You've just got to love Daniel Levy. He could sell sand to the Egyptians and snow to the Eskimos. Only he could make money out of a player who hasnt even played for Spurs! In all seriousness though, no wonder Pompey are in serious sh1te with negotiaton skills like that.
The best bit of business they did was whoever agreed the FA Cup bonus scheme. When they won it in 2008 they picked up 1.8m in prize money...............and paid out 3.2m in bonuses. Win a cup and lose money!!
[cite]Posted By: Friend Or Defoe[/cite]They owe Spurs £1m for a player they sold them as part of a sell on cause, despite the fact that he was sold directly to Stoke and never played for Spurs.
That confused me. I know he was linked with Spurs in January, but did they actually sell him to Spurs, who then sold him to Stoke? Or have they just agreed a deal with Spurs that they receive any money from Begovic to settle outstanding debts?
Anyone else think they are a bit like a kid in a sweetshop!
I thunk Tottenham shafted them a couple of times!
So in Redknapps managerial career he's been at ;
Bournemouth - administration
west ham - ??????
Pompey - admin
Southampton - admin
tottenham - safe. For now.
I know he's not totally at fault but there is a theme ;-)
[cite]Posted By: Swisdom[/cite]Anyone else think they are a bit like a kid in a sweetshop!
I thunk Tottenham shafted them a couple of times!
So in Redknapps managerial career he's been at ;
Bournemouth - administration
west ham - ??????
Pompey - admin
Southampton - admin
tottenham - safe. For now.
I know he's not totally at fault but there is a theme ;-)
Exactly and he'll deny having anything to do with any of the clubs he's ever been at being in a financial mess and even claims he's made money for some of them. I genuinely cannot understand why this bloke seem to be held in such esteem by the media when they should be all over him to stop him doing it to someone else...unless it's Spurs ;-)
The only person that may come out of this whole mess with any credit is Avram Grant.
He got a raw deal at Chelsea and seems to be holding things together at Portsmouth. A better manager than people give him credit for being.
[cite]Posted By: American_Addick[/cite]The only person that may come out of this whole mess with any credit is Avram Grant.
He got a raw deal at Chelsea and seems to be holding things together at Portsmouth. A better manager than people give him credit for being.
How long before 'Arry bankrupts Spurz?
Erm, do you really think Daniel Levy, ENIC board and the Tottenham Hotspur plc would let HR near the finances of Totteham Hotspur plc?
[cite]Posted By: Henry Irving[/cite]
[cite]Posted By: Swisdom[/cite]
[cite]Posted By: AFKABartram[/cite]Just been reading the list of trade creditors (about 450 of them), and some of those listed there are unbelievable.
How can a Premiership football club owe money to youth teams, schools, colleges, scout associations etc ?????????
You have to wonder why the Premier League aren't employing auditors to look at the books of all clubs in the top flight. They should be audited on an annual basis by a firm of independent auditors.
Careful, that's what Platini suggested and was slated for being "anti-English" or maybe that was the journo's saying what the clubs wanted them to.
It's what they do in France now after years of financial problems. Can't provide accounts or a proper budget and down you go to a lower league. Harsh but fair.
Tottenham Hotspur plc is independently audited by Deloitte on an annual basis. The Financial Statements and Audit Report is available on the club website. I would have thought that due to the turnovers of all Premiership clubs involved, it would be an absolute necessity that all provide publically accessable audited accounts. I'm shocked that this clearly isnt the case.
I'm sure the other clubs would have said something similar too. It seems to me too much of a coincidence that he's long gone before his chickens start coming home to roost - it's happened several times now. He's either incredibly lucky in his timing or he knows when to get out......and in case his lawyers are watching I'd categorically state that he's very lucky and not at all dodgy in any way.
[cite]Posted By: Bournemouth Addick[/cite]I'm sure the other clubs would have said something similar too. It seems to me too much of a coincidence that he's long gone before his chickens start coming home to roost - it's happened several times now. He's either incredibly lucky in his timing or he knows when to get out......and in case his lawyers are watching I'd categorically state that he's very lucky and not at all dodgy in any way.
When he joined Spurs he said something to the effect of "Pompey get £3 million and they really need it". Doubt even he knew the scale of it though.....
Portsmouths points deduction is not enough. They have not been punished at all this season -9 has not made any difference to their season as they would have been relegated anyway
Next season they should start on -30 or be relegated 2 divisions this season.
Our finances are bad because we got relegated out of the blue, however theirs are simply unbelievable and can not be ignored. some of the deals/ debts must be verging on ilegal.
Harry is the blue eyed boy when it comes to certain elements of the press. However he has to be held responsible for part of this problem
Swisdom - good shout. In fact "not common practice" is putting it mildly. If you've got something you are trying to flog you don't come out publicly and say it's shite.
To me it says either the fella is trying to "come clean" in order to try to maintain some form of credibility in the eyes of fans (customers) and potential buyers, or else he's given up the ghost, knows he isn't getting paid, and is on a damage limitation exercise personally.
