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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella
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Wurzel

Wurzel

Posted
Posted

Having found the link cryptically referred to by Trousers above, the one thing I still can't understand is why was Storrie's case held separately whilst R&M are tried together? Only logical reason I can think of is the payment in question in the current case made to Rosie47 from First Star was simply as agreed between R & M, so no record anywhere in PFC paperwork. If so Storrie could, justifiably have been able to claim no knowledge of it. And maybe harder to prove that it actually related to what we all know that it did relate to. Whereas any transactions Storrie charged with may have had a paper trail back to PFC, but if that was so surely R&M or at least one of them must have been aware of, if not involved with, any of the transactions, but weren't tried with him (or later) on those counts.

Curiouser and curiouser

Wibble

Wibble

Posted
Posted
Having a thick moment I guess but I am still none the wiser. lol. Too criptic for me on a Monday. :(

 

3 words for Google - Mandaric August 3 ;)

Chez

Chez

Posted
Posted
I also thjink this is likely, after they go into administration. The adminstrator (if it is a real one this time) will sell on the cheap or even just release players, to reduce the wage bill. 'Buying' clubs will take them if they are a real bargain, but not be able to play them till next season.

 

7.5 months of wages for no return is going to put off almost every suitor. Of course the loan window can be used to offload on a huge fee as well, so Tuesday is not the ultimate cut off date to sell players to make ends meet.
Sour Mash

Sour Mash

Posted
Posted
Amazed not more is made of it. Just shows how self-involved and dense a lot of football people are. There's Barry Fry, usually the bluntest tool in the box anyway, saying he feels sorry for Portsmouth and someone should buy them. No clue of what they've done. Meanwhile a team they can't afford and shouldn't have comfortable beat his side and take 3 points.

 

It's putting me off the sport more and more each week. I don't seem to care if they win or lose on the pitch now, they simply shouldn't be there full stop. How does a business choose not to pay tax? Those players are out there simply because the club chose to have them rather than pay tax. They've cheated every other club in the league, and that's just the short term, ignoring the years of more blatant cheating prior to this. Huge tax sums written off, then sorry we can't pay again.

 

That would be a massive ****take from a club who'd sold all their players and was relying on kids to at least be sustainable short term. But coming from a club that's once again spent big, paid huge wages and laughed in the face of every taxpayer including their own fans? Please fck off. The sport has no place for businesses like this.

Sums up my views on the whole thing perfectly, and as you say, how dense are so many in football? It's beyond taking the p**s and I bet they (relatively speaking) get away with it again.
Doctoroncall

Doctoroncall

Posted
Posted
@pn_neil_allen: In case anyone missed this, Ryan Williams today closing in on Fulham switch. The #Pompey sales have begun it seems. http://t.co/rYSxyYKK

 

Selling their future for £0.5m apparently, 18yr old Williams had only just broke into the first team. I suppose that is what you get if you cannot sell the big earners. I wouldn't be surprised if there was a loan back to the skates included in the deal.

trousers

trousers

Posted
Posted (edited)

default_profile_5_normal.png David Brown @DavidhBrown

Milan #Mandaric starts giving evidence in Harry #Redknapp tax evasion trial. Tweet posted by @timesnewsdesk

 

#Mandaric in dispute with taxman over £650,000 transferred to Portsmouth FC from Monaco bank in 2002, court told. Posted by @timesnewsdesk

#Mandaric bought Portsmouth FC in 1999 to save it from closure and paid its tax debts, he tells #Redknapp trial Posted by @timesnewsdesk

Edited by trousers
Frank's cousin

Frank's cousin

Posted
Posted

Problem is.... most deals will have payments pread so finding clubs willing tio part with casj up front is unlikely - which is why tehy may need to sell younger players cheap hoping to get cash up front...

holepuncture

holepuncture

Posted
Posted
Interestingly earlier Kris Temple said something along the lines of 'well perhaps the FA transfer rules could be relaxed a little so Pompey could sell a few players'

 

THANKFULLY someone texted in to tell him what a stupid precedent that would set, and that it's unfair on other clubs if others can't deal with their finances.

 

They're all making excuses for them again.

 

Pompey CHOSE 'quality over quantity' last season.

 

Pompey CHOSE to buy more mercenaries under Redknapp rather than invest in infastructure.

 

Pompey CHOSE to pay the players instead of HMRC last month.

 

No more of this 'fookin bleating from TCWTB on Solent about 'somebody save us'.

 

No John, Skates need saving..just from themselves.

 

Post of my life! Well said CS.

