Goodbye Portsmouth

[The Fish 8973]

So that I'm clear. Spurs have loaned him to Portsmouth?

[khay 8]

Think this would be extreme circumstances like. Who do they have left to sell bar James? and he is far to old to go to arsenal.

 

But that's just it. What constitutes 'extreme circumstances' for the future? As soon as clubs realised they were going to end up 'mid table' and safe, they would be claiming 'extreme circumstances' in order to get players sold to make their books balance.

 

I doubt many clubs would be willing to admit that they are going bankrupt and have to sell players, as it won't benefit the team in "extreme circumstances" league position.

[khay 8]

So that I'm clear. Spurs have loaned him to Portsmouth?

 

Yes. Twice. Once at the start of the season until January and then again at the end of January till the end of the season once Pompey had their transfer ban lifted.

[Marko 0]

Premier League set a very dangerous precedent if they allow Pompey to sell players. I'm certain they wont allow it. Simply because the club have had just over a month to sell players in the last window and they only sold two of them!

 

Also, for once, I'm agreeing with Phil Brown here:

 

"Hull were interested in signing the same players as Portsmouth last summer - the likes of Frederic Piquionne and Aruna Dindane - but couldn't compete financially with Pompey when it came to both fees and wages.

 

If Portsmouth were then kept afloat with Premier League money - after spending beyond their means - how could that be fair on teams like Hull who might go down because they missed out on those players that went to Portsmouth even though they couldn't afford them?".

[acrossthepond 699]

Some theorizing on Soccernet about who might be sold. Last time the league allowed a player to be sold outside the transfer window was Hull in 97 when they sold Roy Carroll to Wigan so they could stay in business, but Carroll wasn't allowed to play or even be registered until the next season. He wasn't even allowed to play for the reserve team. So with Belhadj going to South Africa, he won't want to be in football limbo until next season.

 

Then as Fish mentioned already, KP Boateng already played for Tottenham this season in the Carling Cup, so he's out too.

[TicTacWoe 0]

Some theorizing on Soccernet about who might be sold. Last time the league allowed a player to be sold outside the transfer window was Hull in 97 when they sold Roy Carroll to Wigan so they could stay in business, but Carroll wasn't allowed to play or even be registered until the next season. He wasn't even allowed to play for the reserve team. So with Belhadj going to South Africa, he won't want to be in football limbo until next season.

 

Then as Fish mentioned already, KP Boateng already played for Tottenham this season in the Carling Cup, so he's out too.

 

I suppose they could get between 500k and 1 million for the likes of Hreidersson, Utaka, Nugent (already out on loan), Wilson etc, can't see that making a huge amount of difference.

[Marko 0]

Clubs will identify who they want, wait for portsmouth to be liquidated then pick up the player as a free agent. They will also be able to register the player and he will be allowed to play

[The Fish 8973]

Then as Fish mentioned already, KP Boateng already played for Tottenham this season in the Carling Cup, so he's out too.

I did?

 

Fuck it, I'm 'aving that! Bobby Zamora style

[acrossthepond 699]

Then as Fish mentioned already, KP Boateng already played for Tottenham this season in the Carling Cup, so he's out too.

I did?

 

Fuck it, I'm 'aving that! Bobby Zamora style

 

I must've meant TicTacWoe. Sorry for that piscine mix-up TTW.

[Sonatine 9971]

Portsmouth's wage bill for the current season is more than £50m, Observer Sport has learned. If they are to remain a going concern they must find a crippling £4.3m a month to pay it, until May at the earliest.

 

Once tax and NI payments are added to the basic £1.8m players receive each month, and other staff wages are taken into account, the club are still shelling out far more in wages than their Premier league TV money and matchday income combined. The chief executive, Peter Storrie, accounts for more than £100,000 a month and earns £1.4m a year.

 

Some sources at the club suggested that the monthly outgoings include payments to ex-players, and even former manager Harry Redknapp, though this was not confirmed by a club spokesman who declined to comment on the wage bill.

 

The players, many of whom have since been sold, who won the 2008 FA Cup and qualified for the Uefa Cup were promised bonuses that added up to far more money than Portsmouth made in their Cup run. Some of this money is still outstanding.

 

In a January column for Observer Sport goalkeeper David James wrote: "After we won the Cup I was told that one of our financial people predicted it would ruin us. They were right. The heavy bonus culture, endemic in our game, became the curse as the earnings of the Cup run did not tally up with the bonuses paid out.

