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Simo86

Portsmouth back in administration..........shock!

By Simo86, in General Football and Sport

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Thracian

Thracian

Posted
Posted

Money has killed this sport. :( It's always sad to see any team go into admin.

I sympathise with both sentiments but It's not the money itself it's the way clubs spend it - with no realistic idea of how they're ever going to balance the books.

Quite apart from some dubious practices and shady people washing around within the game doing who knows what, so much in football is based on hope or intention rather than hard economic facts and realistic expectations.

Now, so many clubs seem to be in the brown stuff and it surprises no-one. Port Vale are another recently mentioned and I don't see Coventry's future looking anything but bleak either.

Football is different from other businesses in that a big percentage of fooball clubs are virtually certain to fail whatever, because success only relates to the top few clubs and one or two others who budget to build steadily.

The rest will all experience degrees.of failure depending on the club's spending/borrowing and for some, almost inevitably with the sums involved nowadays, that failure will be catastrophic. There needs to be much stronger and stricter regulation.

foxes2011

foxes2011

Posted
Posted

i cant see this ending well hope our club never gets into this situation again. hope portsmouth live on not long ago they won an fa cup and now they could go out of business :( .

  • 1 month later...
MrSpaM

MrSpaM

Posted
Posted

Don't know how viable it is, but I've just heard on the grapevine they could be going into liquidation on Monday. What would this do to our league standing if all of their results are removed?

Guest Bilo

Guest Bilo

Posted
Posted

If their results were to be expunged, the table would look something like this.

Southampton 80pts

Reading 79pts

------------------------

Birmingham 73pts

West Ham 70pts

Blackpool 66pts

Cardiff 61pts

----------------------

Leicester 60pts

Middlesbrough 59pts

Hull 58pts

Brighton 57pts

Derby 57pts

Burnley 56pts

Watford 55pts

Leeds 53pts

Crystal Palace 53pts

Ipswich 50pts

Notts Forest 46pts

Peterborough 45pts

Barnsley 44pts

Bristol City 41pts

Millwall 40pts

---------------------

Coventry 36pts

Doncaster 32pts

Portsmouth LIQUIDATED

AdamN

AdamN

Posted
Posted

Don't know how viable it is, but I've just heard on the grapevine they could be going into liquidation on Monday. What would this do to our league standing if all of their results are removed?

Forgive me if I've cocked it up, but by my reckoning:

----------------GD--Pts

4.--Birmingham--27--67

5.--Blackpool---16--66

6.--Cardiff-----9---61

7.--Leicester---12--60

8.--Boro---------2--59

9.--Hull--------2---58

10. Brighton----3---57

11. Derby--------8--57

Beaten by Bilo, but you get the amazing addition of goal differences there too.

Stevosevic

Stevosevic

Posted
Posted

http://www.bbc.co.uk/sport/0/football/17679909

Portsmouth administrators' report reveals £58m debt

A report published by administrators PKF has revealed that Portsmouth owe £58m, £20m more than when the club came out of administration in October 2010.

Of that, £38m is owed for the purchase of the club from the previous administrators, UHY Hacker Young.

A further £10.5m investment made by Vladimir Antonov's Convers Sports Initiatives (CSI) remains outstanding.

Players are due £3.5m in wages and bonuses for the last two seasons, while £2.3m is owed to Revenue and Customs.

Additionaly, £3.7m is owed for general trade.

The report also shows that they have so far spent 1,652 hours dealing with the administration, at a cost of £525,000, which they have not yet been paid.

Trevor Birch, chief administrator at PKF, stated earlier on Wednesday that he had received no firm offers to buy the club, and that liquidation was still a real possibility.

Stevosevic

Stevosevic

Posted
Posted

F**king hell why liquidation now I guess because of the inevitability of relegation to league one they are pushing for this to happen?

Don't think it is out choice. I am assuming if they are liquidated, a new club would have to be formed outside of the football league? :unsure:

Raw Dykes

Raw Dykes

Posted
Posted

Serious question, how would it affect promotions and relegations with League 1?

Or am i being stupid and it's actually really simple.

I guess an extra club would have to be promoted from League 2 to make the numbers up, and then 1 extra club from the Conference would have to be promoted to League 2, and so on.

Corky

Corky

Posted
Posted

Although that table looks good for us, I don't want it to happen.

Those clubs have earned their points through beating Portsmouth and to have them taken away would be unfair.

CKB

CKB

Posted
Posted

Someone will save Pompey, while it would benefit us for them going outta business i wouldn't want that as Corky says it would be unfair and no matter who it is (Derby, Forest, Cov) i wouldn't wanna see a club going under because who's to say oneday it's not us in the total shit?

  • 3 months later...
  • 2 weeks later...
rico

rico

Posted
Posted

I suppose this begs the question.

What would you do. Look after pompey or look after your family?.

Ben Haim should do the decent thing here,for the sake of their fans

Matt

Matt

Posted
Posted

3 weeks away from going out of business

http://www1.skysport...Pompey-on-brink

It is greed on Tel Ben Haim's part, he doesn't need that much money and could live very comfortably on much less than that a week, however it is stupidity (Which every club up and down the country is guilty of - including Leicester) on Portsmouth's part for offering, accepting and giving him that much in the first place.

Don't get me wrong players are to blame for demanding such wages but it's the club that are really to blame for getting wages this high and in such a mess - Obviously you have to compete against other clubs and if you say no to such demanding wages you will miss out of players and rivals will sign them, e.t.c, however there needs to be a wages cap in place - Something you could point the finger at the F.A for not implying.

rico

rico

Posted
Posted

to offer him that contract just weeks after coming out of administration was madness

davieG

davieG

Posted
Posted

Plenty of Leicester fans seemed to be happy that we take the same risks.

Matt

Matt

Posted
Posted

Plenty of Leicester fans seemed to be happy that we take the same risks.

Not really (Personally), however like I say to compete you need to take the risks because if you say no to such demands the play will end up going to another rival club and realistically you won't be able to compete.

So the only thing that will stop players demanding such wages is by either a) All clubs agree to put a cap on wages (If you just left it down to the clubs though it'll never happen) or b) The FA/FL putting a cap on wages.

I think football really is behind the times with 2 major things - Technology (Although it looks like football is slowly coming round to using it) and Wage Caps (I understand they are used in Rugby).

jonthefox

jonthefox

Posted
Posted

Ben Haim should do the decent thing here,for the sake of their fans

Yes but will he?. Lets say it was you playing for pompey.

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