Faz

The land must be worth more than £365k?

In previous cases football creditor have voted intnhe CVA and recieved their percentage as unsecured creditors. All proper because, distasteful as it may be, the new owners have separately and formt heir own funds, settled the balance inordser to obtain their Golden Share. In this case the TV monies were, IIRC, shown in the CVA document as income due to the Club, and then paid away to football creditors. This is pr9obably the first time a club in receipt of huge PL payment shas gone into Administration. I simply cannot see how the football creditors can be prefered in this way, and if they are, they they are effectively secured. Either way the CVA goes back to the drawing board IMO. If they stay in Admin, do the PL still pay them the money, or do they appropriate it to settle football debts?

It's interesting that HMRC voted against the crystal palace cva, but have not appealed it. That surely shows the two circumstances are different. The football creditors rule still applies to palace, but the football creditors will be paid from third party monies to get the Golden Share. Goodbye Pompey.

The image rights thing is not just about Pompey, although there are strong grounds for seeing this as tax evasion. Even if they don't win, the ground ruules will be set. The issue of footbal creditors effectively being secured - in this case by revues due to the club, rather than third party funds, is entirely relevent. Surely any right thinking court would claim it to be inequitable for those who will receive 100% to be able to vote in the CVA. Even if Pompey win, I can see the HMRC taking it higher.

The question is whether it is their money until the PL hand it over. Although I think AAs CVA shows the funds coming and being paid out to football creditors IIRC, which would be righ royal **** up on his part.

Was this an on-line survey? I suspect 70% of "normal" saints fans don't use the internet s their first port of call.

Telfer

http://www.dailymail.co.uk/Princessannetoplesswestonshore

Is that you Lifelongcherrypipskate?

That's £415k GROSS. Deduct agents fees, bonuses etc - if they see more than £250k of that I'll be amazed. And probably still have to contribute to Diops salary. There's no way a Greek club can match his Pompey wages.

Don't forget we have Alex Oxbow-Lake coming through. Blooded last year, andperhaps one to make an impression from the bench this. If that's the case, we don't need both Papa and Antonio, and if we sign another paceman, perhaps neither. It's a tough call between having a highly competitive squad, and creating room for the youngsters to come through.

I guess that means no Michael Owen then

Loose lips sink ships - and football clubs.

Pretty arrogant Stuey. If only life was so simple. Just because it feels to me like you've struck up a vendetta against NC, does not mean I want success at any cost, nor does it mean that you are the personification of the true football fan.

[quote=dave benson phillips;771725 originally posted by faz so let me get this straight. * the names of the suites have not changed. If you buy a ticket it won't say "executive club @ the matt le tissier suite", but instead will say "executive club", and presumably a clue on the ticket as to what suite to turn up at. No, it was known as mick channon family club, terry paine carvery, matt le tissier executive club etc etc like i have said a million times, it's not a big issue on it's own, but add it to all the other stuff and cortese's reluctance to recognise history is worrying.your're right, its a non-issue * the instalment plan was insufficiently used to make it cost effective. Where did you get that one from? Seriously... Nobody knows how many people used them ( i suspect it's more than the 10% that people have said. Even if it was, are you honestly telling me that it's not worth 1300 season ticket sales ( about £500,000 ) ? Not cost effective? Really? why, on good god's earth would nc cut off his nose to spite his face? * half-season tickets are insufficiently used to warrent the cost of marketing and administration we sold 2000 of them last season, i hope to god you don't run your own business if you think printing and posting out a little booklet is not worth £350,000see answer above, i think i'll stck with nc's business acumen rather than stueynomics * the car parking, previously cross-subsidised by other matchday income, is now being charged at full cost can you show me a link and figures as to how it was cross-subsidised?no where did you get this information from? t'internet - posted on thatthread, can't be arsed to look it upcan i see it? Or as per all you other points, are you talking rubbish.of course i'm talking rubbish. My post is based on supposition, rumour, inuendo and a loose understanding of what facts are in the public domain. Sound familiar? we are in danger of losing our club]now i have heard some rubbish spouted by people trying to stick up for cortese in my time, but your post takes the biscuit fella! hth

So let me get this straight. * The names of the Suites have not changed. If you buy a ticket it won't say "Executive Club @ The Matt Le Tissier Suite", but instead will say "Executive Club", and presumably a clue on the ticket as to what Suite to turn up at. * The instalment plan was insufficiently used to make it cost effective. * Half-season tickets are insufficiently used to warrent the cost of marketing and administration * The car parking, previously cross-subsidised by other matchday income, is now being charged at full cost We are in danger of losing our club

At the risk of appearing thick, and not wanting to ***** anyone's pomposity here: 1. Have the names of the rooms actually been changed, or is it merely the names of the Clubs which use them on Match Days? I ask because I recently atttended an event in the Mick Channon Suite 2. Did the change of Club/Room name happen before or after NC's arrival?

If he's half as good as the brother, he'll do for us.

Cup in storm a tea

They stay on your licence for 4 years, but only 3 years count for totting up purposes.

* They spent money they didn't have. * They went into Administration, the Administrator being appointed and funded by Chinnery, who has a vested interest * The Administrator found hitherto undisclosed debts of £68m on top of the £70m declared by Vantis in the SoA - easily missed * HMRC have enough voting rights to screw the CVA but AA reduces the HMRC element without explanation * HMRC have until 15th July to go to court and contest the CVA * Despite all the question marks, AA appoints a CEO and new manager, and believes they should be allowed to re-sign to current England goallie (presumably he'll be happy to accept a £40k pw drop in wages) * The FL are starting to flex their muscles - transfer embargo etc etc. * The fun is only just begining * The deluded Few believe they've done nothing wrong - it's all very unfair.

If you're not interested in our view, why come on here?

Who administrates this?

There is no guarantee either that HMRC would accept the Griffin proposal. The most likely outcome seems to be that they stay in Admin. Transfer embargo. Chinnery expects to be repaid his loan to AA from player sales, football debts are settled by the Y1 parachute payment. Assuming they raise around £10m from player sales this leaves AA about £2m in hand, plus football income for next season to run the club. Unlikely to be enough so then Chinnery has to decide whether he funds the club through unitl the next parachute payment. Even then still no CVA so assuming their kids get them relegated, and they survive, 2011/12 sees them in L1 with a massive points penalty. And that's before any penalty for irregularities by Storrie, Harry and MM. Its all so unfair

The Company isn't running up debt. The Administration is being funded by a loan from Chinnery, which he will get back from player sales, assuming they raise between £6m-£10m.