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Anyone else sick of Portsmouth?

  • 04-02-2010 12:03pm
    #1
    Registered Users, Registered Users 2 Posts: 942 ✭✭✭


    I am sick to my back teeth of hearing about this club every single day. I mean, honestly, besides Portsmouth fans, who cares? They are a nothing team with annoying fans, stupid owners and have no future. They will go into administration and get relegated. Good i say.

    Redknapp had a handy team, but once he left they were doomed. I am aware of people talking about 'the good of the game' and the precedence it sets, but hopefully it'll be seen as a warning to teams with limited support to lower their expectations and ensure their future survival.

    I for one would welcome Portsmouth going into administration and getting relegated if it prevents this scenario being played out again in a few years with other clubs.


«13

Comments

  • Registered Users, Registered Users 2 Posts: 53,262 ✭✭✭✭GavRedKing


    Harsh, like a lot of clubs at the moment they are going through a tough time, tougher then most really, but there is a handful of clubs I would rather go down then Pompey that are in and around the relegation places.


  • Moderators, Arts Moderators Posts: 35,527 Mod ✭✭✭✭pickarooney


    I wouldn't shed a tear for any club that spend stupid money it didn't have. I won't care when Portsmouth disappear from the premiership be it through being broke or not good enough. There's far too much emphasis on 'survival' and not enough on entertainment, which is the only reason professional football exists, in my opinion. The could take another half-dozen financially precarious clubs with them and replace them with a load of better-run sides and I for one would not care a jot.


  • Registered Users, Registered Users 2 Posts: 36,369 ✭✭✭✭SlickRic


    They are a nothing team with annoying fans, stupid owners and have no future. They will go into administration and get relegated. Good i say.

    fúck sake.

    it's not the fans' fault they've had sh*t owners.

    or their fault Mr Pompey has a cowbell that annoys everyone. it doesn't mean they're all annoying.

    or their fault they have a bleak future.

    we should be hating the owners that come in and destroy clubs, not the clubs themselves.

    from what i can tell they're a lovely little club with passionate fans, who don't want to see their club go down the sewer.


  • Banned (with Prison Access) Posts: 6,956 ✭✭✭CHD


    Nope not at all. I love watching some reporter on sky sports news standing in the car park speculating about wages getting paid before lunch or after dinner


  • Registered Users, Registered Users 2 Posts: 11,589 ✭✭✭✭Necronomicon


    It's an incredibly harsh situation on their supporters. While dodgy owners have been able to jump off the ship when it started sinking, the supporters haven't had that luxory. I think the OP could use a little empathy for them if not for the club itself. If the club does dissolve then the PL and whatever authorities deemed the owners 'fit' have to be held hugely responsible and heads should roll.


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  • Registered Users, Registered Users 2 Posts: 10,399 ✭✭✭✭ThunbergsAreGo


    I

    Redknapp had a handy team, but once he left they were doomed. I am aware of people talking about 'the good of the game' and the precedence it sets, but hopefully it'll be seen as a warning to teams with limited support to lower their expectations and ensure their future survival.

    .

    Sorry i have to take exception to that! Harry is half responsible for what has happened at Portsmouth. Who signed Utaka to crazy wages and brought in a ridiuclous amount of players and hardly played them. He knew wellw jhat was coming and used the club for his own short term gain.

    Have a look at the clubs hes managed and youll see a recurring theme.
    (not all his fault but a little too mcuh of a coincidence).

    I want them to survive as a club, i quite like Grant:D


  • Closed Accounts Posts: 21,296 ✭✭✭✭gimmick


    Anyone who makes a ridiculous post like the OP obviously has never seen his team tether on the brink.

    Sometimes clubs have to speculate to accumulate. Pompey tried this, it looked like it was working when they won the FA Cup. But it has now backfired.

    Relegation a division or two is what is now needed for Portsmouth. Either that, or they will go bust. (sounds like a CCFC thread :rolleyes:)


  • Closed Accounts Posts: 27,252 ✭✭✭✭stovelid


    Aye, teams shouldn't be mentioned on the news at all unless they've won the Champions League. Give the public what they want.


