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http://www.independent.co.uk/sport/football/premier-league/premier-league-ready-to-take-control-as-penniless-pompey-crash-1796230.html

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8284936.stm

I feel for their fans, they had a cracking side building under Redknapp, they it seems to have been completely dismantled in the space of 12 months, on the football side and the business side

I don't really feel for them. They've been run badly and spent well above their means and lived the dream. They won the FA cup and played in Europe now the wheels have come of and they will probably end up in the championship which isn't a disaster for a club of Portsmouth's size.

Believe me Portsmouth are a HUGE club.

They have a massive catchment area and loyal, supportive fans.

The ridiculous delays in building a new stadium are what are to blame, they could get 40,000 gates easily given the right facilities but Fratton Park is a complete dump and should have blown up 15 years ago.

RIP Portsmouth FC.

Seems like nobody learned from the Leeds debacle. A great shame this.

Good ridents! SFC4LIFE

I said for the fans, not for the people who have/do run the club

gg pompey and gg that tool with the bell

lol

Pay up Pompey, Pompey pay up.

nice.


I went to see pompey knock man u out of the fa cup at old trafford a couple of years ago. Sat down with my cup of coffe chatting away when 5 mins in i nearly fall off my chair when bell boy starts ringing away from 2 seats behind me, enough with the bell mate.

Pompey fans are great and incredibly devoted and loyal, shame to see them fall away like this.The bloke in charge seems proper dodgy and skint.

This is a shame and they are certainly a big club especially in terms of fanbase,they are one of the best supported clubs in the country,imo.Pretty much printing money that they're relegated this season but good luck to them in the future

'Tis a shame for the fans.  Except for John Anthony Portsmouth Football Club Westwood.

my 3/1 them going down looking good?

There a tiny club imo, 17k gates this season, abs. FUK their fans.

i had 6/1, unfortunately it got voided, man up bet click and take the hit when you make a rick i say.

Just had a look on wikipedia and there full capacity is 20k which has also been there average attendance for the last 6 years,there certainly not a tiny club,imo

I meant i don't feel for the fans. Hardly a bad run is it? In less than 10 years they've gone from near financial ruin and surviving in the championship on the last day to 7 years in the prem, an FA Cup win and a European season. Now they'll go back to where they were before they started spending more than they could afford. Still got a chairman that reckons he can put £50mil in and build a new stadium.

I'm always impressed with the atmosphere created at Fratton Park, would be right up there for noisiest ground in the prem.

This.

Really hope Pompey get their shit together and survive. One of the best away matches in the calender for atmosphere.

nice knowing you pompey, you had a good run...

Bigger than Bolton, Fulham, Wigan, Hull, Burnley, Stoke for sure.

About the same size as Birmingham, Wolves and West Ham I reckon.

lol as big as west ham

financial irregularity, maybe they should be docked 15 points? 

Dont pay the players ... they are winning 1-0

Agree with this. Potentially a very large club they've just been run so badly.

Seems like they are saved !!

i didnt renew my season ticket this year due to finances but you cant beat Fratton park for a game its a shit hole but the atmos there is great we sing for 90 mins win lose or draw, such a shame that the club has died purely for financial reasons if we had the stadium we were promised years ago we would have the money to be up the top still. And John with the bell and his mate with the drum are great , abit annoying sometimes but they push the crowd to support the team regardless and i have never seen either of the sober.

The geezer with the bell needs to DIAGF.

Soon.

i think portsmouth will survive anyone know the price?

Corals online sportsbook they are 6/5

 sigh....never a dull moment

http://www.guardian.co.uk/football/2009/oct/22/peter-storrie-portsmouth

If Harry aint guilty, and Milan isnt ... It must fall on Peter Storrie's head.

More doom and gloom for Pompey

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8469950.stm

not looking good.

These clubs are far worse and in deeper trouble than Leeds, just no one came to save us :( There really needs to be some laws in place where clubs can only spend so much % of their income on wages.

