trousers Posted 12 July, 2012 Share Posted 12 July, 2012 @solentsport: Mokoena latest to depart Pompey: Portsmouth reach agreement with Aaron Mokoena over the termination of his contr... http://t.co/odMUwkVR Link to comment Share on other sites More sharing options...
trousers Posted 12 July, 2012 Share Posted 12 July, 2012 (edited) Aaron Mokoena officially released on a "compromise agreement over money outstanding"... http://www.portsmouthfc.co.uk/LatestNews/news/Mokoena-Agrees-Fratton-Exit-3520.aspx So a Football Creditor not paid in full and railroaded into a reduced deal! Yeah....but he "agreed" to it ergo they haven't failed to pay him what he has now agreed to be owed... That's how finances work down Pompey way... Carlsberg don't do moving goalposts, but if they did.... Edited 12 July, 2012 by trousers Link to comment Share on other sites More sharing options...
Danish Saint Posted 12 July, 2012 Share Posted 12 July, 2012 (edited) Just looking at their first team profile on their OS is laughable. They have: Goalkeepers: NONE Defenders: Aaron Mokoena (Will be gone by the end of the week) Greg Halford Tal Ben-Haim (30k a week) Adam Webster (Will surely get a starting place) Midfielders: Liam Lawrence (Won't stay) David Norris (On verge of moving to Leeds) Attackers: Kanu (Hasn't returned and probably won't) Dave Kitson Ashley Harris Luke Varney (On verge of moving) Erik Huseklepp That's it. Even with free transfers, I think they'd struggle in league two. You can also add Huseklepp to the list of players on the way out. Rosenborg is ready with a bid, according to his agent, who also mentions other foreign and Norwegian clubs interested in getting him. http://www.nrk.no/nyheter/distrikt/hordaland/1.8241488 Edited 12 July, 2012 by Danish Saint Link to comment Share on other sites More sharing options...
dubai_phil Posted 12 July, 2012 Share Posted 12 July, 2012 Matt Slater @mattslaterbbc Football League says #pompey can start in L1 but will have to accept 10pt penalty & must pay football creditors in full #pfc Link to comment Share on other sites More sharing options...
Verbal Posted 12 July, 2012 Share Posted 12 July, 2012 Matt Slater @mattslaterbbc Football League says #pompey can start in L1 but will have to accept 10pt penalty & must pay football creditors in full #pfc Now we're getting somewhere. Link to comment Share on other sites More sharing options...
merrimd Posted 12 July, 2012 Share Posted 12 July, 2012 Matt Slater @mattslaterbbc Football League says #pompey can start in L1 but will have to accept 10pt penalty & must pay football creditors in full #pfc Just got a bit chilly on the island! Link to comment Share on other sites More sharing options...
dubai_phil Posted 12 July, 2012 Share Posted 12 July, 2012 Could be a HOT NEWS find by D_P there. Matt is usually on the ball Link to comment Share on other sites More sharing options...
dubai_phil Posted 12 July, 2012 Share Posted 12 July, 2012 Matt Slater @mattslaterbbc Football League says #pompey can start in L1 but will have to accept 10pt penalty & must pay football creditors in full #pfc And there is a nail in the coffin right there Link to comment Share on other sites More sharing options...
Appy Posted 12 July, 2012 Share Posted 12 July, 2012 Pompey still 7/2 to go down on 365. Just got on that, will drop sharpish. Link to comment Share on other sites More sharing options...
Verbal Posted 12 July, 2012 Share Posted 12 July, 2012 I bet Mokoena is feeling a bit sick right now. Link to comment Share on other sites More sharing options...
dubai_phil Posted 12 July, 2012 Share Posted 12 July, 2012 Matt Slater @mattslaterbbc FL ruling a mixed bag 4 Pompey fans trying to buy club. Getting secured creds 2 'unsecure' some debt=good, paying all FCR debt=bad Expand Reply Retweet Favorite 1m James Pearce @Pearcesport Tough for Portsmouth fans. Football League give the club permission to start the season, but with a 10 point deduction Link to comment Share on other sites More sharing options...
Hatch Posted 12 July, 2012 Share Posted 12 July, 2012 This is sounding good Link to comment Share on other sites More sharing options...
Verbal Posted 12 July, 2012 Share Posted 12 July, 2012 I'll chalk this one up as a PTS triumph. Take a bow you loonies. Link to comment Share on other sites More sharing options...
