Generic clubs in financial crisis Thread

[Comfortably Numb]

Is it insensitive though? If they go bankrupt, he loses a lot as well. Anyway, oxf*rd 'em

[Compo's Hat]

Would be such a shame if i didn't have to see this prat or hear those stupid chimes on tele ever again.

[Geekins]

Sol Campbell suing Portsmouth for £1.7m for unpaid bonuses and image-right fees.

I've never like Sol, but now he's the best defender i've ever seen if he pulls this off.

[Terminal Boardom]

Apols if anyone has already posted this. It refers to the record debt that Manchester United have.

http://news.bbc.co.uk/2/hi/business/8470595.stm

This made me smile:

Despite the debts, the club turned a profit of £6.4m for the year

And that purely because they sold the winker Ronaldo.

Why are football clubs allowed to get away with this level of mis-management?

[East Grinstead Royal]

When Portsmouth in their current form go pop and reform as Portsmouth AFC, from which division or level of the pyarmid do you think they will they have to start again from? Ryman Div 3 (or whatever it is currently called) like Aldershot and AFC Wimbledon?

It is the small non-football creditors and the admin office staff etc that I feel sorry for.

Aldershot (and Maidstone) were unable to find anyone to buy what was left of the club and were therefore unable to complete their fixtures which meant expulsion. AFC Wimbledon was a completely new club. I imagine that someone will strike a deal with the administrators at Portsmouth which will probably mean a points deduction but they will carry on in whatever league they are in at the time.

[Terminal Boardom]

When Portsmouth in their current form go pop and reform as Portsmouth AFC, from which division or level of the pyarmid do you think they will they have to start again from? Ryman Div 3 (or whatever it is currently called) like Aldershot and AFC Wimbledon?

It is the small non-football creditors and the admin office staff etc that I feel sorry for.

Aldershot (and Maidstone) were unable to find anyone to buy what was left of the club and were therefore unable to complete their fixtures which meant expulsion. AFC Wimbledon was a completely new club. I imagine that someone will strike a deal with the administrators at Portsmouth which will probably mean a points deduction but they will carry on in whatever league they are in at the time.

At risk of repeating myself, the Premier League will not allow one of their own to go to the wall.

[Stranded]

Agreed, they will find some way to help them limp to relegation first.

I take it the FL would have it in their remit not to accept Pompey as a member if they were relegated, if they felt it prudent?

[Mr Optimist]

I agree that PL will take care of its own.

Again, at the expense of repeating myself but only until they are the Football League's problem.

[TBM]

If thats the case, why have the PL kept Pompeys TV money??

[papereyes]

If thats the case, why have the PL kept Pompeys TV money??

I didn't think they did - I thought they gave it to the parties owed money by Portsmouth.

[TBM]

Portsmouth are also in dispute with the Premier League, which has imposed a transfer embargo because of unpaid debts to creditors. Last week the League distributed £5 million of a £7 million tranche of broadcast revenue to creditors including Chelsea and Tottenham, but held back the balance.

[papereyes]

Fair enough. I understood wrong.

[TFF]

http://www.skysports.com/story/0,19528, ... 70,00.html

Danny Webber has ruled out a loan move away from Portsmouth in January and insists he is happy on the South Coast.

The Pompey striker has made just three starts this term, all coming in the Carling Cup, since signing on a free transfer in the summer.

The former Sheffield United frontman has come off the bench six times in the Premier League but is still to find the back of the net in the top flight.

The 28-year-old admitted that he was desperate to play first-team football but was confident he could secure that at Fratton Park under Avram Grant.

"I've never really thought about moving away, but I am really enjoying my time here and it is just a case of getting minutes on the board now," he told skysports.com.

"I'm happy at Portsmouth with the challenge in front of me, so I don't think that a loan would help a great deal.

"I'm being paid squillions by these mugs and I'm staying until the gravy train crashes"

[PieEater]

Sol Campbell suing Portsmouth for £1.7m for unpaid bonuses and image-right fees.

He may have a hard time claiming for image rights unless he can prove Pompey actually got some money from his pictures.

[wolsey]

Sol Campbell suing Portsmouth for £1.7m for unpaid bonuses and image-right fees.

He may have a hard time claiming for image rights unless he can prove Pompey actually got some money from his pictures.

According to Sqwarksport the "Image Rights" element was a tax dodge - he was on £60k per week split 50/50 between salary and "Image Rights" with the latter being paid gross to an offshore trust to avoid tax liability (for both employer and and employee)- says it all about both parties really.

They deserve(d) each other.

[PieEater]

No wonder the taxman is pissed off with them if that's their usual arrangement with players.

[Huntley & Palmer]

No wonder the taxman is pissed off with them if that's their usual arrangement with players.

It's exactly what most clubs did in the PL, certainly Arsenal made financial arrangements for players with respect to their wages. It all blew up in their face four years or so ago

http://www.timesonline.co.uk/tol/news/u ... 576436.ece

[wolsey]

No wonder the taxman is pissed off with them if that's their usual arrangement with players.

It's exactly what most clubs did in the PL, certainly Arsenal made financial arrangements for players with respect to their wages. It all blew up in their face four years or so ago

http://www.timesonline.co.uk/tol/news/u ... 576436.ece

I think PieEater's comment stands for the Revenue "Aggressive" stance towards all Football clubs

(although how long, bearing in mind the Arsenal being the example given, that we have the pleasure of Spacey posting his normal drivel)

[Whore Jackie]

He may have a hard time claiming for image rights unless he can prove Pompey actually got some money from his pictures.

Shots of him and Matthew Taylor would have been worth a bit.

[Dirk Gently]

http://www.skysports.com/story/0,19528,11095_5873770,00.html

Danny Webber has ruled out a loan move away from Portsmouth in January and insists he is happy on the South Coast.

The Pompey striker has made just three starts this term, all coming in the Carling Cup, since signing on a free transfer in the summer.

The former Sheffield United frontman has come off the bench six times in the Premier League but is still to find the back of the net in the top flight.

The 28-year-old admitted that he was desperate to play first-team football but was confident he could secure that at Fratton Park under Avram Grant.

"I've never really thought about moving away, but I am really enjoying my time here and it is just a case of getting minutes on the board now," he told skysports.com.

"I'm happy at Portsmouth with the challenge in front of me, so I don't think that a loan would help a great deal.

"I'm being paid squillions by these mugs and I'm staying until the gravy train crashes"

Confident in the knowledge that the football creditors rule means that when they go tits up he'll get 100% of the money he's due, whilst the bloke down the road who supplies the pies or prints the programmes will probably get something like 2p in the pound.