Date:Wednesday February 22 2012
With administration comes the need to make cuts, and these cuts have begun today at Portsmouth Football Club.
A number of people who had worked for the club have sadly today been made redundant, the most high profile being David Lampitt - along with other board members.
This is never something (redundancies) that you want to see but like I say this was going to happen and as far as Lampitt goes, as much as I quite liked the guy, lets face it some of our latest highest earners came in under his watch and that should not have been allowed should it!
Also, with administrators coming in a CEO is not really needed, nor can it be justified can it...
The following statement was issued on The Pompey Site today.
Portsmouth Football Club Statement
Trevor Birch, Partner at PKF Accountants & business advisers and joint administrator of Portsmouth Football Club, today made the following statement:
"We have had no choice but to take the difficult decision to make a number of redundancies across all levels and departments within Portsmouth Football Club.
"Additionally, we are asking certain employees to defer wages on an ongoing basis and are asking several members of staff to move from a full-time to a part-time role.
"These measures are painful for everyone involved with the club, but they are essential for Portsmouth's survival, which is our main objective.
"They are in no way a reflection of the performance of the club's hard-working staff, who have remained loyal and supportive throughout this difficult time.
"Our initial analysis of the club's financial position has revealed that the situation is more serious than many people had expected.
"We have been brought in to try to rescue a business with significant financial problems. To put it bluntly, Portsmouth Football Club has a Premier League cost base but only Championship income. This is not a sustainable situation and one that needs to be addressed urgently if the club is to continue to exist.
"As things stand, there is a serious risk that the club could run out of cash within the next couple of months. I recognise that this is not the news that anyone wants to hear but burying our heads in the sand will not help anyone.
"Today's redundancies will make a difference to the club's financial position but there are sure to be further challenges ahead of us.
"Portsmouth's survival depends on us being able to find a buyer for the club before the money runs out.
"This is a great club with a proud history. We will continue to do all we can to secure a long-term future for Portsmouth Football Club. I hope that with the support of the staff, players, supporters and the wider community we can achieve this aim.
"Portsmouth needs the support of as many people as possible over the next few weeks and months. There are six home games coming up in the next five weeks so let's make every single one a sell out - starting with Leeds on Saturday.
"With this in mind, we have already started speaking to the supporters' groups and are meeting with fans tonight."
So, players have been asked to defer their wages, but will they?
Whilst they earn a fortune when all is said and done they are on contracts and are entitled to this money, They are like us - but to a far more lavish lifestyle - as they still have bills to pay, families to feed and lives to live, although you would like to think that the monies that most of these earn they could be in a position to defer wages for a while, right?
By doing this the working class member of staff, who realistically cannot go without their money, should still get paid.
Finding out exactly what people are 'owed' is a priority now!
The outcome of this could well determine our future as I continue to have the thoughts that 'if' we owe the secured creditors some £20m or so then I still find it hard to see how we can find a way out of this latest crisis...
I would like to finish by wishing those that have lost their jobs today all the best for the future and thank them for their service to PFC. Maybe one day some might be able to return, and may well wish to do so?
PLAY UP POMPEY!
Click here to make your prediction: Pompey v Leeds.
Vital Pompey on: Vital Pompey on:
Frippy's Virtual Bookies - here.
Date:Wednesday February 22 2012
On this day in history...24th May (Friday May 24 2013)
David Connolly joins the crusade (Thursday May 23 2013)
Not short of an option or two! (Thursday May 23 2013)
On this day in history...23rd May (Thursday May 23 2013)
On this day in history...22nd May (Wednesday May 22 2013)
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)
|SUFC Good news for McMahon
» Sheff Utd : 24/05/2013 21:09:00
|Swindon Town Accept Bristol City Flint Bid
» Swindon : 24/05/2013 16:28:00
|Caddis Deal Dead But Don't Expect Swindon Return
» Swindon : 24/05/2013 16:14:00
|Trio targeted by Alex
» Crewe : 24/05/2013 14:08:00
|Big future for keeper
» Crewe : 24/05/2013 13:55:00
|Rovers to visit
» Crewe : 24/05/2013 13:45:00
|Ricoh Return Ruled Out
» Coventry : 24/05/2013 13:18:00