trousers Posted 13 December, 2012 Posted 13 December, 2012 I'm wondering if Chinny is doing the old if I can't have it no one can move. Because as already indicated he wouldn't pass the FL owner tests so even if he won he couldn't run it. What if "someone" bought it on his behalf...?
buctootim Posted 13 December, 2012 Posted 13 December, 2012 I'm wondering if Chinny is doing the old if I can't have it no one can move. Because as already indicated he wouldn't pass the FL owner tests so even if he won he couldn't run it. Im sure he can find another front man to run it for him.
trousers Posted 13 December, 2012 Posted 13 December, 2012 Im sure he can find another front man to run it for him. I don't wish to offend but I feel we might be on the same wavelength
pedg Posted 13 December, 2012 Posted 13 December, 2012 If you are selling a club would you get more for one in league 2 with no points penalty or one in league 1 with a 10 point penalty? Wonder if chinnys plan is that he realises that if the takeover happens now they are all but consigned to league 2 where as if he can prolong admin (with a much cheaper admin I would guess) then as long as he can get permission in feb for admin to continue then there is a reasonable chance they can avoid relegation at which point he (or rather his tame admin) would sell the club for more that the PST are able to rustle up.
rallyboy Posted 13 December, 2012 Posted 13 December, 2012 and we were thinking that it was the Trust who were the poor relations of the deal, looks like their £1M will buy them full control - of nothing in particular. IF Robinson is potless, as a property developer I'm sure he can raise some funding for a deal that might net him a couple of million. I reckon he must have a few million squirreled away, but if he hasn't, what sort of person is likely to take a punt and lend him money at an alarming interest rate?.... Though that interest rate will rise a percent with every abusive comment in the courtroom corridors. The high court is definitely their second home now, could even be their first home soon. Has the nasty league restricted their support squad to 14? That is unfair. With all that's going on today I can see why they think we are all jealous.
hutch Posted 13 December, 2012 Posted 13 December, 2012 Im sure he can find another front man to run it for him. I heard he was looking for a Virgin from a British Island. Or something like that.
View From The Top Posted 13 December, 2012 Posted 13 December, 2012 Portpin retains ownership of FP and then rents it to the PST to whom it sells PFC for the amount that they raise in pledges. #everyonesawinner
Channon's Sideburns Posted 13 December, 2012 Posted 13 December, 2012 and we were thinking that it was the Trust who were the poor relations of the deal, looks like their £1M will buy them full control - of nothing in particular. IF Robinson is potless, as a property developer I'm sure he can raise some funding for a deal that might net him a couple of million. I reckon he must have a few million squirreled away, but if he hasn't, what sort of person is likely to take a punt and lend him money at an alarming interest rate?.... Though that interest rate will rise a percent with every abusive comment in the courtroom corridors. The high court is definitely their second home now, could even be their first home soon. Has the nasty league restricted their support squad to 14? That is unfair. With all that's going on today I can see why they think we are all jealous.* Bridging finance *could* be an option used initially - which may of course fallen through...many lenders would want a business plan..
gaz Posted 13 December, 2012 Posted 13 December, 2012 Im sure he can find another front man to run it for him.
hutch Posted 13 December, 2012 Posted 13 December, 2012 * Bridging finance *could* be an option used initially - which may of course fallen through...many lenders would want a business plan.. Except that would fall foul of the FL conditions for the golden share
dvaughanwilliams Posted 13 December, 2012 Posted 13 December, 2012 Except that would fall foul of the FL conditions for the golden share I thought that it was only the club's debt that was covered. The PDT have signed an agreement that on purchase of the club, they will instantly transfer ownership of the ground to REL. It would be REL's debt, not the PDT's.
Wurzel Posted 13 December, 2012 Posted 13 December, 2012 If you are selling a club would you get more for one in league 2 with no points penalty or one in league 1 with a 10 point penalty? Wonder if chinnys plan is that he realises that if the takeover happens now they are all but consigned to league 2 where as if he can prolong admin (with a much cheaper admin I would guess) then as long as he can get permission in feb for admin to continue then there is a reasonable chance they can avoid relegation at which point he (or rather his tame admin) would sell the club for more that the PST are able to rustle up. Doesn't matter which way round they do it they have to take the -10 hit THIS season, as it applies when they come out of admin , and they can't start 2 seasons in a row in admin. Edit before posting: Doubting myself now , when does season end and new season start? Last lick? Certain date? When next one kicks off? i.e. can they end this season in admin, sell in summer, and start next season out of it. When would the -10 be applied then? Next year or retrospectively against this years total? Be even funnier if they finish season safe then lose 10 points and get relegated.
