[cite]Posted By: I-SAW-POUSO-PLAY[/cite]seriously harry redknapp cripples every club he goes to!
I detest the man but any organisation that is thick enough to allow a single employee a free enough reign to financially destroy it, probably needs to die. Any major expenditure, by any company, should be scruitinised by a few people. If Redknapp has been managed by idiots that have failed to do that, then I can't have a lot of sympathy for them.
Portsmouth are screwed anyway, even if they don't go into administration.
They apparently need to find £7.5m in the next 3 weeks to avoid the winding up order. Only way to do that is to sell players. They've got a threadbare squad as it is and can't buy players to replace them, so will almost certainly go down anyway. Then with huge debts, a small squad, no Sky money, and a dump of a ground, they're hardly likely to come back up.
Unless someone bails them out, i wouldn't be at all surprised to see them in league one fairly soon.
Riddle me this: given there's not a points penalty in the Premiership for going into administration, if Portsmouth do end up looking as if they're going to go down, but slip into admin first, will they face any points penalty when they start up in the CCC. I'd think that according to the letter of the law, the answer would be no.
[cite]Posted By: McLovin[/cite]Riddle me this: given there's not a points penalty in the Premiership for going into administration, if Portsmouth do end up looking as if they're going to go down, but slip into admin first, will they face any points penalty when they start up in the CCC. I'd think that according to the letter of the law, the answer would be no.
I'm sure i read the Premiership points penalty is apparently -9
Sky news are reporting that Sol Cambell is suing Portsmouth for two million quid for unpaid bonus payments and image rights. I thought the "image rights" bit was a bit ironic.
[quote][cite]Posted By: Miserableold-ish git[/cite][quote][cite]Posted By: I-SAW-POUSO-PLAY[/cite]seriously harry redknapp cripples every club he goes to![/quote]
Never thought of that before, but, Bournemouth, West Ham, Portsmouth & Southampton: The thing they all have in common.............[/quote]
As I've probably made more than clear on here I have no time whatsoever for Harry Redknapp.
To be fair though it wasn't him who signed the likes of Lucas Neill, Callum Davenport, Nigel Quashie, Kieran Dyer, Boa Morte, Freddie Ljunberg, Faubert, Richard Wright etc etc which have all, in their own way, contributed to the Hammers current financial situation. In fact, not even taking account any signing on fee, from what I can gather that lot would have cost them around £20 million per annum.
I can see why some don't like Redknapp but at Pompey he signed Glen Johnson, Muntari and Diarra for a total of 16m. Pompey sold them on for a total of 53m. And he won them an FA Cup and got them into Europe. Is Redknapp really at fault here?
[quote][cite]Posted By: Chris_from_Sidcup[/cite]I can see why some don't like Redknapp but at Pompey he signed Glen Johnson, Muntari and Diarra for a total of 16m. Pompey sold them on for a total of 53m. And he won them an FA Cup and got them into Europe. Is Redknapp really at fault here?[/quote]
Rumour has it that the Chief Exec is on a salary £1.2m per annum. Don't know if he's entitled to any other "bonus" payments though.
[cite]Posted By: I-SAW-POUSO-PLAY[/cite]seriously harry redknapp cripples every club he goes to!
Never thought of that before, but,
Bournemouth, West Ham, Portsmouth & Southampton:
The thing they all have in common.............
As I've probably made more than clear on here I have no time whatsoever for Harry Redknapp.
To be fair though it wasn't him who signed the likes of Lucas Neill, Callum Davenport, Nigel Quashie, Kieran Dyer, Boa Morte, Freddie Ljunberg, Faubert, Richard Wright etc etc which have all, in their own way, contributed to the Hammers current financial situation. In fact, not even taking account any signing on fee, from what I can gather that lot would have cost them around £20 million per annum.
Exactly. Sullivan said they signed Ljungberg who was on 30k a week and gave him 80k a week. Lucas Neill chose West Ham over Liverpool because they paid him 70k a week. Totally ridiculous and the sooner the rule is brought in that wages must not exceed a certain % of turnover the better. I read the other day that Blackburns wages are equal to 90% of their turnover. They coped this year because they sold Santa Cruz but how long can they last?
[cite]Posted By: Chris_from_Sidcup[/cite]I can see why some don't like Redknapp but at Pompey he signed Glen Johnson, Muntari and Diarra for a total of 16m. Pompey sold them on for a total of 53m. And he won them an FA Cup and got them into Europe. Is Redknapp really at fault here?
Rumour has it that the Chief Exec is on a salary £1.2m per annum. Don't know if he's entitled to any other "bonus" payments though.
I really do not get footballers, I know Sol is entitled to his money but there are people at that club who have not been paid all they are owed that need their money to keep a roof over their heads. He should wait to make his demands whilst those that really need it are sorted.
[cite]Posted By: cfgs[/cite]I really do not get footballers, I know Sol is entitled to his money but there are people at that club who have not been paid all they are owed that need their money to keep a roof over their heads. He should wait to make his demands whilst those that really need it are sorted.
