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is it the end?
not looking very good.
not looking very good.
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Portsmouth could go out of business if they lose their court case against the tax authorities on Thursday, according to the club's lawyer.
Her Majesty's Revenue and Customs says it is owed £13m more than the £24m claimed by Portsmouth's administrators.
Richard Sheldon QC says that if HMRC wins, the club will "not be able to give the Football League the assurances it needs to fulfil its fixtures".
"It will go out of the league. The club will probably be liquidated," he added.
High Court judge Mr Justice Mann, who is overseeing the tax liability case, will hand down his decision between 1500 BST and 1600 BST on Thursday.
DAN ROAN BLOG
The very existence of Pompey hangs in the balance
Portsmouth's lawyer, Sheldon, added that if the club loses the case then it would prevent former owner Balram Chainrai, who put the club into administration in February, buying it for a second time.
Sheldon added: "If the club is not sold it will clearly be relegated out of the Football League.
"The administrators cannot give the assurances needed that this season's fixtures can be completed.
"It will then go out of the Football League and into some distant league, but the reality is that it will probably go into liquidation because the administrators will not be able to fund the continued business."
The Premier League clubs wanted Portsmouth to go to the wall and divide all the TV money among themselves
Earlier on Wednesday Sheldon claimed that Premier League clubs wanted Portsmouth to go bust last season when the full extent of their financial problems emerged.
Sheldon told the court that it was only the intervention of Premier League chief Richard Scudamore that saved the club.
The other clubs wanted "to boot Pompey out there and then", Sheldon said.
He added: "The clubs wanted Portsmouth to go to the wall and divide all the TV money among themselves."
That prospect was avoided, however, when Scudamore persuaded the clubs to give Pompey an early parachute payment, allowing them to complete the season.
Portsmouth, who remain in administration, were docked nine points for becoming the first Premier League club to go into administration and were duly relegated at the end of the season.
Her Majesty's Revenue and Customs says it is owed £13m more than the £24m claimed by Portsmouth's administrators.
Richard Sheldon QC says that if HMRC wins, the club will "not be able to give the Football League the assurances it needs to fulfil its fixtures".
"It will go out of the league. The club will probably be liquidated," he added.
High Court judge Mr Justice Mann, who is overseeing the tax liability case, will hand down his decision between 1500 BST and 1600 BST on Thursday.
DAN ROAN BLOG
The very existence of Pompey hangs in the balance
Portsmouth's lawyer, Sheldon, added that if the club loses the case then it would prevent former owner Balram Chainrai, who put the club into administration in February, buying it for a second time.
Sheldon added: "If the club is not sold it will clearly be relegated out of the Football League.
"The administrators cannot give the assurances needed that this season's fixtures can be completed.
"It will then go out of the Football League and into some distant league, but the reality is that it will probably go into liquidation because the administrators will not be able to fund the continued business."
The Premier League clubs wanted Portsmouth to go to the wall and divide all the TV money among themselves
Earlier on Wednesday Sheldon claimed that Premier League clubs wanted Portsmouth to go bust last season when the full extent of their financial problems emerged.
Sheldon told the court that it was only the intervention of Premier League chief Richard Scudamore that saved the club.
The other clubs wanted "to boot Pompey out there and then", Sheldon said.
He added: "The clubs wanted Portsmouth to go to the wall and divide all the TV money among themselves."
That prospect was avoided, however, when Scudamore persuaded the clubs to give Pompey an early parachute payment, allowing them to complete the season.
Portsmouth, who remain in administration, were docked nine points for becoming the first Premier League club to go into administration and were duly relegated at the end of the season.
I don't want to see Pompey liquidated - I know from 1986 what it feels like to face having your club wiped out.
However their debts were £120m and rising and no one was wiling to pick up the tab or take responsibility for letting them get into such a position over just a 4 year period. They still have players that can be sold which they need to do, they will need to sell the stadium and training ground and rent them back. They need to renegotiate contracts with any players on more than £5k a week or sell them. The players will not like it but if the club goes under they will have nothing.
The TV parachute money can be used over the next 2 seasons to pay creditors off too. The club can be run on players earning £5k a week and survive in the Championship. I have laid them in the relegation market as I think they can hold their own in the Championship.
From a betting point of view - are bets on Pompey void if they don't fulfil their fixtures?
However their debts were £120m and rising and no one was wiling to pick up the tab or take responsibility for letting them get into such a position over just a 4 year period. They still have players that can be sold which they need to do, they will need to sell the stadium and training ground and rent them back. They need to renegotiate contracts with any players on more than £5k a week or sell them. The players will not like it but if the club goes under they will have nothing.
The TV parachute money can be used over the next 2 seasons to pay creditors off too. The club can be run on players earning £5k a week and survive in the Championship. I have laid them in the relegation market as I think they can hold their own in the Championship.
From a betting point of view - are bets on Pompey void if they don't fulfil their fixtures?
Even the car park is out of bounds now to them it seems. Coaches for the Coventry game on Saturday have to leave from the bus stop down the road!
The Tax man is about £3B too late with football clubs
I assume the 76 refers to the cup win rather than the year you were born? Who would be your rivals then, Bournemouth or Basingstoke? I wouldn't want Brighton or Millwall to go out of business.
pompey fans must be sweating.
the debts are huge though.
the debts are huge though.
analyst...
i think portsmouth are classed as relegated on betfair if they go bust
i think portsmouth are classed as relegated on betfair if they go bust
From what was said on SSN can't see HMRC losing either today or on appeal.
agree with u nobby...
this has been waiting to happen to somebody for quite a while i think...and with, what looks like hidden cash from previous regimes, i think the authorities want their pound of flesh from portsmouth
this has been waiting to happen to somebody for quite a while i think...and with, what looks like hidden cash from previous regimes, i think the authorities want their pound of flesh from portsmouth
If they do go to the wall, the premier league need to have a fit and proper person test to run a league that has such laughable fit and proper person criteria to run a club.
glad theyve staved off closure for now...
but i just feel its gonna be one hell of an onslaught coming from the taxman in the next round
but i just feel its gonna be one hell of an onslaught coming from the taxman in the next round
I cant understand how portsmouth can still have valuable players on high wages at the club when they owe so much money.
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