Tag Archives: extinction

Charles Sale: Portsmouth could face extinction after court date

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Portsmouth's court date with destiny could end in extinction

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UPDATED:

23:16 GMT, 7 December 2012

The most important date in the history of Portsmouth Football Club will be taking place in London's High Court on Thursday.

The future of the club could now depend on a Chancery Division judge agreeing with the Pompey Supporters' Trust – the preferred bidder – over their estimation of a fair market value for their Fratton Park ground.

Otherwise, administrator Trevor Birch believes he will have no other option than to liquidate Portsmouth, FA Cup winners four years ago, before the end of the season.

Court date with destiny: Portsmouth could face extinction

Court date with destiny: Portsmouth could face extinction

Birch can sell Pompey to the PST – even though former owner Balram Chainrai still has a mortgage on the stadium – provided there is a court ruling over the true value of the ramshackle Fratton Park.

The rival factions are millions apart in their valuations, however.

The trust price the ground at 2.75million but Chainrai's Portpin company wants to recoup the 18m allegedly owed to them – 12m of which is secured against the stadium.

Birch, an experienced football operator, has spent nine months looking for other buyers but no-one is prepared to pay more than the PST offer.

So if the judge is not convinced by the fans and their legal team during the scheduled two-day hearing, Portsmouth face extinction.

Chainrai is the only other possible option but Pompey do not believe the Football League would sanction him taking control because of unanswered questions from his previous regime.

Hart, Carroll and Bent prepare for swoosh

Nike's official disposal of their Umbro brand to the Iconix Group this week is expected to see Umbro's few remaining marquee endorsed players – Joe Hart, Andy Carroll and Darren Bent – have their contracts switched for them to start wearing the swoosh boots.

Talks are taking place with their agents. John Terry and Michael Owen, two long-term Umbro clients, are no longer under contract.

Nike, who will be launching their first England kit well in advance of the team wearing it for the first time against the Republic of Ireland in May, have kept on Umbro's Duncan Thomson to manage their relationship with the FA.

Swoosh! Joe Hart is likely to have his Umbro contract switched over to Nike

Swoosh! Joe Hart is likely to have his Umbro contract switched over to Nike

Easy for Jim to refuse

Quality all-round TV sports presenter Jim Rosenthal is in as much demand as ever four years on from ITV showing him the door after his 60th birthday. However, Rosenthal is no longer presenting the FA Cup draw after ITV, who produce the event, offered him a hugely reduced deal. 'It was an offer I found very easy to refuse,' said Rosenthal, who has been replaced by Mark Pougatch.

Sky protects asset Melvin

Andy Melvin, deputy head of Sky Sports, has been given a consultancy role following his retirement next year.

The move safeguards new rivals BT Sport making a move for Melvin.

There is plenty of animosity between BT and Sky following the unexpected defection of match director Grant Best from Isleworth to BT's Olympic Park headquarters.

Keith is pitch perfect

Twickenham's Keith Kent has been rewarded for his work on the permanent Desso pitch, which is looking good as new after four autumn internationals and the Varsity match in less than five weeks, with a clean sweep of three groundsman-of-the-year awards.

The immaculate surface at Twickenham is another reason the RFU wouldn't countenance the England World Cup group match against Wales in 2015 taking place at the Millennium Stadium, where the removable pitches can cut up badly.

Easy for Jim: TV broadcaster Jim Rosenthal turned down a cut-price deal for the FA Cup draw at ITV

Easy for Jim: TV broadcaster Jim Rosenthal turned down a cut-price deal for the FA Cup draw at ITV

City presence at Onuoha's mother's funeral

Quite rightly there was a presence from Manchester City, including club secretary Bernard Halford, Dennis Tueart and Jim Cassells, at the funeral of Dr Anthonia Onuoha, mother of former City defender Nedum, who now plays for QPR.

