Kingsbridge Saint

I am sure all this is rumour mill bullsh1t and we should stop perpetuating it by starting threads, calling 606 etc. If Pardew stays, we go up next season imo. If he goes, a rebuilding process starts and it won't matter if it's Hughes, Hoddle or fecking Mourinho - we would stand less chance of going up than if we have stability and Pardew. FFS have we learnt nothing?

Comical. Refers to Saints fans as being uneducated but can't even spell properly. Gimp.

Sorry to be the only dissenting voice on this thread. But I hope Millwall feck it up royally after the way they played at Huddersfield. They were complete trousers and if we can't beat that bunch of muppets next season it will be a sorry state of affairs.

Fish out of water.

Whoever called 606 with that needs a kick up the arse. Yeah, great - lets perpetuate a rumour that our manager is getting the sack and it might come true!! Then we can have a preseason rebuilding and the first half of next season trying to gel in time for a late run at the playoffs. FFS.

Not sure there'd be much time if the CVA is rejected. At best it would be a fire sale and realisable values would plummet. It is interesting that HMRC have implied they will back the CVA only on condition that liquidation of Portsmouth City Football Club Ltd follows. That means that legally they can go after the company directors for the balance of the money they are owed beyond the 20% or so they get through the CVA. If I was Chanrai or Storrie I would be heading for the hills.....who else is exposed?

Because Androids plan is to liquidate Portsmouth City Football Club Ltd regardless - he said so last night. There has always been a points deduction in these cases, regardless of where the football club sits in the structure.

The Football League will not allow them to start on 0 in the proposed circumstances, or their integrity and reputation for treating all clubs fairly will be completely shot to pieces. They have been very consistent with this in the past. I think the CVA will be agreed because the players contracts revert to the football authorities in a liquidation if it isn't agreed. That means the creditors would get much less than under the CVA. The Revenue could now block the CVA to make an example of them, effectively writing off 7M from the public purse as a deterrent to others in future, but would take down the other creditors as well so I think they are unlikely to do that. So most likely scenario is now CVA agreed, and Pompey play on next season probably under a points penalty in the Championship, with a low quality playing squad trying to generate 25M a season to wipe it's own backside. So it might be fun for years to come!

football debts are unsecured for the purposes of this exercise. So they are part of the total. Whether they would vote for or against it is irrelevant. Though they would be crazy to oppose it of course.

Like Steve said - it's only the unsecured creditors. So you need to deduct Baloo's 14m. 34.2/124 or so = 27.5% approx.

HMRC have levied the 100% penalty they are legally allowed to do in circumstances like this. It's a masterstroke alright. They may well have done it deliberately to get over the 25% threshold so they can block the CVA to make an example of pompey to the rest of football. Or alternatively they are just maximising their return from the CVA. Hope it's the former. i think the 50M owed to the pension fund will be batted away - apparently Android wasn't fazed.

That almost certainly wouldn't even cover the interest on the finance required by the creditors to plug the hole in the finances caused by the debt due from Pompey. Laughable. The creditors should hang the bastards out to dry - liquidate them, lose the parachute money and let the football creditors stand in line too. The end result would be much the same I reckon. Over to you HMRC.....

Not necessarily. Although the parachute payments would be gone there would be no need to pay the football creditors first.....

Can someone please post a link to the iplayer programme when it comes out? Ta.

Cheers Mr Burwood You add absolutely no value with your response whatsoever. And if I was your boss you would be fired for not being more proactive with PR to limit the damage caused by Pompey debasing your competition on a global level.

Ridiculous cheap shot by low life journo who can't even spell 'handsome'. Probably a jealous Skate. Despite the -10 and inheriting the crappest squad ever Pards got us up to 7th and probably will finish with a points total that would have made the play offs in a different year. And he won a cup at Wembley. If Cortese gets rid of him he is off his rocker.

I was just wondering how Pompey ended up with the idiot they have as a manager? Did someone say there was a grant available?

