Loderingo Posted February 10, 2010 Report Share Posted February 10, 2010 Not seen this anywhere else but the 3 clubs above all faced winding up orders today due to unpaid taxes (you think we've got problems!) Pompey got a week's reprieve the other 2 got one more month. Pompey apparently owe 60 million overall and definitely owe 11 million to the Inland Revenue. They got the reprieve because some people may be interested in taking them over but I find this hard to believe. Who is going to want to pay 60 million for a (soon-to-be) Championship club when you could buy Palace, for example, for much less. I think Pompey are doomed to be wound up (unless they manage to go into administration somehow) Cardiff are also in a lot of trouble but have managed to pay off 1 million out of 2.7 million owed to HMRC already and have managed to get the council to allow them to sell some land worth about 1.8 million to help pay off the debt. The problem they have is they seem to have already spent next year's season ticket money and have also started paying back 15 million to Langston (connected to Sam Hammam) in £250,000 installments. They are also allegedly paying Peter Ridsdale an annual salary of £350,000. As I see it it's win or bust for them: If they don't win the Play Offs, then they're in big trouble in the summer... Don't know anything about Southend It's starting to look like the football boom may be turning to a football bust. Even the big guns like Man U and Liverpool have huge amounts of debt. While it would be very sad for any club to go bust maybe one of these one's needs to to make the rest see sense. The FA really needs to get a grip of debt and try to get some sort of salary or wage cap in place to stop the madness. If 1 or more clubs did go bust then all the surplus players floating about might help to drive down footballer's wages a bit and would be good in the long term. As for the fans I guess AFC Wimbledon have shown that you can make it back from nothing even if it takes a very long time On a note of self interest if Pompey do fold then only 2 would be relegated from the Premier League and then presumably only 2 would go down from the Championship. This would put us a slightly more comfortable 13 points from relegation rather than 5. If Cardiff were to fold then we would be laughing as we would gain +9 on the goal difference whilst gaining on clubs who took points from them e.g. QPR. Link to comment Share on other sites More sharing options...
bristolcitysweden Posted February 10, 2010 Report Share Posted February 10, 2010 Not seen this anywhere else but the 3 clubs above all faced winding up orders today due to unpaid taxes (you think we've got problems!) Pompey got a week's reprieve the other 2 got one more month. Pompey apparently owe 60 million overall and definitely owe 11 million to the Inland Revenue. They got the reprieve because some people may be interested in taking them over but I find this hard to believe. Who is going to want to pay 60 million for a (soon-to-be) Championship club when you could buy Palace, for example, for much less. I think Pompey are doomed to be wound up (unless they manage to go into administration somehow) Cardiff are also in a lot of trouble but have managed to pay off 1 million out of 2.7 million owed to HMRC already and have managed to get the council to allow them to sell some land worth about 1.8 million to help pay off the debt. The problem they have is they seem to have already spent next year's season ticket money and have also started paying back 15 million to Langston (connected to Sam Hammam) in £250,000 installments. They are also allegedly paying Peter Ridsdale an annual salary of £350,000. As I see it it's win or bust for them: If they don't win the Play Offs, then they're in big trouble in the summer... Don't know anything about Southend It's starting to look like the football boom may be turning to a football bust. Even the big guns like Man U and Liverpool have huge amounts of debt. While it would be very sad for any club to go bust maybe one of these one's needs to to make the rest see sense. The FA really needs to get a grip of debt and try to get some sort of salary or wage cap in place to stop the madness. If 1 or more clubs did go bust then all the surplus players floating about might help to drive down footballer's wages a bit and would be good in the long term. As for the fans I guess AFC Wimbledon have shown that you can make it back from nothing even if it takes a very long time On a note of self interest if Pompey do fold then only 2 would be relegated from the Premier League and then presumably only 2 would go down from the Championship. This would put us a slightly more comfortable 13 points from relegation rather than 5. If Cardiff were to fold then we would be laughing as we would gain +9 on the goal difference whilst gaining on clubs who took points from them e.g. QPR. Great post mate! Link to comment Share on other sites More sharing options...
Laner Posted February 10, 2010 Report Share Posted February 10, 2010 How would we gain goal difference from a team being deducted 10 points? Link to comment Share on other sites More sharing options...
Will Rollason Posted February 10, 2010 Report Share Posted February 10, 2010 Chester in trouble to. Players on strike. Link to comment Share on other sites More sharing options...
Admin Maesknoll Red Posted February 10, 2010 Admin Report Share Posted February 10, 2010 How would we gain goal difference from a team being deducted 10 points? 10 point deduction for going into administration, folding means closing, finished, no more. Link to comment Share on other sites More sharing options...
