It saddens me that a club like Scarborough went bust for not a lot more than someone like Rooney's spend on a night out.
Must've been a brilliant night out!!
"Despite the support of Scarborough Borough Council and the company's creditors, the club simply ran out of time. The company's total debt amounts to £2.5m"
OK I accept there was a touch of poetic licence!
My point remains though. That sum is peanuts in the overall sceme of things and clubs like Scarborough, Chester and Rushden and Diamonds, to name just 3, would probably be here today with a more equitable distribution of TV money.
It saddens me that a club like Scarborough went bust for not a lot more than someone like Rooney's spend on a night out.
Must've been a brilliant night out!!
"Despite the support of Scarborough Borough Council and the company's creditors, the club simply ran out of time. The company's total debt amounts to £2.5m"
OK I accept there was a touch of poetic licence!
My point remains though. That sum is peanuts in the overall sceme of things and clubs like Scarborough, Chester and Rushden and Diamonds, to name just 3, would probably be here today with a more equitable distribution of TV money.
If football clubs get more money they just spunk more money Len. we all know that. As "businesses" they are virtually all run on a financially unsound basis.
It saddens me that a club like Scarborough went bust for not a lot more than someone like Rooney's spend on a night out.
Must've been a brilliant night out!!
"Despite the support of Scarborough Borough Council and the company's creditors, the club simply ran out of time. The company's total debt amounts to £2.5m"
OK I accept there was a touch of poetic licence!
My point remains though. That sum is peanuts in the overall sceme of things and clubs like Scarborough, Chester and Rushden and Diamonds, to name just 3, would probably be here today with a more equitable distribution of TV money.
If football clubs get more money they just spunk more money Len. we all know that. As "businesses" they are virtually all run on a financially unsound basis.</</b>blockquote>
Two wrongs don't make a right I suppose but it doesn't seem fair to me that little clubs can go to the wall for comparative peanuts while the premiership giants carry on being feckless.
If Murdoch wakes up one day and says "sod this for a game of soldiers I'm not spending money on football anymore" God only knows what carnage would ensue!
Sorry I don't seem to be able to edit the bold or the link!
My understanding is that things are very complicated at Portsmouth.
The previous owner of Portsmouth FC still owns the ground (Fratton Park). The fans are trying to raise £2.5 million to buy the ground, which they believe is what it is worth. However the previous owner wants £11 million. They are going to the high court to try and get a compromise on price. However the question is it is not only the value of Fratton Park that is under judgement, but also importantly whether the previous owner can be forced to sell.
There are a number of people that believe if the previous owner can delay things until May, Portsmouth FC will have breached administration and the FL will have no option but to wind up the club up.
Portsmouth city council currently says that Fratton Park can only be used for sport/football. However if there was no football club, then the owner of the ground/land could apply to sell it for redevelopment. Basically in a nutshell the only thing of any value left at Portsmouth FC is the ground and the previous owner is trying to recoup his losses as best he can.
Portsmouth supporters have my full support as I have always loved seeing us play them. One, they have always been a well supported footballing side, and two, my cousins support them, and one runs their disabled supporters group. Being blind makes 'watching' football just that bit more difficult! (He does get in for free to most grounds though - including ours). The thought of once great clubs disapearing whilst those at the top put their snouts deeper and deeper in the trough is a national disgrace. The owners may deserve all that comes their way, but not their supporters. The FA said that all these owners were all fit to run a football club. They were wrong - as they are about most things. They should find a way to ensure that the 'pitch' itself at least belongs to Football if a Co goes under. We were lucky that our ground could not be developed or we would not be here. One can only hope that Portsmouth Council do not change the use and the ground stays for use of sport only. That way at least those who may have not acted in the best interest of the club do not profit and the supporters of Pompey still have the hope and opportunity to rise once more. The Premier League need to spread the dosh about. Nicking youth players for next to nothing is not 'puting money back into the game'. The lack of opportunities to get in the Prem is going to make the lower leagues as stagnant as the Scottish Leagues. The whole of football in England and Wales needs to move back to one FA governing football, and for the benefit of all. We could even try and make kids football relevant!
Portsmouth City Council has approved and finalised a loan to the Pompey Supporters' Trust (PST) which is looking to buy the stricken club.
The Trust has been given a £1.45m bridging loan by the council which it will pay back at a rate of 5%.