Seriously it's time the FA got the Premier League under control. With money and power come responsibility. The parachute payments system is wrecking our national game. There is a distortion of natural justice in an administration (it perpetuates the football creditors rule by only being available for payment if you comply) and it is creating a Premier League 2 by default. We already have a Premier League that might lead the world, but is in no way the 'English' Premier League. Every mercenary in world football wants to play in the PL. The PL must be stopped from continuing on its current course now. They have allowed situations like Pompeys to evolve due to their casual disregard of the principles of best corporate governance and there will be many many more abuses like Pompey's unless they are brought to heel. God knows what will happen to the PL house of cards, and the game in England when the government finally crack Skys monopolistic market position and the money dries up........ The FA should realise they have a chance now to sort it out for the good of the game, by using the Skates as an example - or in due course there will be government regulation enforced on the game through them rather than by them.

If anyone from HMRC is reading this have they tried to have their debt reclassified as a footballing debt? I think they would have a point as it is largely tax and national insurance on player salaries - and payments to players are classified as football creditors. That would mean the cheating bastards would have to pay their tax in full at least. Or lose the parachute payments and go bust.

And there, in a nutshell, is why the Revenue won't oppose the CVA. If they shut down Pompey, it's 48 Million down the Swannee (about 28 Million net of the football creditors). So the Revenue, and all the other creditors take a hit if Pompey are forced to fold, or fail to fulfil the obligations imposed by the football creditors rule. The Revenue could be brave and make an example of them though to stop this abuse of the public purse from recurring. Although clearly there would be collateral damage to the other creditors. Personally I think football finances generally are headed for a crash as the whole house of cards is totally unsustainable and if HMRC don't make a stand soon they are going to get shafted like this over and over and over again.

Unbelievable. Words fail me. How can the pillock say they deserve a place in Europe when they have cheated thier way to the FA Cup final, and despite the cheating, were still one of the 3 crappest sides in the Premier League? On what basis do they 'deserve' it? It's nonsense.

Are the FA really going to sit on their hands and do nothing about the global event that is the FA Cup Final whilst this sh1t storm erupts across the British national media? Their showcase final includes a basket case of a club that illustrates all that is wrong with professional football in the UK, and they have got to the final using players they should never have had. The Premier League have sanctioned them (slap on the wrists only in my opinion) but the FA have done absolutely nothing. Shame on them.

Just been crunching the numbers and I reckon HMRC will have to settle for 23p in the pound like all the other unsecured creditors and Pompey will get away with it. The football creditors rule (unless it's legality is challenged again) will mean that the football creditors will get paid in full out of the first two years parachute money, and then Baloo will get his money too as a secured creditor. That will leave the unsecured creditors with 23% of their money, again out of the parachute payments in years 3 and 4. I think that if the CVA is not agreed then that could lead to a winding up order and then everyone loses as there are no parachute payments? Therefore the CVA will probably be agreed and Pompey will take their place in the Championship next season, although with a decimated squad that should see them go straight through to League 1. Who will really be happy with that outcome? Not us, not the unsecured creditors, not Gaydamak, not the blue few. I guess the football creditors are laughing, as will be Baloo and all the other executives and directors who presided over such a disgraceful state of affairs and seem on the brink of getting away with it without prosecution. The EPL, the FA and British Company Law (as it relates to the football creditor rule in an insolvency and how it deals with wrongful trading by directors) need to take a long hard look in the mirror. This years FA Cup Final is now a farce on a global stage, contested by a side put together by confidence tricksters and corporate vandals, that is completely unable to wipe its own backside financially and has cheated other more deserving clubs of a place at Wembley.

What no Millwall players? What a surprise.

Enjoyed the win, and the season. Considering we were always going to take a while to get going after the car crash of a squad Pardew inherited he has done a good job this season. We simply have to go up next year though - so 1st or 2nd please Pards.