Mee Posted 22 October 2010 Posted 22 October 2010 The owner of Portsmouth have apparently just came out and said.."likely the club will now be closed down and liquidated by administrators" 'Tis is a shame. Hopefully they get picked up from it. Lawyer for Portsmouth FC owner in waiting Balram Chainrai say demands of Sacha Gaydamak "puts future of club in jeopardy - club may close"
Ashley Posted 22 October 2010 Posted 22 October 2010 I feel sorry for all Portsmouth fans around the world, isn't nice for a club to go out of business.
purpleronnie Posted 22 October 2010 Posted 22 October 2010 Blimey, hopefully that won't happen. Sad times for pompey fans.
MikeyT Posted 22 October 2010 Posted 22 October 2010 Not good at all, really hope something can be done. Feel for their fans. Also what does that mean would happen to clubs that have already played them and earnt points from them, if the worst case scenario happens for them? Take it they would get deducted??
Mee Posted 22 October 2010 Author Posted 22 October 2010 Statement from the club website - Portsmouth Football Club is extremely disappointed to report that it has not yet managed to achieve the exit from Administration, despite the extensive efforts of the Football League, NewCo, the Administrators and their various legal advisors.The process has been extremely complicated and there has been a team of people working night and day to get the deal done. The most difficult aspect has been trying to achieve agreement with Alexandre Gaydamak after the remaining parties have agreed the deal and executed the necessary documents, namely the new owners, the Administrators, the Football League and the creditors. Unfortunately, despite the new owners fulfilling all the requirements of the Football League and the creditors, and agreeing and signing up to the required terms of the purchase of the club, at the 11th hour the goalposts have been moved by Mr Gaydamak and this has now made the deal impossible to complete. Put simply, despite being offered full payment for the secured part of his debt in accordance with the financial plan approved by the Football League, this morning Mr Gaydamak has demanded a very significant upfront cash payment in order to allow the deal to proceed by releasing his security. All this is in spite of his lawyers going to Paris this morning specifically for the purpose of witnessing his signature to the document agreed yesterday. It is neither in the interests of the club nor its unsecured creditors for such a ransom payment to be made, particularly where the payment is being demanded by one of the authors of the club’s current circumstances. In addition, and equally importantly, all of the business plans submitted and approved by the Football League would be fundamentally damaged by such a requirement placed on the club by Mr Gaydamak. We will provide further information as soon as possible. However, it appears likely that the club will now be closed down and liquidated by the Administrators as they are unable to support the continued trading of the club. We would like to thank the Football League in particular for their support and assistance through this difficult process. All other parties had managed to reach agreement. This has now been undermined by the self-interested actions of one individual. Mr Gaydamak has provided confirmation several times that terms were agreed. However, he has continually changed his position in an attempt to exploit the goodwill of the other parties to the transaction. By now doing this he has shown complete disregard for the supporters, the club and the City of Portsmouth. His earlier comments when the club went into Administration about doing everything possible to save the club’s future do not appear to reflect his current actions.
ousefox Posted 22 October 2010 Posted 22 October 2010 Terrible for the fans. On the bright side that massive defeat could be chalked off
Dylan Posted 22 October 2010 Posted 22 October 2010 What would be the situation if this did happen? Am i right in saying all their results would be cancelled or something?
JoeyB Posted 22 October 2010 Posted 22 October 2010 i feel for the fans, just hope that this doesn't happen to us in a few years. but hopefully sven can bag us Lawrence on loan or even sign him
Onions Posted 22 October 2010 Posted 22 October 2010 Ok maybe not really about Leicester, but it's still pretty big. Portsmouth could very well be closed down tonight which would mess the league up, and be a crying shame to all football fans. However, there is always an upside to a bad story. We would move up to 18th without kicking a ball as our goal difference would be 5 better than it is now. Seriously however, it would be a crying shame if true
Webbo Posted 22 October 2010 Posted 22 October 2010 I'm sure Pompey will survive in some form or another.
LCFC-ARAB Posted 22 October 2010 Posted 22 October 2010 It's going to take a big club to get fooked for things to change in this country i doubt pompey is big enough
Hammster Posted 22 October 2010 Posted 22 October 2010 from a purely pragmatic side of things what does this mean for amount of relegation places and promotion from league 1 and stuff? But this is a really depressing thing to have happened. Feel for the fans. Should serve as a warning to other clubs. All that history down the drain .
purpleronnie Posted 22 October 2010 Posted 22 October 2010 I just can't imagine a club of their size going bust, I'm hopefull they will be saved.
Dylan Posted 22 October 2010 Posted 22 October 2010 From Football League Website if anyone's interested: 12.2 Cessation of membership. If a Club (or Clubs) ceases to be a member of The League for any reason (including, without limitation, pursuant to Article 4 of the Articles of Association or by way of relegation or expulsion for disciplinary reasons): 12.2.1 during any Normal Playing Season, its playing record shall be expunged and the number of relegation places from the relevant Division for that Season shall be reduced by the number of Clubs ceasing to be members; So if this was to occur, our 6-1 defeat would be wiped out and there would only be 2 relegation spots, playing only 44 games this season.
Wymsey Posted 22 October 2010 Posted 22 October 2010 From Football League Website if anyone's interested: 12.2 Cessation of membership. If a Club (or Clubs) ceases to be a member of The League for any reason (including, without limitation, pursuant to Article 4 of the Articles of Association or by way of relegation or expulsion for disciplinary reasons): 12.2.1 during any Normal Playing Season, its playing record shall be expunged and the number of relegation places from the relevant Division for that Season shall be reduced by the number of Clubs ceasing to be members; So if this was to occur, our 6-1 defeat would be wiped out and there would only be 2 relegation spots, playing only 44 games this season. that means we get an extra 1 or 3 points?
Babylon Posted 22 October 2010 Posted 22 October 2010 It's scare tactics, trying to get SG to stop playing silly buggers.
Webbo Posted 22 October 2010 Posted 22 October 2010 that means we get an extra 1 or 3 points? We wouldn't get any points. Those teams that have beaten Pompey would lose those points. Our GD would improve though.
Dylan Posted 22 October 2010 Posted 22 October 2010 that means we get an extra 1 or 3 points? We dont get anything extra to my understanding. Our playing record will be edited to: P11 W3 D3 L5 F15 A19- so it will be as if we never played Portsmouth, and the same with every other club who have played them. Meaning it will be a 44 game season- a 23 team league.
Cropwellfox Posted 22 October 2010 Posted 22 October 2010 Pompey will survive this. If the club is liquidated i can't see how Gaydemack would be in a better position than if the exit from administration was managed as per the administrators plans. Sounds like he's screwing the administrator around and the administrator has gone shock and awe to ensure that the deal ultimately gets done. I hope so. Play up pompey.
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