Well done to the supporters for saving their club.
Once the formalities are complete, the club can exit administration and as a consequence face a points deduction that will confirm their relegation to the 4th tier or even start the following season in the 4th tier with a points deduction.
I'm glad they survived, but can't help wondering how through administrations they've only been docked a few points each times whereas Rangers were dumped 3 divisions down in 1 hit.
They actually a pretty decent team now, as shown by their form since xmas. If they can keep that team together, they ought to be a force in L2, as they'll be competing against teams with very small budgets and much smaller crowds
1. Rangers play in Scotland, different FA, different league, different rules. 2. Rangers were officially wound up, ceased to be, and a new club formed with the same name and most of the assets, whilst Portsmouth, rightly or wrongly, never ceased trading, it's still the same company/club.
What Andy said. Also, the net effect is that Portsmouth will start next season in L2. Odds on that there'll be a promotion a relegation and a financial meltdown in the next 5 years.
I may be wrong on this, but from what I understand is Portsmouth will be hit with the 10 point deduction if they finish outside the bottom four this season. if they finish within the bottom four then they will be hit with the deduction next season. March 26th seems to stick in my mind as the cut off date for entering administration, not sure if it's the same for exiting.
Well done the Supporters Trust. But how are they going to be able to afford to run it ? Presumably, will need to raise a few million per season, unless they are planning to field a team of kids.
I may be wrong on this, but from what I understand is Portsmouth will be hit with the 10 point deduction if they finish outside the bottom four this season. if they finish within the bottom four then they will be hit with the deduction next season. March 26th seems to stick in my mind as the cut off date for entering administration, not sure if it's the same for exiting.
Pompey will always have good support - just look at their attendances this season - and this will create a bigger cash flow in L2 than any other club by far.
1. Rangers play in Scotland, different FA, different league, different rules. 2. Rangers were officially wound up, ceased to be, and a new club formed with the same name and most of the assets, whilst Portsmouth, rightly or wrongly, never ceased trading, it's still the same company/club.
Just to add that the new club "Sevco/The Rangers" were also given preferential treatment by being put in the 3rd div, considering the rules are such that new applicants to the league are suppsoed to be able to show 3 years audited accounts and go through a whole application process...
Well done the Supporters Trust. But how are they going to be able to afford to run it ? Presumably, will need to raise a few million per season, unless they are planning to field a team of kids.
Well done the Supporters Trust. But how are they going to be able to afford to run it ? Presumably, will need to raise a few million per season, unless they are planning to field a team of kids.
This concerns me too. You know the old story about the dog that caught the car he was chasing, and didn't know what to do next. Really hope the Pompey Trust can make it work as they deserve it, and it will show others the way.
Well done the Supporters Trust. But how are they going to be able to afford to run it ? Presumably, will need to raise a few million per season, unless they are planning to field a team of kids.
I can only assume that the creditors have agreed to right off all the debts, otherwise they will soon be back in trouble trying to service a multi-million pound debt in the forth division.
I can only assume that the creditors have agreed to right off all the debts, otherwise they will soon be back in trouble trying to service a multi-million pound debt in the forth division.
Around £9m in parachute payments due from the Premier League will immediately be used to settle football creditors, while other creditors are expected to receive just a couple of pence in the pound.
of all the companies that went bust on me I never ever got a penny back, all in all over the years I lost over £100,000 through companies going into administration....basically denied me money to put aside for my pension.
And that ain't right Tel it's wrong that they can continue or anybody can continue when people like yourself suffer
It is a harsh reality I accept that but if by someway Pompey get back on their feet and do a Swansea what happens to those poor people who got screwed
If clubs continue after administration then the debt they owe should be paid at the earliest opportunity
Even in the forth tier players will be on a few quid and if they go up they will be on a couple of grand a week per week
And so on
I heard the Pompey bloke say they have raised 3.5 mil and that it will go into the club to start a fresh that 3.5 mil should be paying the catering the cleaners the security the florist etc whom have supported and served the club on trust then the club should be allowed to rebuild
It's a disgrace that clubs like Southampton etc are now in the prem after screwing local business
Comments
Let's hope that some sort of financial sense and stability finally reigns for the sake of both fans and creditors.
Well done to the supporters for saving their club.
Once the formalities are complete, the club can exit administration and as a consequence face a points deduction that will confirm their relegation to the 4th tier or even start the following season in the 4th tier with a points deduction.
They actually a pretty decent team now, as shown by their form since xmas. If they can keep that team together, they ought to be a force in L2, as they'll be competing against teams with very small budgets and much smaller crowds
2. Rangers were officially wound up, ceased to be, and a new club formed with the same name and most of the assets, whilst Portsmouth, rightly or wrongly, never ceased trading, it's still the same company/club.
March 26th seems to stick in my mind as the cut off date for entering administration, not sure if it's the same for exiting.
Presumably, will need to raise a few million per season, unless they are planning to field a team of kids.
If that means worse players on lower wages then so be it.
It is a harsh reality I accept that but if by someway Pompey get back on their feet and do a Swansea what happens to those poor people who got screwed
If clubs continue after administration then the debt they owe should be paid at the earliest opportunity
Even in the forth tier players will be on a few quid and if they go up they will be on a couple of grand a week per week
And so on
I heard the Pompey bloke say they have raised 3.5 mil and that it will go into the club to start a fresh that 3.5 mil should be paying the catering the cleaners the security the florist etc whom have supported and served the club on trust then the club should be allowed to rebuild
It's a disgrace that clubs like Southampton etc are now in the prem after screwing local business