Perhaps he didn't get a big enough pay off for his one game at Notts County.
Posted By: cfgsI really do not get footballers, I know Sol is entitled to his money but there are people at that club who have not been paid all they are owed that need their money to keep a roof over their heads. He should wait to make his demands whilst those that really need it are sorted.
Perhaps he didn't get a big enough pay off for his one game at Notts County.
It's 1.7 million apparently. He'll lose half of that to tax so it's about a weeks wages as far as Mr Campbell is concerned.
[cite]Posted By: Addick Addict[/cite]
Rumour has it that the Chief Exec is on a salary £1.2m per annum. Don't know if he's entitled to any other "bonus" payments though.
[cite]Posted By: Swisdom[/cite]Pompey appear to be royally screwed.
How many years did the Charlton board go on about a more even distribution of PL television money........they warned this could happen
Maybe the premier league will pay attention to whats going on outside the big 4 for a couple of weeks now!
I seriously doubt it
It would, however, be hilarious if 1 or 2 absurdly geared "big 4" clubs failed to qualify for the Champions League. I wonder if that would change a few minds about the distribution of the Sky money?
[cite]Posted By: cfgs[/cite]I really do not get footballers, I know Sol is entitled to his money but there are people at that club who have not been paid all they are owed that need their money to keep a roof over their heads. He should wait to make his demands whilst those that really need it are sorted.
Maybe he has, but a series of letters and polite requests have likely been ignored and so he's taking legal action.
Besides that, what's his legal position if Pompey do go either bust/into receivership? Presumably as acreditor he'll get a tiny percentage of the £1.7m and lose the rest. Given the choice between that and sueing now he's doing the right thing.
[cite]Posted By: Henry Irving[/cite]Mick Dennis (I think) on SSN this AM was saying that Pompey would take a 9 point penalty for going into Admin, if that happened.
Is that the rule now. Thought it was only Football League?
I believe so. 9 points because there are fewer clubs.
Hate to say this, but I think Pompey are being hung out to dry by the Premier League. Regardless of how badly they are run, who spent what, how much is owed it's the fans that we all should feel sorry for. Never in a million years would they have imagined the current situation they find themselves in the morning after they won the cup.
Cue moaning about "why can't the CAFC board find a new owner, how hard can it be, Portsmouth found four, blah, blah, blah, wibble, wibble"
"Hong Kong-based businessman Balram Chainrai has bought 90% of the club's shares from previous owner Ali Al Faraj after invoking a repayment clause.
BBC sports news correspondent Gordon Farquhar said: "He is understood not to be interested in a long-term ownership, just averting the current crisis."
Chainrai's company Portpin may sell the club before the end of the season.
A Pompey spokesman said: "Portpin have exercised a clause in their contractual agreement to take a controlling interest. They are taking control on a temporary basis to allow new owners to be found.
"Portpin's aim is to come in and stabilise the club, sort out the business with the winding-up order from HMRC and sell it on to new owners.
"New directors will be appointed to the board and Peter Storrie will remain as chief executive and will be running the club."
Farquhar added on BBC Radio 5 live: "Chainrai has invoked a clause in a loan contract he struck with the club's third owner this year, Ali Al Faraj, giving him the right to take over 90% of the shares should they default on repayments to him.
"He recently loaned the club £15m to £20m to help get them through their current financial crisis, which still isn't resolved and now the loans have not been repaid he's the new owner of the club on that basis.
That Fit & Proper Persons test must be well difficult to pass!
I look at Pompey and think of Varneys comment at the Bromley supporters club meeting about a bloke from Essex waking up to find £5 in his pocket and trying to buy Charlton...replace that with "bloke from the Middle East" and you have Pompey.
Talks between Pompey and HMRC have broken down and the club face a winding up order later today. Could be a momentus moment.
Who goes first? Portsmouth or Greece?
Redknapp has a lot to answer for. He brought in the players on ridiculous wages and then bailed when the ship started sinking. People slag off Wenger and to some extent slagged off Curbs. They were both fiscally responsible managers (well at least Curbs was at Charlton) who have got the best out of what they have. Do you think the directors at Arsenal are pissed off. No perennial top 4 and 10 years of champions league money. The have 'secured' debt against the stadium and out of the top 4 are probably more financially viable (after Roman leaves Chelski or is knocked off by Russian mafia). If we had given Curbs the 12 million we gave Dowie who knows where we would be now certainly not league one I bet.
Don't forget Redknapp just paid Pompey well over the odds for Kaboul AGAIN so maybe he's trying to help out still!
If pompey go into administration it's their own fault and they deserve the punishment. I very much doubt they will be back in the prem for a long long time
[cite]Posted By: Swisdom[/cite]If pompey go into administration it's their own fault and they deserve the punishment. I very much doubt they will be back in the prem for a long long time
that goes for palace and whoever else goes into administration .......badly run clubs have to be accountable for their mismanagement
[cite]Posted By: ct_addick[/cite]Redknapp has a lot to answer for. He brought in the players on ridiculous wages and then bailed when the ship started sinking.
