Portsmouth in deep do-do

[TheEastTerrace]

SSN reporting HM Revenue & Customs serving a winding up petition on Portsmouth.

[panshibby]

SSN reporting HM Revenue & Customs serving a winding up petition on Portsmouth.

Why cant that happen to our friends in the west of Edinburgh!!:wink:

[1two]

Wow
thats huge if true.

Im pretty sure when they get involved its only a matter of time!

[Hibernian Verse]

They should be taking down the ****bos.

[JT Fae The Toon]

Why cant that happen to our friends in the west of Edinburgh!!:wink:

It happens every week if you read the posts on here!! :greengrin

Pay up Pompey
Pompey Pay Up!

[jonty]

Wonder if they'll make the end of the season, or try to settle debts by a massive clear out in January.

[marinello59]

SSN reporting HM Revenue & Customs serving a winding up petition on Portsmouth.

Very sad if true. That's my Dads hometown team plus Peter Marinello played for them so I have always had a soft spot for them. :boo hoo:

[Barney McGrew]

It happens every week if you read the posts on here!! :greengrin

Pay up Pompey
Pompey Pay Up!

It's only a step further than were with you, so I wouldn't be too cocky.

If you don't keep up the repayment plan you have in place, then the same thing will happen

[hibs0666]

It happens every week if you read the posts on here!! :greengrin

Pay up Pompey
Pompey Pay Up!

Aye and we'd think that the guunts had no money problems if we listened to you twonks.

[Danderhall Hibs]

I just saw the news ticker on SSN, my heart started beating a bit faster – then it said it was Portsmouth.

[Caversham Green]

It happens every week if you read the posts on here!! :greengrin

Pay up Pompey
Pompey Pay Up!


It's only a step further than were with you, so I wouldn't be too cocky.

If you don't keep up the repayment plan you have in place, then the same thing will happen

This is exactly what did happen to the yams in July (and has happened three or four times prior to that). They've always escaped by paying up/coming to an arrangement ahead of the hearing, and I would expect Pompey to do the same after selling David James to Spurs in January.

[HibbyAndy]

If thats no bad enough, Arsenal will rape them tonight.:greengrin

[sambajustice]

It happens every week if you read the posts on here!! :greengrin

Pay up Pompey
Pompey Pay Up!

I know, and its effin boring now!

[MacBean]

This is exactly what did happen to the yams in July (and has happened three or four times prior to that). They've always escaped by paying up/coming to an arrangement ahead of the hearing, and I would expect Pompey to do the same after selling David James to Spurs in January.



I dont see why Spurs would want James.
Gomes has been outstanding for them of late!

[NORTHERNHIBBY]

Same ticker tape was running a story that Chelsea have posted an operating loss of 44 million pounds. That tells you all you need to know about the game down south. You can try and tread water and maybe stay in profit, but if you want to climb the league, complete and win things, it means incurring massive, massive debt. Wonder what will happen to these teams, if the next biggest fashion accessory is an F1 team or a basketball team.:dunno:

As for Portsmouth, reap what you sow.:violin:

[ballengeich]

Wonder what will happen to these teams, if the next biggest fashion accessory is an F1 team or a basketball team.:dunno:


I believe that Kaunas basketball club has attracted investment from a prominent Lithuanian banker. Everyone must hope that this does not distract him from his football interests.

[hibbie02]

SSN reporting HM Revenue & Customs serving a winding up petition on Portsmouth.

Good and I hope the take the Maroon Mongs with them into obscurity.

[Caversham Green]

I dont see why Spurs would want James.
Gomes has been outstanding for them of late!

It's a rumour that's been doing the rounds for some time now, but 'Arry's denied any interest, so there's probably nothing in it :wink:.

Incidentally, this WUP comes about a week after the news that HMRC intend to institute proceedings against 'Arry for payments he received while manager at Pompey and a month after Peter Storrie was charged with tax evasion. Are the three actions connected? :hmmm:

The doo-doo does indeed look deep, don't it?

[StevieC]

I would expect Pompey to do the same after selling David James to Spurs in January.

I thought Gomez had turned his season round and was playing quite well at the moment??

:dunno:

[Hibs07p]

SSN reporting Portsmouth players have still not been paid yet, but should be paid tomorrow. Where have we heard that one before?

[PaulSmith]

The EPL/English Leagues are on the brink of a meltdown.

Notts County
Hull
Portsmouth
Watford
West Ham

All are basically insolvent and are only still trading as they are seen as part of the community, it would seem however that HM Customs are now wanting their pound of flesh.

I wouldn't shed a tear for any of them, something needs to give down there as even the two biggest clubs in Man Utd and Liverpool have a combined debt of £1bn. It's crazy paper money that someday someone will 'call in' and they'll need to face reality that what they are chasing and the price they are paying will never get a return.

