Tue Mar 02, 2010 8:20 am
Tue Mar 02, 2010 9:29 am
Tue Mar 02, 2010 9:42 am
Tue Mar 02, 2010 10:01 am
Ben wrote:thats what ive alwasy said, we need to stay outside! hiot um where it hurts, when the staium is half empty they'll soon listen
Tue Mar 02, 2010 10:11 am
Tue Mar 02, 2010 10:53 am
Tue Mar 02, 2010 3:20 pm
piledriver64 wrote:So are you proposing that we now hasten the demise of our club
The problem here is that if we do hit them in the pocket we run the risk of not only getting rid of the board but the club as well
And before anyone says that we can go into Administration and start again just remember a couple of things:
1. HMRC are taking Portsmouth back to court to dispute whether administration should be allowed, it isn't a rubber stamping job !
2. The consequences of Administration are long lasting and not a simple 10 point deduction. Assets (e.g. players) will be sold, credit rating plummets, clubs will demand transfer fees upfront, possible additional points deduction next season as well and an inability to attract the calibre of players/management we have been used to. In short, recovery would take years.
3. Administration relies on creditors agreeing to take a hit on debts. The only secured debtor is PMG. That means administration depends on Borley, Hammam, etc. agreeing to it, are you 100% confident of that ? If not then we have a real possibility of being wound up and no club.
4. If we go into Administration we are still relying on a takeover and whilst it may be cheaper at that point on the face of it (if the creditors agree) it won't necessarily be any more attractive as assets will still have to be sold to satisfy creditors wherever possible e.g. if the Administrator receives bids for Marshall, McNaughton, Matthews, Whitts, McPhail, McCormack, Chopra, Bothroyd that in total would result in the creditors getting 100% of their money back then that is what he is duty bound to do. He would have to wait until the summer but it will happen, just as it will with Palace.
People now need to think before making certain statements. This situation is serious and we need some answers but could you live with yourself if you contributed to the final demise of our club ? I know I couldn't.