  • Registered Users, Registered Users 2 Posts: 3,505 ✭✭✭The Davestator


    I'm a bit 'Meh' about Ports but where the Fu*k have the FA been with allowing all these owners to take over the club, take loans out and then head off into the sunset?

    The fit and proper test needs to be looked at, because as far as I can seem its totally useless


  • Closed Accounts Posts: 25,953 ✭✭✭✭kryogen


    extremely harsh blaming the fans for the state of the club

    not their fault tbh....the club is a joke at the moment alright, but it is the fans that will be the ones suffering in the end also, they deserve sympathy for whats happened, not like they asked for Harry to work his usual magic with transfers or asked for owners to come in who couldnt afford/didnt want to finance the club


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  • Registered Users, Registered Users 2 Posts: 20,558 ✭✭✭✭dreamers75


    Nevermind Pompey, i want Man Utd, Liverpool actually any team in debt ****ed out of the league. Sick of hearing that Liverpool have 300 million debt and united have 700 million debt. Who gives a ****?


    Chuck them all out and only let in teams with nice names and no debt and all news should be focused on happy things.


  • Registered Users, Registered Users 2 Posts: 51,342 ✭✭✭✭That_Guy


    Bit harsh OP. Pompey are really on the brink and even though it means nothing to you, it means a lot to the fans who pay to see them week in and week out. A football club is a treasure to local people who come together to support their team.

    It must be horrible to think that they may not have a football club anymore to support every week.

    The FA should be doing all they can to help a club in crisis before it's too late.

    It must be so hard for die hard fans who help out their club by either cheering them on in the stands or helping clear the snow like they did a few weeks ago so that the match could go ahead.

    It's also strange that Pompey seemingly can't spend any money in the transfer market due to their debt yet Liverpool and United are allowed to despite their debt.


  • Closed Accounts Posts: 25,953 ✭✭✭✭kryogen


    That_Guy wrote: »
    Bit harsh OP. Pompey are really on the brink and even though it means nothing to you, it means a lot to the fans who pay to see them week in and week out. A football club is a treasure to local people who come together to support their team.

    It must be horrible to think that they may not have a football club anymore to support every week.

    The FA should be doing all they can to help a club in crisis before it's too late.

    It must be so hard for die hard fans who help out their club by either cheering them on in the stands or helping clear the snow like they did a few weeks ago so that the match could go ahead.

    It's also strange that Pompey seemingly can't spend any money in the transfer market due to their debt yet Liverpool and United are allowed to despite their debt.

    just one thing, they cant spend cause they cant pay back what they owe other clubs already for transfers and stuff like that, not just cause they have debt

    united and liverpool are both servicing their debts, why should they be not allowed to continue doing business when they have no bad debt records?


  • Registered Users, Registered Users 2 Posts: 16,072 ✭✭✭✭event


    its for threads like these that boards should have an opposite of the "thanks" option


  • Registered Users, Registered Users 2 Posts: 942 ✭✭✭Bodhidharma


    I never said the fans were to blame. I wouldn't blame them any more than i'd blame Leeds fans for what happened to them. I just find them annoying because they just moan and do nothing constructive. They protested last week but that was a rarity.

    In regards to Harry Redknapp being to blame I dont buy it. Nearly all the players he bought were sold at a profit.

    Clearly the clubs owners (all of them) and the FA have screwed the pooch on this one. I'm just sick of hearing about it. The whole thing is going to play out like a car crash in slow motion.

    I don't see the need for me to support a club teetering on the brink in order to understand the situation. Why should I?


  • Registered Users, Registered Users 2 Posts: 7,046 ✭✭✭eZe^


    I am sick to my back teeth of hearing about this club every single day. I mean, honestly, besides Portsmouth fans, who cares? They are a nothing team with annoying fans, stupid owners and have no future. They will go into administration and get relegated. Good i say.

    Redknapp had a handy team, but once he left they were doomed. I am aware of people talking about 'the good of the game' and the precedence it sets, but hopefully it'll be seen as a warning to teams with limited support to lower their expectations and ensure their future survival.