Really nice of you to say!!!  How would you feel if it was your club??? i know if it was Bradford i would be gutted been a  season ticket holder for 10 years, Saturdays would not feel the same anymore

GL hope they find the money

Portsmouth have made a profit of 50m pounds in the last 18 months from player sales, where has all the money gone

Wages.

I heard someone talking about this the other day ... saying gate receipts and other income only make up 70% of the wage bill.

doesnt take long to build up a massive debt when you have the most basic of business models wrong.

On the subject of ridiculous debts - http://news.bbc.co.uk/1/hi/business/8470595.stm

In the year to June 2009 Man Utd spent £68m purely on the interest of their debts.

They'll be fine as long as they can sell Ronaldo to Real Madrid every year.

Not paid the players again ... gonna end in tears very very soon

You know many pompey fans kev?  Who do they blame?

Sky Sports news: Players not paid for the 4th time.

LOL after selling the club to the only skint Arabs on the planet, Pompey have gone to Hong Kong for their FOURTH owner of the season ... total com.

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8497491.stm

Apologies for the BBC link obv... !

Even by your lofty standards of bokking Kev, what you have done to pompey since moving down there is astonishing  ;tightend; ;tightend;

I hope they keep their current form for their upcoming FA cup tie.

Kev have you everr considered moving to Manchester?

i dont care about form wages debts owners

as long as they get hammered in the FA cup by the mighty saints i will be happy

Totally

Football is living in a false world, the current finances thoughout are untenable

What would happen if Pompey got wound up?

How would the league table look if all Pompey games became void

I've heard it said that Arsenal would have to lose the six points that we won from them as all games will be voided.

This is what happened when Aldershot went bust in the early 90's. All results against them became void.

Liverpool have played them once and lost

Maybe Arsenal should offer them an interest free loan

on bbc its saying talks have broken down, pls pls send them out of business!

You should work on not being so bitter. I wouldn't want to see Ipswich go out of business never mind some other football clubs.

If they do go it is always the fans that will suffer and I for one would never want that to happen to my football club.

wow. why? what have they ever done to you?!

For the Portsmouth fans, no one else, I hope they make it though it looks like they might not.

There, but for the grace of whatever, go a lot of clubs.

I really think the Premier League should take a lot of the blame for what has gone on at Portsmouth

There really needs to be an enquiry into where all the money has gone

I wouldn't be surprised to see the premier league keep Pompey running to the end of the season and then wash their hands of them. Not very good for their global image clubs going bust.

I am not bitter, just think Pompey have broke so many rules and regulations, changed ownership just to keep off from paying the debts, not paid the players on time month after month. Aldershot didn't get this much time and effort into them surviving. Null and void all their results this season and send them away :) If they are allowed to get away with this it sends out wrong message.

Pompey fans have not been backing their team so much this season eh? not selling out their tiny ground.

The sooner the rules are in place to not allow clubs to be in debt the better.

This is actually pretty funny coming from a Leeds fan, whose team broke just about every financial rule they could,

and paid for it, -15 and into admin..

Not harshly enough imo.

I would be more concerned about you going down then what happened 3 years ago to Leeds. We got docked a total of 25 points and have Bates at the helm, the latter being more than enough punishment!

This

There is a difficult balancing act for the Premier League here. Whilst they don't want to see Portsmouth go bust, if they do something to save them then West Ham may think 'we don't need to bust a gut to get things shipshape as the Prem League will save us'. Other clubs will follow.

Whilst it is embarrassing for the Premier League, I think they need to let Portsmouth die simply to draw a line in the sand to show the other clubs there will be no bailouts.

Sky News are currently reporting that the taxman has rejected a payment plan from Portsmouth and are pressing for a winding-up - they could be gone in under half an hour.

If the taxman gets the wind-up order, how do they re-coup what they are owed?

