lordswoodsaints Posted 30 December, 2009 Share Posted 30 December, 2009 Pompey have been issued with a winding up order by HMCR with a view to placing the club in bankruptcy,to be heard in early February. They also owe £10mil in payments to other clubs,this is on top of the action being taken by sol Campbell for payments of around £1.5 mil owed to him in bonuses etc. Is this a more serious position to be in than we were before the takeover? Link to comment Share on other sites More sharing options...
Jones91 Posted 30 December, 2009 Share Posted 30 December, 2009 yes, ahahahahahahahaa!!!!!!!!!!!! ****s Link to comment Share on other sites More sharing options...
sotonjoe Posted 30 December, 2009 Share Posted 30 December, 2009 really? Link to comment Share on other sites More sharing options...
Thedelldays Posted 30 December, 2009 Share Posted 30 December, 2009 beautiful I hope their FA cup was worth it Link to comment Share on other sites More sharing options...
S-Clarke Posted 30 December, 2009 Share Posted 30 December, 2009 Much worse, it's starting to look like there is no way out for them, unless they get bought out by a billionaire willing to instantly pump £50m+ into the club. But the likelihood of that is very slim, seeing that their assets are small and the only real profitable return for any investor is their premier league status, which is hanging by a thread anyway. They're screwed. Link to comment Share on other sites More sharing options...
trousers Posted 30 December, 2009 Share Posted 30 December, 2009 Pompey have been issued with a winding up order by HMCR with a view to placing the club in bankruptcy,to be heard in early February. They also owe £10mil in payments to other clubs,this is on top of the action being taken by sol Campbell for payments of around £1.5 mil owed to him in bonuses etc. Is this a more serious position to be in than we were before the takeover? It's only 'more serious' if they can't find someone to pay the bills. It could be 'more serious' than ours in terms of scale and breadth of debt but we didn't have a penny to rub together to pay a small cheque where as P*mpey seem to find someone to stump up £10m here and there to bail them out each time. Not really comparing apples with apples I guess. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 30 December, 2009 Share Posted 30 December, 2009 Is this a more serious position to be in than we were before the takeover? Yes, their debts are huge and wage bill massive compared to what Saints were before the takeover. Also they don't have a good stadium, training ground or large fanbase to make them attractive to potential future investors. Link to comment Share on other sites More sharing options...
Whitey Grandad Posted 30 December, 2009 Share Posted 30 December, 2009 really? They have very few assets apart from the players. There is an outstanding loan secured against the ground, they missed an option to purchase the surrounding land, they don't own the training ground. Apart from that there is their Premiership status and that is disappearing fast. If you had a few tens of millions to invest in an English football club there are plenty of more promising options. Link to comment Share on other sites More sharing options...
Glasgow_Saint Posted 30 December, 2009 Share Posted 30 December, 2009 Maybe we can offer them some money for the replica of the FA Cup? Link to comment Share on other sites More sharing options...
farawaysaint Posted 30 December, 2009 Share Posted 30 December, 2009 We could send them a nice card? Something along the lines of "karmas a ***** aint she?" Link to comment Share on other sites More sharing options...
suewhistle Posted 30 December, 2009 Share Posted 30 December, 2009 Pompey have been issued with a winding up order by HMCR There was an article in today's Guardian about Pompey which didn't mention that: where did you hear it? Financing the various due debts appears to be a real problem. But yes, I think their situation is far worse. Far fewer assets (ground, training ground, land) and greater debts. Ah! Just been on guardian website to get the link.... I see! Breaking news: * HM Revenue & Customs issues winding up petition on Portsmouth Football Club ... more to follow Link to comment Share on other sites More sharing options...