    I for one would welcome Portsmouth going into administration and getting relegated if it prevents this scenario being played out again in a few years with other clubs.



    I'm far more sick of hearing about speculated massive million euro deals that my club seem to like frivlously over spending on such and such a player. I'm sick of the amount of money my club can waste without suffering the same detriment that the likes of Portsmouth now face. It'll be a shame to see them disappear, as they are a fantastic club, and the fact that you are more sick about this stuff than the likes of JT cheating on his wife says alot about the way football is going these days.

    I'd much rather be clued into the ongoing developments in the possible collapse of a well known club team than anything any stupid fcuking playboy millionaire footballer gets upto off the pitch.


  • Closed Accounts Posts: 6,296 ✭✭✭RandolphEsq


    Portsmouth are not as much a nothing team as Bolton. They make Portsmouth look like a soap opera!


  • Registered Users, Registered Users 2 Posts: 942 ✭✭✭Bodhidharma


    eZe^ wrote: »
    It'll be a shame to see them disappear, as they are a fantastic club, and the fact that you are more sick about this stuff than the likes of JT cheating on his wife says alot about the way football is going these days.

    I dont think they will disappear.They'll go into administration and get relegated. Where did I mention the words John and Terry? The John Terry thing isn't an issue for me, i'm not English so I dont care.


  • Registered Users, Registered Users 2 Posts: 17,213 ✭✭✭✭therecklessone


    You'd think they'd have learned from other nothing teams like Fiorentina, wouldn't you?

    I wonder will they get a hand up from the FA when they reconstitute as AFC Portsmouth?


  • Registered Users, Registered Users 2 Posts: 46,466 ✭✭✭✭Mitch Connor


    You'd think they'd have learned from other nothing teams like Fiorentina, wouldn't you?

    I wonder will they get a hand up from the FA when they reconstitute as AFC Portsmouth?

    will they need to? They are in absolute crap at the moment, but the new owner will want his money back and he won't get it if the club folds. I reckon he will do just enough to keep it going (before selling it on again).

    Wonder if Storey can get his consortium together again and buy the club.


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  • Registered Users, Registered Users 2 Posts: 9,153 ✭✭✭everdead.ie


    Just heard they have an extra owner coming in on ssn:pac:

    Dont think you can blame 'Arry but the banks and the owner taking that much money out without the capacity to pay it back is the problem


  • Moderators, Science, Health & Environment Moderators Posts: 7,146 Mod ✭✭✭✭pistolpetes11


    Its not an extra owner ,

    Its some business man who lent the previous owner 17 Million, and had a clause in the contract that if there was a default on Payment he would get to take over the whole club.

    His plan is to stabilize the club and then sell it on ,

    I hope that is a 3 or 4 year plan , because if it isnt he is in trouble as they are going down this season, too little too late

    http://news.bbc.co.uk/sport2/hi/football/teams/p/portsmouth/8497491.stm


  • Closed Accounts Posts: 8,983 ✭✭✭leninbenjamin


    Word is on BBC now he wants rid of them by the end of the season. He just wants to stabilise them so he gets his money back. This could be a massive blessing for Portsmouth!


  • Closed Accounts Posts: 26,567 ✭✭✭✭Fratton Fred


    One thing I really ****ing hate is people who think football can be called "entertainment" and because a "nothing" club has the audacity to make the headlines when everyone knows Wayne Rooney's haircut is more important think they should disappear quietly.

    FYI, there is a lot the fans are doing, including meeting the board of the Premier league (the first time this has happened), talking to lower leagues to discuss the possibilities of AFC Portsmouth joining and getting the council to rezone Fratton Park so the land is worthless to a property developer.

    The fans are doing loads, but because Pompey are not a "fashionable" club, the media aren't interested in this, they are only interested in reporting on the circus that is the ownership.