 

"I'm a big fan of performance-related pay, but if it's not within the realms of reality then it's just irresponsible. Who would have thought qualifying for Europe and winning the FA Cup would cause such problems?"

 

"It doesn't surprise in me in the least, its symptomatic of the chaotic regimes we have had at Fratton Park in recent years," said Colin Farmery, of the Pompey Virtual Alliance, a coalition of various supporters groups.

 

The size of the wage bill explains why the financially stricken club are all but certain to become the first in Premier League history to enter administration.

 

Manager Avram Grant has the smallest squad in the League, with numbers depleted by the departure since last summer of 14 players, among them Sol Campbell, Peter Crouch, Glen Johnson, Sylvain Distin, Niko Kranjcar, Djimi Traoré, Sean Davis, Younes Kaboul, and David Nugent, who is on loan at Burnley but not off the wage bill. Nugent's wages are jointly taken care of by Portsmouth and Burnley.

 

Portsmouth's highest earner is David James, who is paid around £50,000 a week. But beyond the England goalkeeper very few players are thought to earn a similar salary. John Utaka has been widely reported as earning £80,000 a week, though the club say the real ­figure is about a third of that. He does, however, boost his earnings ­considerably with bonus payments.

 

Redknapp, speaking on Friday, denied that wages were the problem but made no mention of hefty bonuses. He is thought to been awarded a £1m bonus for ­winning the FA Cup, with his ­players picking up in excess of £250,000 a-man.

 

He said: "People talk nonsense about wages, you see all this rubbish about John Utaka earning eighty grand a week, he's not. He's earning £28,000 a week. Peter Storrie told me that, Peter showed me his contract the other week.

 

"They keep saying about the wages they paid, it's rubbish. I don't know where the money's gone, it's gone ­somewhere."

 

Beyond the wage bill, the Observer Sportcan reveal other costs that explain why ­Portsmouth are in such trouble. They appear certain to go into administration, which would mean a nine-point ­deduction and certain relegation.

 

The club owe nearly £10m in unpaid transfer fees, and £4.4m to agents, among them Pini Zahavi, the Israeli agent, and the Stellar group, which are owed £2.3m and £310,000 respectively.

 

Portsmouth are due at the High Court tomorrow week for the winding-up petition served by Her Majesty's Revenue and Customs, which will decide the fate of the 112-year-old club.

 

Given the scale of the debts, estimated at £60m, and the outgoings, it appears highly improbable that any new investment or buyer will be found before the 1 March hearing.

 

Complete madness that they got themselves into this mess

[snakehips 0]

Portsmouth's wage bill for the current season is more than £50m, Observer Sport has learned. If they are to remain a going concern they must find a crippling £4.3m a month to pay it, until May at the earliest.

 

Once tax and NI payments are added to the basic £1.8m players receive each month, and other staff wages are taken into account, the club are still shelling out far more in wages than their Premier league TV money and matchday income combined. The chief executive, Peter Storrie, accounts for more than £100,000 a month and earns £1.4m a year.

 

Some sources at the club suggested that the monthly outgoings include payments to ex-players, and even former manager Harry Redknapp, though this was not confirmed by a club spokesman who declined to comment on the wage bill.

 

The players, many of whom have since been sold, who won the 2008 FA Cup and qualified for the Uefa Cup were promised bonuses that added up to far more money than Portsmouth made in their Cup run. Some of this money is still outstanding.

 

In a January column for Observer Sport goalkeeper David James wrote: "After we won the Cup I was told that one of our financial people predicted it would ruin us. They were right. The heavy bonus culture, endemic in our game, became the curse as the earnings of the Cup run did not tally up with the bonuses paid out.

 

"I'm a big fan of performance-related pay, but if it's not within the realms of reality then it's just irresponsible. Who would have thought qualifying for Europe and winning the FA Cup would cause such problems?"

 

"It doesn't surprise in me in the least, its symptomatic of the chaotic regimes we have had at Fratton Park in recent years," said Colin Farmery, of the Pompey Virtual Alliance, a coalition of various supporters groups.

 

The size of the wage bill explains why the financially stricken club are all but certain to become the first in Premier League history to enter administration.

