photo credit: jacreative
Can you imagine the ire if the government nailed a whole club?
It appears that Portsmouth has even more to worry about–you know, besides the administration and the 9 point loss on the table. Yeah, now they are thinking that the “Inland Revenue”–England’s IRS–is out to get them. Now, since I’m someone who leans towards conspiracy theories I wouldn’t be shocked at all if this were the case.
At Fratton Park, the club is thinking that “the man” is considering making an example of the club by shutting them down. However, it goes deeper than that. Read more... (332 words, 4 images, estimated 1:20 mins reading time)
photo credit: bhhardinge
The lights aren’t off…yet.
Pompey has been put on administration following their inability to find new ownership and new capital. It’s a sad day for Portsmouth, but the day is not lost. However, there are a couple things to consider:
1. Their administrator Andrew Andronikou is charged with severely cutting costs and attempting to make the club solvent. This is very good because at least the EPL has a vision for how this should get fixed. Find a dude who works for a financial firm to fix this! Most sports teams (including Pompey) aren’t that smart. Read more... (348 words, 4 images, estimated 1:24 mins reading time)
Portsmouth are set to become the first Premier League club to go into administration after owner Balram Chainrai served notice of his intention to put the club into the hands of insolvency experts on Friday.
Chainrai said it was now unlikely that a takeover deal would be done before the end of the week and administration will prevent the club from being wound up in the High Court on Monday.
But it will also mean certain relegation for Pompey as there is an automatic nine-point penalty for any Premier League club going into administration and that would leave the side on just seven points, 16 behind their nearest rivals. Read more... (513 words, 3 images, estimated 2:03 mins reading time)
Portsmouth are in such dire financial straits that they have asked the Premier League if they can sell players outside the transfer window.
However, the move will depend on their request being sanctioned by the Football Association and FIFA as well as the Premier League.
A spokesman for Pompey said:
“I can confirm we have put in a request to the Premier League to sell players outside the transfer window. It is something we are exploring.”
Pompey have not identified any specific players for sale but reports suggest Algeria World Cup star Nadir Belhadj, midfielder Kevin Prince-Boateng and young defender Mark Wilson could be made available according to published reports. Read more... (157 words, 3 images, estimated 38 secs reading time)
photo credit: wonker
Maybe we can get the focus back on the field…
Portsmouth’s financial troubles have continued under-the-radar because other things have been going on in the Premier League, but now the team (apparently) has a couple interested buyers and now they are saying that the price is dropping to basically “nothing”.
Ok, this one I agree with. You know, a few years ago when the NHL came out of their lockout that cancelled the Stanley Cup and ruined the league they took a TV deal with NBC that NBC didn’t have to pay for. You know what? It kind of helped. Read more... (329 words, 4 images, estimated 1:19 mins reading time)
The financial troubles at Portsmouth go from worse to worse as the club’s web site has been closed down today due non-payment.
If Pompey doesn’t have the money to pay for a web site, how can it meet its payroll of around £1.8m that is due tomorrow? Pompey has already been late paying its players at least three times this season.
In addition to meeting payroll, Pompey also has a £9m payment to former owner Sacha Gaydamak that is due by midnight on 31 January. What are the odds that payment will be made? Read more... (118 words, 3 images, estimated 28 secs reading time)
The good news for Avram Grant and Pompey fans, is that the Premier League has lifted the clubs transfer embargo. The bad news is that they can only sign players on loan or who are available on a free transfer
Portsmouth has been unable to register new players since October, when the Premier League imposed the restriction due to the club’s unpaid debts on previous transfers. The ban on registering players has been reportedely linked to payments owed to Udinese over the signing of Sulley Muntari, who has since returned to Serie A with Inter Milan. Read more... (259 words, 2 images, estimated 1:02 mins reading time)
photo credit: wonker
The fans deserve new ownership…and fast!
No, no…not the Colonel, but his son has apparently made an offer to the Portsmouth leadership. Well, that offer was turned down and before you say “Why would you sell to the Libyans?” let me tell you a story.
Saadi is an ex-footballer who played in Italy for Udinese and Sampdoria. So, he’s a player…a “soccer person” and you turned him down?
He also owned a stake in Juventus. Wait, so he also has investing and ownership experience and you turned him down? Read more... (344 words, 4 images, estimated 1:23 mins reading time)
photo credit: wonker
In a bold move for someone who is the relative of a team owner and not the owner himself the brother of Portsmouth owner Ali Al-Faraj is taking his case to the British press.
Basically, Ahmed Al-Faraj is saying that his brother is throwing money at Portsmouth only to be hounded by the fans and the press for being a degenerate owner.
I can understand Al-Faraj’s frustration. His brother, he believes, truly loves the team and is doing everything in his power to keep it afloat only to be ridiculed by the fans and media because of the money problems the club is facing. Read more... (466 words, 4 images, estimated 1:52 mins reading time)
So Portsmouth have again failed to meet a promise to pay players their December wages.
Players were expected to be paid on Tuesday, but that was pushed back again as the club struggles to raise the cash needed. This is the third month in which the players’ wages have been delayed.
Pompey chief executive Peter Storrie hinted players may now be sold.
“If the way to keep this club alive is to sell a couple of players again, we will have to do that – but it will be an owner’s decision,” said Storrie. “If you do not sell, then you could well be going into administration.” Read more... (181 words, 3 images, estimated 43 secs reading time)