The loan will enable the Trust, along with property developer Stuart Robinson, to buy Fratton Park.
Administrators of the club must first release former owner Portpin's hold on the club through the High Court.
The decision to hand over the money was taken at an emergency meeting on Wednesday despite a last-minute appeal by Labour and Conservative leaders to council cabinet to delay the decision.
Cllr Gerald Vernon Jackson said a decision had to be taken so administrators could file papers with the courts.
"Without the money, the city would have been left with no professional football team and officers say the risk to council tax payers is now less than when the entire council voted to help out last August, " said Jackson.
"The council has first call on the parachute payments from the league in August this year when the loan has to be repaid," he said.
Portsmouth have been in administration since 17 February 2012.
The club are currently the subject of a takeover bid by the PST, but approval is conditional on the group taking control of the club's Fratton Park stadium.
Another former owner, Balram Chainrai, claims he is owed £12m and holds the stadium as security through his company Portpin via a fixed charge.
The PST has offered Chainrai £3m for the ground, but the Hong Kong businessman has so far refused to sell.
Administrators PKF are attempting to force the sale of Fratton Park at the High Court and that case will be heard by 19 April at the latest.
The Football League has warned the club must exit administration before the end of the season or face expulsion.
So just to clarify the club that owes HMRC (the tax payer) millions is now being given a financial package from the tax payer to 'buy' them the chance to demand that the current owner of the ground is forced to sell it for a quarter of what he lent on it.
If this is successful, and if the Courts agree that the loan on Fratron Park should be ignored so that the worst run football club in history can just buy it for what they fancy, the parachute payments (that were, initially, used as a guarantee when Portsmouth agreed to pay back £20m of the £150m a few years ago) will be used to pay for another owner to buy the club.
Then, presumably, the rest of the parachute payments will be used to sign more players that they can't afford while they knock the majority of the current £60m debts and start again.
This is becoming more and more scandalous as the months go by.
Just how much money that could be used to provide health services to the sick children of those that have always paid their bills has to be thrown away on this poxy football club before they kill it.
If Portsmouth have a supporter base of 20,000 the money that they have now knocked is in excess of £8,000 per fan. That would be enough to provide a free season ticket for our 11,000 season ticket holders for over 36 years - and I'm assuming an average price of £400 and I suspect that it's less than that.
If this latest plan doesn't work and the Council have advanced that money and they fail and the club is wound up and/or expelled from the league I suppose that parachute money will never be received, and never paid back to the Council.
So just to clarify the club that owes HMRC (the tax payer) millions is now being given a financial package from the tax payer to 'buy' them the chance to demand that the current owner of the ground is forced to sell it for a quarter of what he lent on it.
If this is successful, and if the Courts agree that the loan on Fratron Park should be ignored so that the worst run football club in history can just buy it for what they fancy, the parachute payments (that were, initially, used as a guarantee when Portsmouth agreed to pay back £20m of the £150m a few years ago) will be used to pay for another owner to buy the club.
Then, presumably, the rest of the parachute payments will be used to sign more players that they can't afford while they knock the majority of the current £60m debts and start again.
This is becoming more and more scandalous as the months go by.
Just how much money that could be used to provide health services to the sick children of those that have always paid their bills has to be thrown away on this poxy football club before they kill it.
If Portsmouth have a supporter base of 20,000 the money that they have now knocked is in excess of £8,000 per fan. That would be enough to provide a free season ticket for our 11,000 season ticket holders for over 36 years - and I'm assuming an average price of £400 and I suspect that it's less than that.
If this latest plan doesn't work and the Council have advanced that money and they fail and the club is wound up and/or expelled from the league I suppose that parachute money will never be received, and never paid back to the Council.
Talk about buying votes!
Disgraceful!
Can see where you're coming from KHA. Lets knock down Fratton Park and build a hospital , shall we.
So just to clarify the club that owes HMRC (the tax payer) millions is now being given a financial package from the tax payer to 'buy' them the chance to demand that the current owner of the ground is forced to sell it for a quarter of what he lent on it.
If this is successful, and if the Courts agree that the loan on Fratron Park should be ignored so that the worst run football club in history can just buy it for what they fancy, the parachute payments (that were, initially, used as a guarantee when Portsmouth agreed to pay back £20m of the £150m a few years ago) will be used to pay for another owner to buy the club.