 

Manager Avram Grant has the smallest squad in the League, with numbers depleted by the departure since last summer of 14 players, among them Sol Campbell, Peter Crouch, Glen Johnson, Sylvain Distin, Niko Kranjcar, Djimi Traoré, Sean Davis, Younes Kaboul, and David Nugent, who is on loan at Burnley but not off the wage bill. Nugent's wages are jointly taken care of by Portsmouth and Burnley.

 

Portsmouth's highest earner is David James, who is paid around £50,000 a week. But beyond the England goalkeeper very few players are thought to earn a similar salary. John Utaka has been widely reported as earning £80,000 a week, though the club say the real ­figure is about a third of that. He does, however, boost his earnings ­considerably with bonus payments.

 

Redknapp, speaking on Friday, denied that wages were the problem but made no mention of hefty bonuses. He is thought to been awarded a £1m bonus for ­winning the FA Cup, with his ­players picking up in excess of £250,000 a-man.

 

He said: "People talk nonsense about wages, you see all this rubbish about John Utaka earning eighty grand a week, he's not. He's earning £28,000 a week. Peter Storrie told me that, Peter showed me his contract the other week.

 

"They keep saying about the wages they paid, it's rubbish. I don't know where the money's gone, it's gone ­somewhere."

 

Beyond the wage bill, the Observer Sportcan reveal other costs that explain why ­Portsmouth are in such trouble. They appear certain to go into administration, which would mean a nine-point ­deduction and certain relegation.

 

The club owe nearly £10m in unpaid transfer fees, and £4.4m to agents, among them Pini Zahavi, the Israeli agent, and the Stellar group, which are owed £2.3m and £310,000 respectively.

 

Portsmouth are due at the High Court tomorrow week for the winding-up petition served by Her Majesty's Revenue and Customs, which will decide the fate of the 112-year-old club.

 

Given the scale of the debts, estimated at £60m, and the outgoings, it appears highly improbable that any new investment or buyer will be found before the 1 March hearing.

 

Complete madness that they got themselves into this mess

 

I have no evidence whatsoever to back this up, but I reckon this is all down to Rednkapp and Storrie. I bet Redknapp's eyes were going like 'Blinkin' Ben's' (see The Thick Of It) when he was making the comments, above.

[Craig 6300]

Portsmouth's wage bill for the current season is more than £50m, Observer Sport has learned. If they are to remain a going concern they must find a crippling £4.3m a month to pay it, until May at the earliest.

 

Once tax and NI payments are added to the basic £1.8m players receive each month, and other staff wages are taken into account, the club are still shelling out far more in wages than their Premier league TV money and matchday income combined. The chief executive, Peter Storrie, accounts for more than £100,000 a month and earns £1.4m a year.

 

Some sources at the club suggested that the monthly outgoings include payments to ex-players, and even former manager Harry Redknapp, though this was not confirmed by a club spokesman who declined to comment on the wage bill.

 

The players, many of whom have since been sold, who won the 2008 FA Cup and qualified for the Uefa Cup were promised bonuses that added up to far more money than Portsmouth made in their Cup run. Some of this money is still outstanding.

 

In a January column for Observer Sport goalkeeper David James wrote: "After we won the Cup I was told that one of our financial people predicted it would ruin us. They were right. The heavy bonus culture, endemic in our game, became the curse as the earnings of the Cup run did not tally up with the bonuses paid out.

 

"I'm a big fan of performance-related pay, but if it's not within the realms of reality then it's just irresponsible. Who would have thought qualifying for Europe and winning the FA Cup would cause such problems?"

 

"It doesn't surprise in me in the least, its symptomatic of the chaotic regimes we have had at Fratton Park in recent years," said Colin Farmery, of the Pompey Virtual Alliance, a coalition of various supporters groups.

 

The size of the wage bill explains why the financially stricken club are all but certain to become the first in Premier League history to enter administration.

 

Manager Avram Grant has the smallest squad in the League, with numbers depleted by the departure since last summer of 14 players, among them Sol Campbell, Peter Crouch, Glen Johnson, Sylvain Distin, Niko Kranjcar, Djimi Traoré, Sean Davis, Younes Kaboul, and David Nugent, who is on loan at Burnley but not off the wage bill. Nugent's wages are jointly taken care of by Portsmouth and Burnley.

 

Portsmouth's highest earner is David James, who is paid around £50,000 a week. But beyond the England goalkeeper very few players are thought to earn a similar salary. John Utaka has been widely reported as earning £80,000 a week, though the club say the real ­figure is about a third of that. He does, however, boost his earnings ­considerably with bonus payments.

