Pompey - Liquidation!

[Kenny]

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/9120108.stm

My Dad always says to me it will be like a pack of cards, if one club is allowed to fold then the deck will start to fall....

Should mean extra promotion places up for grabs filtering down the pyramid if this does happen?

 

[ibwiajwa]

Very, very worrying. In the current economic climate this is only the beginning.

 

[sammyboy]

disgusting! shouldn't be allowed to happen!

 

[BLUEBLOOD]

disgusting! shouldn't be allowed to happen!

More disgusting is the fact they piled up a £120m debt which they had hoped to pay only a fraction of, i feel sorry for the thousands of decent Pompey fans who'll be left without a club but Portsmouth FC as we know it is a sham club and must be liquidated

 

[southendkid]

Unfortunately something like this is needed to wake people up, a football club is a business, you can't keep spending money you don't have, but unfortunately I think its too late for some other clubs, and there's no guarantee we won't end up in this mess as well, it looks good at the moment but this is a reminder what can happen if we aren't careful

 

[Col.U. Mad]

Latest from the Administrators...

http://www.guardian.co.uk/football/2010/oct/22/portsmouth-administrator-claim

 

[OldBlueLady]

Latest from the Administrators...

http://www.guardian.co.uk/football/2010/oct/22/portsmouth-administrator-claim

Religion has a lot to answer for!

 

[Col.U. Mad]

I don't think even Ron could get away with that one :stunned:

 

[BrettieAngell]

I hope Gaydamak never goes near another football club ever again, although I wont hold my breath!

Doesn't look good for Pompey but I'm not massively shocked by this news.

 

[canveyshrimper]

I don't think even Ron could get away with that one :stunned:

I wouldn't be too smug mate, if Cowling pulls the rug then you may find Colchester will be in deep ****.

 

[EastStandBlue]

Sorry, but I feel little sympathy for the club that racked up £120m in debt, paid its credtiors a pittance and were then expected to be welcomed back into the League with open arms. The supporters deserve better, but the administrator wouldn't be in a position where they couldn't support the club's day-to-day maintenance if they were relegated two divisions.

With any luck, Portsmouth's liquidation, if it goes that far, will convince the Football League to adopt Germany's stance on wage budgets.

 

[OldBlueLady]

At a time when Rooney's just been given a wage of £250k a week, this all seems to signal that many, many other clubs will be ending up in similar circumstances. I think the strongest will survive at an elite level and will end up pulling away from the rest, hopefully we may revert to a better system with less emphasis on agents and earnings and more akin to how things were before Sky got involved.

 

[Pubey]

At a time when Rooney's just been given a wage of £250k a week, this all seems to signal that many, many other clubs will be ending up in similar circumstances. I think the strongest will survive at an elite level and will end up pulling away from the rest, hopefully we may revert to a better system with less emphasis on agents and earnings and more akin to how things were before Sky got involved.

Rooney isn't on 250k a week. His new deal is 150k a week and will rise to over 200k by the end of the 5 years. Don't hate the player, hate the game. But what would I know, I'm just a chauvinist.

 

[canveyshrimper]

Rooney isn't on 250k a week. His new deal is 150k a week and will rise to over 200k by the end of the 5 years. Don't hate the player, hate the game. But what would I know, I'm just a chauvinist.

To be fair looking at a couple of the more bellicose red tops they state catergorically that Rooney's deal is worth 250k per week. You are right it's not his fault it's what the game has become.

 

[Yorkshire Blue]

The likes of Tom Cruise, Brad Pitt, Mel Gibson, Matt Damon, Leonardo Di Caprio etc earn what, $30m per film?

Where's the vitriol for them?

Man U turnover £280,000,000 a year, their EBITDA is £100,000,0000. Whilst it is difficult to say how much of this is down to Rooney, that financial success is only possible thanks to the team on the pitch, of which Rooney is inarguably one of their best players, if not their best player. Plus I would imagine Rooney sells more shirts than the likes of Gary Neville, John O'Shea and Wes Ginger.

So why begrudge Rooney his share of that success?

 

[mattytheshrimper]

i feel for the fans but not for the club. they have got themselves into this mess buying players they couldnt afford and paying stupid wages. they actually made a nice profit on a number of players by quite a large margain aswell so someone at the top has to be to blame for all of this. i'm still sure something will happen to save them though.

 

[canveyshrimper]

i feel for the fans but not for the club. they have got themselves into this mess buying players they couldnt afford and paying stupid wages. they actually made a nice profit on a number of players by quite a large margain aswell so someone at the top has to be to blame for all of this. i'm still sure something will happen to save them though.

Living beyond their means is the case of the majority of football clubs, and I while my sympathies lie with the fans, in many ways supporters should also bear some of theblame. How many Pompey, Leeds or for that matter Southend fans cared where the money was coming from, and if push came to shove who would pay the piper? Pay a visit to other message boards and see the posts demanding that chairmen should get theircheque books out. If Portsmouth do go I hope their demise will give a salutory lesson to other clubs, although I doubt it.

 

[mattytheshrimper]

Living beyond their means is the case of the majority of football clubs, and I while my sympathies lie with the fans, in many ways supporters should also bear some of theblame. How many Pompey, Leeds or for that matter Southend fans cared where the money was coming from, and if push came to shove who would pay the piper? Pay a visit to other message boards and see the posts demanding that chairmen should get theircheque books out. If Portsmouth do go I hope their demise will give a salutory lesson to other clubs, although I doubt it.

your right there i do not believe either that other teams will learn from this either. but i do blame the stupid wages they are being paid out. even for standard average players the amount they earn is a joke.

 

[EastStandBlue]

Rooney takes home circa £250,000 a week because his wages are topped up with his image rights obligations. If United are going to plaster his ugly, potato-headed face on a lunchbox and charge some demented 12-year old kid from Surrey £12, then it's only fair that he gets a portion of it.

Besides, Rooney's wages aren't the case here because, evidently, United can afford them. Pompey could never afford the likes of Defoe, Crouch, James, Muntari et al without being supported by a wealthy backer, which culminated in their financial situation now.

High wages aren't the enemy, inaffordable ones are.

 

[canveyshrimper]

Rooney takes home circa £250,000 a week because his wages are topped up with his image rights obligations. If United are going to plaster his ugly, potato-headed face on a lunchbox and charge some demented 12-year old kid from Surrey £12, then it's only fair that he gets a portion of it.

Besides, Rooney's wages aren't the case here because, evidently, United can afford them. Pompey could never afford the likes of Defoe, Crouch, James, Muntari et al without being supported by a wealthy backer, which culminated in their financial situation now.

High wages aren't the enemy, inaffordable ones are.

I was under the impression that image rights are a separate issue and Rooney earns something like 750k from them. However as you say the club will in turn take their cut for any merchandising that bears his name or face, or in the case of Juicy Jeni a more intimate part of his anatomy.