[EasterRoad4Ever]

The EPL/English Leagues are on the brink of a meltdown.

Notts County
Hull
Portsmouth
Watford
West Ham

All are basically insolvent and are only still trading as they are seen as part of the community, it would seem however that HM Customs are now wanting their pound of flesh.

I wouldn't shed a tear for any of them, something needs to give down there as even the two biggest clubs in Man Utd and Liverpool have a combined debt of £1bn. It's crazy paper money that someday someone will 'call in' and they'll need to face reality that what they are chasing and the price they are paying will never get a return.

Expect the pressure to build as HM Treasury realise just how big the hole in public finances is. Can't imaging the Tories will be any more sympathetic if they get in power.

[johnrebus]

The EPL/English Leagues are on the brink of a meltdown.

Notts County
Hull
Portsmouth
Watford
West Ham

All are basically insolvent and are only still trading as they are seen as part of the community, it would seem however that HM Customs are now wanting their pound of flesh.

I wouldn't shed a tear for any of them, something needs to give down there as even the two biggest clubs in Man Utd and Liverpool have a combined debt of £1bn. It's crazy paper money that someday someone will 'call in' and they'll need to face reality that what they are chasing and the price they are paying will never get a return.


I am so glad there are no Scots clubs in this sort of situation.

No, wait.........,


:bye:

[Ed De Gramo]

Surprised Sven's still hanging about at Notts County....must have seen some talent in one of the bars in Nottingham :greengrin

[PaulSmith]

http://www.bbc.co.uk/blogs/thereporters/robertpeston/2010/01/can_man_utd_spend.html

Man Utd - Total income £88m per season, interest payments £70m. Absolutely frigtening what is happening in the EPL

[MB62]

The EPL/English Leagues are on the brink of a meltdown.

Notts County
Hull
Portsmouth
Watford
West Ham

All are basically insolvent and are only still trading as they are seen as part of the community, it would seem however that HM Customs are now wanting their pound of flesh.

I wouldn't shed a tear for any of them, something needs to give down there as even the two biggest clubs in Man Utd and Liverpool have a combined debt of £1bn. It's crazy paper money that someday someone will 'call in' and they'll need to face reality that what they are chasing and the price they are paying will never get a return.

Crystal Palace also couldn't pay their staff on time for the 2nd time in two months.

[Cocaine&Caviar]

Wonder if they'll make the end of the season, or try to settle debts by a massive clear out in January.

A lot easier said than done, the only players that they have that will get a good transfer fee is Kaboul, Begovic and Boateng, outside that there are a lot of loan signings in the squad, O'Hara, Piquionne, Vanden Borre, Dindane and Yebda.

Outside of these you have a lot of average players that will get a fee like Diop, Mokeona, Mullins, Utaka, Smith, Hughes and Belhadj.

The rest of their squad is occupied by good but really ageing players with few years left like Kanu (33), Finnan (33), Niemi (37), Herardiersson (35), Brown (32), James (39), and Basinas (34).

Theres not enough potential transfer fee revenue to save Portsmouth IMO, or if they were to do so, they would have no chance to stay in the premiership with the remaining squad.

[Hibs07p]

A lot easier said than done, the only players that they have that will get a good transfer fee is Kaboul, Begovic and Boateng, outside that there are a lot of loan signings in the squad, O'Hara, Piquionne, Vanden Borre, Dindane and Yebda.

Outside of these you have a lot of average players that will get a fee like Diop, Mokeona, Mullins, Utaka, Smith, Hughes and Belhadj.

The rest of their squad is occupied by good but really ageing players with few years left like Kanu (33), Finnan (33), Niemi (37), Herardiersson (35), Brown (32), James (39), and Basinas (34).

Theres not enough potential transfer fee revenue to save Portsmouth IMO.

It was reported today that O'Hara's loan deal ends on 15th january but Spurs are willing to let him stay. The EPL say that he won't be allowed to re-register with Portsmouth because of some signing embargo placed on the club some time ago.

[Gus]

The EPL/English Leagues are on the brink of a meltdown.

Notts County
Hull
Portsmouth
Watford
West Ham

All are basically insolvent and are only still trading as they are seen as part of the community, it would seem however that HM Customs are now wanting their pound of flesh.

I wouldn't shed a tear for any of them, something needs to give down there as even the two biggest clubs in Man Utd and Liverpool have a combined debt of £1bn. It's crazy paper money that someday someone will 'call in' and they'll need to face reality that what they are chasing and the price they are paying will never get a return.

Foreign ownership at all but one of those, all resulted in all those clubs on the brink. Guys coming in thinking they could make a £ be involved etc then BOOM balls up

Liverpool & Man Utd are in an awful state, interest payments (whose there bank? HBOS I think:wink:)

[Liberal Hibby]

Man City too...

http://news.bbc.co.uk/1/hi/business/8443316.stm

Chealsea are technically insolvent as well.

