stevegrant Posted 6 February, 2012 Share Posted 6 February, 2012 And despite what you keep saying, if for any reason the Liebherr's money stopped pouring into SFC you'd be in trouble as well. Except there's one fundamental difference between us and you - we have saleable assets. If we were in a situation where we *had* to sell players - which we're certainly not - there would be plenty of interest. On a slightly unrelated note, in the past I've been very cynical about any Pompey fans bleating on about how the situation they find themselves in is all the fault of the Premier League/Football League for letting these people in, while the likes of Mandaric was more than happy to flog the club for a profit and they lapped it all up at the time despite countless warnings of what was likely to happen. However, on this occasion I've a modicum of sympathy for the view that the Football League could have done more. As Ho has said on most of his three daily posts for the last year, every deal is scrutinised by the Football League, and they were the ones who approved the club's business plan which relied upon CSI pumping in yet more money of dubious origin. They could easily have said "no, you will work to a business plan that doesn't involve cash injections from external sources", and Pompey would have had to comply. Link to comment Share on other sites More sharing options...
Wurzel Posted 6 February, 2012 Share Posted 6 February, 2012 My last post should have referred to Sholing Sports FC Except there's one fundamental difference between us and you - we have saleable assets. If we were in a situation where we *had* to sell players - which we're certainly not - there would be plenty of interest. . Not to mention an unencumbered stadium and Premier League quality training ground, Link to comment Share on other sites More sharing options...
Winchester Red Posted 6 February, 2012 Share Posted 6 February, 2012 Hardly. ML invested his money in buying the club, clearing the debt, transfer fees and infrastructure. NOT wages. The club has to be able to cover its week to week costs on its own for exactly this reason. This is why NC wouldn't break the wage structure for some potential signings after fees had been agreed. Exactly the same? I think not. Link to comment Share on other sites More sharing options...
Winchester Red Posted 6 February, 2012 Share Posted 6 February, 2012 I would love it if a buyer came in 10 minutes before liquidation and the FL said 'no, you've not passed the fit and proper test'. The phew wouldn't know what to moan about first. The FL killing their club or the FL protecting the club. The FL are damned if they do and damned if they don't Some of the previous owners may not have passed a stricter FPTT, but then PFC might actually have gone bust sooner. Link to comment Share on other sites More sharing options...
Gingeletiss Posted 6 February, 2012 Share Posted 6 February, 2012 My last post should have referred to Sholing Sports FC Not to mention an unencumbered stadium and Premier League quality training ground, And a piece of land worth 20 million to Tesco's.............Oh! that's Poopey! Link to comment Share on other sites More sharing options...
pedg Posted 6 February, 2012 Share Posted 6 February, 2012 And a piece of land worth 20 million to Tesco's.............Oh! that's Poopey! But Ho has explained that. The council will use as yet unpassed legislation to spend an unknown amount of tax payers money to buy the land with compulsory purchase orders and then give the land to pompey so they can sell it for 20 million to Tesco. Simple. Link to comment Share on other sites More sharing options...
eastleighhalo Posted 6 February, 2012 Share Posted 6 February, 2012 I find it quite interesting that Corpse refers to Chinny as " scumbag" . Where would they be now without his intitial and subsequent outlay i wonder ? Link to comment Share on other sites More sharing options...
Winchester Red Posted 6 February, 2012 Share Posted 6 February, 2012 That was my previous point about FPPT. If the FL had said no to Chinney or any of the others, PFC might have ceased to exist a while ago. One of the phew forums had posters begging for 'anyone' to take them over only last week. They want it both ways, but ultimately to be able to blame someone (anyone!) else for their problems Link to comment Share on other sites More sharing options...
trousers Posted 6 February, 2012 Share Posted 6 February, 2012 And despite what you keep saying, if for any reason the Liebherr's money stopped pouring into SFC you'd be in trouble as well. Link to comment Share on other sites More sharing options...
rooney Posted 6 February, 2012 Share Posted 6 February, 2012 Birch Lawn - not as big as FP but not a lot smaller - home of Sholing FC had a strict, long established covenant that the land it was on could only, ever, be used for recreational use. Where is it now? If I've still got my bearings right it is exactly HERE. As you say policies change, lawyers nit pick, nothing is ever cast in stone. So was Ladies Walking Field given to the Town of Poole on conition for recreational use by the late Lady Wimborne. Many a hard fought game I played on the numerous football pitches when I was a lad. Now a great big Shopping Precinct. Link to comment Share on other sites More sharing options...
trousers Posted 6 February, 2012 Share Posted 6 February, 2012 The FL are damned if they do and damned if they don't Some of the previous owners may not have passed a stricter FPTT, but then PFC might actually have gone bust sooner. Nail. Head. http://haveyourcakeandeatit.org/ Link to comment Share on other sites More sharing options...
Minsk Posted 6 February, 2012 Share Posted 6 February, 2012 Chinney flying over to 'sort things out' means nothing. If he pay a months wages (£1m) + associated tax (£800k) + the back tax (£1.8m), so another £3.6m, this will get them through to, say, the end of February. All he has achieved is raising his debt from, what?, £18m to £21m. For what purpose? If he thinks he's going to take the whole parachute payment of £8m on 1 April(?) he'd still need to fund another month of wages (£1.8m) and then he'd have the biggest cr*p shoot ever because the CVA would need paying and there'd be no money to do so. We don't even know what football related creditors are waiting to be paid from 31 December (stage payment transfers) so PFC may not even get the whole parachute payment given to them. And don't even get me started on points deductions for not paying the CVA. It's find a buyer (2 hopes... bob and none) or liquidate. There is no 'sorting out' that can be done. Just throw money down a black hole or lock up the shop That to me is the position. Anyone see it differently? I see it exactly the same way! Link to comment Share on other sites More sharing options...
trousers Posted 6 February, 2012 Share Posted 6 February, 2012 Link to comment Share on other sites More sharing options...
Minsk Posted 6 February, 2012 Share Posted 6 February, 2012 1a) The previous CVA is nothing to do with them. Baker Tilley have to collect the cash & pay it to the creditors. They could, in theory, ask to renegotiate the payments with BT, but as HMRC are now the major creditor (the Football Creditors who "won" the vote last time have now been paid, so are no longer in the picture), and BT were appointed at the behest of HMRC, I can't really see much mileage there. 2a) "Earmarked", I think yes. "Ringfenced", no. 2b) They are paid to Newco by the PL. 2c) Yes, in theory Newco can siphon them off and sod the CVA, but that would incur a WUP from Baker Tilley in April. 3a) If they cease to be a member of the FL due to their insolvency event(s) the remaining parachute payments are distributed among PL clubs. In liquidation, Chainrai will get first dibs on everything. He holds the primary debenture. He will take everything they have of any value, and nobody else will get a penny, not even the CVA. The players (Football Creditors) will get paid, but outside of the actual liquidation of assets of the Company, from the remaining parachute payments, before the rest is forfeit. It's possible they might even get their existing contracts paid up in full from the PP's. I would expect the Articles & Memorandum of PFC 2010 Ltd to contain some restrictions on Director's authority which would require shareholder's approval at a General Meeting, such as winding up the Company or seeking appointment of an Administrator. So, as de facto shareholder at the moment, AA does have some important direct jurisdiction. Yep. Not the same situation as Swindon at all. All just IMO, of course. We haven't got access to the Sale & Purchase Agreement where AA sold the club to Chainrai (Newco), or where Chainrai sold it to CSI (although I suspect that one is now void due to breach of payment terms by by CSI. As far as my understanding goes, SPOT ON!! Link to comment Share on other sites More sharing options...
Minsk Posted 6 February, 2012 Share Posted 6 February, 2012 PS: ref Gaydamak's land and a potential sale to Tesco. I'm well aware that PFc don't own the land. Yet. However, Gaydamak has had at least two planning applications for industrial use knocked back by PCC and there is open talk about a CPO once the future of the club gets sorted out under the "assets of community value" bill that's introduced shortly. I'm sure Gaydamak and Chainrai would love to join together and sell the whole parcel to Tesco themselves but once again the whole planning application process would be a nightmare without the stadium included in any plans. I think that if PFC is liquidated they will be able to do exactly that!! Maybe not such a miscalculation after all. And dont forget, Chinny and Gaddy snr used to be business partners. (I always did wonder if they were still working together!) Link to comment Share on other sites More sharing options...
Under Weststand Posted 6 February, 2012 Share Posted 6 February, 2012 I find it quite interesting that Corpse refers to Chinny as " scumbag" . Where would they be now without his intitial and subsequent outlay i wonder ? Don't you realise that in Poorsmouth scumbag is a term of endearment. who can forget the raucuos rendisions of one Peter Storyteller also fondley now called scumbag. The wonderfull agent Saggy chops now also effectionately called scumbag. Now Chinny scumbag, and AA who was not long ago being hailed as their savior now also scumbag. See a reacurring theme here. Link to comment Share on other sites More sharing options...
St Jim Posted 6 February, 2012 Share Posted 6 February, 2012 If a FL club goes into administration the players registrations revert to the FL and they become free agents. What a load of b011ocks. Many clubs in administration sell their players. We did with Surman, as did Bournemouth with Vokes. Link to comment Share on other sites More sharing options...
eurosaint Posted 6 February, 2012 Share Posted 6 February, 2012 I am happy to note that Mr Chanrai is back in the fold and aiming to 'sort out' the mess at ground level ! This will enable the club to limp along whilst incurring more debts (at high interest rates!) and ensuring that we have further entertainment on this thread ! It's been suggested that Lumpitt may be sacked, although this would be illegal. (Not that it would worry AA or Chinny!). Clearly there has been a 'falling out' between DL and AA over the lack of transfers in Jan, so I wouldn't be at all surprised if he walked ! Let's face it, he's hardly going to stay on for the money as he no doubt hasn't been paid recently either !! Link to comment Share on other sites More sharing options...
dronskisaint Posted 6 February, 2012 Share Posted 6 February, 2012 Some of the post below is 100% wrong so I've corrected it for you. HTH Wrong and wrong. If a FL club goes into administration the players registrations revert to the FL and they become free agents. Parachute payments are redistributed to other clubs. Which leaves Chainrai with . . . . . . . Fratton Park. He could sell it to devlopers for it's land value (£3 - £4m) but what developer would buy it knowing the council have lready said they'll oppose any move to change it's use from anything other than a sports stadium. Where does Chainrai go now? He could sit it out to the 20th and the WUP and hope it goes his way (does anyone think it will?) he can try and install a puppet owner but that needs him to pump in money to keep us trading to the end of the season (so very unlikely) or he can sell - and this time it's very much a buyers market. Two outcomes. We get liquidated and Chainrai gets almost nothing or he accepts that he's not going to make anywhere near as much out of us as he thought and he sells for good. Either way we're rid of the scumbag. PS: ref Gaydamak's land and a potential sale to Tesco. I'm well aware that PFc don't own the land. Yet. However, Gaydamak has had at least two planning applications for industrial use knocked back by PCC and there is open talk about a CPO once the future of the club gets sorted out under the "assets of community value" bill that's introduced shortly. I'm sure Gaydamak and Chainrai would love to join together and sell the whole parcel to Tesco themselves but once again the whole planning application process would be a nightmare without the stadium included in any plans. As I said 15 pages or so ago, I think Chainrai has badly miscalculated this time. Are you not important enough to be at the toy fair Roesy? The scumbag, to use your phrase, is the only hope you've got at the moment - let's hope he washes his hands of you eh? What exactly, is there to buy to make it a buyers market? Link to comment Share on other sites More sharing options...
St Jim Posted 6 February, 2012 Share Posted 6 February, 2012 PS: ref Gaydamak's land and a potential sale to Tesco. I'm well aware that PFc don't own the land. Yet. However, Gaydamak has had at least two planning applications for industrial use knocked back by PCC and there is open talk about a CPO once the future of the club gets sorted out under the "assets of community value" bill that's introduced shortly. I'm sure Gaydamak and Chainrai would love to join together and sell the whole parcel to Tesco themselves but once again the whole planning application process would be a nightmare without the stadium included in any plans. I'm sure I heard from someone on here that PFC would get 20m from selling this land. You seem to be so reliably informed and well connected, can you verify this and also how this would be possible? Also I wonder what would happen with PCC approval for redevelopment if there was no football club. Link to comment Share on other sites More sharing options...
