Pompey

[Quinny]

That'll leave the other non-football creditors whistling for their money and having to accept a 5% pay-off. Will HMRC stand for that? The signs are that they have had enough and will draw a line in the sand here which will blow football's cosy little "football first" arrangement apart.

That really would throw the cat amongst the pigeons as far as the wider football community is concerned.

I agree - there is no way the HMRC will sign up to a CVA: no CVA in place when Pompey leave administration will result in another hefty points loss, meaning that Pompey will struggle to survive in the Championship next season.

 

[boletus edulis]

Just read the following to see 2 wildly differing takes on the Pompey fiasco:

Harry Redknapp, the former manager who guided Portsmouth to their 2008 FA Cup triumph, urged the club's supporters to look on the bright side and insisted the team would make a quick return to the Premier League next season.

"Going into administration is the better of two evils," he said. "For the last few weeks they have been talking about going out of business, which is the last thing anybody wants.

"They have accepted they were going to get relegated anyway so they can go down and come back strong again. They can come straight back up again with that parachute money and the crowd behind them at home."

Redknapp added: "It has been amazing how it has gone at Portsmouth in the last eight months. We keep seeing owners coming in but then there's no money. At least they will still be there. They will go down but they will get the parachute money, £16million next year, £16million the year after.

"They have to rebuild and come back again. They can do that – they have done it before."

Or David Conn

The more I think about this the more I beleive we actually need a Premier league club to go to the wall. Administration seems like the Get Out of Jail free card you get in monopoly. And whilst it exists, many clubs will take the chance. Rationally it is not tenable if Pompey find themselves in a relatively strong position next year.

 

[Super horns]

Seems like Pompey will still have to be in court tomorrow to prove that their administration is fair.

 

[Chris Dennis]

Using this 'Get out of Jail Free' card as a strategy has paid off as they now have their second trip Wembley in 3 years. Would they have got to Wembley at all if they had lived within their means?

Some interesting questions:-

What happens if they get to the final and then go into liquidation? This is still possible as HMRC are chasing their £12M and there is an objection to the administrator who has a connection to a former owner. They are also being investigated for trading whilst insolvent. No Cup Final would be just reward for the FA who have no penalty for teams going into administration.

Could Birmingham sue them for loss of earnings having broken all the rules of business to put out that side that beat them?

Will they have their major sponsor on their shirts when they run out at Wembley? (HMRC)

 

[Chris Dennis]

The SF will be a major money-spinner for them and no administrator is going to close theclub down with a lucrative payday looming unless it is losing money at such a rate that even the SF income won't cover the extra losses.

This cup run could be their saviour especially if they get to the final.

What odds Pompey v Spurs/Fulham when the draw gets made dreckly?

Even if they are given the money for reaching the semi it will only pay half their wage bill for a month (£3M). Who is going to pay those wages until the end of the season?

Still a chance they face expulsion from the Cup but unlilkely now as if they were going to do it why let them play the quarter final? If the winding up order which still hangs over them goes through then that would be the end of the cup and a ground share with Havant and Waterlooville next season in whatever league will have them.

 

[Chris Dennis]

Pompey lay off 85 staff.

It makes you wonder what these 85 staff did and who will do it when they are gone.

Storey keeps his job with a 40% cut of his £1.4M a year (840k)

You could pay 40 people £21k a year for that amount! i.e. they could have kept 40 of them on and sacked Storey to have the same effect. I thought these administrators were supposed to be saving the club money? It beggars belief.

 

[GreenMatt]

They really are a club in crisis, and i feel really sorry for those who have lost their jobs. The club don't even own the name of their club! They have to trade as Portsmouth City FC because someone else owns the name Portsmouth FC!

 

[ArgyleGreen]

How come Portsmouth havent been docked any points yet?

 

[Ottawa Green]

Linky

 

[Anonymous]

Was always gonna happen

 

[matt220781]

Linky

Without that graphic, I really would have struggled to visualise 19 minus 9. Thanks, BBC.

Yes very helpful. I also like the way it shows how it moves Portsmouth from 20th down to.... well 20th!

 

[Chris Dennis]

Actually I don't feel sorry for the fans they have seen their club win the FA Cup, something I will probably never do, on the back of money that their club borrowed and couldn't pay back. Would their fans trade those 9 points for 2 trips to Wembley - I think not.

Both Grant and Warnock (and Lineker) have now said how unfair is it to deduct the points - what penalty would they suggest then? Lets all borrow far more than we can pay back then and all go into administration if there are no penalties. The penalty is far to lenient - if they are forming a new club effectively then make them start at the bottom.

 

[dani B]

If they are more than 9 points from safety come the end of the season, will their point deduction be moved to next season? Do I remember there being a cut-off date for this rule to come into force?

 

[Mr. Brightside]

I always think that it is incorrect if the points are deducted the same season. It should be done at the beginning of the following season, no matter what. As Pompey will not be at any disadvantage to the rest of the Championship teams next season.

Finances should be managed better by these teams, especially in the top flight. Any sort of parachute payment should also be lost (for one season at least) Then they might think twice :x

 

[L G]

Well done to Pompey this afternoon :grin:
Hull City :lol: Ian Dowie :lol: