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Pompey Takeover Saga


Fitzhugh Fella

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no need for that, ground rock solid in Southsea. All they had to do to not play the game was not turn on undersoil heating. But do they have any? I thought the Premiership demanded it. The fact is though that they needed the game on. Policing costs are small as football clubs only pay for officers used inside the stadium. Not a huge requirement for that with Hull probably bringing 600 down.

 

Maybe the PL expects it. From here:

 

http://www.guardian.co.uk/football/2009/jan/12/portsmouth-fulham-premier-league

 

Did they ever get fined, I wonder?

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According to http://www.transfermarkt.co.uk/en/portsmouth-fc/startseite/verein_1020.html

 

Their squad is worth £23m, but that includes a figure of £2.6m for the Albatross Tal Ben Haim. Looking through the figures, they all look unrealistic.

 

That place values Adam Lallana at £800k and Dave Kitson at £1.8m.

 

Enough said.

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I thought it was installed, but we haven't bothered to buy the boilers (or some such!).

 

Yep I think I remember that. Typical PL rules, you have to do 'X' (unless it too difficult, expensive or you dont really want to and choose one of our juicy loopholes).

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http://www.portsmouth-mad.co.uk/news/tmnw/hull_game_postponed_726701/index.shtml

 

A date for the fixture has yet to be rearranged but the ticket office is open until 1pm today if fans wish to claim a refund (although cash refunds are not available) but tickets bought for the game today will be valid for the rearranged date.

 

Wonder why they are not giving cash refunds and only a very short window to claim a refund!

 

Pompey's next (and possibly last) home game is against Ipswich and is due to be played on Valentine's Day.

 

Maybe they are finally getting it!

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http://www.portsmouth-mad.co.uk/news/tmnw/hull_game_postponed_726701/index.shtml

 

A date for the fixture has yet to be rearranged but the ticket office is open until 1pm today if fans wish to claim a refund (although cash refunds are not available) but tickets bought for the game today will be valid for the rearranged date.

 

Wonder why they are not giving cash refunds and only a very short window to claim a refund!

 

Pompey's next (and possibly last) home game is against Ipswich and is due to be played on Valentine's Day.

 

Maybe they are finally getting it!

 

Not sure how the refunds will work. They are not giving cash refunds. But I thought their tickets were cash only. Will they refund onto cards? How can they do that if their bank accounts are frozen?

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http://www.portsmouth-mad.co.uk/news/tmnw/hull_game_postponed_726701/index.shtml

 

A date for the fixture has yet to be rearranged but the ticket office is open until 1pm today if fans wish to claim a refund (although cash refunds are not available) but tickets bought for the game today will be valid for the rearranged date.

 

 

Why would you not claim a refund is their next home match ia possible their last?

 

Wonder why they are not giving cash refunds and only a very short window to claim a refund!

 

Pompey's next (and possibly last) home game is against Ipswich and is due to be played on Valentine's Day.

 

Maybe they are finally getting it!

 

 

Why would you not claim a refund is their next home match is possibly their last?

Edited by andysstuff
typo
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http://www.portsmouth-mad.co.uk/news/tmnw/hull_game_postponed_726701/index.shtml

 

A date for the fixture has yet to be rearranged but the ticket office is open until 1pm today if fans wish to claim a refund (although cash refunds are not available) but tickets bought for the game today will be valid for the rearranged date.

 

Wonder why they are not giving cash refunds and only a very short window to claim a refund!

 

Pompey's next (and possibly last) home game is against Ipswich and is due to be played on Valentine's Day.

 

Maybe they are finally getting it!

 

They are falling foul of English consumer law if they start putting restrictions on refunds. Customers are entitled to a refund within a 'reasonable' timeframe, not an arbitrarily short timeframe determined by the retailer.

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They are falling foul of English consumer law if they start putting restrictions on refunds. Customers are entitled to a refund within a 'reasonable' timeframe, not an arbitrarily short timeframe determined by the retailer.

 

So how will the Hull fans get their refunds? Or will Hull refund them? Does that mean Hull will have to ask for their money back from PFC?

 

Riiiiiiight

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They are falling foul of English consumer law if they start putting restrictions on refunds. Customers are entitled to a refund within a 'reasonable' timeframe, not an arbitrarily short timeframe determined by the retailer.

 

Normally you would assume they meant that the ticket office was only open till 1pm today but refunds can be had at a latter date when the office is open but this is pompey we are talking about.

