How many would be relegated though? I presume its just the two.

 

 

yes

Its a difficult one, them lads respect BWFC, we are in a difficult position. When it comes to respect i want them to survive i really do, when it comes to us im sorry but we come first. Id rather anyone bar us and Pompey go down Im pissed by the way but respect Pompey 100%

 

Geoff I agree 100%, in fact I always look out for Pompey's results, I was chuffed to bits when they beat the scummers in the cup the other week

pompey have announced if theyre not taken over by friday theyre going into admin

While having every sympathy with Pompey's fans, the club have already cheated this season as things stand.

They've used money they don't have to keep the squad strong (by not selling last summer and January) and even signed players in January to strengthen further.

And why should they be advanced future monies ? Couldn't clubs like us have made good use of future monies in January ?

It all makes a complete joke of the 'fit & proper persons' test for club owners, and there are lots more examples around the various leagues.

 

no, it doesn't

 

as gartside explained, these are limited companies who can be bought and sold on the free market

 

the only controls on the purchase of football clubs are those in place in any other 'industry'

 

pretty much if you've no financial convictions, away you go

 

theres nowt else football can do

pompey have announced if theyre not taken over by friday theyre going into admin

 

Kerching

Utaka is on around 30k per week so he already earns less than 40k per week

not much if you say it fast

if they go into admin do they still have to pay the tax man or go bust?

if they do go bust could the f.a not deduct points from teams

who have played pompey twice from there 2nd game and leave

all results from all first matches to stand

if they do go bust could the f.a not deduct points from teams

who have played pompey twice from there 2nd game and leave

all results from all first matches to stand

 

unfair on teams that have only played them away

unfair on teams that have only played them away

we have only played them away and i can't see us complaining

Let them get into admin, deduct the points, then let the Premier League bail them out until the end of the season

 

Woo Hoo

no, it doesn't

 

as gartside explained, these are limited companies who can be bought and sold on the free market

 

the only controls on the purchase of football clubs are those in place in any other 'industry'

 

pretty much if you've no financial convictions, away you go

 

theres nowt else football can do

 

In that case the FA & Prem League shouldn't pretend otherwise and we fans should waken up to the fact once and for all that we don't really matter to anyone in power in football ...... except as background colour and TV subscriptions.

Or is that too cynical ?

In that case the FA & Prem League shouldn't pretend otherwise and we fans should waken up to the fact once and for all that we don't really matter to anyone in power in football ...... except as background colour and TV subscriptions.

Or is that too cynical ?

 

Nope

Let them get into admin, deduct the points, then let the Premier League bail them out until the end of the season

 

Woo Hoo

 

It was on the news the other night with some liquidator/administrator type who was saying if they are so heavily in debt that they are essentially insolvent, then administration may not be appropriate and they would be put straight into liquidation by the courts.

It was on the news the other night with some liquidator/administrator type who was saying if they are so heavily in debt that they are essentially insolvent, then administration may not be appropriate and they would be put straight into liquidation by the courts.

To enter a Voluntary Administration the majority of creditors have to agree to what they will receive. Due to the ridiculous football creditors rule other clubs and players owed money get first dibs, so are likely to agree. Downside being the tax man (i.e. our money) and small businesses will be lucky to see 10p in the pound.

the FA said they wont be helping pompey out

To enter a Voluntary Administration the majority of creditors have to agree to what they will receive. Due to the ridiculous football creditors rule other clubs and players owed money get first dibs, so are likely to agree. Downside being the tax man (i.e. our money) and small businesses will be lucky to see 10p in the pound.

 

who decide on this 'football creditors' first shit?

 

must be a government approved thing?

who decide on this 'football creditors' first shit?

 

must be a government approved thing?

 

 

Employees who are owed money by the company are preferred creditors footballers are employees and therefore get their money before others.

 

Government rules, if you think the tax man wil then get income from people being paid it makes sense.

 

In fact if it was nt footballers it would make sense.

so in so much as the employees get fisrt dibs its like any other industry

 

what about other clubs getting paid before the tax man?

Edited February 24, 201016 yr by Casino

so in so much as the employees get fisrt dibs its like any other industry

 

what about other clubs getting paid before the tax man?

 

Joe the plumber buys some supplies from Daves Pipe co. and pays in installments

 

Joe goes out of business and dave is out of pocket he gets any money before the tax man does

so in so much as the employees get fisrt dibs its like any other industry

 

what about other clubs getting paid before the tax man?

 

 

suppose it will all be about protecting the other clubs, so if popmpey go bust owing bolton ?5m and we do nt get the money then we might go bust etc etc. (if it was nt multi million pound football clubs again would make more sense)

 

the tax man is better to keep all these companies going and get income from each.

 

at one time (i think) the tax man was a prefferred creditor so companies much more likely to be allowed to continue to trade, i think this change in the rules is why the tax man is less flexible

suppose it will all be about protecting the other clubs, so if popmpey go bust owing bolton ?5m and we do nt get the money then we might go bust etc etc. (if it was nt multi million pound football clubs again would make more sense)

 

the tax man is better to keep all these companies going and get income from each.

 

at one time (i think) the tax man was a prefferred creditor so companies much more likely to be allowed to continue to trade, i think this change in the rules is why the tax man is less flexible

 

 

correct.

 

IR have to get in line now, like every other creditor.

 

which is why they dont really want to wind pompey up

 

but with total debts of 70m, and IR owed 10m, surely the are in the top section, so they will get some cash, although nohwere near the full amount.

 

all the little debts will disappear.

 

as i understand it anyway.

Edited February 24, 201016 yr by HomerJay

Article about preferred creditors

 

http://www.guardian.co.uk/football/david-conn-inside-sport-blog/2010/feb/10/portsmouth-cardiff-hmrc-winding-up

 

Since 2002, when ITV Digital's collapse helped push 10 clubs over the edge, an estimated ?200m due to creditors has been left unpaid, including sums owed to the police, local ?councils, hospitals, universities and other public bodies, a Yellow Pages-worth of small businesses and, most unforgivably, St John Ambulance.

 

The charity does not charge to tend sick and injured fans at matches, but asks only for expenses, for supplying ?bandages, equipment, an ambulance if needed. Clubs overspending on players' wages in the push for success have let St John's bill fall into arrears with all the others; ?Darlington's ?9,040.79, in 2003, was the largest amount left unpaid.

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8527495.stm

 

"There'll always be a Portsmouth FC, whatever happens. A lot of work has gone on behind the scenes to make sure that a phoenix would rise from the ashes in time for next season."

 

you cant say that shirley!

This article answers many of the points raised above in a fairly easy to understand sort of way.

 

http://www.bbc.co.uk/blogs/mattslater/2010/02/portsmouth_fc_in_crisis_qa.html