Pompey Takeover Saga

[trousers]

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.

 

Maybe they should update their website in that case....

 

http://www.portsmouthfc.co.uk/club/ownership.aspx

 

Ownership

Portsmouth Football Club (2010) Limited is the company that holds the share in The Football League. It is also a member of the Hampshire County Football Association and an Associate Member of the Football Association.

 

Portsmouth Football Club (2010) Limited is 100 per cent owned by Convers Sports Initiatives PLC (CSI), a company incorporated in the United Kingdom. CSI is currently in administration and is controlled by its joint administrators Andrew Andronikou and Peter Kubik of UHY Hacker Young.

[dronskisaint]

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.

 

Indeed - I made the observation a few tens of pages back that even if new buyers were given £30 million to take it away they'd still be out of pocket!

[trousers]

On the bus waiting and dressed suitably for the area

 

Edit

 

How do i post an image from my pc?

 

You need to upload it to a hosting site first, and then reference the URL.

[FloridaMarlin]

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.

 

Crikey, I remember that. What a sorry, sordid episode that was.

 

Poor old Brian Nash, the secretary, turned up one morning to find the pitch had been deep-ploughed.

 

If memory serves me correctly, it was a couple of guys from Torquay who had somehow inherited to land when the old lady who owned it died.

 

They had no interest in football and suddenly realised they were sitting on a little gold mine.

 

Yes, there were covenants on the land protecting it for leisure use, but they easily got round them by supplying alternative facilities. This they did by buying a piece of land along Botley Road, sticking some goalposts on it and telling Sholing: "There you are, go and play on that."

 

The guys made about a £1 each on the deal and Sholing folded.

 

What was interesting was the change of attitude of the residents surrounding Birch Lawn. They used to moan like hell about having a football club at the bottom of their garden, with balls constantly coming over their fence.

 

Suddenly, when they realised it was going to be built on, they changed their minds, and decided it wasn't THAT bad having a football club as your neighbour, as for five or six days a week it was a nice quiet open space.

 

Despite all the protests and the convenant on the land, nobody could stop the development.

[ALWAYS_SFC]

You need to upload it to a hosting site first, and then reference the URL.

 

Not to clever at this sort of stuff tbh

 

Can i not do it straight from pc?

[bridge too far]

Not to clever at this sort of stuff tbh

 

Can i not do it straight from pc?

 

You should be able to. Bring up the website in another window, highlight the web address in the browser bar, press Ctrl + C, then open up this page and, in your comment press Ctrl + V.

[trousers]

Not to clever at this sort of stuff tbh

 

Can i not do it straight from pc?

 

Alas no....it needs to be 'hosted' first. I tend to use Google's Picasa. Flickr or imageshack are popular alternatives. Just set up an account with one of these (it's a free service) and upload your photo.

[trousers]

You should be able to. Bring up the website in another window, highlight the web address in the browser bar, press Ctrl + C, then open up this page and, in your comment press Ctrl + V.

 

I think the image is sitting on his/her computer hard drive rather than on a website (if I've read it right)

[Corporate Ho]

its funny how the players who refused to leave are being hailed as loyal heroes when in fact it was selfish in the extreme.

 

The club is desperate for cash, you just need to agree terms, but a legally-operating club can't match your current wage.

Also your agent tells you that your contract will be paid up in full if the club goes pop - it could be a massive money spinner for you - so sit tight.

If the club is liquidated the likes of Kitson and Ben Haim will be quids in and able to find new clubs on a free with a signing on fee.

No greedy player will shift under those circumstances - and they didn't.

Loyalty? Yeah right.

 

We survived in some part due to Surman accepting reality, and the generosity of Leon Crouch - pompey seem to have neither a player willing to take one for the club, nor a fairy godfather.

 

Here we go, the old Saints players are marvellous and all Pompey players are mercenaries. Good old Surman, what a trouper. Accepting the massive personal hit of a transfer to a PL club on bigger wages. He should be canonised. PMSL. If you think your players are any different to ours you’re living in cuckoo land

 

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.

Read the latest planning document (from page 62 onwards details the plans for the area around the ground)

“3.98 Fratton Park will be safeguarded for use as a football stadium with the possibility for an

improved or new stadium.”

