[Archived] Time Up Pompey?

[broadsword]

Exactly right. Hey..... We could add that to the list of biggest all time gaffes of the Prem Division. It'd be right up there in second place, but absolutely miles behind sticking with the team that won the Prem and missing out on Zidane and Dugarry for a paltry 9m that would have turned into £50m+ within 12/18 months.

If you wanna make omelettes, you gotta break eggs!

[Stuart]

It's all gone a bit quiet on the Pompey front. Isn't today D-Day Part 2?

[only2garners]

It's all gone a bit quiet on the Pompey front. Isn't today D-Day Part 2?

It's either today or tomorrow they have to provide further evidence to the court but the hearing is not for a couple of weeks from now.

[PAFELL]

It's all gone a bit quiet on the Pompey front. Isn't today D-Day Part 2?

I thought they had until march to prove they could continue etc.

[philipl]

It is today.

I hadn't appreciated that the financial report is being prepared by a Court appointed accountant which is seriously bad news for Pompey; no chance to window dress.

[ada2020]

It is today.

I hadn't appreciated that the financial report is being prepared by a Court appointed accountant which is seriously bad news for Pompey; no chance to window dress.

You seem clued up on this stuff Philip, is it to late for Pompey to go into administrattion now? I get the impression that if they go back into court then its most likely they will be shut down?

[Earlydoors]

Ha ha ha...its better than any soap opera

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8519941.stm

[Hughesy]

You seem clued up on this stuff Philip, is it to late for Pompey to go into administrattion now? I get the impression that if they go back into court then its most likely they will be shut down?

Today is simply for the statement of their accounts to be taken to the courts.

They had their deadline extended to March wasnt it?! They will find some dodgy buyer no doubt....or perhaps their fans will buy them out!?

[philipl]

The report on Pompey's state of affairs was delivered by the deadline and the adjourned winding up petition is due to be heard on 1 March.

I would be very surprised if the report is anything but very dire. Pompey are probably gambling on a new change of ownership and/or the report of Vantis (the Court-appointed accountants) agreeing with their contention that the VAT is not owed. My guess is both those outcomes are unlikely and that the risk the club could be wound up on 1 March is increasing- not just put into liquidation. They are 8 points from safety now- if that margin increases then the Court could assess there is no way there could ever be a rescue of a Championship club with the debt baggage Pompey are carrying and just pull the plug on the whole thing.

[SIMON GARNERS 194]

''The Fratton Park club are also being sued by former defender Sol Campbell for £1.7m for unpaid image rights.''

'Image rights'?? knowing what perilous a state Pompey are in Campbell you want to be ashamed of yourself.Instead of thinking of numero uno(no doubt a multi- millionaire) how about Pompey and their suffering fans.

[mellison24]

''The Fratton Park club are also being sued by former defender Sol Campbell for £1.7m for unpaid image rights.''

'Image rights'?? knowing what perilous a state Pompey are in Campbell you want to be ashamed of yourself.Instead of thinking of numero uno(no doubt a multi- millionaire) how about Pompey and their suffering fans.

So would you not try and get money you are owed? I'd only disagree with Cambpells actions if he's just being an arse. But wanting money that is rightfully yours, I have no issue with.

[gumboots]

So would you not try and get money you are owed? I'd only disagree with Cambpells actions if he's just being an arse. But wanting money that is rightfully yours, I have no issue with.

me neither. If they have no cash he's unlikely to get it anyway even if a court finds in his favour, but he's perfectly within his rights to try to claim what they contracted to give him.

[SIMON GARNERS 194]

So would you not try and get money you are owed? I'd only disagree with Cambpells actions if he's just being an arse. But wanting money that is rightfully yours, I have no issue with.

The timing of his action is appalling.I stand by what I say.

[CrazyIvan]

The timing of his action is appalling.I stand by what I say.

To be fair to Campbell, his lawyers started the action a fairly long time before Pompey were in this state.