News down here says that the most likely outcome is a 28 day adjournment... however there is mass amazement that the club have gone to the tax man with an offer of a lump of cash and the rest in instalments, but have no plan which says what the repayment schedule will be.

Administration is going to be the end result imo, if not today then certainly be the end of the month.

FFS Kev get round there and write em a cheque.

LOL ... Peter Storrie has got all the money salted away, dont worry about that.


It is a scandal really, the blame is being laid at Storries door down here tbh ... selling the club 3 times to skint members is just fucking criminal ... and Storrie will have made a good few quid brokering shitty deals.

The problem with administration is that there is not the prospect of the club improving financially in the immediate future. What an administrator does with a business is cut costs/sell assets to improve the finances. The club's main assets are the players, but none of them can be sold before the transfer window reopens.

Portsmouth have no cash and aren't getting any anytime soon.

WTF this is coming from a leeds fan who has seen it all 1st hand

there is and was a huge difference in whats happening/happened at both clubs. Leeds went into admin got deducted to points fair and square, Bates bought it back again and tried to fool a few people into paying them 1p in the pound etc and we got -15 again.

Pompey have been juggling and cheating the fianances for years now, trying to change ownership a number of times to fend off admin. Totally different.

Is it a crime to not be bothered if they go under? just becasue its a larger club than Aldershot? no one cheated or let them survive.

Yet again lol You have Ken Bates in charge the guy is the bigges con man ever. He lives in Monaco so he can fiddle the uk tax

Remember when it was obvious Leeds were going out of the Championship? Bates tried to go into admin at half time of the last game of the season to avoid the deduction the next season.

Premiership table discussion on Talk Sport is fairly interesting, what will they do with the points from playing Pompy if they do go?

BTW this is not about Leeds :) its about Pompey. I got somehow attacked for thinking Pompey deserve it. Leeds went into admin and paid for it, why cant Pompey do the same thing and accept relegation?

Yes a few other clubs have tried in the last games. Wrexham being one of the last ones to do this? I blame Tightends team were they not the original club who caused alot of these problems by deliberately going into admin and coming right out of it to wipe their debts? Ok for them then.

What Leicester did was wrong. Clueless idiots ran the club then, Mandaric now. FML

but Matt I struggle to think that the vast majority of people involved in Pompey..staff, supporters etc..deserve it.

I think, with all due respect, that you are being extremely one-eyed here. I am genuinely shocked that a football fan wishes another club, any club, to go under. 

I think it's safe to say that Leeds are the most disliked club by supporters of other teams.

As much as I hate Leeds I wouldn't want them to go out of business, too many people have invested too much emotionally for that to be funny.

My late father was a lifelong Pompey supporter, as is my brother.

The club has amazing fans and the way the owners (and some of the players) from Mandarich onwards have abused this club is little short of criminal.

The government must take some of the blame too for repeatedly denying the club the opportunity of building a new stadium.

I hope they survive, but even if they don't there will be football in Portsmouth and I wish them well.

fair enough, maybe they should go into admin and try rebuild over a given period of time. This year they cant stay up so why not just accept it? the fans will enjoy winning games and the excitment in the championship. Sometimes you lose sight off the average Jo Bloggs on 20k working for the club.

Portsmouth are a massively badly run business with costs outstripping earnings.

Businesses like that go bust every day - being a football club shouldn't make any difference. It should in fact be less bad than other businesses as a far higher proportion of the employees are wealthy and won't struggle to pay next month's mortgages as a result of losing their jobs.

In the past I've worked for a company where a big meeting was called one afternoon, the directors stood in front of us with people we didn't recognise and said 'we're bust, these guys are the liquidators, your jobs are gone and you won't get paid for the last three weeks work'.

None of us had been earning £70,000 a week for the past two years.

If Portsmouth disappearing is the price to pay for shocking other clubs to stop spending money they don't have to try and get to 10th in the Premier League then it's a price worth paying.

ffs, you dont get the option to go into administration when you owe the VAT man.....they will be calling the shots.

7 day stay of execution. either come up with the cash, or have a definite buyout in motion.

The winding up order has been adjourned for a week, which means Portsmouth have the chance that their very last game will be getting knocked out of the FA Cup by Southampton.

Cardiff and Southend were also facing winding-up hearings today, and their cases have been adjourned for a month, which shows how much more desperate Portsmouth's case is.

 11.5 million in unpaid taxes.!!

FFS... I had a HMRC guy come around last year and ask for a cheque, as we a little bit late paying a couple of grand PAYE .

Should have told him to get on his bike to Portsmouth. :D

I cba to look up the detail, but isn't the normal model to have a holding company own the club and deal with the finances, so that if it goes under the club gets sold as an asset and carries on?

In which case, they might be damaged, they might be badly damaged, but so what?
(in the general footballing sense - obv. different for the employees and fans themselves)

Court registrar Christine Derrett said she feared the company would continue to trade and build up more debts that would not be paid.

"I am very concerned about the financial status of this company," she said. "It seems to me there's a very real risk that this company is undoubtedly trading while it is insolvent.

"I'm obviously conscious that, by making a winding-up order, it would have very severe consequences not only for the company as a business but for the supporters themselves, but that's not a consideration that I strictly take into account."

Gregory Mitchell QC, who represented HMRC, said: "It's quite clear, beyond any doubt at all, that this company is insolvent.

"They have failed to provide any evidence at all as to their solvency. There are many debts and they are unpaid."

not looking good is it.

no idea if it's the norm but it is def the case at some clubs. was it southampton who tried to put the holding company into admin rather than the club to avoid a points deduction?

Spurs will be a bit sick spending 10 mill on Kaboul when they could have waited a couple of weeks and got him for nothing.

what would happen if they go tits up completely ?

would the players contracts just be null and void and they would become free agents ?

It's a joke to be honest. The debt to HMRC will just grow the longer they stay in business. A rough guess of their weekly wage bill - 300k? That's £1.2mil a month that they have found for the last 3/4 months but not managed to make a payment to HMRC. That shouldn't be allowed to continue. If the players want to play unpaid for the rest of the season they are welcome to but they should be forced to spend the money they do have coming in on repaying debt.
If they go bust another team will start up and adopt Pompey's history and it's probably what they deserve. You can keep the FA cup from a couple of years ago but as your club was run borrowing and borrowing you can start again at the bottom off non-league.
You feel for the some of the staff working there but i imagine some are over paid and don't do their job properly.
I'm with Acidmouse i'm afraid. Get rid of them. I don't want to see them in the Championship debt free.

99% sure that's what happened when Aldershot were wound up.

Although I doubt those players had much value and although Pompey are bad, most of the players would be worth something.

We'll take Hreidersson if he's available!

Didn't sp*rs sell him to pompey in the first place ?

They probably took him back to eradicate the debt that was inevitably still owing rather than be a creditor.

at a much lower level it looks like chester could be out of business soon after being relegated from league 2 last season

the players refused to get on the bus last night for their away game against forest green as they haven't been paid for 3 months and the police won't let them play their next home game against wrexham as they haven't paid policing costs from previous games

Just been suspended from the BSQ Premier for a week, so that's next Weds game off as well.

Pretty much the end is the fans mood. Expect an FC United/AFC Wimbledon type team soon, I reckon.

I found it very frustrating that so many people that I spoke to when Leeds were in trouble were pleased and stated that we 'got what we deserved', I've had a season ticket for most of my life and season tickets don't come cheap, I have to give up that money which could be used on all sorts of other things and lost a lot of respect for a lot of people that said that 'we' deserved it.  The fans never asked for us to buy players we didn't need and pay them more money than they asked for, we didn't ask for Ridsdale to 'live the dream', we are still here after he has gone and we will be still here when bates goes.

