pedg

They don't pay that though do they

Question is have any of their new loans been secured against the TV money? If so what happens now?

So, so far today... James left but they are still having to pay half his wages All sky money going to other clubs Embargo still in place Redknapp charged, increasing chance of some penalty for club. Will be interesting to see how they put a positive spin on that lot! --- oh, and all we need now for the complete set is for their case requesting the winding up order be thrown out of court and to lose their VAT case.

James gone to Stoke on a 50/50 salary deal.

Confirmation on SSN to say sky money gone to other clubs and no information on embago so assumed still in place.

That's completely shocking!!! How can it only be 2 cases???

They will dispute the level of treason they are accused of and will go to court to prove it was at most low treason and they demand a treason rebate.

He must the 'fat' on the bones of their squad that Mark Jacob was talking about..

I guess if they can prove that those in charge of pompey have been acting illegally rather than just foolishly then they could sanction them for that without taking too much of the blame themselves?? A case of "Honest it all went wrong for them because of their dodgy dealings which we knew nothing about honest gov" as opposed to "It all went wrong for them because we let them get away with being profligate so its our fault as well".

Here is cheery random rumour for you... http://www.football-rumours.co.uk/ 14 Jan 2010 04:43:19 Portsmouth's finances are to be checked over by an independent panel, to check for any signs of fraud/financial mismanagement. I know this, as I work for Grant Thornton and we've been asked by the Premier League to investigate. There could well be jail terms handed out or lifetime bans handed out to directors at the club, and Milan Mandaric is also set to answer questions about his involvement in fraud and corruption whilst chairman of Portsmouth FC.

Indeed, if pompey are telling the truth then they have found some money from somewhere and have talked other clubs into rescheduling their debts. The PL are, by the sounds of it, checking with all these creditors to see they are happy. What it does not mention at all is the PL's more recent constraint on the general state of the pompey finances?

http://www.thesun.co.uk/sol/homepage/sport/football/2807083/Pompey-hit-by-new-ban-blow.html PORTSMOUTH have failed to get their transfer embargo lifted. The Fratton Park crisis club were hoping to have the ban overturned yesterday following talks with Premier League chief Richard Scudamore. But Pompey have still not been able to prove that they have sorted out their transfer debts. A Premier League source revealed: "Portsmouth told us they are in the process of paying their outstanding transfer money or have rescheduled the payments. "But we still need assurances that all the clubs involved are happy with these arrangements. "Until we receive that, Portsmouth will not receive their scheduled TV payment from the Premier League and the embargo will remain in place."

You would think so. Maybe they are over egging the 'look how thin our squad is' line to try to persuade the PL to lift the embago? If the embago stops to registering players would it stop you registering youngsters from within your own club??

Suspect the PL are looking hopefully towards the various tax avoidance cases coming up as a guilty verdict in these would give them an excuse to dock points without reference to the general financial state that the PL have allowed them to get into.

From the guardian article its clear they are considering lifting the ban for free transfers and loans only. To some extent this may help pompey pay their debts as they have such a small squad (took only 17 rather than the 18 allowed to coventry) that selling players without getting more in would leave them possibly without enough players to forfill their fixtures. By allowing them some free transfers/loans it would allow pompey to sell some of their higher valued players to pay off some of their debts while still giving the impression that they are competing on even ground with a reasonable sized squad.

No news on the embargo till tomorrow at the earliest apparently.. http://www.guardian.co.uk/football/2010/jan/13/portsmouth-transfer-embargo-premier-league "The league is thought to be losing patience with the club, so it is not clear how amenable it would be to shifting away from the blanket ban it imposed in mid-October, to allow Grant some leeway to sign new players during the current transfer window"

Things pompey will have to do to stay up: 1) Win there cases against the taxman or pay up 2) Pay their wages till the end of the season 3) Pay Gaddyboy his 9 million 4) Pay other remaining football debts not covered by TV money, at least 3 million? 5) Avoid penalty if Story, Milan and/or Harry found guilty of dodgy accounting. oh, and win a few more matches.

according to: http://www.portsmouth.co.uk/frattonlatest/Pompey-wait-on-embargo-verdict.5976996.jp "A decision is expected in the next 36 hours." Though heaven knows why it would take that long. Its almost as if they are putting it off for as long as they can. Though it goes on to say: "And The News understands the Premier League is now trying to work out how to divide the money up fairly, as the TV funds fall some £3m short of covering Pompey's debts." So I guess the 36 hours is to try and negotiate with the various clubs who gets what from their TV money (though why they don't just give each of them 7/10th and have done with it I don't know).

I lent Al Faraj against a wall for a few minutes, and when I came back he was gone.

Talking of when we might hear about various things anyone know long we will probably have to wait to find out the result of their VAT payment appeal that is happening/starting today? Would it be a open and shut thing or will it likely go on for days?

I think its probably a movable as a pompey salary deadline. Some reports say today, some say over the next couple of days.

Article about Milan's tax problems in the Guardian: http://www.guardian.co.uk/football/2010/jan/12/milan-mandaric-clear-name-charges Interesting in that his main defence is that he avoided paying 10K in tax but that because prosecuting him for it will cost a lot more than that it should not happen.... Mandaric said the figure was closer to "$50,000 which is taxable, which is around £25,000, and 40% of that is £10,000. That is what we're talking about. The cost and expense [of the investigation, which started in April 2007] and all this aggravation and unfairness is far more than £10,000 that someone will have to pay. There is no correlation between the two. I just hope that one of these days someone will wake up and say 'What the hell is going in here?' And I know that will happen because there is no wrongdoing here." Umm, has he not just admitted that $50K was taxable but he did not pay the tax? Sounds like wrong doing to me. Also by his logic shops might as well put up signs saying "If you shoplift anything under 100 quid it will cost us more to take you to court so please go ahead".

Well the quote from the BBC implies they have done something about their outstanding debts to other clubs as that is what the PL say they are going to go and check.

According to: http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8453406.stm A Premier League spokesman told BBC Sport: "Portsmouth have provided the Premier League with new information regarding their outstanding debts to other clubs. "The Premier League Board will now check the veracity of that information." So either they have claimed they have paid some of the debts or they have got one or more clubs to postpone their claims or something? Woud be odd for them to appear before the PL and lie about things the PL can check with a few phone calls?

Well I hope they said please....