buctootim Posted 20 January, 2012 Posted 20 January, 2012 I know its a different league n all but how many paydays did Hearts miss before the SPL finally had a word? Didnt Pompey pay a few wages late in their previous yet drawn out mess? TBH didnt get paid for months!!!! So payday may highlight what a mess they are in but I doubt it will cause any of them to declare they need the help of administration. No doubt they will use the wage money to pay for another signing or something daft. Just think, if they had kept the wage bill down and played the kids they could be looking at the edge of a relegation battle all season but be safe in the knowleged that there are worse teams that are almost garaunteed to go down ahead of them. Now they may end up with a 20 pointer which saves the Clot and Forrest. lol I read somewhere that the players at Salernitana (Cala's old stamping ground) hadn't been paid for two years when he arrived. Oddly they didnt get paid in the 11 days he was there either.
S-Clarke Posted 20 January, 2012 Posted 20 January, 2012 Just close them down already! They're finished as a club and will probably benift from starting again at a lower league with no baggage.
Doctoroncall Posted 20 January, 2012 Posted 20 January, 2012 Ok, so that leaves three bidders left then... But as the past has shown it doesn't really matter how many bidders there are, the quality of the interested parties have ranged from loan shark to fantasist. Will that change?
Gingeletiss Posted 20 January, 2012 Posted 20 January, 2012 The News has caught up: http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/cala_withdraws_his_bid_to_buy_pompey_1_3442323 Lol.......... Just heard that one of the early interested parties was Sir Paul McCartney, who apparently wanted to buy the club as a late divorce settlement present for his ex-wife, Heather. However, he was discreetly warned by an insider at the FL that she wouldn't pass the FL's new, two-part fit and proper person test. Apparently, she would have been all right in the first part, but when it came to the second leg it would have fallen flat on its face.
teamsaint Posted 20 January, 2012 Posted 20 January, 2012 i don't know if this worth pointing out, but if poopey had been run properly since leaving administration, they could have been financially viable, and perhaps challenging around the top end of L1.I imagine the few might have found this fairly acceptable compared to their current plight. Lumpitt has a lot to answer for ..............and him an ex FA man. Tells you a lot about the game.
holepuncture Posted 20 January, 2012 Posted 20 January, 2012 Just close them down already! They're finished as a club and will probably benift from starting again at a lower league with no baggage. This will be the only way to shake off the gun-runners, the loan shark and the russian mafia... unfortunately they will also shake off the charities, the creditors and the taxman (again FFS) Admin is an option, but Chinny will never release his security on the ground and Gaddy will never release his security on the land surrounding the ground - these are the parasites that will be around for generations unless they wind the club up and head for moneyfields, multiple administrations wont help the skates as these boys will still be lurking in the background! A look to the future now that the adventure is dead and buried Looking back on this magnificent thread, I remember reading all about Levi Kushnir annd Balram Chainrai sueing Daddy Gadymack in Israel to the tune of £17m, and we speculated that what we were begining to see at pompey was a middle eastern business dispute being played out down at Fratton Park... well guess what - its looking exactly like that after all! Chinny and Kushty won the £17m in the courts, and they are getting it back from the gun runners bit by bit, squeezing it out of the only un-freezable asset, PFC. Funnily enough, it seems the Ice Cream Doctor Sulamin al Fahim in his small-childs skate shirt and hat now seems like the most genuine, caring and well intended owner of the skates over these last phew glorious years - I never expected to think like that! What a rollercoaster this hilarious thread can be, next up; the FL meeting review, 'arry and milan stand trial, pay day and the search for a new 'investor'... PUP!
saintjay77 Posted 20 January, 2012 Posted 20 January, 2012 I read somewhere that the players at Salernitana (Cala's old stamping ground) hadn't been paid for two years when he arrived. Oddly they didnt get paid in the 11 days he was there either. yeah your right there. It doesnt look like non payment of wages will be enough to push for Admin. HMRC might be ready to take action however.
dronskisaint Posted 20 January, 2012 Posted 20 January, 2012 Respect...was going to suggest Mug, Grabbit and Run but they're the most recent owners...
stev2001 Posted 20 January, 2012 Posted 20 January, 2012 So if they do get liquidated then West Ham will lose 6 points and we lose 1. Saints handed the Championship title by the skates going bust. A little premeture but its good to dream.
benjii Posted 20 January, 2012 Posted 20 January, 2012 The Cala(mity) quotes article is in the "Pompey Past""Great Matches" section of the News website. Rory > legend!
