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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella
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Dark Munster

Dark Munster

Posted
Posted
See that 'Appy' is not well liked by the Blackburn Faithful

 

Shame he was such a success at Pompey (13 wins in 51?)

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[TD]WBA[/TD]

[TD]1[/TD]

[TD]0[/TD]

[TD]1[/TD]

[TD]0[/TD]

[TD]1.00[/TD]

[/TR]

[TR]

[TD]Cheats FC[/TD]

[TD]51[/TD]

[TD]13[/TD]

[TD]11[/TD]

[TD]27[/TD]

[TD]0.98[/TD]

[/TR]

[TR]

[TD]Blackpool[/TD]

[TD]12[/TD]

[TD]2[/TD]

[TD]8[/TD]

[TD]2[/TD]

[TD]1.17[/TD]

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[TD]Blackburn[/TD]

[TD]14[/TD]

[TD]4[/TD]

[TD]4[/TD]

[TD]6[/TD]

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Brilliant manager, brilliant. :lol:

Dark Munster

Dark Munster

Posted
Posted

Mind you, compared to our friend Guy, he does look rather good...

 

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hypochondriac

hypochondriac

Posted
Posted

Here is a list of amusing reasons from POL why the fans takeover is unique.

 

1. We are the biggest (most expensive) fan takeover attempt. Swansea Trust raised £500,000 I think.

2. We are probably the biggest club to attempt community ownership so far (given where Swansea were when their Trust took over)

3. The composition of our ownership is unique in terms of % owned by Trust to HNW/Presidents

4. We had the stiffest and nastiest opposition to the takeover

5. We are Pompey.

Crab Lungs

Crab Lungs

Posted
Posted
Here is a list of amusing reasons from POL why the fans takeover is unique.

 

Grrrr. Usual arrogant tripe. Why are they such a bunch of c()nts? Sometimes, it's not funny reading their stupidity, it's just irritating. And ffs, singing to Leyton Orient about their lack of history... f()Cking hell, I'd rather have no history than one chequered with robbing charities, old women and the taxpayer.

 

F()ck off, you c()nts.

suewhistle

suewhistle

Posted
Posted
Here is a list of amusing reasons from POL why the fans takeover is unique.

 

3. The composition of our ownership is unique in terms of % owned by Trust to HNW/Presidents

 

I'm just unwinding with a cup of tea after getting in at 4 in the morning. Unfortunately I hadn't switched the 'puter off, so I've just had bit of a splutter...

dronskisaint

dronskisaint

Posted
Posted
Grrrr. Usual arrogant tripe. Why are they such a bunch of c()nts? Sometimes, it's not funny reading their stupidity, it's just irritating. And ffs, singing to Leyton Orient about their lack of history... f()Cking hell, I'd rather have no history than one chequered with robbing charities, old women and the taxpayer.

 

F()ck off, you c()nts.

 

A Crab Lungs mini rant is a good way to start the day....

 

NB History goes all the way back tp PtahFC 2010 (in administration)...deluded f*ckwits!

Chez

Chez

Posted
Posted

what exactly is the PST HNW split coming to these days? With £11.4M owed to the players, won't they really own the club?

Weston Super Saint

Weston Super Saint

Posted
Posted
what exactly is the PST HNW split coming to these days? With £11.4M owed to the players, won't they really own the club?

 

It's hard to say really!

 

Fag packet maths :

 

Ground = £3m[lol], funded by HNW & PCC - circa 50% each?

Chinny = £2m? - funded by PPs

King Kanu = £3m - funded by PPs

Other players = £8m - funded by PPs

CVA = £0.5m - funded by fans?

 

Oh, and PCC will be repaid by PPs.

 

So, I guess the overwhelming majority of the club / debts will be paid by the Parachute Payements which will technically make the Premium League the overwhelming majority owner???

rallyboy

rallyboy

Posted
Posted

One small sentence sums up this gig.

 

It's not a fan buyout.

 

They told us Avram was a fantastic manager, but his pompey record is appalling.

They announced that Cotterill was a future England coach, his record was woeful.

They were sure that Appleton was an international manager in waiting - yet he is ushering Blackburn down the table.

 

So it's the same old spin, pity about the facts.

 

We didn't believe any of that, and we don't buy the fan ownership myth.

If the fans get their way, their club will be owned and controlled by property developers.

 

Don't believe the hype.

suewhistle

suewhistle

Posted
Posted
Sorry Sue but I'm with Crab on this one.

 

Oh, alright, I was feeling mellow at the time. I'm now up, ready with another cup of tea for my morning chortle (since they won't allow s******).

dubai_phil

dubai_phil

Posted
Posted

Oh and of course down in lala land I see that those other pesky bidders have bowed to the bestest and obviously given up completely.

 

Or should I not rely on #factless for updates?

Viking Warrior

Viking Warrior

Posted
Posted

Looking at the history of the skates seems like history is repeating itself

 

The first major football club in Portsmouth was Royal Artillery F.C. The club lost its standing after being suspended by the Football Associatiion for having violated their amateur status by taking players away for a week’s special training before an Amateur Cup-tie. Out of this debacle, it was decided to form a professional club called Portsmouth FC, although this name had earlier been used for a team formed by the renowned local architect Arthur Cogswell.

 

And then a fans based group took over

The scene of the 1898 formation was the office of Alderman J.E. Pink, solicitor of John Brickwood, the owner of local Brickwoods Brewery. He called together a group of local enthusiasts, amongst whom were G. Lewin Oliver, headmaster of a prominent local school, and W. Wigginton, a former Royal Engineers Warrant officer, to form a syndicate and share their resources to buy a patch of land in Fratton on which to build a football ground. Fratton then was agricultural land off Goldsmith Avenue in the heart of the city.

 

So the fans in 2013 plan to follow the footsteps of their predecessors . Ha Bloody Ha

Shrek

Shrek

Posted
Posted

I see the plucky phew managed a point away to the league leaders today. It's the hope that will kill them. That, and the 10 point deduction of course ;)

The9

The9

Posted
Posted
Mind you, compared to our friend Guy, he does look rather good...

 

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[TD]Cheats FC[/TD]

[TD]22[/TD]

[TD]2[/TD]

[TD]6[/TD]

[TD]14[/TD]

[TD]0.55[/TD]

[/TR]

[/TABLE]

 

Now be fair, Whittingham hasn't had the benefit of picking and choosing from every uncontracted football player in existence for the first couple of months of the season until the August parachute money was spent.

Lazlo78

Lazlo78

Posted
Posted
Now be fair, Whittingham hasn't had the benefit of picking and choosing from every uncontracted football player in existence for the first couple of months of the season until the August parachute money was spent.

 

Actually his W2 D4 L2 with a +1 GD (7-6) over the last 8 games isn't too shabby!

itchen

itchen

Posted
Posted

Pompey have the same points total as we do and have won the same number of games. Of course, they have played nine more games than us.

rallyboy

rallyboy

Posted
Posted

UnAppy and Blackburn aren't safe - he's only a handful of points from getting two clubs relegated in the same season.

 

At least he didn't make it up when he claimed pompey had the lowest wagebill in the division.

And we'll always remember him for The Slaughter in Gibraltar holiday.

St Jim

St Jim

Posted
Posted
UnAppy and Blackburn aren't safe - he's only a handful of points from getting two clubs relegated in the same season.

 

Make that 3 clubs. Blackburn, Blackpool (who are on the same points as Blackburn) and the cheats.

St Jim

St Jim

Posted
Posted
UnAppy and Blackburn aren't safe - he's only a handful of points from getting two clubs relegated in the same season.

 

Make that 3 clubs. Blackburn, Blackpool (who are on the same points as Blackburn) and the cheats.

Crab Lungs

Crab Lungs

Posted
Posted

He's a right pr1ck.

 

When he first went to the skates he gave it the false Adkins impression, trying to be a Mr Thoughtful, Mr Nice Guy and look as if he knew what he was doing.