  • Closed Accounts Posts: 26,567 ✭✭✭✭Fratton Fred


    BTW, a lot of players were sold for profit, but there were massive sell on fees payable. Also, Redknapp also landed us with players like Djimi Traore, David Nugent and Lauren that all earnt huge wages and will go for next to nothing.


  • Registered Users, Registered Users 2 Posts: 18,807 ✭✭✭✭kippy


    I have to say, that I completely disagree with the OP's post. Completely. However I can see the Pompey situation happen at other clubs.

    Its all right for us Irish to be speaking of these clubs, we dont live near them, we havent grown up near them we may go over every now and again for a match and follow them on telly, have a bit of banter with the mates.
    But for the local fan, who attends all home games and as many away as possible, who has been brought out of the womb wearing their local clubs jersey and who wants nothing better than to enjoy whatever success they get, the recent influx of r4pers and pillagers into the football club ownership game must be extremely tough to swallow.
    Those fans, not just at Pompey, but at Anfield and Old Trafford (despite the success) who go games as often as they can, who live and breath the club, who know nothing else have seen some serious greed and financial mismanagement hit their clubs. Foreign owners, only there to strip the club and get out with their money made. They dont care how they leave the place.

    Pompeys fans have seen their club get bought and sold so many times recently by people who have had little or nothing to do with the club and who've not had the long term survival of the club at heart. Sure they've gambled and failed badly - but thats NOT the fault of the fan, and not something we should be laughing about or celebrating.

    There, I said it, probably a bit much, but its my general stance on almost all buyouts of PL clubs in recent years.


  • Registered Users, Registered Users 2 Posts: 18,807 ✭✭✭✭kippy


    BTW, a lot of players were sold for profit, but there were massive sell on fees payable. Also, Redknapp also landed us with players like Djimi Traore, David Nugent and Lauren that all earnt huge wages and will go for next to nothing.

    Redknapp - okay, he did a few daft things but ultimately he was given a wage and purchasing budget. He didnt set either........Like at other clubs, the finances have to be divied out in the correct manner or its all over.


  • Registered Users, Registered Users 2 Posts: 18,807 ✭✭✭✭kippy


    I never said the fans were to blame. I wouldn't blame them any more than i'd blame Leeds fans for what happened to them. I just find them annoying because they just moan and do nothing constructive. They protested last week but that was a rarity.

    In regards to Harry Redknapp being to blame I dont buy it. Nearly all the players he bought were sold at a profit.

    Clearly the clubs owners (all of them) and the FA have screwed the pooch on this one. I'm just sick of hearing about it. The whole thing is going to play out like a car crash in slow motion.

    I don't see the need for me to support a club teetering on the brink in order to understand the situation. Why should I?

    You said they were annoying, all 70k of them............
    Not a reason to want to see a club fold.


  • Closed Accounts Posts: 26,567 ✭✭✭✭Fratton Fred


    I went to the Fulham game last night with my brother. He lives in North London and would really really love to get a ST at the emirates and be an Arsenal supporter, but he knows in his heart of hearts that, like all Pompey fans, is Portsmouth til he dies and no matter what they won, whoever they had in their team, seeing Arsenal win the Champions league wouldn't even come close to seeing Pompey beat Scunthorpe, Crewe or whoever we end up playing over the next few seasons.


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  • Registered Users, Registered Users 2 Posts: 38,247 ✭✭✭✭Guy:Incognito


    BTW, a lot of players were sold for profit, but there were massive sell on fees payable. Also, Redknapp also landed us with players like champions league winner Djimi Traore, David Nugent and Lauren that all earnt huge wages and will go for next to nothing.

    FYP

    He's got to be worth a coupel of million with that medal around his kneck. :)


  • Closed Accounts Posts: 26,567 ✭✭✭✭Fratton Fred


    kippy wrote: »
    Redknapp - okay, he did a few daft things but ultimately he was given a wage and purchasing budget. He didnt set either........Like at other clubs, the finances have to be divied out in the correct manner or its all over.

    What, you mean Man City, Man United, Liverpool, West Ham etc etc should sort their debt out before buying players? Or is it ok as long as the banks and the wealthy owners are bank rolling them?