 

Had a pet skate giving it the 'its not about the money' after I repeatedly called for the flapping skate on the poop deck to be whacked over the head and killed.

 

'we should be allowed to continue' blah blah... in denial. I guess they forget this was all a lifestyle choice for them and they maxed out the credit cards... they cant handle the hangover.

 

DFCSBs

rallyboy

rallyboy

Posted
Posted

I hope for their sake that Plan B is more advanced than that clip would suggest.

 

Ground? Players? Infrastructure? Funding?

No, but they have some under-priviliged kids lined up as mascots...

 

Though it was good to see their entire fanbase in one clip.

 

sell up pompey.

Firesale, everyone must go, one day left, grab a bargain.

Kingsland Red

Kingsland Red

Posted
Posted
James Pearce @Pearcesport

Mandaric says it wasn't Redknapp's money in Rosie47. "It was my money". Mandaric says Redknapp only entitled to profit on it

 

Brilliant, the work of genius,the jury are bound to fall for this latest 'twist'.

 

MM sets up a bank account in Monaco in the name of Redknapp's dog so 'Arry can draw off the interest. Well Malcolm or Sandra can on 'Arry's behalf as with his two year old writing skills and computer illiteracy, plus never looking at bank accounts, he wouldn't know what it all means.

 

Do these clowns really think they can spin a yarn to suit ?

Channon's Sideburns

Channon's Sideburns

Posted
Posted

Are we missing something here?

 

One place runs through the prosecutions evidence - Monaco.

 

In prior investigations into Amdy Faye's transfer to Poopey, other parties involved included his agent, Willie McKay. Who is based...(or was based) in Monaco.

 

Coincidence?

Gingeletiss

Gingeletiss

Posted
Posted
James Pearce @Pearcesport

Mandaric says it wasn't Redknapp's money in Rosie47. "It was my money". Mandaric says Redknapp only entitled to profit on it

 

So, multi millionare Twitch, has access to an offshore account in his dogs name, with a remit from his chairman, that he may use the interest on said account, if he gets a little short of cash............................yeh! right!!!

trousers

trousers

Posted
Posted

 

Whoops indeed....minus 10 points please...

 

"

Portsmouth's players will not be paid their monthly wages - in a massive new blow for the cash-strapped club.

 

Boss Michael Appleton had to break the shock news to the squad on Monday as the Fratton Park outfit faced up to an uncertain financial future.

 

The wages will not be paid until a bank account, frozen by the tax man, is cleared for use and Pompey will try to sort out that problem on Tuesday.

 

Pompey will also have to rely on their players wanting to risk their careers without any guarantee of pay while they try to sell some of them to get the cash to avoid a winding-up order.

 

 

The crisis really hit home when the squad found out that there is nothing going into their banks in the latest horror twist for the troubled club.

 

Pompey may now be forced to do quick deals as the club unravels. Ipswich boss Paul Jewell wants to push through a £1.5million-plus double swoop for versatile Joel Ward and centre half Jason Pearce.

 

Jewell is trying to agree a fee with Pompey's administrator. However senior officials have refused to sanction the move.

 

Meanwhile Fulham boss Martin Jol is set to sign Portsmouth's Australian starlet Ryan Williams in a £500,000 raid on the cash-strapped club.

 

Midfielder Williams was in talks at Craven Cottage yesterday and played for their reserves last night ahead of joining Jol's first-team squad as Pompey try to raise funds without harming their own squad.

"

andysstuff

andysstuff

Posted
Posted
Superb. Failure to pay the players HAS to result in points deductions surely?

 

Unfortunately I think they failed to pay then 4 months in a row before the last admin with no penalty.

ooh it's a corner

ooh it's a corner

Posted
Posted

So, let me get this right.

 

They have a WUP for £800k. There will be a further £1.6m due to HMRC to bring them up to date.

 

There is a further £200K due to HMRC for VAT.

 

They can't sell any assets without HMRC say so, and HMRC's debt being paid.

 

They have a frozen bank account, presumably in overdraft, or else they would have paid off HMRC to prevent their assets being frozen.

 

They can't pay their players (or other staff presumably) this month.

 

They have waited all until the last day of the month to start to try to sell players, which we have speculated could end up costing them money, to pay off the contracts of higher earners as they move to more realistic salaries elsewhere.

 

If somebody takes them into adminstration, this is going to cost millions, just to get them through to the end of February;

 

HMRC debt - £2.6m

January wages - £1.2m ?

Feb wages - £1.2m ?

