Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
|
Won't be voted, will just be when they are no longer being run, or able to be sold off, as a going concern.
If HMRC complete their winding up order because they fail to prove they can pay what they owe then this would do it.
I fail to see what assets they have other than players which could bring in the money needed in the speed they need it, and unless they get permission to sell outside the transfer window then this wont happen.
|
Nath
Member
Registered: 3rd Apr 02
Location: MK
User status: Offline
|
Depends though, because the same thing is happening to Chester. And thats down to a vote. Even though they owe the HMRC the money. The Conference Board has recommended their explusion, but it's up the the other clubs to decide their fate. Maybe Conference rules differ, I'm not sure.
[Edited on 25-02-2010 by Nath]
|
Rob_Quads
Member
Registered: 29th Mar 01
Location: southampton
User status: Offline
|
quote:
Originally posted by corsadee
As long as they go in to administration at least they won't no longer cease to exist. No doubt when they reach the Championship they may have more docked points.
They could still end up ceasing to exist even ignoring the whole "Cease to exist" HMRC. If it goes into Administration and no-one buys it up then it stil will close up.
Even if someone bought it and wrote of the dept it sounds like they would be in dept after day 1 as all the running costs etc are still more than the club gets.
|
mwg
Member
Registered: 19th Feb 04
Location: South Lakes
User status: Offline
|
Who is it that votes? The Premier League or the clubs? Clubs wont want them out if it means them losing points
|
Nath
Member
Registered: 3rd Apr 02
Location: MK
User status: Offline
|
Even if they do escape going out of business they'll be in League 1 in 2 years I reckon. Ala Leeds. Or worse. Ala Luton 
|
Nath
Member
Registered: 3rd Apr 02
Location: MK
User status: Offline
|
quote:
Originally posted by mwg
Who is it that votes? The Premier League or the clubs? Clubs wont want them out if it means them losing points
Members of the league, aka Clubs.
Chesters vote is tomorrow.
And yep, thats the thing. Everyone has a vested(sp) interest.
|
Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
|
quote:
Originally posted by Nath
Depends though, because the same thing is happening to Chester. And thats down to a vote. Even though they owe the HMRC the money. The Conference Board has recommended their explusion, but it's up the the other clubs to decide their fate. Maybe Conference rules differ, I'm not sure.
I don't think the PL clubs have any say in this tbh. It will all come down to HMRC, if they are going to keep up this tough act they have been, then they will insist on the money right away. If they go all soft they could say to wait until the end of the season when they get the parachute payment.
|
Nath
Member
Registered: 3rd Apr 02
Location: MK
User status: Offline
|
quote:
Originally posted by Cosmo
quote:
Originally posted by Nath
Depends though, because the same thing is happening to Chester. And thats down to a vote. Even though they owe the HMRC the money. The Conference Board has recommended their explusion, but it's up the the other clubs to decide their fate. Maybe Conference rules differ, I'm not sure.
I don't think the PL clubs have any say in this tbh. It will all come down to HMRC, if they are going to keep up this tough act they have been, then they will insist on the money right away. If they go all soft they could say to wait until the end of the season when they get the parachute payment.
Probably be the case tbh.
|
Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
|
Whats the issue with selling players outside of the transfer windows in the lower leagues when clubs go into admin? So the lower lower leagues even have a transfer window?
|
Nath
Member
Registered: 3rd Apr 02
Location: MK
User status: Offline
|
quote:
Originally posted by Cosmo
Whats the issue with selling players outside of the transfer windows in the lower leagues when clubs go into admin? So the lower lower leagues even have a transfer window?
Yeah the same window applies. So I guess it'll be down to the Conference Board to run rule.
|
mwg
Member
Registered: 19th Feb 04
Location: South Lakes
User status: Offline
|
I'm gonna blame this guy
|
strick206
Member
Registered: 12th Apr 07
Location: Wigan Drives:Integra DC5
User status: Offline
|
I think this chanrai geezer has said he will save the club from being wound up if he has to using his business connections. So they will probably be ok
I can see why he would do that also, if it gets wound up, he loses the 20+ million he's put in, so got to be worth the risks because he'll get the parachute payments
|
Limecat
Banned
Registered: 25th Jun 05
Location: The Internet
User status: Offline
|
quote:
Originally posted by Cosmo
It would be just as bad if they had to bail a club out, and it would set up a whole load of precedents for the future and other teams.
