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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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dubai_phil

dubai_phil

Posted
Posted
Any idea when the Premier League will reveal the extent of their wrath?

 

Chillax, the longer they delay, the longer the embargo, the less time to get and bed in replacement BSQ players into the first team.

 

Remember that admin today is not what we really want.

 

We want them to be in with a chance of staying up on the day that the transfer of points penalties to next season comes into effect and THEN to fall apart, get relegated normally, go into admin and have the minus 10 (at least) for next season.

 

Far more legs in this thread if THAT happens AND it blows their chances of a quick return with the parachute money which will be secured against even more loans no doubt

 

Oh BTW how come nobody else thinks it is funny that they believe they can get out of the mess by bringing in new players in the window...

 

Don't they stop and think that all the other strugglers will be looking to find cheapie loans and Bosmans as WELL?

 

Who'd you rather go to on loan Skates or Hull/Bolton/West Ham.....

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pedg

pedg

Posted
Posted

Talking of when we might hear about various things anyone know long we will probably have to wait to find out the result of their VAT payment appeal that is happening/starting today? Would it be a open and shut thing or will it likely go on for days?

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hutch

hutch

Posted
Posted

Am I wrong in thinking that it doesn't really matter to PFC what the PL decide?

 

It seems to me that the embargo will only be lifted if Pompey can clear all their outstanding football-related debts (no matter how) and convince the PL that they will meet their future football-related liabilities.

 

The options are that:

 

a) The PL use Pompey's Sky payment to pay clubs. There is some doubt about how much is due or overdue, and whether foreign club debts are included. So that may or may not clear the current debt. If the PL don't pay Pompey's foreign debts, they will surely require a guarantee that Pompey will before lifting the embargo.

 

b) The PL give the money to Pompey on the understanding that Pompey will clear those debts themselves

 

Now, here's where I'm guessing and applying common sense rather than knowledge of insolvency practice, but is it not the case that HMRC's winding-up petition was pre-emptive? If Pompey get the money, and spend it on anything other than paying their tax bills, and HMRC succeed in Court next month (do they ever lose?), will the Directors not become personally liable for the tax bills?

 

So the PL can either give the money to Pompey so that it eventually finds it's way into HM's half-empty coffers, or to the clubs and let HM whistle. And either way the embargo will stay in place. And even if it was lifted, DP's comments are valid. How on earth would Pompey persuade any PL-standard football players to join them?

 

Oh, I know - give them a cut of future TV money instead of wages. Sorted.

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Pancake

Pancake

Posted
Posted
Off subject slightly but if the fake shieks are looking to bail out, them what about this guy. He likes to do business without performing due diligence!!

 

http://www.eufootball.biz/Clubs/7891-guernsey_businessman_takeover_cardiff_city.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+eufootball+(Daily+headlines)

 

lol-aday! Wonder it that will open the door for Fialka (or whatever his name was) to swoop in with his Mums giro money?

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pedg

pedg

Posted
Posted (edited)
Any idea when the Premier League will reveal the extent of their wrath?

 

according to: http://www.portsmouth.co.uk/frattonlatest/Pompey-wait-on-embargo-verdict.5976996.jp

 

"A decision is expected in the next 36 hours."

 

Though heaven knows why it would take that long. Its almost as if they are putting it off for as long as they can. Though it goes on to say:

 

"And The News understands the Premier League is now trying to work out how to divide the money up fairly, as the TV funds fall some £3m short of covering Pompey's debts."

 

So I guess the 36 hours is to try and negotiate with the various clubs who gets what from their TV money (though why they don't just give each of them 7/10th and have done with it I don't know).

Edited by pedg
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OldNick

OldNick

Posted
Posted

If the Pompey lot had a meeting yesterday with just 2 of the top men of the PL and 1 is Dave Richards who introduced Al Fahim to Pompey then I suggest there is a conflict of interest. Richards will do all he can IMO to cover his a### and so it improves their chance of getting a leinient hearing.

As for MM it is the same moan as HR has used,. Both obviously have spoken and both used the same rhetoric. Of course this may only be the tip of the iceberg and they both no doubt have overseas bank accounts that the authorities dont know about. I hope trhey can find these out and then that will open up the whole corrupt business. just how many high value transfers has HR done and the player never played or been discarded very quickly?