Loderingo Posted February 10, 2010 Author Report Share Posted February 10, 2010 How would we gain goal difference from a team being deducted 10 points? I meant if Cardiff folded completely and had their league record expunged. Obviously if they went into administration that wouldn't happen, they would just lose 10 points and be 1 point ahead of us. Link to comment Share on other sites More sharing options...
Tim K Posted February 10, 2010 Report Share Posted February 10, 2010 10 point deduction for going into administration, folding means closing, finished, no more. The thought of Cardiff City folding, finished and no more, brought a smile to my face for a moment - but sadly, I can't see them doing more than going into administration sometime in the future at best - if they don't go up. Link to comment Share on other sites More sharing options...
Laner Posted February 10, 2010 Report Share Posted February 10, 2010 They ain't gonna drop out of the league... we can only dream! Link to comment Share on other sites More sharing options...
Old Dazzler Posted February 10, 2010 Report Share Posted February 10, 2010 On the "local" BBC footie show on Monday night, Jonathan Pearce gave a strong hint that S****horpe could be on the brink of administration, which could help us if we get tangled in the relegation mix . He also thought that the Coventry game was the first game that Clarkson had been involved with for many months (JP being a City fan) so maybe not a reliable source! Link to comment Share on other sites More sharing options...
Admin Maesknoll Red Posted February 10, 2010 Admin Report Share Posted February 10, 2010 The thought of Cardiff City folding, finished and no more, brought a smile to my face for a moment - but sadly, I can't see them doing more than going into administration sometime in the future at best - if they don't go up. I can appreciate that smile, I had one as well....... Seriously though, it wouldn't be good if clubs start going bust, if we wished all those we don't like out of business, we'd be playing the same teams every other week!! Link to comment Share on other sites More sharing options...
LSR Posted February 10, 2010 Report Share Posted February 10, 2010 geeze Ive never heard so much crap hoping teams get folded or put into admin to help us....ffs be a fan for once and just think maybe oneday it could be us. Link to comment Share on other sites More sharing options...
Mr Popodopolous Posted February 11, 2010 Report Share Posted February 11, 2010 geeze Ive never heard so much crap hoping teams get folded or put into admin to help us....ffs be a fan for once and just think maybe oneday it could be us. Spot on. Though we laugh about Cardiff going into admin due to the rivalry and Palace due to Warnock and Jordan, wishing bankruptcy on them is a bit far imo. Remember us, in 1982? Link to comment Share on other sites More sharing options...
Philip Belgrave Posted February 11, 2010 Report Share Posted February 11, 2010 Spot on. Though we laugh about Cardiff going into admin due to the rivalry and Palace due to Warnock and Jordan, wishing bankruptcy on them is a bit far imo. Remember us, in 1982? Exactly: schadenfreude, the Germans call it- no precise translation but it's gaining pleasure from another's misfortune. I remember 1982, and there, but for the Grace of God (and perhaps SL) ,goes CITY. Link to comment Share on other sites More sharing options...
i remember dickie rooks Posted February 11, 2010 Report Share Posted February 11, 2010 I think this season could be pivital for football. Because of the place football teams hold in the local community, no one has yet had the nerve to go all the way and close one down (think of the bad publicity for the Government if it forced a club to go under for unpaid tax, or a local business if they did it) However, if one club does go under, then the stigma of being the first person to close down a football club will have gone, and the floodgates could open! Link to comment Share on other sites More sharing options...
CotswoldRed Posted February 11, 2010 Report Share Posted February 11, 2010 So long as the Football League continue to let clubs keep their league status after coming out of admin (and effectively becoming a new business) I can see this problem running and running. Link to comment Share on other sites More sharing options...
bcfcbs20 Posted February 11, 2010 Report Share Posted February 11, 2010 i was listening to an interview just now on the radio the bloke on there said at least one club will fold by the end of the season and there is a possibility at least four more could go next season he went on to say 90% of the clubs in the english leagues are in a dire mess financially which will only be put right after they see other clubs going out of business and take the drastic measures needed to sort out the mess they are in Link to comment Share on other sites More sharing options...
Keep the Faith Posted February 11, 2010 Report Share Posted February 11, 2010 They are also allegedly paying Peter Ridsdale an annual salary of £350,000. As I see it it's win or bust for them: If they don't win the Play Offs, then they're in big trouble in the summer... Just on this point someone who I know who is in the know with Cardiff told me a couple of months ago that he was on nearly £1m a year all things considered. You wonder how guys like this get away with it. What does he have to do to be banned from football. Link to comment Share on other sites More sharing options...