 

Redknapp, speaking on Friday, denied that wages were the problem but made no mention of hefty bonuses. He is thought to been awarded a £1m bonus for ­winning the FA Cup, with his ­players picking up in excess of £250,000 a-man.

 

He said: "People talk nonsense about wages, you see all this rubbish about John Utaka earning eighty grand a week, he's not. He's earning £28,000 a week. Peter Storrie told me that, Peter showed me his contract the other week.

 

"They keep saying about the wages they paid, it's rubbish. I don't know where the money's gone, it's gone ­somewhere."

 

Beyond the wage bill, the Observer Sportcan reveal other costs that explain why ­Portsmouth are in such trouble. They appear certain to go into administration, which would mean a nine-point ­deduction and certain relegation.

 

The club owe nearly £10m in unpaid transfer fees, and £4.4m to agents, among them Pini Zahavi, the Israeli agent, and the Stellar group, which are owed £2.3m and £310,000 respectively.

 

Portsmouth are due at the High Court tomorrow week for the winding-up petition served by Her Majesty's Revenue and Customs, which will decide the fate of the 112-year-old club.

 

Given the scale of the debts, estimated at £60m, and the outgoings, it appears highly improbable that any new investment or buyer will be found before the 1 March hearing.

 

Complete madness that they got themselves into this mess

 

If the Arabs walk out on Citeh (and lets face it, they're not going to write blank cheques forever and a day) they'll be in a bigger mess than Pompey are.

 

Portsmouth were fine whilst Gaydamak was owning them - it only started falling apart when he sold up.

 

I read somewhere that Citeh's turnover is currently £70m p.a. and that their wage bill is around £135m p.a. and rising!! It's not sustainable and surely sooner or later, it's all going to come crashing down?

[Barney 0]

Nice to see Harry completely advocating himself of all blame. Top geezer.

[Kitman 2188]

Complete and utter madness.

 

But consider this: would you trade a lifetime of being also rans and make weights for one glorious moment in the sunshine, watching your team lift a major domestic trophy, in the certain knowledge that it would send the club down the shitter a year or so later? A brief and intoxicating taste of glory at new Wembley, warming your cockles on many a cold winter's night, although you know you'll watch your club ripped to bits by faceless accountants and bankers?

 

Tough choice for me. I'm 42 and I doubt whether the toon will win a major trophy in my lifetime. I wonder how many Pompey fans would make that pact with the devil and do it all again, for that one sweet moment?

[Barney 0]

Complete and utter madness.

 

But consider this: would you trade a lifetime of being also rans and make weights for one glorious moment in the sunshine, watching your team lift a major domestic trophy, in the certain knowledge that it would send the club down the shitter a year or so later? A brief and intoxicating taste of glory at new Wembley, warming your cockles on many a cold winter's night, although you know you'll watch your club ripped to bits by faceless accountants and bankers?

 

Tough choice for me. I'm 42 and I doubt whether the toon will win a major trophy in my lifetime. I wonder how many Pompey fans would make that pact with the devil and do it all again, for that one sweet moment?

 

Couple of decent games in Europe too.

[ChezGiven 0]

Nice to see Harry completely advocating himself of all blame. Top geezer.

 

abdicating?

[Andrew 4201]

Complete and utter madness.

 

But consider this: would you trade a lifetime of being also rans and make weights for one glorious moment in the sunshine, watching your team lift a major domestic trophy, in the certain knowledge that it would send the club down the shitter a year or so later? A brief and intoxicating taste of glory at new Wembley, warming your cockles on many a cold winter's night, although you know you'll watch your club ripped to bits by faceless accountants and bankers?

 

Tough choice for me. I'm 42 and I doubt whether the toon will win a major trophy in my lifetime. I wonder how many Pompey fans would make that pact with the devil and do it all again, for that one sweet moment?

 

its not even that though, they're under a very real threat of not existing at all anymore, would I accept NUFC winning the FA cup for us to not exist 2 years down the line

 

absolutely not

[Barney 0]

Nice to see Harry completely advocating himself of all blame. Top geezer.

 

abdicating?

 

 

That's what I wood of wrote.

[ChezGiven 0]

Nice to see Harry completely advocating himself of all blame. Top geezer.

 

abdicating?

 

 

That's what I wood of wrote.

 

[Kitman 2188]

Complete and utter madness.

