Pompey are apparently 48 hours from liquidation

Crazy, footballs gone absolutely crazy. The first thing any solvent buissness should do is pay their taxes if they can't do that then sell assetts how football clubs think they are above the law is beyond me and its not its like the first time its happened. Their needs to be proper punishments for the idiots responsible but the football league will let them get away with it once again I feel for the fans because its not their fault but these are buisiness and they have to be run properly the fact its football doesnt change that.

 

The Administrator is not appointed to Portsmouth FC but to the parent company, CSI. CSI is in administration and the administrators have been appointed to sell of that company's assest, of which Pompey are just one of several.

The first payment of the CVA is not due until April this year so there has been no breach of that agreement.

 

Saints HAD to sell Surman, McGoldrick and Dyer to meet daily cashflow problems.

Pompey have daily cash flow problems... and bring in two players this week (ok, they let one go, but on a free)

 

Yep the football league are completley spineless and untill that changes football won't either. It should be simple if the football club is insolvent it gets kicked out and starts again in the non leauge, harsh on the fans but its not right that local business and the tax payers are getting ripped off from people using football clubs as an ego boost. But pompey will get a stern talking to at most and every other club will see that it doesnt matter if you dont pay your bills because you'll get away with it.

 

I can't see any talk of the administrator selling off any other part of CSI. The rest of it's assets are dormant trading entities and I guarantee they will be liquidated. So the company IS Portsmouth Football Club.

I struggle to believe the CVA was set up on the basis of annual payments!! It would have been monthly.

 

Two players? That would be Kelvin Etuhu on a contract til the end of the season and...Mattock? Thorpe? Loans from WBA and those deals aren't even complete yet. I dont know anyone else we've even been linked to signing. I doubt whether Etuhu is making more than Hreidarsson was. Hardly a Redknapp-esque transfer spree.

 

Apparently not or, if monthly, the first payment isn't due till April. Creditors were screwed, but then they voted for this against the HMRC.

 

I suppose your an expert on CVA are you? Or better yet, know the every detail of the CVA agreement reached between Portsmouth and is creditors. Unless you can prove to know more about it than Androniku or even the Portsmouth News then I'm afraid I'm going to take their word above yours.

 

Pompey gave big wages to the likes of Kitson, Lawrence and Norris aftter going down. The responsible thing would have been to slim down after getting shot of the big earners. Being responsible might have made it easier to find a reputable buyer.

 

I think the total parachute payments are £40million+ but spread over several seasons. Some was already advanced to the club so I don't think there will be anything coming till next season - Portsmouth are now reliant on getting a new owner with lots of spare cash in the next week or two, or it's administration again.

The club won't be able to pay the wages and tax bill just on the income generated on match days, as season ticket money is already spent, and the couple of thousand other fans won't bring much income. You can't reduce the cost of high earners because nobody in their right minds would take on such inflated contracts and you can't afford to pay the contracts off.

I think the club is screwed this time, simply because the assets are far outweighed by the debts, and realistically, only premier league football would bring any kind of return on potential investment and that is not going to happen any year soon.

 

Chanrai is not a creditor of Portsmouth football club, he is owed money by the (not inextricably linked!!!) parent company. If he does step in, he is effectively proving that Portsmouth should have been put into administration in November when CSI did

 

But according to the Skates and that clown AA, CSI and PFC are not "inextricably linked" , if your post is correct then they should receive a 10 point deduction (plus extra for entering admin for the 3rd time).

The simple fact of the matter is that Pompey have cheated again and again. Kitson, Norris, Lawerence, all in. For god's sake they turned down money for players in the very week that they admitt to owing the taxman £1.6mil. Have they no shame, when on earth is this going to end. When are this stench ridden club going to face up to their fate. Live within their means and follow the rules like the rest do.From the size of their pathetic support this season it seems the Portsea locals are fed up with it as well. The sooner the FL kick them out, the better.

 

If HMRC get them in court again there's going to be **** all leniency.

 

They got away with it last time, hit them hard with the biggest points deduction possible,to make an example of them for trying to take the piss.
My 5/1 about them relegated is looking better by the day.

 

It's not hard to know more than Androniku. How that bloke is a "professional" is beyond me. Although he does seem pretty good at finding the cracks in the system and associating with criminals and shooting his mouth off to the press before any deals are done and then when they fall down, he blames everyone else. He was born to be Pompey's administrator. He'll end up owning the club himself.

 

My Dad is convinced that Pompey will be issued with a court appearance this week and HMRC WILL win their case.

Any company that was trading insolvent would be put out of business straight away.
The judge said PFC was trading insolvent, yet they walk away have to pay 20p in the £1 and a minor deduction despite the fact they're already all but relegated.

Teams that have don't far less have suffered much worse and my Dad thinks HMRC will hit them hard this time!

 

So you are not actually a disinterested party then

 

Very interested. Have already got the weather map ready,just need to put in the minus amount in the temperature over Portsmouth.

 

Well my Dad isn't convinced that Pompey will be issued with a court appearance. Nor does my Dad think that HMRC will hit them hard this time. And anyway, my Dad could beat your Dad up.

 

My Dad knows nothing about it.