Dr Anthonia died of cancer 15 months after ex-City CEO Garry Cook mistakenly sent her an email mocking her brave fight against the disease.

The message was meant to be for Cook's City colleague Brian Marwood.

At the Match can't keep pace

Glossy business and sport publication At the Match perhaps shouldn't trumpet the 'cutting edge features' in their 'highly acclaimed' magazine when their latest edition – caught out by football's furious merry-go-round – has deposed manager Mark Hughes dominating the front cover talking about his vision for QPR.

A bit late: Mark Hughes was on the cover of At the Match magazine despite his sacking last month

A bit late: Mark Hughes was on the cover of At the Match magazine despite his sacking last month

Rangers plan return to stock exchange

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Rangers plan return to stock exchange as fallen giants look to raise 20m

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UPDATED:

07:27 GMT, 11 October 2012

Rangers are to seek admission to the Alternative Investment Market of the London Stock Exchange.

The Irn Bru Division Three club hope the move can raise up to 20million as they continue to re-order their finances following the liquidation of the 'oldco' club and the acquisition of its assets by Charles Green's consortium in the summer.

The club hope their admission to the AIM can be completed by the end of the year.

Money matters: Ally McCoist could develop his squad if Rangers raise 20m

Money matters: Ally McCoist could develop his squad if Rangers raise 20m

In a statement on Thursday morning, Rangers said the money raised would be invested in the development of the club as they aim to move through the Scottish Football League and reclaim the top-flight place they lost during this year's financial turmoil.

'The funds raised will be used for strengthening the player squad, improving and developing the club's properties and facilities, as well as providing additional working capital,' the statement said.

Green, the club's chief executive, said the listing would give fans the opportunity to be part of Rangers' rebirth.

'From the time we acquired the business and assets of Rangers FC, we indicated our intention to list the company and provide our fans with the opportunity to invest in their club. I am delighted that our plans are coming to fruition,' he said.

Shocker: Rangers were beaten by Stirling Albion last time out

Shocker: Rangers were beaten by Stirling Albion last time out

'Rangers is debt-free and a huge club with enormous support and a 140-year track record of success on the domestic and international arenas. Our aim is to return the club to its glory days whilst ensuring it is run efficiently and profitably.'

Chairman Malcolm Murray added: 'Charles has done a great job to bring the club back from the brink of extinction. We now move on to the next stage which is full recovery and growth.

'The fans' loyalty has been instrumental in getting the Club on its feet and the IPO gives them the chance to have a say on club matters.'

Laura Williamson: Goodbye and good riddance to Plucky Britannia

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Goodbye and good riddance to Plucky Britannia

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UPDATED:

22:48 GMT, 12 August 2012

After you woke up on Monday suffering a severe bout of post-Olympic blues, wondering how on earth you will cope without watching handball highlights or applauding a horse dancing to The Lion King, spare a thought for a species on the verge of extinction.

In an Olympic Games that has seemed to have just about everything, something has been missing: the Plucky Brit.

Have you seen one lately No, me neither – not since Wimbledon finished, anyway.

Plucky The likes of Nicola Adams (left) showed that Brits are better than admirable losers

Plucky The likes of Nicola Adams (left) showed that Brits are better than admirable losers

British sport, all of a sudden, is not
about getting kitted out and having a go, it's about winning – or at
least performing to your best and coming close.

When asked what prompted nine British rowing medals at London 2012 – including the first three golds for our women – Katherine Grainger's answer was simple.

'We saw that British sport could win,' she said. 'We looked at it and thought, “We want some of that”.'

This team, particularly those who have competed in rowing and cycling, are now underpinned by a belief that says making a final isn't good enough.

It's just the next step in trying to reach your potential; an opportunity to strive for the very best you can be. If that results in a personal best then you've done your job; if you win a medal, even better.

'It was about creating a cultural shift where we said coming 10th in the medals table isn't good enough,' Baroness Sue Campbell, chair – woman of UK Sport, told me earlier this year.