[philipl]

Pompey chose to buy his image rights. In effect the club decided to market the player themselves and take the cash from the chip wrappers and roller skates they plastered his ugly mug over (or whatever). If they hadn't done that, Campbell and his people would have got the advertising, endorsements and appearance engagements and income themselves so it is a perfectly legitimate claim that Pompey volunteered for and cheerfully signed up to pay for.

It is a fairly normal practise- Ronaldo's £11.3m a year at Real includes Madrid paying for his image rights.

And as Crazy Ivan has pointed out, the law case over the non-payment was started some time ago and somewhat reluctantly at that but image rights don't seem to be protected as a football debt so Campbell has to fight to protect his position on this one.

[bellamy11]

The timing of his action is appalling.I stand by what I say.

He's been asking for this money for ages. They owe it to him. It isn't a small amount of money for him to just ignore it. What's the problem? If my company owed me money and was going bankrupt I'd bloody well ask for it.

[BuckyRover]

I agree. Totally just

[Seggie]

Im not Sol Campbells biggest fan but the only people to blame are the people who ran/run Portsmouth Football Club, not Sol Campbell. Fair enough the timing is wrong but why not ask for money owed to himself, if they couldn't afford it they should not of offered it to him.

[thenodrog]

The timing of his action is appalling.I stand by what I say.

It's a harsh world but just you think of it as a stand alone business and not a football club and you must see that Campbells team are right to go for what is owing. Only sentimentality could make you think otherwise..... and sentimentality never paid any bills.

[Hughesy]

Leading Premier League officials were locked in talks about how to help Pompey last night. It would be a nightmare if they went bust and failed to fulfil their fixtures, but that will happen if there is not a rescue package in place.

Crisis club Portsmouth will ask the Premier League to let them sell some of their players now - despite the transfer window having closed - in a bid to pay their bills. Pompey are understood to have debts of around £60m and last week survived a winding-up order by providing the High Court with a detailed statement of their finances.

Full story: Daily Mirror

[modes98]

Even if they get it who are they going to sell that is going to get them out of this hole?

Belhadj, James and now I'm struggling to think of anyone who will get them £1m.

[Hughesy]

From the article....

Pompey want summit talks with Premier officials to see if they will be allowed to find buyers for Algeria World Cup star Nadir Belhadj, midfielder Kevin Prince Boateng and young defender Mark Wilson.

Looking at that list of 'stars' they really do need to go down, and just start again! They have no assets and they are in massive debts!

[philipl]

The nico article Hughesy is referring to.

This is getting into pigs might fly territory- as Nico puts his finger on the situation:

Only Wilson, Belhadj and Boateng are saleable but even if the PL allow a dispensation and they are sold for cash now, they could not play for another club under UEFA rules and Belhadj and Boateng would be massively unhappy with that as there is a World Cup coming up.

This idea and/or the early parachute payment would need 14 PL clubs to vote for it and it is not hard to find seven clubs whose self-interest would be served by Pompey being docked ten points.

All Pompey's other players are too old and too highly paid to attract any interest in the transfer market.

That latter point could be a killer if the Court is deciding between administration and a winding up order on 1 March which would seem likely to be the case. As an outsider, I have to say that the way Pompey's management have handled this situation has been recklessly risky- they should have made the sales they needed to make in the January window and in the case of Belhadj and Boateng done pre-contract sale agreements in December ahead of the ACN.

It would appear that even if the PL approves sales now, sale and loan back deals are the only option for Belhadj and Boateng which because of the risk of injury etc before they joined new clubs and the fact that potential PL club buyers do not yet know the size of their transfer kitties means they will go for a massive discount to their potential market value not helping Pompey stave off collapse anyway.

There might be a bit of an opportunity here for Rovers in the unlikely event Pompey get dispensation to sell.

[modes98]

Boateng can't move again unless they ignore even more world transfer rules.

Wilson is a poor player but they probably could get a £1m for him.

O'Hara is the best player they have IMO and he is a spurs player

[Paul]

Is anyone else unhappy with this talk of rescue packages. Portsmouth have already enjoyed, and are no asking for an even greater, unfair advantage of the rest of the PL's lower teams. Let them burn.