An article from Pompeytim. Forget the 10-point penalty dished out yesterday, it is the football league conditions that could see liquidation a likelihood now? Read on for more.
Sat in a pub last night I was feeling pretty glum at how the football world had conspired against Pompey & kicked us in the balls after they had already been cut off & shoved down our throats.
But then I saw in a Guardian article on Newsnow that the Football League have made it a condition of League One entry that Portpin can’t transfer more than a small fraction of the secured debt to the NewCo.
This is powerful stuff, even though 10 points, which is just a short term thing, makes all the headlines.
Portpin can only keep a small amount of secured debt? So they won’t get their £18m back. Further tough league regulation makes asset stripping the parachute payments impossible.
So, this COULD lead to Portpin walking away.
The Trust may be the only show in town. Yet we have no detail & we know that unless people like TBH leave, they have no bid.
Could we not see a new season for Portsmouth 1898??
Written by and initially posted in the forum here
The views within this article are the views of the individual who wrote and submitted this piece, sometimes solely theirs. They are not necessarily shared by the Vital Pompey Site Journalists.
Vital Pompey on: Vital Pompey on: