Big Bad Bob Posted 22 January, 2013 Posted 22 January, 2013 Seriously, how on earth can the council talk about loaning them anything when the council are making cut backs elsewhere, or is this to be justified by the mythical ££squillions pompey adds to the local economy? The council are justifying it on the fact that it's a short term loan (Feb-Aug) that will be paid back out of the PPs Not sure how many of here have a grip of US civil war history or Pickett's Charge.
miserableoldgit Posted 22 January, 2013 Posted 22 January, 2013 Not sure how many of here have a grip of US civil war history or Pickett's Charge. Last day of Gettysburg. Very apt! Sent from my HTC Desire S using Tapatalk 2
Foxy Posted 22 January, 2013 Posted 22 January, 2013 http://www.telegraph.co.uk/science/9814620/I-can-create-Neanderthal-baby-I-just-need-willing-woman.html Should be plenty of takers for this on Portsea Island?? Could write off their debt..... Plenty down that way suggesting it's already been done
dubai_phil Posted 22 January, 2013 Posted 22 January, 2013 Plenty down that way suggesting it's already been done Welcome back stranger!
positivepete Posted 22 January, 2013 Posted 22 January, 2013 Not sure how many of here have a grip of US civil war history or Pickett's Charge. This thread has been an education for a lot of us
Gemmel Posted 22 January, 2013 Posted 22 January, 2013 Steve Wilson @pn_steve_wilson I'd sure hate to be an Aston Villa fan right now. Just think of the stick they might, for example, get at work tomorrow. Hypothetically... Ha ha..... forgot neil alllen was a villa fan
CB Fry Posted 22 January, 2013 Posted 22 January, 2013 (edited) Think of the inspiration a Swansea v Bradford cup final will give the deluded phew. L2 "sleeping giant" built on shoestring vs fan- owned club shooting up the divisions from the fourth tier a decade ago. I already feel ill. Nothing against those two teams, you understand. But I can already see the article forming in Neil Allen's tiny mind. Edited 23 January, 2013 by CB Fry
trousers Posted 22 January, 2013 Posted 22 January, 2013 @Chrismich1953: @pn_neil_allen villa out to lowly Bradford Neil !! Do you always back losers ?
Pugwash Posted 22 January, 2013 Posted 22 January, 2013 Not sure how many of here have a grip of US civil war history or Pickett's Charge. Basically, they were losing hand over fist, getting shot to pieces, convincing themselves they were doing much better than they actually were. All on Cemetery Ridge. This was swiftly followed by the burning of Atlanta and a final appearance at Appomattox Court House. Quite an analogy really.
rallyboy Posted 23 January, 2013 Posted 23 January, 2013 I guess it's quiet on here simply because there is no takeover. Watching someone arrogant and gobby sink into abject poverty is funny I grant you, but for laughs I preferred it when they were in bed with organised crime and lunatics - a time when Ho had a little Fisher Price megaphone and we could hear delusion close-up. It was way more entertaining than some over-the-hill journeyman nobody pledging his future to the battling blues and announcing that he will score the goals to fire the bestest back to glorytown Or seeing Guy Whittingham stood in a technical area as bailiffs dismantle the dugout behind him and take his boots off. It's getting tedious, something entertaining had better happen soon or pompey will become an irrelevance.
trousers Posted 23 January, 2013 Posted 23 January, 2013 I guess it's quiet on here simply because there is no takeover. Watching someone arrogant and gobby sink into abject poverty is funny I grant you, but for laughs I preferred it when they were in bed with organised crime and lunatics - a time when Ho had a little Fisher Price megaphone and we could hear delusion close-up. It was way more entertaining than some over-the-hill journeyman nobody pledging his future to the battling blues and announcing that he will score the goals to fire the bestest back to glorytown Or seeing Guy Whittingham stood in a technical area as bailiffs dismantle the dugout behind him and take his boots off. It's getting tedious, something entertaining had better happen soon or pompey will become an irrelevance. Interesting use of the future tense there me ol' mucker....
