Portsmouth FC to be Liquidated

Portsmouth FC on the brink of liquidation as last-ditch deal to save the club breaks down

Portsmouth Football Club was on the brink of liquidation tonight as the club admitted they are no long able to continue trading.

They face closure after a deal to save the club between former owner Alexandre Gaydamak and prospective buyer Balram Chainrai broke down without a resolution.

A statement from the club has said that the chance of a deal now being struck is 'impossible' and that it is likely they will now close.

The situation arose when Mr Gaydamak changed the terms of an agreement and demanded an upfront payment to bring them out of administration.

He had already been offered a full payment for the secured part of his debt, but today told Pompey's administrators that he required the 'significant' upfront payment to allow the deal to proceed.
Demands: Alexandre Gaydamak requested an upfront payment to bring the club out of administration, something Portsmouth refused to pay

Demands: Alexandre Gaydamak requested an upfront payment to bring the club out of administration, something Portsmouth refused to pay

The club have said that they will refuse to pay Mr Gaydamak the money as he is one of the perpetrators of the club's current financial situation.

The statement also says that the actions of Mr Gaydamak have undermined previous action to save the club - and his demands have shown disregard for the supporters, the club and the city.

They also said that 'his earlier comments when the club went into administration about doing everything to save the club's future do not appear to reflect in his current actions'.

It was revealed in April that Portsmouth owed a combined total of £38.2million to previous owners including Mr Gaydamak and Sulaiman al Fahim.

Mr Gaydamak owned the club between 2006 and 2009 before selling to Mr al Fahim.

Portsmouth have have been in administration since February when Mr Chainrai opted to place them into that state after the club mounted up debts of over £120million.

The option of administration saw them docked nine points and they were subsequently relegated from the Premier League.

An earlier attempt to bring the club out of administration was vetoed eight days ago, despite the efforts of both the Football League and Mr Chainrai to revive the club.

Officials decided not to approve the transfer of the club's Football League share, which would signal their exit from administration, until further conditions were met.

Should Portsmouth close, they would become the first Football League club since Maidstone United in 1992 to go out of business. In the same year Aldershot were also closed down.

Portsmouth are due to play Hull City in a Championship match tomorrow afternoon.

http://www.dailymail.co.uk/news/article-1322955/Portsmouth-FC-brink-closure-deal-save-club-breaks-down.html


A couple years since winning the FA Cup and they're being liquidated, feel sorry for their fans.

Not good at all. Should never come to this. Wonder how many weeks of Rooney's new wages would help them out.

Luis wrote:Not good at all. Should never come to this. Wonder how many weeks of Rooney's new wages would help them out.

9-10 years I think.

Luis wrote:Not good at all. Should never come to this. Wonder how many weeks of Rooney's new wages would help them out.

As though Liverpool never spent money they didn't have on the wages of overrated players...

Boneyskank wrote:

Luis wrote:Not good at all. Should never come to this. Wonder how many weeks of Rooney's new wages would help them out.

As though Liverpool never spent money they didn't have on the wages of overrated players...

Give it a rest Saints. Just because you got wound up yesterday you don't need to keep shadowing me with irrelevant and boring posts.

Luis wrote:

Boneyskank wrote:

Luis wrote:Not good at all. Should never come to this. Wonder how many weeks of Rooney's new wages would help them out.

As though Liverpool never spent money they didn't have on the wages of overrated players...

Give it a rest Saints. Just because you got wound up yesterday you don't need to keep shadowing me with irrelevant and boring posts.

Welcome to my world, anytime I post he's never far behind.

Luis wrote: Give it a rest Saints. Just because you got wound up yesterday you don't need to keep shadowing me with irrelevant and boring posts.

Irrelevant? You're the one who managed to turn a thread about Pompey going bust into a bitch about a Man Utd player. As to shadowing you - don't flatter yourself. If my motive was revenge or spite then I'm capable of being a lot nastier than this, as you well know.

Di Caniooooo! wrote: Welcome to my world, anytime I post he's never far behind.

Anytime? Really? I think that's a claim open to easy refutation.

Boneyskank wrote:

Luis wrote: Give it a rest Saints. Just because you got wound up yesterday you don't need to keep shadowing me with irrelevant and boring posts.

Irrelevant? You're the one who managed to turn a thread about Pompey going bust into a bitch about a Man Utd player. As to shadowing you - don't flatter yourself. If my motive was revenge or spite then I'm capable of being a lot nastier than this, as you well know.

No, I don't know, what are you talking about?

Why are you trying to make out that you're in any way a threat to me? I don't know you and never will know you. This is an internet forum, no one can really do any damage to anyone else unless you're as sad as lrd was and you end up in court or in jail.

I posted a harmless, sweeping comment that if someone like Debaser or Ade posted, you'd sweep under the rug or agree with them. It's a bit pathetic to have such a lengthy agenda against someone who was a bit of a nob from 15-17 or so. I've not used abusive language to anyone on here in years. I always try and aknowledge other poster's views even if I don't agree. Your problem is you're forever harping on about what it takes to be a good writer or debater but you choose to get agressive if you don't agree with someone's arguement.

Diddums. Drink not cold enough?

Boneyskank wrote:Diddums. Drink not cold enough?

I've never seen one man lose so many arguements that he tries to start in the space of a few days. You're the Roy Hodgson of Euroboard

Only you could conceive of this as me losing an argument. But thanks for taking an interest.

Luis wrote:This is an internet forum, no one can really do any damage to anyone else unless you're as sad as lrd was and you end up in court or in jail.

Did he really?

TheCrazy58 wrote:

Luis wrote:This is an internet forum, no one can really do any damage to anyone else unless you're as sad as lrd was and you end up in court or in jail.

Did he really?

What'd he do?

One post so far about Portsmouth

Ok Padster, it's a tragedy, like when the Queen mother died.

Kimbo wrote:Ok Padster, it's a tragedy, like when the Queen mother died.

It is a tragedy. Pompey have been treated appallingly. Can't help thinking that if the FA had actually enforced the fit and proper person test they would have found a proper owner and this would not be happening to an historic club that deserved better. Also they should have been allowed to play in Europe this season. It would have raised some cash, even if a drop in the Channel.

EMP wrote:

Kimbo wrote:Ok Padster, it's a tragedy, like when the Queen mother died.

It is a tragedy. Pompey have been treated appallingly. Can't help thinking that if the FA had actually enforced the fit and proper person test they would have found a proper owner and this would not be happening to an historic club that deserved better. Also they should have been allowed to play in Europe this season. It would have raised some cash, even if a drop in the Channel.

The FA are weak and should be disbanded, they don't police the game at all. My point is we've known this was coming for a long time.

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/9121791.stm

Portsmouth reach deal to survive