 

Within a couple of months, he'd reverted to the same personality every other Portsmouth manager has had; whinging, b1tching and moaning - which of course the phew rallied behind and lapped up his plucky troops mantra.

 

They soon got wise to him. Well, most did as soon as he left them. Like everyone else who deserts them, he went from glorious leader of men to useless loser in seconds.

 

I was reading the Blackburn forums today... they aren't very impressed with him at all :lol: It seems his brand of anti-football is seriously damaging his reputation and often-coined title of "best young coach in England".

JackanorySFC

JackanorySFC

Posted
Posted

Well well well, Harris' group have made a new £6.3m offer for Fratton Park according to today's Times.

 

Story below:

 

The battle to assume control of Portsmouth took a new twist yesterday when it emerged that Keith Harris’s consortium has made a £6.3 million bid for Fratton Park, a figure more than double that offered by the Pompey Supporters’ Trust (PST).

In a letter to PKF, the club’s administrator, dated March 1 that has been passed to The Times, the Harris group says that the cash offer “will take the form of an immediate payment, and will not be dependent on any deferred consideration”. PKF is believed to have acknowledged the receipt of the letter but, nearly three weeks later, has given no indication as to whether the offer is under serious consideration.

Balram Chainrai, the former owner, claims that the club owe him £12 million, which is secured by a fixed charge on Fratton Park through his Portpin company. PST has asked for an independent valuation of the stadium and will go before the High Court next month to try to force through the sale to the PST for £3 million. Portpin is believed to be ready to release its security on the stadium if PKF takes up the Harris offer.

The Football League has said that it will consider only the PST offer but the Harris group’s eagerness to reopen the deal may complicate matters. Harris, in his role as chairman of Seymour Pierce, the investment bank, has been involved with the club on and off during the recent period of instability, which has caused concern among the fans.

Harris and his fellow investors, Alan Hitchins and Pascal Najadi, have embarked on a charm offensive by offering the PST 15 per cent of the club’s shares free of charge and a seat on the board. They have promised a discount of 10 per cent toseason ticket-holders and claim that their cash offer will eradicate the club’s debt and allow the team to compete in the transfer market as soon as the club come out of administration. The Harris bid also pledges to pay back donations to the PST in full.

It may be a difficult sell. Najadi has infuriated a section of Portsmouth fans by taking legal action against a blogger and there are fears that Harris’s proposed deal for Fratton Park is just another way for Portpin to squeeze more money of the club.

Harris denies this. “I have had involvement in the club over the years,” he said. “I know its potential. I can get it running properly.” The former Football League chairman has indicated that he will take a hands-on role if the bid is successful.

The financial package proposed by Harris offers significant advantages to creditors and will place pressure on PKF and the Football League — neither of whom could be reached for comment last night — to open up the bidding process.

ericofarabia

ericofarabia

Posted
Posted
Well well well, Harris' group have made a new £6.3m offer for Fratton Park according to today's Times.

 

Story below

 

Harris and his fellow investors, Alan Hitchins and Pascal Najadi, have embarked on a charm offensive by offering the PST 15 per cent of the club’s shares free of charge and a seat on the board. They have promised a discount of 10 per cent toseason ticket-holders and claim that their cash offer will eradicate the club’s debt and allow the team to compete in the transfer market as soon as the club come out of administration. The Harris bid also pledges to pay back donations to the PST in full.

 

Harris denies this. “I have had involvement in the club over the years,” he said. “I know its potential. I can get it running properly.” The former Football League chairman has indicated that he will take a hands-on role if the bid is successful.

The financial package proposed by Harris offers significant advantages to creditors and will place pressure on PKF and the Football League — neither of whom could be reached for comment last night — to open up the bidding process.

 

Now I may be completely wrong, but how does 6.3 mill wipe out the clubs debts which even taking into account the pitiful amount they've already cheated it down to?

 

And even better open the floodgates for Riqleme, Messi and Ronaldo amongst others to be snapped up?

 

Lessons really have been learnt - NOT.