    What happens, for instance, when the banks and the owners call in that debt or the owner ****s off? Because that is exactly what has happened to us.


  • Closed Accounts Posts: 26,567 ✭✭✭✭Fratton Fred


    Stekelly wrote: »
    FYP

    He's got to be worth a coupel of million with that medal around his kneck. :)

    He'd only trip over and drop it.


  • Closed Accounts Posts: 27,252 ✭✭✭✭stovelid


    kryogen wrote: »
    united and liverpool are both servicing their debts, why should they be not allowed to continue doing business when they have no bad debt records?

    Look at Leeds.

    While it's true that United and Liverpool are in no immediate danger, it's disingenuous to simply say that Portsmouth are bad because they've gambled and lost, yet it's not imprudent and reckless of United and Liverpool to have that amount of (mounting debt) just because they're chipping it down slowly.

    Even if Chelsea are slowly reducing their losses, they're walking an even finer line as they don't have the brand and fan base of Liverpool and United.


  • Registered Users, Registered Users 2 Posts: 18,807 ✭✭✭✭kippy


    What, you mean Man City, Man United, Liverpool, West Ham etc etc should sort their debt out before buying players? Or is it ok as long as the banks and the wealthy owners are bank rolling them?

    What happens, for instance, when the banks and the owners call in that debt or the owner ****s off? Because that is exactly what has happened to us.
    Why are you blaming Redknapp for the trouble ye are in again?
    Owners.............thats the problem............

    I am on your side......


  • Registered Users, Registered Users 2 Posts: 16,930 ✭✭✭✭astrofool


    I used to like Portsmouth, until hearing that stupid Cow bell for the nth season in a row.


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  • Closed Accounts Posts: 26,567 ✭✭✭✭Fratton Fred


    kippy wrote: »
    Why are you blaming Redknapp for the trouble ye are in again?
    Owners.............thats the problem............

    I am on your side......

    The fault lies with the owners, no doubt about that, but I get sick of hearing how wonderful Redknapp is and how he managed to get all these playerson the cheap and sell them for a profit, there is a lot more to it than that.

    As soon as Redknapp got wind of this, he fecked off to Spurs. Remember his "Portsmouth wanted to sell a player in the TW but couldn't so they sold their manager" comment?

    He was told to cut the wage bill, realised he wouldn't be able to buy and sell at leisure anymore so he went somewhere he could.


  • Closed Accounts Posts: 26,567 ✭✭✭✭Fratton Fred


    astrofool wrote: »
    I used to like Portsmouth, until hearing that stupid Cow bell for the nth season in a row.

    It's a handbell, not a cowbell. He also has a bugle. They are both equally annoying and one of the reasons why I enjoy away games more, because most clubs don't let it in the ground


  • Closed Accounts Posts: 1,129 ✭✭✭therokerroar


    Yeah I couldn't care less what happens to them to be honest.

    The fans weren't complaining when they were spending money that they obviously knew they couldn't maintain.


  • Registered Users, Registered Users 2 Posts: 3,629 ✭✭✭magma69


    I have an ingenious way to drag the club out of debt. Start a facebook campaign called "I am willing to pay a fiver for Portsmouth to ban that prick with the bell".

    The will make billions.


  • Closed Accounts Posts: 8,983 ✭✭✭leninbenjamin


    Yeah I couldn't care less what happens to them to be honest.

    The fans weren't complaining when they were spending money that they obviously knew they couldn't maintain.

    Oh come off it, Portsmouth aren't exactly the only black sheep in the Premiership when it comes to debt.


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  • Registered Users Posts: 1,494 ✭✭✭Columbia


    kryogen wrote: »
    united and liverpool are both servicing their debts, why should they be not allowed to continue doing business when they have no bad debt records?