Arizona Posted 30 December, 2009 Share Posted 30 December, 2009 Much worse, it's starting to look like there is no way out for them, unless they get bought out by a billionaire willing to instantly pump £50m+ into the club. But the likelihood of that is very slim, seeing that their assets are small and the only real profitable return for any investor is their premier league status, which is hanging by a thread anyway. They're screwed. All prejudice aside, I'm amazed they found the financial backing to get them this far. Mandaric buying them for peanuts and taking them to the Prem... fair enough. But then people like Gaydamak, Sillyman and er... the other Arab bloke I don't get. They bought the club, p*ssed tens of millions up the wall financing a huge wage bill and some ludicrous transfer, then sold their shares for no more than they paid for them. I can't see any sane business person going within 50ft of them, but I have a weird feeling they will. Link to comment Share on other sites More sharing options...
benjii Posted 30 December, 2009 Share Posted 30 December, 2009 There was an article in today's Guardian about Pompey which didn't mention that: where did you hear it? Financing the various due debts appears to be a real problem. But yes, I think their situation is far worse. Far fewer assets (ground, training ground, land) and greater debts. Ah! Just been on guardian website to get the link.... I see! Breaking news: * HM Revenue & Customs issues winding up petition on Portsmouth Football Club ... more to follow Well, it was. Link to comment Share on other sites More sharing options...
Carlos Fandango Posted 30 December, 2009 Share Posted 30 December, 2009 They are in the brown stuff alright. For a relatively modest sum Mr Leibherr acquired a prem quality stadium, training ground and fanbase with the chance to make huge strides for a small investment. What would any buyer of pfc be getting? It would take massive investment to get them anywhere near solvent again, especially after their players have been sold in January which is now inevitable. Link to comment Share on other sites More sharing options...
Gudz Posted 30 December, 2009 Share Posted 30 December, 2009 On sky sports.com as well. Quite frankly, screw them. Link to comment Share on other sites More sharing options...
Son of Bob Posted 30 December, 2009 Share Posted 30 December, 2009 From what I can read into it it's a more serious position than we were in. They owe so much money, to so many people, it's hard to see where it's going to come from. Unlike Pompey we were always going to be a very interesting proposition to a buyer due to our Premiership facilities and fanbase. Pompey on the other hand have Championship attendances, woeful facilities and a rotting, Championship/League 1 standard ground. With their squad about to be ripped apart in January in a vain attempt to muster some funds and the high liklihood of Championship football in front of 12-15,000 fans next season it's difficult to see anyone with any sense bailing them out is it? I suspect they will go the same way as Luton. Link to comment Share on other sites More sharing options...
farawaysaint Posted 30 December, 2009 Share Posted 30 December, 2009 All prejudice aside, I'm amazed they found the financial backing to get them this far. Mandaric buying them for peanuts and taking them to the Prem... fair enough. But then people like Gaydamak, Sillyman and er... the other Arab bloke I don't get. They bought the club, p*ssed tens of millions up the wall financing a huge wage bill and some ludicrous transfer, then sold their shares for no more than they paid for them. I can't see any sane business person going within 50ft of them, but I have a weird feeling they will. Football clubs seem to have no shortage of insane rich blokes trying to buy them even though there isn't a chance in a million they'll be profitable. They're a status symbol like a lambo or a rolex nothing more, that's why pompey will be bought, they're a rich mans fong kong rolex. Link to comment Share on other sites More sharing options...
RedAndWhite91 Posted 30 December, 2009 Share Posted 30 December, 2009 A lot worse - At least when we were in administration we had assets that appealed to potential investors - A Premiership quality stadium and the training facilities. What do Pompey have to offer anyone stupid enough to buy into their debt riddled and rotten club? Absolutely sod all. Link to comment Share on other sites More sharing options...
Saint_clark Posted 30 December, 2009 Share Posted 30 December, 2009 Pompeys goin' down, and they got nothing in the bank, nothing in the bank, nothing in the bank... Link to comment Share on other sites More sharing options...
Thedelldays Posted 30 December, 2009 Share Posted 30 December, 2009 this is good news IMO hope they pop and never return.. I remember getting relegated (twice) and all the humilation we had to suffer from their gloating..a few wise heads on here said that what goes around comes around...we will have the last laugh... I remember the smiles a saw on MOTD when they were pleading for WBA to score against them....the plastic fans that turned up for the FA Cup "success"....the laughing over the summer. pay up pompey, pompey pay up Link to comment Share on other sites More sharing options...
