Today 04:28 PM #97 Saint-Harry View Profile View Forum Posts Private Message View Blog Entries View Articles Add as Contact Senior Member Achievements: -------------------------------------------------------------------------------- Join Date:Feb 2011 Location:Bournemouth Posts:551 Points:1,810 Level:25 According to Brendan Guilfoyle (an administator), he doesn't think they will get a points deduction. He didn't seem very sure though! Reply Reply With Quote Blog this Post .
Christ it never rains but............ Just read about Bristol City and now read your thread about Portsmouth. I would guess Pompey are heading for a deduction given the circumstances and this being their second journey into the unknown. I feel dreadfully sorry for their fans who must have bum nerves tweaking yet again. I said during our troubled times that it was only a matter of time before another club went completely tits up and there would be no reprieve. I hope this current two are not the start of a domino happening.
tbh I hadn't intended to post on your site but Mr Guilfoyle's name smacked me between the eyes...even I wouldn't wish him on Pompey
There is an irony with Portsmouth and the Administrators. Pompey owner in trouble with the courts for asset stripping. Appoint an administrator who systematically strips millions out of the deal. There was a story in the news about the food hamper company that went tits up last year. They were placed in Admin and the amount earned by them for their supposed work is more than the company had. Therefore the people who paid their money in will end up with nothing and the Administrators will take the whole pot. That is legal of course. Hmmmmmm!!!! just strikes me a little odd that one asset stripper is against the law and the other one is appointed by the law.
OMG I hope they don't end up with Guiltyfool shouldn't someone warn them ? Oh by the way I'm back I started to feel better today until I unloaded the car and a big bottle of coke had come out of the carrier so I thought so I popped it back in only for it to come out the other end (bloody great big hole in the bag ) and land on my foot .... now I think I've broken my toe
Are you really Frank Spencer or Mr Pastry in disguise? Serves you right for drinking or even having American rubbish in your house.
Anyway,back on topic Betty......... It's the Court that appoints the Administrator Gat so they ain't going to get a choice if it is Guilfoyle and Co. He probably can smell assets and is drooling by now.
Surely the courts saw how they handled us or do you think they turn a blind eye ..... guess Fans Reunited will be immoblised again .... truly feel for them if it is Guiltyfool & Co their team will be decimated whilst they will be constantly told that they the administrators are working with "Due Dilligence" ..... hope they don't have a Heaney II up there !
I understand that its Pompey's parent company in admin...Portsmouth FC are still trading...however similar situation to Saints a couple of years ago and the skates will most likely have points deducted again...Guilfoyles comments were as an "expert administrator" ...so not sure what role he is playing...probably a vulture
Lets face it they may not have a business at all this time given this is a serial event for Pompey. I assume the local traders lost a lot under the last collapse and if the thing does go pop again then some will lose for a second time. Not likely to do business with them again are they. They are a more attractive proposition than we were even if it is second time around but a relegation would put them back twenty years. There is a lot of the season to go for a deduction of 10 points to be overcome this time but that of course is if that is all it is. I can't see the FA being pleased to have them back on their radar again so soon and perhaps 10 points might become 20. They are an old fashioned club like we are and I do feel for their stallwarts.
Arn't the FA in court soon versus the HMRC ? HMRC are trying to change the rules .... they failed with us but the next footy club might not be so lucky
You remember the discussions on that topic we had previously Gat. There is absolutely no way that HMRC or the Government as it is otherwise known is going to allow the situation to continue where football is a special case. If you heard the financial statement today then they are going to want all of the revenue they can get from whatever source and damn the consequences. They have long held the view that the rules are wrong and it is only a matter of time before football's luck runs out with the Courts. Personally I fail to understand why football was ever allowed to get away with what they have although grateful that it was up until now for Argyle's sake. But, it doesn't make it right does it however much we hate to see clubs in this position. There is one sure given fact in this world which is that football clubs are going to have to live within their means come what may and these pushes for glory risking everything will have to stop. A club will fold. I hate to say that but it is as obvious as the nose on your face. Maybe more than one will because there could be a domino effect if rules change. When and not if that happens then many clubs will have to change and players will have to change with it regarding wages. They demand and at the moment clubs pay and pray but if the money is not coming in then there are not enough clubs who can afford to stump up a fortune for the number of players. In itself that will be a good thing for the survival of clubs but it will come down to being able to afford success and create a lopsided league. It may be that clubs will descend or climb to their income level and simply pretty much stay there. Could be the ruination of the Championship as that league is more competetive than the premier everytime and is far more interesting as it stands.
Couple of things about this. The Farepak saga confirms what I've been trying to get across to you - administrators ALWAYS strip big money out of the victim company. Nobody likes it, especially those owed money, but that's what they do. It isn't just Guilfoyle & his lot. Secondly, it's true HRMC have failed to change the "football first" rule but if the same clubs start doing twice, three times then you wonder how long the courts will allow it.
The Vulture always arrives after the prey has been downed............picking over the bones and taking the juicy remains..............Brendan Guilfoyle is in Dracula mode again it seems...........what a strange way to make a living.
Well the alternative is of course complete liquidation, so I suppose you could say they're fulfilling a useful role. The question is what control is exercised over what they charge?
Do they clock-in and clock out each day that there working on that case.............or do they think of a number and double it..............it's not as if the bust club have any choice...............the administrators are surely involved with other commitments during there time at that club..............who keeps an eye on them.
I doubt anyone would say they were not fullfilling a useful role notdistant. The complaint is the amount charged for the service provided. Nobody wants to see companies whether football or not liquidated if it can be saved as a going concern along with the jobs involved. In our own case it was not so much the process as the way the process appeared to be conducted followed by the amount it was going to cost. Even vultures have a purpose and are useful in their way but in their case the carcuss has died prior to their arrival and the amount of pickings is limited. I still say,even if HMRC have lost their latest attempt to overturn the current rules on football clubs, that it is only a matter of time before that changes and they get their way. It is unjustified for them to be treated any differently and at some point the courts will agree. When and not if that happens they will go for the throat at the first opportunity as they are champing at the bit already.
I absolutely agree the rule should be changed - for the good of football as it would make clubs less keen to "lend" money to other clubs by selling them players they can't afford on tick. I see the League are claiming this could lead to a domino effect as the failure of one club brings down others. Nonsense, they can introduce rules restricting the creation of debts between clubs by requiring immediate payment of balances due and introduce the type of bonding schemes that protect travel agents. Lastly they could enthusiastically endorse and enforce the type of regulations EUFA is trying to push through to make clubs live within their means and outlaw large scale injections of cash by their owners except on an equity basis.
