CotswoldRed Posted January 3, 2012 Report Share Posted January 3, 2012 A few weeks ago the holding company of Portsmouth FC went into admin. At the time it didn't seem cut and dried that they would be deducted points. Anyone know what's going on? Is there an FA hearing? Will it be swept under the carpet? Apologies in advance if this has been answered recently. Link to comment Share on other sites More sharing options...
Riaz Posted January 3, 2012 Report Share Posted January 3, 2012 A few weeks ago the holding company of Portsmouth FC went into admin. At the time it didn't seem cut and dried that they would be deducted points. Anyone know what's going on? Is there an FA hearing? Will it be swept under the carpet? Apologies in advance if this has been answered recently. On sky sports news, an expert said that the holding company went bust - so the football club is now owned by a company who was owed a massive lump by the holding company. Portsmouth have carried on operating as normal (paying their bills etc) and therefore arent in admin and will not be dedcuted points Thats what I think has happened. Link to comment Share on other sites More sharing options...
CotswoldRed Posted January 3, 2012 Author Report Share Posted January 3, 2012 On sky sports news, an expert said that the holding company went bust - so the football club is now owned by a company who was owed a massive lump by the holding company. Portsmouth have carried on operating as normal (paying their bills etc) and therefore arent in admin and will not be dedcuted points Thats what I think has happened. I get that, but exactly how does this differ from the Southampton sceanario a few years back?I thought the Portsmouth holding company went into admin? The fact they now have cash on the hip isn't quite relevant is it? Link to comment Share on other sites More sharing options...
Riaz Posted January 3, 2012 Report Share Posted January 3, 2012 I get that, but exactly how does this differ from the Southampton sceanario a few years back?I thought the Portsmouth holding company went into admin? The fact they now have cash on the hip isn't quite relevant is it? because the holding company still owned the club? and the club were then operating as they were in admin? whereas with portsmouth - its only effected ownership and nothing else. If they are still paying their bills, then thats fair. Link to comment Share on other sites More sharing options...
Red-Robbo Posted January 3, 2012 Report Share Posted January 3, 2012 Strikes me that Pompey are run like one of those dodgy building firms that go bust and then reappear instantly as another company "not connected in any way" with their previous misdemeanors. Link to comment Share on other sites More sharing options...
CotswoldRed Posted January 3, 2012 Author Report Share Posted January 3, 2012 because the holding company still owned the club? and the club were then operating as they were in admin? whereas with portsmouth - its only effected ownership and nothing else. If they are still paying their bills, then thats fair. Thanks Riaz. Still not sure I quite understand though! Link to comment Share on other sites More sharing options...
CotswoldRed Posted January 4, 2012 Author Report Share Posted January 4, 2012 Reading a bit further today it seems that the confidence Portsmouth have in getting off a possible deduction may not be as well-founded as it seems. Going back to Southampton, they got a deduction because the holdings company was inextricably linked to Southampton and it was essentially their only real business. Granted this comes from a forum, but a poster to the BBC website has explained the following which indicates that the Portsmouth holding company (CSI) is hardly a great global group of business and appears to be VERY similar to the Southampton situation. It seems Portsmouth FC would amount to probably almost all the turnover of the holding company, CSI: Southampton Leisure Holdings sold off their other businesses in an attempt to stop their main business, the football club, going into administration. CSI's only major business is Portsmouth Football Club. Their other concerns exist largely on paper but don't amount to a hill of beans: Boom! is indoor cyckling with 12 instructors - activities per day: 3 hours 45 min. Supposedly located in Shoreditch, but no address anywhere on the site. Opened September 2011. (note this) DBG is a digital and online management company specialising in mobile applications, social networks and online content management. Website is currently under maintenance. GBsport.tv will launch in September 2011 and stream 1,400 hours of live coverage a year. The core sports GBsport TV will champion include Athletics, Badminton, Basketball, Boxing, Cycling, Gymnastics, Handball, Hockey, Rowing, Sailing, Swimming, Taekwondo, Tennis and Winter Sports. The coverage will be a combination of live domestic and international events - featuring strong British competition – including National, European and World championships. Website is unavailable for viewers outside the UK. GPWeek is a rally magazine with a tiny readershup. Leaders - execs playing footie and networking? Whole array of different forums for this, and not needed pr. se. PPGolf - no events since March 2011. Sportspost - a forum about sports with no fees? WAC Rally has the same statement as PFC on their site So, there is no real difference. Link to comment Share on other sites More sharing options...
Monkeh Posted January 4, 2012 Report Share Posted January 4, 2012 its not been discussed yet but Portsmouth FC are still paying there bills at the moment so are not in admin (I think Southampton owed to the hmri) But as they only just came out of admin and are paying so much in the pound if they defualt on this it could blow open it, Differcult one really Link to comment Share on other sites More sharing options...
Riaz Posted January 4, 2012 Report Share Posted January 4, 2012 If they did get a deduction - that would be fantastic news for us. Link to comment Share on other sites More sharing options...
CotswoldRed Posted January 4, 2012 Author Report Share Posted January 4, 2012 its not been discussed yet but Portsmouth FC are still paying there bills at the moment so are not in admin (I think Southampton owed to the hmri) But as they only just came out of admin and are paying so much in the pound if they defualt on this it could blow open it, Differcult one really CSI went into admin. The argument is that CSI's debt is effectively caused by Portsmouth FC because they are arguably one and the same. As far as I know, continuing to pay bills isn't a defence. The more I read, the more I am convinced Pompey will get a deduction. The owners deserve it. The fans don't. Link to comment Share on other sites More sharing options...
Monkeh Posted January 4, 2012 Report Share Posted January 4, 2012 CSI went into admin. The argument is that CSI's debt is effectively caused by Portsmouth FC because they are arguably one and the same. As far as I know, continuing to pay bills isn't a defence. The more I read, the more I am convinced Pompey will get a deduction. The owners deserve it. The fans don't. ifs and butts though isn't it until more information becomes out we can only guess, Didn't the southampton one start in feb and didn't actually get the points deduction until april (carried over to the following season) Link to comment Share on other sites More sharing options...
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