Then, presumably, the rest of the parachute payments will be used to sign more players that they can't afford while they knock the majority of the current £60m debts and start again.
This is becoming more and more scandalous as the months go by.
Just how much money that could be used to provide health services to the sick children of those that have always paid their bills has to be thrown away on this poxy football club before they kill it.
If Portsmouth have a supporter base of 20,000 the money that they have now knocked is in excess of £8,000 per fan. That would be enough to provide a free season ticket for our 11,000 season ticket holders for over 36 years - and I'm assuming an average price of £400 and I suspect that it's less than that.
If this latest plan doesn't work and the Council have advanced that money and they fail and the club is wound up and/or expelled from the league I suppose that parachute money will never be received, and never paid back to the Council.
Talk about buying votes!
Disgraceful!
Can see where you're coming from KHA. Lets knock down Fratton Park and build a hospital , shall we.
To be honest I think the people of Portsmouth have had enough. We should knock it down, build a retail park and use the money from that to build a hospital in an area that really needs it. I'm sure that there is a massive funding shortage at the hospital in Eltham (unless I've got that mixed up with something else). Let's build on Fratton Park and keep the wards open in Eltham that are going to be shut to help fund the whole in the public finances, that have been caused by Portsmouth's failure to pay HMRC what all other normal businesses manage to pay.
Well, sorry, but you're wrong. I work in Pompey, and all the people i work with are Pompey fans. Yes, they have had enough, but they have had enough of all those dark characters that have come and fleeced the club - at least, they believe, that if its in the supporters trusts hands then the income wont depart to foreign shores to dodgy bank accounts. Sadly , they have their blinkers on in terms of the bigger picture, but sometimes when you look at the likes of Starbucks and Amazon, think that maybe the whole way that tax is reclaimed in this country is highly flawed. Its a proud footballing area, walk down Portsmouth high st (Commercial St.) and you will only see Pompey shirts - you wont see Man U orMan City or Chelsea(and def not Southampton !). They are bottom of the league but still get regular attendances that are in the top 5 for averages. This is our heritage as a nation= not to be destroyed by some cnuts who have come here and run off with their ill=gotten dosh. Yeah, its not right, but i think its our heritage - and i think that Amazon and Google and Starbucks have a lot more to answer than Portsmouth Fc , or Portsmouth Fans Trust or Portsmouth Council. Go chase the likes of Gaydamak, Mandaric,Chainrai, and any other foreigner who has no real interest in OUR heritage other than to rape and pillage.
So just to clarify the club that owes HMRC (the tax payer) millions is now being given a financial package from the tax payer to 'buy' them the chance to demand that the current owner of the ground is forced to sell it for a quarter of what he lent on it.
If this is successful, and if the Courts agree that the loan on Fratron Park should be ignored so that the worst run football club in history can just buy it for what they fancy, the parachute payments (that were, initially, used as a guarantee when Portsmouth agreed to pay back £20m of the £150m a few years ago) will be used to pay for another owner to buy the club.
Then, presumably, the rest of the parachute payments will be used to sign more players that they can't afford while they knock the majority of the current £60m debts and start again.
This is becoming more and more scandalous as the months go by.
Just how much money that could be used to provide health services to the sick children of those that have always paid their bills has to be thrown away on this poxy football club before they kill it.
If Portsmouth have a supporter base of 20,000 the money that they have now knocked is in excess of £8,000 per fan. That would be enough to provide a free season ticket for our 11,000 season ticket holders for over 36 years - and I'm assuming an average price of £400 and I suspect that it's less than that.
If this latest plan doesn't work and the Council have advanced that money and they fail and the club is wound up and/or expelled from the league I suppose that parachute money will never be received, and never paid back to the Council.
Talk about buying votes!
Disgraceful!
Can see where you're coming from KHA. Lets knock down Fratton Park and build a hospital , shall we.
To be honest I think the people of Portsmouth have had enough. We should knock it down, build a retail park and use the money from that to build a hospital in an area that really needs it. I'm sure that there is a massive funding shortage at the hospital in Eltham (unless I've got that mixed up with something else). Let's build on Fratton Park and keep the wards open in Eltham that are going to be shut to help fund the whole in the public finances, that have been caused by Portsmouth's failure to pay HMRC what all other normal businesses manage to pay.
