fromdayone

Also Sky channel 984, bbci player and bbc news.

http://thepompeychimes.net/forum/viewtopic.php?f=2&t=57554

Understand that but financial irregularities such as using unregistered agents would be separate from the CVA issue, I just hope that the FL will still have the right to impose penalties for offences that occured outside of their jurastiction.

Is there any possibility that with the FL and the Premier league being two separate entities that the FL wont be able to impose any points sanctions for any iregularities that occured during membership of the PL?.... bit like Ronnie Biggs comitting his crime in England then escaping to Brasil safe in the knowledge that he couldnt be extradited!

http://www.dailymail.co.uk/sport/football/article-1261261/Portsmouth-hit-new-tax-evasion-claim.html?ITO=1490 more trouble!

http://www.telegraph.co.uk/sport/football/leagues/premierleague/portsmouth/7530767/Portsmouth-take-steps-to-financial-future-with-10m-players-bids.html

And Plan 'D' is for AA to get out quick. That's why the debt is now climbing through the roof. "The true facts of the level of debt were concealed from us by the CEO and the SoA"? Where does that quote come from?

http://www.portsmouth.co.uk/sport/Pompey-v-Chelsea--live.6177529.jp

Fat boy on his way....at last! http://www.portsmouth.co.uk/newshome/Storrie-to-leave-Pompey.6108304.jp

Looks like Jacobs could be looking for alternative employment soon! "The future of the executive director, Mark Jacob, is less clear. He was also at Fratton Park yesterday but it is thought that he will be removed once administration begins." http://www.guardian.co.uk/football/2010/feb/25/portsmouth-administration

Preferential treatment?!!! http://www.tribalfootball.com/premier-league-open-financial-assistance-portsmouth-635681

This post on the portsmouth news website comments section is very well constructed and seems likely to be accurate and knowledgeable. "This adjournment is not a lifeline. It is not intended to save a drowning man. The shocking claim, made by HMRC, which has come out at today's court hearing is that, according to the judge, the company "appears to be trading whilst insolvent". This is such a serious allegation that it now has to be investigated, PCFC being obliged to submit a statement of financial affairs. If knowingly trading while insolvent the directors of the club become personally liable and may face disqualification under the 1986 Act. This allegation by HMRC will now be put to the test. It will also be determined if any mystery investor has meanwhile committed to put in enough cash to save the situation. Because this is no longer just about paying the tax bill. Even if PCFC could somehow borrow or scrounge funds to pay HMRC (the original 7.4 million plus another 4 million that has accrued since), it would still be insolvent unless it can raise by Friday next week a massive sum (we don't know exactly how much, some tens of millions) to take it out of insolvency. (114 The Art of War: "The club has nine days to PROVE that it can pay ALL its debts.") Any new owner would need to put in that sum to begin with, as a pure loss. Then to put in much more as investment, with only the parachute payments as significant future income beyond gate receipts etc. (the Sky TV money having gone). But if the investor was relying on those payments to cover his initial losses, then they would be swallowed up immediately and you'd probably have to play an amateur eleven. So in essence you need an "investor" who is really a fairy godmother. Or you might get a clever asset-stripper. There are few real-life precedents for PCFC's situation, because its crisis is part of the emerging general crisis of the football industry, in which other clubs too face potential "Armageddon". All in all, this has been a disastrous day, not so much because of the judge's decision as because of the truth now revealed."

I would agree with you on that, the hearing whenever that may be, will only act on the information given in the statement of affairs. So anything after that is submitted ,should be irrelivant. Thats how i see it.... but my knowledge on these matters is zero!

Source?

Spill the beans, please!

God i hope your right! fingers crossed.

"We need time for a new buyer to come in and then we will be in a position to pay the Revenue." !!!! Thought they were contesting the fact that they 'had to pay' the VAT portion of it in the first place?.. Maybe someone has had a quiet word and told them not to be so silly, so now they are just stalling for time.

Sounds like they have gone out with the begging cap in hand rather than any interested party coming to them! "Portsmouth have asked Saudis to help them out of their short-term crisis, despite the bad publicity generated by their previous owner. An agent representing the club has made third-party contact with HRH Prince Mohammed bin Nawaf, the Saudi Arabian ambassador to the United Kingdom and Republic of Ireland, about helping Pompey out"

http://soccernet.espn.go.com/news/story?id=738464&sec=england&cc=5739 Storrie now pleading for leniency!...getting desperate.

Thats what happened to us when we went in to admin. If we had finished outside the relegation places the points deduction would have come into force that season to send us down. However because we had effectively been relegated under our own steam, the points were held over to punish us at the start of this season. 4 nil man u.... quality!

Not forgetting the Duke of Westminster....Can't see him being bothered about being benevolant to a scabby littlle football team. http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/7159059/Grosvenor-joins-HMRC-winding-up-petition-against-Portsmouth-football-club.html

Tick tock tick tock

Oh dear! http://www.guardian.co.uk/football/2010/feb/05/balram-chainrai-portsmouth-administration

Did anyone catch the expert on Administration talking about Portsmouth at half time on the Radio Solent commentry?.... I tuned in just as he finished giving his verdict on what he thinks is/will happen to them! Can anyone that heard it give us a summary.

So, if Chainrai owns the whole shooting match (minus Gaydamaks surrounding land)...... what exactly does Al Mirage "the owner" own??