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4:44pm Monday 13th February 2012 in News
Portsmouth are facing a 10-point deduction after the club's advisors confirmed they are seeking to go into administration.
It will be the second time in as many years that the club has gone into administration. Pompey face a winding-up hearing next week over an unpaid tax bill and have not been able to pay their players and staff for January.
Peter Kubik, of the club's financial advisors UHY Hacker Young, told Press Association Sport: ''They are in the process of seeking an administration order - an application to court seeking administration is due to go in any day.
''The club's bank accounts have been frozen due to the winding up hearing and they are finding it very difficult to trade. Once the administration order is in place the bank accounts will be made accessible again.
''We are aware that administration carries an automatic 10-point deduction by the Football League.''
Pompey were plunged into another financial crisis after their parent company, Convers Sports Initiatives (CSI), went into administration in November. UHY Hacker Young are the administrators for CSI.
The tax bill is for between £1.2million and £900,000 but Kubik said there were many other outstanding bills to pay. Among these, the club needs to pay their electricity supplier in order to avoid being cut off.
''There are lots of bills they need to pay,'' added Kubik.
In February 2010 Portsmouth became the first Premier League club to enter administration and were deducted nine points, condemning them to relegation.
A 10-point deduction from the Football League would put Pompey on 25 points, outside the relegation places on goal difference alone.
Comments(89)
Little Hitler
says...
4:52pm Mon 13 Feb 12
Sussex Saint
says...
4:53pm Mon 13 Feb 12
Little Hitler
says...
4:57pm Mon 13 Feb 12
Sussex Saint wrote:I think the funniest line above was this one:
Portsmouth heading for administration... rather than pay their bills
RedArmy1
says...
4:58pm Mon 13 Feb 12
St Retford
says...
5:00pm Mon 13 Feb 12
Sussex Saint
says...
5:02pm Mon 13 Feb 12
Little Hitler wrote:Whatever next, they'll turn the club website off.....
Sussex Saint wrote:I think the funniest line above was this one:
Portsmouth heading for administration... rather than pay their bills
'Among these, the club needs to pay their electricity supplier in order to avoid being cut off'
How pikey is that!
Rhombus
says...
5:03pm Mon 13 Feb 12
truelysaints
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5:06pm Mon 13 Feb 12
Saint Rob Block 42
says...
5:08pm Mon 13 Feb 12
Gossie.
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5:10pm Mon 13 Feb 12
JohnItaly wrote:First Administration was in the Prem, different organisation so doesn't count.
Surely a second time in administration carries a penalty of 15 points at least. If the FA only deduct 10 pints then if I am right this would be a clear case of discrimination as other clubs falling into administration had more than 10 points deducted.
JohnItaly
says...
5:10pm Mon 13 Feb 12
JohnItaly wrote:Whoops. Forgot to say clubs falling into into administration for a second time.
Surely a second time in administration carries a penalty of 15 points at least. If the FA only deduct 10 pints then if I am right this would be a clear case of discrimination as other clubs falling into administration had more than 10 points deducted.
dango
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5:15pm Mon 13 Feb 12
sarfhamton
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5:16pm Mon 13 Feb 12
bridge-miester
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5:17pm Mon 13 Feb 12
Sussex Saint
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5:22pm Mon 13 Feb 12
Little Hitler
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5:24pm Mon 13 Feb 12
sarfhamton wrote:Very odd point of view.
I think it will be a tragedy if Pompey go out of Business, the FA should be ashamed of themselves.
The fans, the staff (not all mega money players remember), local suppliers and taxpayers will be punished if they go.
sk8srsinking
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5:27pm Mon 13 Feb 12
Fatty x Ford Worker
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5:34pm Mon 13 Feb 12
darune
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5:36pm Mon 13 Feb 12
sotonbusdriver
says...
5:43pm Mon 13 Feb 12
sarfhamton wrote:Yeah, the RED LIGHT District will have to rely solely on the Navy for business now.
I think it will be a tragedy if Pompey go out of Business, the FA should be ashamed of themselves.
The fans, the staff (not all mega money players remember), local suppliers and taxpayers will be punished if they go.
dualsy
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5:43pm Mon 13 Feb 12
nickatbh16
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5:44pm Mon 13 Feb 12
Fatty x Ford Worker
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5:46pm Mon 13 Feb 12
insane saint
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5:54pm Mon 13 Feb 12
Fatty x Ford Worker wrote:she has been there that long the blue few thought she was a statue of one of their owners
Just heard that that old dear in the photo is sussing out the current value of the land around the park to build a homeless doss hole for the homeless.
costa gaz
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6:02pm Mon 13 Feb 12
Nine Toes.
says...