FMPR

FMPR

Posted
Posted
Now I may be completely wrong, but how does 6.3 mill wipe out the clubs debts which even taking into account the pitiful amount they've already cheated it down to?

 

And even better open the floodgates for Riqleme, Messi and Ronaldo amongst others to be snapped up?

 

Lessons really have been learnt - NOT.

 

It wont, its just to keep Chainrai in control of Fratton Park

dubai_phil

dubai_phil

Posted
Posted
Well well well, Harris' group have made a new £6.3m offer for Fratton Park according to today's Times.

 

Story below:

 

The battle to assume control of Portsmouth took a new twist yesterday when it emerged that Keith Harris’s consortium has made a £6.3 million bid for Fratton Park, a figure more than double that offered by the Pompey Supporters’ Trust (PST).

In a letter to PKF, the club’s administrator, dated March 1 that has been passed to The Times, the Harris group says that the cash offer “will take the form of an immediate payment, and will not be dependent on any deferred consideration”. PKF is believed to have acknowledged the receipt of the letter but, nearly three weeks later, has given no indication as to whether the offer is under serious consideration.

Balram Chainrai, the former owner, claims that the club owe him £12 million, which is secured by a fixed charge on Fratton Park through his Portpin company. PST has asked for an independent valuation of the stadium and will go before the High Court next month to try to force through the sale to the PST for £3 million. Portpin is believed to be ready to release its security on the stadium if PKF takes up the Harris offer.

The Football League has said that it will consider only the PST offer but the Harris group’s eagerness to reopen the deal may complicate matters. Harris, in his role as chairman of Seymour Pierce, the investment bank, has been involved with the club on and off during the recent period of instability, which has caused concern among the fans.

Harris and his fellow investors, Alan Hitchins and Pascal Najadi, have embarked on a charm offensive by offering the PST 15 per cent of the club’s shares free of charge and a seat on the board. They have promised a discount of 10 per cent toseason ticket-holders and claim that their cash offer will eradicate the club’s debt and allow the team to compete in the transfer market as soon as the club come out of administration. The Harris bid also pledges to pay back donations to the PST in full.

It may be a difficult sell. Najadi has infuriated a section of Portsmouth fans by taking legal action against a blogger and there are fears that Harris’s proposed deal for Fratton Park is just another way for Portpin to squeeze more money of the club.

Harris denies this. “I have had involvement in the club over the years,” he said. “I know its potential. I can get it running properly.” The former Football League chairman has indicated that he will take a hands-on role if the bid is successful.

The financial package proposed by Harris offers significant advantages to creditors and will place pressure on PKF and the Football League — neither of whom could be reached for comment last night — to open up the bidding process.

 

orly.gif

 

Why are we the only ones who saw this coming?

dubai_phil

dubai_phil

Posted
Posted
Just as the thread was beginning to falter.......it's gonna be a fun couple of weeks

 

The last few weeks in my opinion have simply shown up Naivety on behalf of the PDT.

 

When EVERYTHING hinges on their bid being accepted the lack of work on the politics and legal issues and the PR management just seemed amateur bordering on Arrogant.

 

Is it REALLY the Benefits Society Mindset? Or was it blind optimism.

 

I went to a Garage this morning and asked to buy the New Aston Martin.

They told me the price, but I said I was British and as it was a British Car and as I am a (near) legend in the world I would be the best owner to take the car forwards.

They told me my $5,000 would not pay for the Insurance, let alone the car but I said do you know who I am? I will take you to court to get the car because I am the bestest.

Nobody else should ever drive it. And anyone who offers you more is a lying cheat.

 

Yeah total bullkrap factually, commercially and legally.

 

The LAST thing Harris needs to do to totally screw the PDT?

 

Pay the 6.3mil into an Escrow account with all the draft contracts and place them before the Judge in Court and offer to sign them in front of him.