Saint Lindford Posted 12 July, 2012 Share Posted 12 July, 2012 1609: FOOTBALL http://www.bbc.co.uk/sport/0/18808327 The Football League says it will allow Portsmouth into League One for the 2012-13 season - but they will start on minus 10 points. In addition, they cannot carry all their secured debt forward, must pay all football creditors in full and submit to a number of strict financial controls. Link to comment Share on other sites More sharing options...
dubai_phil Posted 12 July, 2012 Share Posted 12 July, 2012 Right, that's it I'm off to make some toast Link to comment Share on other sites More sharing options...
trousers Posted 12 July, 2012 Share Posted 12 July, 2012 Matt Slater @mattslaterbbc Football League says #pompey can start in L1 but will have to accept 10pt penalty & must pay football creditors in full #pfc Yes, but is that "pay in full" as in what they were originally owed or "pay in full" what they have been 'forced' to accept by way of a compromise settlement....? Link to comment Share on other sites More sharing options...
stevegrant Posted 12 July, 2012 Share Posted 12 July, 2012 And there we go It's all irrelevant until they actually confirm that someone will be buying the club and taking it out of administration. At this stage, I'll still be quite surprised if they manage to start the season. Link to comment Share on other sites More sharing options...
Gemmel Posted 12 July, 2012 Share Posted 12 July, 2012 The Board of The Football League has agreed to make an offer of membership to the eventual purchaser of Portsmouth Football Club. The offer is subject to the successful bidder accepting a number of conditions that seek to ensure the sporting integrity of league football and the financial viability of the Club going forward. The Football League Board has absolute discretion as to whether to admit any new company as a member of The League. In doing so, it has to strike a balance between giving a club another chance and the effect this has on sporting competition between clubs. Through its Insolvency Policy, The League aims to secure the continuation of the club in its local community. In seeking to achieve this it requires that: a) all football debts have been settled in full (although these may be compromised by mutual agreement). b) creditors have been given the opportunity to indicate their satisfaction (or otherwise) at the proposed arrangements (normally through the acceptance of a Company Voluntary Arrangement (CVA)). In Portsmouth's previous administration, a significant amount of unsecured debt was compromised in a CVA approved by creditors in June 2010, with an anticipated outcome of twenty pence in the pound. In the event, these creditors had not had their claims settled prior to the Club's further administration in February 2012. Under the new CVA these claims would be further compromised to less than one penny in the pound without creditors having the opportunity to indicate whether they find this acceptable. This is because the claims rest in the liquidation of the previous company and the liquidator of that company has voted to accept the terms of the new CVA. Therefore, the Board were faced with the prospect of numerous unsecured creditors receiving less than one penny in the pound, without having the opportunity to indicate their satisfaction (or otherwise) in the normal way. In the Board's view, these arrangements do not respect a key principle of The Football League's Insolvency Policy (as described above in b). Therefore, as a condition of membership, any new company established to apply for ownership of Portsmouth Football Club's share in The Football League will be required to: 1. Accept a deduction of 10 points in the 2012/13 season; 2. Agree that only a limited proportion of the secured debt from the previous club can be carried forward into the new company as secured debt. 3. Pay all football creditors in full, unless mutually acceptable compromise agreements are put in place. 4. Agree to a range of other restrictions on playing budgets, future borrowing and loan repayments for the next 5 seasons. It will now be for the administrator to seek to finalise arrangements for the sale of the club with interested parties. The Board will consider the application for transfer of membership once the administrator has selected the final purchaser Link to comment Share on other sites More sharing options...
trousers Posted 12 July, 2012 Share Posted 12 July, 2012 -----> The Football League (at last) Link to comment Share on other sites More sharing options...
trousers Posted 12 July, 2012 Share Posted 12 July, 2012 The Board of The Football League has agreed to make an offer of membership to the eventual purchaser of Portsmouth Football Club. The offer is subject to the successful bidder accepting a number of conditions that seek to ensure the sporting integrity of league football and the financial viability of the Club going forward. The Football League Board has absolute discretion as to whether to admit any new company as a member of The League. In doing so, it has to strike a balance between giving a club another chance and the effect this has on sporting competition between clubs. Through its Insolvency Policy, The League aims to secure the continuation of the club in its local community. In seeking to achieve this it requires that: a) all football debts have been settled in full (although these may be compromised by mutual agreement). Ah...there you go....so not "in full" as your average normal person would understand it to be, but "in full" in the la la la emotional blackmail land of PFC..... Link to comment Share on other sites More sharing options...
carljack Posted 12 July, 2012 Share Posted 12 July, 2012 And there we go It's all irrelevant until they actually confirm that someone will be buying the club and taking it out of administration. At this stage, I'll still be quite surprised if they manage to start the season. Good point surely with the -10 and "stricter financial controls" they are further away than ever from being sold! SHALA LALALALAL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Link to comment Share on other sites More sharing options...
Matthew Le God Posted 12 July, 2012 Share Posted 12 July, 2012 I still don't think -10 points is enough considering they have effectively wiped out over £100m worth of debt by diluting it with a new CVA. Link to comment Share on other sites More sharing options...
stevegrant Posted 12 July, 2012 Share Posted 12 July, 2012 They were supposed to be under strict financial controls last time. That went well. Link to comment Share on other sites More sharing options...
