Portsmouth Issued Winding-Up Petition

[Manny]

With the whole Harry Redknapp and Milan Mandaric case going on in the courts, this is probably the last thing Portsmouth fans would have wanted.

Portsmouth have been issued with a winding-up petition by HM Revenue and Customs over an unpaid £1.6m tax bill.

The club's chief-executive David Lampitt told BBC Radio Solent on Saturday that Pompey had failed to meet their last two payments of £800,000.

Portsmouth are currently searching for new owners after their parent company, Convers Sport Initiatives (CSI), entered administration in November.

Italian businessman Joseph Cala pulled out of a deal to buy Pompey on Friday.

BBC South understands that any purchaser would need to provide £12m as proof of funds, and assurances they could meet another £20m in repayments to former creditors, Balram Chainrai and Alexandre Gaydamak.

http://news.bbc.co.uk/sport1/hi/football/16706372.stm

[Big_Sharps]

Well this is a shock, a finacially stable club such as Pompey to be in this kind of trouble makes me think it could happen to anybody.

[Squidgy]

 People argue that TV money improves football by bringing money in and attracting better players. It may be alright for the bigger clubs that have non localised fan bases and can generate income, but what about the small town clubs?

TV money has fúcked football and all the plastic Mancs and Scousers and the likes still think is the dogs bollocks, retards.

[Squidgy]

A Pompey mate of mine thinks they can just get shut of one player and it'll all be sorted.

Anyone on their books worth raping them for?

[Big_Sharps]

A Pompey mate of mine thinks they can just get shut of one player and it'll all be sorted.

Anyone on their books worth raping them for?

Not really if I am honest.

[Quiroga]

Serves em bloody right.  If they thought it made financial sense to give old twitchy jowels 5 - 10% of all profits on transfers thenno wonder they couldn't afford their tax bill.  Football is just bonkers these days - no point in taking it too seriously

[Jimbo]

If we didn't have aload of right backs, including a young-un, I'd take a punt on Joel Ward for cheapo. He's decent, and young.

Jason Pearce is half-decent, would take him for a few hundred thousand and we can ship Zatyiah back to Landan with Big Sam.

Not really anyone worth taking tbh though. I'm sure a few Championship clubs will take easy pickings.

Ben Haim is still on something like £38,000 a week despite them being relegated, going threw several owners and adminstration. Dunno how he's managed it. Same with Kanu, how the hell is he still at the club? He must be in his fifties now.

[Malcolm Everett]

What a difference a few years make. Redknapp had built a fantastic team there a few years ago with the likes of Lass Diara (now at Madrid), Crouch, Defoe, Kaboul, Glenn Johnson, David James, Sol Campbell, Muntari, Krancjaer etc, etc, they really looked like becoming a real force in English football.
They seemed to do a Leeds United under Ridsdale, spend crazy amounts of money to really compete but for some reason it all went pear shaped. I am surprised the sales of players like Diara for £20m, Glenn Johnson for £18m, Defoe for over £10m, Crouch, Muntari, etc didn't sort their finances at.
I am sure they won't fold though.

[Paul Comstive]

The big money sales didn't save them because they were all big money purchases in the first place.  They would have also paid them huges signing-on fees to join in the first place and paid them huge wages.

Anyone with half a brain knew that, at the time, something was amiss and ultimately it'd end in tears.

It's the fans I feel sorry for. 

Let the be a lesson to the mongtards who constantly have a pop at Gartside for not throwing money around on transfers like confetti.

[Squidgy]

Let the be a lesson to the mongtards who constantly have a pop at Gartside for not throwing money around on transfers like confetti.

This, so much this it is unfuckingbelievable.

[H. Pedersen]

I think you'll find the majority are actually having a pop at Gartside for throwing money around like confetti on players with zero resale value.

[Squidgy]

I think you'll find the majority are actually having a pop at Gartside for throwing money around like confetti on players with zero resale value.

I don't see any difference between ourselves and Pompey as clubs, if anything they have better support.

Whatever anyone's feelings on Gartside we can probably thank him for still having a stadium to play in, let alone at premiership level.

[Paul Comstive]

I think you'll find the majority are actually having a pop at Gartside for throwing money around like confetti on players with zero resale value.

In which case they are even more "special".

This has happened, as far as I can remember, once.  That was Elmander.  The same Elmander who was shíte for the first two years of his three year contract.

If he'd have been given another three years after the second year, Gartside would've been given grief for that.  In the case of Elmander, it really was a lose/lose situation for everyone but the Swede.