BS3_RED Posted February 11, 2010 Report Share Posted February 11, 2010 The Liverpool and Man Utd cases are a bit different though. They are not in debt due to being badly run, they are in debt because of how they were bought by there new owners. Link to comment Share on other sites More sharing options...
vincent_bcfc Posted February 11, 2010 Report Share Posted February 11, 2010 But how do the football clubs end up in debt when individuals buy them? Does that not effectively mean that the football clubs have bought themselves? Link to comment Share on other sites More sharing options...
View from the Dolman Posted February 11, 2010 Report Share Posted February 11, 2010 But how do the football clubs end up in debt when individuals buy them? Does that not effectively mean that the football clubs have bought themselves? Yep, that's exactly it. The new owners borrow to buy the club before transferring the debt to the club. The end result: the owners have a club which has been paid for by the club itself. Link to comment Share on other sites More sharing options...
vincent_bcfc Posted February 11, 2010 Report Share Posted February 11, 2010 Yep, that's exactly it. The new owners borrow to buy the club before transferring the debt to the club. The end result: the owners have a club which has been paid for by the club itself. What a ridiculous situation. How the hell is that allowed to happen? Going by that does that not mean I could go to the bank today ask to take out a loan to buy a football club and tell them as soon as I am in control of the football club I will use the revenue to pay back the loan? Stupid I know but surely possible? Link to comment Share on other sites More sharing options...
Jordan Tansley Posted February 11, 2010 Report Share Posted February 11, 2010 it's not a case of wishing for one or more of these clubs to go bust for our gain, It's a case of this needing to happen for the good of football. In all probability it is our fault that this has happened. Had we not snuck through loop hole after loop hole in '82 maybe people would have recieved a very early kick up the bum about borrowing and over spending? Pompey need to die, because if they get away with it how are the other clubs in similar positions going to learn? Pompey are the victims of their own stupidity, over spending and borrowing based on potential future earnings is incompitent to say the least! I feel for the fans of course, but essentially the benifit of this could outweigh their grief. If the money men get booted out of football quick-sharp could the game actually return to the people? could the game become a competition again? it's the only way the beautiful game will ever regain its beauty. which is a sad sad state of affairs imo. Link to comment Share on other sites More sharing options...
vincent_bcfc Posted February 11, 2010 Report Share Posted February 11, 2010 There is one man responsible for the mess at Portsmouth right now. That man is the manager of Tottenham Hotspur. He built a wonderful Portsmouth side that was thoroughly expected to build on the FA Cup success. He then went and spent way too much money on players and signed them to ridiculous contracts. To compound all this he walked out of the club barely 2 months into the season. The club budgeted to reach at least the quarter final stage of the UEFA cup, Something Mr Redknapp states was his aim. To then walk away and leave the club in the not so capable hands of Mr Tony Adams was cowardly and disrespectful to a club who gave him so much. Yes the people upstairs went along with everything and spent the money yet was it not right of them to expect a team to build on an FA cup win and an 8th place in the premier league? We played them in the FA Cup a few months after Redknapp left and I felt we matched them if not were the better side over the 2 games yet their players were still mainly the FA cup winning side of the previous season. The reason? The manager Tony Adams was a poor manager at Wycombe and did no better at Portsmouth. The club had already sold their top scorer Jermain Defoe back to Tottenham to pay off debts and he has been followed by many other ex Pompey players taken by Redknapp for cut down prices because of the financial situation, a situation he caused. Will Redknapp face any consequences should Portsmouth cease to be a football club? no of course not. Will he care that they have gone under? no of course not Imo Harry Redknapp is one of the worst people in football. Up there with Risdale, Hamman and the Glazers etc... Link to comment Share on other sites More sharing options...
Bristol Rob Posted February 11, 2010 Report Share Posted February 11, 2010 There is one man responsible for the mess at Portsmouth right now. That man is the manager of Tottenham Hotspur. He built a wonderful Portsmouth side that was thoroughly expected to build on the FA Cup success. He then went and spent way too much money on players and signed them to ridiculous contracts. To compound all this he walked out of the club barely 2 months into the season. The club budgeted to reach at least the quarter final stage of the UEFA cup, Something Mr Redknapp states was his aim. To then walk away and leave the club in the not so capable hands of Mr Tony Adams was cowardly and disrespectful to a club who gave him so much. Yes the people upstairs went along with everything and spent the money yet was it not right of them to expect a team to build on an FA cup win and an 8th place in the premier league? We played them in the FA Cup a few months after Redknapp left and I felt we matched them if not were the better side over the 2 games yet their players were still mainly the FA cup winning side of the previous season. The reason? The manager Tony Adams was a poor manager at Wycombe and did no better at Portsmouth. The club had already sold their top scorer Jermain Defoe back to Tottenham to pay off debts and he has been followed by many other ex Pompey players taken by Redknapp for cut down prices because of the financial situation, a situation he caused. Will Redknapp face any consequences should Portsmouth cease to be a football club? no of course not. Will he care that they have gone under? no of course not Imo Harry Redknapp is one of the worst people in football. Up there with Risdale, Hamman and the Glazers etc... You can't blame Redknapp, he was effectively 'sold' to Spurs by Portsmouth for close to five-million quid compensation. As for the signings and contracts... surely the board of directors agree budgets and let the manager know what the club can afford? All the board had to do, was say 'No' when a request was made. All managers want to have funds available to them, Redknapp is no different, if the board keep saying yes, you'll keep spending. Link to comment Share on other sites More sharing options...
