| Portsmouth FC 16:13 - Jul 12 with 5076 views | E17hoop |
Apparently the Football League says they can start in L1 but will have to accept 10pt penalty & must pay football creditors in full - another relegation? |  |
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| Portsmouth FC on 17:30 - Jul 12 with 1212 views | Juzzie |
| Portsmouth FC on 17:26 - Jul 12 by TGRRRSSS |
Some symp[athy but as usual the footballer creditor rule is a joke, why should Kitson be guranteed his couple of mill salary being backpaid (or whatever it is) whilst some local business goes under cos they can't get say £20K, thats fundementally wrong, and the government need to change the law on this, football is wrong on this point.
I see in part why there law is there but it needs changing somewhere. |
I think Gordon Taylor would get in a right tiss about that.
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| Portsmouth FC on 17:33 - Jul 12 with 1204 views | TGRRRSSS |
Your probably right but in times like we have now I think they need to do it when public sympathy will not be will multi millionaire players |  | | |
| Portsmouth FC on 17:36 - Jul 12 with 1202 views | Monahoop |
| Portsmouth FC on 16:29 - Jul 12 by derbyhoop |
Appleton, the manager, was saying they only had 8 players for start of training. And he expected most of those to be sold before the season started. Nor can he sign any players to supplement/replace those.
They could be starting with a virtual Youth team and a 10 point penalty. To all intents and purposes they are bust. |
.......or dead certs for the drop to League 2. Got to feel for them somehow. For as long as I can remember or since I have been following football, Pompey have never been a well run club. So many crooks have come and gone from that place, makes some of our owners look honest. The Mandaric/Redknapp era was in particular a recipe for disaster. Wouldn't let either of those two anywhere near our club. |  |
| There aint half been some clever bastards. |
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| Portsmouth FC on 17:49 - Jul 12 with 1182 views | Aunt_Nelly |
Why should I feel sorry for those c@nts?
They had a great run, won the cup and still have a football club even though they knocked everyone they owed.
They've had a right touch.
[Post edited 1 Jan 1970 1:00]
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| Portsmouth FC on 18:04 - Jul 12 with 1163 views | TacticalR |
A couple of points.
1) I am not sure that even the high player wages and transfer fees explain the vastness of the debts at Portsmouth. The scam of not paying tax on player's wages is fairly obvious at Glasgow Rangers, and took place over 20 years, but what's happened at Portsmouth seems much more murky. The Portsmouth debts are over £100m, even though nothing has been spent on infrastructure, and £80m worth of players were sold towards the end of Gaydamak's tenure (as Scoble points out in the comments section on this article:).
http://www.guardian.co.uk/football/david-conn-inside-sport-blog/2012/mar/01/port
2) Portsmouth have had numerous owners, and this has left a complex legacy of interconnected debts. It seems that even after all these administrations, then the remaining assets of the club never seem to belong to the club and the supporters, but always to some previous or current owner. In other words the fans & the club pay for the mistakes of the previous and current owners, but effectively still owe money to the people who made those mistakes. There is never a clean slate, even though there is nothing left. [Post edited 1 Jan 1970 1:00]
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| Portsmouth FC on 18:14 - Jul 12 with 1144 views | Trance_Trousers |
Jamie.
Not a dig of any sorts.But how do you know what players earn ?, it`s not the first time i`ve seen you post regarding this matter. |  |
| Once you`ve had black you never go back......... |
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| Portsmouth FC on 18:15 - Jul 12 with 1142 views | Cogster |
Pompy are up there on on my hate list (long story), but I'd still like them around to hate. Like others have said, looks terminal.
Fit and proper owners eh?
One thing that did strike me about all this in relation to business, is auditing.
I work in cosmetics/pharmaceuticals, we get audited all the bloody time by Internal, corporate, HSE, FDA, MHRA blah blah...
Tis the same I know in many many industries, yet why does the FA/Prem as the supposed "responsible" regulatory body never enforce auditing? If a club looks iffy (aka pompy) force them into an auditing programme?
Might have a better chance of picking the rot up early? [Post edited 1 Jan 1970 1:00]
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| Portsmouth FC on 18:19 - Jul 12 with 1134 views | Juzzie |
| Portsmouth FC on 17:33 - Jul 12 by TGRRRSSS |
Your probably right but in times like we have now I think they need to do it when public sympathy will not be will multi millionaire players |
I agree. Even when times are good I can't see any reason why players should be on those kind of weekly salaries for kicking a bit of leather around.
Those guys are utter mercanies and probably don't care if they take Portsmouth down as the three of them alone are bleeding the club of £75,000 a week.
Money that could get 15 players on a 'mere' £5,000 a week each.
[Post edited 1 Jan 1970 1:00]
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| Portsmouth FC on 18:23 - Jul 12 with 1125 views | hoopstilidie |
It disgusts me that they are still operating when clubs such as Scarborough etc etc have disappeared owing a pittance in comparison. |  |
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| Portsmouth FC on 19:11 - Jul 12 with 1064 views | Trance_Trousers |
Nice one. | |
| Once you`ve had black you never go back......... |
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| Portsmouth FC on 19:16 - Jul 12 with 1059 views | Hayesender |
Surely the best option for all involved is to just let the club die and some form of Portsmouth fc to start up again at the bottom |  |
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| Portsmouth FC on 23:06 - Jul 12 with 984 views | kensalriser |
And when people ask questions about how our current spending spree is being financed and who carries the can if it all goes tits up, they get shouted down for being ungrateful and miserable. |  |
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| Portsmouth FC on 01:19 - Jul 13 with 945 views | GetMeRangers |
| Portsmouth FC on 23:06 - Jul 12 by kensalriser |
And when people ask questions about how our current spending spree is being financed and who carries the can if it all goes tits up, they get shouted down for being ungrateful and miserable. |
Partly because of the statements made by Amit and Tony.... debt -free. Most choose to believe them...We may all be a bit naive, as we appear to have the most open, friendly and generous owners who also appear to have taken a wee club to heart. They are always re-iterating that this is being run as a business (hence bigger stadium, Park - maybe - all red away shirt, Philip Beard, of O2 fame).
