pedg

I don't know you might expect that after a hard day putting off paying bills at work we would retire to his palatial estate to spend a happy evening counting the bank notes from his salary that month.

http://soccernet.espn.go.com/news/story?id=742023&sec=england&cc=5739 Portsmouth chief executive Peter Storrie and his wife were attacked after Portsmouth's 4-1 FA Cup victory over Southampton on Saturday, with Saints fans shoving bank notes in their faces. Vicious weapon the banknote you know! --- "Abuse is one thing but this was intimidation. I have to say it was as serious as that, and we did think we would shortly be physically attacked if the stewards hasn't arrived so quickly. So they were not actually "attacked" just some people viciously taunting them with bank notes.

Story's friends at ESPN now claiming that Utaka only on a third of the salary he is claimed to be on: http://www.espn.co.uk/football/sport/story/6991.html You would have thought they would have nipped that one in the bud a bit earlier if true? Maybe he is on 1/3 salary, 2/3 images rights??

I did spot that but now a few more article's appearing so obviously going on a bit of a media offensive. Looks like they are trying to say to people 'We are not suggesting doing this for the benefit of pompey, oh no, we are suggesting it for the benefit of the Premier League, which god has ordained should have 20 clubs at all times.".

I see David Gold at west ham is very keen on the PL bailing out pompey, I wonder why?

from 2001 http://www.independent.co.uk/sport/football/premier-league/irish-racing-tycoons-ponder-takeover-bid-for-man-utd-678270.html The most flamboyant gambler in British horseracing admitted last night to the biggest punt of his career – buying nearly 10 million shares in Manchester United in a move that may herald a bid for the entire club. The most flamboyant gambler in British horseracing admitted last night to the biggest punt of his career – buying nearly 10 million shares in Manchester United in a move that may herald a bid for the entire club. J P McManus, who started his working life driving a JCB, said he was the man behind the mystery company, Cubic Expression, that now controls 6.8 per cent of Manchester United plc. His partner in the hitherto unknown company, John Magnier, owns Coolmore, the most valuable stud farm in Europe and, like Mr McManus, is a longstanding United fan. I thought that cubic expression was a vehicle created by those 2 united fans for the sole purpose of trying to buy Man U. Since that failed has it actually be active at all?

Plus not values are presented so in the given form its unsolvable.

One interesting thing to note from the article is "The statement of affairs is being presented to the courts on Wednesday, when we shall have a much better idea of proceedings, and also a much better idea about the prospective takeover." So if you believe that they will not be getting money to pay of HMRC before Wednesday and will be presenting the statement of affairs. Given its hard to see how this will not show they have been trading while insolvent you would think they would be trying hard to avoid doing this so slightly odd they appear to be happy for it to be presented to court?

See that article goes on again about them being worried about the effect on the table should pompey be wound up but at the end of the day you get a table comparing teams that have competed legally and that could be considered as more accurate than one that includes a team that has both been competing illegally and had special treatment to allow them to finish.

Corp said to check the sunday mirror today but all they have is this: http://www.mirrorfootball.co.uk/news/West-Ham-trio-David-Sullivan-David-Gold-and-Karren-Brady-behind-plan-to-help-rescue-Portsmouth-article322551.html West Ham were behind the plan to advance Portsmouth parachute money to ensure they survived until the and of this season. Premier League chief *Richard Scudamore was a guest of the club when they played Birmingham at Upton Park last Wednesday night. And David Sullivan, David Gold and Karren Brady *suggested the rival 19 clubs should bail out *Pompey out by advancing them money due this summer. It was even suggested that the other clubs could loan Pompey £500,000 each to prevent the HMRC from winding them up. ... Scudamore dismissed the plan and was horrified when the plan was leaked to the media and given credibility the *following day. The League were then forced to issue a statement that said: “The Premier League has very specific rules regarding what happens if a club suffers an insolvency event. We will not act *outside these rules or in a way that would undermine the *competition’s integrity.” ... Storrie added: “We have two serious bidders for the club, but are also looking at other financial solutions.” If that's good news for Corp hate to see what his bad news for pompey looks like! -- Maybe he meant this one: http://www.mirrorfootball.co.uk/opinion/columnists/brian-reade/Brian-Reade-column-Why-Portsmouth-Liverpool-and-Manchester-United-fans-must-take-a-stand-to-save-their-clubs-and-Kevin-Phillips-has-more-chance-of-going-to-the-World-Cup-than-Michael-Owen-article321633.html Or this one: http://www.mirrorfootball.co.uk/opinion/columnists/steve-stammers/Portsmouth-s-latest-woes-are-a-real-sob-Storrie-Steve-Stammers-column-article309687.html

