BigShadow

Remember back in court...Chinny offered £500k towards admin costs if AA/UHY were appointed....so this £500k he is now offering to creditors is not costing him any more than he was prepared to give AA. Not to mention he will get a chunk of that back via CSI. Assuming he can fund the FCR obligations from the parachute payments, seems like a nice piece of business. AND...the sweetener in the CVA - an extra £500k if they reach the premier league - so you reach the promised land with £60m p.a. riches and how much do you offer the creditors you stole £140m from?? HA, insult to injury. The small creditors/charities promise - hope that has some strict wording attached to the offer i.e. will be paid by XX/XX/XX. Also didn't Lumpitt say many months ago, that one of the problems with making this offer was that creditors owed more than £2,500 were reducing their claims in order to qualify for the payment in full pledge. So under this CVA - anyone owed less than £125k would be better served reducing their claim to £2,500. As for the PST, what have they been doing? Wasn't there some kind of deadline for getting pledges in about 10 days ago? Now they need to meet with TB next week to see if they can concoct a bid in 7 days???? Will TB be duty bound to delay the creditors CVA vote to allow proper consideration of the Trust bid? Isn't time (and money) running out? And the elephant in the room - need to reach agreements with certain players - any detail on that? Seems very vague - scope of reductions? how close are they to achieving that? And WTF are the FL doing? I assume they must have given Birch a date that this must all be sorted by? Why can't they share that information so that the few know (and more importantly, we know) what the critical date is? Any reason it should be a secret? So many questions.....pretty pointless I know.....I guess I honestly thought the money would have dried up by now and something would have happened. Now it looks like dragging on well into July.

Baker Tilly have to act on the instructions of the creditors they represent - HMRC was about £7.5m of the £16.5, so if the rest of the CVA1 mob accept then it will still get through. Anyone know if Baker Tilly have a block vote or if the creditors of CVA1 will vote individually?

When the details of the CVA proposal become known, and we all finish laughing....the reality is it stands a good chance of getting approved by the creditors. It will be Xp in the £ on the never never or liquidation and will include verbiage along the lines of 'In the event of liquidation the administrators do not envisage any funds being available for distribution to unsecured creditors.' So.... 1. HMRC will vote against. 2. AA and CSI's £10m will presumably vote in favour. 3. Most other creditors have nothing to gain (other than personal satisfaction) by voting against. 4. Most local businesses will not want to be seen voting against and bring the club down. 5. Many of the smaller creditors simply do not bother voting on these CVA proposals when the sums are so small. So I am expecting the CVA to get accepted - which will leave the FL with an almighty headache about what to do about failed CVA1. I fully expect them to do nothing and claim the original CVA was renegotiated with the approval of creditors so technically it has not failed so no points penalty. Therefore, it all rests on the FCR and TBH/DL/Kanu and the rest of the higher earners. It has seemed for some time now that PFC's future seems to be dependent on reaching a deal with them. More public floggings to come.......

Love this line.......how unreasonable of them not to walk away for free. WTF does Birch expect.

As did we. A fine tune.

Well he's French and he won an election on the basis he was going to stand firm in the face of German bullying..........should be interesting at least.

Where did you live? North Carolina? I am pretty sure the concerns you mention would be much less of an issue in the Pacific NW.

Made the move a few years ago, albeit to the East Coast - no regrets, and I was one of those little Englanders who was never going to move abroad. When the chance came, it just seemed right and I'm glad I took the plunge. The most stressful part was getting the green card and dealing with the US Embassy before coming over - nothing major - just hassle and a bit of uncertainty for a few months. Most things you might miss from the UK you can get here one way or another - you might have to pay 3x the UK cost, but you can get it. FFS - I can stream Radio Solent into my car if I really want to (although Matchday restrictions don't help). Miss being at St Marys - but have been able to watch a lot of live Saints games online/TV this year and next year should be better. The Seattle Sounders are one of the better supported MLS teams from what I gather. Spent a week in Seattle last year and loved it - but we had decent weather - and by all accounts it rains a helluva lot. Would echo what St George said above about embracing American Culture - get into baseball, Ice Hockey, Basketball whatever - it will help to fill the void of seeing Saints live. I will probably always consider the UK 'home' though. There was a time I felt the American positivity and national pride was nauseating - but actually, it is quite genuine and for the most part I quite enjoy the fact they hold the flag and national anthem in such high esteem. One thing I haven't let go of is the BBC. For the most part, Americans are very inwardly focussed and coverage of world events is sparse on mainstream channels. The BBC is awesome for that. What I really miss - British country pubs and people that understand that relegation and promotion really is a big f**king deal.