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They are falling foul of English consumer law if they start putting restrictions on refunds. Customers are entitled to a refund within a 'reasonable' timeframe, not an arbitrarily short timeframe determined by the retailer.

 

Yes, I would think that Trading Standards would take a dim view of offering cash sales only... and then saying you can't have a cash refund on a cash purchase, as there will be no other method of effecting any refund.

 

Still doubt anything will happen to them, DFCSB.

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Voldermort was on Solent about an hour ago. Talked a fair bit of sense tbf but I'm sure he said something along the lines of:

 

"we aren't a big club like Southampton or others"

 

Anyone hear that?

 

if he said that the inbreds will be calling for his head and bring in Mourihino

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Voldermort was on Solent about an hour ago. Talked a fair bit of sense tbf but I'm sure he said something along the lines of:

 

"we aren't a big club like Southampton or others"

 

Anyone hear that?

 

 

Voldermort sticks out like a sore thumb at the moment. Not only is he competent, he's intelligent, measured and dignified.

 

Bring back Uncle Avram, the Skates don't deserve such a decent coach.

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They are falling foul of English consumer law if they start putting restrictions on refunds. Customers are entitled to a refund within a 'reasonable' timeframe, not an arbitrarily short timeframe determined by the retailer.

 

I dont like to give them the benifit of doubt but if they offered cash refunds and several thousand turned up asking for them they would be stuck as I doubt they would be able to have that much cash in the ticket office. I mean even in normal circumstances.

 

So maybe (benifit of doubt being given) they are offering DD card refunds but not cash?

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I dont like to give them the benifit of doubt but if they offered cash refunds and several thousand turned up asking for them they would be stuck as I doubt they would be able to have that much cash in the ticket office. I mean even in normal circumstances.

 

So maybe (benifit of doubt being given) they are offering DD card refunds but not cash?

 

But how can they fund this? Their bank accounts are frozen!

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Voldermort sticks out like a sore thumb at the moment. Not only is he competent, he's intelligent, measured and dignified.

 

Bring back Uncle Avram, the Skates don't deserve such a decent coach.

 

Agreed, he seems a good guy, too good for the Skates.

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AA quoted today as saying that liquidation isn't an option. If this is the case, the options left are administration, or an injection of funds?

 

this suggests that administration , again, is the likely outcome.

 

or have i got that wrong?

 

Of course its an option. To say it isn't, shows how much of a cr4p Administrator he is.

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What will happen if they go back into administration? Just another 10 point deduction?

 

Probably depends on the Redknapp case outcome.

 

They will get -10 for being in admin, another penalty for their second admin in a short period of time (can't remember if this is -8 or another -10), plus whatever they feel is appropriate for having a former owner/manager guilty of tax evasion (if the two of them are found guilty).

 

I think if the tax evasion case is guilty, then this would be a hefty penalty again, somewhere between 6 to 10 points.

 

So, my my maths, that's -24 to -30 points, enought to be relegated.

 

if they last that long

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Seems to be some doubt on here as to whether they can legally go into administration with the WUP still in place. Don't think that we have a concensus as yet.

 

They can go into admin to avoid the WUP - it's what they did last time. What I don't understand is how a company can go back into admin when they haven't even begun to clear the CVA from the previous admin.

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They can go into admin to avoid the WUP - it's what they did last time. What I don't understand is how a company can go back into admin when they haven't even begun to clear the CVA from the previous admin.

 

Ah yes - but they 'could' go into admin - IF they had the cashflow to support it (remember Chinnery bankrolled it last time) - but that's what they don't have.

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WUP aside - to enter administration, I thought that a Company requires appropriate permission from a court, after convincing it that there is an underlying business which is worth protecting from its creditors.

 

Absent any semblance of a solvent or going concern, then a court shouldn't permit the Company to bolt down that particular rabbit-hole.

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AA quoted today as saying that liquidation isn't an option. If this is the case, the options left are administration, or an injection of funds?

 

this suggests that administration , again, is the likely outcome.

 

or have i got that wrong?

 

Actually he is probably right.

In his role as Administrator of CSI.

He puts poopey into Liquidation then he will have utterly falied to return ANY monies to Chinny... The WRC rights ended up being a Debt not an asset, poopey gone for nothing players contracts torn up.

It's a career ender FAIL for Andy.

 

And Chinny's (or for that matter Roman's) mates may not be too happy with him either.

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But how can they fund this? Their bank accounts are frozen!

