Might not be the last of the points docked. I think Bournemouth had 20 off because they failed to keep to the agreed deal that got them out of a previous administration.
Pompey are toast imo as HMRC are smarting at the mo and not in the mood to do deals. Tbf I think even the most charitable football fan is finding it hard to justify them continuing only to do the same again in a couple of years.
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.
Agree with what you say, but that does not mean it should be so.
We bought HH outside of the window but couldn't play him. Ipswich needed the money we got a player on the cheap. Pompey players should all be available on a free transfer anyway, let another team get a good player on the cheap and stop Pompey paying out more, thus saving money to pay of creditors.
Yes the football creditors rule needs to go, as well as being unfair it does not do what it was set out to do. Anybody going into administration should start the following season one division lower, and that would include us. Look at Wimbeldon and Aldershot, if there is a will teams will find a way (to survive).
The football creditors rule is totally wrong in that it is often the players inflated wages are usually the source of the problem. I would limit the amount payable to any player to a maximum of say £10,000. There should also be penalties on clubs like Southampton who used the administration to clear their debts - and were then use that to pay wages well above the average for their division - there should be some chance for the small creditors to claw back their losses in such situations.
They will find a deal at the last minute that screws everyone that has advanced credit facilities to the club while ensuring that the players get all their money and the fans can continue to watch a team that has been assembled by the British tax payer.
I hope they survive this ordeal and come back fighting. Feel sorry for their fans, how much more can they take? Would they rather be liquidated so they can start again? All they can hope for is incredibly rich investors to take them on and wipe the slate clean.
Always had a soft spot for Pompey....the club we have played more times than any other in our history. First went there with some pals from school on the train from Waterloo in 1960....I was 12, it was one of my very first away games.....if not the first.
"I think most people would agree that the 10-point deduction imposed last season was sufficient, particularly as it played a huge part in the club's relegation to League One. "
I don't agree. The club have been a total disgrace (aided by incompetent football authorities) and they are extrememly lucky to be alive now. How many times will their "owners" be allowed to screw all and sundry ?
Yes the fans have got it rough, but they also had glory days in The Prem & a cup final, which was financed by their creditors who have been royally stuffed a number of times.
Football as a whole needs a reality check . The problem is that with people in charge at the fa and the premier league like they are I won't name them for fear of being sued , being no good self serving money grabbing pigs
Football fans will always look to the prem as success and want it instantly
They are no different than blatter and Michelle
Who hav made the bigger clubs in the land believe that the champions league and FIFA tournaments are the test of success and Foolishly until their clubs are affected believe these things to be the measure of success and not look at the consequences
Football was always owned by the fans goings on at our club have bought home just how far removed this fact is now days and even if our own affairs are not as bad as I feared 3 weeks ago i am still very concerned As to who owns us what the motives are and will I still have a club in ten years time or in Portsmouths case will there still be one in 10 weeks
"I think most people would agree that the 10-point deduction imposed last season was sufficient, particularly as it played a huge part in the club's relegation to League One. "
I don't agree. The club have been a total disgrace (aided by incompetent football authorities) and they are extrememly lucky to be alive now. How many times will their "owners" be allowed to screw all and sundry ?
Yes the fans have got it rough, but they also had glory days in The Prem & a cup final, which was financed by their creditors who have been royally stuffed a number of times.
I'm with Covered End on this one - the fans didn't mind watching Kanu et al on £50k+ p/wk did they ?? How did they think tehy could afford those players ?? The league were also very lenient when they got promoted to the Prem as their ground wasn;t up to standard (open away end) but they got away with it for a couple of years & spent money on players & not the ground.
No other clubs and other fans won't learn I don't like the goonershite I despise them but they are apparently debt free run the club like a business based on strict and fair principles Yet listen to what the fans want ,
football is not an equal playing field arsenal will have to spend 200 mil to finish in the top 2
What is the point in that
The fans at pompey are not to blame they just got taken in by the sky bullshit like I did and the 99.9 % of other fans and to a degree still are
Debt free depends on how you look at things. Arsenal are £300M+ in debt because of the stadium. The finances were all arranged and approved on the basis of them qualifying for the Champions league every year. To me that isn't a sensible approach, especially now there are more stronger teams now via for the few CL places. If Arsenal continue slipping behind on the field their loan repayment then becomes unsustainable without further financing.
Portsmouth staff face further redundancies The administrators of Portsmouth have told staff at the financially-stricken club they face being made redundant.
They have also made it clear players must still be sold or accept lower wages, or the club will close down.
In June, Portpin agreed to complete its purchase of the club on condition the wage bill was reduced through player sales and compromise agreements.
But administrator Trevor Birch has so far been unable to achieve sufficient savings by this strategy alone.
"Under the terms of the Company Voluntary Arrangement that was agreed with creditors, Portpin agreed to complete its purchase of the club on the condition that the wage bill was reduced through player sales and compromise agreements," said Birch.
"We have made progress in this respect over the past few weeks but there is still more that needs to be done if the club is to meet the pre-conditions for Portpin's purchase."
In February, Pompey made around 30 staff redundant including chief executive David Lampitt and the club face liquidation if they cannot reduce their playing staff further.
In total they have eight senior players left on the books and most of them will have to leave for the club to survive.
Those players are Tal Ben Haim, Greg Halford, Erik Huseklepp, Dave Kitson, Liam Lawrence, David Norris, Luke Varney and Kanu.
