Football League Rules

Hi

As you know I am not a WUM and I get on well with people on this forum and do take an interest in Pompey on a general football level. So this isn't a WUM thread.

Genuine question: Do you think you will enter administration?

Football League rules state that any club whose parent company enter administration then the football club has to enter administration.
That was the cause of us entering administration.

Do you think it will happen, judging by some reports it could be soon! Is it more as well if you go into administration more than once?

Really needs to be sorted, and soon!

Thanks guys!
All the best!

 

Do you think you will enter administration? No, we are living within our means and our accounts are still scrutinised by the FL so we have no cause to go into admin. Also Chanrai will step back in as he is apparently registered as the owner at Companies House.

Football League rules state that any club whose parent company enter administration then the football club has to enter administration. One of your own supporters, I think it was Fran, has answered that one. The difference is that CSI has gone into admin, apparently for protection from creditors, but PFC is just one of its franchises, it has several other subsidiary companies. There is also the 'egg on the faces' of the FL or FA whoever, who let CSI pass the F&PP test even though there was evidence that all might not be well, eg the FSA not allowing Snoras Bank opening branches in the UK.

 

So from reading above, you see that theoretically under FL rules administration should happen.

However, you don't think you will...? Interesting. It might be nothing tbh like you say, PFC itself might be fine.

Only time will tell!

 

I don't know the ins and outs of the FL rules, but apparently the Southampton parent company had only one business - SFC. So the parent company and the club were inextricably linked. I understand that this is what made the difference as PFC is just one of the CSI businesses, all of which are solvent and viable. It will make quite a difference if Chanrai takes it back as well.

 

One other question: Who has actually said Chainrai is returning? I've seen two posts on two threads with no report or proof of his return.

No disrespect but why would he after last time?

 

Because on 22 November, the day before the arrest warrant was issued Chanrai took out a mortgage (charge) on CSIs assets. He is still owed 2 payments from the purchase price agreed and although he won't want to take PFC back he will want to protect his money, by way of not letting the club go into liquidation where he would get nothing.

The charge makes him a preferred creditor.

 

"I don't hold out much hope the club will avoid at least a 10-point loss," lawyer Guy Thomas told the BBC Sport.

http://news.bbc.co.uk/sport2/hi/football/15944523.stm


It doesn't look promising

 

Sounds understandable

 

Depends on outcome of investigation...

 

Let's wait and see. 3rd eye is spot on with things. Pompey are only a part of CSI and at the moment are trading within their means.
I'm more concerned about the coming months with CVA payments that become due etc. Unless there is someone out there with a spare 20-30 million to play with I really do fear for our future.

 

It's reported elsewhere that Chris Akers told reporters that Antonov has 'invested' GBP 10.5M for players wages and transfer fees since June. I'm not sure if this is true but, if it is, it puts the lie on Pompey being self sufficent - in fact it says we are operating way beyond our means. It also suggests that Pompey has assets belonging to Antonov that could be frozen.

That's the problem at the moment - separating fact from fiction.

 

There you go, trying to cheer me up again LFinH

 

LFinH, try the link on exleighparkers Ladies Day thread. Fascinating

 

When I saw the league table I thought the 10 point deduction was already in place.

 

I think the football league should be fined for letting these dodgy russians take over the club...I thought this 'fit and proper' test was suppose to eradicate these tw@ts from getting into football and toy around with clubs and it's hard working fans.

 

Jeez, just how much more **** are you guys going to get thrown at you, sincerely hope all comes together for you sooner rather than later

 

Administrator Andrew Andronikou does not believe Portsmouth will be hit by a points deduction.

http://news.bbc.co.uk/sport1/hi/football/15963854.stm


Hope this is right, Pompey gone through enough.

 

It's just a fliipin' nightmare tbh....just when things looked like a bit of noramality had set in and we were restoring some sort of financial credibility and standing on our own two feet this comes along.....I don't think we deserve this - but what we deserve in life and what we get - well hey ho eh!!

 

Looks like Pompey will get away with it again lol

 

They deserve to, having to suffer you lot near them