Alanh Posted 6 February, 2012 Share Posted 6 February, 2012 Not sure if anyone has already posted this but it offers a few minutes light entertainment http://www.mousebreaker.com/games/bungabulldog/playgame Link to comment Share on other sites More sharing options...
Saint Lindford Posted 6 February, 2012 Share Posted 6 February, 2012 Even the council are now in on the act. 3 February 2012 Football and Pompey are incredibly important here in Portsmouth. The fans of Portsmouth Football Club have always been Pompey's 12th man, so now that the future of the club is in question, I wanted to encourage any of you who are fans to show your support and get involved. The Pompey Supporters Trust have set up a database to allow fans to register and show support for all efforts to save Portsmouth Football Club. The trust feels that the club needs a different model of ownership, with meaningful supporter involvement and dialogue, allowing those who care about the club the most - the fans - to help safeguard the club's future and play a real role in running and developing it. I believe having stable, competent, businesslike owners for the club is important to allow success on the pitch. Having fans - the real owners of the club's ethos - as part-owners would give that real stability. Even if you don’t follow the football club but understand and appreciate its value to our proud city, I encourage you to register your support at http://www.pompeys12thman.co.uk Councillor Gerald Vernon-Jackson Leader of the Council Surely the software at e-bay has broken? It says only 79 have been sold, that has to be wrong and missing at least 3 zeros from the end. After all we are talking about the 'bestest fans in the world' here. http://www.ebay.co.uk/itm/ws/eBayISAPI. ... 0820074412 Link to comment Share on other sites More sharing options...
Sevvy Posted 6 February, 2012 Share Posted 6 February, 2012 I am happy to note that Mr Chanrai is back in the fold and aiming to 'sort out' the mess at ground level ! This will enable the club to limp along whilst incurring more debts (at high interest rates!) and ensuring that we have further entertainment on this thread ! It's been suggested that Lumpitt may be sacked, although this would be illegal. (Not that it would worry AA or Chinny!). Clearly there has been a 'falling out' between DL and AA over the lack of transfers in Jan, so I wouldn't be at all surprised if he walked ! Let's face it, he's hardly going to stay on for the money as he no doubt hasn't been paid recently either !! They couldnt afford to make him redundant, how long was his contract. Link to comment Share on other sites More sharing options...
Wes Tender Posted 6 February, 2012 Share Posted 6 February, 2012 This is mildly amusing:- http://petersfieldnewswire.blogspot.com/2012/02/david-cameron-shows-his-true-colours.html Link to comment Share on other sites More sharing options...
Spudders Posted 6 February, 2012 Share Posted 6 February, 2012 BBC Solent Sport @solentsport #pompey Solentsport understands players and staff @ Pompey have yet to be paid Jan salaries despite claims by Chainrai to the contrary Link to comment Share on other sites More sharing options...
St Jim Posted 6 February, 2012 Share Posted 6 February, 2012 We're in trouble because our last FL approved owner decided to put more money into the club to improive the squad Sorry Corpse, I forgot it's all the FL's fault you skates have cheated your way to the FA Cup and into financial oblivion. Poor old plucky P****y been shafted by the evil FL! (and let's not forget when he came in we only had 8 players) Quality over quantity......my ar53! Only 8 players?? How about selling your higher earners and promoting your youth? By selling TBH & 3 or 4 others on larger wages for next to nothing then offering contracts to some of the youth players (even scouring the lower leagues for good potential players), you may not be sitting mid table as you are now but at least you will be living within your means. P****y have had opportunity after opportunity to do this (long before Vlad came in) but decided to gamble leaving the British tax payer and many small businesses out of pocket so don't start playing the victim and sympathy cards. You're not getting any from us! Link to comment Share on other sites More sharing options...
dingbattigger Posted 6 February, 2012 Share Posted 6 February, 2012 Surely the software at e-bay has broken? It says only 79 have been sold, that has to be wrong and missing at least 3 zeros from the end. After all we are talking about the 'bestest fans in the world' here. http://www.ebay.co.uk/itm/ws/eBayISAPI. ... 0820074412 infoThis listing () has been removed, or this item is not available. •Please check that you've entered the correct item number •Listings that have ended 90 or more days ago will not be available for viewing. Link to comment Share on other sites More sharing options...