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Pugwash

Pugwash

Posted
Posted
Who'd you rather go to on loan Skates or Hull/Bolton/West Ham.....

 

To put a slightly different slant on it: Who would the players' agents prefer to sell to and who's likely to pay their wedge? Don't think the agents are getting any of the Sky money...

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CB Saint

CB Saint

Posted
Posted
To put a slightly different slant on it: Who would the players' agents prefer to sell to and who's likely to pay their wedge? Don't think the agents are getting any of the Sky money...

 

I really hope this is true - for agents to be classed as football creditors would be a joke.

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dubai_phil

dubai_phil

Posted
Posted (edited)
I really hope this is true - for agents to be classed as football creditors would be a joke.

 

 

I'm pretty darned certain that Agents fees are classed as footballing debts. If they aren't paid off in full in an admin they don't get the "golden share/licence" back

 

So Sky won't pay the agents from the TV revenue as those debts are in ADDITION to what is owed to the clubs = which leaves them still banging the doors down at FP :)

Edited by dubai_phil
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miserableoldgit

miserableoldgit

Posted
Posted
Talking of when we might hear about various things anyone know long we will probably have to wait to find out the result of their VAT payment appeal that is happening/starting today? Would it be a open and shut thing or will it likely go on for days?

Radio 5Live just said that they were expecting to hear from the PL re: the embargo later today.

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pfc123

pfc123

Posted
Posted
Oh BTW how come nobody else thinks it is funny that they believe they can get out of the mess by bringing in new players in the window...

 

Probably because most people can see that we're only four points from safety and that we've actually been playing pretty well, especially under Grant. It wouldn't be a major surprise if we stay up....

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Joensuu

Joensuu

Posted
Posted

Pompey socialists prepare for the inevitable...

 

http://www.socialistparty.org.uk/articles/8693

 

If a new club is formed it should be a community club, with democratic control by the supporters. As a community club it should include provision for all types of recreational football - youth, women, disabled, senior and social - alongside elite professional football. As such it could act as an inspiration to others and give a small glimpse of a better way of running society.

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Colinjb

Colinjb

Posted
Posted
I take it you didn't see last nights game then?

 

Of course he was. After all, they get to every game don't they? These best fans in the world, they know all and see all! They managed to sell out the away end at the Ricoh and then demand MORE! Isn't that right pfc123?

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pedg

pedg

Posted
Posted
Probably because most people can see that we're only four points from safety and that we've actually been playing pretty well, especially under Grant. It wouldn't be a major surprise if we stay up....

 

Things pompey will have to do to stay up:

 

1) Win there cases against the taxman or pay up

2) Pay their wages till the end of the season

3) Pay Gaddyboy his 9 million

4) Pay other remaining football debts not covered by TV money, at least 3 million?

5) Avoid penalty if Story, Milan and/or Harry found guilty of dodgy accounting.

 

oh, and win a few more matches.

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pedg

pedg

Posted
Posted

No news on the embargo till tomorrow at the earliest apparently..

 

http://www.guardian.co.uk/football/2010/jan/13/portsmouth-transfer-embargo-premier-league

 

"The league is thought to be losing patience with the club, so it is not clear how amenable it would be to shifting away from the blanket ban it imposed in mid-October, to allow Grant some leeway to sign new players during the current transfer window"

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pfc123

pfc123

Posted
Posted
Of course he was. After all, they get to every game don't they? These best fans in the world, they know all and see all! They managed to sell out the away end at the Ricoh and then demand MORE! Isn't that right pfc123?

 

Absolutely. There were at least 73,000 who went up on the off chance but got locked out......

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Clapham Saint

Clapham Saint

Posted
Posted
Probably because most people can see that we're only four points from safety and that we've actually been playing pretty well, especially under Grant. It wouldn't be a major surprise if we stay up....

 

In case you hadn't noticed, the "mess" that you need to get out of isn't just on the pitch...

 

And yes it would be a surprise if you stay up.