6:03pm Mon 13 Feb 12
insane saint
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6:07pm Mon 13 Feb 12
insane saint
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6:11pm Mon 13 Feb 12
redsnapper
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6:18pm Mon 13 Feb 12
iandharvey
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6:18pm Mon 13 Feb 12
Little Hitler
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6:23pm Mon 13 Feb 12
Condor Man
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6:32pm Mon 13 Feb 12
willygetaway
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6:43pm Mon 13 Feb 12
tugboat
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6:55pm Mon 13 Feb 12
thomasupton
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7:02pm Mon 13 Feb 12
bigfella777
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7:08pm Mon 13 Feb 12
Crossley Place Saint
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7:12pm Mon 13 Feb 12
Costa Baz
says...
7:26pm Mon 13 Feb 12
darune wrote:I made the same point about promotion and relegation linking both the PL and FL, on other forums, which should completely negate the argument being put forward that as they are now in the FL it is not a repeat offence.
I find the rules regarding different administrations occuring in the Premier League and Football league a total farce.
How can the two leagues/organisation
s be said to be not connected. They have relegations and promotions between them each year and clubs in the FL benefit from parachute payments from the PL
Could it not be said that Portsmouth FC have many other financial irregularities currently such as the HMRC winding up order, and face the same 30 point deduction as Luton.
Over the Edge
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7:29pm Mon 13 Feb 12
redsnapper
says...
7:32pm Mon 13 Feb 12
myers
says...
7:33pm Mon 13 Feb 12
OSPREYSAINT
says...
7:43pm Mon 13 Feb 12
nickatbh16 wrote:We didn't write the rules, it doesn't seem right, would rather do it on merit than by default. Do you think it would be allowed to happen?
If Pompey bite the dust for good this time it will mean there results being removed, West ham-6,Cardiff-4 Saints-1,
Is this fair?
rob the saint in NZ
says...
7:51pm Mon 13 Feb 12
Exiled Saint - front line eastern outpost of Gosport
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7:56pm Mon 13 Feb 12
Linesman
says...
8:14pm Mon 13 Feb 12
sotonbusdriver wrote:Would they be able afford the trip to Derby Road?
sarfhamton wrote:Yeah, the RED LIGHT District will have to rely solely on the Navy for business now.
I think it will be a tragedy if Pompey go out of Business, the FA should be ashamed of themselves.
The fans, the staff (not all mega money players remember), local suppliers and taxpayers will be punished if they go.
rob the saint in NZ
says...
8:22pm Mon 13 Feb 12
Linesman wrote:They wouldn't get past Border Control at Junction 9 on the M27!
sotonbusdriver wrote:Would they be able afford the trip to Derby Road?sarfhamton wrote: I think it will be a tragedy if Pompey go out of Business, the FA should be ashamed of themselves. The fans, the staff (not all mega money players remember), local suppliers and taxpayers will be punished if they go.Yeah, the RED LIGHT District will have to rely solely on the Navy for business now.
OSPREYSAINT
says...
8:24pm Mon 13 Feb 12
sotonbusdriver wrote:What Navy?
sarfhamton wrote:Yeah, the RED LIGHT District will have to rely solely on the Navy for business now.
I think it will be a tragedy if Pompey go out of Business, the FA should be ashamed of themselves.
The fans, the staff (not all mega money players remember), local suppliers and taxpayers will be punished if they go.
Costa Baz
says...
8:26pm Mon 13 Feb 12
Gossie. wrote:What I don't understand is even if the PL and FL are different organisations, how can the two administrations not be linked?
JohnItaly wrote:First Administration was in the Prem, different organisation so doesn't count.
Surely a second time in administration carries a penalty of 15 points at least. If the FA only deduct 10 pints then if I am right this would be a clear case of discrimination as other clubs falling into administration had more than 10 points deducted.
Someone just put them out of their misery and give me a bl00dy good laugh
Bunman
says...
8:40pm Mon 13 Feb 12
redsnapper wrote:PFC website advertises businesses based on what you've been searching for in search engines. Hope you manage to sort out your money woes too Redsnapper!
Bad Credit- Top 20 Cards Get Lowest Rate APR at 27.9%! Rebuild Your Credit Rating Today www.moneysupermarket .com/bad-credit Have to laugh this ad is on THEIR WEBSITE. http://www.portsmout hfc.co.uk/LatestNews /news/Portsmouth-Foo tball-Club-Statement -3117.aspx
SinnerSaint
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8:43pm Mon 13 Feb 12
likewatchingbrazil
says...