warsash saint Posted 20 January, 2012 Posted 20 January, 2012 I am almost starting to feel sorry for them
sidthesquid Posted 20 January, 2012 Posted 20 January, 2012 So if they do get liquidated then West Ham will lose 6 points and we lose 1. Saints handed the Championship title by the skates going bust. A little premeture but its good to dream. That one had crossed my mind too
trousers Posted 20 January, 2012 Posted 20 January, 2012 The Cala(mity) quotes article is in the "Pompey Past""Great Matches" section of the News website. Rory > legend! I noticed last week that his reports were going in the 'wrong' section....just thought it might be a quirk of their website....
trousers Posted 20 January, 2012 Posted 20 January, 2012 So if they do get liquidated then West Ham will lose 6 points and we lose 1. Saints handed the Championship title by the skates going bust. A little premeture but its good to dream. Come on folks....someone on here must have a debt they can call in that will push them over the administration precipice....they don't still owe SFC any ticket revenue do they...?
saintjay77 Posted 20 January, 2012 Posted 20 January, 2012 So if they do get liquidated then West Ham will lose 6 points and we lose 1. Saints handed the Championship title by the skates going bust. A little premeture but its good to dream. booting them out seems like the best option all round but we all know its the very last option they will take and no doubt cram in several other "options" in there for good measure. Would be bloody funny though. Tied for top spot till Pompey go pop and those points hand us the Championship winners title which boosts us onto another huge stint in the top flight. Maybe even a few FA Cup's and the possible Europe trips. Even the possability of realising NC's idea of Champions league football. All within the life time of the skates who loved to laugh while they were on borrowed (or should I say Stolen) time as the top south coast team. Can just imagine the little scales on their faces as they watch order be restored.
Clapham Saint Posted 20 January, 2012 Posted 20 January, 2012 I said about "toast" 800 pages or so ago. I see no reason to change my mind.
Gemmel Posted 20 January, 2012 Posted 20 January, 2012 I said about "toast" 800 pages or so ago. I see no reason to change my mind. Chinny will keep them going until he finds another cara... or just sell the squad, but that window shuts in 10 days
EastleighSoulBoy Posted 20 January, 2012 Posted 20 January, 2012 Is it on ebay? Oh! It's greyed out on my PC and the only option is the buy it now one.
pedg Posted 20 January, 2012 Posted 20 January, 2012 Chinny will keep them going until he finds another cara... or just sell the squad, but that window shuts in 10 days The question is at what point does the sum of the parts become more valuable than the whole. He may keep them going but you can bet he will want it back. At what point does he think he might get more money from the assets on liquidation that from selling them as a running club?
Bearsy Posted 20 January, 2012 Posted 20 January, 2012 The question is at what point does the sum of the parts become more valuable than the whole. He may keep them going but you can bet he will want it back. At what point does he think he might get more money from the assets on liquidation that from selling them as a running club? Are parachute payments forfeited in the event of liquidation? They're the only reason there's still a Portsmouth Football Club IMO.
trousers Posted 20 January, 2012 Posted 20 January, 2012 One question if I may..... What percentage of Chainrai's wealth has he got tied up in PFC? I'm assuming quite a high percentage given he's clung on for so long rather than cut his losses. (I think I know the answer - parachute payments? - but feel the need to metaphorically pinch myself every now and then to remind myself why this circus goes on and on and on and on....)
stev2001 Posted 20 January, 2012 Posted 20 January, 2012 What? http://www.football-rumours.co.uk/portsmouth-rumours.php "20 Jan 2012 11:19:32 pompey to sign picquine from west ham as he is not getting enough playing time i heard he is travelling to portsmouth sometime next week" Shouldn't they be more worried about paying their existing players this month than looking at new ones! When is pay day anyway, last day of the month??
saint si Posted 20 January, 2012 Posted 20 January, 2012 The question is at what point does the sum of the parts become more valuable than the whole. He may keep them going but you can bet he will want it back. At what point does he think he might get more money from the assets on liquidation that from selling them as a running club? Won't liquidate because the only things of value the club has would instantly become worthless: - player registrations - football league membership - future parachute payments which are contingent on ongoing existence. Admin is a strong prospect without an owner or other injection of funds. Failure to pay the April CVA payment would likely lead to yet another court case, with HMRC pushing for liquidation. There may be a technical argument about oldco vs newco, and whether the CVA technically belongs to newco, but I am sure a court would be able to see through that little ruse, particularly as the whole point of it was to carry out a forensic investigation of oldco, which has apparently not taken place anyway...
