Portsmouth finished?

[baitman]

Yup. 2 laps is plenty.

[Chazza]

Portsmouth near liquidation, say fans group SOS Pompey

Portsmouth supporters group SOS Pompey say the financially stricken club are approaching closure and have called on the remaining players at Fratton Park to be "part of history" and save them.

The club have eight senior players left on their books and their salaries are preventing a takeover of Portsmouth.

Unless they leave Fratton Park or take a pay cut the club could be liquidated.

"This is the end game for Pompey, in a couple of weeks it will be over," SOS spokesman Bob Beech told BBC Solent.

In June, Portpin agreed to complete its purchase of the club on condition the wage bill was reduced through player sales and compromise agreements.

But administrator Trevor Birch has so far been unable to achieve sufficient savings by this strategy alone.

Pompey's senior players

Portsmouth cannot afford to keep any of their eight contracted players - Tal Ben Haim, Greg Halford, Erik Huseklepp, Dave Kitson, Liam Lawrence, David Norris, Luke Varney, Kanu

On Friday staff at the club were told they face being made redundant and in an interview on Sunday Birch said Portsmouth were "two to three weeks away from closure".

SOS Pompey presented the club's senior players with a written plea at Fratton Park on Monday in an attempt to make them compromise on their salaries.

Several of those players stopped to listen to them, but others including Tal Ben Haim - who is said to be on £36,000 a week refused to acknowledge them.

"Some players were excellent and stopped to listen to what we said, others as expected weren't interested and drove straight on," added Beech.

"At the end of the day, they have contracts and they expect those contracts to be paid and that is not an unreasonable stance for them to take.

"But the well is dry and if they stay and keep their demands going then there will be no club and they will end up with nothing."

Beech is bitter at Pompey's ongoing crisis but still believes the players could save the club.

"Trevor Birch has to save the club and people could lose their livelihoods as a result," he said.

"That is scandalous because the people who put us in this mess are still clinging to the wreckage and claiming millions of pounds off the club.

"But the players could still be part of history and save this club."

http://www.bbc.co.uk/sport/0/football/18958234

[CJ]

not SOS

[Gibbo]

Ben Haim has left.

[RichC]

Team last night started with 9 teenagers in their starting 11 with only 3 subs and finished the game with all of them on the pitich under 18

Obviously lost, the club is never going to come back from this is it.

[Chazza]

They need to get the ownership sorted quickly to give them any chance.

Chainrai is trying to get the administrators to drop their fees before securing the clubs future.

Also saw an interview with Appleton saying the playing staff budget has been cut from £4m to around £1.5m.

[Chazza]

Oh dear, just seen on SSN that Chainrai has pulled out.

Now they are in the **** big time.

[Kenneth]

Trust or bust.

[ChesterDave]

Football league confirm Portsmouth to be deducted another 10 points when they come out of administration - putting them firmly in the relegation zone.

Seems a little harsh to continually punish the same club because the FA's fit and proper person test is the biggest pile of steaming horse****e ever.

How is that Balrog Channai allowed to even consider bidding again? Why are the FA not telling him to do one

[Chazza]

What a mess.

Portsmouth set for Royal Courts of Justice hearing

By Nabil Hassan
BBC Sport

Portsmouth's administrator Trevor Birch heads to the Royal Courts of Justice on Thursday warning that the club could be liquidated if Fratton Park is not sold to Pompey Supporters' Trust.

Administrators PKF are hoping a judge will rule in their favour and force Balram Chainrai to release his charge.

Chainrai is owed £12m by the club and holds Fratton Park as security.
"Liquidation is a real possibility if the PST is unable to complete its bid," Birch told BBC Sport.

Portsmouth have been in administration since February are said to be £61m in debt.

The case will be heard at the Rolls Buildings of the Royal Courts of Justice on Thursday and Friday, with the verdict expected later that day.

PKF have agreed the conditional sale of the club to the PST - but it is based on the Trust being able to purchase Fratton Park.

Former owner Chainrai controls the stadium - through his company Portpin - and the Hong Kong-based businessman has also tabled a bid to take the club over for a third time.

Chainrai will not attend Thursday's hearing, with Portpin being represented by law firm Walker Morris.

"The purpose of the hearing is to ask the Court to give the administrators permission to sell Fratton Park, which is currently subject to a mortgage in favour of Portpin," added Birch.

"The Court will also, at the same hearing, determine the 'market value' of the property after listening to expert witnesses.

"If the Court agrees with the value that the PST has placed on the property, then a sale of the club to the PST can proceed very quickly.

"It is impossible at this stage to predict what will happen if we lose because there are so many variables."

The PST has had Fratton Park independently valued and offered Chainrai £2.75m for the stadium, but he has refused to sell.

Chainrai has previously described the PST's bid for the club as having "no substance" believing his firm, Portpin, was the only bidder with the "experience and money to return Portsmouth to its glories".

However, Chainrai has since suspended his bid for the club.
On Monday the Football League said they will approve the PST as owners if two areas can be resolved.

Those two areas are "the outcome of the current High Court proceedings relating to the ownership of Fratton Park" and "the PST raising the remaining funding from supporters that is anticipated in its business plan".

Insolvency expert and member of the Portsmouth Creditors' Committee, Carl Faulds, says there are three likely outcomes on Friday when the judge gives his verdict.

"One, he [the Judge] says 'yes, sell the freehold to the Trust', so end of story, deal done," Faulds told BBC Sport.

"Two, he says 'sell the freehold to the Trust but satisfy Portpin of some other points'.

"Or three, 'no you can't sell the freehold to the Trust', in which case the Trust deal probably collapses."

Faulds has predicted "a bit of a dust-up" over the two days with both parties (PKF/PST and Portpin) "throwing mud at each other" as the nine-month battle for control of the club looks set to finally come to a conclusion.

"We don't know what everyone is going to argue on the day but Portpin, no doubt, will be employing some expensive lawyers, as will the administrators," added Faulds.

"So when expensive lawyers go head-to-head they can throw all sorts of things into the argument. I think it will be a bit of a dust-up and do think they will be throwing mud at each other.

"I believe Portpin are looking at not just the freehold, they will be looking to what else has happened in the administration, and whether they (Portpin) think they have been treated fairly throughout the administration.

"They will possibly try and tarnish the administrators' conduct and will throw whatever kind of argument they can into the pot to get the judge to effectively not support the Trust's bid.

"It could be a complicated argument on the day but I think the judge will boil it down to a few core points and then make an announcement on Friday when the arguing is finished."

Who is who in Pompey saga
PST - The Supporters' Trust hoping to buy Portsmouth Football Club.
PKF - The administrators dealing with the sale of Pompey.
Portpin - Former owners of the club led by Balram Chainrai who are also vying for control of Pompey.
Walker Morris - Law firm representing Portpin/Chainrai.
Sacha Gaydamak - Proprietor of land around Fratton Park owned through Miland Developments.
David Rubin & Partners LLP - Administrators of Miland Developments.

http://www.bbc.co.uk/sport/0/football/20665933

[Captain Stu]

How much **** can one club take?

[Tee]

How much **** can one club take?

Depends on the number of toilets they have and the efficiency of their drainage system really.

[Captain Stu]

Depends on the number of toilets they have and the efficiency of their drainage system really.

[lickedlollipop]

i really feel bad for them, and i dunno why.

[Lee]

i really feel bad for them, and i dunno why.

Because the fans and players are being punished for the absolute ****-ups at boardroom / ownership level.

It's a ****ing disgrace.