Doctoroncall Posted 13 December, 2012 Posted 13 December, 2012 Portpin retains ownership of FP and then rents it to the PST to whom it sells PFC for the amount that they raise in pledges. #everyonesawinner Proposed many many pages ago but will the PST deal with them now?
View From The Top Posted 13 December, 2012 Posted 13 December, 2012 Proposed many many pages ago but will the PST deal with them now? They may well have no choice.
ChicagoSaint Posted 13 December, 2012 Posted 13 December, 2012 [QUOyboy;1553380]and we were thinking that it was the Trust who were the poor relations of the deal, looks like their £1M will buy them full control - of nothing in pa IF Robinson is potless, as a property developer I'm sure he can raise some funding for a deal that might net him a couple of million. I reckon he must have a few million squirreled away, but if he hasn't, what sort of person is likely to take a punt and lend him money at an alarming interest rate?.... Though that interest rate will rise a percent with every abusive comment in the courtroom corridors. The high court is definitely their second home now, could even be their first home soon. Has the nasty league restricted their support squad to 14? That is unfair. With all that's going on today I can see why they think we are all jealous.
qwertySFC Posted 13 December, 2012 Posted 13 December, 2012 I wonder if Judge "closing down " Sales is having a WTF is this all about moment ??
ChicagoSaint Posted 13 December, 2012 Posted 13 December, 2012 Re Rallyboy's question, perhaps Chinny can lend the developer the money. That would keep his skin in the game.
Channon's Sideburns Posted 13 December, 2012 Posted 13 December, 2012 I thought that it was only the club's debt that was covered. The PDT have signed an agreement that on purchase of the club, they will instantly transfer ownership of the ground to REL. It would be REL's debt, not the PDT's. Also, you don't have to have possessionary ownership to raise bridging finance on it - as long as the legal intention is to buy, with a valid exit route for the bridging lender, it's possible they could raise funds that way..at least to do the deal.
trousers Posted 13 December, 2012 Posted 13 December, 2012 Be even funnier if they finish season safe then lose 10 points and get relegated. I don't think my spleen could cope with such hilarity!
trousers Posted 13 December, 2012 Posted 13 December, 2012 They may well have no choice. They (the bestest fans) will ALWAYS have a choice not to get into bed with Chainrai.....they can boycott Fratton Park (if Chainrai regains control) and set up a phoenix club....but, of course, their obsession with retaining FL membership, and thus the links with their murky past, will always win over the much more noble route of starting afresh....
View From The Top Posted 13 December, 2012 Posted 13 December, 2012 They (the bestest fans) will ALWAYS have a choice not to get into bed with Chainrai.....they can boycott Fratton Park (if Chainrai regains control) and set up a phoenix club....but, of course, their obsession with retaining FL membership, and thus the links with their murky past, will always win over the much more noble route of starting afresh.... They should have taken that route 2 years ago.
trousers Posted 13 December, 2012 Posted 13 December, 2012 I wonder if Judge "closing down " Sales is having a WTF is this all about moment ??
qwertySFC Posted 13 December, 2012 Posted 13 December, 2012 Just a thought , upon announcement will it be white or grey smoke coming from F/ Park ?
trousers Posted 13 December, 2012 Posted 13 December, 2012 They should have taken that route 2 years ago. Indeed.
trousers Posted 13 December, 2012 Posted 13 December, 2012 Just a thought , upon announcement will it white or grey smoke coming from F/ Park ? Doesn't fat burn with an acrid black colour smoke?
Ken Tone Posted 13 December, 2012 Posted 13 December, 2012 Doesn't matter which way round they do it they have to take the -10 hit THIS season, as it applies when they come out of admin , and they can't start 2 seasons in a row in admin. Edit before posting: Doubting myself now , when does season end and new season start? Last lick? Certain date? When next one kicks off? i.e. can they end this season in admin, sell in summer, and start next season out of it. When would the -10 be applied then? Next year or retrospectively against this years total? Be even funnier if they finish season safe then lose 10 points and get relegated. Have been wondering the same thing. The league has a history of applying deducions when they most hurt, regardless, but they've been so soft on portsmouth so far in comparison to what they did to Luton and others (even bournemouth), that -- who knows?
