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Harry Redknapp didnt help their cause dodgy tax dodging pillock, soooo luke hows the maraca shaking going?
If Pompey go into liquidation it’s BRILLIANT because every point anyone has taken from them gets deducted!
If no buyer found by friday they go into administration. That will more or less send them down. HMRC want them out of business aparently. Nice people aren’t they.Shame bout pompey don’t want to see any club go into admin, but they’ve been badly let down by clown owners and a dodgy board. On the flip side that only leaves 2 places left in R.zone. Although we should stay up regardless of the antics of other clubs off the field.administration is only there to protect a company with assets who are expierencing financial problems-it stops creditors from shutting down a company ,until all other avenues have been examined.
portsmouth have gone way past this stage the depts are that big and the company is such a bad shape that the hmrc does not think it should be allowed to survive,it is at minimum insolvent and should be declared bankrupt,the only thing that will keep them afloat now is sentimentality
and footballs ruling body negotiating with the hmrc to stop it.or someone who will pay off 70 million quid of debts with no chance of any return on the investment.
“or someone who will pay off 70 million quid of debts with no chance of any return on the investment”
If you go into administration then its more than likely that you will never have to pay off the full amount of your debts, coz you are able to negotiate with creditors as to what you’ll pay back & they all take somet rather than nowt. The likes of Leicester & several other clubs did it & wound up paying back somet like 10p for every £1 that they owed which is why they introduced the points penalty for going into administration coz it was a kick in the teeth for those clubs who managed their finances properly
-9 points as its the prem and we play 38 games
-10 in champ and below as they play 46 gamesas far as I understand no points difference – table stays as it is – doesnt really benefit us at all as Pompey have to play nearly all our relegation rivals, are they up for the fight? they are so long as they are in the fa cup but after that?
they are also going to have to do some smart juggling to stave off a further -15 at start of next season
as stated on here – they were never going into liquidation (out of business) – they still have the Premiership parachute money to come
”or someone who will pay off 70 million quid of debts with no chance of any return on the investment”If you go into administration then its more than likely that you will never have to pay off the full amount of your debts, coz you are able to negotiate with creditors as to what you’ll pay back & they all take somet rather than nowt. The likes of Leicester & several other clubs did it & wound up paying back somet like 10p for every £1 that they owed which is why they introduced the points penalty for going into administration coz it was a kick in the teeth for those clubs who managed their finances properly
the hmrc are not prepared to negotiate(up till now)-they know the debt to them will grow even more if they dont close them down now – the debt owed to them has gone from 7 million to over 12 million in weeks and despite money coming in to portsmouth none has been paid to the revenue,football clubs are granted super creditor status by the football league/prmiership/goverment and their football debts are priority meaning players and other clubs get the preferencial creditor status that the revenue and customs used to enjoy(the first to get any money if things go tits up) – the hmrc claim this is grossley unfair that footballers being paid millions get their massive wedge before the country,when any admin would mean them getting nothing or as you say so much in the pound.
and that is why they want pompey wound up and why football’s governing bodies will try to save them.
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