Admin Maesknoll Red Posted August 5, 2010 Admin Report Share Posted August 5, 2010 ... could see Portsmouth liqudated. If the HMRC wins its case Portsmouth is likely to go into liquidation and will not be able to meet its fixtures and commitments to the football league. http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8886009.stm Link to comment Share on other sites More sharing options...
'Orns Posted August 5, 2010 Report Share Posted August 5, 2010 What happens to the people that screwed them into the ground though? Feel sorry for the fans, but someone needs to pay for what's happened. Really can't see them disappearing though, something will happen to save them. As long as they pay it all back and cut their cloth accordingly now then I don't have a problem with that. But if they don't pay it back and continue to live beyond their means then that is bang out of order. Link to comment Share on other sites More sharing options...
Red Cloud Posted August 5, 2010 Report Share Posted August 5, 2010 what would happen to their league place if they do go bust then? Link to comment Share on other sites More sharing options...
Admin Maesknoll Red Posted August 5, 2010 Author Admin Report Share Posted August 5, 2010 What happens to the people that screwed them into the ground though? Feel sorry for the fans, but someone needs to pay for what's happened. Really can't see them disappearing though, something will happen to save them. As long as they pay it all back and cut their cloth accordingly now then I don't have a problem with that. But if they don't pay it back and continue to live beyond their means then that is bang out of order. Can they pay their debts? Somewhere in the region of £120M I believe. Not sure how they can pay that off and stay viable, hopefully it might just put the brakes on the financial madness that has swept football along since the inception ogf the Premier League. As you say, the fans will suffer, those who managed the club into such a financial blackhole will move on and wreck havoc elsewhere, Link to comment Share on other sites More sharing options...
fatman Posted August 5, 2010 Report Share Posted August 5, 2010 what would happen to their league place if they do go bust then? assume their fixtures will be deleted and only 2 clubs would be relegated Link to comment Share on other sites More sharing options...
The_Boy Posted August 5, 2010 Report Share Posted August 5, 2010 Case will be taken to appeal no matter what the outcome so it's unlikely the club will enter liquidation as of yet. However that stated, this could have huge ramifications if they decide the rules in place for football clubs entering financial difficulty have no basis in law. Could see a huge domino effect... As with all these things, feel hugely sorry for the fans, it's not their fault but a football club has no more right to shy away from repayments than any other company or individual. Link to comment Share on other sites More sharing options...
Guest Posted August 5, 2010 Report Share Posted August 5, 2010 Rejected, CVA agreement can proceed. Link to comment Share on other sites More sharing options...
Wilksi Posted August 5, 2010 Report Share Posted August 5, 2010 Rejected, CVA agreement can proceed. does that mean they will have points docked?? Link to comment Share on other sites More sharing options...
Riaz Posted August 5, 2010 Report Share Posted August 5, 2010 Am surprised. I did think the argument that HMRC made was a fair one. Link to comment Share on other sites More sharing options...
Guest Posted August 5, 2010 Report Share Posted August 5, 2010 does that mean they will have points docked?? Don't think so, if they have an agreed CVA in place they won't get points deduction (like Stockport did last year I think) Link to comment Share on other sites More sharing options...
luke_bristol Posted August 5, 2010 Report Share Posted August 5, 2010 Only people get done for not paying tax, football clubs, it seems, can have multiple 'one last chances'. Link to comment Share on other sites More sharing options...
Ryan_BCFC Posted August 5, 2010 Report Share Posted August 5, 2010 I wonder how they will do with 14 player Link to comment Share on other sites More sharing options...
havanatopia Posted August 5, 2010 Report Share Posted August 5, 2010 Am surprised. I did think the argument that HMRC made was a fair one. it absolutely was a fair one. Bogus payments off shore for so called 'image rights'; there are two questionable actions right there. You reside in the UK you pay tax in the UK whether its earned in the UK or overseas makes no difference. Link to comment Share on other sites More sharing options...
havanatopia Posted August 5, 2010 Report Share Posted August 5, 2010 I wonder how they will do with 14 player They will be relegated. Link to comment Share on other sites More sharing options...
CliftonCliff Posted August 5, 2010 Report Share Posted August 5, 2010 According to the report I read, HMRC have said they will not go to appeal, which seems surprising. You don't know whether to laugh or cry, really. I don't want to see Pompey wound up, but for the wider good of the game you wonder how much longer this sort of thing can go on. Link to comment Share on other sites More sharing options...
GrahamC Posted August 5, 2010 Report Share Posted August 5, 2010 According to the report I read, HMRC have said they will not go to appeal, which seems surprising. You don't know whether to laugh or cry, really. I don't want to see Pompey wound up, but for the wider good of the game you wonder how much longer this sort of thing can go on. Too right. It is incomprehensible that they can negotiate one deal for their non HMRC creditors and one for the tax man to me. Both Pompey and Cardiff are taking the piss, IMO. Link to comment Share on other sites More sharing options...
The Casual Connoisseur Posted August 5, 2010 Report Share Posted August 5, 2010 According to the report I read, HMRC have said they will not go to appeal, which seems surprising. You don't know whether to laugh or cry, really. I don't want to see Pompey wound up, but for the wider good of the game you wonder how much longer this sort of thing can go on. I completely agree, I have a soft spot for Pompey, so we should keep them and liquidate Cardiff, let the HMRC make an example of them instead of Pompey. Link to comment Share on other sites More sharing options...
!james Posted August 5, 2010 Report Share Posted August 5, 2010 Bad day for football that Portsmouth won that Link to comment Share on other sites More sharing options...
simonwheeler Posted August 5, 2010 Report Share Posted August 5, 2010 Exclusive picture of the High Court judge hearing todays monumental case ABSOLUTELY UNBELIEVABLE................ Thirty seven million big ones straight down the U tube Link to comment Share on other sites More sharing options...
BristolRed11 Posted August 5, 2010 Report Share Posted August 5, 2010 Lucky pompy get away with it. Link to comment Share on other sites More sharing options...
havanatopia Posted August 5, 2010 Report Share Posted August 5, 2010 I completely agree, I have a soft spot for Pompey, so we should keep them and liquidate Cardiff, let the HMRC make an example of them instead of Pompey. when making a joke you should put exclamation marks after the remark. if i did not judge you were making a joke then i think i would be criticised for disrespecting your opinion. Link to comment Share on other sites More sharing options...
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