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Pompey fans gain control of club

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Comments

  • JT
    JT Posts: 12,348
    image
  • LenGlover
    LenGlover Posts: 31,732
    Pleased for the fans.

    Let's hope that some sort of financial sense and stability finally reigns for the sake of both fans and creditors.
  • seth plum
    seth plum Posts: 53,448
    Good luck to their trust in this. They now have a club controlled by Portsmouth fans. Would we could feel confident enough to say the same thing.
  • nth_london_addick
    nth_london_addick Posts: 35,919
    Pleased for the fans but something is very wrong that a club can still exist when owing money like they have in the last few years
  • SheffieldRed
    SheffieldRed Posts: 3,772

    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.
  • cafctom
    cafctom Posts: 11,398
    nth london addick said:

    Pleased for the fans but something is very wrong that a club can still exist when owing money like they have in the last few years

    This.
  • Stig
    Stig Posts: 29,318
    If ever a story made the case for a strong Supporters Trust, this is it. Well done Pompey fans.
  • killerandflash
    killerandflash Posts: 70,474
    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
  • randy andy
    randy andy Posts: 5,463
    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.
  • Mortimerician
    Mortimerician Posts: 5,222
    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.

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  • PopIcon
    PopIcon Posts: 5,970
    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.
  • Covered End
    Covered End Posts: 52,287
    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.
  • The_President
    The_President Posts: 14,280
    PopIcon said:

    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.

    Correct.
  • Lincsaddick
    Lincsaddick Posts: 32,502
    All they need now is some lolly, bread, cash, money
  • The_President
    The_President Posts: 14,280
    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.
  • Kent_red
    Kent_red Posts: 127
    randy andy said:

    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...
  • Friend Or Defoe
    Friend Or Defoe Posts: 18,186
    First call of business, ban this idiot.
    image
  • JT
    JT Posts: 12,348
    Covered End said:

    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.

    Borrow
  • soapy_jones
    soapy_jones Posts: 21,459
    Ban him? He's the new chairman!
  • Davo55
    Davo55 Posts: 7,859
    Covered End said:

    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.

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  • seth plum
    seth plum Posts: 53,448
    What they must do is enough slashing and burning in order to run the club so it doesn't die.
    If that means worse players on lower wages then so be it.
  • Nicholas
    Nicholas Posts: 7,678
    edited April 2013
    JT said:

    Covered End said:

    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.

    Borrow
    lol I saw the other thread
  • nth_london_addick
    nth_london_addick Posts: 35,919
    What about the people they owe money too again
  • kings hill addick
    kings hill addick Posts: 5,781
    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.
  • killerandflash
    killerandflash Posts: 70,474
    kings hill addick said:

    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.

    http://www.guardian.co.uk/football/2013/apr/10/portsmouth-future-fratton-park-ownership
    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.
  • Friend Or Defoe
    Friend Or Defoe Posts: 18,186
    nth london addick said:

    What about the people they owe money too again

    They need to increase the punishment for this reason.
  • nth_london_addick
    nth_london_addick Posts: 35,919
    Dont seem right to me but no football club that goes into admin seems fair to me that people dont get anything
  • TEL
    TEL Posts: 10,100
    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.
  • SilentAddick
    SilentAddick Posts: 1,603
    Insurance?
  • nth_london_addick
    nth_london_addick Posts: 35,919
    edited April 2013
    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

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