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The Administration Thread


Boycie

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4 minutes ago, Oldben said:

Hasn't Q failed in terms of not giving the fans enough information and I've not seen any information from them to the fans about the process.

I think we’d all agree they’ve done a great job. I personally have been pleasantly surprised at how quickly things have moved forward - just like they said we fans would be a few months ago.

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28 minutes ago, Dai Capp said:

Not sure the split is quite as clean as they say there... £21.4m clears debt as per Kirchners bid and around £23.5m clears the stadium at £20m plus the additional approx £3.5m secured against it when MSD loaned more money to keep us going... so I guess around £45m does it... So in total it's pretty much there I think - Just need Q to stop sitting on their hands and take some action

£3.5m will be included with the club fees.

Club: £20.6m minimum

Stadium: £20.5m

HMRC may demand more than 35%, so club amount may be higher. Also some Bielik (and Jozwiak) installments to pay over the next couple of seasons.

I estimated £7m running costs for the season. Appleby's £5m will likely require cuts to the academy (whilst still maintaining Cat 1 status) or a player sale may already be factored in.

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1 minute ago, Ghost of Clough said:

£3.5m will be included with the club fees.

Club: £20.6m minimum

Stadium: £20.5m

HMRC may demand more than 35%, so club amount may be higher. Also some Bielik (and Jozwiak) installments to pay over the next couple of seasons.

I estimated £7m running costs for the season. Appleby's £5m will likely require cuts to the academy (whilst still maintaining Cat 1 status) or a player sale may already be factored in.

So huge fan support at ground is vital to help us

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2 minutes ago, Ghost of Clough said:

£3.5m will be included with the club fees.

Club: £20.6m minimum

Stadium: £20.5m

HMRC may demand more than 35%, so club amount may be higher. Also some Bielik (and Jozwiak) installments to pay over the next couple of seasons.

I estimated £7m running costs for the season. Appleby's £5m will likely require cuts to the academy (whilst still maintaining Cat 1 status) or a player sale may already be factored in.

I suspect we may be looking at selling a player to clear any football creditors.  Clean slate going forward .  Knights taken his agents advice and put himself in the shop window with those motm performances for Ireland .  If we can get 3-4 clubs on the hook he will probably bring in enough.

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3 minutes ago, Ghost of Clough said:

£3.5m will be included with the club fees.

Club: £20.6m minimum

Stadium: £20.5m

HMRC may demand more than 35%, so club amount may be higher. Also some Bielik (and Jozwiak) installments to pay over the next couple of seasons.

I estimated £7m running costs for the season. Appleby's £5m will likely require cuts to the academy (whilst still maintaining Cat 1 status) or a player sale may already be factored in.

The important thing is we survive now and have the opportunity to flourish, as a club, in the future. 

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3 hours ago, ColonelBlimp said:

Thanks for that.

Ahh, school trips to Butser Hill, Marwell Zoo

When I was at school in Hamble, Pompey fans were known as scummers, is that still the case? or do you call each other that ?Been a while, mind.

I've often considered Pompey and Southampton to be a little bit like Derby and Forest.

Have you renamed the M27 to be Harry Redknapp Way, yet?

 

Haha - We call them scummers: I know a few of theirs reciprocate but their main term for us is 'skates': supposedly due to a method that naval folk found to gratify themselves when away at sea back in the distant past. 

Unlike Cloughie, Harry Redknapp did a brilliant job at St. Mary's from a Pompey fan's perspective - went there, got them relegated then came back and instigated our Great Escape from a PL relegation followed by an FA Cup win a few years later ?

That was all built on sand, of course, and we went through a couple of admins - arguably not helped by some of the parties involved in yours at the moment.  I know the EFL aren't popular on here and undestand why; but there are people involved on that side who might well end up helping you in the longer term - as I said in my first post the key thing for you could well be getting a clean break from the previous ownership.

I'll say hello to the tigers at Marwell for you!

 

 

 

 

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4 minutes ago, Gee SCREAMER !! said:

I suspect we may be looking at selling a player to clear any football creditors.  Clean slate going forward .  Knights taken his agents advice and put himself in the shop window with those motm performances for Ireland .  If we can get 3-4 clubs on the hook he will probably bring in enough.

We'd be foolish to pay off football creditors up front, considering a decent chunk of it will be if we win promotion to the PL over the next 2 seasons with Bielik.

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30 minutes ago, I know nuffin said:

Didn't CK or someone else depending who you believe put 1.5 million in for Mays wages do 5 million won't go far unless we sell

There is a massive difference between May and July onwards. In May there was next to no income for the club and a number of players on high wages to pay. From July onwards there will be the normal income from season tickets, match day sales, tv revenue and other commercial income. Added to this, there will be a mostly new squad on lower wages to reflect our position.

Clubs like Walsall have been able to make a profit for 13 consecutive years on a turnover of less than £7M, so it is possible for clubs to make money at this level.

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1 hour ago, Gritstone Ram said:

That sounds more than enough although a bit light on the £5m running the club. I reckon he needs to up that to £10m and get some good players in.

Ha. You think HMRC and the EFL are going to allow the club to splash some cash over the next couple of seasons. No hope and …

 

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19 minutes ago, downsouth said:

 

Haha - We call them scummers: I know a few of theirs reciprocate but their main term for us is 'skates': supposedly due to a method that naval folk found to gratify themselves when away at sea back in the distant past. 

Unlike Cloughie, Harry Redknapp did a brilliant job at St. Mary's from a Pompey fan's perspective - went there, got them relegated then came back and instigated our Great Escape from a PL relegation followed by an FA Cup win a few years later ?

That was all built on sand, of course, and we went through a couple of admins - arguably not helped by some of the parties involved in yours at the moment.  I know the EFL aren't popular on here and undestand why; but there are people involved on that side who might well end up helping you in the longer term - as I said in my first post the key thing for you could well be getting a clean break from the previous ownership.

I'll say hello to the tigers at Marwell for you!

 

 

 

 

Watch out for the docky oysters in winter, fella.?

Had some great times down in Pompey - hope we get the chance to visit Fratton Park again soon. 

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4 hours ago, RoyMac5 said:

Some figures in here:

"Figures from Quantuma in April revealed that HM Revenue and Customs' total claim for unpaid taxes has risen to £36m, from £28m.

The club also owes finance company MSD £24m, while Quantuma themselves accumulated costs of £2.1m in the first six months of administration."

Plus:

"No pre-season fixtures have been confirmed by the club, before their first season back in England's third division since 1986, and it is not known who will pay the club's June wages.

BBC Sport understands the administrators are likely to seek more external funding to allow them to pay those wages."

Thanks for posting @RoyMac5.  What’s striking about this is that Appleby and Co totally rebuilt us with careful management over 6 years.  After throwing everything at trying to stay in the PL they became more prudent, trimmed the wage bill and looked for bargains in the transfer market.  Then, bringing in Mac who let the shackles off we got to Wembley in 2014.  In the same period from 2015 MM blew a load of cash when it needed evolution not revolution and we ended up in administration.

Personally, I’d take 6 years of a careful and steady rebuild.  Play the long game.

Edited by FlyBritishMidland
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