RedAndWhite91 Posted 28 October, 2009 Share Posted 28 October, 2009 SSN - Portsmouth have been placed under a transfer embargo for apparently failing to pay up instalments on past transfers - Another step towards complete disaster? Link to comment Share on other sites More sharing options...
St Marco Posted 28 October, 2009 Share Posted 28 October, 2009 I imagine the PL did it because they owe a lot of people money and after having 3 owners in over a month they have yet to pay those people. What i want to know is if they continue to not pay people then why are they not in admin? If they are defaulting on their loans/commitments then they must be near to going bankrupt. The whole thing stinks. Link to comment Share on other sites More sharing options...
Pancake Posted 28 October, 2009 Share Posted 28 October, 2009 Wages day tomorrow is it not? Link to comment Share on other sites More sharing options...
krissyboy31 Posted 28 October, 2009 Share Posted 28 October, 2009 (edited) http://www.dailyecho.co.uk/sport/4707063.More_problems_for_Pompey/ http://www.dailyecho.co.uk/sport/4707101.Pompey_banned_from_signing_players/ Edited 28 October, 2009 by krissyboy31 Link to comment Share on other sites More sharing options...
Arizona Posted 28 October, 2009 Share Posted 28 October, 2009 It's a shame for them because Eugene Bopp would have turned their season around. Link to comment Share on other sites More sharing options...
RedAndWhite91 Posted 28 October, 2009 Author Share Posted 28 October, 2009 I guess the most probable explanation as to why they aren't in admin is that they are a Premier League club. It seems the PL governing bodies and the FA just won't let a PL team go into admin, you look at the debts of United for example, they are obscene, but they won't be going into admin soon. I think the final nail in the coffin will be when Pompey get relegated, but until then I forsee more embargoes and let offs by the FA, whilst dodgy Arabian businessmen toy with the club and look to make a "quick profit" from it. Link to comment Share on other sites More sharing options...
Smirking_Saint Posted 28 October, 2009 Share Posted 28 October, 2009 Hahaha haha haha ha ha ha Link to comment Share on other sites More sharing options...
Eastcowzer Posted 28 October, 2009 Share Posted 28 October, 2009 Perhaps they should consider appointing Rupert to sort the finances out Storrie & Lowe. What a 'dream', (or nightmare) team. Link to comment Share on other sites More sharing options...
Danny Posted 28 October, 2009 Share Posted 28 October, 2009 I guess the most probable explanation as to why they aren't in admin is that they are a Premier League club. It seems the PL governing bodies and the FA just won't let a PL team go into admin, you look at the debts of United for example, they are obscene, but they won't be going into admin soon. I think the final nail in the coffin will be when Pompey get relegated, but until then I forsee more embargoes and let offs by the FA, whilst dodgy Arabian businessmen toy with the club and look to make a "quick profit" from it. They are not in administration because the creditors have not yet pulled the plug and called in their loans. The Premier League can help by trying to get creditors to give Pompey more time but they can't stop it happening if the creditors decide to cut their losses. Man United will not be going into administration despite the size of their debt because they are servicing it and are not defaulting on repayments. How much a business owes has nothing to do with it - it is failure to meet repayments which opens up the possibility of administration. Link to comment Share on other sites More sharing options...
RedAndWhite91 Posted 28 October, 2009 Author Share Posted 28 October, 2009 They are not in administration because the creditors have not yet pulled the plug and called in their loans. The Premier League can help by trying to get creditors to give Pompey more time but they can't stop it happening if the creditors decide to cut their losses. Man United will not be going into administration despite the size of their debt because they are servicing it and are not defaulting on repayments. How much a business owes has nothing to do with it - it is failure to meet repayments which opens up the possibility of administration. Fair play, I understand it a bit better now. I guess Pompey don't have the same sort of revenue United brings in through sponsorship and merchandising. Poor old Pompey Link to comment Share on other sites More sharing options...
Tac-tics Posted 28 October, 2009 Share Posted 28 October, 2009 I am pretty smug about this. Link to comment Share on other sites More sharing options...
hamster Posted 28 October, 2009 Share Posted 28 October, 2009 I have a friend who referees. He reckons that he is owed about £50 for reffing a youth game for them. Link to comment Share on other sites More sharing options...
saintwarwick Posted 28 October, 2009 Share Posted 28 October, 2009 Perhaps they should consider appointing Rupert to sort the finances out Storrie & Lowe. What a 'dream', (or nightmare) team. Lowe didn't leave us in the sh1t financially when he was ousted hth. Be interesting to see how many pompey players will have to leave in the transfer window leaving them with a reserve squad for the remainder of the season. It just gets better Link to comment Share on other sites More sharing options...
hamster Posted 28 October, 2009 Share Posted 28 October, 2009 8/15 for the drop now Glad I got my tenner on early. Link to comment Share on other sites More sharing options...
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