“3.100 This policy will be implemented through development management decisions and

infrastructure will be provided as part of the development. The council is also prepared to use

compulsory purchase powers if necessary”

http://www.portsmouth.gov.uk/media/Portsmouth_Plan_(adoption)_(low_res).pdf

 

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 ?

ROTFPMSL. You STILL don’t get it, do you. Chainrai paid nothing for the club. His original “loan” wasn’t to PFC, it was to Al Faraj/ Falcondrone, who, coincidentally, are based in the BVI, just like Chainrai’s company Portpin who made the loan. See anything fishy there? PFC never saw a penny from Chainrai. Do you not gt what’s happened here even after all this time?

 

What a load of b011ocks. Many clubs in administration sell their players. We did with Surman, as did Bournemouth with Vokes.

Yeah, my mistake. I meant to type liquidation, not administration

 

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.

PCC are working with the Trust to ensure that if a phoenix club has to be established then they’ll play at Fratton.

Ref the land, see earlier post. Tesco were willing to pay “up to” (as I originally posted) £20m. I assume that figure would have gone down by now but it would still attract a substantial fee. And before Johnnykins start posting about Tesco not building new stores, they’ve cut back on the numbers they’re building but are still building in some areas and Portsmouth is a key site for them.

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.

He’s not pumping endless millions into the club. Do you investigative genius’ still not get this. PCC are already talking about CPO’s. How long is he prepared to wait and risk losing it that way? Not saying a buyer will come through in time but it makes no sense for Chainrai not to sell.

 

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.

I didn’t say you were in trouble Gormless, I said IF they pulled out. And for those who have told me you’d be OK because you have assets to sell

1. By selling your best players wouldn’t that leave you in trouble anyway

2. Just how much do you currently owe?

3. What is your current wages to turnover ratio

4. How long will the Liebherr’s continue to finance you?

You all seem confident you have no worries, so I assume you can answer the above questions

[Gruffalo]

Or if you don't want to register an account, http://www.tinypic.com is quick and easy..

[trousers]

Saints players are marvellous and all Pompey players are mercenaries

 

Nutshell

[ALWAYS_SFC]

 

 

The pompey liquidators ready to go to the dead zone...

[Winchester Red]

Ho, just for a change, you've conveniently ignored my explaining that ML only put money up for buying the club, clearing the debt, infrastructure and transfer fees.

 

The club has to cover all it's day to day expenses, which include player wages, within its revenue.

 

So the answer should the unthinkable happen and the family now walk away is..............(drum roll)

 

Nothing. The wages are covered and the club carries on. We might have to rein in transfer fees, but hey, we have an academy. You know what one of those is Ho?

 

NC is also on record (when talking about the unthinkable situation of the family selling) as saying he has other contacts waiting in the wings, and you know Ho Ho Ho, I have a lot more faith in the stuff coming out of his mouth than Android's, Chinney's, Lumpitts, Storries,.... god this list could go on forever

 

It is fair to say there is a risk with every owner, but lets just say that ours are AAA rated and yours, well...... yours aren't.

Edited 6 February, 2012 by Winchester Red

[ALWAYS_SFC]

Or if you don't want to register an account, http://www.tinypic.com is quick and easy..

 

Thanks Pal and all for advice

[Sevvy]

ROTFPMSL. You STILL don’t get it, do you. Chainrai paid nothing for the club. His original “loan” wasn’t to PFC, it was to Al Faraj/ Falcondrone, who, coincidentally, are based in the BVI, just like Chainrai’s company Portpin who made the loan. See anything fishy there? PFC never saw a penny from Chainrai. Do you not gt what’s happened here even after all this time?

 

 

Falcondrone paid in to pompeys accounts the amounts below

 

Oct-09 Nov-09 Dec-09

 

6,999,988 5,750,000 4,000,000

[Colinjb]

Here we go, the old Saints players are marvellous and all Pompey players are mercenaries. Good old Surman, what a trouper. Accepting the massive personal hit of a transfer to a PL club on bigger wages. He should be canonised. PMSL. If you think your players are any different to ours you’re living in cuckoo land

 

Yes, we are the ones with a skewed perspective, when in fact you have missed the point that Drew and David McGoldrick could leave and get a better offer by a club offering terms to his now struggling employer.