I tend to agree that it looks too good to be true... we are QPR and things like this dont happen... except they do! My first season was the relegation 78-79. Home grown talent like Allen and Goddard emerged, then the rollercoaster of a being a Rangers fan went into overdrive when El Tel arrived, plastic pitches cup finals, europe, londons top side, sir les and a whole host of Hooped players playing at international level... Pinched myself then and doing again so now.
Be miserable, but concede to the rest of us, that we can dream in case it is true. (Just hope that it is only Scum who implode) |  | | |
| Portsmouth FC on 02:40 - Jul 13 with 929 views | SonofNorfolt |
Lest we forget, Pompey were controlled by Messrs Redknapp and Storrie amongst others, do you really need a diagram? |  | | |
| Portsmouth FC on 09:41 - Jul 13 with 900 views | nadera78 |
| Portsmouth FC on 23:06 - Jul 12 by kensalriser |
And when people ask questions about how our current spending spree is being financed and who carries the can if it all goes tits up, they get shouted down for being ungrateful and miserable. |
There's a difference though - our debts have been way out of control for 15 years. When we took the ABC Loan we were never going to be able to repay it. When Briatore took over we were about 14million in debt, by the time he left last year it was over 40million, they'll be even higher now. The only asset we ever had was Loftus Rd (that was last valued at 20million) but even that no longer belongs to us.
There is no way we could ever repay the debts we have accumulated, absolutely no way, so Fernandes, Bhatia, etc will have to either write the debts off or sell the club. But then the new owner would have to write them off. There's just no way QPR can repay 50/60million quid.
So why worry about it? |  | | |
| Portsmouth FC on 09:49 - Jul 13 with 894 views | Jamie |
| Portsmouth FC on 02:40 - Jul 13 by SonofNorfolt |
Lest we forget, Pompey were controlled by Messrs Redknapp and Storrie amongst others, do you really need a diagram? |
Quite. I've always found it strange that people desperately try and absolve Redknapp of any culpability in what happened at Pompey. Clearly he is not an intelligent man. But you do not need an Economics degree to know that a club playing infront of 18,000 people whilst spending the best part of £50m on transfer fees and paying players like Utaka £80k/week is living beyond its means. | | | |
| Portsmouth FC on 11:35 - Jul 13 with 866 views | TW_R |
Apparently Kanu is looking to sue them for 6 seasons of unpaid wages!! |  | | |
| Portsmouth FC on 12:41 - Jul 13 with 836 views | Ozhoop |
| Portsmouth FC on 17:26 - Jul 12 by Jamie |
I believe it's 20 & 19 respectively.
Ben Haim as well on £36k and happy to see out his contract. |
How much is Kanu on?
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| Portsmouth FC on 12:56 - Jul 13 with 826 views | wombat |
| Portsmouth FC on 12:41 - Jul 13 by Ozhoop |
How much is Kanu on?
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papaers say hes on 300k a year which seems a low even by championship standards |  |
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| Portsmouth FC on 13:51 - Jul 13 with 793 views | TacticalR |
Isn't the only difference between Portsmouth and Man City that Man City's sugar daddy actually had some sugar? | |
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| Portsmouth FC on 16:21 - Jul 13 with 771 views | TGRRRSSS |
People blame it continually on Storrie and Mandaric and Redknapp, how about Gaydamark, he seems the one who deliberately came in took what he wanted and destoryed the club in it's entirety, but people seem more interested in the others.
Redknapp was manager not owner of the club, did he make a fortune yeah probably but he was still an employee.
I'd focus firstly on Gaydamark then go from there. | | | |
| Portsmouth FC on 16:51 - Jul 13 with 751 views | Jamie |
| Portsmouth FC on 16:21 - Jul 13 by TGRRRSSS |
People blame it continually on Storrie and Mandaric and Redknapp, how about Gaydamark, he seems the one who deliberately came in took what he wanted and destoryed the club in it's entirety, but people seem more interested in the others.
Redknapp was manager not owner of the club, did he make a fortune yeah probably but he was still an employee.
I'd focus firstly on Gaydamark then go from there. |
Gaydamak came in, put up an absolute fortune to win an FA Cup, got bored and sold it for £1 to Suleiman al-Fahim, the worlds only poor Emirati. He in turn 'sold' it on to "Ali al-Faraj" who it is widely believed doesn't exist who in turn 'sold' it to Balram Chanrai who instigated administration.
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| Portsmouth FC on 17:03 - Jul 13 with 737 views | TGRRRSSS |
| Portsmouth FC on 16:51 - Jul 13 by Jamie |
Gaydamak came in, put up an absolute fortune to win an FA Cup, got bored and sold it for £1 to Suleiman al-Fahim, the worlds only poor Emirati. He in turn 'sold' it on to "Ali al-Faraj" who it is widely believed doesn't exist who in turn 'sold' it to Balram Chanrai who instigated administration.
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Gaydamark loaned the club money where did all the money for all those players he sold go to? Also took all the land around the ground for himself (asset stripped) then left demanding millions.
I couldn'#t remember Al Fahim's name, but Ali Al Faraj was a weird one.
The real mess began when Gaydamark took over as far as I can see. | | | |
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