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Portsmouth Going Into Administration?

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    Another relegation to Hermann's collection. Is he the Uncle Albert of football?
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    [cite]Posted By: pilchard[/cite]Another relegation to Hermann's collection. Is he the Uncle Albert of football?

    I'd have him back here any day. Now there's a bloke who likes to get stuck in showing pride and passion.
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    His ability is not in question. His collection of relegations must be some kind of a record.
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    [cite]Posted By: pilchard[/cite]His ability is not in question. His collection of relegations must be some kind of a record.

    Without a doubt. Perhaps we could have him back at the start of the new season if we fail to go up. He could possibly add another relegation to his record.
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    Hopefully not
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    This thing of going into admin, clearing your debts cheaply and then re-emerging as a much more attractive option to get re-investment is really frustrating. Short term the points penalty is a blow, but longer term you can benefit much more through being 'debt-free' and being better placed to get investment. That's what seems to be happening with southampton, who look a lot more secure long term than we do, and would be better placed for promotion next year than us.

    It's not right, but I don't know what the answer is. I don't want to see teams fold (with our history...) but it's annoying to see teams get an advantage over clubs who are better run or clubs who battle against their debts.

    There was a Portsmouth MP on sky sports news demanding that the PL help them out and pay off some of their debts. The PL can't just give an advantage to one team over the rest, apart from being a sport, this is a multi-million or billion pound business.

    The sport here needs proper regulation because clubs have shown they won't take responsibility and the Premier League has turned a blind eye. Hopefully now they'll realise that clubs might not always find a way to carry on.
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    HMRC are now contesting Portsmouth going into voluntary administration.

    Could be an interesting day for them in the High Court tomorrow.
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    Thats very interesting.......What exactly does that mean ?
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    Portsmouth's administrator has told Sky Sports News that the club will return to the High Court on Tuesday as Her Majesty's Revenue and Customs is contesting their voluntary administration.

    The Inland Revenue is said to be furious that the Premier League's rock-bottom side managed to avoid Monday's winding-up order for a £7million unpaid tax bill by entering administration on Friday.

    Administrator Andrew Andronikou has confirmed to Sky Sports News that he and Portsmouth's lawyers are due back in court at 10.30am on Tuesday as a result.

    This is a hard-line stance from the Inland Revenue due to a reported anger over the fact that it is not considered a priority creditor.

    Andronikou remains calm and is not overly concerned by the latest development, saying: "We're having to go to court to show that the debenture is valid.

    "I don't understand the exact reason why this is, we're just following normal protocol. We're not unduly worried.

    "It's not standard procedure but I'd imagine that HMRC are basically crossing their Is and dotting their Ts.

    "We're expecting the administration to proceed as it was."
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    Thaks addickted.
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    [cite]Posted By: BBClaus[/cite]This thing of going into admin, clearing your debts cheaply and then re-emerging as a much more attractive option to get re-investment is really frustrating. Short term the points penalty is a blow, but longer term you can benefit much more through being 'debt-free' and being better placed to get investment. That's what seems to be happening with southampton, who look a lot more secure long term than we do, and would be better placed for promotion next year than us.

    It's not right, but I don't know what the answer is. I don't want to see teams fold (with our history...) but it's annoying to see teams get an advantage over clubs who are better run or clubs who battle against their debts.

    There was a Portsmouth MP on sky sports news demanding that the PL help them out and pay off some of their debts. The PL can't just give an advantage to one team over the rest, apart from being a sport, this is a multi-million or billion pound business.

    The sport here needs proper regulation because clubs have shown they won't take responsibility and the Premier League has turned a blind eye. Hopefully now they'll realise that clubs might not always find a way to carry on.

    Agreed, but as a biased and hypocritical fan I just don't have the heart to push this point whilst we ourselves are under threat from administration. If we don't go up, I'd rather we got our own cushy 10 point hit out of the way first before harsher rules are brought in. It would sicken me to see us be a guinea pig for tighter financial rules next season, as Southampton romp to the title.
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    Bit of a Martin Christensen situation for Pompey here: Portsmouth can't afford to pick Dindane
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    [cite]Posted By: The Red Robin[/cite]Bit of a Martin Christensen situation for Pompey here:Portsmouth can't afford to pick Dindane
    Christensen was just on a stupid wage. This is more like the situation with Francis Jeffers - if it wasn't going to cost us a wedge of cash which wasn't worth it in the long term, he probably would've got a couple more games when Curbs was short of strikers rather than having to play injured guys (Euell?).
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    WSSWSS
    edited April 2010
    Congrats Pompey.

    What a story, relegated yesterday without playing, into a FA Cup Final today. And knocking out Spurs in the process. Lovely.
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