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Four outcomes that will shape Pompey's future



As far as I see it, there's four possible avenues the club will go down within the next few weeks. And all of them will determine the club's future.

Outcome 1: Liquidation.

The worst possible outcome (obviously). This, as far as I can see, will come around if a controlling vote of the creditors go against the 20p to the CVA written up by Andronikou, and then vote against any 'improved' CVA offer written up by UHY within the 21-day period. The result? We lose everything, and have to start again.

Outcome 2: The Griffins' proposal.

In my eyes, the second worst possible outcome. To even think that a business in administration can happily pay 99p to the to it's creditors is laughable. What's the point in going into admin then? It makes no sense. Which is why I believe this proposal is firmly backed by HMRC.

By the club having no option but to opt for this proposal, it effectively leaves us with a lobotomised Pompey - a complete vegetable that will only just be able to tick over on a day-to-day basis as a business and going concern only. No money would be available for playing or coaching staff during the re-payment periods.

The result? Relegation after relegation. The club would be alive merely to prove a point to the rest of the footballing world, as told by HMRC: Pay your taxes, or end up like Portsmouth. I'm not fully convinced HMRC want to shut us down; football clubs, no matter what size, provide nice little tax income streams for HMRC. To lose that is like losing some of your monthly wages.

Outcome 3: The CVA is agreed.

Whilst the Griffins' proposal is clearly one 'for the tax-payer', the CVA by UHY is the best all-rounder. It means the creditors at least get something, but it also means the club can survive, and most importantly, learn from it's previous mistakes. We would have something left over to at least build a squad that could see us stave off relegation to League 1. The tax payers may not like it, but it's 20p to the of something, not nothing at all.

It also allows someone to come in and take over the club, albeit Chainrai or someone else. Chainrai may not be the best option, but he could at least keep us ticking over at a comfortable rate whilst re-gaining his money, with the view to sell us on in the future after we're back in a reasonable shape.

The result? We survive, and have a chance to re-build. From the ashes of empires, and all that.

And outcome 4? The white knight.

Out of all of this, a white knight comes galloping in, saves the club, pays off all creditors, re-gains control of all pockets of land from Chainrai and Gaydamak, builds a training complex, re-develops Fratton, re-builds the squad, gets in the right manager, and sends us charging back into the Premier League, tearing all the doubters to pieces in the process.

The result? We're back.

But it won't happen. It's the stuff of dreams.

I think our absolute best bet is outcome 3. Although I have my fears.

Written by powered_by_pies, and originally posted in the forum: click here.

The views within this article are the views of the individual who wrote and submitted this piece, sometimes solely theirs. They are not necessarily shared by the Vital Pompey Site Journalists.

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Writer: pompeyrug Mail feedback, articles or suggestions

Date:Monday June 14 2010

Time: 5:00PM

Your Comments

Life is built on dreams, so I'll take option 4!!!! Don't worry I'll wake up one day!!
frattonbex
There's also 3a where the CVA is initially rejected a slightly better deal put together for the creditors (say 30p) in the pound and that is then accepted, leaves us with less money but probably enough to stay in the championship meaning we may actually be able to complete the terms of the CVA as opposed to over stretching ourselves and putting ourselves out of business (as per the Griffin proposal)
stooH
would take option 4 but the option no3 is the best we will probably get
russellm
I'm not going to hold out hope for option 4, but just fingers crossed for option 3, because 1 and 2 are terrible!
tracyc
Outcome 5! we wake up and it was all a nightmare.
russellm
aww option 4 makes me feel all warm inside, which quite frankly after 1 and 2 was desperatly needed cause they left a big hole of dispear :( i'm also loving option 5 russell oh if only.. lol
pompeym@
option 6: i have heard there are some mega rich arabs looking to buy us, which is great so hold on to your hats!!! the doc is coming back to town!!!!!........3 or 4 sound good to me
NZ_Portsmuff
griffins 'proposal' has put a spanner in the works - it is NOT at all realistic but could put enough doubt in the creditors minds to see the 20p in the offer, a good offer, declined. fingers crossed this is not the case...
i was pretty confident on getting the CVA, altho i am now alittle more anxious.
pompeyrug
 

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