If Pompey go out of business.......

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Expand view Topic review: If Pompey go out of business.......

Re: If Pompey go out of business.......

by Glostergull » 04 May 2012, 22:47

Awayday wrote:What ever happens they will go bust after the playoffs, the decision will be made in June / July.

In short due to a clause in the contract the bloke who invested £15m into the club at the begining of the season got automatic ownership if his repayments were not made. The then owner missed the first payment, therefore the invester got a club he didn't want. Due to the FA rules on investment, he is guaranteed his £15m whilst the club still exists. It is now a case of whether he is willing to lose £15m and close the club down, or he buys the club to secure his investement, but will have to spend £50m to save £15m or another buyer comes in and takes over the repayments.

Fratton park can only be used for football, so even if the club goes, AFC Pompey will still get to use Fratton Park. Under police advice they will start in the division below BSP South (they are concerned with the number of travelling fans going to very small clubs). There is already a Pompey Fans consortium aligned as a contingency who are almost hoping it does go, because they think it would better to start with £0 and build the team and club up to Premiership again but with sensible owners. They do blame the FA though for the mess and letting the wrong owners but the club 10 years ago.
I think you will find that although he maybe gauranteed his loan it will only be paid out once the HMRC are paid off and possibly banks depending on who signed which contract first. If there were bank loans in place before he invested they would be ahead of him but behind the HMRC.

Re: If Pompey go out of business.......

by Glostergull » 04 May 2012, 22:43

Southampton Gull wrote:
They'll merge with Havant & Waterlooville and become AFC Portaloo if you don't mind. ;-)
To coin a phrase "I nearly peed myself laughing". :rofl:

Re: If Pompey go out of business.......

by stratfordgull » 03 May 2012, 21:29

Coventry are sailing pretty close too. They are just about to fail to pay their rent to the ground owners and are around 45 million quid in debt with no sign of income to match their running costs so they may be in the queue behind Pompey......

Re: If Pompey go out of business.......

by cambgull » 03 May 2012, 17:52

Awayday wrote: I cannot find it on the net, but there is more to it. When they were a Premiership outfit, and went into administration, both the FA and the Premiership contributed money into the club to save them, rather than face the fall out of a Premiership club going bust. It would also look bad on the FA as they allowed the dodgey owner to take over the club in the first place.

I would be suprised if they did go bust other wise it would have happened ages ago, there seems to be a lot more to this scenario that the public are not being told about.
Naturally, there will be things going on at every club that not even the closest will know about. It'll never leave the Board of Directors, probably not even on paper. The only information that ever leaves most football clubs and businesses in general is information that the club want people to hear. In a time when a club might go bust, there will be even more secrets which will never reach fan's ears.

Re: If Pompey go out of business.......

by Awayday » 03 May 2012, 15:52

cambgull wrote:It is proof that the FA really needs to step in and properly investigate people who buy football clubs. Hopefully we'll see many more fans consortiums buying clubs from now on. They tend to run their clubs more sensibly and aren't after a short term success but the long term stability of the club.
I cannot find it on the net, but there is more to it. When they were a Premiership outfit, and went into administration, both the FA and the Premiership contributed money into the club to save them, rather than face the fall out of a Premiership club going bust. It would also look bad on the FA as they allowed the dodgey owner to take over the club in the first place.

I would be suprised if they did go bust other wise it would have happened ages ago, there seems to be a lot more to this scenario that the public are not being told about.

Re: If Pompey go out of business.......

by Bigman » 03 May 2012, 15:49

Blimey that's confusing! There's also an element of ambiguity about whether they mean the last play off match for the whole football league or just the division they are currently in. I assume they mean the latter, but if these are the official rules word for word then I can see Coventry and Wycombe/Chesterfield/Scumbags enlisting some lawyers if Pompey go bust in the intervening week.

Re: If Pompey go out of business.......

by diamondgirl » 03 May 2012, 14:23

Southampton Gull wrote:
They'll merge with Havant & Waterlooville and become AFC Portaloo if you don't mind. ;-)
:rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl:

Re: If Pompey go out of business.......

by cambgull » 03 May 2012, 12:50

It is proof that the FA really needs to step in and properly investigate people who buy football clubs. Hopefully we'll see many more fans consortiums buying clubs from now on. They tend to run their clubs more sensibly and aren't after a short term success but the long term stability of the club.

Re: If Pompey go out of business.......

by Awayday » 03 May 2012, 12:27

What ever happens they will go bust after the playoffs, the decision will be made in June / July.

In short due to a clause in the contract the bloke who invested £15m into the club at the begining of the season got automatic ownership if his repayments were not made. The then owner missed the first payment, therefore the invester got a club he didn't want. Due to the FA rules on investment, he is guaranteed his £15m whilst the club still exists. It is now a case of whether he is willing to lose £15m and close the club down, or he buys the club to secure his investement, but will have to spend £50m to save £15m or another buyer comes in and takes over the repayments.

Fratton park can only be used for football, so even if the club goes, AFC Pompey will still get to use Fratton Park. Under police advice they will start in the division below BSP South (they are concerned with the number of travelling fans going to very small clubs). There is already a Pompey Fans consortium aligned as a contingency who are almost hoping it does go, because they think it would better to start with £0 and build the team and club up to Premiership again but with sensible owners. They do blame the FA though for the mess and letting the wrong owners but the club 10 years ago.

Re: If Pompey go out of business.......

by oldpedant » 03 May 2012, 11:17

forevertufc wrote:Before the season is not officaly over so it would save Coventry, after the season is over so it would save who ever finish's 4th bottom in league 1.
I'm not sure that would work. If Coventry are reprieved and three teams get promoted, then the Championship would have one too many teams.

As Portsmouth had been relegated, I think that the changes to relegation numbers would happen in League 1, despite what the rules say.

Re: If Pompey go out of business.......

by bixieupnorth » 03 May 2012, 09:25

oh i see, i hadnt read that properly at all!

Re: If Pompey go out of business.......

by Dave » 03 May 2012, 09:05

bixieupnorth wrote:if, as the above states, that pompeys playing record is expunged then it could have huge implications on the final league table, southampton or reading may well have taken a crucial number of points off them, therefore teams that have been promoted or relegated could be kept down or up

expect theres a table without pompeys results somewhere?
That won't happen now Bix, the final Championship games have been played so Portsmouth league record will stand regardless, the important bit now is whether they went bust before or after the play-off final.

Before the season is not officaly over so it would save Coventry, after the season is over so it would save who ever finish's 4th bottom in league 1.

Re: If Pompey go out of business.......

by bixieupnorth » 03 May 2012, 08:45

found one as of 3rd march

http://www.telegraph.co.uk/sport/footba ... unged.html" onclick="window.open(this.href);return false;

Re: If Pompey go out of business.......

by SDYellow » 03 May 2012, 08:44

Another scenario, If Portsmouth go bust after the play offs, and Exeter win their final game. Wycombe lose and Chesterfield draw or lose. Then.... Well I hate to say it but sh*tty stay in League 1.
Makes some games even more important this Saturday.
Never thought id say it but for Saturday only im a fan of Sheff Utd

Re: If Pompey go out of business.......

by bixieupnorth » 03 May 2012, 08:44

if, as the above states, that pompeys playing record is expunged then it could have huge implications on the final league table, southampton or reading may well have taken a crucial number of points off them, therefore teams that have been promoted or relegated could be kept down or up

expect theres a table without pompeys results somewhere?

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