St Jim Posted 6 February, 2012 Share Posted 6 February, 2012 Court case update - @Pearcesport James Pearce All set for Day Eleven of Redknapp/Mandaric trial. We'll begin with closing arguments from Mandaric's team, then Redknapp's follow 1 hour ago via Twitter for iPhone @Pearcesport James Pearce Mamdaric's barrister describes Redknapp + Mandaric as an "odd couple". "Very different men.....with deep bond between them" 18 minutes ago via Twitter for iPhone @Pearcesport James Pearce Mandaric's barrister finishes by saying his client is "not guilty and not a tax cheat....evidence against him is hopelessly weak" 18 minutes ago via Twitter for iPhone @Pearcesport James Pearce Mandaric's barrister tells jury that "You have it in your power to put things right". 20 minute break then Redknapp's defence concludes 17 minutes ago via Twitter for iPhone Link to comment Share on other sites More sharing options...
Saint Lindford Posted 6 February, 2012 Share Posted 6 February, 2012 infoThis listing () has been removed, or this item is not available. •Please check that you've entered the correct item number •Listings that have ended 90 or more days ago will not be available for viewing. http://www.ebay.co.uk/itm/ws/eBayISAPI.dll?ViewItem&item=110820074412 Still there and flying off the shelves, 81 now sold. PMSL Link to comment Share on other sites More sharing options...
Joey-deacons-left-nut Posted 6 February, 2012 Share Posted 6 February, 2012 Better off I should imagine, they'd have entered admin and exited without a debanture and 28% loan stacked against them. Link to comment Share on other sites More sharing options...
Joey-deacons-left-nut Posted 6 February, 2012 Share Posted 6 February, 2012 BBC Solent Sport @solentsport #pompey Solentsport understands players and staff @ Pompey have yet to be paid Jan salaries despite claims by Chainrai to the contrary Chinny lent them money at thes tart of Jan, it's not his fault the accoutn got frozen at the end of the month just before pay day... Link to comment Share on other sites More sharing options...
niceandfriendly Posted 6 February, 2012 Share Posted 6 February, 2012 http://www.pompeys12thman.co.uk Superb quote on there from Sky Sports' Sam Matterface "Pompey fans are some of most passionate supporters in the world" :lol: Link to comment Share on other sites More sharing options...
pedg Posted 6 February, 2012 Share Posted 6 February, 2012 http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/chainrai_flying_to_uk_to_help_sort_out_pompey_s_future_1_3491483 The adminsitrator for Pompey’s former parent company, CSI, Andrew Andronikou, told The News on Saturday he was still seeking a validation order to unfreeze the account. Has he looked down the back of the sofa? Link to comment Share on other sites More sharing options...
Winchester Red Posted 6 February, 2012 Share Posted 6 February, 2012 Validation orders can be done the same day..... if he's still seeking one, he ain't getting one. Link to comment Share on other sites More sharing options...
niceandfriendly Posted 6 February, 2012 Share Posted 6 February, 2012 And indeed from Ashley Brown, Chair of the Portsmouth Supporters Trust "Over the years we have been forced to put up with a succession of owners who did not share our passion for all things Pompey." Oh yeah you've had it ****ing tough winning the cup and a European Tour, eh? "We have sat through atrocious financial management, excessive greed, alleged tax evasion, probable international fraud & quite possibly money laundering." Did you have to sit through these troubled times, really? Or were you actually turning a completely blind eye to everything, lapping up all your success and chanting "There's only one Peter Storrie"? D.C.F.F.F.F.F.F.F.F.F.F.F.F.F.F.F.F.S.B@STARDS Link to comment Share on other sites More sharing options...
angelman Posted 6 February, 2012 Share Posted 6 February, 2012 Chinny lent them money at thes tart of Jan, it's not his fault the accoutn got frozen at the end of the month just before pay day... Hmmm you sure the money is still there. Problem with Poopey is that they don't realise that you should pay the tax man before the staff. Unfortunate but true. They seem to have an unrealistic expectation that the tax man is some benign being that can be fobbed off and made to wait. Link to comment Share on other sites More sharing options...
