pedg

http://www.newsoftheworld.co.uk/sport/894759/POMPEY-ACCUSE-SPURS-IN-CROUCH-ROW.html Curiouser and Curiouser

"There is a general issue against the football creditors' rule but I find it interesting and surprising that there has been no challenge of Crystal Palace on this." Obviously not very good with figures then AA as even we know that the figures at Palace did not make appealing feasible (i.e. if football creditors removed HMRC still had less than 25%). Andronikou disputes the calculations and pointed out that the total claim was around £14 million as recently as February. Despite including the higher HMRC claim in his CVA document. "How the closure of a football club is in the best interests of taxpayers or the creditors is difficult to understand," said Andronikou. "It seems HMRC would rather lose £6 million and let the club die to make their point. There is someone, somewhere along the line, who has lost all perspective." How dare they actually try and enforce the rule of law I think is what he means.

Is that its official title? Sounds about right. --- Probably end up the Linvoy Primus Cheese and Dairy aisle anyway.

Does rust burn?!

Which reminds me that all his land is mortgaged, mainly to Barclay's. What are the mortgage payments on about 7M going to be given little coming in to pay them?

Do clubs not have to make a commitment (financial?) to confirm they will play all their fixtures? If they do go pop could the other clubs try and compensation from the league for the loss of earnings, after all their supporters will have one less home game to attend (and one less on season tickets obviously).

Due to a family feud on my Wife's side (one brother was a bit miffed that her dad chose to go to a Brighton cup match than his wedding so then did not speak again for about 30 years) we decided to avoid the problems of who to invite so got married on our own in Kenya instead. Effectively had the honeymoon (safari and learning to scuba dive) before the wedding which was a bit odd but worked out well.

High praise, though I do not intend to go back through the thread to check!

Trying to think what the likely scenario would be if HMRC win their appeal. I guess the judge would be probably send AA to create another CVA but he will know then that HMRC will have enough to block the CVA and will do so as he will not be able to offer the 100% the HMRC will settle for. Selling the company outside of the CVA does not remove the debts so whoever bought it would be responsible for the debts still and the team would get a 17 point or so deduction. Those still owed money would probably sue to make sure they got as much as they could of the parachute payments. Given that I don't think anyone in their right mind would buy them so its hard to some anything but oblivion sooner or later as the money runs out.

I wonder what options are open to AA if deep down he realised he is bang to rights on the court case and is almost certain to lose? Would it save his face if just before the court case he were to say "Due to the dragged out nature of the CVA and the difficulty in finding a buyer to minimise further loses to the creditors I have been left with no option but to put the club into voluntary liquidation"

"We were slightly disappointed when the apparent completed transaction to Fulham FC was rejected in favour of a smaller bid from tottenham hotspurs. When the tall footballer in question found out Mr Redknapp esquire was interested in employing his services he informed aquantances of his desire to once again ply his sporting trade under Mr Redknapps direction. We however are of the opinion that Mr Storrie, ex of this parish, was in receipt of a currency containing manilla envelope that influences his decision" or something like that..

apparently he was going to go back to pompey but would not spring for the new car parking fee's.

I guess the only thing that might be said is that 'arry was probably well aware of their need for quick cash so was able to put in a lower upfront bid having inside knowledge that it would likely be accepted. The odd thing really is why Pompey did not go back to Fulham and say 'We have an upfront bid of £9M can you do better?' or similar?

The most obvious, but least conspiratorial, answer is that pompey were desperate for the money and the 9M was all in one go where as the 11M was in stages.

The selling club has been 'done' only if they agree to sell. As I mentioned before this was not a problem pre pompey as few of the teams shelling out millions for players were considered likely to go under. This is not now the case and if I were the owner of a european team and an english team came in to buy one of my players I would be much more likely to ask for the full price upfront that pre pompeys collapse.

And where in the world of yours does the selling club come in? Yes the player may take the larger wage but he has to arrange for his current club to sell him to the club offering him more which, in a world without the FCR will mean the selling club will want more of the transfer fee upfront which could well put off the dodgy club offering silly wages on the never never.

Interestingly though from the picture on their website this is the front page story in the printed version of the news it does not appear to have made it to the online version.

F.C.Portsmouth, 0 runs, Hit own wicket.

Sounds to me like pompey were obviously in desperate need of the money even then if they preferred 9 million up front over 11 million in instalments.

Up until pompey went to the wall I suspect clubs in europe where relatively happy to sell to premier league clubs on HP as they were certain of getting their money, after all how could a team go bankrupt with all that money coming in!? I would suspect that post pompey any european team selling to a UK team will have to investigate the financial position and strength of the buying club before deciding on a higher price on the never never or a lower price up front.

http://www.guardian.co.uk/football/2010/jul/30/portsmouth-high-court-taxman I suspect that in reality the other clubs will be rooting for the taxman to win the appeal without image rights being discussed.

If they have a business model that involves always running a deficit to get success on the pitch then yes they are. Does that make you feel better?!

Depends on whether it was a football or general business related post?

Ah but this thread is about pompey and so normal rules don't apply!!

This is the one I was thinking of. http://www.guardian.co.uk/football/2010/may/27/uefa-michel-platini-club-financial-regulations Whether the expensive lawyers and accountants of the top clubs will be able to work round them is another matter.