There is a hospital right next door to Fratton Park (St Marys) I will be having an eye test/appointment there on Friday morning. Also the city has a newly rebuilt huge hospital in Cosham (Queen Aleandra) just north of the city. I have a Pompey supporting wife and step daughter and they know my thoughts on their club.They and their fellow fans enjoyed the fruits of their ill gotten gains and are paying the price. I was a Portsmouth City Council payer until 2006 so hopefully they have spent all my payments. I would be rather peeved if I was still paying it today. Let them be a phoenix club and start again.
So just to clarify the club that owes HMRC (the tax payer) millions is now being given a financial package from the tax payer to 'buy' them the chance to demand that the current owner of the ground is forced to sell it for a quarter of what he lent on it.
If this is successful, and if the Courts agree that the loan on Fratron Park should be ignored so that the worst run football club in history can just buy it for what they fancy, the parachute payments (that were, initially, used as a guarantee when Portsmouth agreed to pay back £20m of the £150m a few years ago) will be used to pay for another owner to buy the club.
Then, presumably, the rest of the parachute payments will be used to sign more players that they can't afford while they knock the majority of the current £60m debts and start again.
This is becoming more and more scandalous as the months go by.
Just how much money that could be used to provide health services to the sick children of those that have always paid their bills has to be thrown away on this poxy football club before they kill it.
If Portsmouth have a supporter base of 20,000 the money that they have now knocked is in excess of £8,000 per fan. That would be enough to provide a free season ticket for our 11,000 season ticket holders for over 36 years - and I'm assuming an average price of £400 and I suspect that it's less than that.
If this latest plan doesn't work and the Council have advanced that money and they fail and the club is wound up and/or expelled from the league I suppose that parachute money will never be received, and never paid back to the Council.
Talk about buying votes!
Disgraceful!
Spot on KHA, obviously feel sorry for the supporters as always they are not to blame. Let the club die, they can then restart as in AFC Wimbledon with a clean slate.
On another tact here in Chesterfield the Football Club are asking the council to write off a £1M loan they made to the club when they moved to the new ground, needless to say they have refused as local Council Tax payers - including me- are not having any of it.
I've no sympathy with the former owner as its apparent that the loan is a trumped up deal in which he has covered his losses by taking out a claim to the ground. Man up and take the medicine, I say!
TBH most if not all of the owners over the last 10 years need to be brought up and asked some very serious questions - of which the first one should be Where is the money ? However, why should the real fans/people of Portsmouth be shat upon because of the financial irregularities of people that the FA have determined as being 'fit and proper people'. Yes, let them be a phoenix (and thats all that Pompey fans expect btw), but to decide to exterminate the club just because of scandalous previous owners aint right.
Yes, let them be a phoenix (and thats all that Pompey fans expect btw), but to decide to exterminate the club just because of scandalous previous owners aint right.
I have a soft spot for Pompey but our club and all the others are struggling to keep afloat - why should Pompey get preferential treatment? Our own history shows that no club has a god given right to exist and I wouldn't expect the council taxpayers of Greenwich to underwrite our club. Pompey are cheating every other club in the Football League by continuing to operate with their current debts (others have done it in the past and got away with it). In 2000 - 2002 I worked with a load of Pompey fans - the only one who was a season ticket holder thought that the Mandric investment would end in tears. All of the others were less committed fans who thought that the good times were returning for them but sadly for PFC that was short lived.
Much as it pains me to say but in the interests of fairness to the competition, Portsmouth FC should not have any further stays of execution.
TBH most if not all of the owners over the last 10 years need to be brought up and asked some very serious questions - of which the first one should be Where is the money ? However, why should the real fans/people of Portsmouth be shat upon because of the financial irregularities of people that the FA have determined as being 'fit and proper people'. Yes, let them be a phoenix (and thats all that Pompey fans expect btw), but to decide to exterminate the club just because of scandalous previous owners aint right.
TBH most if not all of the owners over the last 10 years need to be brought up and asked some very serious questions - of which the first one should be Where is the money ? However, why should the real fans/people of Portsmouth be shat upon because of the financial irregularities of people that the FA have determined as being 'fit and proper people'. Yes, let them be a phoenix (and thats all that Pompey fans expect btw), but to decide to exterminate the club just because of scandalous previous owners aint right.