trousers Posted 13 December, 2012 Posted 13 December, 2012 http://www.bbc.co.uk/sport/0/football/20715161
hutch Posted 13 December, 2012 Posted 13 December, 2012 Also' date=' you don't have to have possessionary ownership to raise bridging finance on it - as long as the legal intention is to buy, with a valid exit route for the bridging lender, it's possible they could raise funds that way..at least to do the deal.[/quote'] Again the FL won't let them buy with debt, they need to raise ALL the money through equity. I understand the point dvw made, but don't agree. Birch has had to wrap it up as a single indivisible transaction involving the Trust and it's "Strategic Property Partner". Because if he doesn't do that then he will have to sell the club and the stadium separately, the ground will be sold to the highest bidder and they will end up playing at Moneyfields before you can say Jack Robinson.
qwertySFC Posted 13 December, 2012 Posted 13 December, 2012 In the second half of the hearing, Katherine Holland told the court: ‘I’m happy to tell you those (discussions) have resulted in considerable progress.’ Basically we flipped a coin in the court cafe and REL are buying the coffee's
OldNick Posted 13 December, 2012 Posted 13 December, 2012 They should have taken that route 2 years ago.Exactly, they talk about being noble but hang onto the corpse and will lick the gusset clean on a tramps underpants if it means they can stay in the league and keep the old decrepit rotten corpse that used to be Portsmouth football club
badgerx16 Posted 13 December, 2012 Posted 13 December, 2012 I think the season ends at the final whistle of the last match played, therefore after the last playoff final. It can be found in the FL rules.
dubai_phil Posted 13 December, 2012 Posted 13 December, 2012 I am reminded of that disaster movie classic - Airplane, a quick message for the Judge from us
Channon's Sideburns Posted 13 December, 2012 Posted 13 December, 2012 Again the FL won't let them buy with debt, they need to raise ALL the money through equity. I understand the point dvw made, but don't agree. Birch has had to wrap it up as a single indivisible transaction involving the Trust and it's "Strategic Property Partner". Because if he doesn't do that then he will have to sell the club and the stadium separately, the ground will be sold to the highest bidder and they will end up playing at Moneyfields before you can say Jack Robinson. But that's my point - perhaps it's been made clear some form of bridging is being used..
qwertySFC Posted 13 December, 2012 Posted 13 December, 2012 Just from my scribbled notes of todays procedings If you gave an order 00:03 → 00:05 that Fratton Park wasn't to be touched... 00:06 → 00:08 and your orders are always followed... 00:10 → 00:12 then why would Fratton be in danger? 00:15 → 00:17 Why would it be necessary, to transfer in more players? 00:24 → 00:26 Fratton was a substandard Ground 00:27 → 00:28 - Players were being transferred - That's not what you said! 00:29 → 00:31 You said players being transferred in because the club was in grave danger. 00:32 → 00:32 That's correct! 00:33 → 00:34 You said it's in danger. I said, :Grave danger?: You said, :Is there any other kind?: 00:35 → 00:37 - I recall what I said. - I can have it read back to you. 00:38 → 00:40 I know what I said! I don't have to have it read back to me, like an . . . 00:41 → 00:42 Then why the two orders? 00:43 → 00:45 PST ? 00:46 → 00:48 Sometimes men take matters into their own hands. 00:49 → 00:51 You've made it clear that your men never take matters into their own hands 00:52 → 00:53 Your men follow orders, or we lose more points 00:54 → 00:56 So Fratton should have been in danger, should he? 00:57 → 00:59 - You snotty little bastard. - I'd like to ask for a recess. 01:00 → 01:03 - I'd like an answer to the question. - The court will wait for an answer. 01:04 → 01:06 If PST gave an order... 01:07 → 01:08 that Fratton wasn't to be touched... 01:10 → 01:11 then why did players have to be transferred in? 01:13 → 01:13 PST . .? 01:15 → 01:18 Your manager ordered more players because that's what you told him to do! 01:19 → 01:21 - Object! - And then you cut these guys loose! 01:22 → 01:24 - I'll hold you in contempt. - You doctored the account logbook! 01:25 → 01:27 - Damn it, - Consider yourself in contempt. 01:28 → 01:30 PST , did you order the players in 01:31 → 01:33 - You don't have to answer that. - I'll answer the question. 01:34 → 01:36 - You want answers? - I think I'm entitled! 01:37 → 01:38 - You want answers? - I want the truth! 01:39 → 01:40 You can't handle the truth!
