Weston Saint

Most of Mr Cortese's vision seems to be the same Mr Lowe wanted. It is just Cortese has the communication skill and a lot more money behind him. Excellent interview

Good game despite a very poor ref (and it has to be said, his assistant on the Itchen side who seemed to keep his flag down a bit too mutch) Our Manager says Leeds are the best team and one we need to aspire to. Well Mr Pardew, your team made them look poor. Well worth our win. I am a happy bunny tonight.

He is about and regularly reads this thread but even he will not poke his finger into pompey's poo. There are limits you know

If and when PFC get knocked out of FA cup semi will some of the loan players be released back to their clubs to save wages?.

Administrator explains plus Players looking to pay some of the training staff wages. http://www.portsmouth.co.uk/frattonlatest/Administrator-to-probe-Pompey-payments.6147409.jp Jacob slams years of excess and says he never received any salary http://www.portsmouth.co.uk/frattonlatest/Jacob-slams-39years-of-excess39.6147856.jp

Assuming no late injuries I am expecting the same side to start as started the previous few games. Will be a tight one and I think, on recent home form we will just shade it 2-1

My understanding is that if they do not pay their football special creditor debts they will not be able to play in the league. It has not happened before to any club coming out of administration so there is no precedent only the laid down rules of membership

They have to write and apply for it as they are in administration. I suspect FA will insist it be held back for football creditors. How that will lay with the insolvency laws of the land I do not know.

Best realistic case outcome for PFC: -9 and relegation Starting next season with a new owner but most of the "premier players" moving on. Loans and Frees with low value transfers. Stability in a few years. Worse case: No buyer and liquidation at the end of the season. Not sure yet whether HMRC will represent more that 25% and therefore -15 next season

HMRC have accepted chainrai has a legal right to be a secure creditor. Therefore he can put them into Administration and the winding up order is stayed. HMRC now become an unsecure creditor and have to wait in line like all other unsecure creditors. Expect a creditors meeting in about 8 weeks where they will be told by the Administrator the progress he is making in trying to recover some of their losses. Once the Administrator has found a willing buyer he will tell the unsecure creditors what % in the pound they can expect and ask them to agree a Creditors Voluntary Agreement for that %. If HMRC have an interest of more than 25% of the unsecure credtitors amount they will refuse to sign and Pompey will exit without such agreement. As the Football League insist on a CVA to carry on playing in the league PFC will have to ask them to come back without. In the past FL have allocated an additional 15 points penalty

Well done T. Ron.

Probably looking down the barrel of Administration. Remember Chester did not contest the Winding Up order in the end

Nothing to do with precedents. The law states that if a secure creditor puts the business into administration any winding up order is stayed. HMRC accept Chainrai is a secure creditor. Therefore the stay will be put in place. They may not be happy (and nor should they) but throwing more money at a forgone conclusion is a waste of taxpayers money. As I have said previously if there are any wrong doings the Administrator is legally bound to report it to the right authority ie Fraud Unit or Money Laundering Unit.

Nick, They have to play Liverpool & Spurs away with Chelsea and Aston Villa at home. Unlikely they will get any points from the. That leaves 6. Let's say they win them all 18points, less 9 penalty puts them on 28 points at end of the season. At present Hull, Burnley and Wolves have 24, West Ham 27 and Wigan 28. It is a certainty they will be going down. Even the bookies have stopped bets and are paying out already.

Exactly

Not heard any more. May have been one of those rumours that had no real basis.

The SoA is superceeded by the Administration. If there are any criminal discrepancies that is for the Administrator to report to the correct authorities ie the police fraud unit

No that will be the end of their involvement. All they can do now is sit and wait for the creditors meeting. If any decision is made to liquidate the club because of a lack of buyer for the Football Club and continuing shortfall of revenue it will be the Administrators decision. He has all the power now that HMRC are not challenging his appointment further.

If HMRC are not persuing then they are obviously satisfied with the documentation the Administrator has produced. They did say they were not against Administration as such. So we are now in a position where -9 will apply. Even trying to be generous to PFC on points from remaining matches and having them 15th in the table, applying the -9 bought them back to 19th. We can content ourselves that Administration has damaged them and they are going to have to cut back even further and that assumes they will find a buyer. The game is not up, it is just moving into a new phase and PFC is still on the critical list

No. Another of my contact is out of the loop at present so cannot contact his source.

Nugent has just equalized for Burnley against Stoke. Poetic justice for Pompey

Guardian report of press conference http://www.guardian.co.uk/football/2010/mar/10/portsmouth-redundancies-football-premier-league

Before the job cuts the club had a staff of 166 full-time employees, and 154 part-time.

Important we do not forget the 85 employees who have lost a livelyhood they can ill afford. A sad day and all that has gone on will have been completely beyond their control. As for Storrie, the Administrator clearly thinks he needs him for the present as the link to the clubs day to day football affairs. He has, says the Administrator, taken a 40% pay cut. So what! He is the catalyst of this whole sorry story of incompetence and serial overspending. He says he has had positive talks with HMRC yesterday and passed documents showing Chainrai's involvement and right to be a preferred creditor and therefore able to appoint him as Administrator. He expects the HMRC to respond tomorrow. He has not cut any of the players wages. A couple have expressed a view of taking a pay cut but nothing has happened. They are protected by the PFA in the event the business collapses. He says he has the full co-operation of the PL & FL (sounds like he is planning for FL as he should) He did not suggest any interested parties at advanced discussions. Anyone expressing an interest will have to pay a small administration fee to get any details. Anyone wishing to go further will have to produce proof of funds. So let us wait and see. The -9 is a given and so is relegation.

Widley Chimes is the friend I was referring to