Topic: Portsmouth FC out of Administration

[Dubit10]

Definitely. They were in a FA Cup Final in 09/10 and won one in 2007/08 and yet only a few years later they could go bust. Ridiculous. Surprised this isn't getting more attention.

They are trying to bury it hoping it will go away. A lot more Portsmouths out there also.

[Matt S]

Went to the game yesterday - general feeling was they were prepared for it being the last game. I'm still struggling to see how it can happen, it effects so many people!

My mate still has his job, I guess he counts as playing staff but surprised they're still keeping the academy going to be honest. He hasn't been paid in a few months - don't know how hes surviving! And there is plenty more where he comes from.

I think I'll try and get to the rest of the games provided the club is still around & I'm not in L'pool. They could use the support.

[rafathegaffa83]

Relegated. Will they even play next season?

[helen the llama]

Chanrai to come back in?
Or is that two bidders potentially Chanrai,  and the Supporters Trust?

[On Axis]

Chanrai to come back in?
Or is that two bidders potentially Chanrai,  and the Supporters Trust?

Chainrai is still owed 19mil from Portsmouth, he's merely protecting that by buying the club. If they're liquidated, no money for him. Hope they find a buyer, Birch says they'd exit administration in July if bought by Chanrai

[Immoral King Brian Blessed]

I thought the ship had settled, but apparently not and they could be gone in 2-3 weeks.

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

[CornerFlag]

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

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."

Sounds like they're doomed sadly.  Testament to what can happen at a club not run right.

[Barneylfc]

I thought the ship had settled, but apparently not and they could be gone in 2-3 weeks.

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

Was literally just about to post this. Madness considering where they were a couple of years ago. FA Cup winners and minutes away from beaten AC Milan in the UEFA Cup.

[rafathegaffa83]

Was literally just about to post this. Madness considering where they were a couple of years ago. FA Cup winners and minutes away from beaten AC Milan in the UEFA Cup.

Yeah won the FA Cup not even five years ago. The same year incidentally that Rangers were in the UEFA Cup Final. Both could be gone by the end of the summer. Madness.

[rafathegaffa83]

Portsmouth 'two weeks' away from liquidation after contracts impasse

• Eight senior players have club's survival in their hands
• Portsmouth 'not crying wolf,' says administrator

    Dominic Fifield   
    guardian.co.uk, Monday 23 July 2012 12.17 BST   

The administrator at Portsmouth has warned that the 2008 FA Cup winners may be "two weeks" away from liquidation with eight senior players still no closer to agreeing settlements on their contracts.

Pompey were deducted 10 points when they returned into administration last season and were relegated to League One, where they will begin with a further 10-point penalty. Their season starts with a derby against Bournemouth on 18 August, though the administrator, Trevor Birch, told members of the SOS Pompey supporters' group that liquidation is close and the club are "not crying wolf".

The manager, Michael Appleton, technically still has a squad of 12 players of whom eight are seniors who must be moved from the books or accept significant pay cuts if the takeover offer on the table, from the former owner Balram Chainrai, is to be accepted. Birch has implemented a £5,000-a-week salary cap at Fratton Park in an attempt to prolong the club's existence – the excess money owed would be paid at a later date if liquidation is avoided – but long-term progress would require players such as Tal Ben Haim, who earns £36,000-a-week, accepting a compromise or completing a move elsewhere.

Five of the senior players being asked to move on or accept a cut were greeted by members of SOS Pompey at the club's Eastleigh training ground on Monday morning where the fans attempted to hand over an open letter. David Norris, Greg Halford and Erik Huseklepp accepted the letter, while Dave Kitson, having initially thought the group were journalists, later re-emerged from the training centre to apologise and speak with supporters and take the letter. Ben Haim, who apparently also thought the fans were media, did not stop.

Of the other three players, Luke Varney is close to a £300,000 move to Leeds United – that fee will go to Derby County, who are still owed money from the striker's move to the south coast – while Liam Lawrence was absent for family reasons. Nwankwo Kanu is in Nigeria but has formally lodged a claim for £3m in back pay with Pompey. "Kanu has served the club notice that he wants to leave but, before doing so, he wants the money he says is owed by the club," said Birch to ESPN. "These players hold the survival of the club in their hands.

"I must stress it is not their fault as the players didn't get the club into this trouble but they do now have the ability to get the club out of this mess. The problem with everybody is that this club has cried wolf so often that no one believes it will happen, no one believes they will go out of business but they will in two or three weeks. It is that serious now.