Other creditors?

 

So, they need £5m+ now to last another month.

 

The parachute payments are all ear-marked for CVA creditors....

 

It will be a brave person who pays for their administration (at several million a month this looks like an easy way to lose money).

 

Shut the business down. Start again. It's what any sensible person should do.

trousers

trousers

Posted
Posted

@pn_neil_allen: #Pompey players and staff have not paid for January. Andronikou reveals club bank account has been frozen after HMRC winding-up petition.

Channon's Sideburns

Channon's Sideburns

Posted
Posted
@pn_neil_allen: #Pompey players and staff have not paid for January. Andronikou reveals club bank account has been frozen after HMRC winding-up petition.

 

Being sneaky - I looked at a convo between Alan Nixon from the Mirror earlier on Twitter. Turns out Ipswich wanted two Pompey players, then came back in for another (presumably Kitson) - Andronikou agreed the deal but it was vetoed by the 'board' - I assume that means Lembitt.

 

Dodgy ground...and I don't mean Nottarf Krap - just shows that Andronikou is TRYING to do something though...

trousers

trousers

Posted
Posted
Being sneaky - I looked at a convo between Alan Nixon from the Mirror earlier on Twitter. Turns out Ipswich wanted two Pompey players, then came back in for another (presumably Kitson) - Andronikou agreed the deal but it was vetoed by the 'board' - I assume that means Lembitt.

 

Dodgy ground...and I don't mean Nottarf Krap - just shows that Andronikou is TRYING to do something though...

 

Well, I suppose that highlights that AA is administrator for CSI, not PFC2010....

saint si

saint si

Posted
Posted
Being sneaky - I looked at a convo between Alan Nixon from the Mirror earlier on Twitter. Turns out Ipswich wanted two Pompey players, then came back in for another (presumably Kitson) - Andronikou agreed the deal but it was vetoed by the 'board' - I assume that means Lembitt.

 

Dodgy ground...and I don't mean Nottarf Krap - just shows that Andronikou is TRYING to do something though...

 

Such a shame then that AA is not in charge of PFC, in his role as administrator of the parent company, with the affairs of PFC being solely the responsibility of its board of directors...

Frank's cousin

Frank's cousin

Posted
Posted

AA is in fact doing what is right for CSI - he needs pompey to stay alive so that they can pay back the 10.8 mil - they go bust or ADMIN and a CVA will give CSI about 5p in the pound LOLage - AA on on the other side for once.....

qwertySFC

qwertySFC

Posted
Posted
So are they blaming their inability to pay the players on the tax man?? Nothing to do with the fact they don't actually have the cash to pay them anyway...

 

Surely its just a small technical error - A recent bank holiday , staff error , computer network broken down , an oversight by clerical staff :)

trousers

trousers

Posted
Posted
AA is in fact doing what is right for CSI - he needs pompey to stay alive so that they can pay back the 10.8 mil - they go bust or ADMIN and a CVA will give CSI about 5p in the pound LOLage - AA on on the other side for once.....

 

Indeed. Not to mention the fact that the no.1 objective for AA is to maximise profits for the company that pays his salary, I.e. UHY Hacker

 

Anyone care to guess which outcome would now generate the most revenue for his employer?

cryoman1965

cryoman1965

Posted
Posted
Being sneaky - I looked at a convo between Alan Nixon from the Mirror earlier on Twitter. Turns out Ipswich wanted two Pompey players, then came back in for another (presumably Kitson) - Andronikou agreed the deal but it was vetoed by the 'board' - I assume that means Lembitt.

 

Dodgy ground...and I don't mean Nottarf Krap - just shows that Andronikou is TRYING to do something though...

 

Could it have been vetoed because the offer from Ipswich was not enough to pay off the players contracts. So leaving Poopey worse off in the deal.

St Chalet

St Chalet

Posted
Posted

Appleton had to break the shock news!

 

Really? Their training setup is a portacabin, their ground is secured to a HK loan shark, the land around it is owned by the son of an arms dealer, two of their owners and 1 manager from their last 5 years are in live court proceedings and they are facing a winding up petition.

 

This news really surprises me for one.

 

Sent from my HTC using Tapatalk

saintjay77

saintjay77

Posted
Posted
Such a shame then that AA is not in charge of PFC, in his role as administrator of the parent company, with the affairs of PFC being solely the responsibility of its board of directors...

 

If thats the case why were Ipswich trying to buy players via AA?

 

Also does this put teh current PFC directors in the poo regarding responsability whilst trading insolvently?

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