Hatch Posted 30 December, 2009 Share Posted 30 December, 2009 Maybe they could ask 'Arry to pay back some of his 'fees' Link to comment Share on other sites More sharing options...
suewhistle Posted 30 December, 2009 Share Posted 30 December, 2009 Unlike Pompey we were always going to be a very interesting proposition to a buyer due to our Premiership facilities and fanbase. Pompey on the other hand have Championship attendances, woeful facilities and a rotting, Championship/League 1 standard ground. With their squad about to be ripped apart in January in a vain attempt to muster some funds and the high liklihood of Championship football in front of 12-15,000 fans next season it's difficult to see anyone with any sense bailing them out is it? Quite! And no potential for 30k crowds either, 3rd division or Premiership.. I think that Boxing Day crowd was significant as it underlined OUR potential... Link to comment Share on other sites More sharing options...
Thedelldays Posted 30 December, 2009 Share Posted 30 December, 2009 Pompeys goin' down, with fuk all in the bank, fuk all in the bank, fuk all in the bank... quality..needs to be sung at SMS Link to comment Share on other sites More sharing options...
Super_Saint Posted 30 December, 2009 Share Posted 30 December, 2009 Hahaha good for them! bout time this happened. Pay up Pompey! Pompey Pay up! Link to comment Share on other sites More sharing options...
The Kraken Posted 30 December, 2009 Share Posted 30 December, 2009 Football clubs seem to have no shortage of insane rich blokes trying to buy them even though there isn't a chance in a million they'll be profitable. They're a status symbol like a lambo or a rolex nothing more, that's why pompey will be bought, they're a rich mans fong kong rolex. That's somewhat true, but as Son of Bob and others have already said, Pompey's main attraction to new buyers is their Premier League status. They are not due to go to court for winding up until February, by which time their Premier League status may look far more precarious than it does right now. Which makes them an extremely unattractive proposition. Link to comment Share on other sites More sharing options...
suewhistle Posted 30 December, 2009 Share Posted 30 December, 2009 http://news.bbc.co.uk/1/hi/business/8434987.stm Link to comment Share on other sites More sharing options...
Saint_clark Posted 30 December, 2009 Share Posted 30 December, 2009 quality..needs to be sung at SMS It was started at the last one but didn't catch on past me and about 20 others. Link to comment Share on other sites More sharing options...
grammy Posted 30 December, 2009 Share Posted 30 December, 2009 This gives them time for one final "fire sale" in January but the sale of players and 4 being lost to the African Nations Cup will just make it an even slower and more painful death. Nice! Having said that I'd hate it for them to go out of business just want to see them at their rightful level. At least 2 leagues below us is about right! Link to comment Share on other sites More sharing options...
imported_saint_nick Posted 30 December, 2009 Share Posted 30 December, 2009 song for Saturday....wind up Pompey, Pompey wind up?! Link to comment Share on other sites More sharing options...
Thedelldays Posted 30 December, 2009 Share Posted 30 December, 2009 It was started at the last one but didn't catch on past me and about 20 others. im sure it will catch on now Link to comment Share on other sites More sharing options...
Matthew Le God Posted 30 December, 2009 Share Posted 30 December, 2009 song for Saturday....wind up Pompey, Pompey wind up?! More than one level to that Link to comment Share on other sites More sharing options...
RedAndWhite91 Posted 30 December, 2009 Share Posted 30 December, 2009 I prefer "wind up Pompey" than "pay up Pompey".... Pay up is more inventive but surely it will just sound like we are singing "play up Pompey"? If that makes sense. Link to comment Share on other sites More sharing options...
