Vital Football

A very important day

A very important day

When I turned on my phone this morning those were the words, 'a very important day', awaiting me in a text message - and I would not disagree!

So, we know that we have to get our statement of affairs into the courts by this afternoon, quite what can happen as a result, either way, seems to be quite a matter of debate.

Some seem to think that, so long as we at least get some documentation in, then we are safe until the March 1st court date regardless.

Although I would think, not that I am sure by any means, that should the judge/HMRC be 'unhappy' with this then a court date can either be fast tracked or they, the judge, would have the power to act themselves?

'If' that were the case then they 'might' be able to send us into administration - something that The Guardian 'claims' we have applied for anyway - at best, at worst would she have the power to wind us up before a court meeting was needed again? Then again The Express says we will apply for this 'should' we not beat Stoke and Burnley.

On the plus side, should this statement of affairs please everyone, and some proof on an investor also be seen with clear evidence of their investment plan that would clear the HMRC debt, among others - something, the HMRC debt, we MUST do! Argue the amounts after, but payment by the set date is a must - then the next appointed court date would become a mere formality, right?

Again, as said, I do not really know what is what, I would be lying if I said otherwise - although in all honesty I would find it odd that 'if' this paperwork did not satisfy people, or if it did for that matter, that they would be unable to, in the coming days, take actions and we would have to wait regardless for the March 1st date.

'Should' The Guardians admin claims prove true then of course this means any outside hopes of premier league survival are gone - this is the least of our worries though lets face it, yet a large chunk of debt owed to people would be written off, meaning a 'potential saviour' would take on less debt - something no creditors would be happy with of course, yet some of the larger amounts 'should' fall significantly, some people will be burnt for sure...


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Date:Wednesday February 17 2010
Time: 8:17AM


Everything is crossed - not much work being done today
17/02/2010 08:31:00
Got to admit; i'm for the Admin route. Get rid of the fear of obliteration, know our fate for next season, get a new owner in. Get on playing some football. Living with the fear we face the executioner tomorrow or the next day or the next day, has virtually killed football for me. Football wise i've been depressed for months! I just want to take stock, know where we're heading and start the next chapter...
17/02/2010 08:47:00
I can't claim to know any more than the next man, but as far as I am concerned today is only a day to see if we are required to go to court on the 1st of March or not. Nothing else will happen today, I am almost certain of it. Of course the decision will be that we go to court.
17/02/2010 08:51:00
Ps. All I care about is our future as a Club...Stuff what it makes the Global PL brand look like!
17/02/2010 08:58:00
Yep with you all the way Penton. It's the having hope & seeing it rammed down your throat that hurts. Quite resigned to relegation but a better future because of it, providing there is a new positive owner.
17/02/2010 09:12:00
Chin up boys. It must be awful facing potential extinction but like you say maybe the best route is to get the admins in, restructure the club, sell off the players/management on ridiculous wages and bounce back next year. Your club has been managed by a bunch of ****s and it's about time your fans got a management team who treat the club with the respect it deserves. Play up Pompey!
17/02/2010 10:16:00
Today is important, make no mistake if Vantis say we are trading insolvently; an offence by the way, things could be accelerated. I thinkweare relegated anyway( as much down to tactical error as anything else) if course if we take 7 from the next 9 things could be different but in the mean timeit's hard to believe some one will buy ( noting papers are not picking up street rumours yet) even with 20 something mill of parachute payments over the next two seasons. Admin and being infamous seems preferable
17/02/2010 10:18:00
Not much will happen today. Just confirm court date. Like a site has said it may depend on whether we win the next two games. Although it will be very tough to beat both stoke and burnley. Stoke have been doing really well all season and our defence will leak like a sieve. So i predict that we will eventually go into administration before March 3rd, get a new owner and get relegated. Perhaps this is the best route, for we really can only afford to play in the championship with the present facilities at the club. We need someone to come in and build a new stadium before we go up again, otherwise it will always be a struggle. It just amazes me that previous owners and the council didnt put there heads together and build a new stadium. Anyway lets hope we beat stoke on saturday, going to be really difficult, has got draw written all over it. Avram needs to play attacking style with belhadj on the left, abeyie on the right and utaka up front with either dindane or Piquonne. I think those players will cause alot of problems for defenses and it will be a case of scoring more goals than the opposition if that sounds right?? Because our defense is woeful at the moment.
17/02/2010 11:26:00
That's the important point Russell - we have to prove we're not trading insolvently. As so far no-one has rushed in with cash I should think we're in that position. Perhaps Chainrai is guaranteeing our debts behind the scenes or, hopefully, that new owner is about to sign up. Winding-up would be the end of the line for me but administration could mean a bargain buy for someone.
17/02/2010 11:34:00
As a matter of interest does anybody know what happens to the parachute payments? Will Pompey get them or will they go to creditors? I assume that as they will be made after admin they'll go to Pompey?
17/02/2010 11:40:00
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