Vital Football

An end to administration is in sight

An end to administration is in sight

Exiting administration, and having a new owner, 'should' be concluded within the month according to what Admin Andy has told The News today.

The football league will meet on September 9th where it is 'expected' to approve the CVA agreement in place, which would then mean the club can come out of admin, be taken over - almost certainly by Balram Chainrai - and then have the transfer embargo lifted.

Admin Andy also said that the £15m that Chainrai was making available to help us through admin was not needed, with the administrators able to get the running costs of the club down to £8m during the past 3-months when the Vantis report said we would be looking at £12m per month.

Exiting admin and 'trying' to get this club back to 'normal' is the priority, and once we are able to see this we can 'hopefully' start looking forward again, although for this the club MUST be run properly with the right, and not the wrong, things taking place!

The right is most definitely ensuring the structure of the club is right, to help us become more 'self-sufficient', and we live within our means.

The wrong is clearly lavish spending on transfer fees, wages and 'bonuses' for players, and staff, that are unrealistic and well beyond our means!

All of the above might mean 'less success', but as we have already seen success has come at a BIG price for us - the chance of having a 'second chance', although technical it would be a third as we have been in admin before, is something we have to appreciate and make sure that the same mistakes do not happen again.

I know this means that we will 'miss the transfer deadline' at the end of the month, but lets face it we WOULD NOT and SHOULD NOT be spending money on players anyway, free agents and loanees are the ONLY way for us to go, and we 'could' still go down that route next month, and the months after...

The transfer window, as far as loans goes, remains open in the football league I believe so with the new 25-man squad rule coming into place in the premier league there will be a number of players without 1st team football - I am sure that many would send out players on loan, to the likes of us, and better still I also 'think' that they would do this and cover most, if not all of their wages, as it would benefit them, as well as other clubs, in loaning these players out.

So, lets just prioritise things really.

This season 'probably' will be a struggle, but we were expecting this anyway! I have to say, even with depleted numbers, if we continue to offer what we have so far, and see the players offering what they are, that will do me and WOULD at the very least keep us up, and that is all I ask from this season...

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  • Writer:pompeyrug
    Date:Thursday August 19 2010
    Time: 10:13AM

    Comments

    0
    Wonder if we can get O'Hara back in. I noticed he didn't even make the squad for Spuds at the weekend??
    blarmy
    19/08/2010 10:27:00
    0
    The dates are as the CEO had said before. What's all this 'we' and 'us' from AA? At what stage does he do an exit?
    PFCblue
    19/08/2010 10:27:00
    0
    I see in Tim's article in the forum he'll be on the 'sidelines' for the next 3-4 years.
    PFCblue
    19/08/2010 12:15:00
    0
    i reckon that the 25 man rule thing will benefit us, and other clubs in our league true enough, as for Jamie O'Hara...i suspect he did enough to get into a squad in thye EPL and there would be absolutlely no shortage of takers.
    plymouth graham
    19/08/2010 14:26:00
    0
    Its a big relief to see some light at the end of what has been a very long, dark, dank tunnel indeed.
    tracyc
    19/08/2010 20:48:00
    0
    I reckon Spurs are going to make O'Hara pay for what he said on the lead up to the Cup semi. He'll probably languish in the background all year. What a waste.
    gandor1
    19/08/2010 21:03:00
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