Chin Strain Posted 30 December, 2009 Share Posted 30 December, 2009 All prejudice aside, I'm amazed they found the financial backing to get them this far. Mandaric buying them for peanuts and taking them to the Prem... fair enough. But then people like Gaydamak, Sillyman and er... the other Arab bloke I don't get. They bought the club, p*ssed tens of millions up the wall financing a huge wage bill and some ludicrous transfer, then sold their shares for no more than they paid for them. I can't see any sane business person going within 50ft of them, but I have a weird feeling they will. I think you'll find that Al Faim and Al Faraj have put approximately nothing into the club. They may own / have owned the club, but it wouldn't have cost anything to buy in the first place given the level of outstanding debt and poor facilities. SAF was probably getting a bit excited about the kudos that he thought owning a PL club would bring. Al Faraj (if he exists) I suspect is having a punt on them keeping their PL status and making a quick buck. Either way, these two don't have a pot to **** in. What strikes me as odd is why Chainnrai wants to provide loans to Pompey to pay the wages - he's either getting an extortionate interest rate, or has an interest in the ground (that is the security against the loans), and potential to develop it. This may be tied up with him suing Arcadi Gaydamak and winning $23m. Gaydamak senior (sorry, junior....) also owns the land around the ground. Do I smell a commercial development? Link to comment Share on other sites More sharing options...
Scummer Posted 30 December, 2009 Share Posted 30 December, 2009 I think you'll find that Al Faim and Al Faraj have put approximately nothing into the club. They may own / have owned the club, but it wouldn't have cost anything to buy in the first place given the level of outstanding debt and poor facilities. SAF was probably getting a bit excited about the kudos that he thought owning a PL club would bring. Al Faraj (if he exists) I suspect is having a punt on them keeping their PL status and making a quick buck. Either way, these two don't have a pot to **** in. What strikes me as odd is why Chainnrai wants to provide loans to Pompey to pay the wages - he's either getting an extortionate interest rate, or has an interest in the ground (that is the security against the loans), and potential to develop it. This may be tied up with him suing Arcadi Gaydamak and winning $23m. Gaydamak senior (sorry, junior....) also owns the land around the ground. Do I smell a commercial development? Yep, a cynical person could see Pompey getting wound up and the Fratton Park site (and surrounding area) redeveloped........ Link to comment Share on other sites More sharing options...
saint_mears Posted 30 December, 2009 Share Posted 30 December, 2009 I dont think our tax situation got anywhere near theres and they could be declared bankrupt and liquidated. So its a lot lot worse Link to comment Share on other sites More sharing options...
Thedelldays Posted 30 December, 2009 Share Posted 30 December, 2009 so, what happens if they are declared bankrupt.. can they still continue..? what are the implications..? Link to comment Share on other sites More sharing options...
a1ex2001 Posted 30 December, 2009 Share Posted 30 December, 2009 Pretty shocking state of affairs, I shant be joining those wishing for the death of of our local rivals though. I wouldn't wish what we went through in the summer on the fans of any club and certainly wouldn't want our biggest rivals to disapear for good imagine that the prospect of a big local derby isn't there to keep us interested in the cup draw? I will of course enjoy the usual banter when they get relegated and thrashed a few times on the way down but that is a totally different kettle of fish. Link to comment Share on other sites More sharing options...
S-Clarke Posted 30 December, 2009 Share Posted 30 December, 2009 so, what happens if they are declared bankrupt.. can they still continue..? what are the implications..? expelled from the league i believe. Link to comment Share on other sites More sharing options...