I think you've missed the point. Football clubs are important but they have overspent many times over. They have appeared in two FA Cup finals and they won one of them.
This was all done with someone else's money. There comes a point when the rest of the world (and I'm really talking about those that don't care for football) refuse to continue to bankroll a business that is taking the pee. It is tax payers money that is being lost and/or used to fund it.
Go out into the main high street in Portsmouth and find someone who had a relative that has just died of something that was treatable but treatment was refused because tough choices need to be made with the limited amount of money available and ask them if they think another £1.45m of money that could have saved their loved one should be used to bankroll a football club that has already failed to repay over £100m they they borrowed.
Keep blaming the foreign owners all day long it won't change the fact that the club paid players a fortune then was unable to pay the income tax and national insurance on those wages. Money that belongs to us - the tax payers.
I think it would have been more credible if they hadn't agreed to come out of hat administration then went on to sign another load of players and spent another £60m that they are now expecting the creditors to write off.
Unless all of the debt is totally written off, and while we're at it the season ticket holders would have to fork out again, there is almost no way the Supporters Trust can bankroll the club in the fourth division with the cost of maintaining a knackered ground.
The club were never, ever going to be able to honour the agreement they made to waive the majority of the £150m. There is also little chance of the new structure (unless the council rebuild the ground and/or waive the rates) can keep its head above water. Where is the £3m going to come from to buy the ground?
If the fans really can raise £5m why didn't they do so two years ago when small business owners were losing their homes because the club owed them so much money.
The ultimate question is just how much money is it going to take and where is it going to come from?
My point is that they have no long term plan, they just keep getting a further stay of execution after another one. If they'd been wound up three years ago the £60 they are now about to fail to repay would never have been spent.
I, personally, think that's too much money for what is essentially a hobby for a minority.
In our last Premier League season round about this time of year I think it was announced that the team relegated from the Premier League would get £50m compared to £12m the season went down. That put some pressure on us. But then I thought the way the money is going up is only going to make teams pay sillier money and if they go down thay will find themselves in even deepr trouble because the money in the Football League is just the same and that is exactlly whats happened to Pompey. A club their size was paying Sol Campbell £100k A WEEK. No wonder why they are dire trouble. And the sad thing is I think it may happen to another club if they are not careful.
I predict the Trust will become the new owners, will swiftly run out of money and the Council will take a hit. Then a foreigner will come in and buy the now debt-free Pompey at a snip. And so the whole thing will keep rolling on with the onlycertainty being that more local small businesses that can I'll afford it will be taken for mugs and players will get paid much more than they are worth.
Hope I am wrong and the trust does run Pompey at break-even. But they wont rise above Div 4 if that happens.
So just to clarify the club that owes HMRC (the tax payer) millions is now being given a financial package from the tax payer to 'buy' them the chance to demand that the current owner of the ground is forced to sell it for a quarter of what he lent on it.
If this is successful, and if the Courts agree that the loan on Fratron Park should be ignored so that the worst run football club in history can just buy it for what they fancy, the parachute payments (that were, initially, used as a guarantee when Portsmouth agreed to pay back £20m of the £150m a few years ago) will be used to pay for another owner to buy the club.
Then, presumably, the rest of the parachute payments will be used to sign more players that they can't afford while they knock the majority of the current £60m debts and start again.
This is becoming more and more scandalous as the months go by.
Just how much money that could be used to provide health services to the sick children of those that have always paid their bills has to be thrown away on this poxy football club before they kill it.
If Portsmouth have a supporter base of 20,000 the money that they have now knocked is in excess of £8,000 per fan. That would be enough to provide a free season ticket for our 11,000 season ticket holders for over 36 years - and I'm assuming an average price of £400 and I suspect that it's less than that.
If this latest plan doesn't work and the Council have advanced that money and they fail and the club is wound up and/or expelled from the league I suppose that parachute money will never be received, and never paid back to the Council.
Talk about buying votes!
Disgraceful!
Can see where you're coming from KHA. Lets knock down Fratton Park and build a hospital , shall we.
To be honest I think the people of Portsmouth have had enough. We should knock it down, build a retail park and use the money from that to build a hospital in an area that really needs it. I'm sure that there is a massive funding shortage at the hospital in Eltham (unless I've got that mixed up with something else). Let's build on Fratton Park and keep the wards open in Eltham that are going to be shut to help fund the whole in the public finances, that have been caused by Portsmouth's failure to pay HMRC what all other normal businesses manage to pay.