St Chalet Posted 13 December, 2012 Posted 13 December, 2012 @lyzchambers: SSN say Portpin told them property developer cannot now raise money to buy FP. Guilfoyle said hes been told other buyers out there #pompey You couldn't make it up!
dvaughanwilliams Posted 13 December, 2012 Posted 13 December, 2012 Doesn't matter which way round they do it they have to take the -10 hit THIS season, as it applies when they come out of admin , and they can't start 2 seasons in a row in admin. Edit before posting: Doubting myself now , when does season end and new season start? Last lick? Certain date? When next one kicks off? i.e. can they end this season in admin, sell in summer, and start next season out of it. When would the -10 be applied then? Next year or retrospectively against this years total? Be even funnier if they finish season safe then lose 10 points and get relegated. I wonder if the March deadline applies to this case like other admins. It would be funniest if they came out of admin in April, got relegated on their own merit and had the -10 apply next season.
dvaughanwilliams Posted 13 December, 2012 Posted 13 December, 2012 @lyzchambers: SSN say Portpin told them property developer cannot now raise money to buy FP. Guilfoyle said hes been told other buyers out there #pompey You couldn't make it up! If this is true, the trust is finished.
latter day saint Posted 13 December, 2012 Posted 13 December, 2012 i must say seeing the pet skate at work suffer as he was txt any info from court this mornig was very enjoyable he looked like he had just been to the morgue! i'm almost sad i wont be in work tomorrow so i can ask him about some of the points raised on here today.
ZepSaint Posted 13 December, 2012 Posted 13 December, 2012 Been thinking recently ...............................wonder if this comedy script will go to 100,000 posts ................think I know the answer now !
St Chalet Posted 13 December, 2012 Posted 13 December, 2012 Chanrai has never been a hero. Must be tough for a Pompey fan living in Southampton right now
Torres Posted 13 December, 2012 Posted 13 December, 2012 Must be tough for a Pompey fan living in Southampton right now Fixed.
hutch Posted 13 December, 2012 Posted 13 December, 2012 @lyzchambers: SSN say Portpin told them property developer cannot now raise money to buy FP. Guilfoyle said hes been told other buyers out there #pompey You couldn't make it up! Which surely means that he didn't get the Gaydamak land, so back to the fundamental question "who did?". Their fate hangs on the answer.
Lazlo78 Posted 13 December, 2012 Posted 13 December, 2012 BBC @BBC Breaking News for #Pompey: Guy Whittingham worked as an Iraqi tank driver during the Gulf War! Shocking!
latter day saint Posted 13 December, 2012 Posted 13 December, 2012 i know i shouldn't really be surprised but how is it that everything to do with the skates is never straight forward. its like one of those russian dolls but so many layers have been removed their down to a molecular level by now
Dangermouth Posted 13 December, 2012 Posted 13 December, 2012 When are the FA likely to think "F this!" and consider withdrawing/not granting a Golden Share?
CB Saint Posted 13 December, 2012 Posted 13 December, 2012 @lyzchambers: SSN say Portpin told them property developer cannot now raise money to buy FP. Guilfoyle said hes been told other buyers out there #pompey You couldn't make it up! I wonder how you must be feeling if you have already coughed up the £1000. Difficult conversation to have with the missus. "Darling, you that investment I said we were making last week? well it has just gone south."
trousers Posted 13 December, 2012 Posted 13 December, 2012 When are the FA likely to think "F this!" and consider withdrawing/not granting a Golden Share? When the FA get taken over by the FL I guess.... (sorry, couldn't resist such a pedantry opportunity)
Torres Posted 13 December, 2012 Posted 13 December, 2012 I wonder how you must be feeling if you have already coughed up the £1000. Difficult conversation to have with the missus. "Darling, you that investment I said we were making last week? well it has just gone south." I suspect they'll get their money back. I mean, it's not like Farmery and friends can keep the money raised so far and bunk off to Brazil, is it? The few thousands pounds they have wouldn't last until Christmas.
Channon's Sideburns Posted 13 December, 2012 Posted 13 December, 2012 Ah well, look at it this way. As it's likely to drag through the January Transfer Window, Corporal Guy can roll out the same well used PR shtick sent out by Messrs Avram, Cotterill et al - about 'we need approval to bring more players in'... :lol:
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