JRM Posted 30 December, 2009 Share Posted 30 December, 2009 It was started at the last one but didn't catch on past me and about 20 others. it was a man utd song although last year they sang "citys going down with a billion in the bank" when for a short while they were low down the table, we just need to sing, they're going down, they're going down they're going down, they're going down, pompey's going down with no money in the bank, no money in the bank, no money in the bank .................. Link to comment Share on other sites More sharing options...
exit2 Posted 30 December, 2009 Share Posted 30 December, 2009 Pompeys goin' down, and they got nothing in the bank, nothing in the bank, nothing in the bank... Pomeys going down with f**k all in the bank, f**k all in the bank f**k all in the bank Pompeys going down with f**k all in the bank, f**k all in the bank f**k all in the bank And they are goin down, they are goin down, they are goin down... Link to comment Share on other sites More sharing options...
bridge too far Posted 30 December, 2009 Share Posted 30 December, 2009 Yep, a cynical person could see Pompey getting wound up and the Fratton Park site (and surrounding area) redeveloped........ I'm cynical and I suggested a couple of days ago that Gaydamak might be waiting for PFC to go into admin so he could buy FP and add it to his portfolio that already includes the surrounding area. This would make potential development easier and cheaper. However, someone suggested that there's a covenant on FP which would preclude it from commercial development. I have experienced these sorts of commercial covenants before so it wouldn't surprise me. Link to comment Share on other sites More sharing options...
Glasgow_Saint Posted 30 December, 2009 Share Posted 30 December, 2009 Pretty shocking state of affairs, I shant be joining those wishing for the death of of our local rivals though. I wouldn't wish what we went through in the summer on the fans of any club and certainly wouldn't want our biggest rivals to disapear for good imagine that the prospect of a big local derby isn't there to keep us interested in the cup draw? I will of course enjoy the usual banter when they get relegated and thrashed a few times on the way down but that is a totally different kettle of fish. Ohh thats low! Link to comment Share on other sites More sharing options...
Saint_clark Posted 30 December, 2009 Share Posted 30 December, 2009 Unfortunately i'm gonna be missing the Huddersfield game, but i'd definitely start that up if I was there... Link to comment Share on other sites More sharing options...
Thedelldays Posted 30 December, 2009 Share Posted 30 December, 2009 expelled from the league i believe. what makes me laugh..just had a look and pompey (or someone there) have released a statement saying what HMRC have done is illegal.. ffs, this is not some agent or football club they are dealing with here... Link to comment Share on other sites More sharing options...
Scummer Posted 30 December, 2009 Share Posted 30 December, 2009 I'm cynical and I suggested a couple of days ago that Gaydamak might be waiting for PFC to go into admin so he could buy FP and add it to his portfolio that already includes the surrounding area. This would make potential development easier and cheaper. However, someone suggested that there's a covenant on FP which would preclude it from commercial development. I have experienced these sorts of commercial covenants before so it wouldn't surprise me. I wonder how that works, as they always wanted to redevelop the site when they were talking about moving grounds. Link to comment Share on other sites More sharing options...
WealdSaint Posted 30 December, 2009 Share Posted 30 December, 2009 I wonder if AP fancies signing any of their players?........closing down sale (actually i hope not)...........but we must be one of the solvent clubs that can put immeadiate cash on the table. Link to comment Share on other sites More sharing options...
Saint_clark Posted 30 December, 2009 Share Posted 30 December, 2009 Slight edit of another one I made up ages ago; Hollow, hollow, hollow Pompeys success is f*cking hollow, all that money you took, from that big Russian crook, now your football clubs sat on death row. Link to comment Share on other sites More sharing options...
saint_bert Posted 30 December, 2009 Share Posted 30 December, 2009 I wonder what old saggy face makes of it all Link to comment Share on other sites More sharing options...
Seaford Saint Posted 30 December, 2009 Share Posted 30 December, 2009 Pretty shocking state of affairs, I shant be joining those wishing for the death of of our local rivals though. I wouldn't wish what we went through in the summer on the fans of any club and certainly wouldn't want our biggest rivals to disapear for good imagine that the prospect of a big local derby isn't there to keep us interested in the cup draw? I will of course enjoy the usual banter when they get relegated and thrashed a few times on the way down but that is a totally different kettle of fish. I agree 100% Link to comment Share on other sites More sharing options...
OldNick Posted 30 December, 2009 Share Posted 30 December, 2009 I wonder what old saggy face makes of it all 'they'll be down to the bare bones, f'sure Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now