There is a hospital right next door to Fratton Park (St Marys) I will be having an eye test/appointment there on Friday morning. Also the city has a newly rebuilt huge hospital in Cosham (Queen Aleandra) just north of the city. I have a Pompey supporting wife and step daughter and they know my thoughts on their club.They and their fellow fans enjoyed the fruits of their ill gotten gains and are paying the price. I was a Portsmouth City Council payer until 2006 so hopefully they have spent all my payments. I would be rather peeved if I was still paying it today. Let them be a phoenix club and start again.
Comments
My point remains though. That sum is peanuts in the overall sceme of things and clubs like Scarborough, Chester and Rushden and Diamonds, to name just 3, would probably be here today with a more equitable distribution of TV money.
Go into administration once, shame on you.
Go into administration twice, shame on me.
Every club has potential to get it wrong, but to then repeat the same thing again needs a proper punishment.
The previous owner of Portsmouth FC still owns the ground (Fratton Park). The fans are trying to raise £2.5 million to buy the ground, which they believe is what it is worth. However the previous owner wants £11 million. They are going to the high court to try and get a compromise on price. However the question is it is not only the value of Fratton Park that is under judgement, but also importantly whether the previous owner can be forced to sell.
There are a number of people that believe if the previous owner can delay things until May, Portsmouth FC will have breached administration and the FL will have no option but to wind up the club up.
Portsmouth city council currently says that Fratton Park can only be used for sport/football. However if there was no football club, then the owner of the ground/land could apply to sell it for redevelopment. Basically in a nutshell the only thing of any value left at Portsmouth FC is the ground and the previous owner is trying to recoup his losses as best he can.
The thought of once great clubs disapearing whilst those at the top put their snouts deeper and deeper in the trough is a national disgrace. The owners may deserve all that comes their way, but not their supporters.
The FA said that all these owners were all fit to run a football club. They were wrong - as they are about most things. They should find a way to ensure that the 'pitch' itself at least belongs to Football if a Co goes under.
We were lucky that our ground could not be developed or we would not be here. One can only hope that Portsmouth Council do not change the use and the ground stays for use of sport only. That way at least those who may have not acted in the best interest of the club do not profit and the supporters of Pompey still have the hope and opportunity to rise once more.
The Premier League need to spread the dosh about. Nicking youth players for next to nothing is not 'puting money back into the game'. The lack of opportunities to get in the Prem is going to make the lower leagues as stagnant as the Scottish Leagues.
The whole of football in England and Wales needs to move back to one FA governing football, and for the benefit of all.
We could even try and make kids football relevant!
The Trust has been given a £1.45m bridging loan by the council which it will pay back at a rate of 5%.
The loan will enable the Trust, along with property developer Stuart Robinson, to buy Fratton Park.
Administrators of the club must first release former owner Portpin's hold on the club through the High Court.
The decision to hand over the money was taken at an emergency meeting on Wednesday despite a last-minute appeal by Labour and Conservative leaders to council cabinet to delay the decision.
Cllr Gerald Vernon Jackson said a decision had to be taken so administrators could file papers with the courts.
"Without the money, the city would have been left with no professional football team and officers say the risk to council tax payers is now less than when the entire council voted to help out last August, " said Jackson.
"The council has first call on the parachute payments from the league in August this year when the loan has to be repaid," he said.
Portsmouth have been in administration since 17 February 2012.
The club are currently the subject of a takeover bid by the PST, but approval is conditional on the group taking control of the club's Fratton Park stadium.
Another former owner, Balram Chainrai, claims he is owed £12m and holds the stadium as security through his company Portpin via a fixed charge.
The PST has offered Chainrai £3m for the ground, but the Hong Kong businessman has so far refused to sell.
Administrators PKF are attempting to force the sale of Fratton Park at the High Court and that case will be heard by 19 April at the latest.
The Football League has warned the club must exit administration before the end of the season or face expulsion.
If this is successful, and if the Courts agree that the loan on Fratron Park should be ignored so that the worst run football club in history can just buy it for what they fancy, the parachute payments (that were, initially, used as a guarantee when Portsmouth agreed to pay back £20m of the £150m a few years ago) will be used to pay for another owner to buy the club.
