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Portsmouth still in a mess
Posted: 13 Sep 2013, 08:54
by Behind-the-Gulls
This run-down of the money still owed to former players by Pompey must seriously call into question their aim of climbing back up the leagues in the foreseeable future.
I understand they are still due to receive "parachute payments" from their time in the Premier/Championship-but these liabilities are massive and will surely undermine the ambitions of the now 100% fan-owned club?
http://www.portsmouth.co.uk/sport/pompe ... -1-5468027
Portsmouth still in a mess
Posted: 13 Sep 2013, 11:25
by ferrarilover
How must Kitson's teammates feel, knowing that he's on 11 grand a month plus salary plus bonus? He turns up for training every day in a range of Ferraris and Range Rovers and they're pitching up in 12 year old Citroëns.
Pompey are a brilliantly well supported club (sorry Dave), but I think the pre-season talk of pissing the league (although, most of that seemed to come from outside Portsmouth) is well wide of the mark.
Matt.
Portsmouth still in a mess
Posted: 13 Sep 2013, 12:41
by leetufc
Some of the money there is staggering, and I think it just shows how badly run the club was that these players were offered those amounts in the first place.
Not sure how Pompey are managing to stay out of trouble with all those repayments due - they paid out 1.4 million on August 30th alone according to that article.
I wonder how all the businesses and local people who went bust, or will get nothing of what they're owed, will feel if they read that article.
Portsmouth still in a mess
Posted: 13 Sep 2013, 13:27
by happytorq
..and this is the reason that the ridiculous 'football creditors' rule has to go.
Portsmouth still in a mess
Posted: 13 Sep 2013, 17:46
by cambgull
Wow, they have to pay out over 130,000 a month just on wages to mostly ex-players. At least they're paying it though, rather than just going into administration and getting it all written off.
Re: Portsmouth still in a mess
Posted: 13 Sep 2013, 19:32
by happytorq
cambgull wrote:Wow, they have to pay out over 130,000 a month just on wages to mostly ex-players. At least they're paying it though, rather than just going into administration and getting it all written off.
except the football creditors rule means that they can't do that. Even in administration/insolvency, a football club has to pay 'football debts' - to other clubs or to players - in full before anything else is paid to other creditors.
Which is why it's a bloody stupid rule. Players and other clubs should do their own diligence about who they're selling to, or signing a contract with.
Re: Portsmouth still in a mess
Posted: 14 Sep 2013, 08:43
by Robiberto22
THIS WILL NOT PLEASE JOHN PORTSMOUTH FOOTBALL CLUB WESTWOOD!!!
kinda hope they dont go up, i want us to pay em every year cant wait to go fratton park!