Gemmel Posted 23 January, 2013 Posted 23 January, 2013 http://www.portsmouth.co.uk/sport/pompey/dowling-promises-weren-t-kept-1-4706349 You just have to be glad they can make some money in football, because you wonder what else they could actually do. Complaining about leaving his job to go to pompey, but they didn't keep their promises. All the players and staff should still be there. We should all still be there, though. Michael was going to put us in the right direction and where the club should be. It should be happening. LOL, did he check Appletons record in the championship? I wonder what it was that lured him from a permanent, stable job at Palace? Anyway, back with his old boss, , he will be able to build west brom mk2 in no time.
bridge too far Posted 23 January, 2013 Posted 23 January, 2013 "when I say that it’s not Michael Appleton’s fault, he just relaid the news from those trying to sell the club." So NA doesn't proof-read his copy then -poor, poor journalism. Or is it 'relaid' in the context of tarmac as that's the language they understand down there?
dubai_phil Posted 23 January, 2013 Posted 23 January, 2013 "when I say that it’s not Michael Appleton’s fault, he just relaid the news from those trying to sell the club." So NA doesn't proof-read his copy then -poor, poor journalism. Or is it 'relaid' in the context of tarmac as that's the language they understand down there? No, think that has been std pcfc speak since Avram's time when referring to managers
rallyboy Posted 23 January, 2013 Posted 23 January, 2013 technically there is an argument to say it was 'relaid' - he took the facts about insolvent trading, multiple promises of PPs to all, and basketcase plans for the future, broke them up with a sledge hammer and created a new fluffy version that would fool dim people. He then presented this new version of reality to both backroom staff and players and the really thick ones all rushed down with their wheelbarrows to be part of the biggest and bestest and most passionate cash bonanza and liquidation party ever. If only people in football could use Google, or this thread...no one knew that there were any issues surrounding the club at any point, everyone has be taken by surprise at every turn. Criminals, money-laundering, prossies, tax-evasion - it's all come as a massive shock, unless you have a basic grasp of the internet. Cue people being aghast that the figures still don't stack up - surely they must have some sort of Broadband in Portsea? Is it the keyboards - too small for webby fingers? Or the actual words - are they all long and lettery?... It's not difficult to do research so I have zero sympathy with any player or hairdresser who went to an insolvent club and was then horrified to discover that the club was insolvent.
dingbattigger Posted 23 January, 2013 Posted 23 January, 2013 technically there is an argument to say it was 'relaid' - he took the facts about insolvent trading, multiple promises of PPs to all, and basketcase plans for the future, broke them up with a sledge hammer and created a new fluffy version that would fool dim people. He then presented this new version of reality to both backroom staff and players and the really thick ones all rushed down with their wheelbarrows to be part of the biggest and bestest and most passionate cash bonanza and liquidation party ever. If only people in football could use Google, or this thread...no one knew that there were any issues surrounding the club at any point, everyone has be taken by surprise at every turn. Criminals, money-laundering, prossies, tax-evasion - it's all come as a massive shock, unless you have a basic grasp of the internet. Cue people being aghast that the figures still don't stack up - surely they must have some sort of Broadband in Portsea? Is it the keyboards - too small for webby fingers? Or the actual words - are they all long and lettery?... It's not difficult to do research so I have zero sympathy with any player or hairdresser who went to an insolvent club and was then horrified to discover that the club was insolvent. Very much this I believe
Gemmel Posted 23 January, 2013 Posted 23 January, 2013 farmery on jackonary right now.... Sorry news web cast
Gemmel Posted 23 January, 2013 Posted 23 January, 2013 Comment From Guest Guest : ] Has the current financing of the club by the HNW's reduced the potential shareholding percentage by the PST? if so, by roughly how much? Wednesday January 23, 2013 13:08 Guest [TABLE=width: 100%] [TR] [TD=class: chatmsgtime]13:09 [/TD] [TD=class: chatmsgtext altcaster_text][TABLE] [TR] [TD][/TD] [TD]Colin: No. PST has up to at least one year to convert shares. We are confident PST will hold a majority stake.[/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] Ha ha ha ha Keep those wheels on the goal posts
seaempty Posted 23 January, 2013 Posted 23 January, 2013 (edited) "Confident" is his favourite word, it seems. It's appeared in almost all of his answers so far. "The lady doth protest too much, methinks" Edited 23 January, 2013 by seaempty
trousers Posted 23 January, 2013 Posted 23 January, 2013 Bugger....been so distracted by the Pochettino new manager malarkey that forgot there was a webchat today. What was that you were saying about Pompey becoming irrelevant RallyBoy?