"The trouble is 'Portsmouth fatigue' but the truth is that the club is now fighting for its life. The club is heading for liquidation in just a few weeks, perhaps two weeks if these players don't leave or compromise on their wages."
http://www.guardian.co.uk/football/2012/jul/23/contracts-portsmouth-liquidation?newsfeed=true

[cox3100]

probably be cheaper and a better option long term if they tried to sell all their players(for as much or as little as they can get)and just play there reserves or youth(if they have any)probably mean relegation,but could save the club long term

[rafathegaffa83]

probably be cheaper and a better option long term if they tried to sell all their players(for as much or as little as they can get)and just play there reserves or youth(if they have any)probably mean relegation,but could save the club long term

Think that's what they are trying to do, but problematically for them, some of those players aren't going to want to leave. Nobody else is going to pay the likes of Tal Ben Haim £35k+ a week

[Y2J]

Think that's what they are trying to do, but problematically for them, some of those players aren't going to want to leave. Nobody else is going to pay the likes of Tal Ben Haim £35k+ a week

Yeah but then again, if the club is liquidated, players like Kanu & Ben Haim will never be paid the amount of money Portsmouth owes them. It is better to accept a pay cut and go elsewhere than find yourself jobless in 3 weeks time and try searching for another club where it is difficult doing so in your age anyway.

[MrGrumpy]

This is high stakes brinksmanship. As football creditors must be paid in full, any last minute bidder (one will almost certainly appear, we have seen this before) will need to cover all their money as a condition of takeover.

The likes of Kanu and Ben Haim will almost certainly never get another wage as big as this, as both are near the end of their careers, you can kind of understand why they are holding out for their money. Carney, Halford and all were if I am not mistaken signed after Portsmouth came out of their last administration?

[rafathegaffa83]

Yeah but then again, if the club is liquidated, players like Kanu & Ben Haim will never be paid the amount of money Portsmouth owes them. It is better to accept a pay cut and go elsewhere than find yourself jobless in 3 weeks time and try searching for another club where it is difficult doing so in your age anyway.

True. I think Ben Haim would probably find someone to take him on at a reduced rate. Kanu less so. £3m in unpaid back wages is a ridiculous amount of money. Just as ridiculous as the fact someone sanctioned a contract that enabled him that much money in the first place, which is why Portsmouth are in their current situation

[Kovai Red]

Dont the players like these have any kind of sympathy for the club which paid them till now. Shit attitude by these lot. They can obviously get some good contract in MLS or China where they can be paid this kind of money. It is not the club is having the money and refusing to pay them. The club doesn't have that and these lot know the facts and still they hold out for money. How sick are these players?

[rick287]

Kanu less so. £3m in unpaid back wages is a ridiculous amount of money. Just as ridiculous as the fact someone sanctioned a contract that enabled him that much money in the first place, which is why Portsmouth are in their current situation

[On Axis]

I'd blame Peter Storrie more than Harry. All the money ran through him and he jumped ship before it all kicked off.

[robbie keane]

I really hope Pompey bite the bullet and start again under Fan ownership. They are fighting a losing battle right now, rather than struggling for the next 5 years just to stay afloat they would be better off starting again with a 10 year plan.

[ChaChaMooMoo]

There was an article I remember reading on Pompey's growth, the FA cup success in 2008 and subsequent relegation. More like what went wrong and where.

I remember reading it around last October but cant seem to find it now. Does anyone have it?

[Crosby Wych]

It's not the manager's fault, it's the chairman's for authorising it

[On Axis]

August 10 is the deadline for Pompey's fate. What a mess that'll be if they close up shop right before the League One kicks off.

http://www.bbc.co.uk/sport/0/football/18977953?utm_source=twitterfeed&utm_medium=twitter

[keano7]

Just announced that they have to get rid of their seven remaining senior players (via transfer or wage cut) by August 10th or they'll cease to exist. Final nail in their coffin.

[Zeb]

Good luck to them. Their fans got properly shafted. Hope they can save the club in some form. Would be good if the players could find a way to keep them open. You'd think players wouldn't want to go down as the ones who had the club closed down so they could pick at the bones of what was left.

[rob1966]

Good luck to them. Their fans got properly shafted. Hope they can save the club in some form. Would be good if the players could find a way to keep them open. You'd think players wouldn't want to go down as the ones who had the club closed down so they could pick at the bones of what was left.

Most footballers and their agents couldn't give two fucks for the clubs or the game itself, its all about the money. to be honest, most are thick as fuck anyway so I don't expect anything else from them.

[oojason]

Don't worry - Harry is going to phone Kanu and have a word with him...

http://www.guardian.co.uk/football/2012/jul/25/harry-redknapp-portsmouth-finances-help


Harry Redknapp has revealed that he will attempt to help save his former club Portsmouth from being shut down. Pompey have been set a deadline of 10 August by administrator Trevor Birch to have their finances in order or face going out of business.