9:15pm Mon 13 Feb 12
nickatbh16 wrote:yep
If Pompey bite the dust for good this time it will mean there results being removed, West ham-6,Cardiff-4 Saints-1,
Is this fair?
Little Hitler
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9:36pm Mon 13 Feb 12
JOHN47DEAR
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9:52pm Mon 13 Feb 12
Gary Clark
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9:58pm Mon 13 Feb 12
Norwegian Saint
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10:00pm Mon 13 Feb 12
Dresnez
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10:00pm Mon 13 Feb 12
Dresnez
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10:29pm Mon 13 Feb 12
Dartom
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10:40pm Mon 13 Feb 12
St Retford
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10:43pm Mon 13 Feb 12
florida saint
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2:20am Tue 14 Feb 12
chapellady
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7:12am Tue 14 Feb 12
NORTHAM ROARS
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7:31am Tue 14 Feb 12
SPIKEISLANDTRADER
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7:47am Tue 14 Feb 12
moulefanggoule
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8:26am Tue 14 Feb 12
Seedhouse the Unrepentant
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9:01am Tue 14 Feb 12
Saintsayer II
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9:13am Tue 14 Feb 12
ToastyTea
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9:41am Tue 14 Feb 12
Saintsayer II wrote:Do you mean audio live feed or tv live feed ?
looks like Asia plate have got 4 live feeds for to-nights game
JohnItaly
says...
9:55am Tue 14 Feb 12
NORTHAM ROARS wrote:Could well be a hidden agenda here as far as the FA/Football League are concerned. Pompey are in so much trouble that if they were a business, other than as a football club, they would have gone under. If the FA/Football League "allowed" Pompey to fold and it would create a precedent that might start a chain reaction seriously embarrassing the football world with unpaid creditors pursuing other clubs whose financial position can best be describe as precarious
People keep talking about an automatic -10 point deduction if you fall into administration- (or "file for administration") However if Portsmouth only get -10 points deducted they will be the luckiest bunch of crooks ever. The FA/football league have historically awarded at least -15 points for a 2nd drop into administration. (Remember the last order to pay back its debts has never even been paid they owe 17million for the ground and zillions to unpaid creditors from then.Local people!) Look at : LEEDS, ROTHERHAM, LUTON TOWN, BOURNEMOUTH and others- all had a much bigger penalty applied. Do Portsmouth have insiders at the Football League? They make a mockery of it. Saints had to take the 10points - in the next season- meaning we were relegated and starting in DIV1 at the bottom. Portsmouth it appears are SUCH an embarassment that they really fear the club could actually CLOSE completely(!) and thus may be lenient! Either way its a joke- Apparently they haven't even paid the electricity bill for tonights game against IPSWICH- JOKE!! F/league should be ashamed if dont do right thing! -15 points min!
NORTHAM ROARS
says...
10:19am Tue 14 Feb 12
OSPREYSAINT
says...
10:20am Tue 14 Feb 12
moulefanggoule wrote:That's going too far, it's not RW, no sign of an organ!
I think a lot of you posters above are a disgrace and sexist......There's no way you can tell that's a woman in the photo!! Fat with grey/blonde hair? Personally I think it's Rick Wakeman.
Lone Ranger.
says...
11:37am Tue 14 Feb 12
NORTHAM ROARS wrote:The 10 point deduction is automatic if a club goes into administration. So it applies as a minimum to any club.
It would be wrong if Bournemouth, Plymouth , Luton, Rotherham, Leeds Utd, and others got a harsh penalty and Portsmouth didn't. The precedents are set. What they chooose to do in next couple of days will show whether they are serious about sorting out clubs like Portsmouth -who are not fit nor proper!
Costa Baz
says...
11:49am Tue 14 Feb 12
St Retford wrote:I'm not sure what happens regarding the existing CVA, but I did read on a Poopey forum that should PFC fail to meet the requirements of the existing CVA and miss a payment, the creditor(s) would be able to reinstate the full value of their original debt.
Does being in administration give them protection from having to meet the terms of the existing CVA, a bit like how Chapter 11 gives American companies protection from creditors? If so, this is pretty handy timing on their part, and they'll probably wipe another load of debt off to make themselves cheap enough to tempt some unscrupulous shyster into buying them, but the Football League can't just stand by and watch it happen because they're damaging the reputation of football and it won't be long before companies just stop selling services to football clubs across the board because of the perceived risk of not getting paid. And then, when we can't buy pies and beer at half time, we'll all be sorry.
moulefanggoule
says...
