OldNick Posted 7 February, 2012 Share Posted 7 February, 2012 My guess, they're waiting to hit them with all the points at the same time, rather than a few here and a few there.also I suggest that AA and Lampit have spun them the line that if they gave them a points penalty at this stage the club will be unsaleable and that they will go bust, therefore the league will lose its credibility. They have got the league over a barrel and so can play them Link to comment Share on other sites More sharing options...
Clapham Saint Posted 7 February, 2012 Share Posted 7 February, 2012 With regard to compulsory purchase... I don't know the letter of the law but I would assume that it has to be purchased for market value, or potentially a premium. On that basis I struggle to understand how this is being used as a reason that Chinny would be better off co-operating with a new purchaser. If he sits tight he either gets to sell FP to Tesco or to the council. Granted, he might get a slightly better deal if he can sell to Tesco, but even if he can't its still better than putting more money into the black hole. Link to comment Share on other sites More sharing options...
sussexsaint Posted 7 February, 2012 Share Posted 7 February, 2012 Are SSN still running that on their ticker? Link to comment Share on other sites More sharing options...
Winchester Red Posted 7 February, 2012 Share Posted 7 February, 2012 (edited) Obviously the FL would prefer the competition go the distance without a club going bust, but I'd be surprised if they'd be 'played' over it. I know they would have let PFC sink at any point in Mahwhinneys (sp?) days, in fact he'd have helped give them a kicking, but have they really softened to that extent? I think they're just biding their time, letting the story play itself out. As Hutch suggested, they want to add the whole penalty at one time, and when they know all the facts. With MP's getting involved where they shouldn't be it's even more important the FL are sure of their ground. How can they know all the facts at the moment? The story is still mid-chapter (even if it is the final chapter!) Edited 7 February, 2012 by Winchester Red Link to comment Share on other sites More sharing options...
suewhistle Posted 7 February, 2012 Share Posted 7 February, 2012 My guess, they're waiting to hit them with all the points at the same time, rather than a few here and a few there. That's a shame. How about 20 this season and 20 next? Link to comment Share on other sites More sharing options...
Winchester Red Posted 7 February, 2012 Share Posted 7 February, 2012 Are SSN still running that on their ticker? At 9.25am - The answer is still yes Link to comment Share on other sites More sharing options...
miserableoldgit Posted 7 February, 2012 Share Posted 7 February, 2012 Are SSN still running that on their ticker? Yes, just seen it. Link to comment Share on other sites More sharing options...
pedg Posted 7 February, 2012 Share Posted 7 February, 2012 Obviously the FL would prefer the competition go the distance without a club going bust, but I'd be surprised if they'd be 'played' over it. I know they would have let PFC sink at any point in Mahwhinneys (sp?) days, in fact he'd have helped give them a kicking, but have they really softened to that extent? I think they're just biding their time, letting the story play itself out. As Hutch suggested, they want to add the whole penalty at one time, and when they know all the facts. How can they know all the facts at the moment? The story is still mid-chapter (even if it is the final chapter!) There are some obvious teams who will be trying to make sure pompey last the season: those teams that have taken points off them. Prime amongst those would be West Ham (6 points) and Cardiff (4 points). Link to comment Share on other sites More sharing options...
rallyboy Posted 7 February, 2012 Share Posted 7 February, 2012 thanks Hutch, the whole thing is becoming so complex it is beyond the layman - but it won't stop Mr Layman offering a strong opinion! Harry - to be found guilty or not? I lean towards yes, but with a feeble sentence, and no knock on effect for a club blatantly riddled with financial irregularities for a decade. While the dog, as instigator of the whole scam, will be given 10 years. Link to comment Share on other sites More sharing options...
warsash saint Posted 7 February, 2012 Share Posted 7 February, 2012 So what do we all reckon will happen to poor old 'Arry today ?? My guesss, he will get off scott free & take over the England managers job in the next few weeks Link to comment Share on other sites More sharing options...
Winchester Red Posted 7 February, 2012 Share Posted 7 February, 2012 There are some obvious teams who will be trying to make sure pompey last the season: those teams that have taken points off them. Prime amongst those would be West Ham (6 points) and Cardiff (4 points). If it becomes an issue soon we can always claim that we'd have beaten them at home anyway, so we'd be in the 4 point category as well Cardiff and West Ham only have 2 votes anyway. There are 72 clubs in the FL Link to comment Share on other sites More sharing options...
