So the survival of Pompey is still not guaranteed. Her Majesty's Revenue and Customs seem intent on pushing this to the wire, demanding proof that the Administration process is valid. There remains a chance, albeit slight, that Pompey could be wound up and their results expunged from the season's record. With Pompey taking 3 points off Burnley at the weekend, this would hit us even harder now than when it was first mooted.
Meanwhile, the Pompey players must be wondering whether it is worth bothering. The whole point of HMRC's action is to shift the prioritisation of debts. Whilst in Administration, the player's wages take priority over the outstanding debts to the taxman. If the HMRC are successful, then the club is wound up, the players no longer have a claim and the taxman gets his nose into the trough along with all the other creditors.
On the basis that if it can go wrong, it will go wrong, then we still have cause to worry. The sooner this is resolved the better.
I've read the reports on what went on leading to the appointment of Andronikou as administrator and I fully understand the reaction of the HRMC. The whole thing seems to have been manufactured to enable the current owners to seize the upper hand by appointing their own administrator. The way the ownership was transferred and the secured debt that was put in place with charges on the ground and other assets of the Club seems very suspect. I don't know what will be the result of the appeal by HRMC but I agree with HF that we are not out of the woods yet regarding the winding up of Portsmouth and how the Premier League may have to deal with this event. Come to think of it now it becomes more comprehensible to me why Peter Storie is still around. They would surely have needed his co-operation to put this together and execute it.
ReplyDeleteone comment (now two) in two days... that's more like it
ReplyDeleteAnd 45 on another thread listed on the same day. Not that the number of comments matter, it's the number of hits that counts.
ReplyDeletehits, really? says who?
ReplyDeletehttp://www.thesun.co.uk/sol/homepage/sport/football/2782167/ONeill-Football-has-gone-crazy.html
Hardly original are you?
Am I not?
ReplyDelete