Weston Super Saint Posted 20 January, 2012 Posted 20 January, 2012 The question is at what point does the sum of the parts become more valuable than the whole. He may keep them going but you can bet he will want it back. At what point does he think he might get more money from the assets on liquidation that from selling them as a running club? The 'assets' as far as Chinny is concerned amount to the ground, as the child maimer owns / mortgages everything else! We know he has that listed as a £10m asset, but is it seriously worth that? Even with the price of scrap metal being so high, I still can't see that it would be worth even a 20th of that to someone who didn't want to run a football ground on the site - just ask AA how many of those there are!! Last week it was a 'few', early this week it was 'just the one' and now that the one JoCa has pulled out it's back up to a 'few' again. Anyone else get the impression he's making it up as he goes along, just like everyone else associated with the club!
trousers Posted 20 January, 2012 Posted 20 January, 2012 Pearcesport Harry Redknapp's trial is due to begin as scheduled on Monday. Jury selection will begin at 10am 17 minutes ago
Pedro Posted 20 January, 2012 Posted 20 January, 2012 HMRC could be wanting Corporation Tax, VAT, PAYE, NI and the council will want its business rates. Any of us on this forum would be hounded for payment if overdue.
K,Billy's supersound Posted 20 January, 2012 Posted 20 January, 2012 would be the one time i would like to do jury service.
Bearsy Posted 20 January, 2012 Posted 20 January, 2012 I bet they ask the jurors what team they support. If they get Tottenham they're golden, pretty much ****ed with everyone else.
Corporate Ho Posted 20 January, 2012 Posted 20 January, 2012 Sorry girls but I think Chinny has miscalculated this time. For the first time since the **** got involved with us I think he's on the backfoot and any potential buyer now has the upper hand. Next few days will be interesting. Watch any interested parties negotiate that asking price down and down
sidthesquid Posted 20 January, 2012 Posted 20 January, 2012 Sorry girls but I think Chinny has miscalculated this time. For the first time since the **** got involved with us I think he's on the backfoot and any potential buyer now has the upper hand. Next few days will be interesting. Watch any interested parties negotiate that asking price down and down Surely there is no 'asking' price. It's all about the ability to service the unavoidable debt & running costs. Or are you suggesting he will be offering to pay someone to take it off his hands?
Fowllyd Posted 20 January, 2012 Posted 20 January, 2012 Ok, so that leaves three bidders left then... Harry the Horse, and Spanish John, and Little Isidore. They normally act as one though, so maybe they're a consortium. And if you've never read Damon Runyon then you should
Guided Missile Posted 20 January, 2012 Posted 20 January, 2012 Sorry girls but I think Chinny has miscalculated this time. For the first time since the **** got involved with us I think he's on the backfoot and any potential buyer now has the upper hand. Next few days will be interesting. Watch any interested parties negotiate that asking price down and down What you don't get is that a low offer for the club makes it more likely it'll end up as a liquidation. You guys are in for a replay of the Goldstone Ground saga. Still, look on the bright side, the Withdene is available...
stev2001 Posted 20 January, 2012 Posted 20 January, 2012 Surely there is no 'asking' price. It's all about the ability to service the unavoidable debt & running costs. Or are you suggesting he will be offering to pay someone to take it off his hands? Yep the club is worthless in every sense
Gorgiesaint Posted 20 January, 2012 Posted 20 January, 2012 I know its a different league n all but how many paydays did Hearts miss before the SPL finally had a word? Didnt Pompey pay a few wages late in their previous yet drawn out mess? TBH didnt get paid for months!!!! I believe the SPL only got involved after the players made a formal complaint to them via the players union. Otherwise they were doing nothing, I know that the players held off for a couple of months before making the complaint in December. Ironically, Hearts have now been charged by the SPL as allegedly the January wages were not received, despite the club stating they had been paid. Sounds like the payment was requested in time, but as the funds were being transferred from Lithuania, they weren't received until the next day (i.e. 1 day late). Shocking how these football clubs keep having problems with bank systems
70's Mike Posted 20 January, 2012 Posted 20 January, 2012 HMRC could be wanting Corporation Tax, VAT, PAYE, NI and the council will want its business rates. Any of us on this forum would be hounded for payment if overdue. not much chance of the skates owing any Corporation Tax
qwertySFC Posted 20 January, 2012 Posted 20 January, 2012 What you don't get is that a low offer for the club makes it more likely it'll end up as a liquidation. You guys are in for a replay of the Goldstone Ground saga. Still, look on the bright side, the Withdene is available... Bit to big wouldn't you thought
Doctoroncall Posted 20 January, 2012 Posted 20 January, 2012 Surely there is no 'asking' price. It's all about the ability to service the unavoidable debt & running costs. Or are you suggesting he will be offering to pay someone to take it off his hands? The only asking price is how much is the entity worth to Chinny if he's left to selling everything. The ground is registered as worth £10m but that's top end price and what is the access like, I.e has Gaydamak got land completely surrounding it?
JRM Posted 20 January, 2012 Posted 20 January, 2012 I said about "toast" 800 pages or so ago. I see no reason to change my mind. so in other words you were way out then weren't you, i'll only raise a glass and celebrate when they are out of business or felt a low that is worse than ours, bottom of league one on minus 10.