Admissions like this provide heartwarming evidence of the [Money]penny finally dropping amongst the few and the collective realisation that the Trust's proposal is little more than a [fat filled] pipe dream.. With justice continuing to be served, May 2012 has all the makings of a cracking month.. Another post by OldRedEye also contained this little gem.... So someone heavily involved with the trust seems to be saying GAME OVER!! The very people urging the blue few to pledge £1,000's, are saying the club is "too badly damaged to save" Who are we to argue?

No doubt they will find a way to attach a value to that and include that as an asset on a future statement of financial affairs.

The pendulum took a massive swing to the West and then broke...there ain't no going back this time.

I concur with the general sentiment displayed above - no thanks.

Bloody press banging on about Redknapp in Roy's press conference. They keep asking about HR despite being told several times that other managers are not up for discussion.

The way Crawford played last season, it is not much of a loss at all. He has yet to deliver for the Red Sox.....so if and when he finally does, it will be something of a bonus. Grand Slam aside....Youk has not seemed right this year. On the plus side, Ortiz is in the groove much earlier than usual and players like Aviles, Ross and McDonald are providing a surprising boost to the offence. Bobby V seems to be finally getting a rapport with the players so if the pitching rotation can find some consistency then this season might not turn out so bad after all.

Well Done Saints - Thanks Markus, Nicola, Nigel and all at SFC. Champagne at 9am in the morning - this could be messy. :D:D

This could be fun......Chainrai rides back into town with the sole objective of harvesting as much of the parachute payments as possible. No investment in team or infrastructure. The Phew become increasingly disillusioned and home gates drop below 8,000. League Two beckons and this thread gets the chance to motor on to 100,000 posts.

I see the standard of maths has not improved down the road.....or is it just the crap standard of reporting...From The News..... So from this pool of £33m - each championship club, all 24 of them - gets £2.3m, which equals £55.2m. Hmmmmm.

Meltdown at Fenway - blowing a 9-0 lead. Bobby V getting booed big time. All does not appear well in Red Sox Nation.

Yep - this at last is Justice for Admin of 2010. Justice for the current mess yet to be served.

I think it is more than that - if his mindset is right then having Damon around will definitely be good for some of the younger guys - but they also genuinely hope Damon can be productive offensively. It is a calculated risk - from what I have read the Indians have only committed about $1.5m to this deal with add-ons depending on appearances etc. Considering Damon was probably commanding closer to $10m a year a few years back - and got $5m last year with the Rays - it seems like a decent bit of business by the Indians. Bit of a borefest in yesterday's 1-0 loss, but Bard looked good as a starter. Have to say Bobby V screwed up leaving him in too long.

Looks like I was a bit previous with my Pompey Down call - two goals in injury time FFS. Anyway - enjoyable afternoon at Fenway despite a shaky start from Buchholz. It was raining Home Runs toward the end, and the Rays bullpen certainly needs some work. As for Damon - who cares - if someone wants to give him another payday then good luck to him. Doubt he'll make much of an impact though

Well, I've been sort of 'into' the game for just over three years and I still ask 'stupid' questions from time to time. Shame it doesn't look like that good news is coming out of Upton Park - but hey ho, Pompey are down. Every cloud and all that...

Yep - took the edge off my pain at the Reading defeat as I switched over and caught the Red Sox 8 runs in the 8th inning. I'm off to Fenway Park for tomorrow's game - hope Bucholz can find some form - and I hope even more that I have a spring in my step after some good news from Upton Park.

Unless they can offload them to someone who will match their wages then it is entirely possible Norris and Halford will be playing for them in L1. Of course, this assumes they survive to make it to L1 which seems odds against at the moment.