Vital Football

So, what now?

So, what now?

As expected our £7m income from the latest bout of TV money was withheld by the premier league on Thursday and passed on to creditors.

Lets be honest we HAD expected this - in actual fact it is a good thing really as it ensures that this money, 70% of our £10m debt to premier league and overseas clubs was paid, we now need to come up with another £3m, how we do that only time will tell, but it would suggest a player or 2 will be sold?

A statement from the premier league said: 'the board has convened over the past two days to consider what action to take in relation to Portsmouth Football Club's football creditors and the distribution of broadcast fee payments that under normal circumstances would have been paid to the club this week.

'The board has decided, in accordance with Premier League rules, to pay those undisputed football creditors that were overdue at the time of meeting. This includes both domestic and overseas clubs.

'The board continues to work with the officers of Portsmouth FC to ensure arrangements are in place to settle all club liabilities as and when they become due.'

I have little doubt that the premier league will not go out of their way to help us, as I am sure they want shot of us - but we also, as a club, have to do more to help ourselves and it appears we are not doing enough of this at this time, but can we in the weeks ahead?

Will they do what they say they are trying to do for the club? If not I just cannot understand why they even bothered?

Unfortunately it appears that Pompey have failed to comment on this, apart from something on BBC sport that says the board are working 'extremely hard' to turn things around...

Our transfer embargo remains in place, talk of how long this will remain is not known although I would assume that until the premier league are happy with our explanation of things, that we can prove things that they want proven and show a steady cash flow this will remain the case.

As said the money being withheld is not a surprise in the least and the longer a decision took the more it seemed the embargo would remain in place - and so it has proven and this is a BITTER blow and leaves me totally deflated as a result. Not so much as it means we cannot sign players - even loanees and freebies, which we need to, it seems to suggest that they are still not happy with things and this only adds to thoughts many have that things are not being sorted...

The club has started to open up and talk more, but this latest setback will do little to appease the fans and tensions are bound to be high this weekend I would have thought. As said previously these words SERIOUSLY need to see some actions follow them - we desperately need to see some positive moves shown in the next week or so!

This month was always the month that would define so many things, midway through and still having the embargo in place is not a good start! I want to believe that things will turn around and want to believe what we are told but all too often it seems that everyone else is wrong apart from the club, and this cannot always be the case, can it?

I am bitterely disappointed that we have made no comment on this issue at all and hope that things will turn around as time is seriously running out. Rays of light are fading, but I guess we have to continue to cling to those diminishing flickers and hope they are not totally eclipsed...

PLAY UP POMPEY!


Bookmark and Share


Join the Vital Pompey Debate



Click here to join in the debate on the club forum.

Writer:pompeyrug
Date:Friday January 15 2010
Time: 12:40AM

Best of Vital Network

Comments

0
It's a long way down, down, down to Fizzy Town,
TergeHauge
15/01/2010 00:54:00
0
im just *****ed off oharas now going back to spurs and probley to one of our rivals,...
pompeyhussler
15/01/2010 00:58:00
0
How can you say there has been no communication, I read on Sky (I think) an article from Ali's brother saying the fans have been on their backs fince they took over which is only a couple of months, the club was in a mess due to previous owners and they need another 6 months to a year to sort it out and only then do you have the right to complain. Sounds fair enough to me.
GreenGiant13
15/01/2010 01:04:00
0
After the shambles we have had to put up with for what seems like an eternity we have every right to complain,only some of us do actually understand what the new owners are trying to do,and appreciate it takes time. But when you have the media sticking their noses in it does make you more jittery and on edge.
JASON R
15/01/2010 01:28:00
0
The Telegraph first highlighted the probability of the Sky revenues (7m) being withheld back in OCTOBER. It is now January... It is no good knocking the press.. We have been rudderless and 3 months is long enough to raise capital and sort it out.. We have been 'promised' all would be OK and that the transfer embargo would be removed by the club last November.. I question why these people bought the club in the first place if they had no capital of their own. They MUST have known the extent of debts. Lets face it, they were trying to buy the club back in June and surely they investigated the debt situation then? It would appear that when the time came to actually BUY the club after the failed ownership of Al-Fahim, circumstances had changed (backers pulling out) and they had no cash. It appears that the owner has no cash of his own and is just a figurehead.. That is why they have been scurrying around for the last 3 months for investors, BUT they have NOT BEEN HONEST with the fans giving false 'promises' of embargo being lifted, cash for Grant to buy players etc etc. It is quite evident now that they cannot explain to the Premier League how they can pay off the remaining 3 million of debts owed to other clubs this month and cannot give assurances how players will be paid on time (1.8 mlllion each month). So it has to be SALE time..or any way to cut costs.. No players signed (even loanees not allowed it would appear).. Expect Kaboul to be off.. I see Harry Redknapp is trying to help put by buying back Kaboul.. So the upshot of all? Definite relegation for s start... Gaydamak and the current owners will lose much if we go into administration.. or will they?...that's anther story.. Also the corruption at PFC with Storrie, Mandaric, Redknapp all on charges is another... I would personally like to thank our highly paid executive, Peter Storrie (reportedly on 1.4 million a year), for his efforts before he escapes to Australia, for promising we would be 'taken to a level you wouldnt believe'.. Pretty well paid for his judgements...
PompeyExile
15/01/2010 02:40:00
0
I see that Fahim has offered to give his 10pct of shares in the cub (reportedly worth 5 million going on zero now) to the fans trust.. He should offer them to the Premier league to cover the 3 million debt !!! Or cough up some of his 50 million he allegedly raised and originally promised to inject into the club... He, reportedly, has the 'club at heart' and it confuses me why the new owners have 'cast him adrift' by saying he is 'out of here under their own instruction'. If PFC needs backers to 'survive'... then Fahim and Gaydamak need their heads banging together.. selfish greedy bunch of liars?
PompeyExile
15/01/2010 02:55:00
0
Of course we have been told in the press by Gaydamak that there is no issue with the new owners and that the Israeli connection (lawsuits against Gaydamak's father by those that are now connected with the club and sit in the directors box) are 'just a coincidence' and he has no issue with them... So get together boys....and you Fahim.... But we all know the bull**** that comes out of Fratton Park and destroyed the good name of Pompey..
PompeyExile
15/01/2010 03:03:00
0
GreenGiant13, when i say 'no communication on this issue' i meant that the club has said nothing about the TV money, granted we knew it would happen, being diverted and the embargo staying in place - that is what disappoints me here big time...
pompeyrug
15/01/2010 08:02:00
0
Yeah but does Fahim giving his 10% share then mean the club trust end up with a responsibility for 10% debt of the club. I bet he is happy to 'give' them away, happy days for him and he can get the hell out of here. Keep hearing that Al Faraj has put in £40m since being here, but he hasn't put anything like that 'in himself', so Jacobs don't try giving us that load of old ****. Know doubt though in fairness that if he hadn't come in back in October we could well already be in administration. the buyers aren't clambering to buy us at the moment, and all these loans that we seem to be taking out will need to be paid back, and I bet they aren't on a 6.9% bank loan rate either.
blarmy
15/01/2010 08:16:00
0
Rug, you're not being realistic now and I believe you're verging on paranoia (the PL wants shot of us!). If from the start other financial backers were required then with the state of the club obviously they've withdrawn and the new owners have had an enormous uphill task. 'We want action now' - but what do you want? Neither of the AFs have the cash themselves and can't attract investment because Gay sold our assets (and our PL status?), our best manager scarpered, the ownership of PFC and surrounding land is a tangled mess, and the so-called 'best fans' are turning into a howling mob. We have a football team, let's support them and leave the 'behind the scenes' to those who know what's going on. We have no rights to be privy to that. I've supported Pompey through previous adversities - down to the 4th division and back - and will continue to do so despite the competence, or not, of the various owners. When the day comes that a fan sets out a constructive path to recovery and stops all this 'we want action' nonsense, I'll be first in the queue with my support. Until that day comes I will quietly pray that the current owners will eventually come up with the goodies. Amen.
PFCblue
15/01/2010 08:54:00
Page 1/2
  1. 1
  2. 2