'And everybody said, “Really” and I said, “Absolutely. We're going to pitch for fourth”. Oh my Lord.' Oh Lord indeed.

Potential: Lawrence Okoye finished last in the discus final

Potential: Lawrence Okoye finished last in the discus final

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VIEW FULL ARCHIVE

Forget fourth. Great Britain, a country of 60 million people, have finished third in the medals table. Third!

It's 1920 all over again. We're not necessarily comfortable with all this unqualified glory. I'm not sure we can quite believe it, actually. We laugh or retreat to self deprecation because it's not a very British thing to bask in the sheer magnitude of it all.

But this isn't a red, white and blue version of Canada's horrendous 'Own the Podium' campaign at the 2010 Winter Olympics in Vancouver.

This is British sport getting savvy. The taking part still counts, of course it does, but it's now the manner in which you take part, not just putting your name on the start list.

I've been accused in some quarters of being a witch after I suggested Great Britain's field events, particularly the throwers, weren't good enough at this Olympic Games.

We had representatives in only three of the eight throwing finals in the Olympic Stadium and came last in all of them.

The three finalists – Alex Smith and Sophie Hitchon in the hammer and Lawrence Okoye in the discus – have an average age of 22.

They all have outstanding potential but none of them threw to the very best of their ability on the greatest stage of all: an Olympic final on home soil. Set against the exacting standards of this British team, that can only be viewed as a disappointment.

Of course that's a harsh judgment on three very promising athletes, but that's the nature of sport in this country now.

We're no longer there to make up the numbers, pat each other on the back and say, 'Well done'.

The Plucky Brit belongs to another era of have-a-go heroes, before British sport became a profession as opposed to a pastime. May he rest in peace.

They said what!

Gre at Britain's Lisa Dobriskey reacts after seeing Cakir Alptekin, who has served a two-year drugs ban, win gold in the 1500 metres. 'I'll probably get into trouble for saying this but I don't believe I'm competing on a level playing field,' she said. Some accused Dobriskey, who came 10th, of sour grapes, but she was asked a straight question and gave a straight answer. Good for her.

Straight talking: Lisa Dobriskey gave an admirable answer after finishing 10th in the 1,500m

Straight talking: Lisa Dobriskey gave an admirable answer after finishing 10th in the 1,500m

…And this is what I've been doing this week

Take a deep breath: covering boxing, showjumping, athletics, more athletics, BMX, hockey, more BMX, football and modern pentathlon. I'm exhausted but I've loved every second.

Thinking they really should make the Olympic BMX final a best-of-three race. It's too much of a lottery to do only one run. I felt the over-riding element of luck spoilt the credibility of what was a thrilling spectator sport at London 2012. Six hours of BMX wasn't enough, either. More next time in Rio, please!

Screaming myself hoarse in Hyde Park on Saturday cheering for Mo Farah in the 5,000m.

It was a special occasion to share with my family and thousands of other Britons watching on the big screen.

As Steve Cram said in his commentary, we're very lucky to have him.

Performance of the week

Nicola Adams's gold medal in the women's boxing. She made history as the first female to win in an event making its debut in London.

I hope she enjoyed her celebratory Nando's as much as we enjoyed watching her become an Olympic champion.

Portsmouth could become extinct on August 10 – Trevor Birch

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Pompey on the ropes as club warned they face extinction on August 10

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UPDATED:

23:29 GMT, 24 July 2012

Portsmouth administrator Trevor Birch has warned the club will go out of business on August 10 unless an agreement can be reached over the wages of their senior players.

Eight senior players were understood to be in disagreement over unpaid salaries, although Luke Varney has since joined Leeds.

Supporters group SOS Pompey handed over an open letter to the players at the club's training ground in a bid to persuade players to compromise on their wages and Birch has said former owner Balram Chainrai could pull out of a proposed deal to buy the club if more players are not moved on.

