Chin Strain

I'm pretty sure there was a piece on this a while back that said it wouldn't be enforceable - I think it was in the Mail article in mid Jan that had the aerial shot of FP and surrounding land, showing who owned what.

The £1.8m you're quoting has been picked up on as the wage bill as that was what they were short in December. Storrie himself has said that they had a wage bill at it's peak of £55m, and have cut that by a third. Even taking the known high earners (james £250k per month, Storrie £100k etc), and you can see £1.8m is conservative. Add in that Pompey need £4.5m this month to keep afloat (excluding the HMRC debt), and the recent press articles and it's clear it's not £1.8m. Contracts are up end of June, so that's 5 paydays. Even at £1.8m that's £9m. So, as reported in todays Observer, they need to find £4.3m a month for wages for the next 5 months. Ouch. Plus, the £33m parachute payments may be fact, but the court papers seem to have shown a total debt to HMRC of £18m. SG has got the surrounding land, but I would expect it to be worth considerably more with a football ground not being there. You're making huge assumptions on what SG will and won't accept. Same with BC. In the end, if any deal is done you can bet that there will be ties. The numbers simply don't add up based on a £33m parachute payment and £10m for player sales.

So, we're looking for someone who needs to launder some money, or is engaged in some other dodgy pastime. As there is presumably no honest reason why someone would want to buy the club with £70m debts and haemorrhaging around £4m per month, the PL will have to crawl all over any new owner. Look forward to the FAPPT results.

My understanding is that the HMRC debt was nearer £18m, per the report yesterday in one of the broadsheets. Chanrai has taken the ground in lieu of the £10m.The £1m p.a. for 15 yrs is to repay him for the additional £7m. Running costs to the end of the season are running at c. £3 - £4.5m per month.5 paydays until contracts are up in March. Let's be conservative and call it £15m. So, without going into the other debts (£2m for Sol, payments due to Lens, Udinese, Watford, Chelsea, Spurs...estimated at £10m, as well as agents due £4.5m etc, etc) and we're looking at outgoings of £43m (including your £10m for SG) plus all the other payments due. Income wise, it's never as simple as flog a player for £10m, get £10m. They need to pay the player off, pay agents etc. I wouldn't say £10m was conservative - you're only going to get money for Boateng and Belhadj. The rest are going to be frees and a couple of hundred k max. Whichever way you look at it, the £25m of parachute payments is simply not going to cut it. I'm not convinced SG will be that easy to buy off. He's got the land around the ground, and BC (property developer) has been linked strongly with the family. That's an awful lot of real estate for them to develop.

I'm just waiting for a really dodgy bloke to come riding to the rescue....and wait to see how all the Pompey fans cry 'FAPPT'. They seem to have been mistaking FAPP as meaning someone who's loaded...rather than someone who's honest. I would laugh for a week if a billionaire came in for them.....and the PL booted him out due to him failing the FAPPT.

Which will get wiped out by wages between now and June. I also suspect they've go these tied up as security to Gaydamak or Chanrai

Let me make a suggestion (and some on here will think this ridiculous)....could it be that Storrie is lying? I know, it sounds outrageous, but you never know....

But even if they do buy for an administrator, they're still looking at £4.3m a month until the next window opens, just to keep those players. HMRC won't allow further debts to be built up, and they won't care who owns the club - the issue will remain unless someone has massive amounts of money to 'invest'.

:smt044:smt044:smt043:smt043:smt040:smt040:smt039:smt039:lol::lol:

Don't worry about it. There will be one hell of a wake up call when HMRC wind them up on 1 March. Even then I'm sure they'll all be turning up to the home game, and will wonder why there's a dirty great big padlock on the gate and a handful of red and white Liebherr demolition cranes on the pitch.

Mine haven't turned up either - ordered Tuesday online. WIll be chasing tomorrow...

You're right...I meant £200. My bad:shock:

So, the club owes a minimum of £60m at the moment, has to find c. £15m to fund wages between now and the end of June, has assets worth approx £20 (max) if you include the land the ground sits on, and your income is about to suffer a huge drop. Chuck in that you need to redevelop the ground, buy a training ground and rebuild the team from scratch. Clearly that makes sense on so many financial levels. If it was any other business you would be asking serious questions about the mentality of someone trying to buy the club. Alternatively you would wonder what the motives of that person were. Maybe you'd not be so keen on the FAPPT being beefed up if it meant keeping your club alive....

That is exactly what they should have been doing since January, and exactly why I feel they cheated last weekend.

The moment Chanrai said 'it's a PL club, of course there's a buyer for it', you just knew nobody had informed him of the concept of relegation. I spent too many hours trying to work out why he would lend Pompey money....and then he said this, and it all fell into place. Basically he's been a bit thick.

Sh.it......can you read my mind? My Mum and Dad don't live in Gosport though

That can't be right....STorrie said they had £4.7m sitting in a Bank Account just waiting to pay off the PAYE, but HMRC didn't want that money.....:^o

We only spent around £1.5 - £2m....half of what you 'spent' on Dinadane in August when you had no money!

I'm sure if Pompey had approached the FA / FIFA to allow Boateng to move, despite the 2 club rule, they would have allowed it. He would certainly have had takers. Belhadj would also have had takers. I really don't think they tried hard enough on the basis that your only chance of not going into liquidation was to stay up. Now that's unlikely anyway, they're interested in offloading. Admin is just delayed liquidation, so they've gambled everything on players staying and it's failed

No chance IMHO. Storrie himself said the wage bill was £55m p.a., and they'd chopped a third off that. Therefore I reckon you're looking at £3m per month. I suspect the £1.8m has been grabbed hold of as being '[the wage bill' as that was how much you were short in December. Or, maybe the wage bill is £3m, and the am ount paid to players after you've deducted PAYE, NI etc (oh, and kept it for yourselves!) is £1.8m. Just adding up a few players contracts and the amount seems too low. If you assume £250k per month for James, £100k per month for the likes of Herraidersson, Diop, Storrie etc, plus whatever Utaka earns, it's going to be way higher than £1.8m.

Laughable. Administration is 'oh so easy'. I don't think so. Find a buyer in a set time or assets are stripped and club liquidated. I guess they may just even have had a chance of survival had they reigned in the spending then, and actually tried to dig themselves out of the pooh, but not now. The arrogance of now asking to sell players when they should have flogged them all in January is unbelievable. So, now relegation is all but nailed on, and they're into the quarters of the cup, lets see if we can bend the rules and sell players outside of the window. ****s.

I can't see the court allowing that. Bear in mind that it's pay day on 26th Feb, court date 1 March. That should tell them all they need to know. Unless Vantis have made up the figures I simply can't see how they can produce anything other than an SOA that states they are insolvent.

I'm not quite sure why the BSP is being seen as the starting point for the new club. The arguments about size etc are a bit irrelevant, as it's a new club, playing at a different ground (FP would simply not be sustainable at a non league level.....unless, I suppose, you adopt Storrie's approach to running a business. Just because there's a big catchment area, doesn't mean they should get dropped in at BSP level.

Interesting...and that was only in the summer. My bet is Dindane and probably Boateng.....maybe O'Hara as he was trying to get him in January

Why, are you going to suddenly make it a working class mans games again? Even in the BSP football just aint that cheap.