Cosmo
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Not confirmed yet, but Avram just said they have been told the club is going in to administration.
They'll still have to go to the hearing for the winding up order, and if they cant find the £11.5m or whatever it is, then HMRC will issue the winding up order and its bye bye Pompey.
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Nath
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If they go into Admin surely they'll get their parachute payments early? I'm convinced the Prem won't let one of their own go under.
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mwg
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Registered: 19th Feb 04
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badgers 
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p
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Old news. They were told Monday they will go in to administration by Friday.
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Cosmo
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quote:
Originally posted by corsadee
Old news. They were told Monday they will go in to administration by Friday.
Not according to Avram.
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Cosmo
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quote:
Originally posted by Nath
If they go into Admin surely they'll get their parachute payments early? I'm convinced the Prem won't let one of their own go under.
They've already refused to help out according to the reports that came out last week.
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mwg
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Go on Man City, bail them out just till the end of the season 
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Nath
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quote:
Originally posted by Cosmo
quote:
Originally posted by Nath
If they go into Admin surely they'll get their parachute payments early? I'm convinced the Prem won't let one of their own go under.
They've already refused to help out according to the reports that came out last week.
Believe it when I see it tbh. Not saying the reports are bull, but the Prem wouldn't want egg on their faces if one of their members went under.
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p
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Registered: 20th Apr 04
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quote:
Originally posted by Cosmo
quote:
Originally posted by corsadee
Old news. They were told Monday they will go in to administration by Friday.
Not according to Avram.
Avram 
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.
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Cosmo
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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.
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Nath
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Registered: 3rd Apr 02
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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.
Depends on the CVA.
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Nath
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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.
We'll see.
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Cosmo
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quote:
Originally posted by corsadee
quote:
Originally posted by Cosmo
quote:
Originally posted by corsadee
Old news. They were told Monday they will go in to administration by Friday.
Not according to Avram.
Avram
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.
Did you even read what I wrote?
The winding up order will still stand. If they dont show they can pay the money to HMRC (approx £12m) then they will cease to exist. Now Im unsure on the exact rule, but I guess they cant sell players even if they go in to admin as outside of the transfer window, so what other assets have they got that people would buy within the very short period they have to raise the cash?
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Nath
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Who owns Fratton Park, the council?
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Cosmo
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quote:
Originally posted by Nath
Who owns Fratton Park, the council?
No, I think Pompey do, but I doubt anyone would be interested in a buy and lease back deal given the club could still end up ceasing to exist in the summer!
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p
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Registered: 20th Apr 04
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quote:
Originally posted by Cosmo
quote:
Originally posted by corsadee
quote:
Originally posted by Cosmo
quote:
Originally posted by corsadee
Old news. They were told Monday they will go in to administration by Friday.
Not according to Avram.
Avram
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.
Did you even read what I wrote?
The winding up order will still stand. If they dont show they can pay the money to HMRC (approx £12m) then they will cease to exist. Now Im unsure on the exact rule, but I guess they cant sell players even if they go in to admin as outside of the transfer window, so what other assets have they got that people would buy within the very short period they have to raise the cash?
No I didn't to be fair 
I don't like Portsmouth any way so I hope it does happen 
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Nath
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quote:
Originally posted by Cosmo
quote:
Originally posted by Nath
Who owns Fratton Park, the council?
No, I think Pompey do, but I doubt anyone would be interested in a buy and lease back deal given the club could still end up ceasing to exist in the summer!
It's an assett. Some property developer could get their hands on it.
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Nath
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Oh and apparently Peter Storrie is on £1.2m a year Or thats what he earned last year anyway.
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Cosmo
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quote:
Originally posted by Nath
quote:
Originally posted by Cosmo
quote:
Originally posted by Nath
Who owns Fratton Park, the council?
No, I think Pompey do, but I doubt anyone would be interested in a buy and lease back deal given the club could still end up ceasing to exist in the summer!
It's an assett. Some property developer could get their hands on it.
Nope, the council was on SSN a while back saying the only permission it has and will ever has is for an open top sporting arena.
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mwg
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If they go in to administration will that be the point at which any points and goals gained against them are taken away?
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Nath
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AFC Pompey tbh
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Nath
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quote:
Originally posted by mwg
If they go in to administration will that be the point at which any points and goals gained against them are taken away?
Nope. Only -9 points for them.
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mwg
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So what has to happen for other clubs to start losing their points etc.?
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Cosmo
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Yeah its only when they fail to exist, which will be 1st March if they fail to pay up to HMRC.
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Nath
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quote:
Originally posted by mwg
So what has to happen for other clubs to start losing their points etc.?
Voted out the league altogether.
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