Apologies if this has already been mentionned. Pompey could soon be wound up and cease to exist. With such a history and tradition this would be a great loss to English football. Caused by not living within their means. A salutory lesson for all football clubs.
I knew they were in financial trouble, but I didn't know it had went this far...Sad news if it happens..
This is about the 4th time Pompey have gone tits up there fans must be sick as ****. Arry Redknappa started the ball rolling for them spending way beyond there means. Thank **** for ES & NQ
http://news.bbc.co.uk/sport1/hi/football/16706372.stm Tuesday, 24 January 2012 QUOTE............... Portsmouth have been issued with a winding-up petition by HM Revenue and Customs over unpaid tax. A source at HMRC confirmed to BBC Radio Solent that the petition against Pompey over unpaid tax has been published. Chief executive David Lampitt confirmed on Saturday that Pompey had failed to meet two payments to HMRC. Portsmouth are searching for new owners after parent company Convers Sports Initiatives (CSI) entered administration in November. Continue reading the main story We still have a significant number of parties interested in acquiring the club who are actively pursuing their respective interests Portsmouth FC statementRead the full club statement "Ensuring tax is paid on time should be at the centre of a football club's business strategy just as it should be for any other enterprise," said a HMRC spokesman. "It is only fair to those clubs and to other taxpayers who do meet their obligations that HMRC enforces payment of tax debts owed - and if need be, issues a winding up petition or seeks to appoint an administrator." Italian businessman Joseph Cala pulled out of a deal to buy Pompey on Friday. There is an urgency to complete a deal with fresh backers, as investment is needed if Portsmouth are to meet ongoing costs. CSI's administrator Andrew Andronikou revealed on Friday that Pompey have missed two tax payments of £800,000 to HMRC, totalling £1.6m. Continue reading the main story We are in a difficult position and will remain in a difficult position until the ownership is sorted Portsmouth chief executive David Lampitt In a statement issued on Tuesday, Portsmouth said the winding-up order was the result of the failure of owners CSI to provide promised funding to support the club financially from November to January. "One of the reasons for this is that the administrator has not generated expected funds from the sale of other CSI businesses that might have assisted the club's position," the statement said. ANALYSIS Continue reading the main story This is as bad as it can get for Portsmouth without the club ceasing to exist Guy Thomas, Insolvency lawyer & football finance expertRead more of Thomas's analysis It went on to say that the situation may well result in player sales while new owners for the club are sought. "We still have a significant number of parties interested in acquiring the club who are actively pursuing their respective interests," it added. "We therefore remain positive that a solution will be found before some of these difficult choices have to be made." BBC South understands that any purchaser would need to provide £12m as proof of funds, and assurances they could meet another £20m in repayments to former creditors, Balram Chainrai and Alexandre Gaydamak. The club also said they were still waiting to learn whether they might be docked league points. "The league are finalising their report on the club's position following the administration of CSI and we are expecting to receive the outcome shortly," the statement said. "However, we understand that the league may delay their decision until the club's current ownership situation is closer to being resolved."
Lets not forget though, that they have had rome very good times recently, FA Cup runs, Europe. I don't remember anyone complaining when they had AC Milan at home. A club like Portsmouth will be in a better positions to survive than say a Darlo. I can't sympathise for the fans for their position, but I can for how they were 'deceived' for their success and the the price it is ultimately cosing the club.
Off topic, does anyone remember their game at home to AC Milan in the UEFA Cup? What a game, Ronaldinho scored from a free kick to earn Milan a draw (can't remember the other goals, think it ended 2-2). At least they'll have some incredible memories. EDIT: Sorry, that game has already been mentioned above.
They won't go under. They are fortunately for them a decent prospect for potential investment unlike the likes of a darlo.
