Posts Tagged administration
Trade of the season (so far)
Posted by Peter Webb in Bet Angel on October 25th, 2010
I mentioned in another post about the Portsmouth saga and it turns out I was correct in my interpretation. This turned out to be the trade of the season so far. Portsmouth relegation markets have been a nice earner in the last couple of years!! I’ll have to wait till May to get paid out but I can now green out and look for the next opportunity.
Pompey likely to close down
Posted by Peter Webb in Bet Angel on October 23rd, 2010
Portsmouth say they are likely to fold after talks with former owner and key creditor Sacha Gaydamak broke down. Full story here: -
http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/9120108.stm
Odds on Betfair for relegation have plunged from 11′s to heavy odds on. In settlement terms Betfair count going out of business as relegation, hence the change in odds. I suspect this could be a wake up call from the administrator to the only creditor holding up the process. Lets wait and see….
Odds are going down, are Portsmouth as well?
Liverpool could face points deduction
Posted by Peter Webb in Bet Angel on October 9th, 2010
Liverpool need to agree a sale by the 15th October or else they could be put into administration. This is significant if you remember my post last year about a similar situation with premiership club Portsmouth. Full story here: -
http://news.bbc.co.uk/sport1/hi/football/teams/l/liverpool/9074311.stm
For sale : One club, many wrangling owners
Portsmouth go into administration
Posted by Peter Webb in Bet Angel on February 26th, 2010
Further to my post some time ago Portsmouth officially went into administration this afternoon and almost certain relegation. Hopefully you jumped on board following my post a little while ago. One of the lowest risk trades of the season!
While it’s not pleasant to see clubs get into trouble, the economics of football are astonishing. It’s quite amazing to see how poor the economics of most clubs are, but even the top teams are not in a very good shape. LBO’s put a huge burden on clubs and drain resources as people borrow money from the future to pay for success today. The problem is that while money does, generally, buy success. In an effort to keep up new teams join in card game and up the ante. This makes the return on investment and general economics decline overall. It’s not a viable path long term.
I remember watching my local team when I was young and the feeling then was that, on their day, your team could beat anybody. The feeling now is if your team isn’t £10bn in debt then they have no hope of challenging for any honours. I also would see local players on the pitch that had come through the youth system, this fuelled the dream that maybe one day I could be out there as well. I don’t believe that is remotely realistic nowadays. I think both points have taken the soul out of football as a grass roots level, that’s not the best way to encourage future generations.
Will it change? I doubt it!