Whitey Grandad

It affects liquidity, not solvency.

So they have chosen to give money to a new player instead of HMRC? That'll put the settlement figure up by a few million.

Nej tak

Again, from the Fa website: Grant charged Thursday, 11 February, 2010 Portsmouth manager Avram Grant has been charged with improper conduct. The charge relates to Grant’s behaviour towards referee Kevin Friend at the conclusion of the first half of Portsmouth’s match against Sunderland at Fratton Park on 9 February. Grant has until 6pm on 18 February to admit or deny the charge. A Regulatory Commission will hear the charge by or before 5 March.

From the FA site: Portsmouth FCRICARDO ROCHA-AZEVEDO09/02/2010 Suspended from all first team football until the Club have completed 1 first team match for a Sending Off in a match played on 09/02/2010.

They're always the first to know.

The TV money pays Storrie's salary for two months.

There's also the TV money, £247,500 each club.

Liquidation would be a different kettle of fish....

I think you'll find that's the job of HMRC.

And they lose regularly at such places.

I was just reporting what I had read in the papers, but I expect that they know less than us.

The PAYE is legally due irrespective of the VAT. They cannot choose to withhold it because they dispute the VAT.

The stadium is security against a loan that he gave to the club. The club defaulted on repayments to him which invoked a clause in the loan agreement that means that he takes ownership of the club. Then follows the 'fit and proper person' test before the PL allow him to own it, if I understand it all correctly.

Heart says Saints win, head says lose by a couple of goals. In cases like this I always look at each team and try to estimate the number of goals that they will get. I reckon they'll get 2 or 3 and we'll get 1 or 2, but who knows? Maybe playing in a full stadium will get to their players and they'll be full of nerves. If we can get the first couple of goals then maybe their heads will drop knowing that they not even be employed when the next round comes along.

Do you know, I'd completely forgotten about him.

Thanks for that.

Hmmm... even if they get a big injection of cash in the next few days, may it not still be the case that they have been 'trading while insolvent'?

Looking at all the figures regarding income and expenditure I cannot see how their business model was ever viable. They must have planned for continuous injections of cash for several seasons, and they would have also needed a new stadium and european football. So what suddenly changed?

That's an interesting point. If they are wound up, what happens to any parachute payments? I know that if a relegated team gets promoted then the following season their second year's payments are shared amongst the other CCC clubs.

Any names?

The debt for the mortgae would have been the amount owing. Depending on the terms of the contract there pay have been 'penalties' for early repayment of the debt, but it's not normally like hire purchase where you are liable for all the interest, even if you settle early. Having said that, the new buyer may have come to an agreement with the mortgagers to settle for less than the debt.

You see, that's the part that I have difficulty with. :confused:

But who would we play? :confused:

Their liabilities over that period exceed their expected income.