Pompey fans were all gloating and bigging it up when the money was being thrown around, also giving the Southampton fans a torrid time .... Back then I said be careful what you wish for and that I'd rather have the Charlton that I love than a team of mercenaries thrown together with other peoples money, in fact I constantly argued with Pompey fans that I like my football the way it is and actually feel sorry for genuine Chelsea, City fans that liked their grass roots spit and sawdust football because it is now more like a Hollywood film than football there ... Well maybe now they will see my point as im loving life in League one (albeit temporary) and they are now a sorry mess of a club, but they will rejoice again when the next Mandaric type comes along flashing the wad.
There are plenty about Off It I know that only too well, but they were not joining a glorified gravy train at Charlton, that was just bad management ........ Hasslebank was arguably one of the best players ever to grace the Premiership ... How disappointed was I the first time I took my kids to see him in a Charlton shirt :-)
Can someone clarify our financial position (and I mean the club not the wealth of any owners). Did the new owners pay off existing club debts? If not then cafc has debt in excess of 20 million and the only difference with portsmouth is we have owners willing to cover our losses on a monthly basis. Would be happy to be wrong on this one.
not sure about feeling sorry for chelsea and city fans webby. I think they are pretty happy about having some fantastic players playing for them. Even if they are only playing for you for the money, especialy in citys case. I think chelsea with the like of lamps, terry (which even after all what has happened with him still gets good support from the chelsea fans) and drogba who has become quite a chelsea legend make it easy for the fans to see them in their teams shirt. and for city of course the charasmatic love him or hate him Mario 'banter' Balotelli. Wining the leagues and crowing over others is always something Man city love to do.
Can someone clarify our financial position (and I mean the club not the wealth of any owners). Did the new owners pay off existing club debts? If not then cafc has debt in excess of 20 million and the only difference with portsmouth is we have owners willing to cover our losses on a monthly basis. Would be happy to be wrong on this one.
The PREVIOUS directors wrote off much of the debt as most of it was a debt to them.
This allowed the Club to be bought by the current owners relatively debt free.
There is still a mortgage with Lombard from the building of the North Stand. I believe this costs £1m pa
There is still a liability of around £15m to the old directors who put money in via the bond issue 3 (?) years ago. Then has been deferred by them and is only becomes repayble (and only then in stages) when we return to the Premier League.
There will also be the losses last season and this which it seems are around £5m x 2. Presumably these are being underwritten by current owners but that's not clear.
otherwise as we are not a PLC anymore the picture is not very clear.
Questions for Slater on 8 March perhaps when he speaks to the VIPs
Can someone clarify our financial position (and I mean the club not the wealth of any owners). Did the new owners pay off existing club debts? If not then cafc has debt in excess of 20 million and the only difference with portsmouth is we have owners willing to cover our losses on a monthly basis. Would be happy to be wrong on this one.
The PREVIOUS directors wrote off much of the debt as most of it was a debt to them.
This allowed the Club to be bought by the current owners relatively debt free.
There is still a mortgage with Lombard from the building of the North Stand. I believe this costs £1m pa
There is still a liability of around £15m to the old directors who put money in via the bond issue 3 (?) years ago. Then has been deferred by them and is only becomes repayble (and only then in stages) when we return to the Premier League.
There will also be the losses last season and this which it seems are around £5m x 2. Presumably these are being underwritten by current owners but that's not clear.
otherwise as we are not a PLC anymore the picture is not very clear.
Questions for Slater on 8 March perhaps when he speaks to the VIPs
Don't need to know. I'm backing out of this thread, slowly slowly, reaching for the door handle, opening the door, reversing, closing the door. Turning, walking, walking, running, sprinting.......
Were they still in admin when they dropped down to the Championship? If they were, does this count as a second administration and a bigger deduction than 10 points?
Harry Redknapp has turned down the England job to assist Portsmouth and their tax problems with the HMRC.
This must be the investment that he was waiting for. The ground is going to be named after his dog and 'rosy' tinted glasses are going to be handed out to all supporters so they can see into the future
Getting back to the thread, how many more times will this be allowed to happen? Three strikes and you're out? I doubt it just keep ripping the ars*e out of the honest tax payer ( no offence Harry) and small time creditor! Unbelievable!!
The administration put the new lot in charge what hope do they have of getting out of this hole.