 

Game over

Chez

Chez

Posted
Posted

And here is the fuel for Portpin's solicitor arguement "Why should PKF be able to sell notarfkrap to PST for £3.1m when there is another offer on the table to buy the exact same asset for £6.3m"

dubai_phil

dubai_phil

Posted
Posted
Haven't PDT exchanged contracts or something with Trev though - and wouldn't that now make it difficult to consider other bid?

 

The issue is about Chinny & his money. PKF made a decision not to hold discussions with any other bidders HOW long ago?

 

The point will be about what PKF have done, IF Chinny (oops sorry Harris) has good legal advice and a trail of evidence that some form of "negligence" has occurred, PDT may still get the club but PKF could be in real trouble.

 

Which would mean that every possible angle will be explored as PKF will not want to get sued

 

Especially the contract with PDT that is CONDITIONAL on the court valuation being accepted...

 

So there are two possible "ways out" for Tricky Trev

EastleighSoulBoy

EastleighSoulBoy

Posted
Posted
And here is the fuel for Portpin's solicitor arguement "Why should PKF be able to sell notarfkrap to PST for £3.1m when there is another offer on the table to buy the exact same asset for £6.3m"

 

Us nutjobs are 99.99999999999999999999999999999% sure that the offer is total horlicks and is put up to get BC back in. Even those old duffers at the FL feel this, hence them declaring the PST/PDT the only offer they'll consider. However, what if this works? That Harris gets this £6.3M offer accepted? Will the 'money' only be a paper movement or a loan from Portpin? How long before Harris defaults on the repayments and Portpin claw it all back? Will BC's debenture have then increased by £6.3M?

 

Lots more to think about for us here at nutjob Central.

ericofarabia

ericofarabia

Posted
Posted

I admit to not paying much / any attention to all the political in fighting at Fortress Fatpipes and have completely lost track of who is who amongst The PKF, PDT and PST.

 

I'm sure there are more as well.

 

Whose side if any than his own is Chinny on?

St. Neil

St. Neil

Posted
Posted

Big feature on the PST next week on the Late Kick Off show, last night they had Beattie commentating on their highligths saying how plucky they are still.

Doctoroncall

Doctoroncall

Posted
Posted

The court case should be a lot of fun, it's a shame it's so far away. I suppose it leaves opportunities for counter strikes or are the PDT going to remain silent on this one?

Ken Tone

Ken Tone

Posted
Posted
The court case should be a lot of fun, it's a shame it's so far away. I suppose it leaves opportunities for counter strikes or are the PDT going to remain silent on this one?

 

Well yes and no. Delayed gratification is best.

 

Besides, by that time the FL will have no possible excuse to take the points off this season if the trust are successful, and surely will have to make them start in L2 on -10?

FMPR

FMPR

Posted
Posted
Well yes and no. Delayed gratification is best.

 

Besides, by that time the FL will have no possible excuse to take the points off this season if the trust are successful, and surely will have to make them start in L2 on -10?

 

What apart frotm eh fact the League say the points will come off in the 2012/13 season as part of the golden share conditions?

goneawol

goneawol

Posted
Posted
What apart frotm eh fact the League say the points will come off in the 2012/13 season as part of the golden share conditions?

 

Wasn't that eight months ago?

Wes Tender

Wes Tender

Posted
Posted

http://www.portsmouth.co.uk/sport/pompey/pompey-4-southampton-1-1-4906489

 

Scraping the bottom of the barrel or what? Dredging up a victory for the blue phew from eight years ago, just to comfort themselves on past glories when the weekend saw us beat Liverpool comprehensively, whereas they struggled to get a draw against third division Doncaster.

 

Treasure the memories, Skates, because you lot aren't going to be seeing the likes of it again in your lifetimes.

BigShadow

BigShadow

Posted
Posted

In other news....I see Watford have avoided a points deduction for financial irregularities as the persons involved are no longer at the club.....

 

"It is clear from the decision of the Football Disciplinary Commission that the offences which the club has been found guilty of were committed by one or two individuals who are no longer associated with the club - and without the knowledge of the full Board of the club," read a statement on Watford's official website.

 

I wonder how Luton feel.......and does this offer any hope for the PDT?

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