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Portsmouth Fc 'likely To Close Down'

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http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/9120108.stm

Portsmouth say they are likely to fold as they are unable to continue trading after talks with former owner and key creditor Sacha Gaydamak broke down.

The club claim that Gaydamak demanded an upfront cash payment to facilate a possible deal to go through and allow them to exit administration.

"It appears likely that the club will now be closed down and liquidated by the administrators," said Pompey.

Earlier in October the club's latest plan to exit administration was vetoed.

That proposal was blocked by the Football League on the grounds that they wanted clarification on four issues before handing Pompey's golden share back.

The Championship club went into administration in February with debts of around £120m.

The first Premier League club to suffer that ignominy Pompey were then docked nine points and were subsequently relegated.

Gaydamak was Portsmouth's owner between 2006 and 2009 before selling the club to Sulaiman Al Fahim.

"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 Gaydamak," said Pompey in a statement.

Pompey administrator Andrew Andronikou added: "We've reached a serious impasse in our negotiations with Sacha Gaydamak and until we can reach agreement with him there is a significant risk that the club will have to be liquidated.

"We have agreed terms with every other party involved but there is now this new obstacle that must be cleared. We are trying to get Sacha Gaydamak to see sense."

I hope this bursts the football bubble.

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http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/9120108.stm

Portsmouth say they are likely to fold as they are unable to continue trading after talks with former owner and key creditor Sacha Gaydamak broke down.

The club claim that Gaydamak demanded an upfront cash payment to facilate a possible deal to go through and allow them to exit administration.

"It appears likely that the club will now be closed down and liquidated by the administrators," said Pompey.

Earlier in October the club's latest plan to exit administration was vetoed.

That proposal was blocked by the Football League on the grounds that they wanted clarification on four issues before handing Pompey's golden share back.

The Championship club went into administration in February with debts of around £120m.

Always a bit sceptical when people start saying they are likely to fold, as most of the times it's merely a neogating tactic to get what you want.

However many clubs have huge debts it seems unlikely that there won't be some casualities in the austerity period.

Still I'm sure some deal will be done at the last minute.

If they do go under won't that be a bit of an embarrasment to the league who seek assurances you can complete the season before giving you a licence?

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Overpaid prima donnas, my Dad used to watch Charlton Athletic in the 1930s and he said that the players used to go home on the same trams as the supporters...they were very well paid though, they used to earn twice as much as an office or factory worker.

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FA cup winners in 2008, administration since Feb, now facing likely liquidation. £119m in debt (according to the sky article), £35m of which is owed to you and me. Footie players like their money paid into Swiss bank accounts and forget to tell the taxman ...

Rednapp, who spent other peoples money on players to win the FA cup, walked away just before the club was cratered by its massive debts. I believe he is still facing similar charges relating to tax evasion.

Don't care much for the game myself, but for the sake of residents in the area, which is pretty depressed, I'd be happier if the youth of the locale could be allowed to keep their 90 mins a week of escapism.

Still, I hope they go easy on local elderly residents and try to remember it was the greedy players and egotistical managers who crushed their dreams, even as they worshipped them.

You'd think they'd have woken up before this came to its sorry conclusion. And yet even with this example, fans still welcome Rooney with his enhanced contract.

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Well, it just said on Channel 4 that Rooney's getting paid between £180k and £230k a week. It's not bursting just yet...

Man U is a major international club with hundreds of millions of gullible fools loyal fans globally.

Pompey? errrr... :lol:

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Overpaid prima donnas, my Dad used to watch Charlton Athletic in the 1930s and he said that the players used to go home on the same trams as the supporters...they were very well paid though, they used to earn twice as much as an office or factory worker.

but only for a quarter of the number of years.

tim

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Its not even that Rooney is playing half decent at the moment........

Expensive mistake if his scare with the high class whores ladies has affected his talent never to return.... I hardly think all has returned to sweetness and light in the Rooney household and his missus looks like she has some gob on her......... Just like all scouser women!!!

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FA cup winners in 2008, administration since Feb, now facing likely liquidation. £119m in debt (according to the sky article), £35m of which is owed to you and me. Footie players like their money paid into Swiss bank accounts and forget to tell the taxman ...

Rednapp, who spent other peoples money on players to win the FA cup, walked away just before the club was cratered by its massive debts. I believe he is still facing similar charges relating to tax evasion.

Don't care much for the game myself, but for the sake of residents in the area, which is pretty depressed, I'd be happier if the youth of the locale could be allowed to keep their 90 mins a week of escapism.

Still, I hope they go easy on local elderly residents and try to remember it was the greedy players and egotistical managers who crushed their dreams, even as they worshipped them.

You'd think they'd have woken up before this came to its sorry conclusion. And yet even with this example, fans still welcome Rooney with his enhanced contract.

