Pompey are apparently 48 hours from liquidation

Quote from AA

Sounds like many businesses - I don't see Chanrai losing his investment - if we aren't sold by the end of the month I reckon he'll step back in.

 

I don't want Pompey to go into liquidation, because no club and no fans of said club, actually deserve that. But Pompey have had it coming for years and years now, and it's beginning to be a bit of a piss-take to be honest. The Football League, instead of liquidizing them, should just relegate them, or sack all of their players like what happened with Darlington and make them start again with freebees and loans, or both.

 

This is the news:

http://m.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/andronikou_says_pompey_face_fight_with_the_taxman_over_1_6m_unpaid_bill_1_3443262

 

...the club hasn't got significant debts...' Yes it has!


The fans need to be told the extent of the damage now!

 

Just read the news article, think RLGB was a little gullible to put the 48 hour headline to this thread in, but it's not good news for us tax payers. All this means is that any new owner would have to virtually piss away 1.6m before anything else. Then face a 1.2m charge in April and a monthly tax bill of 800k every month.

Do Pompey have players worth anything to sell, this is just bad bad bad

 

I'm just wondering, what happened to the Parachute payments? Aren't they like 40 million this season?

 

How much tax dodging is that club going to get away with? Disgrace. How does this Lampitt clown get away with not paying the tax bill.

 

An HMRC spokesman said: ‘Any business that regards paying tax as an optional extra after other expenses are met, or that uses tax collected from employees or customers as working capital, is potentially heading for trouble.’


The Portsmouth business model there for all to see.

I dont understand why there's all this sympathy for them. They were a lower league club that overspent, knocked charities and generally bent the financial rules to suit themselves.Every club deserves a second chance but instead of taking it they had a delebrate policy of overpaying yet again. Ipswich siad that they were amaazed at what they were offering Norris and couldn't compete.Paul Jewell's quote ‘How Portsmouth have money to sign Norris is anybody’s guess’ .

Even now they are not paying HMRC and yet turning down bids for players.

They had a second chance, a chance that others have taken, but they refused to run the club in the correct manner and pay their dues. They seem to think they have a god given right to do what they want and pay when they please themselves (if at all). Their gates have been pathetic this season and surely it's time for them to be relegated to the conference and finally rid the FL of this stain on its good name.

 

You are clearly confusing who is who down south.
Clearly drinking too much - quite a problem in your neck of the woods I believe

 

Obviously don't want them liquidated, but maybe relegated a few tears would be good. They haven't received enough punishment for their actions just yet.

 

The 48 hour deadline was something that was picked up from another forum.

Having then scene the tweet I just sort of rushed through and out to 2+2 together and got 4.5...

Tax Man will most likely come out on Monday taking Pompey back to High Court, that is my opinion.

 

I think the Duke of Edinburgh would tend to agree with you. http://listverse.com/2007/09/11/top-15-quotes-of-prince-philip/ [see no.7]

 

I think people who say they are sorry for Pompey (including me) don't mean the business they mean the fans (typed fins there, must be freudian). They are not responsible directly for what happens at the club.

 

It's beyond me how they have only had one points deduction so far.

 

I was astonished to read that their first payment under the CVA is not due till 1st April, which means that nothing has been paid, apart from charitable liabilities met by some fans. It does show that the HMRC were right last time and not the other creditors who were trying to make the best of a bad job. The pain has just been delayed.

 

Calm down everyone, all we need to do is take them for a nice lunch, get a sweetheart deal and all will be fine, it works for most companies with HMRC

 

Could be a money raising scheme. Give us money and you won't have to have lunch with AA...shudder.

 

Incredible they are going down the exact same path as before... and getting away with it.

They are saying, its ok to be paying millionairres their wages each month, but we won't bother paying our taxes or small local creditors either.

If they are not in administration, why do they have an Administrator trying to sell them?

Their only source of income is the parachute payment following relegation from the Prem. Yet the Premier League said before they would withold any future payments if Pompey got into trouble again. So I presume they are doing that?

Surely Pompey have also not complied with their CVA, so a winding-up petition should immediately be issued against them.

As for the Football league letting them buy new players and award long contracts... well, sums up the absolute incompetance of football bodies.

Swindon and Salisbury demoted two divisions for offences a lot less than this. Bournemouth get 17 point deduction for having far less debt than Pompey. One rule for one, another for Pompey. It is incredible and in my opinion... criminal.

 

Get off your high horse. Pompey's "second chance" as you put it, was ruined by CSI going into administration after Antonov's bank was closed. The decision to allow a man with know dodgy financial dealing to take charge of the club was the Football Leagues. Before CSI went into administration the payments to the taxman were met. It is not Pompey being poorly run this time that cause this problem but the parent company, CSI, being poorly run.

 

Spot on CBK. Add Luton and Chester to that list ...

Like others I have great sympathy for fans of PFC (apart from always considering them to be misguided, of course) but this has to be the end of the road or the view that some clubs are too big to allow to fail will be reinforced. Well run clubs who are not getting to FA Cup Finals may decide it is worth a flier to copy them. The likes of Norwich, Stoke and Wolves spring to mind, not to mention a South coast club that is now being run on sensible business principles.

When all seater stadia were introduced and many said it would price out "your ordinary fan" smart pundits like Nick Hornby pointed out that football is not a social service to which we are all entitled. It is a local business, and has to run on business lines. This has to be right.