Portsmouth FC dodged a bullet in the High Court this week; they have stumbled from crisis to crisis and are now on their fourth owner so far this season. Up until now they have escaped administration, as the majority of their creditors are football related.
However it has emerged that they owe £11.5m to none other than the Taxman. HMRC are not known for their compassion when it comes to money owed and pleas of, consider the fans and what about the community will fall on deaf ears. Southend United and Cardiff City have also had their cases adjourned this week, albeit with much smaller debts. Crystal Palace have already gone into administration and have received a 10 point deduction. There are murmurings that HRMC are tiring of football clubs escaping their creditors, especially as they are one of the main losers, and that they are seeking to make an example of one.
Administration for Portsmouth may start to look attractive to them now, as the alternative is a winding up order. If this were to happen then the Premier League would have a major headache. All of the fixtures they have played so far this season may be declared null and void. Will the PL sit back and allow this to happen? They promote their product around the world and rake in vast amounts of revenue; if one of their teams were to fold it would hardly be good for business.
The two David’s, Gold and Sullivan are talking of making pay cuts at West Ham United. Manchester United and Liverpool are struggling under debts that make Portsmouth’s look like a slate at the local corner shop.
All the football haters out their must be laughing their socks off.