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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!


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The Journalist

Writer: pompeyrug Mail feedback, articles or suggestions

Date:Friday January 15 2010

Time: 12:40AM

Your Comments

It's a long way down, down, down to Fizzy Town,
TergeHauge
im just *****ed off oharas now going back to spurs and probley to one of our rivals,...
pompeyhussler
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
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
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
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
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
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
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
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
It is looking increasingly likely that we shall go into administration, as presumably if the owners really had any money (or access to other people's money), then they would have produced it before now in order to get the embargo lifted and/or avoid having to sell our remaining key players. So the question is: when would be the best time to go into administration (and suffer the 9 points deduction)? From what I remember of the Southampton case, I think there was a deadline, after which the deduction would be in the FOLLOWING season, which might make it difficult even to survive in the Championship. Does anyone know what that deadline is? Meanwhile let's get behind the team on Saturday. PUP.
erithacus rubecula
On paper, Pompey fans are merely consumers of entertainment in the same way that people who go to the pictures are consumers of film entertainment and if the films are crap they just don't go any more. On that basis, we have no RIGHT whatsoever to insist on anything at all. HOWEVER, away from the "on paper" business, football clubs are embedded into the culture of their communities and if they are treated as market commodities, you get community dissatisfaction in a completely different way to that generated by other forms of entertainment. The fact that this is a surprise to the board (and of course it probably isn't a surprise to the board) would indicate concerns about their fitness to be in charge of something which they can't contextualise. Politics! Dontcha just love it!
hammersmithblue
erithacus rubecula...what sort of name is that...an anagram? we are dead in the water..the club is dying, bleeding to death. The disease is the same disease that infects football through out, and has been around for a long time, its like AIDS, it weakens and weakens until there is nothing left. The finances and crooks taking advantage of the vast amount of money available.from Man Utd to Abramovich to every robbing agent and the SKY tv implentors of this debarcle that was the working mans game...its a joke, its a hurt deep in inside because of the almost matrimonial affection we have for our club...and this is not a divource or an infidelity...its a death caused by drink drive minibus on a bender carrying REDKNAPP MANDARIC GAYDAMAK AND SON THE TWO ALF'S UNCLE PETE,PINI ZAHAVI AND SOME OTHER HANGERS ONS. PORTSMOUTH FC-RIP a grat ship scuttled.
plymouth graham
http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8460880.stm uncle pete on nicky campbel show this morning... it's all too depressing
plymouth graham
p g - Sorry you don't like my pen-name. (It's actually the Latin scientific name for a small bird that shares its common name with me). However, I did ask a serious question. If we are to go into administration, is there a deadline after which the points would be deducted in the following season (regardless of whether we are relegated)?
erithacus rubecula
Thats why this protest on saturday should be going ahead they are a bunch of liars. We need them to sell the club to someone with the money. Why would anyone want to invest there money with these bunch of lieing crooks. We need them out of pompey now. Hit the nail on the head plymouth graham. We need everyone to show up and protest at the current owners, we cant hurt our club anymore than they are at the moment, i am sick to death of there excuses and dealines they keep saying. We will have investors by middle of next month then its two months three months..... etc. Lets face it nobody trusts these guys to lend them any money, not unless they have something to put it against... ie fratton park (which has already been sold to the highest biddder). Come on guys there full of it and you know this!! NOTHING IS GONNA HAPPEN, WE WILL GO DOWN AND DOWN AND DOWN UNTIL THEY SELL. I dont want more communication any more they have had there time, they will just feed us more bull, like they did a couple of days ago saying the tranfer embargo would be lifted and what a surprise when it wasnt. False promises from the moment they walked through the door. THE END !!
evildwarf
Blue, when i say that about the premier league i mean - and i do not think it is paranoid - that the 'best league in the world' has taken an absolute hammering this season, with pompey apparently at the heart of so much of it, so that is why i feel they will be delighted if we go down this season and suspect, as much as they can, they will be keen to keep this embargo in place as they know as well as us that with others likely to go we need some players in to have any hope...
the premier league would be glad to see the back of us, of that i have no doubt at all!

erithacus, i think the date is something like 9th march? if you go into admin before that date it counts for this season i think that it can count for this season after if you think you can escape relegation by doing this - but only if the points deduction would mean you go down as a result, if you would stay up anyway they save it until next season. i could be wrong of course!
pompeyrug
oh and as for the actions, i mean this in as much as we are hearing alot more - which is good - but assuming things really are happening we cannot see them happening, so some physical signs that things are would help ease some tensions and relax others, this is what i mean by actions.
pompeyrug
erithacus rubecula..i di'nt say I did'nt lke it...i just did not understand it...i thought it was an anagram..bob bob bobbing along....actually I LIKE IT
plymouth graham
Have to agree Rug. The EPL's actions smack too much of "rubbing salt in the wound" to be much else. We're talking a measily $3 mil here - chump change in football circles. (And this just in from the people who brought you THE FIT AND PROPER PERSON TEST !!!) I'm sure having Pompey out of the picture would hide at least some of the most visible aspects of how this league's financial structure is a complete house of cards. With us in it or not, the EPL faces a day of reckoning in the near future in my view. Beating up on Pompey rather than trying to assist a member club in hard times will bring its own karma. PUP
Toronto4Pompey
 

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