Corporate Ho Posted 7 February, 2012 Share Posted 7 February, 2012 The problem is as I can see, is that HMRC is still a minor creditor. Pompey owe CSI £10m Pompey owe £20m to old company to pay CVA. Remember Pompey don't have a CVA but old company do Pompey owe £1.5 - £2m in tax to HMRC Pompey owe players and other expenses say £1m (Just randomly made up figure but just helps give an idea) So in all HMRC and other creditors in total are very small. So worst case senario is that they don't agree a CVA but in theory still could get away with it albeit with a say -30 points. I see no sense in Pomepy going into admin. It might guarantee Chainrai's status as a secured creditor but of what? The next time wages were due we'd default and the WUP would go in again. To get any money out of the club Chainrai has to fund us to the end of the season and then try and get money from player sales. But any money he made that way would be eclipsed by what he'd have to pay out to get there. In the event of the club being liquidated he gets nothing from player sales and nothing from the parachute payments, leaving him with just Fratton Park and nothing else. Seems to me that if UHY are doing their best to make the club go pop (and i'm not convinced they are), then perhaps that is also what Chainrai is aiming for. As the preferred creditor, he's first in line to get anything out of the assets, which presumably includes the 400k raised in the transfer window. Everyone assumes he needs to get £17m out of the club and so has to stick around. But there are two reasons this is unlikely: 1 - as a shrewd businessman (clearly very wealthy, and not by accident), he'll always be looking to maximise his return, irrespective of sunk costs. With old CVA looming and new debts mounting up, he may at this point be prepared to cut his losses. 2 - if he's been charging interest for the last 2 years (what loan shark wouldn't have?) then perhaps he's not actually 17m in a hole anyway. If the club is liquidated, then he has a more than reasonable chance of selling FP for development. Is it worth £20m? Not a chance. But £3-5m might be enough incentive for him to go down that route. Especially as it is arguably the lowest risk option of all at this point... So, why wouldn't he sell to someone now if they bid more than Fratton Park's worth to him? It's book value was set at £7m but I'm told that's for tax reasons and it's true land value is no more than £3 - £4m. Even then he'd probably be lucky to get that for it as any developer knows PCC would tie any planning application up in red tape for several years. So, as I've said before, he really needs to sell it now and for a figure way, way below the £17m you lot and UHY have been quoting The only way it differs from Ho's ramblings is in acknowledging that Chainrai's debenture and charge do indeed exist - more than I've ever seen Ho do. And why is it that so many of the few find it so hard to understand that, should Pompey be liquidated, ownership of Fratton Park will revert to the charge-holder, namely Portpin? It won't be an asset of a liquidated company, it will belong to Portpin, pretty much as it does now. See my post above. Why would he want to keep it? With regard to compulsory purchase... I don't know the letter of the law but I would assume that it has to be purchased for market value, or potentially a premium. On that basis I struggle to understand how this is being used as a reason that Chinny would be better off co-operating with a new purchaser. If he sits tight he either gets to sell FP to Tesco or to the council. Granted, he might get a slightly better deal if he can sell to Tesco, but even if he can't its still better than putting more money into the black hole. Clappers, he won't put more money in (if he's ever put any in before which I dispute). So if he doesn't what does he get? Fratton Park that's virtually worthless to him. I suspect we'll get a buyer but it will probably b very late as both sides play a game of brinkmanship. But if we don't get one, Chainrai loses an awful lot of money that he was counting on (the £17m from CSI). As I said above, the most he'll get is £3-£4m. And if he can get more than that from someone prepared to tak on the club why not sell? Link to comment Share on other sites More sharing options...
pedg Posted 7 February, 2012 Share Posted 7 February, 2012 Harry - to be found guilty or not? I lean towards yes, but with a feeble sentence, and no knock on effect for a club blatantly riddled with financial irregularities for a decade. While the dog, as instigator of the whole scam, will be given 10 years. If the jury find him guilty then its up to the judge to sentence and there it appears there is a fairly strict range of punishments for the crime so he will either get away scot free or will go to jail. Link to comment Share on other sites More sharing options...
saint si Posted 7 February, 2012 Share Posted 7 February, 2012 So, why wouldn't he sell to someone now if they bid more than Fratton Park's worth to him? It's book value was set at £7m but I'm told that's for tax reasons and it's true land value is no more than £3 - £4m. Even then he'd probably be lucky to get that for it as any developer knows PCC would tie any planning application up in red tape for several years. So, as I've said before, he really needs to sell it now and for a figure way, way below the £17m you lot and UHY have been quoting If PFC2010 is liquidated, the market value of the land increases significantly. Any protection or designated use the land has is much more likely to apply while the club exists than while it doesn't. Why not let the club die, sell whatever assets he can and pocket the cash, petition to get the right to build on the land, and then sell it as such? Link to comment Share on other sites More sharing options...