 

Because the funds are kept in a third party account for a certain amount of time - ie they sit in the bank account of the card processing merchant, such as streamline. Only after a period of time will they be transferred to the club's bank account.

 

My guess is that since the bank accounts were frozen - on the 3rd jan? - then the third party credit card merchant wouldn't have been able to deposit any money into the club's account anyway as frozen presumably means no deposits or withdrawals. Therefore any card refunds should be possible from the merchant and wouldn't have anything to do with the club.....

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Just to been chatting to a friend in Brum who has no interest in football but happened to put up on Facebook that picture of 'Arry in his new Spurs going away strip.. At the end of the chat I asked her "Guilty" or "not guilty". Guilty! ' she replied! As a treat I gave her a link to this thread and she gave a big chuckle when she saw how many pages there were... She's an internet veteran and knows just how informed experts on a particular subject can be, I'm sure she'll enjoy a dip into the archives and the many amusing, scurrilous and prescient posts there have been on here.

 

The more people know about their behaviour, the better...

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Because the funds are kept in a third party account for a certain amount of time - ie they sit in the bank account of the card processing merchant, such as streamline. Only after a period of time will they be transferred to the club's bank account.

 

My guess is that since the bank accounts were frozen - on the 3rd jan? - then the third party credit card merchant wouldn't have been able to deposit any money into the club's account anyway as frozen presumably means no deposits or withdrawals. Therefore any card refunds should be possible from the merchant and wouldn't have anything to do with the club.....

 

if the skate's account is frozen then they cannot claim any monies held at Streamline (or whoever). The sums will show as debits, or an untitled amount (not available) until a period of time elapses, up to 10 days on a debit card my bank told me, at which juncture they would cease to show as 'unavailable' and revert to the payee account.

 

This is why sometimes when paying by debit card and then drawing from an ATM afterwards, your balance in the account will show a figure higher than the balance available.

 

I hope I'm making sense here? :uhoh:

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Bishops Printers of Fratton do the programmes.

I am sure that as former club sponsors/directors, they would honour the Skates contract.

What I struggle with is their advertisement at the Chapel end. I know they do our programme but it spoils the St Marys match day experience.

 

You've got Clotese to thank for that. A Southampton family printers had printed our program for decades before NC decide to rip up the contract and hand it to a Portsmyth firm.

"He comes from italy, he ******* hates pompee" my ass.

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WUP aside - to enter administration, I thought that a Company requires appropriate permission from a court, after convincing it that there is an underlying business which is worth protecting from its creditors.

 

Absent any semblance of a solvent or going concern, then a court shouldn't permit the Company to bolt down that particular rabbit-hole.

 

I think it's the presence of a winding-up petition which means that dispensation has to be sought for the company to enter administration. Under normal circumstances, a business which becomes insolvent engages the services of insolvency practitioners. They in turn decide whether the business can continue to trade, in administration and thus protected from creditors, until a buyer can be found and a CVA agreed. If this is not considered to be possible (if, for example, there are no potential buyers, or if the business is losing money on day-to-day trading) then the business will simply be liquidated.

 

And it's this which makes it difficult to the point of impossible to see how Pompey can survive. There are no interested buyers (or at least none who would have sufficient funds) and the business is clearly trading at a loss and is unable to fund itself through a period of administration. Add to this the fact that they are constrained by the winding-up petition and would be unlikely to be able to convince a court that they are a going concern. Two years ago Chainrai was willing to fund their time in administration; this time he says he isn't.

 

They have one, forlorn, hope - that a highly wealthy individual emerges to buy them. Unless that happens, they'll be liquidated - maybe not today, maybe not tomorrow, but soon, and for the rest of their lives (to misquote the great Humphrey Bogart).

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15 days to go, 15 days to save nottarf krap

15 days , the c### with a bell, and a fish called Jo,

The'll never save Nottarf Krap

 

meh.

 

When they announce they have 48 hours to save the club, that's when we can start to take it seriously.

 

Chinny has the stadium it may be worth 2 or 3 mil and a lot of hassle.

 

Still think it will be a game of chicken, he'll sell up for that at one minute before they walk into Court, to some idiots who want to burn 8mil a year to keep that relic standing.

 

And who will run out of cash after 8 months in L1 with their -15 or more this season

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You've got Clotese to thank for that. A Southampton family printers had printed our program for decades before NC decide to rip up the contract and hand it to a Portsmyth firm.

"He comes from italy, he ******* hates pompee" my ass.

Completely untrue. Urban myth but then you will believe anything to suit your dopey agenda.

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