Clapham Saint Posted 20 January, 2012 Posted 20 January, 2012 (edited) Sorry girls but I think Chinny has miscalculated this time. For the first time since the **** got involved with us I think he's on the backfoot and any potential buyer now has the upper hand. Next few days will be interesting. Watch any interested parties negotiate that asking price down and down I suspect that what ever the original plan was it has been well and truely scuppered by the Russian's arrest. The admin and current crisis is just an attempt to pick up the pieces. (on a separate note, and though others will disagree, I'm glad you're back) Edited 20 January, 2012 by Clapham Saint
Clapham Saint Posted 20 January, 2012 Posted 20 January, 2012 so in other words you were way out then weren't you, i'll only raise a glass and celebrate when they are out of business or felt a low that is worse than ours, bottom of league one on minus 10. Only on the timescale. Nothing has ever happened to make the business sustainable and so even if by some miracle a sale is acheived they will still be a long way from being out of the frying pan (/toaster).
Guided Missile Posted 20 January, 2012 Posted 20 January, 2012 Apparently, Corp has been able to sort out a new loan for the Pompey squad:
pedg Posted 20 January, 2012 Posted 20 January, 2012 Apparently, Corp has been able to sort out a new loan for the Pompey squad: Maybe he has one of these to hand, just in case?
Guided Missile Posted 20 January, 2012 Posted 20 January, 2012 Maybe he has one of these to hand, just in case? It was looking like this, for a while:
Chin Strain Posted 20 January, 2012 Posted 20 January, 2012 The ground is the only item of value in my view. The players on big contracts are worth nothing - any transfer fee will be gobbled up by paying up big contracts. Alternatively the new club will take on the wages, but won't be willing to pay a fee. It's a lose lose from Pompey's perspective. Even with the £1m that Ipswich offered, Pearce has only just signed, and hasn't asked for a transfer, so his contract would need paying up. Probably the same for Ward. That's the real reason the deal was turned down as it would probably actually cost Pompey to sell them. So, we're back to brinkmanship. It all seems horribly like 2010, and I can see early Feb being met with a request to sell / loan players outside of the window (if they can raise any capital by doing that - see above). As Chinny holds a charge over CSI, presumably he lands any cash from player sales. Chinny will be more than happy to sit on the ground. £17m is too much for the club, as 'good will' only goes so far, especially with a high possibility of a points deduction - there simply won't be any buyers at that price. The best result for Pompey may not be the best result for Chinny, so Chinny holds the cards here, as he'll be looking for the best result for him. If the club goes bust, he still holds the land - value probably £10m (SMS site was £5m 12 years ago). If there's no football club, the council would be hard pushed to deny planning permission for a supermarket or houses. Any buyer would therefore need £10m cash for Chinny (he may accept less if it gets shot of the club), £10.8m for CSI (or points deduction), £5m for AG, £1.5m per month for wages plus any shortfall in the CVA. Either way, even if Chinny takes £1 and AG takes £1, the cost will still be £10.8m (or points deduction) and the same again in wages until the summer. Chinny will know how many offers he had for the club at £17m last time. One. How many does he now expect? I think this could come to a head very, very quickly. The next 10 days are critical, and then they're fresh out of cash, and options.
Guided Missile Posted 20 January, 2012 Posted 20 January, 2012 The ground is the only item of value in my view. Exactly... ...and as I said earlier to Barbie, this is what they face: Goldstone Ground Retail Outlets The Goldstone Ground (or The Goldstone) was the home ground of Brighton and Hove Albion between 1902 and 1997. After the sale of the ground to private developers, the area was changed to a row of warehouse style retail shops, along with a "drive-thru" Burger King outlet.
SOTONS EAST SIDE Posted 20 January, 2012 Posted 20 January, 2012 (edited) The News has caught up: http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/cala_withdraws_his_bid_to_buy_pompey_1_3442323LOL i do like the advert for "FIND IT" type your search in and "FIND IT" lol ! How many of the blue few typed in a millionaire!! Edited 20 January, 2012 by SOTONS EAST SIDE
trousers Posted 20 January, 2012 Posted 20 January, 2012 @pn_neil_allen: Favourite Cala moment #1. Emailing a photo of himself to The News because he didn't like the ones we were using! #Pompey
krissyboy31 Posted 20 January, 2012 Posted 20 January, 2012 Exactly... a "drive-thru" Burger King outlet.They TOAST their burger buns there!
pedg Posted 20 January, 2012 Posted 20 January, 2012 http://news.bbc.co.uk/sport1/hi/football/16652130.stm Andrew Andronikou is not expecting to finalise a deal until next week, and although earlier this week he told BBC Sport there was a preferred bidder, he now says two or three parties remain in contention. If you are going to make it up as you go along AA you might as well pick one number and stick to it.
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