Pompey on the brink

[tel]

Portsmouth FC are on the brink of being liquidated as their former owner has not signed the document he agreed to previously.Even his lawyers flew to Paris to witness his signature to the document today  which would have meant the club would  exit administration but at the 11th hour he again changed the goalposts (so to speak) and is holding the club to ransom for a one off huge payment even though his money has been guaranteed to be repaid.

[tel]

All well that end well I guess, as the former owner hit back and said he wasn't at fault as the club altered the document but now it has been amended and will be signed asap,allowing Pompey to exit administration. To much finance dictating sport these days,so complicated.
Gretna Green was a shock,not living in the UK,I hadn't realised they went bust after that purple patch under new ownership.
Can any club survive if the backers stop putting their money in.Is there any club not running on massive loans?

[GordonA]

It has just been announced on South Today, ( local T.V. news channel ), that Pompey have, ONCE AGAIN, escaped Administration!!
Gordy.

[tel]

Gordy,I would love to hear where all the money from the sales of players went and who was responsible for the mess in the first place. Apart from the two doomed arab takeovers and how was that allowed to happen?

[GordonA]

Yep, totally agree, Tel, one Arabic type 'gent' turned up with the arse literally hanging out of his trousers, dressed like a tramp, and tried to convince Pompey that he had the financial wherewithal to buy the club. HE DID NOT!! I couldn't really care less what happens to them, but would just like to know how they have managed to escape the 'axe', on more than one occasion this season ?
Gordy.