 

Totally different to the fact it makes more sense for your players to stay because there isn't a hope of anyone coming in and paying anywhere near their existing terms at their struggling employer. Which may be more then a little part of the reason for the trouble in the first place....

[ALWAYS_SFC]

 

Here we go, the old Saints players are marvellous and all Pompey players are mercenaries. Good old Surman, what a trouper. Accepting the massive personal hit of a transfer to a PL club on bigger wages. He should be canonised. PMSL. If you think your players are any different to ours you’re living in cuckoo land

 

Read the latest planning document (from page 62 onwards details the plans for the area around the ground)

“3.98 Fratton Park will be safeguarded for use as a football stadium with the possibility for an

improved or new stadium.”

“3.100 This policy will be implemented through development management decisions and

infrastructure will be provided as part of the development. The council is also prepared to use

compulsory purchase powers if necessary”

http://www.portsmouth.gov.uk/media/Portsmouth_Plan_(adoption)_(low_res).pdf

 

ROTFPMSL. You STILL don’t get it, do you. Chainrai paid nothing for the club. His original “loan” wasn’t to PFC, it was to Al Faraj/ Falcondrone, who, coincidentally, are based in the BVI, just like Chainrai’s company Portpin who made the loan. See anything fishy there? PFC never saw a penny from Chainrai. Do you not gt what’s happened here even after all this time?

 

Yeah, my mistake. I meant to type liquidation, not administration

 

PCC are working with the Trust to ensure that if a phoenix club has to be established then they’ll play at Fratton.

Ref the land, see earlier post. Tesco were willing to pay “up to” (as I originally posted) £20m. I assume that figure would have gone down by now but it would still attract a substantial fee. And before Johnnykins start posting about Tesco not building new stores, they’ve cut back on the numbers they’re building but are still building in some areas and Portsmouth is a key site for them.

He’s not pumping endless millions into the club. Do you investigative genius’ still not get this. PCC are already talking about CPO’s. How long is he prepared to wait and risk losing it that way? Not saying a buyer will come through in time but it makes no sense for Chainrai not to sell.

 

I didn’t say you were in trouble Gormless, I said IF they pulled out. And for those who have told me you’d be OK because you have assets to sell

1. By selling your best players wouldn’t that leave you in trouble anyway

2. Just how much do you currently owe?

3. What is your current wages to turnover ratio

4. How long will the Liebherr’s continue to finance you?

You all seem confident you have no worries, so I assume you can answer the above questions

 

You just don`t get it despite all the attempts to educate you so...

 

[rallyboy]

I said Surman accepted reality, which was to leave the club he wanted to play for rather than sit tight and have his contract paid up in full.

I see a difference between him and the likes of Ben Haim who has taken root and will be the last item that has to be forcibly removed so the bulldozers can go in.

No doubt when he's chained himself to the last dregs of his ridiculous contract in the south stand he'll be hailed as a plucky hero standing up to the developers.

 

 

Come on then fellow nutjobs, who do we think is really in pole position to manipulate the business to where they want it?

The taxman thinks he is in control but Chanrai is flying in to sort it all out.

 

Chanrai has been in charge since he initially loaned the money and claimed the business, he was fully in control right the way through admin and beyond, even when CSI thought they were in charge - but I'm not sure that he's exactly where he wants to be now...

AA has been looking after his boss since he became involved, ignoring creditors ever since he took responsibility for looking after creditors, but he couldn't make transfers happen last week - is he losing grip of the situation?

 

Lampitt has been toothless and inept - he's a soppy boy who is sulking because his local paper reporting the truth.

His decisions, overspending, ignoring alarm bells, have driven the business to the brink - and he seems to have no power.

 

HMRC were fully in control at the start of admin but lost it to AA fairly quickly.

They have control now, but can they hold onto it this time?

 

That sudden mention of £17M from CSI was perhaps an initial attempt by AA to introduce another imaginary debt for future use to outvote the taxman if required, but I don't think it can get to that this time.

 

So who will win this power struggle?

 

AA has been surprisingly clever in the past, he and Chanrai have shafted allcomers against the odds.

