Date:Thursday May 27 2010
As I have previously said, until we know the outcome of our CVA I cannot really see how much else, in fact anything else - bar selling players - can happen?
We cannot bring in players because we remain under a transfer embargo, and morally we should not spend money anyway - not forgetting financially could not anyway, but I still think we should be limited, assuming the CVA is approved, to nothing more than free transfers and loans as HOW can you justify palming off creditors with 20p in the £ over 5-years to then go out and spend money! Even if we could do any of that without an owner or manager this is not possible.
So, nothing can happen until the CVA is agreed, which 'fingers crossed' it will be...
We have known for the best part of a month now that the CVA was 'agreed in principle,' these proposals will finally be sent out to the creditors by the end of this week, either today or tomorrow.
Then we await the response from these creditors and 'hope' that they officially agree to these terms at the creditors meeting that Admin Andy, when talking to BBC sport, says he hopes will take place on Friday 18th June: 'we hope to hold a creditors meeting to vote on the CVA on 18 June.
'We've had a dialogue with the major creditors, including Her Majesty's Revenue and Customs to prepare the groundwork.'
As long as 75% of these unsecured creditors agree to the 20p in the £ terms then it is done, we have the CVA agreed and can come out of administration.
Although DO NOT be fooled into thinking 'that is that' by any means!
The long battle to get on a level playing field begins, and getting back to a 'breakeven point' is a MUST, and this, if done properly is going to take several years - but with a sound business plan, and a club run in the right way, and within its means and looking after the right people, in time I feel this club can become self-sufficient and even make money. This MUST be done in the right way though as said!
Until there is some more clarity about the club season ticket sales will remain slow, so far something like 1,000 have gone since they went on sale 10-days ago, so 100 tickets per day are being sold.
The club expects this to pick up next week when many people are paid, but seeing what is actually happening with the club is likely to impact on many peoples minds too, so lets hope that all is agreed, and agreed by the 18th June date now being spoken about - inroads into moving forward, and getting things in place for next season can happen, and it is essential that this can happen without a 10-17pts penalty, which will apply if we cannot get this CVA agreed...
PLAY UP POMPEY!
Date:Thursday May 27 2010
Reaping the benefits of 1st team football (Tuesday May 21 2013)
On this day in history...21st May (Tuesday May 21 2013)
Scunny winger becomes latest Pompey signing (Monday May 20 2013)
Winger signing imminent? (Monday May 20 2013)
On this day in history...20th May (Monday May 20 2013)
On this day in history...19th May (Sunday May 19 2013)
Pompey predictions league - winners! (Saturday May 18 2013)
On this day in history...18th May (Saturday May 18 2013)
Sullivan brought in to replace Eastwood (Friday May 17 2013)
On this day in history...17th May (Friday May 17 2013)
|Upson Hoping To Be A Surprise Package
» Yeovil : 21/05/2013 23:21:00
» Yeovil : 21/05/2013 23:15:00
|Johnson Named Manager Of The Year
» Yeovil : 21/05/2013 23:10:00
|Foster To Join Rovers?
» Tranmere : 21/05/2013 23:03:00
|Moore Talks Transfers
» Tranmere : 21/05/2013 22:58:00
|Rovers Announce Pre Season Fixtures
» Tranmere : 21/05/2013 22:54:00
|Midfield Duo Also Join Up
» Stevenage : 21/05/2013 22:36:00