Exactly what I was going to put. It would only act as an incentive to spend recklessly.
|
Nath
Member
Registered: 3rd Apr 02
Location: MK
User status: Offline
|
quote:
Originally posted by LETGSI16V
quote:
Originally posted by Cosmo
It would be just as bad if they had to bail a club out, and it would set up a whole load of precedents for the future and other teams.
Exactly what I was going to put. It would only act as an incentive to spend recklessly.
Their very own 'fit and proper persons test' let in these monkeys dont forget.
|
Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
|
quote:
Originally posted by mwg
I'm gonna blame this guy
http://www.orange.co.uk/images/editorial/pompey-fan.jpg
I love the way how Sky always get him on SSN like his thoughts and opinions are gospal.
|
Limecat
Banned
Registered: 25th Jun 05
Location: The Internet
User status: Offline
|
quote:
Originally posted by mwg
Who is it that votes? The Premier League or the clubs? Clubs wont want them out if it means them losing points
Its not as simple as you make out, many clubs would want them wound up to help themselves.
Portsmouth have beaten Wolves, Wigan, Burnley and Liverpool. Those teams would benefit by having Portsmouths results nulified because those around them have more to lose, so it is like them gaining points!
It would have a huge influence on 4th place and on who stays up, any Chairman who would gain (as those above would do!) would opt for them to cease to exist given the chance. Champions League and Premiership survival is very big business, no room for sentiment!
[Edited on 25-02-2010 by LETGSI16V]
|
Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
|
quote:
Originally posted by strick206
I think this chanrai geezer has said he will save the club from being wound up if he has to using his business connections. So they will probably be ok
I can see why he would do that also, if it gets wound up, he loses the 20+ million he's put in, so got to be worth the risks because he'll get the parachute payments
Not really, he could get more money if they do get wound up.
If they dont, he needs to find someone to buy the club for the full value of the debt, that way he gets it all back. I seriously doubt he would get £65m+ (the debt currently, I expect it to grow more by the summer) for what is effectively a Championship side (as they wont stay up).
Now if they get wound up, ALL the clubs assets would be sold to pay the clubs debts. Now imo the value of the clubs assets will be above, or near enough, the full value of the debt - so he would get his money.
|
Tommy L
Member
Registered: 21st Aug 06
Location: Northampton Drives: Audi wagon
User status: Offline
|
http://www.skysports.com/story/0,19528,11661_5980481,00.html
Administration for Pompey
|
Danny P
Member
Registered: 20th Nov 02
Location: Cleckheaton, West Yorkshire
User status: Offline
|
quote:
Originally posted by Cosmo
Not really, he could get more money if they do get wound up.
If they dont, he needs to find someone to buy the club for the full value of the debt, that way he gets it all back. I seriously doubt he would get £65m+ (the debt currently, I expect it to grow more by the summer) for what is effectively a Championship side (as they wont stay up).
Now if they get wound up, ALL the clubs assets would be sold to pay the clubs debts. Now imo the value of the clubs assets will be above, or near enough, the full value of the debt - so he would get his money.
So if they get wound up, sold the ground, players etc the bloke that owns them would get the money? I presume that would be any sort of "profit" after all the debts have been paid?
Is that right or have I read it wrong?
|
Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
|
If they get wound up then it means basically the club stops running, where as administration is similar but the club continues to run as it is whilst it tries to sell of assets or lower costs to cover debt.
But yeah, if they get wound up, they would first have to give any money they make from selling assets (the owners wouldnt have control over this, so amounts gained, etc.) to HMRC, and then a sliding scale down to the last of the people they owe money to. If any if left over then it'll be split between the owners.
The guys selling up though would aim to break even, they certainly wouldnt be selling to find a profit.
|
Danny P
Member
Registered: 20th Nov 02
Location: Cleckheaton, West Yorkshire
User status: Offline
|
Ah I get ya now.
When we went into admin we owed the paper shop across the road from the training ground about £2k  
|
Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
|
Apparently these lot owe a season ticket holding bricky £20k for work he did on their new offices at the stadium
|
Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
|
haha
|
Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
|
 bye bye. confirmed.
|
MJFF88
Member
Registered: 30th Apr 08
User status: Offline
|
http://www.skysports.com/story/0,19528,11674_5982493,00.html
|