We won't know for a bit as they might have something extraordinary up their grubby little sleeves, but I reckon the duo's grip is slipping and it is advantage taxman.

 

Likely outcome?

IMO, taxman drops the ball again, AA pulls out a rabbit, CVA fails to happen, business limps on, terminally damaged, crawling towards a parachute payment.

 

No punishment, more pain for the few - no clear outcome, no one happy.

[suewhistle]

You know what the answer will be

 

Yeah, but a lot, lot longer than your summary!

[Chez]

Superb quote on there from Sky Sports' Sam Matterface

 

"Pompey fans are some of most passionate supporters in the world"

 

:lol:

he commentated on them for their local radio station for a few years, so hardly surprising he has a soft spot for them.

 

What an urban myth this has become that their fans are somehow more passionate or better than any others.

 

I have a Bury supporting mate who is about as passionate about his side as any fan could possibly be. He has travelled up and down the country watching lower league promotions and relegations for the last 25 years. But you never hear commentators suggesting Bury fans are amongst the most passionate in the world. Why ever not?

[Wade Garrett]

Crikey, I remember that. What a sorry, sordid episode that was.

 

Poor old Brian Nash, the secretary, turned up one morning to find the pitch had been deep-ploughed.

 

If memory serves me correctly, it was a couple of guys from Torquay who had somehow inherited to land when the old lady who owned it died.

 

They had no interest in football and suddenly realised they were sitting on a little gold mine.

 

Yes, there were covenants on the land protecting it for leisure use, but they easily got round them by supplying alternative facilities. This they did by buying a piece of land along Botley Road, sticking some goalposts on it and telling Sholing: "There you are, go and play on that."

 

The guys made about a £1 each on the deal and Sholing folded.

 

What was interesting was the change of attitude of the residents surrounding Birch Lawn. They used to moan like hell about having a football club at the bottom of their garden, with balls constantly coming over their fence.

 

Suddenly, when they realised it was going to be built on, they changed their minds, and decided it wasn't THAT bad having a football club as your neighbour, as for five or six days a week it was a nice quiet open space.

 

Despite all the protests and the convenant on the land, nobody could stop the development.

 

The club was skint. The shysters who ran the social club raided the football teams money, but still owned a fortune in VAT. Some right crooks there.

[Winchester Red]

Yeah, but a lot, lot longer than your summary!

 

I think anything else from Ho is likely to be exceptionally short

 

He's used his 3 free posts for today

[RedSolo]

Looks like the skate fans are trying to errrr, do something?

 

Lol - http://www.pompeys12thman.co.uk/

 

My aplologies if this has already been posted.

[Wade Garrett]

If we go up, couldn't we buy Pompey and use them as a nursery club. We could get them playing in red and white stripes and put a statue of Le Tissier outside the ground.

[Chez]

There really is no where to go from there, unless they think he's going to let the land go cheap because he cares

It's simple, unless there is a buyer offering more than the liquidation value, he will just let it ride. I suppose he could dip his hand in his pocket again to provide him with more time to find a buyer.

[pedg]

Read the latest planning document (from page 62 onwards details the plans for the area around the ground)

 

“3.98 Fratton Park will be safeguarded for use as a football stadium with the possibility for an

improved or new stadium.”

 

“3.100 This policy will be implemented through development management decisions and

infrastructure will be provided as part of the development. The council is also prepared to use

compulsory purchase powers if necessary”

 

http://www.portsmouth.gov.uk/media/Portsmouth_Plan_(adoption)_(low_res).pdf

 

I have no doubt they could use the councils money to compulsory purchase the ground my question is why would they do that and then give the ground to pompey so they could then sell it to tesco for £20 million?

[100%Red&White]

Likely outcome?

IMO, taxman drops the ball again, AA pulls out a rabbit, CVA fails to happen, business limps on, terminally damaged, crawling towards a parachute payment.

 

No punishment, more pain for the few - no clear outcome, no one happy.

 

So what you're saying is, just when there's light at the end of the tunnel, they go out and spend more money they haven't got on more tunnel. B'stards. Dirty f*kin cheating skate b'stards.

[Winchester Red]

Looks like the skate fans are trying to errrr, do something?