12:47pm Tue 14 Feb 12
OSPREYSAINT wrote:Good point! Also no wizards outfit. Rick is a good man so probably wouldn't be seen dead in pompey. He's too classy.
moulefanggoule wrote: I think a lot of you posters above are a disgrace and sexist......There's no way you can tell that's a woman in the photo!! Fat with grey/blonde hair? Personally I think it's Rick Wakeman.That's going too far, it's not RW, no sign of an organ!
OSPREYSAINT
says...
12:55pm Tue 14 Feb 12
moulefanggoule wrote:He has been to the Ferneham, but has to draw the line somewhere!
OSPREYSAINT wrote:Good point! Also no wizards outfit. Rick is a good man so probably wouldn't be seen dead in pompey. He's too classy.
moulefanggoule wrote: I think a lot of you posters above are a disgrace and sexist......There's no way you can tell that's a woman in the photo!! Fat with grey/blonde hair? Personally I think it's Rick Wakeman.That's going too far, it's not RW, no sign of an organ!
dango
says...
1:04pm Tue 14 Feb 12
Little Hitler wrote:Southern Electric were there this morning installing a key meter!
Sussex Saint wrote:I think the funniest line above was this one:
Portsmouth heading for administration... rather than pay their bills
'Among these, the club needs to pay their electricity supplier in order to avoid being cut off'
How pikey is that!
JohnItaly
says...
2:41pm Tue 14 Feb 12
Lone Ranger.
says...
3:19pm Tue 14 Feb 12
Costa Baz wrote:The existing CVA values are the ones that have been agreed. Therfore it does not revert back to the original value.
St Retford wrote:I'm not sure what happens regarding the existing CVA, but I did read on a Poopey forum that should PFC fail to meet the requirements of the existing CVA and miss a payment, the creditor(s) would be able to reinstate the full value of their original debt.
Does being in administration give them protection from having to meet the terms of the existing CVA, a bit like how Chapter 11 gives American companies protection from creditors? If so, this is pretty handy timing on their part, and they'll probably wipe another load of debt off to make themselves cheap enough to tempt some unscrupulous shyster into buying them, but the Football League can't just stand by and watch it happen because they're damaging the reputation of football and it won't be long before companies just stop selling services to football clubs across the board because of the perceived risk of not getting paid. And then, when we can't buy pies and beer at half time, we'll all be sorry.
Don't know if that is true, but if it is HMRC would be able to reclaim the FULL amount PFC didn't pay last time, which was a ridiculous amount (70m??).
Ok PFC wouldn't be able to pay it, but they wouldn't get a buyer either.
ToastyTea
says...
4:04pm Tue 14 Feb 12
BenJovi
says...
4:49pm Tue 14 Feb 12
JohnItaly wrote:Only deducting 10 pints is **** right unfair. It should be at least 20 with a few whiskey chasers and at least 5 bags of pork scratchings for being such cheats.
Surely a second time in administration carries a penalty of 15 points at least. If the FA only deduct 10 pints then if I am right this would be a clear case of discrimination as other clubs falling into administration had more than 10 points deducted.
costa gaz
says...
9:31am Wed 15 Feb 12
olddellsaint
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1:10pm Wed 15 Feb 12
SPIKEISLANDTRADER
says...
7:23am Thu 16 Feb 12
SinnerSaint
says...
10:15am Thu 16 Feb 12
NORTHAM ROARS
says...
11:03am Thu 16 Feb 12
NORTHAM ROARS
says...
11:13am Thu 16 Feb 12
costa gaz
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5:09pm Thu 16 Feb 12
NORTHAM ROARS
says...
9:09pm Thu 16 Feb 12
costa gaz wrote:Sorry to be picky but they dont actually have their OWN training ground. ;-) But then again they dont own FRATTON PARK, they dont own the LAND, they dont have an ACCADEMY (they dont know what it is) they dont have enough to pay for a SCAN. How will they get to Barnsley? More credit when the bank accounts are unfrozen tommorow when they get put back into administration? I noticed that the Football league are voicing that they were "conned" by the previous Criminal owner.... Is this a prelude to let them off with just 10 points or paving the way to aa more rightful -15 points or worse? They have been silent until today - so its one or another. But two Key Pompey players crocked against Ipswich - will they still exist to play the Saints Next month I wonder....wil they drift on as they did before to the lifeline of close season.....
No money for a scan for their injured captain.
The locks have been changed by the company that stores their equipment at their training ground.
Also they have to get the bus to barnsley as they cant afford to fly.
But hey..... they've still got the best fans in the world hehehe
NORTHAM ROARS
says...
9:12pm Thu 16 Feb 12
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JohnItaly says...
4:50pm Mon 13 Feb 12