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Nick L

Portsmouth Likely To Fold

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There was someone on the news earlier from the local BBC saying that it wasn't perhaps as bad as made out. The bloke in question is unavailable due to religious commitments, but when he is, he either has to negotiate some sort of deal, or lose any money he hoped to get back from the club he once had a stake in. I'd have thought he'd get more back in a settlement than he would through liquidation, but who knows! Might just be the administrators playing hard-ball and trying to knock some sense into him?

It's looking dodgy, but perhaps it's not terminal?

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I wonder how many more will got to the wall before something gets done about football finances.

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I wonder how many more will got to the wall before something gets done about football finances.

We will have to wait until the authorities have to step in to save United when their debts catch up with them.

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We will have to wait until the authorities have to step in to save United when their debts catch up with them.

Completely different story, Man Utd are fundamentally a profitable football club, their only debts are the debts transferred from the Glazers. If the Glazers did default of their debts, the banks would take control and there would be no shortage in prospective new buyers. ( a similar situation to that of Liverpool, with RBS having quite a lot of say over the past weeks.)

This is vastly different to the majority of football clubs up and down the league where the clubs are fundamentally loss making, and in some cases trading insolvently. If football clubs were operating in the real world, many of hem would have gone under years ago. In football Administration usually resulting results in a Company Voluntary Arrangement whereby most debts are written off, and the club emerges finally more secure although chastened, in the real world, many companies go into liquidation after administration, or emerge as a fraction of the original size.

As For Portsmouth, outside football, they would have gone under well before now, and there may be some brinkmanship now in order to escape some of their debts, however these are dangerous times for Portsmouth and it is a worrying time for their fans.

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posturing - i expect he'll take the deal (2.2m over a few years) before its too late. otherwise he risks getting a lot less. exepct a deal on tuesday to go through to exit the club from administration. however, seeing as his 2.2 mill is secured, there is a small chance that he thinks he can get all his money faster by allowing the club to be liquidated. my experience of liquidations is that they take forever to be sorted out and he'll wait longer to start receiving his dosh. i wonder what the situation is with a 'parachute payment' to a club in liquidation. presumably, one cannot be made.

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The cynical side of me thinks this story is somewhat exaggerated and that Portsmouth will find a way to survive - they seem to have been on the brink for ages now but are still going. Of course, I hope that they do survive, its not something you want to see, but it is delaying the inevitable and at some point bigger clubs will go bust.

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The cynical side of me thinks this story is somewhat exaggerated and that Portsmouth will find a way to survive - they seem to have been on the brink for ages now but are still going. Of course, I hope that they do survive, its not something you want to see, but it is delaying the inevitable and at some point bigger clubs will go bust.

Speaking as a Portsmouth fan I can tell you last night made me feel sick, have any of you ever seriously thought about the extent to which football and your football club consumes you? I was thinking what I would do if we did fold, would I support another club, would I even follow football anymore and to tell you the truth the answers to both were no.

However, this morning it does appear that there has been some degree of backtracking from the club/administrator and it would appear, at least I and 20,000 others hope, that by tomorrow we will be in a better situation. It's like a hardcore game of poker at the moment, its just a shame that it is indirectly involving so many innocent fans.

PLAY UP POMPEY

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Speaking as a Portsmouth fan I can tell you last night made me feel sick, have any of you ever seriously thought about the extent to which football and your football club consumes you? I was thinking what I would do if we did fold, would I support another club, would I even follow football anymore and to tell you the truth the answers to both were no.

However, this morning it does appear that there has been some degree of backtracking from the club/administrator and it would appear, at least I and 20,000 others hope, that by tomorrow we will be in a better situation. It's like a hardcore game of poker at the moment, its just a shame that it is indirectly involving so many innocent fans.

PLAY UP POMPEY

I love you Pompey fans. Especially after the last day of the 2004/05 season when we played you and sent Southampton down! Was truly surreal seeing half the away end wearing West Brom shirts :D

Passionate bunch, hope you pull through.

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Speaking as a Portsmouth fan I can tell you last night made me feel sick, have any of you ever seriously thought about the extent to which football and your football club consumes you? I was thinking what I would do if we did fold, would I support another club, would I even follow football anymore and to tell you the truth the answers to both were no.

However, this morning it does appear that there has been some degree of backtracking from the club/administrator and it would appear, at least I and 20,000 others hope, that by tomorrow we will be in a better situation. It's like a hardcore game of poker at the moment, its just a shame that it is indirectly involving so many innocent fans.

PLAY UP POMPEY

The future was pretty bleak for Ipswich when they went into administration, although not as serious as Portsmouth's current situation. To be honest though I am getting to the stage where I'm not as bothered about football as I once was because of the way money is taking over and destroying the game.

Looks like Portsmouth are going to be saved by tonight with an agreement reached between the parties involved.

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The future was pretty bleak for Ipswich when they went into administration, although not as serious as Portsmouth's current situation. To be honest though I am getting to the stage where I'm not as bothered about football as I once was because of the way money is taking over and destroying the game.

Looks like Portsmouth are going to be saved by tonight with an agreement reached between the parties involved.

Cheers guys, yes I think that West Brom away game sums things up nicely!!! It looks like a deal has been struck, details yet to be made clear so am not dancing a merry dance just yet, i'll save that for the morning!

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Thanks, its now official we have exited administration and been sold: http://www.portsmouthfc.co.uk/LatestNews/news/Portsmouth-Football-Club-Statement-1527.aspx

Feels like christmas :D

Maybe its about time supporters bought clubs..i know Exeter City is owned by the supporters and have been since 2003 they are a financially secure club who have gone from strength to strength on and off the field.

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