Jump to content

Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella
in Golden Posts

 Share

Recommended Posts

Guided Missile

Guided Missile

Posted
Posted
OMG! Not sure if its been on here yet but there's a letter from this bloke on pompeyonline. He actually uses the phrase 'football first philosophy.' I'm going to die laughing.

Who posted it?

Wibble

Wibble

Posted
Posted

News from court - Portsmouth have agreed that Sol is due 1.6m plus interest but his lawyers say he will defer till they are out of admin.

Weston Saint

Weston Saint

Posted
Posted

Campbell v PFC case agreed. PFC agree thety owe Campbell £1.6m plus £50,000 interest.

 

Campbell has agreed to defer settlement until the club come out of Administration

 

On that basis I assume he will be a "football Creditor" and be paid in full.

dronskisaint

dronskisaint

Posted
Posted
News from court - Portsmouth have agreed that Sol is due 1.6m plus interest but his lawyers say he will defer till they are out of admin.

 

So what's that - £85.6 million & counting.....:p

Clapham Saint

Clapham Saint

Posted
Posted

"But the player and administrator Andrew Andronikou have agreed that the debt will not have to be repaid until Pompey finds a buyer."

 

What a load of sh1te.

 

The moratorium (freeze on the dbets) means that the debt is a claim in the administration and would not be paid now anyway.

 

So in effect they have agreed to comply with the law/rules already in place. Well done.

hypochondriac

hypochondriac

Posted
Posted
"But the player and administrator Andrew Andronikou have agreed that the debt will not have to be repaid until Pompey finds a buyer."

 

What a load of sh1te.

 

The moratorium (freeze on the dbets) means that the debt is a claim in the administration and would not be paid now anyway.

 

So in effect they have agreed to comply with the law/rules already in place. Well done.

You have returned! Any comment on the current affairs?

Doctoroncall

Doctoroncall

Posted
Posted

I see some of the skates are getting excited (sorry deluded) from 606, for example:

 

comment by LincolnSaint (U13801258)

posted 16 Hours Ago

 

Can I ask a genuine question (not wumming) I dont understand why they would buy Pompey. I can understand it if you guys stay up (if you dont get the points deduction I genuinely believe that you will) then the club might be a half decent investment opportunity. But if you end up next season in the championship there are more attractive clubs to buy (probably cheaper) such as Norwich, Cardiff, Leeds who all have a bigger fan base and more modern facilities. So whats in it for him as a Liverpool fan is the crux of my question.

-------------------

 

What you are looking at is potential for growth compared to how much you invest.

 

Liverpool would firstly cost a fortune to buy and then another fortune to pay off the debt those two plonkers have put on the club. Pompey are available for a lot less than that.

 

Then, they will be looking at the huge amount of space Pomepy own bang in the centre of a city on the south coast of England. They'll be looking at moving us to Horsea, building a new stadium with higher revenues and sponsorship. What they'll look to do with Fratton is build housing, supermarkets etc etc. That should cover the cost of the stadium after a few years. So, long term, it is a sound investment as long as its done properly.

 

Remember, we are bottomed out a bit in the property market. These chaps will be looking at a minimum of 5 years (financial cycles etc). Its encouraging that Investec are involved. They are a highly respected firm of Fund managers. And a big deal. They also sponsor a lot of sporting events in the UK (ashes, england games etc.)

 

So, what you are looking at Lincoln is speculation from a club bottomed out, rather than taking over a massive club like Liverpool, who need a lot of investment in playing staff (to stay as champ league challengers) and a much bigger stadium is requred.. And their debt is huge.. ours isn't that bad in comparison, although it is all relevent..

 

These people will be looking to increase their equity values once they have invested. The only way to do that with Pompey is to Build a new stadium and develop the old land (great for the fans) and in most probability, have a stable Premiership team at some point. (great for us again..)

Matthew Le God

Matthew Le God

Posted
Posted
what are they in for now???

 

Likely to just be the formalities of rubber stamping the administration. Even though the HMRC were happy with it, no matter what it still had to go back to court.

sidthesquid

sidthesquid

Posted
Posted
Likely to just be the formalities of rubber stamping the administration. Even though the HMRC were happy with it, no matter what it still had to go back to court.

 

Dotting t's and crossing i's probably

S-Clarke

S-Clarke

Posted
Posted

from a skate on their MB's -

''Hi all,

 

Been asked if I can clarify the situation regarding the exclusivity, the administrator and the £3 million bond so I've made a couple of phone calls in between my work for you.

 

As I said, Andronikou has already met some of the other people working on this deal, and is meeting Rob Lloyd tonight at the Liverpool game. The £3 million bond has been paid and is in the system with the solicitors. Exclusivity starts from tomorrow morning.

 

A lot of things are happening just now, so let's just calm it and let things happen, and see where we are in a couple of weeks once the exclusivity deal is done and we see where we are. Things are looking hopeful though.''

sounds more and more like a pinnacle-esque effort as the day goes on. The same poster has also had a ''meeting'' with the proposed buyers, as is very encouraged by what they have to offer.

 

I'm sorry, but any buyer with any credibility at all does not go having meeting's with fans. I think we found that out - they may have the best interests at heart, but are very often skint.

 

Markus and Nicola just did the deal, didn't involve fans and i also don't think they paid exclusivity. That's what happens when you have the money, you can get a deal done without having to go through weeks and weeks of tosh..

JackFrost

JackFrost

Posted
Posted
Likely to just be the formalities of rubber stamping the administration. Even though the HMRC were happy with it, no matter what it still had to go back to court.

 

Possibly but I'd be suprised if HMRC didn't further pursue the WUO. . .

Matthew Le God

Matthew Le God

Posted
Posted

1) Pinnacle/Tony Lynam/Michael Fialka last summer wrote a very similar letter to this...

 

 

Dear Portsmouth Supporter

 

I am writing to you to outline our plans for Portsmouth Football Club.

 

I believe that the Club’s previous management team has lost the support and confidence of a wide body of supporters. Moreover, we believe there has been a breakdown in communication between the Football Club and its supporters. The Club’s fortunes, both commercially and on the field of play have also deteriorated. This has come against a backdrop where the previous Boards have failed to raise any new equity investment monies for a period of in excess of 5 years.

 

We believe that if the Pompey are to be put back on the road to success, significant changes need to be made to the strategy and operations of the business, in order to revitalise and re-establish Portsmouth as a Football Club that is genuinely capable of sustained success on and off the field of play.

 

I am pleased to have been able to bring together a management team comprising a blend of exceptional business people; highly committed fans; and experienced football business executives. Together, we share the philosophy and motivation required to “give” the Club back to the City of Portsmouth and its supporters.

 

This document spells out briefly, as far as we can at this stage, our proposed strategy to achieve a renewed unity of purpose and mutual trust amongst everyone connected with the Club. Our aim is to deliver the success that all supporters and shareholders and indeed all other stakeholders rightly demand and deserve. I summarise briefly below its core components and the philosophy of our approach.

 

• As a priority, we are seeking to establish an open, inclusive and interactive system of communication with our stakeholders The new Board of Portsmouth City Football Club Limited will exercise overall financial and operational control over Portsmouth Football Club and will be responsible for ensuring that the governance of the Company is both proper and effective. The Directors will be held fully accountable for their actions and will ensure transparency in all of the Company’s dealings. The proposed new Directors will comply fully with their obligations as Directors of a limited company. We believe there are several potential new investors who are fans and are genuinely interested to invest in the Club, but who were categorically unwilling to do so while the previous Directors remained in place. We also believe that ownership of the Club should remain widely spread amongst fans.

 

• Our aim is to put at the Football Manager’s disposal the best facilities and resources to enable him to develop a playing squad capable of delivering football success; adoption and implementation of a Football First philosophy.

 

• We do not merely intend to achieve a speedy return to the Premiership. As we explain in this document, our objective is to build the infrastructure, management team and playing squads necessary for sustained football and business success. Such a plan has a substantial cost and without access to the financial and other proprietary business data of the Company, and a thorough analysis of that information, together with a knowledge of the prospects of an appeal against the 9 point deduction, it is impractical for us to suggest precisely the level of investment required to achieve our objectives. However, we would propose to keep all shareholders and fans alike fully informed of the results of our analysis once we had completed such a review.

 

• We also discuss in this document the characteristics that single out Portsmouth Football Club as a family orientated, community-based institution. Within the bounds of sound commercial principles we intend to introduce ticket pricing and related initiatives to recognise these factors.

 

I hope you will agree with our aims to partner with the Club’s supporters to recreate a strong team and commercial business. I believe that the supporters are the lifeblood of the Club and their relationship with us should be a strong, long term and special bond. To this end we will be discussing with supporter representatives how they can be represented at board level. I look forward to sharing with you the success I believe we can bring to Portsmouth Football Club.

 

Signed

 

Rob Lloyd

 

2) They appeared on Sky Sports News and sent letters to fans on fan forums before talking to the administrator.

 

3) They claimed to have large backers that they were representing that wanted to remain anonymous, yet their own business background was dubious to say the least.

 

History is repeating, just 13 miles further down the M27.

rpb

rpb

Posted
Posted

sounds more and more like a pinnacle-esque effort as the day goes on. The same poster has also had a ''meeting'' with the proposed buyers, as is very encouraged by what they have to offer.

 

I'm sorry, but any buyer with any credibility at all does not go having meeting's with fans. I think we found that out - they may have the best interests at heart, but are very often skint.

 

It does sound very Pinnacle-esque but if they have paid up £3m for exclusivity then perhaps they do mean business...

Guided Missile

Guided Missile

Posted
Posted
1) Pinnacle/Tony Lynam/Michael Fialka last summer wrote a very similar letter to this...

