Pompey are apparently 48 hours from liquidation

Because of the clear explanations from Hotbovril I now have a clearer understanding of what is going on and why, and what the consequences could be. The fact is that it is in no-ones interest, least of all HMRCs, to sell players without getting the funds in up-front. There are more highly paid players the club will want to offload as well and, if my assumption is correct, a court appointed administrator will be able to dictate the terms of a sale in a way that the CEO can't.

 

If you're rich you wouldn't be uninvolved for long. To paraphrase Austin: A single man in possession of a fortune must be in need of a wife. Have to say that I would buy myself a permanent box at SMS, a mainland pied a terre so that I wouldn't always have to return to the Island, and a personal chef.

 

And you should get a 30 point penalty like bournmouth.

 

It is probably the reason, even though some of you have been stamping your feet and having hissy fits, why the points reduction hasn't been made yet. The longer they wait the bigger the deduction could be. Have patience.

 

In normal cases but we all know Portsmouth's finances are nothing normal. Southampton's parent company Southampton leisure holders goes into admin and so do saints. Pompey's parent company CSI go into admin and nothing happens. I just want a bit of equality. You have had your fun "we won the fa cup". Yes with 120 million you never had and only have to pay back 20 per cent of.

 

Our debts were comparatively tiny as most was a mortgage on the stadium. However, our finances were so unstable that a reduction in the bank overdraft of a mere million was enough to push us over the edge. We never had a fraction of the problems that Pompey had.

 

And yet the "owners of the business" who were the instigators of all this mess, were allowed to walk away, without penalty, and leave it for others to try and clean up behind them. And the biggest culprit still owns, and has been allowed to retain ownership of, a £5.5m piece of land in front of the club. Chanrai, who lent money to somebody who everyone believes doesn't even exist (although he passed the PL's F&PPT) put the club into administration and agreed the 20%, and put a charge over the land so he gets full whack back.

I agree - it is an ethical question.

 

Great info from Hotbovril.

Sounds like selling of players is putting a band aid on a burst water pipe and is very much not in the clubs interest. Especially if they need to stay at least 10 points clear of the relegation zone. Weakening the squad would be folly.

I also have a question for Hotbovril. What if Z (total debt) cannot be made up by future income and current assets? I'm guessing that would mean curtains and if so how long from such a ruling would PFC need to find a buyer?

Appreciate there might not be an answer to this hypothetical question

 

With 5 days of the transfer window left we are still a little light in depth so I have had a brilliant idea. Lets spend 120 million we don't have and probably never will and buy left , right and center. When we are in the PL and have won the FA cup and the creditors come calling (this is the best bit) we only have to give back 20 per cent which surely due to our own initiative the Liebherr's will shell out for.

 

Let's do it! One mistake though, there isn't 5 days left

 

Think the mods will spot this and add it quite correctly to the 48 hr thread. Unless I'm reading you wrongly and this is indeed a genius suggestion

 

Yep don't you know it closes on the 34th of January

 

He's not called ultimate optimist for nothing!

 

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and then suffer over a decade of football misery at least....PFC are only in year three of the misery. I prefer our more current sober mindset over the binge and AC milan high experienced by our dear neighbours

 

Ah, didums.

 

Time Team time, just three days to sort it!