 

But consider this: would you trade a lifetime of being also rans and make weights for one glorious moment in the sunshine, watching your team lift a major domestic trophy, in the certain knowledge that it would send the club down the shitter a year or so later? A brief and intoxicating taste of glory at new Wembley, warming your cockles on many a cold winter's night, although you know you'll watch your club ripped to bits by faceless accountants and bankers?

 

Tough choice for me. I'm 42 and I doubt whether the toon will win a major trophy in my lifetime. I wonder how many Pompey fans would make that pact with the devil and do it all again, for that one sweet moment?

 

its not even that though, they're under a very real threat of not existing at all anymore, would I accept NUFC winning the FA cup for us to not exist 2 years down the line

 

absolutely not

 

Fair point but personally I don't think anyone will let Pompey go down the gurgler. Too much money to lose if that happens.

[Craig 6300]

from the BBC....

 

FOOTBALL: Portsmouth say they will go into administration unless new owner is found by Friday

[Craig 6300]

Portsmouth move closer to entering administration

 

Portsmouth will go into administration by Friday unless a buyer is found for the Premier League's bottom club.

 

If Pompey enter administration, they will be docked nine points but the winding up order due to be heard on 1 March will be suspended.

 

A spokesman for Pompey owner Balram Chainrai said: "There is now only a short window of opportunity for buyers to come in with a credible offer.

 

"Having the club wound up is not an option as far as we are concerned.

 

Portsmouth have debts of £70m and the winding up order was over £7.5m owed to HM Revenue and Customs.

 

The spokesman said: "The serving of this notice means the winding up order is automatically suspended.

 

"It means the club is safe, it can fulfil its fixtures and as far as is possible it is business as usual.

 

"Administration would mean the club re-emerging as a healthy financial entity.

 

"It would then become an attractive proposition for a potential buyer who could invest new funds in rebuilding the club's future.

 

"Mr Chainrai hopes the supporters will get fully behind the team as usual for their Premier League match at Burnley on Saturday and the following weekend's FA Cup quarter-final at home to Birmingham.

 

"We would like to ask the fans, staff and management of Portsmouth for their support and patience should this step be taken as they believe it is the only route left open to them."

 

One of the parties interested in buying the troubled club has revealed he will not be able to take over the club ahead of Monday's winding up petition.

 

New Zealand-based businessman Victor Cattermole is considering buying Pompey through his investment group but told The Guardian newspaper: "In an ideal world, we would like to purchase the club before Monday, but we will not be rushed.

 

Cattermole's group is one of three potential buyers for the club.

 

Chainrai recently became the club's fourth owner of the season, taking 90% of the club shares after the previous owner Ali Al Faraj defaulted on loan payments due to him.

 

Eight points from top-flight safety, Pompey's financial woes have meant their players have been paid late on four occasions this season.

 

The club are also involved in a separate dispute with former owner Sacha Gaydamak over whether they have missed a deadline in paying a £9m chunk of the £28m they owe him.

 

The Premier League recently withheld £2m of transfer payments and a £7m slice of TV revenue to divert to Chelsea and Watford for the signings of Glen Johnson and Tommy Smith respectively.

 

The Fratton Park club are also being sued by former Pompey defender Sol Campbell for £1.7m for unpaid image rights.

 

Earlier on Monday, another former owner Sulaiman Al Fahim quit as non-executive chairman and offered his 10% stake to the Pompey Supporters' Trust.

 

Source: http://news.bbc.co.uk/sport1/hi/football/t...uth/8527495.stm

[Marko 0]

If they enter Administration will they not be liquidated? what about the £7.5m debt owed to HMRC?

[donaldstott 0]

They have to pay 10p in the £1 on debts. So they owe HMRC £750,000.

 

The problem the owner has is that the club owes him a lot of money and by putting the club in administration, he won't get it back. Of course if the club goes bust he'll not get a penny.

[ChezGiven 0]

They have to pay 10p in the £1 on debts. So they owe HMRC £750,000.

 

The problem the owner has is that the club owes him a lot of money and by putting the club in administration, he won't get it back. Of course if the club goes bust he'll not get a penny.

 

Dont know the details but if I own something that has a debt of 60m and it also owes me say 5m, administration is a good thing. Thats 55m i dont have to pay back.

 

I'd put the club in administration too, clears the decks of debt and they were getting relegated anyway. If you are definitely going down, the fuck difference does a 10 point deduction make? Get it in now so it doesnt affect the club next year.