 

Lol - http://www.pompeys12thman.co.uk/

 

My aplologies if this has already been posted.

 

Why isn't TCWTB on that page. Isn't he important to them. A national icon?

 

They're not embarrassed by him are they??? ssshhhhhhhh (of course not)

[Chez]

If we go up, couldn't we buy Pompey and use them as a nursery club. We could get them playing in red and white stripes and put a statue of Le Tissier outside the ground.

can I suggest inside the stadium or it won't be there long. There is so much fun to be had with that idea. Red and white seats spelling out `SFC feeder club'.

[eastleighhalo]

Corpse you didnt answer the question did you so i will ask it again . If it wanst for "scumbag" Chinnys initial and subsequent outlay whare would you be now . Its not a trick question... just asking your opinion.

[Wes Tender]

 

I didn’t say you were in trouble Gormless, I said IF they pulled out. And for those who have told me you’d be OK because you have assets to sell

1. By selling your best players wouldn’t that leave you in trouble anyway

2. Just how much do you currently owe?

3. What is your current wages to turnover ratio

4. How long will the Liebherr’s continue to finance you?

You all seem confident you have no worries, so I assume you can answer the above questions

 

Because you're the one making the assumptions that we would be in trouble if the Liebherrs were to pull out, the onus is on you to answer those questions. Because unless you do, your contention that we would be in trouble, is based on nothing concrete at all. So come on, Ho, we await your response with bated breath.

[FloridaMarlin]

The club was skint. The shysters who ran the social club raided the football teams money, but still owned a fortune in VAT. Some right crooks there.

 

Quite right. The point I was trying to make was that despite the covenants supposedly protecting the ground, they proved to be worthless.

 

There seems to a number of parallels developing between Sholing and p****y....

[simonsays]

 

Here we go, the old Saints players are marvellous and all Pompey players are mercenaries. Good old Surman, what a trouper. Accepting the massive personal hit of a transfer to a PL club on bigger wages. He should be canonised. PMSL. If you think your players are any different to ours you’re living in cuckoo land

 

Read the latest planning document (from page 62 onwards details the plans for the area around the ground)

“3.98 Fratton Park will be safeguarded for use as a football stadium with the possibility for an

improved or new stadium.”

“3.100 This policy will be implemented through development management decisions and

infrastructure will be provided as part of the development. The council is also prepared to use

compulsory purchase powers if necessary” The council is also prepared to use

http://www.portsmouth.gov.uk/media/Portsmouth_Plan_(adoption)_(low_res).pdf

 

ROTFPMSL. You STILL don’t get it, do you. Chainrai paid nothing for the club. His original “loan” wasn’t to PFC, it was to Al Faraj/ Falcondrone, who, coincidentally, are based in the BVI, just like Chainrai’s company Portpin who made the loan. See anything fishy there? PFC never saw a penny from Chainrai. Do you not gt what’s happened here even after all this time?

 

Yeah, my mistake. I meant to type liquidation, not administration

 

PCC are working with the Trust to ensure that if a phoenix club has to be established then they’ll play at Fratton.

Ref the land, see earlier post. Tesco were willing to pay “up to” (as I originally posted) £20m. I assume that figure would have gone down by now but it would still attract a substantial fee. And before Johnnykins start posting about Tesco not building new stores, they’ve cut back on the numbers they’re building but are still building in some areas and Portsmouth is a key site for them.

He’s not pumping endless millions into the club. Do you investigative genius’ still not get this. PCC are already talking about CPO’s. How long is he prepared to wait and risk losing it that way? Not saying a buyer will come through in time but it makes no sense for Chainrai not to sell.

 

I didn’t say you were in trouble Gormless, I said IF they pulled out. And for those who have told me you’d be OK because you have assets to sell

1. By selling your best players wouldn’t that leave you in trouble anyway

2. Just how much do you currently owe?

3. What is your current wages to turnover ratio

4. How long will the Liebherr’s continue to finance you?

You all seem confident you have no worries, so I assume you can answer the above questions

 

 

You missed a bit - The council is also prepared to use compulsory purchase powers if necessary, in circumstances where the promoter of the development has secured adequate funding to support the compulsory purchase.

