Vital Football

More brinkmanship or fact?

More brinkmanship or fact?

As fans us Pompey ones have been put through it more than most over the years have we not?

You can almost lose track of the amount of times we have been 'told', 'warned' or 'assured' that we only have a matter of months, days or weeks left in existence as Portsmouth Football Club, well the club as we know it anyway!

And that is in the past couple of years alone...

Once more we have been told, this time by an insolvency expert working with The PST's bid, that we have '5-weeks' left before liquidation will have to take place.

A cynic might think that The PST's bid is running out of steam maybe and this has seen the brinkmanship taken on by them this time? I do hope not (the fan owned model running out of steam thoughts is what I mean, brinkmanship by anyone is part of 'the game' it seems!) as a fan owned club is still one that I fully believe, as tough as it would be, offers us the best hope of this club eventually having a sustainable long-term future...

High earners moving on, and ideally some money coming in for them - albeit it 'nominal fees' is something that we know, and have known, for months needs to happen. Without a shadow of a doubt the current wage bill as it stands is not sustainable but then again was The PST bid, at least, not being put forward with this taken into account anyway?

It is still almost nailed on that a number of players, and I think we all know who, will still be here after this 5-week deadline and indeed into next season but I do feel, not that we can expect a 'mass exodus', that a few more players - so long as they drop their wages slightly (but will they?!) - will move on early in July as that is when clubs will start focusing more on who they want to bring in.

Will that be enough?

Now that is the sixty four million dollar question isn't it...

'Brinkmanship' is something that we have come to know inside out with Pompey over these troubling years, so again whilst I stress that the wage bill that we have is unsustainable will it really lead us to liquidation in a little over a month?

I am guessing no but the way this brinkmanship, which these latest thoughts almost certainly are even if there is some truth in them, plays with fans' emotions is awful though!

Liquidation leads to too many 'secured creditors' losing out on money, although they can pick the carcass from the selling off of any assets that they can extremely heavy losses would be felt and you cannot see that these creditors, one man in particular, will allow this to happen. This man, and again you know who, has always maintained liquidation would not happen.

I could be wrong but a rejection of the CVA - as I tend to think will be the case - would not necessarily then mean that was that either, right?

You could argue that the rejection of the CVA proposal, as odd as it might sound, would leave the owner - from a purely non-footballing sense - 'better off' really...

With this in mind, assuming this can happen, I have this strong feeling that the club would then be brought out of administration and taken over without a CVA, with the points penalty handed out as a result taken - where that leaves the manager is another matter! - as it would then be too close to the bone to risk the funds genuinely drying up without an owner in place. Once the funds do dry up completely that is when liquation simple must happen.

You would be foolish to blinker yourself off and say this (liquidation) will categorically not happen, as of course it could (the argument as to this being 'the better option' anyway will also rumble on), but too many signs - high and unrealistically unsustainable wage bill or not - tend to point to liquidation being avoided even if some of the thoughts shared are indeed fact and not all entirely brinkmanship...

PLAY UP POMPEY!

Join the Vital Pompey Debate

Vital Pompey on: facebook Vital Pompey on: twitter

Join the Vital Pompey Forum Debate



Click here to join in the debate on the club forum.

Writer:pompeyrug
Date:Saturday June 16 2012
Time: 10:20AM

Comments

0
Yes Rug it does seem to be the same thing again and again but the players deferred wages must be racking up more debts all the time and surely there is only a limited amount of time that the administrator will let this continue... 6-8 weeks? 8-10 weeks, who knows... but it will end with liquidation at some point if they arent moved on.
pompeyweller
16/06/2012 15:29:00
0
I think it is a wake up call to fans to back the PST from the PST's advisor. We all know the facts and we do not need PANIC!
eastneydave
16/06/2012 15:55:00
0
Yes it is a desperate call by the trust Dave; where's the business plan and who's going to execute it - or like last well , the week before and the week before that - " it's just being put together " or it's "about to be published" - although anybody who dares challenge these days gets bullied off - meet the new boss same as the old boss
russellm
16/06/2012 16:22:00
0
I think it is just one big old bore now!
paultsmouth
16/06/2012 17:54:00
Page 1/1
  1. 1

Login to post a comment

Recent Portsmouth Articles

Former Fulham winger challenged to earn a deal

Dean O'Halloran is another of those training, and on trial, with Pompey at the moment with the former Fulham winger looking to get himself a deal with the Blues.

Murphy to Hibs...Forde's Pompey delight

Murphy's next chapter could take Pompey's former Manchester City, Ipswich & QPR goalie to Hibernian with his (effectively he is) replacement from Millwall Forde 'delighted' to sign.

On this day in history...30th July

A look back at this day in history, and what was happening with Pompey courtesy of our sister site PompeyRama, 30th July.

Done Deal - Forde joins on loan from Millwall

Cookie was confident a goalie would be signed ahead of the season. What did I say the other day 'one in for Bristol City on Saturday'...sure enough Millwall's Forde has been confirmed.

Archived Vital Pompey Articles

Vital Pompey articles from

Site Journalists

pompeyrug
Editor email
Profile
eastneydave
Editor email
Profile
paultsmouth
no email
Profile
Chix
no email
Profile

Current Poll (see more polls)

Would you give Hollands a new deal?
Suggested By: pompeyrug
Yep, on the right terms51%
Nope, too expensive and we've got enough19%
I'll trust PFC to do the right thing!30%
ScoopDragon Publishing Entire League Network of Sites

League Table

# Team P W D L Pts. GD
1 Accrington 0 0 0 0 0 0
2 Barnet 0 0 0 0 0 0
3 Blackpool 0 0 0 0 0 0
4 Cambridge 0 0 0 0 0 0
5 Carlisle 0 0 0 0 0 0
6 Cheltenham 0 0 0 0 0 0
7 Colchester 0 0 0 0 0 0
8 Crawley 0 0 0 0 0 0
9 Crewe 0 0 0 0 0 0
10 Doncaster 0 0 0 0 0 0
11 Exeter 0 0 0 0 0 0
12 Grimsby 0 0 0 0 0 0
13 Hartlepool 0 0 0 0 0 0
14 Leyton Orient 0 0 0 0 0 0
15 Luton 0 0 0 0 0 0
16 Mansfield 0 0 0 0 0 0
17 Morecambe 0 0 0 0 0 0
18 Newport 0 0 0 0 0 0
19 Notts County 0 0 0 0 0 0
20 Plymouth 0 0 0 0 0 0
21 Portsmouth 0 0 0 0 0 0
22 Stevenage 0 0 0 0 0 0
23 Wycombe 0 0 0 0 0 0
24 Yeovil 0 0 0 0 0 0
Latest F1 News
Latest Vital Boxing News

Recent Portsmouth Results (view all)

Portsmouth Fixtures (view all)

Vital Members League Table

RankNamePoints
1.pompeyrug30
2.eastneydave14
3.Copnor4311
4.FrattonBlue9
5.PompeyFrippy8
6.mslorna484
7.chris19544
8.Jimsmithswig2
9.pompeyweller1
10.Lemmi1