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Post by mikeyb99 on Apr 21, 2010 8:14:47 GMT
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Post by jen on Apr 21, 2010 8:24:16 GMT
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Post by mumf14 on Apr 21, 2010 8:36:21 GMT
Oh well....That can only mean one thing...They're finished...Gone Bye Bye,,
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Post by Menorca Stokie on Apr 21, 2010 8:52:40 GMT
So who really is responsible for this. Past owners, Peter Storey or past managers. There seems to be one person who has presided through this whole mess and that was the Chief exec. How did these wealth businessmen get involved if there was so much debt? Are Tottenham in for a similar Story when Kind Harry has finished and walks because the owners won't give him any more money? Very sad for the Pompey supporters.  |
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Post by Aleksandr Orlov on Apr 21, 2010 10:00:12 GMT
THEY ARE FUCKED.
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Post by ColonelMustard on Apr 21, 2010 11:11:33 GMT
If the creditors end up getting a paltry amount in the pound and the players get all of their wages then this encourages agents to sign obviously unsustainable wage deals and discourages anybody from lending to football clubs in trouble.
???
Administration in football makes no sense to me.
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Post by lew86 on Apr 21, 2010 11:11:55 GMT
Fuuuuuck me runnin'!
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Post by dozintheseventees on Apr 21, 2010 11:27:56 GMT
It's a simple case of living within your means. A club like Portsmouth were never really in a position to offer huge wages by way of luring players that they really couldn't afford. They did so nontheless and they'll pay a very heavy price. There is nothing wrong with ambition and trying to sign good players but, when you are offering silly/unsustainable wages in order to secure a signature, then it puts you at an unfair advantage amongst those clubs that are competing for the same players. We are pretty much where they were a few seasons ago and will be looking for quality players but we are on solid, solvent financial ground and Coates has stated that the club must gbe self-financing. He's right and that doesn't mean that you can't compete on transfer fees and wages. It simply means that you can justify what you spend in the overall context of the club's finances. Everton are a classic example of a well run club that manage to compete at a high level. Yes they pay £17 Million for the hairy Belgian but rake in £23 Million for Lescott - sound business. They also bring young talent through the ranks, something that Coates is spending huge sums of money on. We're going the right way IMO and Portsmouth are a classic example of how not to run a football club. Hopefully, most will take heed.
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Post by Menorca Stokie on Apr 21, 2010 11:44:14 GMT
Doz, you have written a lot of sense and I agree with it in total. My only concern is that how solvent would we be if the Coates family had not underwitten the debt and moved it else where.
Are our gate receipts, advertising Income from TV and Premier league etc covering all the bills?
Our turnover has ballooned in the past two seasons but so have our overheads.
However the coates family have organised the club finances it seems to be working on the surface and long may it continue but without selling off the odd crown Jewel (Shawcross) how long can we sustain it.
Can we really afford to take our wages, purchases , signing on and agents fee's to the next level and still be solvent?
The current owners have got us this far, can they now invest in a sensible manner and take us to a top 7 finish and still balance the books because there are many that can't.
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Post by dozintheseventees on Apr 21, 2010 11:54:04 GMT
Menorca: All very good points mate but you hit the nail on the head when you said that Coates 'good will' has put us in a position where we owe nothing. Our overheads are indeed very high but so is our income from all sources, although we need to continue to seek out new revenue streams all the time. We CAN compete with many Premier League clubs whilst living within our means and that is why I cited Everton. Of course they are a bigger club than us but they live within their means and still compete to a very high level. When Man City come calling with £20M + for a player they don't want to sell, they have to say yes because it would be madness to say no. However, they use that money wisely to ensure that they continue to challenge the best, and they have done so very successfully for a number of years now. So if some club come to us offering crazy money for Ryan then I'm afraid YES we probably do have to sell but, as long as we invest much of that cash wisely, we could actually improve the overall team/squad and become more competative. I really do believe that, along with a strong youth policy, this is the way our club intends to go and I believe it's the ONLY way to go for a club like ours. I am very optimistic about the future of this club.
Edit: One area of the club that does concern me is our current failure to exploit/utilise the overseas market where there would appear to be much better value to be had (Wigan being a classic example). I hope that the club are taking a serious look at rectifying this in the near future.
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Post by Deleted on Apr 21, 2010 12:02:25 GMT
Why do spurs get £1m from the begovich deal???
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Post by Alvechurch Assassin on Apr 21, 2010 12:21:38 GMT
I really feel for the fans, but this is just ridiculous - the club needs to fold and build again from non-league.