http://timesonline.typepad.com/thegame/2010/02/ahead-of-thegame-high-wages-hindered-portsmouth-sales.html Simon Reeves asked: Why on earth did Portsmouth not do more to sell its first-team players in January? A quick bit of arithmetic suggests at least £15 million could have been raised, relieving the club of its highest earners and ensuring we could see out the season. Nick Szczepanik responded: "I understand that the club were indeed desperate to unload their highest earners - in particular John Utaka, David Nugent and David James. "In the end, however, there were no bids that made any commercial sense for them, and Younes Kaboul and Asmir Begovic were the only players who could command decent fees. "Even if they had been willing to let players go for nothing, the problem with most of the Portsmouth players is their ridiculously high wages. "The players would refuse to take a pay cut to move, so Portsmouth would have had to agree to continue to pay a large percentage of their wages - as Leeds did when they sold Robbie Fowler to Manchester City. They are still paying a large chunk of Nugent's wages while he is on loan at Burnley. "So Portsmouth had almost priced their own players out of the resale market by giving them such generous contracts in the first place."

Some say that the majority of saints fan's want pompey to go out of business. Others say the majority want them to survive but to suffer for their excesses. Obviously there is only one way to decide... or failing that may be a poll?

So they are playing just down the road yet still put the team up in a hotel???

Possibly because he has convinced them (if they actually exist!) that pompey still have chance of staying up and that it would be cheaper to try and stay up without admin than risk disappearing into the championship where many sides have shown that an automatic return can be a pipe dream.

Just remember next time you see pompey up for sale on ebay best not to bid as it might not be a joke.

Well everything will have to be auctioned off so I guess there will be quiet few owners of bits of pompey.

Plus if they waited for pompey to submit their accounts they might never get their report out.

How exactly is 90% of income on wages 'Not that high'?

It would still be a loophole as by not going into admin they would lose the likely much larger penalties that would come with them exiting admin, assuming they failed to agree a CVA with HMRC. Anyway the advanced payment would only cover their tax debt and they have very little money to get to the end of the season and still a mountain of debt.

In more hard to believe news: http://www.dailymail.co.uk/sport/football/article-1250531/Spurs-boss-Harry-Redknapp-shocked-Portsmouths-fall-grace.html Tottenham boss Harry Redknapp admits he is stunned by Portsmouth's plight since leading them to FA Cup glory at Wembley. After all he had nothing to do with them living beyond their means for so long did he....

I thought the opinion was that admin was still an option but it was unlikely that any of the creditors would put them into admin, and they can't do it themselves.

http://www.skysports.com/story/0,19528,11661_5945196,00.html A poll conducted by Sky Sports News shows support from other Premier League chairmen to ensure Portsmouth's survival this season - but only if it doesn't give them a competitive advantage. Club sources say they would prefer Portsmouth to receive a 'parachute payment' only if the Pompey went into administration and was docked nine points as per Premier League rules.

Probably not but I guess my sort of point was that, assuming the report shows the gory details of there insolvency then they will be try hard to stop that report reaching the hands of HMRC who could then, one assumes, pass it on to other parties to prosecute pompey even if pompey found the money to pay off HMRC before the due date.

Who knows with Agent Orange in charge? Maybe they settled for a fixed price.

Is there anything to stop Vantis (besides the complexity of the accounts obviously) getting a move on and delivering it to the court early? After all its to be delivery BY that date not ON that date. Not going to happen but would be funny if it did!