GenevaSaint

Pancake, Richard, TwentyTwenty I feel for the normal fans I know who support Pompey, then there are the "it was worth it all for the cup brigade" or the "who cares where the money is coming from" lot. I don't shed a tear for either of those groups of "fans". Unfortunately fort Pompey fans, it's a typical cycle for them, boom and bust. If they'd have tried a little more seriously to rebuild Fratton maybe they wouldn't be in this situation now. Life in the premier league with 20k is just not substainable in the long term. But no, they spunked 131m on wages in three years!

Indeed, the next 3-6 months are going to be very very interesting. I hope there's now a full forensic investigation of the accounts to see if there's any fallout from the company trading insolvently. There ought to be, administration and -9 should not be the only punishment.

Solent live at Fratton soon, I wonder if the Storrie teller is going to come out, give a statement and promise everything will be fine in 48 hours ;-) I wonder if the loan players will now be returned, they're going to get hammered every week if they do. I guess it would be one of the first actions by the administrator.

According to the P*ompey news the first team have been paid. Nothing about the "normal" folks at the club. They quote 1.8m, I bet they've not put aside the tax and ni payments though!

"SSN - Portsmouth to go into administration on Friday as all "interested" parties have failed to meet the deadline." I guess it was Chanrai's slef imposed put up or shut up one.....

All far too much for me, I really must concentrate on my job! I thought the PL offering up the money up front was mooted but then dismissed as unfeasible? Maybe that was before the move to administration. Meh. Who cares. They're on a terminal decline as far as we can all see at the moment.

Why would the PL be paying 2-3m / month wages for Portsmouth?

Very dissapointed with Bridge.

From the P*mpey News website.... Q: What happens next? A: On Friday, the club will file its intention to appoint an administrator with the courts. It then has two weeks to enter administration officially, by returning to court with details of the firm which will administrate Pompey, and filing for full administration. Now I'm confused. As soon as they give notice to enter administration are they immediately docked 9 points? What if they avoid the WUO court appointment and someone then gave a cash injection before the two weeks are up for offical administration. Once notice is given are they legally obliged to enter admin ? Could they avoid administration and the WUO court date? I know they're unlikely to find a suitor in that time given how long it took us, but that would really suck.......

Now, I know it's an extreme possibility, but one that does exist, what if Pompey avoided relegation even with the -9. I can't see it happening, but imagine the nightmare scenario for the PL then!

Agree wholeheartedly GM, there are posters on pompey forums with a name of 26 minutes of bliss in reference to that horrendous game in 05, we're going to have 26 years of bliss! My own personal preference is that they suffer a long slow terminal decline into the oblivion of League 2 (at least) as we pass them by. Alongside this I'd like Storrie Teller, Saggy Chops and Mandick to get their just deserts in court on the tax evasion charges, whatever they may be. As a brucie bonus, the premier league and FL should do a full forensic review of their accounts and dealings in the whole affair, with a possible 25 point penalty :-)

You can't wipe the slate clean with HMRC, the debt will still be there. If HMRC doesn't approve the CVA it's another whopping points deduction -15 to start the season. Could be freefall through the leagues......

Does anyone know is Corp is Guderian on PortsmouthFans Online?

Storries "other irons in the fire"? nothing would suprise me anymore :-) Can't tell until Friday if a takeover can take place! http://www.reuters.com/article/idUSSGE61H07620100222?type=marketsNews Feb 22 (Reuters) - Thailand's Supreme Court will rule on Friday on whether to confiscate 76.6 billion baht ($2.3 billion) worth of assets belonging to the family of ousted former premier Thaksin Shinawatra.

gender

Catholocism

Apollo

Tis indeed a sorry state of affairs when your own fans are saying such things. Mero, I applaud you. AFC Pompey might be a goer, and to be honest I'd probably want the same thing if this was Saints in this plight.

Auditors for Vantis’s interim results warned shareholders that “material uncertainties associated with receipts from the Stanford insolvency ... may cast significant doubt on the company’s ability to continue as a going concern”. Not P*mpey but Vantis, the circus continues, you really really couldn't make it up.

Not all it seems at Vantis..... Smells big style especially as Vantis were at PFC before the court case as far as we can tell (AFAIK) http://www.dailymail.co.uk/news/article-1250861/Stars-face-massive-payback-demands-HMRC-probes-2bn-film-tax-loophole.html#ixzz0fo9QKJKl One accountancy firm that directed clients to the film funds now under investigation by Revenue & Customs is Vantis, writes MARTIN DELGADO. Based in Central London and with 1,000 employees across the country, it advises individuals and companies on tax-saving strategies. But last night it became clear that some of its customers did not know how much of their money was being invested with Ingenious. One Vantis client said: 'I have had no paperwork telling me how much I have invested in these film schemes.' Vantis was founded in 2002 from the merger of four accountancy firms, and since then chief executive Paul Jackson has overseen a big expansion. The stock market-listed firm was called in by the High Court last week to investigate Portsmouth Football Club, which is fighting to avoid liquidation. But Vantis has had difficulties of its own. It posted a £6.5million loss for the year to April 2009, forcing it to lay off between 15 and 20 per cent of its staff, according to industry sources. In another embarrassing development, two of its executives were charged last year in connection with an alleged £219million tax scam for wealthy clients involving Gift Aid tax relief on charitable donations. Five people, including Vantis executives David Perrin and Roy Faichney, appeared at Highbury Corner magistrates' court in North London in October. Both men have repeatedly protested their innocence and a spokesman for the company said at the time that the charges would be 'strenuously defended'. Vantis suffered another blow when it was caught up in the fallout from the multi-billion-dollar alleged fraud masterminded by American financier and cricket entrepreneur Allen Stanford, now in a Texas prison awaiting trial. Vantis was unable to collect fees for advisory work carried out on the liquidation of Stanford International Bank because Mr Stanford's assets had, in effect, been frozen by the United States and Switzerland.

Oh lordy, P*mpeys latest rich saviour is questioned over murder.... ;-) Gotta be over to buy P*mpey, what other reason would there be to visit London. Saudi Man Killed In Hotel Died Of 'Head Injury' A Saudi Arabian man found dead in London's Landmark Hotel died from compression to the neck and a head injury, according to post-mortem results. Police have also been given an extra 36 hours to question a man they arrested in connection with the incident. Sky Sources believe the arrested man is affiliated with the Saudi royal family. http://news.sky.com/skynews/Home/Saudi-Man-Found-Dead-In-Londons-Landmark-Hotel-Died-Of-Compression-To-Neck-And-A-Head-Injury/Article/201002315551262?lpos=Home_First_UK_News_Article_Teaser_Region_1&lid=ARTICLE_15551262_Saudi_Man_Found_Dead_In_Londons_Landmark_Hotel_Died_Of_Compression_To_Neck_And_A_Head_Injury

I was under the impression that Vantis were on the ground before the court case was even heard. Anyway, lets hope they dug deep and got the full status rather than some flannel. I'd guess so, they're independant professional auditors after all.

I wonder if they'll be paid late for February, that wouldn't go down to well with the courts. lol

From the BBC http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8519103.stm The financial statement is being prepared by accountancy and insolvency experts Vantis, which was appointed by the High Court to examine the club's accounts. Why oh why cant they get this right! It was Pompey who asked for Vantis to come in.

Our very own PFC123 getting concerned about the Guardian article, lol. pfc123 Posted on 17/02/2010 10:16 Filing for administration today? Email Message To A Friend | Reply To Message ------------------------------------------------------------------------------- I've just emailed the sports editor asking him to reply clarifying the line about administration. IF I get a reply I'll post it up asap......