The club's former manager Redknapp plans to speak to Nwankwo Kanu, who has lodged a claim for £3m in pay, to see if he can persuade the former Arsenal and Portsmouth striker to compromise.

Redknapp told ESPN: "I will be ringing Kanu today to see if there is anything I can do. I signed him for Portsmouth on a one-year contract and Tony Adams told me: 'You must be mad, he is finished.' Six years later, he is still there."

The defender Tal Ben Haim is also owed a similar amount in wages and Redknapp added: "In the case of Tal Ben Haim, if players have a contract and are owed money, you can see why they think they should get it. But if the club closes down they won't get a penny. They need to think hard about that."

Redknapp spent five seasons at Fratton Park between 2002 and 2008, guiding the club to a momentous FA Cup win in 2008.

"Portsmouth has got to be saved. It's a great club with great traditions," Redknapp added. "It would be a disaster if this club went out of business.

"It has great fans to the extent that, if you live in Portsmouth, you are a Portsmouth supporter. If you walk around in that town, you don't see people wearing Manchester United or Arsenal shirts.

"It is soul-destroying to see them in this predicament, and there must be a group of people out there or someone who could take over the club so cheaply and save them.

"I would love to see someone do that. Surely it cannot happen that Portsmouth go out of business. If someone did come in, the club could be resurrected quickly. It wouldn't take a lot to get it going again.

"I remember when Milan [Mandaric] came in and bought the club all those years ago, they were looking to lock the gates then and go into administration – but he turned it all around and made it work.

"When he sold the club, it spiralled out of control. Balram Chainrai put a lot of money in, but he must think it is the worst investment he ever made in his life. But now it just needs some people who understand football and who can work with the players."

[Devastatin' Dave]

Managed to get down to 5 players now;
Huseklepp
Laurence
Ben Haim
Kanu
Kitson


What confuses me is that the likes of Halford and Huseklepp were bought last summer, for £1m and £1.5m respectively. If they were in such a dire situation, why were they spending any money at all on players?

Even after their initial problems, the running of the club has been a complete shambles.

[Malaysian Kopite]

Soul-destroying huh. Maybe he should have thought about that wen he was getting 10% of every players sale as Pompey DoF.

[On Axis]

Huseklepp is gone now too. Off to Brann.

I can see Lawrence and Kitson leaving but it'll be tough getting rid of Kanu and Ben Haim.

[Immoral King Brian Blessed]

So when they get rid of these players, who will play for them, youth team?

[El Denzel Pepito]

So when they get rid of these players, who will play for them, youth team?

Be interesting.

A couple of my mates' brothers play for the Portsmouth academy and they've been told they'll form a part of the first-team next season if they do still exist.

[blacksun]

So when they get rid of these players, who will play for them, youth team?

The rumours down here are suggesting that there is a buyer lined up but they want all the big earners gone so if they get rid of them he will take over and they would then have some money to pick up players for that levels earnings.

[rafathegaffa83]

Dave Kitson quits. So now they just have Tal Ben Haim and Liam Lawrence left.

[anfieldpurch]

Dave Kitson quits. So now they just have Tal Ben Haim and Liam Lawrence left.

wheres Kanu gone? Hope they manage to get moves for the remaining 2 players soon. Awful if their greed costs the club it's existence

[Y2J]

Kanu quit last week. Hope the other players aren't greedy although it seems Ben Haim wants to get his full money from the club. I still can't see how they'll line up next season with no senior players in their squad.

[anfieldpurch]

Anybody think that the F.A would allow free agents to play for them on a "pay as you play" or voluntary contract? Should they survive

Aren't they under an embargo to stop them signing players too?

[Agger]

it seems Ben Haim wants to get his full money from the club.

But how do you solve that? It seems like they got two options;

1. The players agree to a big pay-cut - club lives on.
2. The players don't agree to a pay-cut - the club is finished, and the players don't get their money because they're are none and the club is no more.

Or do they have some security from other parts that will make sure they'll get their money?

[Y2J]

But how do you solve that? It seems like they got two options;

1. The players agree to a big pay-cut - club lives on.
2. The players don't agree to a pay-cut - the club is finished, and the players don't get their money because they're are none and the club is no more.

Or do they have some security from other parts that will make sure they'll get their money?

It's exactly like what you say.

[Le Jake]

Greedy fuckers. Its not like they haven't already made millions from football, Tal Ben Haim especially. Should be ashamed of themselves.

[Barneylfc]

Tal Ben Haim is a c*nt