Administration

Rangers into administration and it looks like Pompey will follow. How many other clubs are struggling? What's it all about?

It is all about a business operating beyond their means. They owe £49 million. I am sure they will come to a deal where they will pay 0.07 pence in the pound

Don't forget your unbudgeted operating loss in six figures Red Star.

Players wages , including ours , have been far too high for far too long.Until the football industry rectifies this problem the situation will only get worse resulting in a household name going out of business.The situation at Portsmouth looks even worse than ours was , they may be the first to go.As i see it a realistic maximum wage needs to be introduced at all levels of the game.

If a maximum wage was introduced it would have to be policed very rigorously! There would be so many tricks to be pulled - a thousand pounds in readies into the back-pocket in the changing rooms, off-shore bank accounts.

A cap on spending might be workable but would unfairly hit the clubs with a smaller potential fan base or with significant clubs in the near vicinity. Macclesfield or Brentford spring to mind.

I would prefer a greater share of money being made available to the lower leagues as opposed to the premier but I can't see the Premier league bullies agreeing to that.

Hmmmm..... is the game as we know it buggered!?

Old Timer wrote:

Players wages , including ours , have been far too high for far too long.Until the football industry rectifies this problem the situation will only get worse resulting in a household name going out of business.The situation at Portsmouth looks even worse than ours was , they may be the first to go.As i see it a realistic maximum wage needs to be introduced at all levels of the game.

A team going out of business ok to be honest the sooner it happens the better, I know that sounds harsh but it's the only way anyone is going to take any notice

Football can't carry on the way it is

Grumpy wrote:

A team going out of business ok to be honest the sooner it happens the better, I know that sounds harsh but it's the only way anyone is going to take any notice

Football can't carry on the way it is

I agree Grumpy, but it would need to be a big team to make anyone sit up & take notice. I don't think Portsmouth are big enough to make a difference personally.

Pompey will be fine. If they into adminstration local businesses will be properly shafted - and probably more than a few will go out of business as they won't get their money owed - but the club I'm sure will be taken over. One things for sure, they won't have to endure getting (not) 'saved' like us. They'll never be faced with non-league oblivion.

I think (but may be wrong - so please feel free to shoot me down) there's a problem with wage capping, in that won't it have to be EU wide? Employment laws and all that.

The way round it is, as we have to in L2, wages being capped as a percentage of turnover. The only limit to a players wages is the success of the club.

Trouble with that is that there are ways around that too with massive sponsorship deals obviously being part of turnover. You're then back to square one (nice footie cliche) with only the big clubs, who attract massive sponsorship being able to offer large wages. Players being players, with short careers will clearly go where the best wages are. (Wouldn't we all?)

Rangers have already mortgaged their next 4 years season ticket sales. That must be some serious wedge. What for? To either finish first or second...bizarre.

The only remit for the GasBoard should be to ensure it gets enough information so that we don't sleepwalk into administration again.

I don't know what the Pompey or Ranger fans have been doing to scrutinise their own clubs but I will have no sympathy even for Argyle if groups like the GasBoard or the Trust don't hold this board to account.

Freathy wrote:

Pompey will be fine. If they into adminstration local businesses will be properly shafted - and probably more than a few will go out of business as they won't get their money owed - but the club I'm sure will be taken over. One things for sure, they won't have to endure getting (not) 'saved' like us. They'll never be faced with non-league oblivion.

They have a real possibility of going to the wall, Any new purchaser will have to guarantee £12m to see them through till end of season plus £20m for money owed to former landlord and owner, So any new owner coming in will have to throw £32m minimum just to keep the club afloat, let alone invest in it, cant see many having that sort of dosh to throw about.

Fratton Park is really their only asset, whoever owns that is sitting on a gold mine for residential housing, But the club its self could be wound up and re-started again in the lower leagues, Maybe ground sharing at the start with Havant & Waterlooville.

This whole sorry sage has been an accident waiting to happen, Even when they were in the Premiership they were paying players £50k+ a week on crowds less than 20k. TV money or not, those figures are suicide

Freathy, if I was so clearly as unhappy as you are with everything to do with Argyle I would seriously consider getting another hoby and giving up on this one.

You have absolutely no idea what state Portsmouth are in apart from what you read about it like the rest of us. There is no guarantee any club will be saved except to say some would have a better "chance" than others. We had a buyer in the end even if it was all a bit of a struggle so not as unsaleable as the downhearted might forecast. The only guarantee is that soon a club will go to the wall because HMRC will continue with it's battle until it finally gets one. They will certainly keep on at Portsmouth having been pee'd off with them and football from the previous encounter.

It may have been difficult for Argyle and it may have been touch and go but we have been sold and like it or not we have a new owner who will do what he does with or without our consent. Griping at everything will not change that so perhaps it is time to go with the flow or get off the raft and change your fishing ground.

Sensiblegreeny wrote:

Freathy, if I was so clearly as unhappy as you are with everything to do with Argyle I would seriously consider getting another hoby and giving up on this one.