Jimmy_D Posted 6 February, 2012 Share Posted 6 February, 2012 Their fans seem to think that Chanrai will eventually have to accept a lower value, a buyer will come in, and everything will be ok. Trouble with that is, there's no value in buying Pompey, only liabilities, so even a tiny amount for Chanrai from liquidation could well be more than any buyer is willing to pay. Link to comment Share on other sites More sharing options...
angelman Posted 6 February, 2012 Share Posted 6 February, 2012 As was pointed out a while ago, Chin pumping money into the club isn't doing them any favours. Trying to find a buyer at £18m (??) is easier than trying to find one by that amount PLUS whatever interim payments/loans Chin puts in. Anything Chin puts in surely must be throwing good money after bad. Chin isn't that stupid, and I still think that he knew exactly what he was getting into. One thing that he has been upfront about from the beginning is that he didn't want to run a football club. Why that position should have changed........ Link to comment Share on other sites More sharing options...
Winchester Red Posted 6 February, 2012 Share Posted 6 February, 2012 If Chinney keeps the ground, even taking on the club for £1 is a poor deal for a new owner. The liabilities are huge, both in current debt and immovable player contracts. The club is worth less than the value of the land that nottarf cr*p is built on. There really is no where to go from there, unless they think he's going to let the land go cheap because he cares Link to comment Share on other sites More sharing options...
holepuncture Posted 6 February, 2012 Share Posted 6 February, 2012 Their fans seem to think that Chanrai will eventually have to accept a lower value, a buyer will come in, and everything will be ok. Trouble with that is, there's no value in buying Pompey, only liabilities, so even a tiny amount for Chanrai from liquidation could well be more than any buyer is willing to pay. Every aspect of the skates business seems to be a black hole of a liabililty. Chinny can do as he pleases as he is secured, and that crumbling wreck of a stadium becomes a decent bargaining position should the skates liquidate and head to Moneyfields. He can ransom the council just as much as they can bleat on about 'sporting facilities' at Fratton... and as he has been quoted "I'm still in a good position, I still have a debenture over the club as security on the club's full assets, so one way or another I'm going to get my money back... But I don't want to see the club liquidated. Anything I can do to help Portsmouth I will." So, im alright Jack boasts chinny, followed by the admission that the club could be liquidated, its just not his preffered outcome. I didnt want snow this saturday! Shame pack the park didnt work out... if that clock the Russian Mafia pledged to repair was in place it would be tick tocking away... times running out http://www1.skysports.com/football/news/11095/7491389/ So, after AAs talk of buyers in the next 24/48 hours three weeks ago, his latest claim is they have days, not weeks to complete a sale of a debt riddled liability, with no infrastructure, unpaid staff and a court order issued on behalf of Her Majesty. We have a fantastic couple of weeks ahead ladies and gents, how will AA, PFC & BC blag this one then? Link to comment Share on other sites More sharing options...
aintforever Posted 6 February, 2012 Share Posted 6 February, 2012 Which leaves Chainrai with . . . . . . . Fratton Park. He could sell it to devlopers for it's land value (£3 - £4m) That's a much safer option for him than pumping endless millions into an insolvent company. All he and Gaydamak has to do is sit and wait. Planning permission wont be a problem after Fratton Park has been sat derelict for a year or two and AFC Pompey are located somewhere else. Link to comment Share on other sites More sharing options...
