2008 Cup Final Meltdown - Pompey hit admin while Cardiff face more winding up orders

On the day that Portsmouth F.C. faced the inevitable and became the first Premiership club to enter administration, their 2008 F.A. Cup Final opponents Cardiff City had another winding up order confirmed in the media.

This week's E.G.M. and agreed land sale (there wasn't really any option for shareholders) may have paved the way to paying off the taxman for the time being and perhaps help the club get to the end of the season but their future remains shrouded in doubt.

Rumours hit the messageboards over a week ago - and were covered in this blog too - that a further winding up order was out there but with their usual expediency(!), South Wales Echo today confirmed the club face another major problem in the form of a £750,000+ winding up order from Newport family firm Shine in respect of the fit out of catering equipment in the new stadium.

Their petition was placed in the county court in Cardiff last December against Cardiff City Stadium Limited, a sister company of the football club for whom it carried out the work on the stadium and was two days before HMRC placed tjheir £2.7M winding up order for unpaid taxes against Cardiff City Holdings Ltd.

The directors of the stadium company are the club’s chairman and chief executive Peter Ridsdale and PMG in the guise of non-execs Paul Guy and Mike Hall, both major shareholders of the football club.

Perhaps the most extraordinary aspect was this was taking place at the exact time that the club were fully promoting its so-called Golden Ticket promising all advance season tickets bought for 2010/11 would be fully invested in new player purchases which collapsed leaving supporters understandably bitter and angry, it does feel like deception but has certainly broken down all trust in the hierarchy of the club.

It was at the time the club was still promoting its Golden Ticket offer, asking fans to buy season tickets in advance to help the club fund its push for the Premiership.

Shine's winding up order is adjourned until April 26 with the club unofficially cliaming half the debt has been cleared but Shine remain tight-lipped and there is no official confirmation.

A club source told the Echo that Shine had been happy to adjourn the case because the debt was being paid off and that half the debt had already been paid. Alan Flitcroft mentioned at Wednesday's E.G.M. that he was "hopeful" of agreeing a deal with Shine before the next April court date.

Rumours persist that a whole host of contractors and business have unpaid bills in respect of the stadium fit-out and that two or more further winding up orders are in the pipeline although this is yet to be verified.

I personally remain worried for the future of the club and dubious about the Board's ability to resolve the massive problems. It does feel like the club are running a log distance hurdle race with the hurdles getting higher and closer ... falling over one and flat on their faces could even be a matter of when rather than if it happens.

Footnote - Another CCFC, Chester City Football Club, were expelled from the Conference today and are set to shut down any day. You do feel football's problems are out of control and is hitting all clubs from the top to the bottom.