    Liverpool aren't. The reason RBS are demanding that Liverpool reduced their debt to £200m is precisely because they continue to waste vast sums of money on Alberto Aquilani's medical bills whilst at the same time repeatedly failing to meet debt repayments.
    SlickRic wrote: »
    fúck sake.

    it's not the fans' fault they've had sh*t owners.

    or their fault Mr Pompey has a cowbell that annoys everyone. it doesn't mean they're all annoying.

    or their fault they have a bleak future.

    we should be hating the owners that come in and destroy clubs, not the clubs themselves.

    from what i can tell they're a lovely little club with passionate fans, who don't want to see their club go down the sewer.

    I read through a Pompey messageboard to get a sense of what the fans felt about the whole thing, most of them said they would have supported the overspending at the time, in order to get their shot at glory. I have nothing at all against Pompey, but this is the risk they took and they've lost out, simple as that really.
    kippy wrote: »
    Redknapp - okay, he did a few daft things but ultimately he was given a wage and purchasing budget. He didnt set either........Like at other clubs, the finances have to be divied out in the correct manner or its all over.

    Every major club Harry Redknapp has taken charge of previously (West Ham, Portsmouth, Southampton) has ended up in financial ruin or very close to it, and lately is the first time I have ever heard the words "sell to buy" used in relation to Spurs. This is not a coincidence, and he is not just unlucky. He clearly refuses to join a club that isn't willing to irresponsibly spank money away on whatever player catches his fancy. In addition, he has been caught evading tax. The guy is one hell of a shady character and probably the biggest clown in football, and he had no small part to play in what is currently happening to Portsmouth FC.


  • Closed Accounts Posts: 13,224 ✭✭✭✭SantryRed


    I wouldn't shed a tear for any club that spend stupid money it didn't have.

    I'm sorry but aren't you a Man United fan?


  • Registered Users, Registered Users 2 Posts: 2,328 ✭✭✭Mezcita


    "Anyone else sick of Portsmouth"

    Not me. Am loving it.

    http://www.boards.ie/vbulletin/showthread.php?t=2055623113

    Ching! Ching!


  • Registered Users, Registered Users 2 Posts: 18,807 ✭✭✭✭kippy


    The fault lies with the owners, no doubt about that, but I get sick of hearing how wonderful Redknapp is and how he managed to get all these playerson the cheap and sell them for a profit, there is a lot more to it than that.

    As soon as Redknapp got wind of this, he fecked off to Spurs. Remember his "Portsmouth wanted to sell a player in the TW but couldn't so they sold their manager" comment?

    He was told to cut the wage bill, realised he wouldn't be able to buy and sell at leisure anymore so he went somewhere he could.

    Wouldnt you do the same?
    A better offer comes along.........you'd be stupid not to take it........

    He's no legend wheeler dealer, and that aspect of people taking about him annoys me also......but he has done his best to make up for whatever guilt he has with Spurs buying three or four of pompeys players, the proceeds from the most recent of which has saved Pompey from immediate administration.
    Fans need and most do realise that the cancer in the sport is right at the very top.


  • Registered Users, Registered Users 2 Posts: 18,807 ✭✭✭✭kippy


    Columbia wrote: »



    Every major club Harry Redknapp has taken charge of previously (West Ham, Portsmouth, Southampton) has ended up in financial ruin or very close to it, and lately is the first time I have ever heard the words "sell to buy" used in relation to Spurs. This is not a coincidence, and he is not just unlucky. He clearly refuses to join a club that isn't willing to irresponsibly spank money away on whatever player catches his fancy. In addition, he has been caught evading tax. The guy is one hell of a shady character and probably the biggest clown in football, and he had no small part to play in what is currently happening to Portsmouth FC.
    If I went into Pompey as manager and was given a budget to spend to reach certain targets I would sure as hell spend it.
    He obviously likes to get his own way at a club. If they give him that then its not his fault.

    He is shady, no question, but again, he's not the main problem.


  • Registered Users, Registered Users 2 Posts: 942 ✭✭✭Bodhidharma


    kippy wrote: »
    Not a reason to want to see a club fold.

    I never said I wanted them to fold. I said they will most likely go into administration and be relegated. And if this happens, hopefully other clubs will learn from it.