Through the wire: Portsmouth are clinging on to survival

Through the wire: Portsmouth are clinging on to survival

And Birch told ESPN Soccernet today: 'Everybody, including the players, have been served notice that the club will close down on August 10.'

Defender Tal Ben Haim and striker Kanu are among the players owed significant wages, with both players reportedly claiming around 3million in unpaid salary.

And Birch said. 'The only way the club can be saved is if the players accept compromise deals.

'The Football League are in constant touch and know the situation, the PFA are also aware of it and are doing all they can to help.

'If the new owner does not take over the liabilities and guarantee 10million to football creditors then the Football League will not transfer its share and the club will go under.

Deadline: The club come become extinct on August 10

Deadline: The club could become extinct on August 10

'To save the club we are frantically trying to negotiate with players such as Kanu and Tal (Ben) Haim. We have offered Tal (Ben) Haim a substantial compromise which he has turned down, so it is difficult to negotiate.

'Perhaps he is playing a game of bluff. Perhaps he thinks we are bluffing that the new owner will save the club and still pay him or accept his liabilities going forward.

Veteran: Kanu is owed money by Portsmouth

Veteran: Kanu is owed money by Portsmouth

'We are now reaching a critical time, time is running out. I can only hope by serving notice that the club will shut down on August 10 that this will concentrate people's minds.'

Pompey are due to face Plymouth in the Capital One Cup on August 14 before starting their npower League One campaign – for which they will face a 10-point deduction – against south coast rivals Bournemouth four days later at Fratton Park.

Professional Footballers' Association chief executive Gordon Taylor earlier described the situation as embarrassing for the game and said some players had been 'unfairly intimidated', but agreed all parties had to agree to lose out if the club was to stay in business.

'It's about everybody getting in the same room, the players, the club, the administrators, the potential new owners and deal with the situation rather than looking at it separately,' Taylor told Sky Sports News.

'If not there's no transparency as to how serious the situation is. If this club is going to survive we need everybody to have something – but not all that they are owed, otherwise everybody's just going to get nothing.'

Taylor added: 'There's been a bit of unfair intimidation on a few of the high earners. There's about eight I think that needed to go, to get settlements done and half of those have gone now.

'We've managed to get some security from the Premier League, they've been very co-operative on parachute payments, the Football League have told the owners they can't get all the money back that they put into the club originally, so they've got to take a hit.'

Bradford Bulls in administration

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Bulls on the brink as cash-strapped rugby league giants enter administration

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UPDATED:

10:17 GMT, 26 June 2012

Bradford Bulls have gone into administration and have just 10 days to avoid being liquidated.

Brendan Guilfoyle and Chris White, from insolvency firm The P&A Partnership, have been appointed joint administrators of the Super League club after it failed to find new investment to pay off crippling debts.

Guilfoyle said: 'We now have just 10 working days to save the club from liquidation because there are no funds to carry on longer.

In trouble: Bulls have just 10 days to avoid being liquidated

In trouble: Bulls have just 10 days to avoid being liquidated

'If there is anyone interested in buying the Bulls then we need to hear from them right now because this famous club is now on the brink of extinction.'

The Bulls directors filed a notice of intention to enter administration on June 13 in order to buy them more time to find investment, with HM Revenue & Customs threatening to wind up the club over unpaid tax, and the moratorium ended yesterday.

Fans rallied around earlier this year, responding to a plea from former chairman Peter Hood by raising around 500,000 in a fortnight to pay bills after the bank cut the club's overdraft facilities, but Guilfoyle revealed recently that a further 1.2million was still needed to safeguard the club's future until the end of the season.

It is understood Bradford currently owes 98,000 in PAYE tax from May and the same amount for June, plus an outstanding VAT bill of 250,000 from the sale of the Odsal lease to the RFL, while the monthly wage bill is over 200,000.