I hope that Pompey don't go under but find it more than annoying that people who were happy to see Leeds get what they deserved don't think the same rules should apply to Pompey. 

We got 15 points deducted for financial irregularities, would anybody disagree that this is whats happening at Pompey?

Today Pompey are begging to be allowed to sell players outside the transfer window ... gets bleaker.

cant see this happening, because the Prem would also have to allow other clubs to buy. And besides, fire sales only attract fire sale prices!

there's a warrant out on their chairman as well isn't there? sure I saw that somewhere

window is still open for scandinavian countries, usa, canada. probs also south america and australia. they can sell to them freely

Fuking joke, they should go into admin like the rest of us!

they need some "Fergie Time".

Everyone keeps talking about league points being taken off clubs if they fold

Anyone know what will happen if they get kicked out of the FA cup

Whoever they face will get a w/o (walkover) I think.

the last club thrown out of the cup were bury (I think) and they were replaced by chester who they'd beaten in the last round. that was for fielding an ineligible player though so chester were the wronged party, that wouldn't apply with pompey who were perfectly legal in every round they've played so you'd think it'd have to be a walk for whoever they were due to play

I'd be interested in what would happen if they reached the final though and then went out of business. I can't see that the fa would just call off the final and give the cup to the other team

I know a bye is the right outcome but it will starve Birmingham of some decent gate receipts, although perhaps the guaranteed entry to the next round outweighs this

http://www.arabianbusiness.com/blogs/images/2010/02/alfahim-letter.pdf

Friday ...

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8527495.stm

cork city wound up today after the fai threw them out of the premier division last  night. probs the biggest club in ireland with regular european footy and they can't stay afloat. more to follow no doubt

sad day for footy fans, with Chester being kicked out and Pompey going into admin

one of the best days of my life gg pompey gfo dieeeeee

why? it's probs ensured their survival hasn't it? the points deduction is completely irrelevant and now they're unkikely to go out of business

probs the best thing that could've happened to them

"Portsmouth administrator Andrew Andronikou pledges to save the club"


Is putting a Greek in charge of your finances not rather insane in the current climate?  ;marks;

Administration for a business like a football club.

They have spent millions on salaries and go busto. Now lots of local service providers will go bust behind them and pompey will be turned around having written off millions in debt and just carry on.

Its a disgrace

I am actually glad that clubs are going into administration, in fact I wouldnt be too unhappy if some went bust. The game from top to bottom is out of control, both cash flow wise and player wise.

It still needs saving - administration just gives them more time

The only silver cloud in this whole shit sorry mess is that Peter Storrie can GTFO... what an obnoxious twat he is.

As bad as this is going to sound, Portsmouth going into administration is going to mean absolutely fk all. Nobody's gonna learn from it.

I seriously believe it is going to take one of Man Utd, Liverpool or Chelsea to go tits up before the "football world" realises that they can't survive the way it is run now.

its a good point tho Sharp, going into admin now when they were looking certs to relegated anyway means they can start next season on equal points with the rest of that div

They still need to get a fair few mil to HMRC and if they're not out of it in the summer they could start on -15

I heard that if they get relegated but are more than 9 points off safety (ie the points deduction wasn't a punishment) then they would get a points deduction next season anyway - not seen it written anywhere, is this true?

doesn't sound right to me. the premier league and the football league are seperate entities surely. can't see how you can get a points deduction in one for something you did in the other

yeah its not true. they will get docted points again thogh if they have not agreed the amounts to pay there creditors when they are in championship.

I wondered why noone brought up that that's what happened to Southampton last season, no? Is that just because the EPL is different from the football league?

southampton were relegated withing the football league so could be penalised from the season before. I can't remember if that's what happened but it sounds right

Whats happening, are they gone. Cant find any links for news except peoples tweets

Sacha Gaydamak Puts Future Of Portsmouth In Jeopardy
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