DavidEU 2,023 Posted October 22, 2010 Share Posted October 22, 2010 Portsmouth Football Club is extremely disappointed to report that it has not yet managed to achieve the exit from Administration, despite the extensive efforts of the Football League, NewCo, the Administrators and their various legal advisors.The process has been extremely complicated and there has been a team of people working night and day to get the deal done. The most difficult aspect has been trying to achieve agreement with Alexandre Gaydamak after the remaining parties have agreed the deal and executed the necessary documents, namely the new owners, the Administrators, the Football League and the creditors.Unfortunately, despite the new owners fulfilling all the requirements of the Football League and the creditors, and agreeing and signing up to the required terms of the purchase of the club, at the 11th hour the goalposts have been moved by Mr Gaydamak and this has now made the deal impossible to complete.Put simply, despite being offered full payment for the secured part of his debt in accordance with the financial plan approved by the Football League, this morning Mr Gaydamak has demanded a very significant upfront cash payment in order to allow the deal to proceed by releasing his security.All this is in spite of his lawyers going to Paris this morning specifically for the purpose of witnessing his signature to the document agreed yesterday.It is neither in the interests of the club nor its unsecured creditors for such a ransom payment to be made, particularly where the payment is being demanded by one of the authors of the club’s current circumstances.In addition, and equally importantly, all of the business plans submitted and approved by the Football League would be fundamentally damaged by such a requirement placed on the club by Mr Gaydamak.We will provide further information as soon as possible.However, it appears likely that the club will now be closed down and liquidated by the Administrators as they are unable to support the continued trading of the club.We would like to thank the Football League in particular for their support and assistance through this difficult process.All other parties had managed to reach agreement.This has now been undermined by the self-interested actions of one individual. Mr Gaydamak has provided confirmation several times that terms were agreed. However, he has continually changed his position in an attempt to exploit the goodwill of the other parties to the transaction.By now doing this he has shown complete disregard for the supporters, the club and the City of Portsmouth.His earlier comments when the club went into Administration about doing everything possible to save the club’s future do not appear to reflect his current actions.Source: Official Portsmouth FC Website.Someone just save them. Its probably pocket money to Roman to solve it. Such a shame. Quote Link to comment Share on other sites More sharing options...
Madmax 9,219 Posted October 22, 2010 Share Posted October 22, 2010 This is so unfair to the fans who've spent their lives supporting this club. Just shows you how careful one has to be while deciding the club's ownership. Quote Link to comment Share on other sites More sharing options...
LDN Blue 7,903 Posted October 22, 2010 Share Posted October 22, 2010 This is one of the darkest days in all of football. Portsmouth should be used as an example for all clubs for what really could go wrong, something has to give now! Quote Link to comment Share on other sites More sharing options...
Duppy Conqueror 1,537 Posted October 22, 2010 Share Posted October 22, 2010 that Gaydamak is evil..he`s milked the cow dry and now she`s dying..he`s just watching it die knowing that he can save it if he gave a flying fuck about it...a disgrace.. Quote Link to comment Share on other sites More sharing options...
DavidEU 2,023 Posted October 22, 2010 Author Share Posted October 22, 2010 To be fair, a lot of this is Portsmouth's fault and they only have themselves to blame. But like has been said, its always a shame to see a club go, especially one as unique as Portsmouth. Why they ever spent all the money they did a few years ago is beyond me and everyone though. Quote Link to comment Share on other sites More sharing options...
St Abramovich 175 Posted October 22, 2010 Share Posted October 22, 2010 Felt gutted when I read this, I've never even liked Portsmouth, just sad to see a club just stop existing.Really sorry for Portsmouth fans. We could easily be in the same situation. Quote Link to comment Share on other sites More sharing options...
Laylabelle 9,535 Posted October 22, 2010 Share Posted October 22, 2010 Like someone said on another forum for a fan as well,one day having a club the next not...hopfully someone jump in.Cant see it thoughSad day if so.Mean yeh may be their fault and all but still for this to happen... Quote Link to comment Share on other sites More sharing options...
zolayes 14,489 Posted October 22, 2010 Share Posted October 22, 2010 This is so unfair to the fans who've spent their lives supporting this club. Just shows you how careful one has to be while deciding the club's ownership.the fans have no say in the buying and selling oh their club ..thats the problem ... Quote Link to comment Share on other sites More sharing options...
Laylabelle 9,535 Posted October 23, 2010 Share Posted October 23, 2010 Looks safe for the moment.... Nearly happened to Chels in the 70s,gana build flats where the Bridge is then Ken Bates came.Like my mum was saying yesterday if had happened god knows who she'd be supporting now if anyone.Be hard to just change your team espically after following them for so many years Quote Link to comment Share on other sites More sharing options...
True_Blue 469 Posted October 23, 2010 Share Posted October 23, 2010 I have no connection with Portsmouth but i can see how much their club means to them and with how much passion they follow it,i think they would be crushed i know i would be! Since your club cant be replaced with just another. Quote Link to comment Share on other sites More sharing options...
kwylino 329 Posted October 23, 2010 Share Posted October 23, 2010 Im sure the fans would do what chesters fans did and make something likeFc pompey Portsmouth 2010 cf Or something like thatShame for the fans They will have to have a 2nd club or something now Quote Link to comment Share on other sites More sharing options...
Steve 10,227 Posted October 23, 2010 Share Posted October 23, 2010 This is really sad. Portsmouth are my second team as i have family around the area. My Grandad followed them and the Chels. Will be a very sad day for football if this happens. Quote Link to comment Share on other sites More sharing options...
kwylino 329 Posted October 23, 2010 Share Posted October 23, 2010 And its sad sky sports cares more About money hogging rooneyI would be saddened if portsmouth went down All that history just going down the drain thanks to that gaydamak person I wouldnt be suprised if someone petrol bombed his house if i were pompey i certainly would Quote Link to comment Share on other sites More sharing options...
Badboy 1,526 Posted October 23, 2010 Share Posted October 23, 2010 Who is that portsmouth fan with all the ugly tattoos going to support ? Quote Link to comment Share on other sites More sharing options...
kwylino 329 Posted October 23, 2010 Share Posted October 23, 2010 Apparently now they arent going to die Quote Link to comment Share on other sites More sharing options...
Laylabelle 9,535 Posted October 24, 2010 Share Posted October 24, 2010 They're out of admistation Quote Link to comment Share on other sites More sharing options...
BlueLion. 21,491 Posted October 25, 2010 Share Posted October 25, 2010 Genuinely glad for the club. They have great supporters and ever since they won the FA Cup I've willed them to do well. Quote Link to comment Share on other sites More sharing options...
Kez 2,727 Posted October 26, 2010 Share Posted October 26, 2010 My Dad lives in Portsmouth and i've got a soft spot for them. Glad to see that they are safe. Quote Link to comment Share on other sites More sharing options...
kwylino 329 Posted October 26, 2010 Share Posted October 26, 2010 After scrolling through some portsmouth forums The fans unity is heartwarming They have came through i bad bad patch And now with Chanrai They will steam on Quote Link to comment Share on other sites More sharing options...
Madmax 9,219 Posted October 27, 2010 Share Posted October 27, 2010 Hope to see them back in the Premiership next season ... terrific supporters they've got and they deserve better. Plus, we should have atleast 1 good south coast club in the EPL. Quote Link to comment Share on other sites More sharing options...
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