"Time is running out and, unless I can see a greater probability of player sales and compromises being completed in the near-term, the purchase will not go ahead and the club will have to close," added Birch.
"We have spoken to all of the club's staff and players and started a redundancy consultation period.
"I sincerely hope that we can complete the sale of the club and avoid the need for redundancies - and I will continue to do all I can to safeguard the future of the club - but I believe that staff need to be aware of the situation so that they have as much of an opportunity as possible to explore other options.
"This has been an incredibly difficult time for the staff, many of whom have loyally served the club for a number of years, and I recognise that it is extremely upsetting for them.
"This announcement is not in any way a reflection on them - in fact, I'm sure that we would not have got this far without their support."
Can't work out the thought process at Pompey: having been through god knows how many crises they were straight back in there giving the likes of Ben Haim £2M a year on a nice long contract with no break conditions. What would Darwin have to say about all this?
Comments
Pompey are toast imo as HMRC are smarting at the mo and not in the mood to do deals. Tbf I think even the most
charitable football fan is finding it hard to justify them continuing only to do the same again in a couple of years.
Afcp here we come.
Agree with what you say, but that does not mean it should be so.
We bought HH outside of the window but couldn't play him. Ipswich needed the money we got a player on the cheap. Pompey players should all be available on a free transfer anyway, let another team get a good player on the cheap and stop Pompey paying out more, thus saving money to pay of creditors.
Yes the football creditors rule needs to go, as well as being unfair it does not do what it was set out to do. Anybody going into administration should start the following season one division lower, and that would include us. Look at Wimbeldon and Aldershot, if there is a will teams will find a way (to survive).
Could be it for them... Shame for the staff, though they may be relieved to get out of the sideshow.
They will find a deal at the last minute that screws everyone that has advanced credit facilities to the club while ensuring that the players get all their money and the fans can continue to watch a team that has been assembled by the British tax payer.
Would they rather be liquidated so they can start again?
All they can hope for is incredibly rich investors to take them on and wipe the slate clean.
No club should operate without this information vein in the public domain
All football fans need to take note what is more important half a dozen seasons of success or hundred plus years history
Watch what you wish for you might just get it
First went there with some pals from school on the train from Waterloo in 1960....I was 12, it was one of my very first away games.....if not the first.
I don't agree. The club have been a total disgrace (aided by incompetent football authorities) and they are extrememly lucky to be alive now. How many times will their "owners" be allowed to screw all and sundry ?
Yes the fans have got it rough, but they also had glory days in The Prem & a cup final, which was financed by their creditors who have been royally stuffed a number of times.
Football fans will always look to the prem as success and want it instantly
They are no different than blatter and Michelle
Who hav made the bigger clubs in the land believe that the champions league and FIFA tournaments are the test of success and Foolishly until their clubs are affected believe these things to be the measure of success and not look at the consequences
Yet listen to what the fans want ,
football is not an equal playing field arsenal will have to spend 200 mil to finish in the top 2
What is the point in that
The fans at pompey are not to blame they just got taken in by the sky bullshit like I did and the 99.9 % of other fans and to a degree still are
Debt free depends on how you look at things.
Arsenal are £300M+ in debt because of the stadium. The finances were all arranged and approved on the basis of them qualifying for the Champions league every year. To me that isn't a sensible approach, especially now there are more stronger teams now via for the few CL places. If Arsenal continue slipping behind on the field their loan repayment then becomes unsustainable without further financing.
The administrators of Portsmouth have told staff at the financially-stricken club they face being made redundant.
They have also made it clear players must still be sold or accept lower wages, or the club will close down.
In June, Portpin agreed to complete its purchase of the club on condition the wage bill was reduced through player sales and compromise agreements.
But administrator Trevor Birch has so far been unable to achieve sufficient savings by this strategy alone.
"Under the terms of the Company Voluntary Arrangement that was agreed with creditors, Portpin agreed to complete its purchase of the club on the condition that the wage bill was reduced through player sales and compromise agreements," said Birch.
"We have made progress in this respect over the past few weeks but there is still more that needs to be done if the club is to meet the pre-conditions for Portpin's purchase."
In February, Pompey made around 30 staff redundant including chief executive David Lampitt and the club face liquidation if they cannot reduce their playing staff further.
In total they have eight senior players left on the books and most of them will have to leave for the club to survive.
Those players are Tal Ben Haim, Greg Halford, Erik Huseklepp, Dave Kitson, Liam Lawrence, David Norris, Luke Varney and Kanu.
"Time is running out and, unless I can see a greater probability of player sales and compromises being completed in the near-term, the purchase will not go ahead and the club will have to close," added Birch.
"We have spoken to all of the club's staff and players and started a redundancy consultation period.
"I sincerely hope that we can complete the sale of the club and avoid the need for redundancies - and I will continue to do all I can to safeguard the future of the club - but I believe that staff need to be aware of the situation so that they have as much of an opportunity as possible to explore other options.
"This has been an incredibly difficult time for the staff, many of whom have loyally served the club for a number of years, and I recognise that it is extremely upsetting for them.
"This announcement is not in any way a reflection on them - in fact, I'm sure that we would not have got this far without their support."
Can't work out the thought process at Pompey: having been through god knows how many crises they were straight back in there giving the likes of Ben Haim £2M a year on a nice long contract with no break conditions. What would Darwin have to say about all this?