I think it should be more than 10 points but can't help but feel that they have been let down by the football league and the administration team
Pompey have cheated this season ,
Someone within the club knew they were screwed, but signed kitson, benjani, Lawrence, etc on huge wages
What I dont get , is that when we we close we signed shite players in the hope we would get out of this league because the manager would have a system ,
There have gone back down the shite or bust route 18 mths after nearly going out of existence
What amazes me is the fact they can pay 1.5m for a player at the start of the season when they obviously had these problems? Have a lot of sympathy for the fans for which none of this is their fault.
The thing is there must be £4m worth of assests in the players. Sell them until the debt is cleared, they will just have to accept the best price offered (a little like when we bought HH from Ipswich).
The thing is there must be £4m worth of assests in the players. Sell them until the debt is cleared, they will just have to accept the best price offered (a little like when we bought HH from Ipswich).
Two problems with this:
1) With the transfer window closed the higher value players cannot be sold. I suspect this was a deliberate decision to ensure they keep their best players as assets when they come out of administration after they've knocked their creditors, again.
2) Most of the players they have will be on wages that few other clubs will match if they have to pay a transfer fee. Thus they will refuse to leave until they are given a free and then they will not have to take a pay cut and might even get a better (or longer) contract.
This football creditors rule needs to go. In the end there will be no cedar fr football clubs from anywhere. I can see the HMRC insisting on all taxes paid in advance, which will cripple many other clubs, but the Government (the tax payer) needs to do something about the money that these businesses are knocking.
If Portsmouth were liquidated in 2010 they wouldn't have been able to spend even more of the tax payers money of over paid footballers.
They should be forced out of business, as should Glasgow Rangers, and the same fate should be waiting for any other football club that can't pay it's taxes. Otherwise this wil continue to happen again and again and again.
Comments
Just saying.
Shit fans
Shit ground
Shit town
Fuck 'em
There's a fair bit of hypocrisy on this thread.
We didn't, that's why we are where we are today.
I think they are pretty happy about having some fantastic players playing for them. Even if they are only playing for you for the money, especialy in citys case. I think chelsea with the like of lamps, terry (which even after all what has happened with him still gets good support from the chelsea fans) and drogba who has become quite a chelsea legend make it easy for the fans to see them in their teams shirt.
and for city of course the charasmatic love him or hate him Mario 'banter' Balotelli. Wining the leagues and crowing over others is always something Man city love to do.
This allowed the Club to be bought by the current owners relatively debt free.
There is still a mortgage with Lombard from the building of the North Stand. I believe this costs £1m pa
There is still a liability of around £15m to the old directors who put money in via the bond issue 3 (?) years ago. Then has been deferred by them and is only becomes repayble (and only then in stages) when we return to the Premier League.
There will also be the losses last season and this which it seems are around £5m x 2. Presumably these are being underwritten by current owners but that's not clear.
otherwise as we are not a PLC anymore the picture is not very clear.
Questions for Slater on 8 March perhaps when he speaks to the VIPs
I'm backing out of this thread, slowly slowly, reaching for the door handle, opening the door, reversing, closing the door. Turning, walking, walking, running, sprinting.......
I think it should be more than 10 points but can't help but feel that they have been let down by the football league and the administration team
Pompey have cheated this season ,
Someone within the club knew they were screwed, but signed kitson, benjani, Lawrence, etc on huge wages
What I dont get , is that when we we close we signed shite players in the hope we would get out of this league because the manager would have a system ,
There have gone back down the shite or bust route 18 mths after nearly going out of existence
1) With the transfer window closed the higher value players cannot be sold. I suspect this was a deliberate decision to ensure they keep their best players as assets when they come out of administration after they've knocked their creditors, again.
2) Most of the players they have will be on wages that few other clubs will match if they have to pay a transfer fee. Thus they will refuse to leave until they are given a free and then they will not have to take a pay cut and might even get a better (or longer) contract.
This football creditors rule needs to go. In the end there will be no cedar fr football clubs from anywhere. I can see the HMRC insisting on all taxes paid in advance, which will cripple many other clubs, but the Government (the tax payer) needs to do something about the money that these businesses are knocking.
If Portsmouth were liquidated in 2010 they wouldn't have been able to spend even more of the tax payers money of over paid footballers.
They should be forced out of business, as should Glasgow Rangers, and the same fate should be waiting for any other football club that can't pay it's taxes. Otherwise this wil continue to happen again and again and again.