trousers Posted 23 January, 2013 Posted 23 January, 2013 [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:27 [/TD] [TD=class: chatmsgtext viewer_text][TABLE] [TR] [TD][/TD] [TD]Comment From Zorba Are PKF owed all of their fees (est 2 mill) or have they been paid some already? If so, how much is still owed?[/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:29 [/TD] [TD=class: chatmsgtext altcaster_text][TABLE] [TR] [TD][/TD] [TD]Colin: That is probably a question for PKF. I don't have any information on the sums involved, but this is directly a matter for the creditors, not PST.[/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] Do what? How on earth can the Trust come up with a meaningful business plan if they don't have a scooby how much PKF will sting the available funds for? Sorry but that's just unbelievable...
anothersaintinsouthsea Posted 23 January, 2013 Posted 23 January, 2013 None of my questions have got through yet. My latest offering: "Colin, do you think that "the News" journalists only scraping together enough cash for one pledge was a bit pathetic?"
suewhistle Posted 23 January, 2013 Posted 23 January, 2013 Interesting use of the future tense there me ol' mucker.... I think Rallyboy is referring to the _non-footballing_ entertainment they provide...
TopGun Posted 23 January, 2013 Posted 23 January, 2013 Colin: No. The deal is to buy the club from PKF, so the terms of that deal need to be known before it can be completed. I'd say March 1 is a realistic target date, but hopefully sooner. Ho hum...
trousers Posted 23 January, 2013 Posted 23 January, 2013 [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:39 [/TD] [TD=class: chatmsgtext viewer_text][TABLE=width: 504] [TR] [TD][/TD] [TD]Comment From Geoff Why are the PST suddenly confident of buying Fratton Park on Day 1, when previously they were reliant on Stuart Robinson to buy it?[/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:41 [/TD] [TD=class: chatmsgtext altcaster_text]Colin: The business plan has been worked on continually over the past weeks and months. It was always the intention to buy FP on Day One. The cash flows have been worked on and this is now a possibility again. It is the best option from PFC's point of view.[/TD] [/TR] [/TABLE] Re-writing history....?
Jimmy_D Posted 23 January, 2013 Posted 23 January, 2013 They're going to need permission to extend the admin period past a year then.
trousers Posted 23 January, 2013 Posted 23 January, 2013 [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:41 [/TD] [TD=class: chatmsgtext viewer_text][TABLE=width: 504] [TR] [TD][/TD] [TD]Comment From Guest Are the PCC loan conditions able to be met?[/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:43 [/TD] [TD=class: chatmsgtext altcaster_text]Colin: We are grateful for PCC's willingness make this loan. The key aspect of it was to ensure the club doesn't go into liquidation. We are in that situation at present, so it is an option for us and I feel sure we can meet the conditions if required.[/TD] [/TR] [/TABLE] So, the parachute payments will be paid directly to the council (one of their conditions)?
TopGun Posted 23 January, 2013 Posted 23 January, 2013 This is just a load of empty platitudes again. More guff about the bid being robust but nothing about the details of the figures.
trousers Posted 23 January, 2013 Posted 23 January, 2013 [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:45 [/TD] [TD=class: chatmsgtext viewer_text][TABLE=width: 504] [TR] [TD][/TD] [TD]Comment From geronimo44 Colin. Wouldn`t it have been best to liquidate and spend money on a phoenix club rather than try to save what is essientially now a dead duck. The amount of "baggage" that the current club is carrying must make a clean break and a new start more attractive?[/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:47 [/TD] [TD=class: chatmsgtext altcaster_text]Colin: I disagree. A phoenix club would be a hugely risky venture. Conference South at best. No stadium of its own more than likely. Saving the current PFC, even as a League 2 club is the best bet of getting at least Championship football back in the city.[/TD] [/TR] [/TABLE]
trousers Posted 23 January, 2013 Posted 23 January, 2013 [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:48 [/TD] [TD=class: chatmsgtext viewer_text][TABLE=width: 504] [TR] [TD][/TD] [TD]Comment From Guest If the judge values FP at more money than the trust can afford - what are the options left (apart from plan B) for the club[/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:49 [/TD] [TD=class: chatmsgtext altcaster_text]Colin: That is a very good question. As I said, PST's legal advice is that we have a robust case. Were that to happen, it's what Sir Alex describes as squeaky bum time...[/TD] [/TR] [/TABLE]
trousers Posted 23 January, 2013 Posted 23 January, 2013 Hmmm.... @pn_neil_allen: Well this is a first. @colinfarmery vowed to answer every #Pompey webchat comment, even from WUM & them down the road! http://t.co/7dUa5ZEn
Matthew Le God Posted 23 January, 2013 Posted 23 January, 2013 Hmmm.... @pn_neil_allen: Well this is a first. @colinfarmery vowed to answer every #Pompey webchat comment, even from WUM & them down the road! http://t.co/7dUa5ZEn Come on then lads, think quickly... what would be the most difficult and awkward question about the situation for him to answer? The PST's business plan is so shot full of flaws it shouldn't be hard.