Hatch Posted 12 July, 2012 Share Posted 12 July, 2012 They look a really attractive proposition now Link to comment Share on other sites More sharing options...
Danish Saint Posted 12 July, 2012 Share Posted 12 July, 2012 Who wants to buy an empty club with these restrictions? Link to comment Share on other sites More sharing options...
Quickfire Double Posted 12 July, 2012 Share Posted 12 July, 2012 Get the lube out Pompey, the Football League has just said "I do" to having you as its lawful wedded prison wife! Link to comment Share on other sites More sharing options...
trousers Posted 12 July, 2012 Share Posted 12 July, 2012 Who wants to buy an empty club with these restrictions? True, but don't forget the only reason Chainrai wants to regain control of the club (allegedly) is to recoup as much as he can via the Parachute Payments. He can still do that (to a certain degree) IF the players agree to the "compromise arrangements" that the Football League ruling today makes provision for. His CVA 'offer' was always conditional on this happening anyway. Chainrai won't care one jot about the -10 point penalty as long as the players can be off loaded cheaply. So, this ruling today doesn't, as far as I can tell, affect Chainrai's position one jot. Link to comment Share on other sites More sharing options...
Jimmy_D Posted 12 July, 2012 Share Posted 12 July, 2012 Link to comment Share on other sites More sharing options...
trousers Posted 12 July, 2012 Share Posted 12 July, 2012 MLG - time to dig out that quote from Birch, and the ensuing Tweet from Allen, "confirming" that the Football League won't deduct any further points from Pompey if the agree a CVA.... Link to comment Share on other sites More sharing options...
Gemmel Posted 12 July, 2012 Share Posted 12 July, 2012 Ah...there you go....so not "in full" as your average normal person would understand it to be, but "in full" in the la la la emotional blackmail land of PFC..... Don't worry about that too much Trousers..... I'm not sure kanu or TBH are in the mood to compromise :) Link to comment Share on other sites More sharing options...
Gingeletiss Posted 12 July, 2012 Share Posted 12 July, 2012 Four years I have been saying toast.........ummmm that smells so good!! Link to comment Share on other sites More sharing options...
Gemmel Posted 12 July, 2012 Share Posted 12 July, 2012 MLG - time to dig out that quote from Birch, and the ensuing Tweet from Allen, "confirming" that the Football League won't deduct any further points from Pompey if the agree a CVA.... Just go the the news web chats.... Allen posted four or five times, it was guranteed no points deductions Link to comment Share on other sites More sharing options...
sidthesquid Posted 12 July, 2012 Share Posted 12 July, 2012 I still don't think -10 points is enough considering they have effectively wiped out over £100m worth of debt by diluting it with a new CVA. I think this is the line that will ensure that justice is done - 4. Agree to a range of other restrictions on playing budgets, future borrowing and loan repayments for the next 5 seasons. Link to comment Share on other sites More sharing options...
trousers Posted 12 July, 2012 Share Posted 12 July, 2012 (edited) http://www.portsmouth.co.uk/sport/pompey/pompey-past/pompey-hit-with-points-deduction-1-4051681 mensi 4:27 PM on 12/07/2012 no doubt the stains will be on here banging one out at this news. Edited 12 July, 2012 by trousers Link to comment Share on other sites More sharing options...
CB Saint Posted 12 July, 2012 Share Posted 12 July, 2012 So my fellow nutjobs, what is the consensus - have pompey finally got what they deserved? Link to comment Share on other sites More sharing options...
Saint Keith Posted 12 July, 2012 Share Posted 12 July, 2012 Ha ha ha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha haha ha Link to comment Share on other sites More sharing options...
vindaloo73 Posted 12 July, 2012 Share Posted 12 July, 2012 methers 4:34 PM on 12/07/2012 nobody likes us but we don't care. U may be laughing now FL but u wont be when we survive next season. So u can stick ur 10 points wherever u like! Link to comment Share on other sites More sharing options...
Saint Keith Posted 12 July, 2012 Share Posted 12 July, 2012 Excuse me while i go and change ive just PMSL Link to comment Share on other sites More sharing options...
Jimmy_D Posted 12 July, 2012 Share Posted 12 July, 2012 If I was a Pompey player right now, I'd be putting my claim for money under the FCR in right now, like Kanu has done, before the pot of parachute money is all gone to other players... Link to comment Share on other sites More sharing options...