Under lock and key: Administrators have been brought in at Bradford

Under lock and key: Administrators have been brought in at Bradford

Guilfoyle, who was at Odsal to break the news of the administration to employees, added: 'The directors made every effort to try to save the club within the 14-day timescale issued by the courts but the moratorium ended yesterday without any potential buyer coming forward.'

Guilfoyle, who has been involved in the administrations of Leeds United, Luton Town, Crystal Palace and Plymouth Argyle, was brought in by the Bradford board to conduct an independent financial review following the departure of Hood and co-director Andrew Bennett.

Bradford are the third Super League club to enter administration in the last two years.

Wrexham-based Crusaders went into administration in November 2010 after struggling to pay off inherited debt and, although they were readmitted to the league a month later, they were liquidated at the end of the 2011 season.

Wakefield spent a week in the hands of an administrator on the eve of last season – and saw three players sold to pay off debts in that time – before local businessman Andrew Glover completed a successful takeover.

Both clubs started the season on minus four points as their punishment for breaching the RFL's rules on insolvency, a fate that now looks to await Bradford.

Bradford Bulls raise 300K

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Bulls raise 300K as bid to save club gathers momentum ahead of Friday deadline

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UPDATED:

16:58 GMT, 4 April 2012

Beleaguered Bradford have broken through the 300,000 barrier in their battle for survival and have received the backing of the club's supporters group.

The Bulls need to raise 1million, half by 5pm on Friday, to stave off the threat of a winding-up petition and almost certain administration and have reached another major landmark in pledges.

Bradford chief executive Ryan Duckett said: 'The 300k figure is a significant milestone for the club to reach.

Tough times: Bradford Bulls face the threat of extinction

Tough times: Bradford Bulls face the threat of extinction

'We are delighted to have got that far and pledges are continuing to come in.

'Pledges had slowed down earlier in the week but momentum has picked up again today and we urge all supporters who haven't pledged to make sure they get them in before 5pm on Friday ahead of the Leeds game.'

The Super League club also received support from BullBuilder, a supporters trust, following face-to-face talks with the Bradford board.

BullBuilder spokesman Mike Farren said: “As a result of the meeting, we are fully satisfied that the current situation has indeed arisen from the 'perfect storm' of adverse financial circumstances that the board has sought, we believe not always effectively, to explain.

'We are satisfied that, after the bank withdrew overdraft facilities, in the very short period available to it the board explored all other avenues before approaching the fans.

Empty for good Bradford's Odsal Stadium has hosted many a game

Empty for good Bradford's Odsal Stadium has hosted many a game

'Once they had concluded that only an approach to the fans could succeed in the tight time-frame, they went public as soon as they were commercially able to do so in a structured and organised manner.

'Should the club not receive the level of pledges and other support that is necessary, we are as sure as we can be that the board would have no alternative but to seek administration almost immediately.

'We remain of the view that this would be at best seriously detrimental, and at worst fatal, to top flight rugby league in Bradford.

'As a result, BullBuilder is supporting the Quest for Survival with a pledge of 2,500.

'We likewise urge those supporters who have so far been hesitant or reluctant to back the Quest for Survival to do so now, either via the pledge or other fund-raising activities.'

Hope: Bradford Bulls are closing on their first fundraising target of 500K

Hope: Bradford Bulls are closing on their first fundraising target of 500K

Bradford chairman Peter Hood said: 'We were able to outline what we have been doing in the past week to alleviate the situation and also provide them with an honest overview as to why the club is in the position it now finds itself.

'We are always delighted to meet with them. They are true supporters who have got the best interests of the club at heart.'

Meanwhile, Bradford have been dealt another injury blow ahead of the Good Friday derby against Leeds with the loss of winger Jason Crookes, who is facing a 12 week lay-off after being told he needs to undergo shoulder surgery.

Bulls football manager Stuart Duffy said: “We are desperately sorry for Jason who has been tremendous for us this season.

'It is a further blow to our squad but one which we will just have to cope with.'