You have absolutely no idea what state Portsmouth are in apart from what you read about it like the rest of us. There is no guarantee any club will be saved except to say some would have a better "chance" than others. We had a buyer in the end even if it was all a bit of a struggle so not as unsaleable as the downhearted might forecast. The only guarantee is that soon a club will go to the wall because HMRC will continue with it's battle until it finally gets one. They will certainly keep on at Portsmouth having been pee'd off with them and football from the previous encounter.

It may have been difficult for Argyle and it may have been touch and go but we have been sold and like it or not we have a new owner who will do what he does with or without our consent. Griping at everything will not change that so perhaps it is time to go with the flow or get off the raft and change your fishing ground.

So are you saying shut up and enjoy the ride ?

No I'm not but to find something to moan about for the sake of it half the time is a tad tiring to say the least. The alternative in the end was pretty much Brent or nothing. Not the best outcome there could have been perhaps and if things had been done by others differently then it would not have been that way. But we are where we are and are not into the oblivion stage quite yet even if staring into the BSP. Despite the gloom even that would not spell the end of Argyle so why people have to be doom sayers at every opportunity I have no idea. Unless it's just for affect of course. Just because it's Argyle doesn't have to mean everything has to fall apart from here on.

Sensiblegreeny give up mate, they just can't stop moaning on here......it's a good job you don't have to wear yourself out by having to tell that PASOTI lot to pick their bottom lips up as well.

I've just read back through this thread and there has been just one "moan" about Argyle. The rest have been constructive or passing comments.

Freathy is .... Freathy. I believe he has on more than one occasion said something positive - once a few weeks ago and, I think, once in 1974 or thereabouts. ATD wouldn't be ATD without the resident Jeremiah. I've grown to love his posts.

ZYPH, I wouldn't even want to waste my time on PASOTI. The site holds no interest for me and I leave giving them a hard time to my son. And others on here of course. I appologise knecht I hadn't realised Freathy was such a happy person at least some of the time. It worries me that he might have sharp knives in his reach or be passing a high point or something and be tempted to jump.

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Fratton Park is really their only asset, whoever owns that is sitting on a gold mine for residential housing, But the club its self could be wound up and re-started again in the lower leagues, Maybe ground sharing at the start with Havant & Waterlooville.

This whole sorry sage has been an accident waiting to happen, Even when they were in the Premiership they were paying players £50k+ a week on crowds less than 20k. TV money or not, those figures are suicide quote


On five live last night Portsmouth CEO said the main problem was breaking up the surrounding developing land from the stadium. The new owners would have to try to buy back this land to have any chance for Portsmouth to survive.
Have I seen this land splitting somewhere nearer home?

Our Administration fallout still going on

Another of Heaney's Argyle related companies has applied to be struck off and dissolved, this time it's Plymouth Retail Park Limited.

Heaney was the only director and the only shareholder was the Gibraltar registered company Cornish Land (Holdings) Limited. :wave:

We were in a precarious position in L1 when we went into administration but the 'hard working gentleman' so loved by certain 'fans' sold what decent players we had left which meant we remained rock bottom of the division with absolutely no hope of survival. Then we were (not) saved by the non-investing brent who has all but assured our ejection from the football league altogether. All Pompey fans need do is look at us realise things aren't so bad for them after all.

I think that when we are relegated the loss of revenue will be so dramatic that potentially we could be looking at another administration within the next 2 years, don't think we would survive another one.
Brent will back up to London like a rat up a drainpipe once he realises this club is failing......once again.

Of course Glasgow fc could be saved by allowing them into the premier league, which in turn would guarantee us non league football, I don't know why the fa haven't done it already?

Sensiblegreeny wrote:

ZYPH, I wouldn't even want to waste my time on PASOTI. The site holds no interest for me and I leave giving them a hard time to my son. And others on here of course. I appologise knecht I hadn't realised Freathy was such a happy person at least some of the time. It worries me that he might have sharp knives in his reach or be passing a high point or something and be tempted to jump.

I used to think Freathy was a moaning,needlessly negative old barsteward at one time.But frighteningly,just about every one of his utterances about the Argyle scenario have proved to be correct over the past four years or so. And who is to say that his observations re Brent and Fletcher will be off the mark? Certainly i hope they will be,but i'd much rather read Freathy's posts than some of the complacent,happy clappy bullshit which have for so long characterised many Argyle fans and which IMHO,played some part in our downfall.Freathy is a darned good counter balance and long may he continue to flourish.

BRENT OUT,FREATHY IN!

The thing I'm happy to have learnt about Freathy over the years is that amongst all the negativity, he has been absolutely bang on the money with predictions about the non football, business side of Argyle. You ignore him, or laugh him off at your peril. Unfortunately, there's none so blind as those that cannot see in the run up to the darkest period.

If we do indeed get relegated, is administration again likely? I don't think there's too many massive contracts to honour next season. The wage bill, which is of course one of the major expenditures, will not be so much of an issue. What will be an issue, is the bit we don't know. How much are we paying for the football related debt on a monthly basis?