vincent_bcfc Posted February 11, 2010 Report Share Posted February 11, 2010 You can't blame Redknapp, he was effectively 'sold' to Spurs by Portsmouth for close to five-million quid compensation. As for the signings and contracts... surely the board of directors agree budgets and let the manager know what the club can afford? All the board had to do, was say 'No' when a request was made. All managers want to have funds available to them, Redknapp is no different, if the board keep saying yes, you'll keep spending. He was not forced out or 'sold' at all. He went of his own accord. My point was that he went to the board and asked for the funds etc... whilst telling them he would continue to deliver success yet 3 months later he walked away. Link to comment Share on other sites More sharing options...
22A Posted February 11, 2010 Report Share Posted February 11, 2010 Sky Sports last night; Alan Sugar stated it will do football some good if a Prem team goes bust. Link to comment Share on other sites More sharing options...
CotswoldRed Posted February 11, 2010 Report Share Posted February 11, 2010 Sky Sports last night; Alan Sugar stated it will do football some good if a Prem team goes bust. From a man who suggested it was a good idea to buy an Amstrad computer! Link to comment Share on other sites More sharing options...
Jordan Tansley Posted February 11, 2010 Report Share Posted February 11, 2010 There is one man responsible for the mess at Portsmouth right now. That man is the manager of Tottenham Hotspur. He built a wonderful Portsmouth side that was thoroughly expected to build on the FA Cup success. He then went and spent way too much money on players and signed them to ridiculous contracts. To compound all this he walked out of the club barely 2 months into the season. The club budgeted to reach at least the quarter final stage of the UEFA cup, Something Mr Redknapp states was his aim. To then walk away and leave the club in the not so capable hands of Mr Tony Adams was cowardly and disrespectful to a club who gave him so much. Yes the people upstairs went along with everything and spent the money yet was it not right of them to expect a team to build on an FA cup win and an 8th place in the premier league? We played them in the FA Cup a few months after Redknapp left and I felt we matched them if not were the better side over the 2 games yet their players were still mainly the FA cup winning side of the previous season. The reason? The manager Tony Adams was a poor manager at Wycombe and did no better at Portsmouth. The club had already sold their top scorer Jermain Defoe back to Tottenham to pay off debts and he has been followed by many other ex Pompey players taken by Redknapp for cut down prices because of the financial situation, a situation he caused. Will Redknapp face any consequences should Portsmouth cease to be a football club? no of course not. Will he care that they have gone under? no of course not Imo Harry Redknapp is one of the worst people in football. Up there with Risdale, Hamman and the Glazers etc... Don't be a prat! football isn't actually like football manager! the manager doesn't have anything to do with contracts, fees or anything else, the board and CEO's are in charge of that. Peter Storie is the man who is at fault. All Harry did for Pompey was take them from being a shite championship side to one of the best teams in Premier League. Link to comment Share on other sites More sharing options...
bcfcbs20 Posted February 11, 2010 Report Share Posted February 11, 2010 Don't be a prat! football isn't actually like football manager! the manager doesn't have anything to do with contracts, fees or anything else, the board and CEO's are in charge of that. Peter Storie is the man who is at fault. All Harry did for Pompey was take them from being a shite championship side to one of the best teams in Premier League. haha that made me laugh i haven't heard anyone be called a prat in years your right though it isn't arrys fault pompey are in the mess there are in it's storie and gaydamark (whatever his name is) they got greedy Link to comment Share on other sites More sharing options...
vincent_bcfc Posted February 11, 2010 Report Share Posted February 11, 2010 Do you live in Portsmouth? Have you seen first hand everything that has happened down here? Agreed Peter Storrie is at fault as well however Without Redknapp's promises the amount of money that was spent wouldn't have been spent Link to comment Share on other sites More sharing options...
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