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The anxious wait goes on

Yep, the anxious wait to find out what the future of Portsmouth Football Club will be goes on and we will not find out what the outcome is until later this afternoon now!

Sky sports news is reporting that the case has been adjourned until 2pm...

I think finger nails will have been chewed down to the fingers by now, so by the time we know the outcome of whatever is happening we would have chewed halfway down our arm!

A cash offer was this morning rejected though.

UPDATE

Sky sports news now saying Portsmouth high court case decision imminent.

UPDATE

The latest breaking news from sky sports is that Pompey have told the high court that we have received TWO serious offers to buy the club and clear our debts

HMRC has also told the high court that the club is insolvent...

UPDATE

HMRC say that we owe them 11.5m, not 7.5m!

PLAY UP POMPEY!


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The Journalist

Writer: pompeyrug Mail feedback, articles or suggestions

Date:Wednesday February 10 2010

Time: 12:03PM

Your Comments

Cardiff & SouthendsCases have been adjoured for 28 days!
PompeyFcMad
They apparantly rejected the cash offer because we had no plan as to how & when we would settle the balance.
storagematt
Cardiff and Southend owed alot less than us plus Cardiff payed some money yesterday. I don't understand why the inland revenue accepted part payment from Cardiff but turned us down. Got everything crossed that it gets adjourned for 28 days and we get the money.
moley2
Mad does that mean that we can win another 28 days? I think that by then we will have our next owner.
Pompey Malta
This is such a killer. How long should such a hearing take?
sneakay
If it gets adjourned would the Irish/American consortium who are supposedly interested pay the bill?
moley2
Probably all done for the media Sneakay!
moley2
Judge having a nice boozy lunch somewhere I expect
hammersmithblue
Now being reported it's to be held at 1.00pm
PFCblue
Let us hope. If this goes our way, I am sure that we will have a new owner, the players will be settled and the battle for survival goes on.... and then we pull off another great escape!
Pompey Malta
Sky Sports News says the decision is imminent
moley2
whatever the outcome just get it over with stop twisting the knife into the fans.
Steve C
WTF - I am soooooooo on tenter hooks .. been in a fould mood all day.. I just want this over .. if they are gonna kill us off then just get on with it .. this is torture !
Chix
Just incase you guys aren't aware, 'The NEWS' is blogging live from inside the court room: http://www.portsmouth.co.uk/custompages/custompage.aspx?pageid=81654
frattonchorus
We are insolvent apparently
moley2
Apparently Cardiff paid 1M and have 28 days to find another 1.5M. PUP
NorfolknBlue
The news blog is slower then pie eating lambert!!!
pompeymart1965
if we can PROVE that these 'serious offers' are on the table, even with us currently being insolvent then we would not be wound up, would we?
pompeyrug
Well looking quickly here and other blogs etc there are fans all around the world waiting on this decision. There are certainly some majot arguments going on.
eastneydave
The payment plan is simple. Say we pay what we can afford now, they withdraw the winding up order we start selling season ticets which will just about pay the wages (hopefully) for the next few months. And we agree to pay the rest with parachute payments in August.
stooH
Who knows Rug, but I think it's got to the point where unless the money is on the table they won't be interested.
moley2
why hasnt chainrai paid off the 7.5m to then be refunded from the 'would be' new owners...
pompeyrug
11.5 mil WTF!!!!!!!!!!!!!!
moley2
Fark me 11.5 million the customs want now- 4 mill interest in a few weeks *****e
pompeymart1965
I keep writing things and then deleting. We must stay positive, we have to get 28 days, it would be daft in the light of two new buyers. We've owed the money for ages, 28 days won't hurt.
gandor1
HMRC say we owe 11.5 million.
JASON R
Who the hell wants to watch the bloody Scottish FA CUP draw!!!! I can't handle this anymore. I swear they will go for an advert break to add to the tension just before the decision is announced!!!!!
moley2
I saw that 11.5 .. but thought we paid 4m of that .. hence why 7.5 was being quoted
chix
True Gandor. They either get nothing today or nothing in 28 days........ or maybe the full amount by then if they really are serious offers!
pastyman72
It's been adjourned ... not sure for how long !
chix
Yeah,there will be an advert for a loan!!!!!! Maybe we could apply?
pompeymart1965
Nigel Hood, representing Pompey, told the High Court: 'Two offers have been received from serious purchasers for the club to buy the club and pay off the debt.'
chix
Order was for 7.4m though.
eastneydave
It has been adjourned for seven days.
chix
What about cash for gold, we could turn Peter storrie upside down and see what he has!
moley2
At least we can play Scummers now .. roll on NEXT Wednesday ... not !
chix
Repeat It has been adjourned for seven days I'm going for a fag ..
chix
If these offers are serious then surely we have nothing to worry about do we?
moley2
I hate to say it but this just feels like a stay of execution. I think the fag idea was the best one today Chix. Gonna join ya!
pastyman72
Statement of affairs have to be provided in seven to nine days. Earliest court appearance 19 February
eastneydave
19 Feb .. that's next .. Friday ?
chix
What I want to know is why have these serious offers only come in on the day we could have potentially been liquidated?
moley2
had an article up on this within minutes of it breaking - http://www.portsmouth.vitalfootball.co.uk/article.asp?a=187781...
move the talk into that one now :-)
pompeyrug
If they 'really' exist at all.. in fairness though moley they have been touted around for about 10 days now
chix
eye eye skipper..
chix
According to Storrie on the Quay tonight, the reason for the discrepancy between 11m and 4m is that we are disputing 7m of the money. As far as I can recall, the 7m is the VAT that we have been charged for our foreign transfers, and Pompey are disputing that. Our major problem is that we will be creating a precedent if we win, cos it will open the floodgates for all clubs to claim back the VAT they have paid on their foreign transfers. So HMRC are going to fight it tooth and nail. Don't quote me, but this is how I understand it. Storrie let it be understood (but never actually said) that we had offered to pay the 4m yesterday but that HMRC weren't having any of it.
Gandor1
 

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