I think you'll find it was contained in this document. I like to call it a roadmap to administration and relegation. They tends to happen when you put football first and economics last...

Weston Super Saint

Weston Super Saint

Posted
Posted
It does sound very Pinnacle-esque but if they have paid up £3m for exclusivity then perhaps they do mean business...

 

Hmmmmm.

 

Yet Pinnacle paid for exclusivity - via Leon Crouch - and they turned out to mean business didn't they?

Fowllyd

Fowllyd

Posted
Posted
from a skate on their MB's -

''Hi all,

 

Been asked if I can clarify the situation regarding the exclusivity, the administrator and the £3 million bond so I've made a couple of phone calls in between my work for you.

 

As I said, Andronikou has already met some of the other people working on this deal, and is meeting Rob Lloyd tonight at the Liverpool game. The £3 million bond has been paid and is in the system with the solicitors. Exclusivity starts from tomorrow morning.

 

A lot of things are happening just now, so let's just calm it and let things happen, and see where we are in a couple of weeks once the exclusivity deal is done and we see where we are. Things are looking hopeful though.''

sounds more and more like a pinnacle-esque effort as the day goes on. The same poster has also had a ''meeting'' with the proposed buyers, as is very encouraged by what they have to offer.

 

I'm sorry, but any buyer with any credibility at all does not go having meeting's with fans. I think we found that out - they may have the best interests at heart, but are very often skint.

 

Markus and Nicola just did the deal, didn't involve fans and i also don't think they paid exclusivity. That's what happens when you have the money, you can get a deal done without having to go through weeks and weeks of tosh..

 

Oh dear, oh dear. Time will tell and all that, but this really does look frighteningly* like Pinnacle - the sequel. Not just all the hype, meetings with supporters and so forth, but that bit about the £3M being 'in the system with the solicitors' - when, if ever, will it find its way to the administrators?

 

And does nobody at that benighted end of the M27 think it odd that this saviour has met some supporters before leaving as much as a calling card with Andronikou?

 

* On second thoughts, maybe 'frighteningly' isn't quite the word. How about 'hilariously'? Yes, I think that works much better.

OldNick

OldNick

Posted
Posted
I still think they're toast.
Oh FFS somebody who works in the trade is saying that!!!! How can I go against Clapham who I know is experienced about these things.All I need is Bucks saint to wade in and say the same and Im in a quandery.

Pompey will get out of it.

bridge too far

bridge too far

Posted
Posted
Oh FFS somebody who works in the trade is saying that!!!! How can I go against Clapham who I know is experienced about these things.All I need is Bucks saint to wade in and say the same and Im in a quandery.

Pompey will get out of it.

 

No longer funneh Nick - in fact a bit tedious TBH

OldNick

OldNick

Posted
Posted
No longer funneh Nick - in fact a bit tedious TBH

It is a superstition now BTF, a bit like not mentioning Macbeth if you are an actor.

Just watch the bad news stories come out of Pompey now

FMPR

FMPR

Posted
Posted
Hi all,

 

Just a heads-up as I've been asking about the posting made by GM Food made in this thread. Basically, I was told that, as far as they knew, Rob Lloyd wouldn't have written anything like this and no 'document' was known about, so it was extremely doubtful that it would have come from him.

 

So, I'd be extremely doubtful about this, especially after a bit of investigation has shown that the user GM Food seems to be based....in S*uthampton. Amazing what you can find out.

 

From the owner of the site where the letter came from

OldNick

OldNick

Posted
Posted
From the owner of the site where the letter came from

Who did the digging Clouseau?

Nice to see your return, you haven't been on gardening leave by any chance?

FMPR

FMPR

Posted
Posted
Who did the digging Clouseau?

Nice to see your return, you haven't been on gardening leave by any chance?

 

Nope still enjoying beating your lot 4-1 thanks. Even though we had a weakened team as well just the same as you

aintforever

aintforever

Posted
Posted
The £3 million bond has been paid and is in the system with the solicitors.

 

I'm not exactly business brain of Britain but, surely it's either been paid OR it's with their solicitors?

Saint_John

Saint_John

Posted
Posted
It's in Court 17 at 10.30 before Lewison

 

Should anything be made of the change of Judge from last time

Justice Norris -> Justice Lewison.

 

Is it normal to change the Judge?

Or does it imply there are no surprises from HMRC and it is only technical issues ?

Chin Strain

Chin Strain

Posted
Posted
Nope still enjoying beating your lot 4-1 thanks. Even though we had a weakened team as well just the same as you

 

Not quite as 'weakened' as it should have been though. Imagine if you'd actually tried to avoid administration by 'gasp' selling players, rather than signing players.

the colonel

the colonel

Posted
Posted
Nope still enjoying beating your lot 4-1 thanks. Even though we had a weakened team as well just the same as you

 

A weakened team two divisions below you.....congratulations.......plank

 Share
Go to topic listing
×
×
  • Create New...