trousers Posted 23 January, 2013 Posted 23 January, 2013 [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:51[/TD] [TD=class: chatmsgtext viewer_text][TABLE=width: 504] [TR] [TD][/TD] [TD]Comment From Rory How much debt is on the club? then how much do the trust feel they need to raise a season to repay that debt?[/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:53[/TD] [TD=class: chatmsgtext altcaster_text]Colin: There are the football creditor liabilities, which are approximately £8.5m. Then there is the settlement of the new CVA, which I can't remember how much that is off the top of my head. The evolving business plan for the club for the next 4-5 years remains robust. The more money we raise in capital, the better position the club will be in. Likewise, even if you can buy a share, buy a season ticket. All the additional revenue going into the club will be used on the club...[/TD] [/TR] [/TABLE] Can't remember how much they own local businesses, charities and taxpayers..... disgraceful....
trousers Posted 23 January, 2013 Posted 23 January, 2013 Come on then lads, think quickly... what would be the most difficult and awkward question about the situation for him to answer? The PST's business plan is so shot full of flaws it shouldn't be hard. He's not answered any about the parachute payments....yet....
TopGun Posted 23 January, 2013 Posted 23 January, 2013 Hmmm.... @pn_neil_allen: Well this is a first. @colinfarmery vowed to answer every #Pompey webchat comment, even from WUM & them down the road! http://t.co/7dUa5ZEn He's not answered mine about the seemingly multiple destinations for the PPs yet.
trousers Posted 23 January, 2013 Posted 23 January, 2013 [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:53 [/TD] [TD=class: chatmsgtext viewer_text][TABLE=width: 504] [TR] [TD][/TD] [TD]Comment From Guest Any indication as to how long the HNW's are preapred to fund the club? Are they unwilling to fund everything that is required hence the current cut backs?[/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:55 [/TD] [TD=class: chatmsgtext altcaster_text]Colin: PKF are making the decisions at the moment, obviously keeping PST/HNWs in the loop. Of course there is a limit to the generosity of spirit these HNW Pompey fans have shown, but we are confident an end to the process is in sight. The money they have put in so far will then be part of their investment.[/TD] [/TR] [/TABLE]
trousers Posted 23 January, 2013 Posted 23 January, 2013 He's not answered mine about the seemingly multiple destinations for the PPs yet. Yep, seems to be avoiding that one so far....
gaz Posted 23 January, 2013 Posted 23 January, 2013 Someone ask when the revised prospectus will be available. And what the current burn-rate of the club is, which has lead to so many players/staff leaving.