Katalinic Posted 12 July, 2012 Share Posted 12 July, 2012 Sha la la la la la la la. If Carlsberg did karma..... Link to comment Share on other sites More sharing options...
sidthesquid Posted 12 July, 2012 Share Posted 12 July, 2012 So my fellow nutjobs, what is the consensus - have pompey finally got what they deserved? It's definitely getting there - death by a thousand cuts rather than a mercy killing. Link to comment Share on other sites More sharing options...
trousers Posted 12 July, 2012 Share Posted 12 July, 2012 http://www.pkf.co.uk/pkf/news/football_industry/administrator_critical_of_%E2%80%98unjustified%E2%80%99_portsmouth_points_deduction [h=1]Administrator critical of ‘unjustified’ Portsmouth points deduction[/h] 12 July 2012: The Football League agreed at a meeting earlier today to impose a 10-point deduction for Portsmouth Football Club for the 2012/13 season. Commenting on the decision, Trevor Birch, a partner at PKF Accountants & business advisers and joint administrator of Portsmouth Football Club (2010) Ltd, said: “We are extremely disappointed that the Football League has decided to impose yet another penalty on the club. “I think most people would agree that the 10-point deduction imposed last season was sufficient, particularly as it played a huge part in the club’s relegation to League One. “The fans, players and staff have suffered enough for something for which they weren’t responsible. We feel it is unjustified for the club to be punished further. “We’ve made it clear to the League that Portsmouth needs all the help it can get at the moment, which makes today’s decision very harsh. Link to comment Share on other sites More sharing options...
Thedelldays Posted 12 July, 2012 Share Posted 12 July, 2012 So much for getting away with it They could very well do a Plymouth argyle and go down even further Link to comment Share on other sites More sharing options...
Gingeletiss Posted 12 July, 2012 Share Posted 12 July, 2012 http://www.pkf.co.uk/pkf/news/football_industry/administrator_critical_of_%E2%80%98unjustified%E2%80%99_portsmouth_points_deduction “We’ll continue to do all we can to give Portsmouth the best possible chance of survival. And there are some grounds for optimism. We’re making headway with the wage bill reductions - Hayden Mullins and Aaron Mokoena have left today, and I expect three or four others to follow very soon. Kanu has also effectively indicated his intention to leave the club. This means that well over half of the club’s ten top earners are now close to disappearing from the payroll. :lol: He sure has! Link to comment Share on other sites More sharing options...
Give it to Ron Posted 12 July, 2012 Share Posted 12 July, 2012 http://www.pkf.co.uk/pkf/news/football_industry/administrator_critical_of_%E2%80%98unjustified%E2%80%99_portsmouth_points_deduction “I think most people would agree that the 10-point deduction imposed last season was sufficient, particularly as it played a huge part in the club’s relegation to League One. Really??? Cloud Cuckoo land! Link to comment Share on other sites More sharing options...
Thedelldays Posted 12 July, 2012 Share Posted 12 July, 2012 When is the cut off point for not being accepted in league 1?? If they are so massive, I fully expect a billionaire to stroll in and save them!!! Link to comment Share on other sites More sharing options...
anothersaintinsouthsea Posted 12 July, 2012 Share Posted 12 July, 2012 WTFILN? #wheresCorpHo Link to comment Share on other sites More sharing options...
Viking Warrior Posted 12 July, 2012 Share Posted 12 July, 2012 poor old pompey have no money in the bank no money in the bank Second verse Poor olD pompey have no points on the board no points on the board Link to comment Share on other sites More sharing options...
Gemmel Posted 12 July, 2012 Share Posted 12 July, 2012 what possible justification can the FL have for this appalling decision? It is spiteful and vindictive, and serves no purpose other than to kick us when we are down.........we are being punished for the same offence twice, as I see it, seeing as how we had points deducted last season. The only people to be affected by this are the players and fans of the football club, who were not responsible for or at fault for the administration or mismanagement of the club. The five or six thousand loyal fans of the club who have put their money up front in the purchase of season tickets have effectively had the value of those season tickets reduced, and the club has, at a stroke been rendered even less attractive to any potential buyer. Given the fact that we are also subject to a transfer embargo and are being totally hamstrung in our efforts to get out of the mess we are in, and instead of offering help and support, the league are obstructing and hindering any possible progress we try to make....... it is shameful and does the FL no credit , it merely highlights their own inept running of the league they are supposed to be in charge of, and however you look at this, you can find no justification or valid reason for it.......we are an easy target and are being victimised. This will not deter any other club or chairman, it will not stop mismanagement at football clubs and will not achieve anything at all within the football league, all it does is give the other 23 clubs in league one an unfair advantage over the coming season. Nice one Football League, and thanks for nothing.. again Poetry, pure poetry.... agenuine thankyou to who wrote that on the news site Link to comment Share on other sites More sharing options...
Verbal Posted 12 July, 2012 Share Posted 12 July, 2012 “I think most people would agree that the 10-point deduction imposed last season was sufficient, particularly as it played a huge part in the club’s relegation to League One. Really??? Cloud Cuckoo land! That's just Birch playing to the gallery. He must have known something like this was coming. Link to comment Share on other sites More sharing options...
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