Generic clubs in financial crisis Thread

[Wax Jacket]

Yeh you should only be allowed to complete your existing domestic league fixtures IMHO.

And if you're not sorted by next season you forfeit your place in the league.

that would need to be sorted by mid-June at the latest. You'd have a month to get it sorted after the end of the season. would make the race for the pla-offs and extra revenue even more tense

[soggy biscuit]

Rangers administrators say they can't find where £24m has gone that was lent to the club

[soggy biscuit]

Strathclyde Police confirm they have been passed information regarding Rangers finances by former chairman Alastair Johnson


Milan Mandaric contacts Rangers administrators to show an interest in taking over. LOL

[Royal Rother]

Rangers administrators say they can't find where £24m has gone that was lent to the club

Do they not do double entry accounting in Scotland?

[Terminal Boardom]

Heard on BBCR5L this morning that Pompey could enter Administration today. Just how will they cover the terms of the current CVA?

[Pepe the Horseman]

Pompey have gone into administration

[exileinleeds]

Suggestions of a 20pt deduction. No news yet if AA is to be the administrator.

[Pepe the Horseman]

20 point deduction would be perfection.

[Friday's Legacy]

Suggestions of a 20pt deduction. No news yet if AA is to be the administrator.

in all honesty that is the least they should get.

it's the second time they've entered administration in 2 years.
the players haven't been paid this year.
the club haven't paid their gas and electric bills for god knows how many months.
etc
etc

[TFF]

20 point deduction would be perfection.

I would do a little dance.

[Who Moved The Goalposts?]

Suggestions of a 20pt deduction. No news yet if AA is to be the administrator.

They'll get the 10 points, stay in the division and start next season as if nothing ever happened. Justice my arse.

I wonder if there is any way HMRC can appeal against the appt of Andronikou as administrator. Not only is the current fiasco mostly down to his inability to err on the side of caution rather than sign 20K per week players seconds after the last CVA, isn't the fact that he's adminstrator of CSI a conflict of interests?

[exileinleeds]

Being reported now that Pompey in court say the CVA has been restructured to 10p in the £. HMRC says FIRST I'VE HEARD OF IT!!

[Who Moved The Goalposts?]

Being reported now that Pompey in court say the CVA has been restructured to 10p in the £. HMRC says FIRST I'VE HEARD OF IT!!

Absolutely out-fukcin-rageous if true.

[exileinleeds]

BC has £500k to "help"


...but will only donate/loan it if AA is appointed not the HMRC choice (can't remember the name- ex-Chelsea bloke)

[Tony Le Mesmer]

Being reported now that Pompey in court say the CVA has been restructured to 10p in the £. HMRC says FIRST I'VE HEARD OF IT!!

Is that why they face further points deductions? For breach of the exisitng CVA?

[Who Moved The Goalposts?]

BC has £500k to "help"


...but will only donate/loan it if AA is appointed not the HMRC choice (can't remember the name- ex-Chelsea bloke)

Exile, where is this info coming from?

[exileinleeds]

Being reported now that Pompey in court say the CVA has been restructured to 10p in the £. HMRC says FIRST I'VE HEARD OF IT!!

Is that why they face further points deductions? For breach of the exisitng CVA?

I believe there is an automatic extra penalty for admin twice in 7 years. There is some debate, Pompey fans believe it will only be 10 because the PL is NOT THE SAME AS THE FL.
Leave that one to the experts.

The existing CVA- not my area of expertise (obviously) - but if Pompey are somehow attempting to reduce the amount AGREED from £16m to £8- then the creditor affected, should of course be consulted. HMRC are indicating this hasn't happened.
If this is the only way they can be seen to be solvent- then the judge has some decisions to make...

My guess is that if AA is appointed, then the creditors HMRC/US the taxpayer are basically shafted. Again.

Edit: I have a live link from Pompey News- and Sky TV in the office....

[exileinleeds]

Trevor Birch is the HMRC choice of administrator if anyone is familiar with him?

[TFF]

Being reported now that Pompey in court say the CVA has been restructured to 10p in the £. HMRC says FIRST I'VE HEARD OF IT!!

Is that why they face further points deductions? For breach of the exisitng CVA?

I believe there is an automatic extra penalty for admin twice in 7 years. There is some debate, Pompey fans believe it will only be 10 because the PL is NOT THE SAME AS THE FL.
Leave that one to the experts.

The existing CVA- not my area of expertise (obviously) - but if Pompey are somehow attempting to reduce the amount AGREED from £16m to £8- then the creditor affected, should of course be consulted. HMRC are indicating this hasn't happened.
If this is the only way they can be seen to be solvent- then the judge has some decisions to make...

My guess is that if AA is appointed, then the creditors HMRC/US the taxpayer are basically shafted. Again.

Edit: I have a live link from Pompey News- and Sky TV in the office....

Presume as HMRC didn't have a big enough slice of debt to block the original CVA I'm guessing they couldn't really do much to stop an amendment should the other creditors accept it.

That they weren't even informed, given that they do have a place on the creditors' committee, is staggering.

[exileinleeds]

Mandaric not interested in buying Rangers...

"I am aware and shocked at the media reports today linking my name to an inquiry over the potential purchase of Glasgow Rangers Football Club," he said in a statement. First and foremost, I can categorically deny that there is any substance to these stories and I am disappointed that such articles are printed without any foundation whatsoever. I have never had any dialogue or contact to anyone relating to Glasgow Rangers. Glasgow Rangers is a huge football club with a great heritage and history, but I already have that that here at Sheffield Wednesday. For clarity, I have not instructed any of my associates to register an interest in the administration process at Glasgow Rangers and I have no interest, now or in the future, of becoming involved in the club."