A lesson for everyone.
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Post by fromafar07 on Apr 21, 2010 12:45:54 GMT
who cares ??
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Post by dozintheseventees on Apr 21, 2010 12:50:04 GMT
Not so much 'cares' FAF but the rest of football really does need to take in the enormity of the folly at Portsmouth. Notice how little business has been done in the last couple of transfer windows and it's clear that clubs are (at long last) beginning to realise that they HAVE to live within their means. A Premier League club very nearly ceased to exist this season and they may yet go to the wall and we should all be taking that on board.
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Post by crowey on Apr 21, 2010 14:05:10 GMT
...thank god we have PC running the club as a good business man would - living within our means. Hopefully he will set up a structure within (out without) the family to ensure that this continues long term
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Post by keasie1863 on Apr 21, 2010 15:29:54 GMT
They should be relegated to league 2,it takes the piss out of the other well run clubs.what it says is ,just go out and buy some success and bollocks to everyone else,including your employees(apart from the players),stiff your contractors and you will be fine.Dont worry about all the hard working people behind the scenes,they dont count.im pissed off with people feeling sorry for them,i hope they go tumbling down the leagues,like one of my protein enriched turds.
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Post by Menorca Stokie on Apr 21, 2010 15:36:21 GMT
Doz, I agree totally. I was asking questions not stating what I think will happen. Maybe if we don't start looking at the foreign markets we should consider sacking the Pulis guy and get some experienced foreign coach in who knows the market better.  |
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Post by Targaryen Stokie on Apr 21, 2010 15:43:36 GMT
Yeah, let's just ignore what's happened to Portsmouth and let all our clubs in the Premier League carry on as normal. It won't happen again. Honest. |
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Post by Squeekster on Apr 21, 2010 15:57:20 GMT
Why do spurs get £1m from the begovich deal??? It looks like Asmir was included in a double deal with Younis Kabul to go to spurs though Asmir rejected the move and came to us but there was a million pound sell on clause in the deal which was invoked ! Now can someone tell me why when a player has never signed for a club then be invovled with a sell on clause when the player was never owned by them? |
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Post by lawrieleslie on Apr 21, 2010 16:31:32 GMT
If the creditors end up getting a paltry amount in the pound and the players get all of their wages then this encourages agents to sign obviously unsustainable wage deals and discourages anybody from lending to football clubs in trouble. ??? Administration in football makes no sense to me. 23p in the pound according to SSN. |
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Post by Deleted on Apr 21, 2010 17:42:39 GMT
Why do spurs get £1m from the begovich deal??? It looks like Asmir was included in a double deal with Younis Kabul to go to spurs though Asmir rejected the move and came to us but there was a million pound sell on clause in the deal which was invoked ! Now can someone tell me why when a player has never signed for a club then be invovled with a sell on clause when the player was never owned by them? that does not make any sense whatsoever! Paper money exercise? |
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Post by actongatestokie on Apr 21, 2010 19:05:40 GMT
I see our very own Jan De Koning is on the list of Trade creditors. Must have done a bit of scouting for them. Lindley Catering are also owed 468 quid. |
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Post by ChesterStokie on Apr 21, 2010 21:32:51 GMT
When you look at the creditors list in the Administrators Report it is really shocking.
Scandalous that they have been allowed to stay in the FA Cup, paying outrageous wages to players they cannot afford at the expense of all those creditors.
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Post by swampySCFC on Apr 21, 2010 21:52:47 GMT
It is fucking scandalous. For the first time Im for them getting fucked off and playing in the Afghan sunday League.
And fucking 'Arry has had a part in all this too.
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Post by sufolkstokie on Apr 21, 2010 21:53:41 GMT
Everyone should care because it isnt just Portsmouth -the next two to three years will show this to be the case and frankly you should care because it is the true club supporter who takes it in the neck - not just their ticket, but for pitys sake they couldnt even pay the local school who probably the supporters kids went to. Just because it isnt us now is no excuse. Not that it matters to you FaF but £51 for Man U away and £48 for Chelsea away in the economic climate shows where the footie world is going and yet the billions that are poured in to the Prem via tv rights - it does not add up at all. Quite simply any other business would be folded by now. It is now getting beyond the pale and is in danger of alienating generations of fans and demoting them to 3D subscribers - just look at the rubbish at Wembley re coprorate seats and as our national team we just shrug our shoulders at all the empty ones - it is totally wrong and will come to destroy the game |
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Post by Deleted on Apr 21, 2010 23:06:02 GMT
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