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exit2

exit2

Posted
Posted

I have a feeling the PL will overturn their ruling and allow Pompey to enter the transfer market. The reason being is that the PL is world wide brand and I think they will do there up most to keep Pompey safe etc etc to protect the league.

 

It is bad business if PFC go bust etc while in the league. But it just shows the difference between the PL and FL. There is no money in reality in the FL and they have shown with us, Bournemouth and Luton etc they dont give a hoot and basically kicked a club while it is on its last legs. Once Pompey get relegated into the FL, they will get the same treatment as all the others. I may be wrong but can you tell me when has the PL really punished a club apart from Boro for not fielding a team?

 

But the other considerations the PL board must take into account before applying that points deduction make you realise just how unlikely it would ever be. The rules add: "The board shall have regard to the interests of the insolvent club's officials, players, supporters, shareholders and sponsors and the reputation of the Premier League and the need to promote the game of association football generally.

 

So again I think the PL will do its up most to protect PFC, which is very wrong not just because it PFC, I think they would do it to any club

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Gingeletiss

Gingeletiss

Posted
Posted
I have a feeling the PL will overturn their ruling and allow Pompey to enter the transfer market. The reason being is that the PL is world wide brand and I think they will do there up most to keep Pompey safe etc etc to protect the league.

 

It is bad business if PFC go bust etc while in the league. But it just shows the difference between the PL and FL. There is no money in reality in the FL and they have shown with us, Bournemouth and Luton etc they dont give a hoot and basically kicked a club while it is on its last legs. Once Pompey get relegated into the FL, they will get the same treatment as all the others. I may be wrong but can you tell me when has the PL really punished a club apart from Boro for not fielding a team?

 

But the other considerations the PL board must take into account before applying that points deduction make you realise just how unlikely it would ever be. The rules add: "The board shall have regard to the interests of the insolvent club's officials, players, supporters, shareholders and sponsors and the reputation of the Premier League and the need to promote the game of association football generally.

 

So again I think the PL will do its up most to protect PFC, which is very wrong not just because it PFC, I think they would do it to any club

 

I think you're wrong..

 

If they do as you say, and stay up, then it will be at the expense of another club.....and that club may of played by the rules, and will surely look to sue the PL. I think they will want rid of the cheats and liars from down the road...as soon as possible.

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pedg

pedg

Posted
Posted
I have a feeling the PL will overturn their ruling and allow Pompey to enter the transfer market. The reason being is that the PL is world wide brand and I think they will do there up most to keep Pompey safe etc etc to protect the league.

 

It is bad business if PFC go bust etc while in the league. But it just shows the difference between the PL and FL. There is no money in reality in the FL and they have shown with us, Bournemouth and Luton etc they dont give a hoot and basically kicked a club while it is on its last legs. Once Pompey get relegated into the FL, they will get the same treatment as all the others. I may be wrong but can you tell me when has the PL really punished a club apart from Boro for not fielding a team?

 

But the other considerations the PL board must take into account before applying that points deduction make you realise just how unlikely it would ever be. The rules add: "The board shall have regard to the interests of the insolvent club's officials, players, supporters, shareholders and sponsors and the reputation of the Premier League and the need to promote the game of association football generally.

 

So again I think the PL will do its up most to protect PFC, which is very wrong not just because it PFC, I think they would do it to any club

 

 

From the guardian article its clear they are considering lifting the ban for free transfers and loans only. To some extent this may help pompey pay their debts as they have such a small squad (took only 17 rather than the 18 allowed to coventry) that selling players without getting more in would leave them possibly without enough players to forfill their fixtures. By allowing them some free transfers/loans it would allow pompey to sell some of their higher valued players to pay off some of their debts while still giving the impression that they are competing on even ground with a reasonable sized squad.

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Colinjb

Colinjb

Posted
Posted
I take both comments above on board in reply to mine but dont you think that if this was a club in the FL they would have been punished quite hard with points deduction etc already?

 

If they were a football league club they wouldn't have had all these loans in the first place, thus they would be in administration and as good as down from the Championship. So yes, they would have.

