- 28 Oct 2002
- Reaction score
I don't agree - I think that the CVA will ensure that they are not burdened with debt and the club will be properly financed by the supporters trust. It will become another club owned and financed by its supporters, which to my mind is how all sporting clubs should be structured.
I don't understand the bile towards the supporters - I think all of the unhappiness about the non payment of creditors etc should be aimed at the previous owners of the club, who incidentally were deemed fit and proper by the FA. It does occur to me that if football supporters are so upset by creditors not being paid they should campaign to the FA to remove the football creditor rule as this is the main reason ordinary creditors don't get paid.
I don't much like Portsmouth FC, but I don't like to see clubs with a history go out of business because of the practices of foreign owners which were fully condoned by the football authorities.
The club will have a debt, to the ex players they released, who I believe are guaranteed the last parachute payments to pay off their contracts.
To renegade in two CVA's to its creditors is totally wrong. The supporters backed the club. If they felt strongly enough about the takeovers they should've lobbied the FA and FL showing proof as to why the potential new owners are flawed and shouldn't be allowed to own PFC. The supporters group have raised £2.5 mill?? That's not enough to buy and then run a club. If the supporters do get to own and buy the club, along with Fratton Park, the budget plans have to show to the FL that they can pay off creditors, have an affordable playing budget & accept 10 point penalty.
In this country, supporter owned clubs won't work under the current rules, BFC would be struggling if MB wasn't around, Wycombe are struggling, Exeter are just coping and AFC Wimbledon aren't faring better either, there aren't any other supporter owned clubs in the FL, the rest are all nonleague.