  • Closed Accounts Posts: 26,567 ✭✭✭✭Fratton Fred


    Columbia wrote: »
    I read through a Pompey messageboard to get a sense of what the fans felt about the whole thing, most of them said they would have supported the overspending at the time, in order to get their shot at glory. I have nothing at all against Pompey, but this is the risk they took and they've lost out, simple as that really.

    Who did we spend big on? Our record signing was Defoe for £12m, most of which was paid for by the £9m sale of Benjani to Man City.

    There is one major differences between Pompey and the rest of the teams in the premiership. Our owner lost interest and wanted to get his money out asap. Every other team in the prem (with the possible exception of Spurs) is where they are right now because of someone else's money.


  • Registered Users, Registered Users 2 Posts: 31,950 ✭✭✭✭Mars Bar


    Portsmouth have new owners:

    http://www.skysports.com/story/0,19528,11095_5917142,00.html
    Portsmouth have been taken over for a third time this season after Balram Chainrai seized control, subject to passing the Premier League fit and proper person test.

    Chainrai has taken over the 90 per cent shareholding in Pompey that was held by Ali Al-Faraj after the club continually defaulted on loan repayments.

    The Hong Kong businessman had loaned at least £17m to Faraj to keep Portsmouth afloat through Portpin, the company he owns with his Israeli business partner, Levi Kushnir, and their associates. Those loans were secured against the stadium, the club's future television revenue and Faraj's 90 per cent share.

    Angered by Portsmouth's failure to make the repayments, despite Portpin continually extending the deadlines, Chainrai's patience ran out on Wednesday.

    Under the terms of the loan Faraj's 90 per cent shareholding in Portsmouth was frozen and passes to Chainrai, who has confirmed Portpin will now look after the club's best interests.

    "Portpin have made substantial loans to Portsmouth to try and ensure the club's future," he told The Guardian. "Portpin will [now] continue to work for the best interests of the club."

    Meanwhile, Portsmouth are due in court to appeal against the petition from HM Revenue & Customs over an unpaid tax bill.

    Chainrai appealed to HMRC to understand the club's financial predicament, adding: "To help Portsmouth succeed we need the support and understanding of Her Majesty's Revenue to work out a solution."

    For now anyway...


  • Closed Accounts Posts: 8,983 ✭✭✭leninbenjamin


    Columbia wrote: »
    Every major club Harry Redknapp has taken charge of previously (West Ham, Portsmouth, Southampton) has ended up in financial ruin or very close to it

    Correlation != Causation.

    I think it's unfair to pin Redknapp as the cause, I think it's more the case he's the type of guy irresponsible owners turn to. His wheeling and dealing is exactly what these guys want, because it gets results quick. He may not care about the long term consequences of his transfers deals, but frankly neither do the board who brought him in so it's a win win situation for all (until the credit runs out of course :D).

    These guys (talking about Gaydamek and the like) who hire managers with a short term outlook (such as Redknapp) are the type who want to make money quick. They buy out a club using leveraged debt, they buy in players on credit in the hope the club will rise quickly, get a European spot/Promotion/Trophy to raise the profile of the club and then they can flip the club to someone else. This is what's termed a 'bubble' and like all bubbles they eventually burst. In some sense the current owners simply got unlucky because they were the ones at the helm when the credit to execute such a business plan ran out.

    Once the global recession is well and truly in the rear view, and the banks start lending again this type of thing will reoccur. It's a simple side effect of the economic phenomenon known as the 'business cycle'


  • Registered Users, Registered Users 2 Posts: 26,519 ✭✭✭✭noodler


    I am sure this has been mentioned elsewhere but when you look at what Pompey recieved in transfer fees over the last few years it is almost hard to phathom why they are in trouble.

    The Johnson fee was around 17m

    Sold Crouch, not sure of the fee.

    Muntari for 12m I thought was some wad of cah from Inter.

    3.25 for Begovic seems generous in today's climate.

    14(?) for Defoe.

    Banjani for 4m.

    The only one which was weird was Krancjar for 2m but of course that was probably Spurs saying "ah here, we have overpaid you halve a dozen times - do us this one favour".


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