Portsmouth on the brink again...

[bobby brows]

Doesn't look good for Portsmouth, small ground, small following, land the ground is on worth nothing, premier league parachute payments about to dry up.

Still paying for the Harry Redknapp era's

Portsmouth are facing a 10-point deduction after the club's advisors confirmed they are seeking to go into administration.

It will be the second time in as many years that the club has gone into administration. The Fratton Park club face a winding-up hearing next week over an unpaid tax bill and have not been able to pay their players and staff for January.

Peter Kubik, of the club's financial advisors UHY Hacker Young, said: "They are in the process of seeking an administration order - an application to court seeking administration is due to go in any day.

"The club's bank accounts have been frozen due to the winding up hearing and they are finding it very difficult to trade. Once the administration order is in place the bank accounts will be made accessible again.

"We are aware that administration carries an automatic 10-point deduction by the Football League."

Pompey were plunged into another financial crisis after their parent company, Convers Sports Initiatives, went into administration in November. UHY Hacker Young are the administrators for CSI.

The tax bill is for between £1.2m and £900,000 but Kubik said there were many other outstanding bills to pay. Among these, the club needs to pay their electricity supplier in order to avoid being cut off.

"There are lots of bills they need to pay," added Kubik.

In February 2010 Portsmouth became the first Premier League club to enter administration and were deducted nine points, condemning them to relegation.

A 10-point deduction from the Football League would put Pompey on 25 points, outside the relegation places on goal difference alone.

http://www.guardian.co.uk/football/2012 ... nistration

[DoomMerchant]

...and yet Arry for Engerland is the call of the day...fucl me.

the (alleged, but acquitted) tax cheat is squarely to blame for their quandary, is he not?

cheers

[Im_Spartacus]

He is only to blame to the same extent Keenan was to blame for overspending at city or O'leary at leeds. Ultimately the overspending buck stops with the owner and the board, as does paying the tax bills.

This is a problem that just doesn't seem to be going away, why the hell don't hard just close them down - its our money at the end of the day.

I think clubs should be "allowed" to go not administration once, if they go again because the original administration was not handled correctly the club should be shut down. The club can always start again in none league. I know many will say that it could have happened to us, and yes it could, but this bullshit cannot be allowed to just carry on......club chairmen need to know that hard are prepared to wind a club up who are in default, rather than keep relying on administration.

[Im_Spartacus]

* hard should read hmrc damn the iPad

[CityGer]

...and yet Arry for Engerland is the call of the day...fucl me.

the (alleged, but acquitted) tax cheat is squarely to blame for their quandary, is he not?

cheers

What about the cunt who let him spend the money? No one blamed O'Leary when Leeds went to shit. It was all Ridsdale.

Listen, Im all for a bit of 'Arry bashing but it's a managers job to get the best team out on the park. It's CE and Chairman's job to manage the purse strings, balance the books and tell the manager to fuck off and get real occasionally.

[bobby brows]

fair comment about the owners being money marks...

...the only ones that suffer are the supporters and the non-playing employees of the club

[lovecity8utd]

Is there a number of times a club can go into administration before someone makes the decision that enough is enough? I feel sorry for all of the innocent creditors who get caught up in all of this and have to take a huge cut in monies owed, not to mention joe public for any unpaid taxes.

[Nigels Tackle]

fair comment about the owners being money marks...

...the only ones that suffer are the supporters and the non-playing employees of the club

the 'footballers first' creditor system is ridiculous.

[BlueinBosnia]

land the ground is on worth nothing

Odd. I thought the land their ground was on was worth more than any other ground in professional sport in Britain. Even Stamford Bridge.

[bobby brows]

land the ground is on worth nothing

Odd. I thought the land their ground was on was worth more than any other ground in professional sport in Britain. Even Stamford Bridge.

maybe it is, although i wouldn't understand why? albeit near a railway station there isn't much to the area! Can't believe that the value of the land is higher than stamford bridge (although i suppose thats cos the land that the stands sit on and the pitch are two different entities.) but you never hear of talks to sell the land

[BlueinBosnia]

land the ground is on worth nothing

Odd. I thought the land their ground was on was worth more than any other ground in professional sport in Britain. Even Stamford Bridge.

maybe it is, although i wouldn't understand why? albeit near a railway station there isn't much to the area! Can't believe that the value of the land is higher than stamford bridge (although i suppose thats cos the land that the stands sit on and the pitch are two different entities.) but you never hear of talks to sell the land

Sorry, was talking about price per square foot/metre. Should have made that clear.

Portsmouth as a town is massively short on building land. Football stadiums can be built on green belt land, thus, in theory, alleviating much of the development pressure were the club to relocate. However, there is a stipulation in the ground contract (I think it was donated to the club) that the land cannot be used for any purpose other than football, unless Portsmouth FC buy and relocate to an equally appropriate location, or the club ceases to exist.

[bobby brows]

Pompey are unlikely to get a new stadium unless there is a desperate need for a Tesco to be built in that area of Fratton and they step and save the club and help to build a new stadium ala Southend and Lancashire.

Judging by whats being said, it could be the end for Portsmouth