Either way, not good.
I genuinely feel for the fans, but it really doesn't take much to work out that a club of that size, with that fan base and income couldn't afford that level of outgoing in the long term. Something had to give.
If I were the cynical type then the term "money laundering" might spring to mind. Luckilly I'm not and have no such thoughts.
[cite]Posted By: The Guardian[/cite]It is understood the club initially agreed a combined fee with Spurs for Younes Kaboul and the promising Bosnian goalkeeper, but agreed to a clause promising that if Begovic went elsewhere they would pay Spurs a £1m fee in compensation. When the club subsequently agreed to sell Begovic to Stoke City following a protracted negotiation, the £1m fee kicked in and was due to be paid by the end of last month. It makes up part of the £17.3m owed in current and future instalments on players including Sulley Muntari, Mike Willliamson and Nadir Belhadj.
Looks like Harry/Levy have done their best to stuff Pompey some more!
[cite]Posted By: The Guardian[/cite]It is understood the club initially agreed a combined fee with Spurs for Younes Kaboul and the promising Bosnian goalkeeper, but agreed to a clause promising that if Begovic went elsewhere they would pay Spurs a £1m fee in compensation. When the club subsequently agreed to sell Begovic to Stoke City following a protracted negotiation, the £1m fee kicked in and was due to be paid by the end of last month. It makes up part of the £17.3m owed in current and future instalments on players including Sulley Muntari, Mike Willliamson and Nadir Belhadj.
Looks like Harry/Levy have done their best to stuff Pompey some more!
Not quite Levy stuffing Pompey...Pompey stuffed us over the transfer of Begovic so we're invoking the clause that Levy insisted on should Pompey have stuffed Spurs in the transfer, like they did. Nothing wrong with that. Its called protecting your own clubs interest.
Don't forget they owe forty quid to pukka pies - they should cough that up PDQ as they probably got more use out of a few boxes of steak and kidney than they ever did out of Djimi Traore...
Can't agree with this sentiment that Portsmouth have not been punished enough - I think they've been punished more than enough. Why should Portsmouth be punished at all for being mismanaged by people who have subsequently left to make hay somewhere else?
Leeds are still suffering the consequences of being appallingly mismanaged by Peter Risdale - they get a 15 point deduction and find themselves stranded in the third division whilst Risdale gets to walk away and start again at Cardiff City, who he has now taken to the verge of administration.
Surely it should be the Risdales and Gaydamaks who are punished rather than the clubs that are left behind facing a battkle to stay in existence. Would also be helpful if the Premier League and Football League could explain how people like this, and the faceless Munto Finance company which took over Notts County, continue to pass their Fit and Proper Person tests.
Not quite Levy stuffing Pompey...Pompey stuffed us over the transfer of Begovic so we're invoking the clause that Levy insisted on should Pompey have stuffed Spurs in the transfer, like they did. Nothing wrong with that. Its called protecting your own clubs interest.
It was meant in jest, if Pompey agreed to it then they're mugs, and if they did agree to it then obviously Spurs are in the right. However whatever way you look at it, to get money for a player you never owned is ridiculous.....
Christ almighty it used to be you just read injury news and transfer gossip on the back pages, these days you got to have a 'Dummies Guide to Accountancy' to work out what's what...
Paying out £1m for players who've never even been on the books and subsequently get sold to someone else for flip's sake!
Portsmouth have banked money for players but not paid amounts o/s from when they bought in - The premier league, FA and UEFA should not allow this...
They've clearly been trading for x years while insolvent - that's contrary to the Companies Act - simple answer is that clubs at a certain level must prove they are solvent before being allowed to buy in players or pay agents
3 sets of owners are owed £40m - they shouldn't get a bean... all directors loans should be converted to shares so they get wiped out if the club goes into the ground... and they've probably charged arrangement fees and interest too !!!
Ridsdale, Storie, Redknapp and Jordan have all been trying to buy success on tick... something Charlton refused to do until Dowie and Pardew came along.... we're suffering for that now but we'll be back... nothing against these people or clubs but if some controls are put in place then maybe the agents and players will have less scope to take all the money out of the game
Pompey creditors today are meeting on wehter they should accept 20 / 25p in the £. The debt has now gone up to £138m.
75% of creditors need to vote for the arrangement to take Pompey out of administration including the taxman and local butcher. Footballing debts get paidoffin full.
[quote][cite]Posted By: seriously_red[/cite]Ridsdale, Storie, Redknapp and Jordan have all been trying to buy success on tick... something Charlton refused to do until Dowie and Pardew came along.... we're suffering for that now but we'll be back... nothing against these people or clubs but if some controls are put in place then maybe the agents and players will have less scope to take all the money out of the game[/quote]
Still, I'd rather be solvent in Leaque 1 than be insolvent in the leaque above us. I agree, we'll be back.