Sorry but i disagree with this. He took over Pompey when they were in big danger of going down, saved them, led them to their highest league placing in about 50-60 years, won them a trophy and got them into Europe.
I said earlier on this very thread that he signed Glen Johnson, Muntari and Diarra for a total of 16m. Pompey sold them on for a total of 53m. How is that having a lot to answer for?
Added to that when he left for Spurs they got about 5m in compensation for him.
Comments
Never thought of that before, but,
Bournemouth, West Ham, Portsmouth & Southampton:
The thing they all have in common.............
They apparently need to find £7.5m in the next 3 weeks to avoid the winding up order. Only way to do that is to sell players. They've got a threadbare squad as it is and can't buy players to replace them, so will almost certainly go down anyway. Then with huge debts, a small squad, no Sky money, and a dump of a ground, they're hardly likely to come back up.
Unless someone bails them out, i wouldn't be at all surprised to see them in league one fairly soon.
I'm sure i read the Premiership points penalty is apparently -9
Never thought of that before, but,
Bournemouth, West Ham, Portsmouth & Southampton:
The thing they all have in common.............[/quote]
As I've probably made more than clear on here I have no time whatsoever for Harry Redknapp.
To be fair though it wasn't him who signed the likes of Lucas Neill, Callum Davenport, Nigel Quashie, Kieran Dyer, Boa Morte, Freddie Ljunberg, Faubert, Richard Wright etc etc which have all, in their own way, contributed to the Hammers current financial situation. In fact, not even taking account any signing on fee, from what I can gather that lot would have cost them around £20 million per annum.
How many years did the Charlton board go on about a more even distribution of PL television money........they warned this could happen
Maybe the premier league will pay attention to whats going on outside the big 4 for a couple of weeks now!
Rumour has it that the Chief Exec is on a salary £1.2m per annum. Don't know if he's entitled to any other "bonus" payments though.
Exactly. Sullivan said they signed Ljungberg who was on 30k a week and gave him 80k a week. Lucas Neill chose West Ham over Liverpool because they paid him 70k a week. Totally ridiculous and the sooner the rule is brought in that wages must not exceed a certain % of turnover the better. I read the other day that Blackburns wages are equal to 90% of their turnover. They coped this year because they sold Santa Cruz but how long can they last?
And as if by magic Harry's mate hits the news today
Perhaps he didn't get a big enough pay off for his one game at Notts County.
I seriously doubt it
It would, however, be hilarious if 1 or 2 absurdly geared "big 4" clubs failed to qualify for the Champions League. I wonder if that would change a few minds about the distribution of the Sky money?
Maybe he has, but a series of letters and polite requests have likely been ignored and so he's taking legal action.
Besides that, what's his legal position if Pompey do go either bust/into receivership? Presumably as acreditor he'll get a tiny percentage of the £1.7m and lose the rest. Given the choice between that and sueing now he's doing the right thing.
I believe so. 9 points because there are fewer clubs.
How long will this one last for
Cue moaning about "why can't the CAFC board find a new owner, how hard can it be, Portsmouth found four, blah, blah, blah, wibble, wibble"
"Hong Kong-based businessman Balram Chainrai has bought 90% of the club's shares from previous owner Ali Al Faraj after invoking a repayment clause.
BBC sports news correspondent Gordon Farquhar said: "He is understood not to be interested in a long-term ownership, just averting the current crisis."
Chainrai's company Portpin may sell the club before the end of the season.
A Pompey spokesman said: "Portpin have exercised a clause in their contractual agreement to take a controlling interest. They are taking control on a temporary basis to allow new owners to be found.
"Portpin's aim is to come in and stabilise the club, sort out the business with the winding-up order from HMRC and sell it on to new owners.
"New directors will be appointed to the board and Peter Storrie will remain as chief executive and will be running the club."
Farquhar added on BBC Radio 5 live: "Chainrai has invoked a clause in a loan contract he struck with the club's third owner this year, Ali Al Faraj, giving him the right to take over 90% of the shares should they default on repayments to him.
"He recently loaned the club £15m to £20m to help get them through their current financial crisis, which still isn't resolved and now the loans have not been repaid he's the new owner of the club on that basis.
I look at Pompey and think of Varneys comment at the Bromley supporters club meeting about a bloke from Essex waking up to find £5 in his pocket and trying to buy Charlton...replace that with "bloke from the Middle East" and you have Pompey.
Who goes first? Portsmouth or Greece?
If pompey go into administration it's their own fault and they deserve the punishment. I very much doubt they will be back in the prem for a long long time
that goes for palace and whoever else goes into administration .......badly run clubs have to be accountable for their mismanagement
Sorry but i disagree with this. He took over Pompey when they were in big danger of going down, saved them, led them to their highest league placing in about 50-60 years, won them a trophy and got them into Europe.
I said earlier on this very thread that he signed Glen Johnson, Muntari and Diarra for a total of 16m. Pompey sold them on for a total of 53m. How is that having a lot to answer for?
Added to that when he left for Spurs they got about 5m in compensation for him.