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Chapter 6,200 in my lecture on how Fkd up football has become...
Pompey owe £130m, are in Administration and are yet to settle with their creditors. In short they should be primed to fall through our league next season.
HOWEVER, despite this, they are able to offer England's first choice goalkeeper and three other Premiership class players new contracts. It appears to me that they wil be able to exit Administration by paying perhaps 23p in the £ and then they will be considered debt free. Then they get £48m over four years in parachute payments - talk about landing on your feet!
Surely, when a team falls like they have, the first thing they should be forced to do before they are allowed to play competitively is sell every player to pay off the majority of the debt. The price for all players could be set by tribunal and only when all saleable assets are gone should they be allowed to start settling with their creditors. Future payments, such as parachute payments and TV money should also be ringfenced to pay off creditors further.
Instead, they will potentially be back on their feet before next season starts - how can that be right?
Pompey owe £130m, are in Administration and are yet to settle with their creditors. In short they should be primed to fall through our league next season.
HOWEVER, despite this, they are able to offer England's first choice goalkeeper and three other Premiership class players new contracts. It appears to me that they wil be able to exit Administration by paying perhaps 23p in the £ and then they will be considered debt free. Then they get £48m over four years in parachute payments - talk about landing on your feet!
Surely, when a team falls like they have, the first thing they should be forced to do before they are allowed to play competitively is sell every player to pay off the majority of the debt. The price for all players could be set by tribunal and only when all saleable assets are gone should they be allowed to start settling with their creditors. Future payments, such as parachute payments and TV money should also be ringfenced to pay off creditors further.
Instead, they will potentially be back on their feet before next season starts - how can that be right?
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