Comments
You've just got to love Daniel Levy. He could sell sand to the Egyptians and snow to the Eskimos. Only he could make money out of a player who hasnt even played for Spurs! In all seriousness though, no wonder Pompey are in serious sh1te with negotiaton skills like that.
I thunk Tottenham shafted them a couple of times!
So in Redknapps managerial career he's been at ;
Bournemouth - administration
west ham - ??????
Pompey - admin
Southampton - admin
tottenham - safe. For now.
I know he's not totally at fault but there is a theme ;-)
I was wondering this but haven't Stockport been in admin for about a year?
Surely there comes a point when someone has to say '£119m is a joke and no one will buy you, so forget it you're in too much debt, you need to fold'
Exactly and he'll deny having anything to do with any of the clubs he's ever been at being in a financial mess and even claims he's made money for some of them. I genuinely cannot understand why this bloke seem to be held in such esteem by the media when they should be all over him to stop him doing it to someone else...unless it's Spurs ;-)
He got a raw deal at Chelsea and seems to be holding things together at Portsmouth. A better manager than people give him credit for being.
How long before 'Arry bankrupts Spurz?
It's just a strong possibility for us.
Erm, do you really think Daniel Levy, ENIC board and the Tottenham Hotspur plc would let HR near the finances of Totteham Hotspur plc?
Tottenham Hotspur plc is independently audited by Deloitte on an annual basis. The Financial Statements and Audit Report is available on the club website. I would have thought that due to the turnovers of all Premiership clubs involved, it would be an absolute necessity that all provide publically accessable audited accounts. I'm shocked that this clearly isnt the case.
However, I seriosuly doubt that Spurs (or Deloittes) would ever get mugged over like that. (For the CL lawyers)
maybe he knows it's going to go boobs up and he wants to show there wasn't really much he could do about it
When he joined Spurs he said something to the effect of "Pompey get £3 million and they really need it". Doubt even he knew the scale of it though.....
Next season they should start on -30 or be relegated 2 divisions this season.
Our finances are bad because we got relegated out of the blue, however theirs are simply unbelievable and can not be ignored. some of the deals/ debts must be verging on ilegal.
Harry is the blue eyed boy when it comes to certain elements of the press. However he has to be held responsible for part of this problem
To me it says either the fella is trying to "come clean" in order to try to maintain some form of credibility in the eyes of fans (customers) and potential buyers, or else he's given up the ghost, knows he isn't getting paid, and is on a damage limitation exercise personally.
Either way, not good.
I genuinely feel for the fans, but it really doesn't take much to work out that a club of that size, with that fan base and income couldn't afford that level of outgoing in the long term. Something had to give.
If I were the cynical type then the term "money laundering" might spring to mind. Luckilly I'm not and have no such thoughts.
Guardian assessment
Looks like Harry/Levy have done their best to stuff Pompey some more!
You may like to see the statement Spurs released this morning...http://www.tottenhamhotspur.com/news/articles/club-statement-220410.html
Not quite Levy stuffing Pompey...Pompey stuffed us over the transfer of Begovic so we're invoking the clause that Levy insisted on should Pompey have stuffed Spurs in the transfer, like they did. Nothing wrong with that. Its called protecting your own clubs interest.
Leeds are still suffering the consequences of being appallingly mismanaged by Peter Risdale - they get a 15 point deduction and find themselves stranded in the third division whilst Risdale gets to walk away and start again at Cardiff City, who he has now taken to the verge of administration.
Surely it should be the Risdales and Gaydamaks who are punished rather than the clubs that are left behind facing a battkle to stay in existence. Would also be helpful if the Premier League and Football League could explain how people like this, and the faceless Munto Finance company which took over Notts County, continue to pass their Fit and Proper Person tests.
£6 million to agents in 2 seasons and a £40 million wage bill when the club turns over £50 million........gulp
You forgot to mention Dowie !
and tbf, it sounds like Spurs stuffed the Begovic deal, as opposed to Pompey stuffing Spurs: Begovic move collapsing after bumping into rival keeper at Spurs medical
Paying out £1m for players who've never even been on the books and subsequently get sold to someone else for flip's sake!
They've clearly been trading for x years while insolvent - that's contrary to the Companies Act - simple answer is that clubs at a certain level must prove they are solvent before being allowed to buy in players or pay agents
3 sets of owners are owed £40m - they shouldn't get a bean... all directors loans should be converted to shares so they get wiped out if the club goes into the ground... and they've probably charged arrangement fees and interest too !!!
Ridsdale, Storie, Redknapp and Jordan have all been trying to buy success on tick... something Charlton refused to do until Dowie and Pardew came along.... we're suffering for that now but we'll be back... nothing against these people or clubs but if some controls are put in place then maybe the agents and players will have less scope to take all the money out of the game
75% of creditors need to vote for the arrangement to take Pompey out of administration including the taxman and local butcher. Footballing debts get paidoffin full.
Still, I'd rather be solvent in Leaque 1 than be insolvent in the leaque above us. I agree, we'll be back.