 

“Secured adequate funding”, now I may be wrong but I would hazard a guess that at this point it all starts going wrong (AGAIN).

[derry]

Andrew and Steve Surman are Saints supporters. Andrew didn't want to go but was persuaded by the club that the fee was needed to avoid liquidation. The source was Weston Saint who is friendly with Steve Surman.

[Weston Super Saint]

ROTFPMSL. You STILL don’t get it, do you. Chainrai paid nothing for the club. His original “loan” wasn’t to PFC, it was to Al Faraj/ Falcondrone, who, coincidentally, are based in the BVI, just like Chainrai’s company Portpin who made the loan. See anything fishy there? PFC never saw a penny from Chainrai. Do you not gt what’s happened here even after all this time?

 

PCC are working with the Trust to ensure that if a phoenix club has to be established then they’ll play at Fratton.

 

Ref the land, see earlier post. Tesco were willing to pay “up to” (as I originally posted) £20m. I assume that figure would have gone down by now but it would still attract a substantial fee. And before Johnnykins start posting about Tesco not building new stores, they’ve cut back on the numbers they’re building but are still building in some areas and Portsmouth is a key site for them.

 

So.....

 

Chinny paid nothing for the club at all - when I stated that about 500 pages ago I was called a bedwetting conspiracy theorist

 

Some reports say he paid £17m for the club - coincidentally the exact same figure he 'won' from daddy in his court case - so even if that cash went to the club it wasn't his anyway, so net outlay from Chinny of £0!

 

So, tell me, what exactly does he have to lose? He's paid nothing at all, and owns the stadium!

 

Whether he sells that to a developer or sells it to PCC under a CPO, he's still paid no money at all, and gets a few million in his back pocket for nothing. Is he better of ploughing millions of pounds into the club to keep it running until a buyer can be found, let's face it, you've been trying to find one for three years now and still no luck, or should he just liquidate the club in two weeks time, pay no money at all, and eventually receive a hefty wedge into his bank account?

 

I'm no hard nosed businessman like 'Arry is, but I know which option I'd take!

[Gemmel]

Rallyboys post is about right I think.

 

My personal view on what will happen is;

 

Chanrai will come back in and take over the club for nothing. The PL will stump up an advance on the parachute payments and that will sort out the tax man.

Csi will be liquidated and the 10 million lithuanian pension money will be forgotten about.

The club will go back up for sale imeadiately, but the summer will see any player of any value sold and maybe then we will see a new policy of "Playing the kids".

 

The land is a redherring for me, chinny wants cold hard cash and easiest way to that is through player sales.

 

We will have to wait and see about the points deductions, but I wouldn't hold my breath.

 

In about 5 years time, when the CVA finally finishes, the courts might have made some progress on the lithuanian funds.

[Sevvy]

Rallyboys post is about right I think.

 

My personal view on what will happen is;

 

Chanrai will come back in and take over the club for nothing. The PL will stump up an advance on the parachute payments and that will sort out the tax man.

Csi will be liquidated and the 10 million lithuanian pension money will be forgotten about.

The club will go back up for sale imeadiately, but the summer will see any player of any value sold and maybe then we will see a new policy of "Playing the kids".

 

The land is a redherring for me, chinny wants cold hard cash and easiest way to that is through player sales.

 

We will have to wait and see about the points deductions, but I wouldn't hold my breath.

 

In about 5 years time, when the CVA finally finishes, the courts might have made some progress on the lithuanian funds.

 

Thats if it has started paying out by then

[Winchester Red]

Rallyboys post is about right I think.

 

My personal view on what will happen is;

 

Chanrai will come back in and take over the club for nothing. The PL will stump up an advance on the parachute payments and that will sort out the tax man.

Csi will be liquidated and the 10 million lithuanian pension money will be forgotten about.

The club will go back up for sale imeadiately, but the summer will see any player of any value sold and maybe then we will see a new policy of "Playing the kids".

 

The land is a redherring for me, chinny wants cold hard cash and easiest way to that is through player sales.

 

We will have to wait and see about the points deductions, but I wouldn't hold my breath.

 

In about 5 years time, when the CVA finally finishes, the courts might have made some progress on the lithuanian funds.

 

All possible but a couple of questions:

 

1) The CVA, controlled by Baker Tilley, can not to my knowledge be renegotiated (unless maybe the club go into administration again). Chinney will have to pay that and run the club to the summer with 1 parachute payment and his own cash. I still think he needs to put in £8-10m to do that. If he wants cold hard cash out, I'm not sure that's a good approach.

2) Why should the PL forward parachute money now? They don't give a toss about PFC

 

???

Edited 6 February, 2012 by Winchester Red

[Guided Missile]

I didn’t say you were in trouble Gormless, I said IF they pulled out. And for those who have told me you’d be OK because you have assets to sell

1. By selling your best players wouldn’t that leave you in trouble anyway

2. Just how much do you currently owe?

3. What is your current wages to turnover ratio

4. How long will the Liebherr’s continue to finance you?

You all seem confident you have no worries, so I assume you can answer the above questions

Why the hell would I engage in a debate about football finances with a toy salesman who calls me gormless, because, if you're so f*** ing clever with finances, why aren't you rich, like me?

[derry]

I think the parachute dates are 1st August and 1st February. By my calculation 2010 - Aug £8m 2011 - Feb £8m Aug £8m 2012 - Feb £8m. That would make £32m covering the football debts and most of the PL advance. So it doesn't look like they received anything on 1st Feb. The next payment would be August 1st if my dates are correct. That means they have to finance another six months before a maximum payment of £4m is due, to last until Feb 2013. £4m to cover the next year doesn't work.

[Winchester Red]

Why the hell would I engage in a debate about football finances with a toy salesman who calls me gormless, because, if you're so f*** ing clever with finances, why aren't you rich, like me?

 

I think he'll find it difficult to misinterpret your point there!

 

[Gemmel]

All possible but a couple of questions:

 

1) The CVA, controlled by Baker Tilley, can not to my knowledge be renegotiated (unless maybe the club go into administration again). Chinney will have to pay that and run the club to the summer with 1 parachute payment and his own cash. I still think he needs to put in £8-10m to do that. If he wants cold hard cash out, I'm not sure that's a good approach.

2) Why should the PL forward parachute money now? They don't give a toss about PFC

 

???

 

Your right the CVA is not up for negociation, but the parachute money is the key to all of this. Ironically pompeys relegation was the first season that the parachutes payments went from 30 to 50 million. Without that bit of luck, the books would see another 20 million hole and there really would be no way out. But if we take it as red, that the remaining parchute money can clear the CVA, then chinny coming in and selling some players, is the only feasible way forward.

If he can raise 10 million (Big big ask) from player sales, he can sell the club for 5 million or whatever, I just don't think he wants the land and even if he did, it aint worth 17 million quid.

[Winchester Red]

Your right the CVA is not up for negociation, but the parachute money is the key to all of this. Ironically pompeys relegation was the first season that the parachutes payments went from 30 to 50 million. Without that bit of luck, the books would see another 20 million hole and there really would be no way out. But if we take it as red, that the remaining parchute money can clear the CVA, then chinny coming in and selling some players, is the only feasible way forward.

If he can raise 10 million (Big big ask) from player sales, he can sell the club for 5 million or whatever, I just don't think he wants the land and even if he did, it aint worth 17 million quid.

 

I think he'd need to put too much in without any certainty of getting enough out.

 

But he hasn't shut up shop yet so he must have something in mind (unless of course the end is very close indeed)

[trousers]

In about 5 years time, when the CVA finally finishes, the courts might have made some progress on the lithuanian funds.

 

You mean that this thread has got at least another 5 years to run? Jeepers creepers. I was hoping to get my life back in a couple of months!

[holepuncture]

 

Read the latest planning document (from page 62 onwards details the plans for the area around the ground)

“3.98 Fratton Park will be safeguarded for use as a football stadium with the possibility for an

improved or new stadium.”

“3.100 This policy will be implemented through development management decisions and

infrastructure will be provided as part of the development. The council is also prepared to use

compulsory purchase powers if necessary”

http://www.portsmouth.gov.uk/media/Portsmouth_Plan_(adoption)_(low_res).pdf

 

ROTFPMSL. You STILL don’t get it, do you. Chainrai paid nothing for the club. His original “loan” wasn’t to PFC, it was to Al Faraj/ Falcondrone, who, coincidentally, are based in the BVI, just like Chainrai’s company Portpin who made the loan. See anything fishy there? PFC never saw a penny from Chainrai. Do you not gt what’s happened here even after all this time?

