http://www.bbc.co.uk/sport/0/football/18816436 ....sigh.....punished again. When will the FL/FA realise they are punishing the fans?!
Interestingly - condition 2 has direct implications for Chanrai. Therefore, as a condition of membership, any new company established to apply for ownership of Portsmouth Football Club’s share in The Football League will be required to: 1. Accept a deduction of 10 points in the 2012/13 season; 2. Agree that only a limited proportion of the secured debt from the previous club can be carried forward into the new company as secured debt. 3. Pay all football creditors in full, unless mutually acceptable compromise agreements are put in place. 4. Agree to a range of other restrictions on playing budgets, future borrowing and loan repayments for the next 5 seasons. I would love to know what the limit will be on the secured debt - and how much will it be a fly in the ointment on Chanrai's determination to get back his loans.
I, honestly, cannot believe it .. http://www.bbc.co.uk/sport/0/football/18816436 I can't understand why the Football League are angry- we are offloaing players almost daily, and three or four more are expected to leave in the next couple of days ?? What do we need to do to make them happy ?? God, I could kill every single one of the League Members, or whatever they call themselves ! Maybe we should begin to plan our League Two strategy now. Unbelievable. Absolutely Unbelievable.
One of the things that article fails to mention is that one of the terms prohibits Chanrai talking his whole debt over to the new company. Perhaps it's their way of trying to help - points deduction notwithstanding. Therefore, as a condition of membership, any new company established to apply for ownership of Portsmouth Football Club’s share in The Football League will be required to: 1. Accept a deduction of 10 points in the 2012/13 season; 2. Agree that only a limited proportion of the secured debt from the previous club can be carried forward into the new company as secured debt. 3. Pay all football creditors in full, unless mutually acceptable compromise agreements are put in place. 4. Agree to a range of other restrictions on playing budgets, future borrowing and loan repayments for the next 5 seasons.
I think they may be concerned that a singe creditor could take control of the club (I wonder who?), get his hands on the income transferring it away to recover his money and then leave all the other creditors in the mire as he folds the club.
agree with st godders on this one........although they could have imposed sanctions with out the points deduction BP
I think this is geared towards facilitating the supporters bid being the preferred choice. It stops Chanrai taking his full secured debt across to newco, thus reducing the benefit of him continuing to own the club. The 10 point deduction apart, this could be the best news Pompey fans have had for a long while - seriously!
No, I was taking the piss out of the Leeds fan who I used to work with. He's no longer working with us, but I expect a visit, to see his old mates, is imminent.
Message from Ricardo Rocha via twitter: (for those of you who aren't on twitter). Everybody needs to be stronger because everything is against the club but we will never die!! Fans show your support and keep the faith! PUP
On a serious note, not the end of the world. Can still get promotion, we got to the play-off final with -15 so it can be done.
This news immediately put me in mind of Southampton a few seasons back when the Football League demanded concessions before accepting the clubs membership and it scarpered Le Tissier's bid. Personally I would accept it and move on.
What a great message, hope you can be strong and the players who you have play with 100% commitment, if they do you will be fine.
