They Won't Go Under

Put it this way, I will be very surprised if they do.

They should have done last time. No question. I chatted to a very senior accountant pal then about them, he was aware of some of the bigger issues with the club (although not involved) and said he just couldn't see any logical reason at all why they should stay afloat when businesses with, shall we say, "better" debt (ie) were not in quite so much s**t as Pompey were, got wound up regardless and immediately.

And thats the thing-then, and now, they've been permitted to struggle on-as have Rangers.

Other businesses in a similar position would have long gone already-administration-liquidation.

With football it seems that, no matter how bad the debt, they are able to keep trading. Leeds were another example-they had ran up debts that no-one else would have come anywhere near to getting as the plug would have been pulled long before that stage.

So it is with Portsmouth and Rangers. And they will, somehow, get their extensions, second chances and reasons to keep trading-Pompey were last time, but, as we see now, it meant nothing and was nothing, just a continuation of their financial status quo under a new owner-papering cracks.

I can't see a big football club going under, for whatever reasons, it won't happen-to prevent the tip of the iceberg situation and expose the real rot in the game? Maybe. But I bet they stagger on until the Summer and somehow, something will be done...

Posted By: Martin Peters, Mar 2, 08:03:09