 

 

 

He’s not pumping endless millions into the club. Do you investigative genius’ still not get this. PCC are already talking about CPO’s. How long is he prepared to wait and risk losing it that way? Not saying a buyer will come through in time but it makes no sense for Chainrai not to sell.

 

 

Its all good and well banging on about Compulsory Purchase Orders but even if that were to happen, you would still require £17m to pay back Chinny to release his debenture. He has made it perfectly clear, 'I am secure, I will get my money back'. It would be a scandal for the PCC to pay so much for a decrepid 'arena', £17m of local tax payers monies to pay off a BVI loan shark to buy a stadium worth, well, nothing at all - just scrap metal and some land beneath surrounded by a gun runners land.

 

Re: The Faraj, I think we can all see that is a scam and a disgrace at that. All a smokescreen as part of Gaddy vs Chinny in the £17 Israel dispute IMO. These shysters have the skin of a Rhino to pull off a scam like this on UK shores, and they (especially Gaddy) was all too aware of the loosely regulated and legally vulnerable honey pot that was PL broadcasting payments and parachutes.

 

Again, CPO is great if it is good value to the tax payer. SCC looked at purchasing St.Marys mortgage off Aviva, which would be a decent community asset at the price. Fratton would not provide value for money, it would cost money year on year to maintain and service - sorry but your coucil taxes would be better spent elsewhere dont ya thunk (hospitals, GPs, schools, elderly, needy etc)?

[trousers]

James Pearce @Pearcesport

Redknapp's barrister raises questions about the leaks from police inquiry into Redknapp and Mandaric during the investigation

 

Redknapp's barrister says Sun photographers tipped off about R's initial arrest + News of World had detail of much of police investigation

[pedg]

James Pearce @Pearcesport

Redknapp's barrister raises questions about the leaks from police inquiry into Redknapp and Mandaric during the investigation

 

Redknapp's barrister says Sun photographers tipped off about R's initial arrest + News of World had detail of much of police investigation

 

Is this the Leveson inquiry? Statements have no relevance to charges being answered.

[*Halo*]

Superb quote on there from Sky Sports' Sam Matterface

 

"Pompey fans are some of most passionate supporters in the world"

 

:lol:

 

he commentated on them for their local radio station for a few years, so hardly surprising he has a soft spot for them.

 

What an urban myth this has become that their fans are somehow more passionate or better than any others.

 

I have a Bury supporting mate who is about as passionate about his side as any fan could possibly be. He has travelled up and down the country watching lower league promotions and relegations for the last 25 years. But you never hear commentators suggesting Bury fans are amongst the most passionate in the world. Why ever not?

 

On The DCSB's wiki page, referring to Nottarf Krap, and their 'wonderful world class support', is this:

 

during a UEFA Cup game in 2008 AC Milan star Ronaldinho said that: "It is the best atmosphere in the world of football".^[48]

 

 

I'm sure he did say that, (even though following link "48" makes no mention of it that I could find)

I just expect that he was referring to the San Siro, rather than a ramshackle rusty eyesore at fratton.

 

'Best atmosphere in world football'.

 

I suspect clubs with truly awesome atmospheres, such as Crvena Zvezda, Beşiktaş, Fenerbahçe, Galatasaray, Paris St. Germain (before Laproux ruined it all anyway), Olympiakos, Wisła, (just for starters); would all have something to say about that particular title.

 

As an aside, whilst on the skates wiki page, I happened to notice that the title section seemed rather appropriate.

 

 

Not the only thing in portsmouth that could use cleaning up to meet quality standards.

[trousers]

Is this the Leveson inquiry? Statements have no relevance to charges being answered.

 

Nope. Redknapp/Mandaric trial

[pedg]

James Pearce @Pearcesport

Redknapp's barrister: "It's self evident that this only makes sense if Mr Redknapp is telling the truth"

 

 

I agree if we are talking about his taped interviews where he claims the payment was definitely a bonus.