Apparently, during the summer, a group of Portsmouth supports decided to work on plans in relation to starting a new Portsmouth from scratch (a la AFC Wimbledon) which was going to be started this season. I believe that they were looking to groundshare with Havant & Waterlooville. They should have plenty of time to get a new club running for the beginning of next season.

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Its not even that Rooney is playing half decent at the moment........

Maybe Fergie signed the contract "M Mouse".

Just a thoughgt ... and a FEVRENT PRAYER!

:D

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Man U is a major international club with hundreds of millions of gullible fools loyal fans globally

And debts of £717m and an operating loss of £121m. Man U is the London housing market of football.

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Perhaps somebody will build flats on it? :huh:

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Don't care much for the game myself, but for the sake of residents in the area, which is pretty depressed, I'd be happier if the youth of the locale could be allowed to keep their 90 mins a week of escapism.

Portsmouth has a massive dependence on benefits, debt management plans and mortgage support. Not going to end well.

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Portsmouth has a massive dependence on benefits, debt management plans and mortgage support. Not going to end well.

Just like everywhere else in the UK then.

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Are any of these 'super' clubs valued on earnings now, or is it all growth potential. I just can't see 'shirt sales' to third world countries continuing to provide this growth. Seen a program on Nigeria last week and everone was in a Arsenal shirt! It was like a local militia....

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All fair game, if everyone here wants to sit around and slag off Pompey, based on some (understandable, I guess,) envy of a few of the more greedy clubs and players.

Bit of a shame, though, for the dozens of kids from age 10 up, who are currently fighting for their dream of playing on the big stage, through the Pompey Foundation and Academy programmes. Kids who pitch up every week, without fail, to train with some very talented young coaches, who are paid very average wages to turn out and help some promising boys along the road of their dreams.

None of them is ar$ed about massive riches - they just want a chance to play the game they love at a higher level, and Portsmouth in particular have been investing a lot of time and energy in the grass-roots game across Hampshire.

Still, you lot have your fun here in cyber-land. Back in the real world, I've got to tell my eldest lad tomorrow morning that it looks like his Academy dreams are in tatters. :(

No doubt you'll all be delighted when he and all the other lads are back on a street corner somewhere, nicking your wallet. I'll be sure to tell my lad to make it a fat one, from someone who looks like they rent...

B

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All fair game, if everyone here wants to sit around and slag off Pompey, based on some (understandable, I guess,) envy of a few of the more greedy clubs and players.

Bit of a shame, though, for the dozens of kids from age 10 up, who are currently fighting for their dream of playing on the big stage, through the Pompey Foundation and Academy programmes. Kids who pitch up every week, without fail, to train with some very talented young coaches, who are paid very average wages to turn out and help some promising boys along the road of their dreams.

None of them is ar$ed about massive riches - they just want a chance to play the game they love at a higher level, and Portsmouth in particular have been investing a lot of time and energy in the grass-roots game across Hampshire.

Still, you lot have your fun here in cyber-land. Back in the real world, I've got to tell my eldest lad tomorrow morning that it looks like his Academy dreams are in tatters. :(

No doubt you'll all be delighted when he and all the other lads are back on a street corner somewhere, nicking your wallet. I'll be sure to tell my lad to make it a fat one, from someone who looks like they rent...

B

Sorry for your boy.

Sorry for decent and loyal supporters of a club with a long history, ruined by 'businessmen'.

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Sorry for your boy.

Sorry for decent and loyal supporters of a club with a long history, ruined by 'businessmen'.

Thanks Mancghirl - long time admirer of your other posts, FWIW.

Couldn't agree more; I'm not a long-standing Pompey fan, but I know a lot of my lads' team-mates' Dads are (wow, did I get all those apostrophes right?!) and they are completely gutted.

Nice people, with no "edge" and no "side," but all with their lifelong passion shafted by f**king w**kers with more money than sense.

Still, there's always the other Academies for my lad, unspoilt by money from dodgy sources;

Chelsea, Fulham, Arsenal, Palace..... Oh. Sh!t.......:o

B

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Southampton ?

Ouch! I presume that's the south coast equivalent of light the red touchpaper and retire to a safe distance?

On the general point though, I agree with buzzardo; it's a damn crime when outside interests screw over community instituions such as the local footbll club, and with the same kind of debt based financing that's led to the insanely unstable property market. I can remember watchng Pompey at Bramall lane back on one freezing november tuesday night in 1998 or thereabouts. A few hundred away fans with one of 'em ringing a bell and the rest singing the 'ey oh pompey, pomey eh oh' dirge, for about 90 mins, and then a 3 hours drive back home.

If the club folds then it won't be the end for football in Portsmouth; a new club will form, just like Leeds Utd did from 'Leeds City' (1912-19). That team was disbanded for "financial irregularities" in 1919. They reformed as the current Leeds United in 1920, and it also shows that dodgy footie deals are not exactly a new development either.

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  • 143 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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