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+--- Thread: We will lose out if Pompey die. (/Thread-We-will-lose-out-if-Pompey-die)
RE: We will lose out if Pompey die. - Noucamp99 - 13-02-2010
Well, we have the answer. The Premier League will NOT help Portsmouth!
Portsmouth have been dealt another blow in their bid to stave off the threat of administration as the Premier League refused to sanction an emergency payment of next season's broadcast revenue.
With Pompey only having until 4pm on Wednesday to present a statement of their affairs detailing a breakdown of their assets and liabilities, it had been suggested that the League would aid their cause by providing advanced funds.
The Fratton Park outfit's minimum guaranteed broadcast revenue for next season is £11million, which would be 'parachute payments' if they are relegated to the Championship, but the Premier League will not provide this money before it is due.
The threat of becoming the first top-flight club to enter administration is looming large for the South Coast side, and the League said the rules on broadcast payments could not be changed just to suit one club.
"The Premier League has very specific rules regarding what happens if a club suffers an insolvency event," said a League spokesman.
"We will not act outside those rules or in a way that undermines the competition."
Pompey are desperate for new investment as they try and pay off a £11.5million debt in unpaid taxes owed to HM Revenue & Customs.
They will return to the High Court on 1st March for the hearing on their winding-up petition.
Source: skysports.co.uk
RE: We will lose out if Pompey die. - Noucamp99 - 26-02-2010
So, Pompey have entered administration and look set to be docked 9 points for doing so. At present, they are still looking to complete fixtures:
The immediate future of the South Coast outfit has now been assured but they look certain to be playing in the Championship next season.
Avram Grant's side are already adrift at the foot of the table and their nine-point penalty, which will be confirmed by the Premier League board in the coming days, will see them 17 points from safety.
The club's administrator Andrew Andronikou will hold a press conference at Fratton Park at 3pm to outline plans for the future.
Source: skysports.com
For full story, see:
http://www.skysports.com/story/0,19528,11674_5982493,00.html
http://www.skysports.com/story/0,19528,11674_5983346,00.html
It looks unlikely at the moment, that Portsmouth will cease to exist and are kind of protected under administration. We'll see. It is a worrying time, really, when a Premier League side goes under. Something is seriously wrong there.