Guided Missile Posted 6 February, 2012 Share Posted 6 February, 2012 And despite what you keep saying, if for any reason the Liebherr's money stopped pouring into SFC you'd be in trouble as well. Just as it looked like the club would have to fold, the cavalry arrived in the shape of Markus Liebherr, whose DMWSL 613 Limited acquired the share capital of the football club (and other group companies) from the administrators of Southampton Leisure Holdings Plc on 8 July 2009. Not only did the new owner save the club, but he also paid the debts in full, as opposed to many new owners who only pay a few pennies in the pound for debts owed, leaving many small business and public authorities out of pocket. Liebherr’s initial statement was equally encouraging, “I believe we have a superb opportunity to rebuild this great club. This will require resources, planning, hard work and patience. We should not expect instant success, but our fans, employees and stakeholders can expect 100% commitment from me and my team.” Importantly, Liebherr cleared the debts to the bank, tax authorities and trade creditors as part of the acquisition, replacing them with a £20 million shareholder loan that is not repayable for at least five years. This gives Southampton a major advantage compared to many other clubs that are still burdened by debt. Indeed, Football League chairman Greg Clarke has stated, “Debt’s the biggest problem. If I had to list the 10 things about football that keep me awake at night, it would be debt one to 10.” So, the club is now financially stable, even after Liebherr’s death. His estate “is committed to the continued investment in order to achieve success for Southampton football club.” Although nobody should expect the new owners to throw money around, they have ambitious objectives, as outlined by current chairman, Nicola Cortese, “The plan remains the Premier League by 2014.” Original mythbusting article here. Link to comment Share on other sites More sharing options...
ALWAYS_SFC Posted 6 February, 2012 Share Posted 6 February, 2012 Let em` die, let em` die,let em` die..............................Let em` DIE!!!! Link to comment Share on other sites More sharing options...
Wes Tender Posted 6 February, 2012 Share Posted 6 February, 2012 This is a triumph of hope over experience http://www.pompeytrust.com/index.php?option=com_content&view=article&id=368%3Aqbubbleq-match-consultation-report&catid=34%3Ademo-category The Skate Trust seem to believe that the match against us in April will actually take place. Link to comment Share on other sites More sharing options...
St Jim Posted 6 February, 2012 Share Posted 6 February, 2012 Their fans seem to think that Chanrai will eventually have to accept a lower value, a buyer will come in, and everything will be ok. Trouble with that is, there's no value in buying Pompey, only liabilities, so even a tiny amount for Chanrai from liquidation could well be more than any buyer is willing to pay. not only that, at the very minimum the club is losing 800k per month (the value of the debt to HMRC they couldn't afford to pay for 2 months), so not only paying Chinny off any buyer will also have to fund 4 months of losses totaling 3.2m minimum before they can even think to sell players to cover costs but then there'll be no ticket sale income through the summer months. Chance of a buyer? Never, not ever, nope, no, null, non, nein, nicht, nada Link to comment Share on other sites More sharing options...
trousers Posted 6 February, 2012 Share Posted 6 February, 2012 http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/chainrai_flying_to_uk_to_help_sort_out_pompey_s_future_1_3491483 Has he looked down the back of the sofa? So, they're now referring to CSI as Pompey's FORMER parent company...? And there was me thinking they were still Pompey's parent company, albeit in administration.... Airbrushes at the ready folks... Link to comment Share on other sites More sharing options...
stevegrant Posted 6 February, 2012 Share Posted 6 February, 2012 So, they're now referring to CSI as Pompey's FORMER parent company...? And there was me thinking they were still Pompey's parent company, albeit in administration.... Airbrushes at the ready folks... I think they're right with the "former parent company" bit, Chainrai basically repossessed the football club from CSI so he now owns it again. Link to comment Share on other sites More sharing options...
hutch Posted 6 February, 2012 Share Posted 6 February, 2012 I think they're right with the "former parent company" bit, Chainrai basically repossessed the football club from CSI so he now owns it again. I seem to remember last time he exercised a "lien" over the shares through the appointment of "nominees" to the board, after the mythical Sheikh defaulted on the first loan repayment. I think one was his brother. Link to comment Share on other sites More sharing options...
ALWAYS_SFC Posted 6 February, 2012 Share Posted 6 February, 2012 (edited) On the bus waiting and dressed suitably for the area http://t0.gstatic.com/images?q=tbn:ANd9GcQsAkCNYDZNvx98Br7v9NTmXEVLvsQRvKJkxZ4iEyYny6LBexbEXg Edited 6 February, 2012 by ALWAYS_SFC Link to comment Share on other sites More sharing options...
bridge too far Posted 6 February, 2012 Share Posted 6 February, 2012 There's going to be a segment on this on BBC1 South Today (around 1.30pm). Will probably be repeated tonight at 6.30 Link to comment Share on other sites More sharing options...
Recommended Posts