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aintforever

aintforever

Posted
Posted
I have a feeling the PL will overturn their ruling and allow Pompey to enter the transfer market. The reason being is that the PL is world wide brand and I think they will do there up most to keep Pompey safe etc etc to protect the league.

 

It is bad business if PFC go bust etc while in the league. But it just shows the difference between the PL and FL. There is no money in reality in the FL and they have shown with us, Bournemouth and Luton etc they dont give a hoot and basically kicked a club while it is on its last legs. Once Pompey get relegated into the FL, they will get the same treatment as all the others. I may be wrong but can you tell me when has the PL really punished a club apart from Boro for not fielding a team?

 

But the other considerations the PL board must take into account before applying that points deduction make you realise just how unlikely it would ever be. The rules add: "The board shall have regard to the interests of the insolvent club's officials, players, supporters, shareholders and sponsors and the reputation of the Premier League and the need to promote the game of association football generally.

 

So again I think the PL will do its up most to protect PFC, which is very wrong not just because it PFC, I think they would do it to any club

 

I think the PL are going easy on them at the moment because it looks like they are doing a fine job of relegating themselves anyway. Other small clubs are not going to want to set a precedent of having the book thrown at them at the first sign of financial trouble - it's not in their interests.

 

If pompey somehow manage to win a few games and look like staying up, clubs like Bolton make sure action is taken IMO. It's not fair on the clubs who pay their bills to have cheats like pompey stay up at their expense.

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sidthesquid

sidthesquid

Posted
Posted
I think you're wrong..

 

If they do as you say, and stay up, then it will be at the expense of another club.....and that club may of played by the rules, and will surely look to sue the PL. I think they will want rid of the cheats and liars from down the road...as soon as possible.

 

My head agrees with you, my heart fears the jelly-livered spivs of the PL will avoid the issue once again.

But they did get a lot of grief over the Sheff U/ West Ham thing & if say Wolves (who live within their means) went down instead of Poopey & then Poopey started defaulting on payments for signings again it would be somewhat embarrassing.

I actually think UEFA/FIFA may hold the key. A lot of the top brass are p1ssed off/jealous of the PL and are looking for an excuse to give it a kicking. And if the PL are being seen to be turning a blind eye to the most flagrant example of 'financial doping' as they call it, and the murkiest chain of shadow owners/lenders/advisors leading back to a convicted gun-runner that might just be enough to rouse them. (Or at least the fear of it enough for the PL to hold its nerve & not back down)

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Spudders

Spudders

Posted
Posted
I think you're wrong..

 

If they do as you say, and stay up, then it will be at the expense of another club.....and that club may of played by the rules, and will surely look to sue the PL.

 

Agree ... it's in the interest of the PL's image to do their best not to push pompey into further trouble, but they certainly can't be seen to do anything that appears like they are doing them any favours!

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pedg

pedg

Posted
Posted (edited)

Suspect the PL are looking hopefully towards the various tax avoidance cases coming up as a guilty verdict in these would give them an excuse to dock points without reference to the general financial state that the PL have allowed them to get into.

Edited by pedg
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badgerx16

badgerx16

Posted
Posted
From the guardian article its clear they are considering lifting the ban for free transfers and loans only. To some extent this may help pompey pay their debts as they have such a small squad (took only 17 rather than the 18 allowed to coventry) that selling players without getting more in would leave them possibly without enough players to forfill their fixtures. By allowing them some free transfers/loans it would allow pompey to sell some of their higher valued players to pay off some of their debts while still giving the impression that they are competing on even ground with a reasonable sized squad.

Don't they have a 'world class' academy then ? They should have to play the youngsters /reserves to make up the shortfall.

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pedg

pedg

Posted
Posted
Don't they have a 'world class' academy then ? They should have to play the youngsters /reserves to make up the shortfall.

 

You would think so. Maybe they are over egging the 'look how thin our squad is' line to try to persuade the PL to lift the embago? If the embago stops to registering players would it stop you registering youngsters from within your own club??

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Faz

Faz

Posted
Posted
The EPL have already stated their position regarding the money and that won't change.

 

However, they allow the loan/free option as it would appear a win/win for the EPL.

 

I'm getting very confused between the EPL, and the EDL. Can someone please explain?

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