Wolves over relegation zone if Pompey gets liquidated?!

Portsmouth are facing Her Majesty’s Revenue and Customs (HMRC) today to try to avoid the winding-up order. There are much speculations on the net about what could happen if they’re not succesful at this.

One far fetched possibility is that Pompey will be liquidated. In that case all points that other clubs in the Premier League has gained playing against them will be dropped.

For Wolves that would be a clear advantage, as we have not gained any points from playing against them. This is how the bottom of the table would look if Pompey was liquidated:

Sunderland… 23
Burnley… 23
Hull…. 23
Wolves… 21
————–
Bolton…. 19
West Ham…. 17
Pompey…. 0

Looks rather nice, doesn’t it? We are over the relegation line and Sunderland, Burnley and Hull are closer to us.

But it is very unlikely that this will happen, and it would be a sad day for football if it did. More probable is that Pompey will continue to struggle with their debts and a couple of new owners will come in. But sooner or later I believe they will be going into administration and loose ten points. The question is if this will happen this season or the next.

Paddytheflea

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~ by paddytheflea on February 10, 2010.

14 Responses to “Wolves over relegation zone if Pompey gets liquidated?!”

  1. If Pompey get liquidated, they go out of business – so the Prem league will only have 19 teams, so Wolves will be in the bottom 3.

    A club that doesn’t exist cant get relegated!

  2. Please get your facts right. Premier League Rules state, Section C rule 60, “Upon a Club or its Parent Undertaking suffering an Event of Insolvency the Board shall have the power to impose upon the Club a deduction of 9 points scored or to be scored in the League competition. If the Board exercises this power it shall forthwith give written notice to the Club to that effect.”

    So, it would only be 9 points. Fact!

  3. What’s the betting that the PL would take this opportunity to bow to international demand and reduce the League to 18 clubs, with three being relegated despite Pompey’s demise? 😉

  4. It would be a sad day for football – BUT -they have consistantly been putting up delaying tactics all season, if they had been in any other league but the prem they would have been wound up a lot sooner, is it fair on other clubs who have gone into admin – palace, leeds, southhampton, stockport etc,etc,I belive that they should be – sad to say- too many clubs are going in way above their means and this is not good for football! thank god we have people who know how to run a business.

    • I agree totally, johnwolf. A lot of very shady people among owners of PL clubs lately. Something should be done.

  5. After this mornings early hearing, the possibilty of Portsmouth going bust has appeared ever closer. Now I don’t want to see any football club going bust, even those who have stretched themselves over their limits but should it happen, EVERY professional club will get the shivers and be wondering ‘could we be the next?’ – Cardiff being a case in point!
    In Wolves case, thanks almost exclusively to Sir Jack’s generosity, we are not in any debt but as we know, many clubs are. United and Liverpool are the biggest of those (Chelsea were also but Abramovich ‘exchanged’ the debt owed to him into shares leaving them virually debt free) but how may of the ‘smaller’ clubs are in it up to their necks, we don’t know – YET!
    IF Portsmouth should be liquidated then Wolves rather gratefully will be the recipient of a points ‘windfall’ as you rightly point out Paddy.
    It would not be the way any Wolves fan would want for us to leave the relegation zone but hey this is life, we did not get into debt, Portsmouth did!
    Anyway, whatever happens later today at the hearing, Wolves still have a game to play tonight and 3 points are vital if we are to keep amongst the other relegation zone teams, defeat would make the atmosphere even more tense and confidence would drop to yet another lower level.
    So come on boys, 3 points and the double over the Spurs tonight!

    • Yes, Laurie!
      That is the right spirit. We can take three more points from Tottenham. They are not at all as good away as at home – and look what happened in London!

  6. It would be sad but as Johnwolf says other clubs have suffered in the past so a level playground should be the order of the day. This is one reason I respect Jez Moxey and the Wolves board in not paying silly money/wages for players.

    • Yes. As it is now they could really earn they stay by loaning the money to get the players to do it, and that does not feel right for clubs like Wolves who are keeping their economy tight, sound and in order.

  7. Dave Whelan constantly gets criticized for being a tightwad, even by our own fans, but Pompey (and Leeds before them) show what happens if you pay stupid transfer fees and over the top wages. If you keep the finances under control at least you don’t implode if you get relegated. Good luck – hope it’s Pompey, Hull & Horwich Wanderers (aka Bolton – local joke) for the chop.

  8. selfish cunts! play up pompey

  9. EXTRA NEWS!!!

    The BBC now reports that Pompey gets another week to show they are solvent, that is that they have a plan and can show that they can pay up in a reasonable time.

    They inerview a couple of officials
    Court registrar Christine Derrett:

    “I am very concerned about the financial status of this company. It seems to me there’s a very real risk that this company is undoubtedly trading while it is insolvent.

    “I’m obviously conscious that, by making a winding-up order, it would have very severe consequences not only for the company as a business but for the supporters themselves, but that’s not a consideration that I strictly take into account.”

    Gregory Mitchell QC, who represented HMRC:

    “It’s quite clear, beyond any doubt at all, that this company is insolvent.

    “They have failed to provide any evidence at all as to their solvency. There are many debts and they are unpaid.”

  10. I personally would prefer to stay up on merit and I suspect that Pompey will finish bottom regardless of what happens financially to them. So from that point of view the more points they take off our relegation rivals the better and they can`t do that if they fold.

  11. EXTRA NEWS!!!

    OFFICIAL STATEMENT FROM PORTSMOUTH

    “Portsmouth Football Club today welcomed the decision by the High Court to allow the club time to demonstrate its plans to restructure and stabilise the
    business under new owner Balram Chainrai. The club was given seven days to produce a statement of affairs for the court and HMRC and this will be produced in conjunction with Vantis plc, a firm of accountancy and insolvency practitioners.

    Following this submission a hearing will be convened on the first available
    date after Friday, February 19. In January, the club was granted leave to appeal the judge’s decision on the application to strike out the HMRC petition. The total outstanding on the petition in December was £11.5m. This includes £5.8m of disputed VAT, £1.1m of undisputed VAT and £4.6m due on PAYE and NIC.

    In relation to the PAYE and NIC, £4.5m has subsequently been paid, leaving £7m outstanding. However, the total amount of VAT included which is subject to a dispute is £7.4m (of which £5.8m has been petitioned for). Therefore we contest that there is no payment due.

    There was a further submission issued late yesterday in relation to £4.7m,
    which included £3.8m PAYE. The club is making arrangements to pay this to bring
    the club up to date with PAYE payments.

    The club will show that the business will be sustainable as a going concern and
    how it will deal with outstanding creditors as a result of the recent takeover.

    Balram Chainrai’s trustees – chief executive Peter Storrie and Ashok Patel of Balsara & Co – are in advanced discussions with more than one interested party who have the ability to further stabilise and grow the business.

    The club would like to thank the staff, players and fans for their continued
    support through this difficult period.”

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