Portsmouth

[Fivex]

I deleted it, I think it was supposed to read 'LFC 44 points' - or 47 if we win tonight. Either way, if they go out of business and all results are nullfied, we could be three points behind the Mancs if we win tonight and they lose at Villa

It's on.

[Vermilion]

I deleted it, I think it was supposed to read 'LFC 44 points' - or 47 if we win tonight. Either way, if they go out of business and all results are nullfied, we could be three points behind the Mancs if we win tonight and they lose at Villa

Hopefully the judge is a Red.

[Vermilion]

Arsenal have played and beaten Pompey twice already..

[Kenneth]

So what is the rule? The points are wiped if they go bust before when?

They coud go into administration today and still go under.

[Craig_H]

It'd be ****ing mental if, after our ridiculous first half of the season, this somehow puts us suddenly into the title race

[Kenneth]

It'd be ****ing mental if, after our ridiculous first half of the season, this somehow puts us suddenly into the title race

Don't think 11 points behind Chelsea would put us in the title race tbh.

[Craig_H]

Don't think 11 points behind Chelsea would put us in the title race tbh.

That's why i said 'if'.

Although, if Chelsea didnt beat Everton and we beat Arsenal, with the Pompey points thing taken into account, it'd be 8 or 9 points wouldnt it?

And we have Chelsea to come to Anfield too, not to mention going to Old Trafford and still to play City & Spurs.

[Craig_H]

Oh dear, it just gets worse.

HMRC are claiming that Pompey actually owe them £11m - £4m more than the figure Portsmouth were declaring.

HMRC have told the High Court that Portsmouth are insolvent.

Logically, you have to think they're gone. But in terms of awkwardness, i'm sure the football authorities would desperately want them to be allowed to finish the season.

[Craig_H]

Portsmouth have been given a 7 day adjournment.

So they live for another week.

[-V-]

I really don't see a way out for them. Not unless that Gaydemach fella makes a return as he's owed about £28m. They have virtually no assets on their playing staff, already sold all their good players

[Kenneth]

Anyone know the reason for the adjournment? Suggests the judge believes that the situation in the club could change significantly before then.

[Kenneth]

"Portsmouth have succeeded in their attempt to have a winding up order issued by Her Majesty's Revenue & Customs adjourned. An adjournment of seven days has been granted.

Portsmouth, who are around £60m in debt, were reported to owe the taxman a bill of £7.5m. However, HMRC said in the high court today that the tax owed stood at £11.5m and that the club are insolvent.

Portsmouth were reported to have told the high court that they had two serious offers to buy the club.

Sources on the south coast said Portsmouth had offered to pay around £3.7m plus future television income to HMRC in order to avoid becoming the first Premier League club to enter administration. That offer was rejected.

Portsmouth are five points behind Wolves (and six points away from safety) at the bottom of the Premier League after last night's 1-1 home draw with Sunderland."

http://www.guardian.co.uk/football/2010/feb/10/portsmouth-hmrc-high-court-ruling

Guess it could be that.

[Kenneth]

Even so, surely administrators should be appointed to find buyers, not the current club management. I am pretty sure most businesses owing so much to the revenue would be put in control of administrators by now.

[Craig_H]

Their case wont be heard by the court until 19th February at the earliest.

They're gonna drag this out til the end of the season, for sure.

[S-RED]

They won't be able to drag it out; unless they find a new investor, willing to pump in around 50mill for no return.............


At the end of Feb they won't have the money to pay wages & no substantial form of income. If they survive until then that'll be the death knell