Liquidation now inevitable?
But then I saw in a Guardian article on Newsnow that the Football League have made it a condition of League One entry that Portpin can't transfer more than a small fraction of the secured debt to the NewCo.
This is powerful stuff, even though 10 points, which is just a short term thing, makes all the headlines.
Portpin can only keep a small amount of secured debt? So they won't get their £18m back. Further tough league regulation makes asset stripping the parachute payments impossible.
So, this COULD lead to Portpin walking away.
The Trust may be the only show in town. Yet we have no detail & we know that unless people like TBH leave, they have no bid.
Could we not see a new season for Portsmouth 1898??
Written by and initially posted in the forum here
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