Then, presumably, the rest of the parachute payments will be used to sign more players that they can't afford while they knock the majority of the current £60m debts and start again.
This is becoming more and more scandalous as the months go by.
Just how much money that could be used to provide health services to the sick children of those that have always paid their bills has to be thrown away on this poxy football club before they kill it.
If Portsmouth have a supporter base of 20,000 the money that they have now knocked is in excess of £8,000 per fan. That would be enough to provide a free season ticket for our 11,000 season ticket holders for over 36 years - and I'm assuming an average price of £400 and I suspect that it's less than that.
If this latest plan doesn't work and the Council have advanced that money and they fail and the club is wound up and/or expelled from the league I suppose that parachute money will never be received, and never paid back to the Council.
Talk about buying votes!
Disgraceful!
Lets knock down Fratton Park and build a hospital , shall we.
This is our heritage as a nation= not to be destroyed by some cnuts who have come here and run off with their ill=gotten dosh.
Yeah, its not right, but i think its our heritage - and i think that Amazon and Google and Starbucks have a lot more to answer than Portsmouth Fc , or Portsmouth Fans Trust or Portsmouth Council. Go chase the likes of Gaydamak, Mandaric,Chainrai, and any other foreigner who has no real interest in OUR heritage other than to rape and pillage.
I have a Pompey supporting wife and step daughter and they know my thoughts on their club.They and their fellow fans enjoyed the fruits of their ill gotten gains and are paying the price. I was a Portsmouth City Council payer until 2006 so hopefully they have spent all my payments. I would be rather peeved if I was still paying it today. Let them be a phoenix club and start again.
On another tact here in Chesterfield the Football Club are asking the council to write off a £1M loan they made to the club when they moved to the new ground, needless to say they have refused as local Council Tax payers - including me- are not having any of it.
Yes, let them be a phoenix (and thats all that Pompey fans expect btw), but to decide to exterminate the club just because of scandalous previous owners aint right.
Much as it pains me to say but in the interests of fairness to the competition, Portsmouth FC should not have any further stays of execution.
They basically need to play out the season - if they can - and be liquidated and start again from the bottom and work their way back.
They cannot seriously expect the local council and others to bail them out of a multi-million pound mess.
I remember back in their salad days of 2007/08 with Defoe, Campbell, Muntari et al thinking "How the hell are they affording these players?"
They were getting smaller gates than us AND much lower commercial revenues too as their facilties were shite.
They were doing it by living 'on the hock' that's how!
This was all done with someone else's money. There comes a point when the rest of the world (and I'm really talking about those that don't care for football) refuse to continue to bankroll a business that is taking the pee. It is tax payers money that is being lost and/or used to fund it.
Go out into the main high street in Portsmouth and find someone who had a relative that has just died of something that was treatable but treatment was refused because tough choices need to be made with the limited amount of money available and ask them if they think another £1.45m of money that could have saved their loved one should be used to bankroll a football club that has already failed to repay over £100m they they borrowed.
Keep blaming the foreign owners all day long it won't change the fact that the club paid players a fortune then was unable to pay the income tax and national insurance on those wages. Money that belongs to us - the tax payers.
I think it would have been more credible if they hadn't agreed to come out of hat administration then went on to sign another load of players and spent another £60m that they are now expecting the creditors to write off.
Unless all of the debt is totally written off, and while we're at it the season ticket holders would have to fork out again, there is almost no way the Supporters Trust can bankroll the club in the fourth division with the cost of maintaining a knackered ground.
The club were never, ever going to be able to honour the agreement they made to waive the majority of the £150m. There is also little chance of the new structure (unless the council rebuild the ground and/or waive the rates) can keep its head above water. Where is the £3m going to come from to buy the ground?
If the fans really can raise £5m why didn't they do so two years ago when small business owners were losing their homes because the club owed them so much money.
The ultimate question is just how much money is it going to take and where is it going to come from?
My point is that they have no long term plan, they just keep getting a further stay of execution after another one. If they'd been wound up three years ago the £60 they are now about to fail to repay would never have been spent.
I, personally, think that's too much money for what is essentially a hobby for a minority.
Hope I am wrong and the trust does run Pompey at break-even. But they wont rise above Div 4 if that happens.