trousers Posted 23 January, 2013 Posted 23 January, 2013 [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:57 [/TD] [TD=class: chatmsgtext viewer_text][TABLE=width: 504] [TR] [TD][/TD] [TD]Comment From King Kanu How many pledges and conversions have you had? What's the total amount of money raised by supporters?[/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:59 [/TD] [TD=class: chatmsgtext altcaster_text]Colin: In broad terms we have around 2000 pledgers. So far we have converted about half of them. The majority of those who haven't yet converted we've spoken to tell us they are waiting on the outcome of the court case.[/TD] [/TR] [/TABLE]
Gingeletiss Posted 23 January, 2013 Posted 23 January, 2013 3:57 Comment From King Kanu How many pledges and conversions have you had? What's the total amount of money raised by supporters? 13:59 Colin: In broad terms we have around 2000 pledgers. So far we have converted about half of them. The majority of those who haven't yet converted we've spoken to tell us they are waiting on the outcome of the court case. Bloody Trousers
stevegrant Posted 23 January, 2013 Posted 23 January, 2013 [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:53 [/TD] [TD=class: chatmsgtext viewer_text][TABLE=width: 504] [TR] [TD][/TD] [TD]Comment From Guest Any indication as to how long the HNW's are preapred to fund the club? Are they unwilling to fund everything that is required hence the current cut backs?[/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:55 [/TD] [TD=class: chatmsgtext altcaster_text]Colin: PKF are making the decisions at the moment, obviously keeping PST/HNWs in the loop. Of course there is a limit to the generosity of spirit these HNW Pompey fans have shown, but we are confident an end to the process is in sight. The money they have put in so far will then be part of their investment.[/TD] [/TR] [/TABLE] So essentially, Portsmouth FC (2013) is already racking up hundreds of thousands of pounds worth of debt before they've even bought the club? Bravo, gentlemen
trousers Posted 23 January, 2013 Posted 23 January, 2013 [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]13:59 [/TD] [TD=class: chatmsgtext viewer_text][TABLE=width: 504] [TR] [TD][/TD] [TD]Comment From Mick Has PST/REL spoken with Tesco about the possibility of building a new supermarket and helping fund the re-development of FP ?[/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]14:00 [/TD] [TD=class: chatmsgtext altcaster_text]Colin: I am not aware of any specific discussions with any party yet. A superstore has long been mooted for the site, subject to the club getting significant benefit (ie a new or improved stadium) as a result.[/TD] [/TR] [/TABLE] Hmmm....chose his words carefully there....
trousers Posted 23 January, 2013 Posted 23 January, 2013 3:57 Comment From King Kanu How many pledges and conversions have you had? What's the total amount of money raised by supporters? 13:59 Colin: In broad terms we have around 2000 pledgers. So far we have converted about half of them. The majority of those who haven't yet converted we've spoken to tell us they are waiting on the outcome of the court case. Bloody Trousers Would you like a wet sponge for that?
Torres Posted 23 January, 2013 Posted 23 January, 2013 Do what? How on earth can the Trust come up with a meaningful business plan if they don't have a scooby how much PKF will sting the available funds for? Sorry but that's just unbelievable... Answer: They can't. So, the parachute payments will be paid directly to the council (one of their conditions)? I think the PL will have something to say about that. That something will be "No Chance, Sunshine."
trousers Posted 23 January, 2013 Posted 23 January, 2013 [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]14:02 [/TD] [TD=class: chatmsgtext viewer_text][TABLE=width: 504] [TR] [TD][/TD] [TD]Comment From Dan why has this taken so long. if the pst were ready to take over at the last court case 15th of jan or whenever it was was did the pst welcome the adjournment weve all read the statement which says it gives them more time to convert pledges but if theres enough money there surely this is contridictiong what they said previously[/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] [TABLE=width: 576] [TR] [TD=class: chatmsgtime, bgcolor: #F6F6F6]14:04 [/TD] [TD=class: chatmsgtext altcaster_text]Colin: I'm not sure of your logic entirely here. PST were 'ready' on December 15. The issue was between our property partner and PKF. At the time it was very frustrating. However, the pause may well have worked to PFC's advantage as it is allowing different approaches to emerge which we feel are better for the club in the long run.[/TD] [/TR] [/TABLE]
stevegrant Posted 23 January, 2013 Posted 23 January, 2013 I thought Colin said he was going to answer every question. I don't think he's actually answered any of them yet.
View From The Top Posted 23 January, 2013 Posted 23 January, 2013 Colin has previously said that they conversion rate is about 55%.
trousers Posted 23 January, 2013 Posted 23 January, 2013 I thought Colin said he was going to answer every question. I don't think he's actually answered any of them yet. ^ This
Chez Posted 23 January, 2013 Posted 23 January, 2013 He's not answered mine about the seemingly multiple destinations for the PPs yet. likewise. I'm also interested to know how £4m of parachute payments could have been initially overlooked. I mean how robust (boy does he like using that totally meaningless word) can the business plan be if an amount like that has been missed. What else has been missed, the £8.5m to be paid to the players? The £1.4m to be paid back to PCC? The amount loaned recently by the HNW individuals? The £2m to PKF? He doesn't even know how much the CVA agreement is FFS. I know its a paltry sum that the creditors are being given but you'd think the PST might know what it is.
Gemmel Posted 23 January, 2013 Posted 23 January, 2013 Why was the case adjourned.... Colin: The case was adjourned because the judge saw benefit in the discussions that had started continuing LMFAO. Nothing to do with the fact that the person going to buy it pulled out??????????????? There is spin and then there is bull****.
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