I don't want to sound like a doom-mercheant, but these two articles don't make very nice reading! http://www.bbc.co.uk/sport/0/football/17677437 http://www.bbc.co.uk/sport/0/football/17679909 Will we have a club at all in League One next season? Can we get a new CVA (meaning creditors have to agree to accept just a percentage of their original percentage fro the last CVA!)? Will we be able to carry on, but be forced to accept a hefty points deduction? Will the club go into liquidation? If so, is there time for a phoenix club to be up and running for the new season in August? At which level would "AFC Pompey" start? Conference South?, Southern League Prem? Southern League Division One South and West? The Wessex League? SOME POSITIVE NEWS WOULD BE VERY VERY WELCOME!
Doesn't sound good for Pompey. All the best though, hope someone comes in and sorts the mess out, would be a shame to see a club like Pompey go under.
Will the Trust be able to raise the funds needed to buy the club or part purchase? will one of the other "interested parties" come up with an offer at the end of the season? Whatever, we've got a long hard road ahead of us.
A bigger problem could arise from: http://www.football-league.co.uk/footballleaguenews/20110805/footballs-back_2293334_2410453 Specifically: Makes it even more imperative to get rid of the high earners. We only escaped that by the skin of our teeth.
You don't want to be starting in the Evo-Stik League, Div South & South West. Poole Town would slaughter you!
Pie King remind me what your audited accounts for last season the year you were promoted, revealed, oh yes, a loss of £14+ mn, and player salaries running at 93% of turnover! Pot and kettle spring to mind.
I honestly think that come mid May a statement of some sort will be announced. I think it will come to a point when TB has very little choice but to apply for liquidation. Not trying to be harsh, but just look t the facts an figures and it's going to be extremely tough to come out with the odds stacked against you!
Beyond even unbelievable. How to redeem himself? Perhaps he could "donate" to the fans trust the whole of the fortune he made for himself on the way to taking the club down the path to administration.
I believe that the supporters trust should be planning now to organise the plan B. if someone comes in for PFC then that's great, but I wouldn't bank on that . Should the club be wound up, then AFC Pompey would be free of the debt, the players crippling contracts and could probably negotiate for the stadium, particularly if the council make it clear that they will never allow any other use for the site. Plan for the worst and hope for the best. Horrible, I know, but what else can you do with that level of debt and you would finally be free of the leeches.
It pains me to say it, but I think you are right. Unless, let's be honest here, a completely idiotic billionaire comes onto the scene, then there is no way out. PST cannot raise the kind of money needed. Let's not forget, that if people don't come in for the high wage earners - then we will still be responsible for their wages.
Sad times mike But as you only started taking the better halve to football not that long ago, maybe you should think of showing her a fun and good time and bring her along to St Mary's and show her football is not all Dome and Gloom
Sad times indeed......I really do not think that Pompey are going to pull out of this one either. It is a pity in some ways that previous owners cannot be called over the coals in regards to this. Real shame......Really feel for my mates and genuine Pompey fans........
Trevor Birch is conducting a Q&A session for the news today. Some of the content: On the debt and how much it will cost to buy the club: Trevor: The debt is written off, so it is whatever a buyer is willing to pay for the club and then the old debt will just receive a dividend, like the old CVA On whether £5-10 million is a would be a realistic bid: Trevor: It will probably be in that region On the matter of potential new owners: Trevor: I am working with two potential interested parties but I would not say it is at an advanced stage Trevor: The figure of two excludes the Trust Trevor: They (the two interested parties) haven't been around for ages .. these are new interested parties, having approached me over the last two or three weeks. Don't forget that the club was for sale for effectively 18 months before CSI bought it On how much money Pompey have left from the Premier League Parachute payments: Trevor: At the moment we have two years worth - £14m, including £2m assigned back to the old company for the benefit of Mr Gaydamak On how relegation could effect the attempts to sell the club: Trevor: Relegation may bring other potential buyers out of the woodwork, given that things will be more certain. They may think they can pick up a bargain. The Q&A session is still on-going as I write this but I have to be off for work.
Comment From PompeyMad: Will the selling of players provide some money for the next season? Or will it all go straight into paying off creditors? Trevor: We can't get into next season without a new owner.
Only 10 million to buy the club? Sounds like there will be a future after all. In the grand scale of thisngs that's not much at all. I'm still very confused about how it can be legal to just wipe off 100mil and start again..and then wipe off the new 50mil debt and start again, but it seems it is perfectly ok so good luck to you guys in Pompey. I'm confident you will have a club come next season.
Spot on Channonfodder! I was a Pompey fan but dropped my support when I saw Mandaric holding aloft the Championship Trophy and after securing the land behind the North Stand and Fratton End chose to do nothing with it. From then on everything became surreal for me. Players brought in on massive wages, a new stadium in the harbour, FA Cup! I won't be giving Pompey any support as long as they are indebted to Gaydamak and Chanrai which they will be unless the axe falls. How do I end up supporting Southampton? I have always had a love for Hampshire teams above others so it was only natural to start supporting them again from the depths of League 1 I hasten to add!
Is that a surprise? Anyhow I shall answer yours! You're a gent Lapras! I think a few would accuse me of a crime worse than murder! I posted that I love Hampshire teams to do well. I don't see a problem supporting both clubs - going to PFC one week and SFC the next! People have done it in the past and given them full support whilst there. For me to start loving PFC again the club need to be freed of the chains of Chanrai, Gaydamak etc. It would mean paying off the local businesses, police and tax. I would love to imagine the money raised by the PFC Supporters Trust would be directed towards paying off debts incurred by the club. I think monies raised by Rangers fans a few weeks ago went towards paying a debt their club owed. So never say never. I support both (if I recall correctly a conversation on radio a little while back the football writer Hunter Davies supports both Arsenal and Tottenham) so will start supporting again when PFC have sorted themselves out and have identified objectives that are attainable.