Login to post a comment

Recent Portsmouth Articles

On this day in history...29th June

A look back at this day in history, and what was happening with Pompey courtesy of our sister site PompeyRama, 29th June.

Done Deal - Walsall compensated for Lalkovic

Milan Lalkovic has become Pompey's sixth signing of the summer. A compensation agreement with Walsall was agreed that has seen the former Chelsea winger join the Blues.

Solving that goalie quandary

I'm not sure our problem with finding a 'regular' no.1 last season was behind our failure to gain promotion from league two was it? Clearly it didn't help mind.

Pompey's attacking intent

Something Pompey (attacking intent) will look to show next season to get out of league two once and for all. Smith came in from Swindon last week but Cookie wants another striker.

Archived Vital Pompey Articles

Vital Pompey articles from

Site Journalists

pompeyrug
Editor email
Profile
eastneydave
Editor email
Profile
paultsmouth
no email
Profile
Chix
no email
Profile

Current Poll (see more polls)

Cookie has signed five player now. How many more until you are happy?
Suggested By: eastneydave
Just a keeper9%
Two 61%
Three 23%
Four7%
More0%
ScoopDragon Publishing Entire League Network of Sites

League Table

# Team P W D L Pts. GD
C Northampton 46 29 12 5 99 36
P Oxford 46 24 14 8 86 43
P Bristol Rovers 46 26 7 13 85 31
4 Accrington 46 24 13 9 85 26
5 Plymouth 46 24 9 13 81 26
6 Portsmouth 46 21 15 10 78 31
7 Wimbledon 46 21 12 13 75 14
8 Leyton Orient 46 19 12 15 69 -1
9 Cambridge 46 18 14 14 68 11
10 Carlisle 46 17 16 13 67 5
11 Luton 46 19 9 18 66 2
12 Mansfield 46 17 13 16 64 8
13 Wycombe 46 17 13 16 64 1
14 Exeter 46 17 13 16 64 -2
15 Barnet 46 17 11 18 62 -1
16 Hartlepool 46 15 6 25 51 -23
17 Notts County 46 14 9 23 51 -29
18 Stevenage 46 11 15 20 48 -15
19 Yeovil 46 11 15 20 48 -16
20 Crawley 46 13 8 25 47 -33
21 Morecambe 46 12 10 24 46 -22
22 Newport 46 10 13 23 43 -21
R Dag & Red 46 8 10 28 34 -35
R York 46 7 13 26 34 -36
Latest F1 News
Latest Vital Boxing News

Recent Portsmouth Results (view all)

Portsmouth Fixtures (view all)

Vital Members League Table

RankNamePoints
1.eastneydave16
2.pompeyrug15
3.Copnor4312
4.FrattonBlue9
5.Pompeyboosie6
6.mslorna485
7.Ronald Wilson5
8.Jimsmithswig3
9.storagematt2
10.Lemmi1