Clubs in trouble

[alan_clarke]

I am working on all the Pompey fans round here to try to get them to convert to the Villa should the club vanish into thin air. Sign up and you get one of my many old scarves, a copy of H and V from somewhere between about 1992 and now, a free programme from roughly the same period and access to a choice library of Villa-related books, including many by our very own SP and DW...

they can keep the bell ringer though!

[richard moore]

I am working on all the Pompey fans round here to try to get them to convert to the Villa should the club vanish into thin air. Sign up and you get one of my many old scarves, a copy of H and V from somewhere between about 1992 and now, a free programme from roughly the same period and access to a choice library of Villa-related books, including many by our very own SP and DW...

they can keep the bell ringer though!

Oh I don't know. Reckon he would go nicely up the top of the Holte with his drummers, banging out 'Holte Army' incessantly throughout a game. As long as I am sitting in the North Stand mind you...

[UK Redsox]

From what I understand there is no chance of administration or liquidation, pompey have 7 days to pay the 11.5 million bill or they are wound up!

I don't understand this.

Surely the tax-man would be better taking half of what's owed, which I understand is what Pompey offerred, and keeping the club going to get the rest at a later date.  

If they are wound up, does this not mean the IR and all other creditors will only X pence in the pound?

Why should HMRC (acting on behalf of us, the tax payers) allow a company to use our money to fund itself ?

[Concrete John]

From what I understand there is no chance of administration or liquidation, pompey have 7 days to pay the 11.5 million bill or they are wound up!

I don't understand this.

Surely the tax-man would be better taking half of what's owed, which I understand is what Pompey offerred, and keeping the club going to get the rest at a later date.  

If they are wound up, does this not mean the IR and all other creditors will only X pence in the pound?

Why should HMRC (acting on behalf of us, the tax payers) allow a company to use our money to fund itself ?

I'm not suggesting they should.  

What I am saying, should my understanding be right, is that we would get more of our tax money by taking 50% now and having an ongoing business to pay more later.  Better that than seeing them wound up and getting Xp in the pound, which would presumably be less than the 50% of the sum owed they are offering.

[Rudy Can't Fail]

From what I understand there is no chance of administration or liquidation, pompey have 7 days to pay the 11.5 million bill or they are wound up!

I don't understand this.

Surely the tax-man would be better taking half of what's owed, which I understand is what Pompey offerred, and keeping the club going to get the rest at a later date.  

If they are wound up, does this not mean the IR and all other creditors will only X pence in the pound?

Why should HMRC (acting on behalf of us, the tax payers) allow a company to use our money to fund itself ?

Obviously Pompey would have to pay interest on the late payment, plus HMRC could put themselves at head of the queue for future payments.
There's only one club I'd like to see shut down - and it ain't Pompey.

On second thoughts, do we really want the knuckledraggers supporting us.

[pdiddybaby]

Why should HMRC (acting on behalf of us, the tax payers) allow a company to use our money to fund itself ?

this has all been caused by football on insisting football debts get paid first.

Totally understandable as some clubs would really take advantage. However HMRC in any petition is always the preferred creditor and when the PL witheld TV money they saw it as their (and our ) money.

The HMRC is taking a tougher stance on clubs and rightly so and clubs have to get the wages down, no other choice.

[Chris Smith]

I am working on all the Pompey fans round here to try to get them to convert to the Villa should the club vanish into thin air. Sign up and you get one of my many old scarves, a copy of H and V from somewhere between about 1992 and now, a free programme from roughly the same period and access to a choice library of Villa-related books, including many by our very own SP and DW...

they can keep the bell ringer though!

Oh I don't know. Reckon he would go nicely up the top of the Holte with his drummers, banging out 'Holte Army' incessantly throughout a game. As long as I am sitting in the North Stand mind you...

He's recording a cover of the old Shampoo hit as part of the Save Pompey appeal:

Uh-Oh, We're In Trouble, Something's Come Along And It's Burst Our Bubble

[LeeS]

On the basis of fairness they should be wound up. The argument that HMRC could get more in the long run by accepting less now is flawed as it would encourage other companies to keep doing the same. There has to be a line where you say enough is enough and close someone down.

On an emotional basis, I think it is awful that any football fan should face the extinction of their club.

[Apyadg]

Agreed, LeeS. As much as I feel terrible for the Portsmouth fans (not to mention it hurting us, we'll lose points, Liverpool won't), the club needs to be shut down. Football needs to be put back under control, the FA seem unwilling to do anything about it, HRMC aren't pulling any punches. Good.

I expect the football-creditors rule to be challenged, too, and rightfully so. Football clubs should be held to account like any other business, as much as it'll hurt some blameless fans in the short term, I think it's best for football that clubs are shown that they can't continue like this.

[JUAN PABLO]

Livershite are jammy fookers If that happens.. They have always been fookin lucky.. wankers..  

;-s





UTV

[CJ]

Portsmouth, Cardiff City and Southend United all facing Winding Up orders today.

Reported on BBC - Cardiff also got a stay of execution at the High Court today - their Chairman and Chief Executive, Peter Ridsdale, was in court to hear the verdict.  

Now where have I heard that name before in connection with a football club going tits up........?

[Hookeysmith]

I think the biggest problem here is one of precedent - if they allow or force Pompey to go to the wall (any other business would) then they have to have the same rules even if next in line is someone like the red filth.
Once a top flight club gets pulled the fall out will be huge and there will be clubs like Stockport / Cardiff / Chester / Palace will follow suit - it only ever needed one law suit to fall in favour of the creditor and it will be like dominoes

I am not sure how a certain shyster cockney barrow boy can sleep at night though all this as surely his insistance on buying unheard of players from abroad on huge salaries has not helped.

Although they may have chased the FA cup dream a few years ago just like when the banks f***ed it up and we all suffered  - the loyal, timeserved fans who pay their money get shafted

Could you imagine if it was us - what the hell would fill the void? Would you support someone else - does not even bare comprehension

Really feel sorry for the true Pompey fans

[JUAN PABLO]

Be interesting If Pompey win the FA cup again and get wound up.

Going back to Livershite , it will be worth about 20 million to the red shite  If Pompey get wound up, lets hope they dont..

[SoccerHQ]

Haven't Lens said Dindane's gone to Pompey full time now and they expect to be paid the full 4m which was the agreed transfer fee.

That could be a problem.

Pompey weren't happy with Begovic going to Stoke either as they'd have rather traded with Spurs as they still owe them money for transfers.

Such a mess.

[richardhubbard]

Haven't Lens said Dindane's gone to Pompey full time now and they expect to be paid the full 4m which was the agreed transfer fee.

That could be a problem.

Pompey weren't happy with Begovic going to Stoke either as they'd have rather traded with Spurs as they still owe them money for transfers.

Such a mess.

I think Dindane issue the last of their problems, if they go bust!