benjii

The football creditors rule has no formal legal status. In a liquidation it could be ignored. Football creditors would rank alongside HMRC and all the local suppliers. That said, even a dividend of 20p is probably more than unsecured creditors would get in a liquidation. I would imagine that the parachute payments are not payable to a liquidated company (although who knows whether the authorities have the appropriate contractual documentation in place). That leaves the only cash pot as being the proceeds of sale of Krap Nottarf (as players would leave for free). That would probably not even pay Chanrai back so unsecured creditors would get zip.

AA says some odd things. Obviously, a CVA involving a 1p dividend is more attractive to potential purchasers than a CVA involving a 65p dividend. Whatever. That's not the purpose of administration. I really don't understand why he keeps making public statements that back up allegations that have been made against him. If he just kept quiet and got it with it there would be much less smoke - even if he offered a hopeless CVA. I would like someone to ask him why promotion to the PL would only increase the dividend by 5p. Promotion would be a guaranteed £100m+ in extra revenue. There is absolutely no reason why promotion couldn't lead to a dividend at 80p +.

It's not difficult is it? You have a history of buying things you can't afford and abusing the credit of others. You are insolvent - fact. You have massively negative assets - fact. You are relying on the goodwill of a creditor to service your day-to-day running costs - fact. You enjoyed relative success off the back of this credit abuse - fact. You have, presently, a stronger squad than many of your divisional rivals as a result of this. You want to spend money on players to gain a further advantage over teams who are not insolvent and operate within the spirit of fair play - get stuffed. It really hasn't sunk in yet to a lot of skates that footballing decline is inevitable. To be fair, AA hasn't helped by spouting off about forming a decent squad of high qulity frees etc...

Don't ban Wilts! He's the only thing worth reading Wiltsy, turn it down a bit old bean, we'd hate to lose you.

at UHY saying the Griffin's proposal would "send out the wrong message" to football clubs and encourage profligacy. They need to work a bit harder on their propoganda.

+1. What would have been annoying is if they had escaped a points deduciotn and come out of this witha compromise which allows them to maintain a decent playing squad. This intervention by Griffins and HMRC confirming that AA's CVA is unaaceptable should hopefully ensure that the well-deserved reality of their predicament bites: years of being run on a shoestring and existing primarily to service debt rather than seek footballing success.

I see now - I have the poster of that link on ignore so didn't realise until someone quoted it. This is not news though. Stockport were in admin when last season started weren't they? In fact, are they still? They will be due a deduction this season if that's the case. Ouch - non-league time for them!

Everything alright, dear?

Yep, so a tad under £10k a week for a top player/club & team captain.

Nah. In 2006 the average wage of a CCC player was just under £200k p.a. So under £4k per week. It's probably more now but not a lot more. It will also be skewed hugely by players from teams like Newcastle, West Brom etc.. who will pay a lot more to their top earners than the likes of Blackpool and Barnsley do. £10k per week would put you in the top-earner bracket in the CCC easily. £15k per wek for an average squad player is utter rubbish.

Corden is, it seems, a dalendless shid.

LMAO ho ho ho. Clearly the club does not believe an installment plan will gain it maximum revenue in the long term. If it did, it would offer one.

You have to be able to pay your debts as they fall due, not based on an aggregation of your next five years' revenue and a unilaterally imposed installment plan!

Indeed. The Griffin plan actually assumes the skates suffer consecutive relegations in the next two years to League Two. If they stay in the Champ there will be an additional seven or eight million of tv money fir the creditors not currently accounted for in the plan.

With a central midfielder at right back! ****ing mental.

In fairness to that guy, he clearly doesn't understand.

Yeah, but by going on holiday he is standing up for the "working, average man's" right to go on holiday. If he didn't jet off to the sun he would be the emodiment of the bourgeoise-enslaved workhorse, alienated and dehumanised, cast adrift on the capitalist slag-heap of the soul. This holiday is good news for all average working men everywhere.

It's only a few internet weirdos and Echo rent-a-quotes who feel the need to be "communicated" too constantly like a small baby though. 99% of Saints' "customers" I expect are perfectly happy and looking forward to next season. "all this negativity" really doesn't exist outside the odd minds of a small number.

Oldham had an article about their cleaners' vacuums being serviced the other day

I think the pitch should be patterned in installments.

Because AA wants to run PFC as one of the biggest spending Championship clubs. Griffin have pointed out that this is absurd.

For those who can't be bothered to read the Griffin document, these two paragraphs sum it up in a nutshell: The Administrators have sought to strike a balance between the company and its creditors. We think that the Administrators have not placed enough emphasis on the position of creditors and the club will retain too much of the benefit of its recent expenditure on the team which will be available cheaply to any future owner. The proposals seek to allow the club to spend large sums on getting back to the FA Premier League but the creditors will not benefit substantially from this expenditure. Funnily enough, it's what a lot of us have been saying!

We can't "go after the bankers" because we now own many of the banks. The reason for that... it's certainly not the Tories. A typical left-wing attitude though that someone needs to be "gone after". Preferably someone doing well. Someone we we can drag down a peg or two. Teach them a lesson from the university of life. Give them a trip to the school of hard knocks... blah, blah, blah.

Can someone tell me what he said please?

He'll just say that unless PFC get relegated to the tyro league and the FA drink the blood of every citizen of portsmouth they have got away with it.