[PaulSmith]

Man City too...

http://news.bbc.co.uk/1/hi/business/8443316.stm

Chealsea are technically insolvent as well.

I think Roman Abramovich basically wrote off their debt last week in return for equity, reported now as being 'debt free'.

[Part/Time Supporter]

http://www.bbc.co.uk/blogs/thereporters/robertpeston/2010/01/can_man_utd_spend.html

Man Utd - Total income £88m per season, interest payments £70m. Absolutely frigtening what is happening in the EPL

£88M is Man Utd's profit before interest and tax (EBIT). Their income (turnover) is far higher than that. It is true though that the Glazer takeover is sucking huge amounts out of them each year, which means they can't really spend big in the transfer market (eg being outbid for Benzema).

[jgl07]

£88M is Man Utd's profit before interest and tax (EBIT). Their income (turnover) is far higher than that. It is true though that the Glazer takeover is sucking huge amounts out of them each year, which means they can't really spend big in the transfer market (eg being outbid for Benzema).
Manchester United are a highly profitable club but the business model used by the Glazer Family (and also by the owners of Liverpool) is fundamentally flawed. A leveraged buy out leaving huge interest repayments means that they will always be struggling.

Failure to qualify for the Champions' league by either team could be financially disastrous (and quite likely in the case of Liverpool).

United have the problems of a aging squad. Scholes, Giggs, Neville, Ferdinand, Van der Saar, Wes Brown, Owen, etc are all the wrong side of 30, while the likes of Hargreaves, Berbatov, Evra, Park, Vidic, O'Shea, Carrick are not that much younger. They will struggle to raise the money needed to replace them as long as the Glazers are in charge.

Chelsea and Manchester City have much sounder business models as long as their rich owners continue to pump in money and convert debt to equity at some stage.

[Cocaine&Caviar]

A lot easier said than done, the only players that they have that will get a good transfer fee is Kaboul, Begovic and Boateng, outside that there are a lot of loan signings in the squad, O'Hara, Piquionne, Vanden Borre, Dindane and Yebda.

This is another blow as he cannot be sold in January as the Premier League say he cannot play for a 3rd team this season.

[hibbie02]

Manchester United are a highly profitable club but the business model used by the Glazer Family (and also by the owners of Liverpool) is fundamentally flawed. A leveraged buy out leaving huge interest repayments means that they will always be struggling.

Failure to qualify for the Champions' league by either team could be financially disastrous (and quite likely in the case of Liverpool).

United have the problems of a aging squad. Scholes, Giggs, Neville, Ferdinand, Van der Saar, Wes Brown, Owen, etc are all the wrong side of 30, while the likes of Hargreaves, Berbatov, Evra, Park, Vidic, O'Shea, Carrick are not that much younger. They will struggle to raise the money needed to replace them as long as the Glazers are in charge.

Chelsea and Manchester City have much sounder business models as long as their rich owners continue to pump in money and convert debt to equity at some stage.

Which is the same as Hearts. Very sound as long as the sugardaddy is interested. Extremely hazzardous if they aren't. :greengrin

[PaulSmith]

http://www.bbc.co.uk/blogs/mattslater/2010/01/fergies_bond_is_a_bind_for_eve.html

Might be a bit boring for some but (another) pretty accurate assumption for me on the state of the EPL and Man Utd

[surreyhibbie]

Very sad if true. That's my Dads hometown team plus Peter Marinello played for them so I have always had a soft spot for them. :boo hoo:

And one of the posters on here is helping to coach their youth team as part of his degree course, leading to a pro licence...:boo hoo:

[Cocaine&Caviar]

A lot easier said than done, the only players that they have that will get a good transfer fee is Kaboul, Begovic and Boateng, outside that there are a lot of loan signings in the squad, O'Hara, Piquionne, Vanden Borre, Dindane and Yebda.

Outside of these you have a lot of average players that will get a fee like Diop, Mokeona, Mullins, Utaka, Smith, Hughes and Belhadj.

The rest of their squad is occupied by good but really ageing players with few years left like Kanu (33), Finnan (33), Niemi (37), Herardiersson (35), Brown (32), James (39), and Basinas (34).

Theres not enough potential transfer fee revenue to save Portsmouth IMO, or if they were to do so, they would have no chance to stay in the premiership with the remaining squad.

David James is now headed out on loan to Stoke, prosumabley because of Begovic's perfromances they are able to get James off the wage bill...

[HibbyAndy]

David James is now headed out on loan to Stoke, prosumabley because of Begovic's perfromances they are able to get James off the wage bill...

Stoke will pay 50 % of DJ wages, Portsmouth will pay the other half.

[Cocaine&Caviar]

Stoke will pay 50 % of DJ wages, Portsmouth will pay the other half.

Seems a very small gain from losing such a good player and dressing room presence going into a relegation battle...