Vital Football

Four outcomes that will shape Pompey's future

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.

Join the Vital Pompey Debate

Trust

Writer:pompeyrug
Date:Monday June 14 2010
Time: 5:00PM

Comments

0
Life is built on dreams, so I'll take option 4!!!! Don't worry I'll wake up one day!!
frattonbex
14/06/2010 17:29:00
0
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
14/06/2010 17:34:00
0
would take option 4 but the option no3 is the best we will probably get
russellm
14/06/2010 18:32:00
0
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
14/06/2010 19:08:00
0
Outcome 5! we wake up and it was all a nightmare.
russellm
14/06/2010 20:28:00
0
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@
15/06/2010 00:06:00
0
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
15/06/2010 06:31:00
0
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
15/06/2010 16:28:00
Page 1/1
  1. 1

Login to post a comment

Recent Portsmouth Articles

Now for Pompey's football focus

Takeover talk has dominated this week but now Pompey have to turn attention back to the promotion bid with a reaction to last Saturday's defeat at Stevenage wanted when Newport visit.

Vital Preview - League 2, 25th-26th March 2017

The 2016-17 season continues with the latest round of games this weekend. This will see us among those involved with three points of course the aim.

The Newport Low Down

An article from PompeyFrippy looking ahead to the Newport visit to Fratton Park as Pompey bid to react to the Stevenage defeat, keeping the promotion bid on track.

Who Serves A Suspension This Week - 24/3/17

Here's a list of all the players currently serving, or under a suspension at the beginning of the week that will potentially keep them out of contention...

Archived Vital Pompey Articles

Vital Pompey articles from

Site Journalists

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

Current Poll (see more polls)

Pompey v Newport?
Suggested By: pompeyrug
Pompey win60%
Draw40%
Newport win0%
ScoopDragon Publishing Entire League Network of Sites

League Table

# Team P W D L Pts. GD
1 Doncaster 38 23 9 6 78 31
2 Plymouth 38 22 6 10 72 18
3 Portsmouth 38 19 8 11 65 25
4 Stevenage 38 19 4 15 61 12
5 Luton 38 15 15 8 60 20
6 Carlisle 38 15 14 9 59 0
7 Exeter 38 17 7 14 58 16
8 Blackpool 38 14 15 9 57 20
9 Mansfield 38 14 13 11 55 3
10 Wycombe 38 15 10 13 55 1
11 Colchester 38 15 9 14 54 3
12 Cambridge 37 15 8 14 53 6
13 Grimsby 38 14 9 15 51 -2
14 Accrington 37 12 12 13 48 -1
15 Barnet 38 11 15 12 48 -5
16 Morecambe 38 13 7 18 46 -13
17 Yeovil 38 10 15 13 45 -9
18 Crewe 38 11 12 15 45 -11
19 Crawley 38 12 9 17 45 -16
20 Notts County 38 12 7 19 43 -23
21 Hartlepool 38 10 11 17 41 -15
22 Cheltenham 38 9 12 17 39 -14
23 Newport 38 7 12 19 33 -20
24 Leyton Orient 38 9 5 24 32 -26
Write for Vital Football
Latest F1 News
Latest Vital Boxing News
The Vital Football Members League

Recent Portsmouth Results (view all)

Portsmouth Fixtures (view all)

Mar 25 2017 3:00PM : Newport County (H)
Sky Bet League Two
Apr 1 2017 3:00PM : Hartlepool United (a)
Sky Bet League Two
Apr 8 2017 3:00PM : Yeovil Town (H)
Sky Bet League Two
Apr 14 2017 2:30PM : Plymouth Argyle (H)
Sky Bet League Two
Apr 17 2017 3:00PM : Notts County (a)
Sky Bet League Two
Apr 22 2017 3:00PM : Cambridge United (H)
Sky Bet League Two

Vital Members League Table

RankNamePoints
1.pompeyrug69
2.PompeyFrippy47
3.storagematt37
4.Copnor4324
5.stubbsy00723
6.FrattonBlue19
7.Jimsmithswig18
8.eastneydave16
9.uspompeyfan13
10.pompeyweller13
Vital Football Comment