Winchester Red Posted 7 February, 2012 Share Posted 7 February, 2012 (edited) You have to admire the criminal mastermind which is Rosie. Faking her own death and framing poor Harry, before disappearing somewhere tropical to live our her days and leaving him to carry the can. Couldn't have happened at a worse time for him either, with Fabio about to walk. Wait.... maybe that's it.... the point of the whole dastardly scheme!!! Maybe she's somehow behind John Terry's outburst too!!! (Rosie: Hello Johnnie boy, remember me, yes? Rosie? We met at the dog and duck and then.... Well yes, I know you'd had a lot to drink. JT: Didn't we...? Yes.....Nooooooooooooooo. Rosie: Ok Johnnie, this is what you're going to do...) Maybe Rosie is going to come back from the death, claim that Harry locked her in the cellar 5 years ago. That's it! She's planning to step into the England job just in time for the Euros, to make sure we don't play like dogs again! Conspiracy theory you think! What better way to raise national pride at this time of hardship? A bulldog managing the national team to Euro success!! Arise Dame Rosie (47) Redknapp Services to UK Sport and ridding the world of Redknapp and JT in one swoop Genius (Ok, it's been a long night....zzzzzzz) Edited 7 February, 2012 by Winchester Red Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 7 February, 2012 Share Posted 7 February, 2012 I see no sense in Pomepy going into admin. It might guarantee Chainrai's status as a secured creditor but of what? The next time wages were due we'd default and the WUP would go in again. To get any money out of the club Chainrai has to fund us to the end of the season and then try and get money from player sales. But any money he made that way would be eclipsed by what he'd have to pay out to get there. In the event of the club being liquidated he gets nothing from player sales and nothing from the parachute payments, leaving him with just Fratton Park and nothing else. So, why wouldn't he sell to someone now if they bid more than Fratton Park's worth to him? It's book value was set at £7m but I'm told that's for tax reasons and it's true land value is no more than £3 - £4m. Even then he'd probably be lucky to get that for it as any developer knows PCC would tie any planning application up in red tape for several years. So, as I've said before, he really needs to sell it now and for a figure way, way below the £17m you lot and UHY have been quoting See my post above. Why would he want to keep it? Clappers, he won't put more money in (if he's ever put any in before which I dispute). So if he doesn't what does he get? Fratton Park that's virtually worthless to him. I suspect we'll get a buyer but it will probably b very late as both sides play a game of brinkmanship. But if we don't get one, Chainrai loses an awful lot of money that he was counting on (the £17m from CSI). As I said above, the most he'll get is £3-£4m. And if he can get more than that from someone prepared to tak on the club why not sell? It's ONE thing him wanting to sell - for whatever price. It's another thing finding a BUYER of course. I don't buy the whole AA in Chinny's pocket as was alluded many moons ago - yes he is the administrator of 'choice', but if he knew Chinny was in the market to sell, he wouldn't try to scare the Supporters Trust off with the '£100M of funds' malarkey. It comes down to this - Chinny's in control and there's NOTHING any Pompey fan can do about it. Link to comment Share on other sites More sharing options...
Gemmel Posted 7 February, 2012 Share Posted 7 February, 2012 I agree with corp:scared: I couldn't find any reason why administration would benefit them, but it has certainly been talked up this week by android and in an interview with appleton today he says he wants to get as many points on the board in case the worse happens with a points deduction. So the only possible reason at the moment would be to protect against the WUP, which would still need paying, so someone (Chinny or advanced parachute money)) is going to have to stump up the money at somepoint, so why incur a points deduction and lower the value of the club? lumpitt could have raised 2 milllion in the january transfer window. He chose not too.......... He must be confident of a sale or getting his hands on the parachute money. Link to comment Share on other sites More sharing options...
Winchester Red Posted 7 February, 2012 Share Posted 7 February, 2012 It's ONE thing him wanting to sell - for whatever price. It's another thing finding a BUYER of course. I don't buy the whole AA in Chinny's pocket as was alluded many moons ago - yes he is the administrator of 'choice', but if he knew Chinny was in the market to sell, he wouldn't try to scare the Supporters Trust off with the '£100M of funds' malarkey. It comes down to this - Chinny's in control and there's NOTHING any Pompey fan can do about it. I don't think it's in AA's interests (or timescale) to have some pie in the sky supporters group getting the media and MP's even more wound up, when there's no chance of them coming up with any serious money and it'll slow his plans to wind them up. He's just trying to kill it early Link to comment Share on other sites More sharing options...
Gemmel Posted 7 February, 2012 Share Posted 7 February, 2012 Andronikou asks for council funds to help Pompey By Joe Nimmo Published on Tuesday 7 February 2012 09:29 ANDREW Andronikou has asked Portsmouth City Council if it could contribute funds to help Pompey. At a meeting with council leader, Cllr Gerald Vernon-Jackson, and council chief executive David Williams, the Convers Sports Initiatives administrator raised the subject of whether the local authority could directly assist the embattled football club. The men met at the Marriott hotel, in North Harbour, on Friday at Mr Andronikou’s request so he could provide an update on the administration of CSI and its effect on Pompey. The meeting came as Cllr Vernon-Jackson said he would write to Prime Minister David Cameron to ask that HMRC’s winding-up petition be withdrawn. He said: ‘We were talking about what is going on in terms of the administration of CSI. ‘Mr Andronikou is clearly not happy to be having to do this work again. ‘His inevitable question was “would the council put in money?” and I said no; the council doesn’t have any money.’ He added: ‘His job is to be working in the interests of the creditors and our interest is in safeguarding the football club and those two interests are not always the same thing. ‘What I’m absolutely convinced of is that David Lampitt and the people at the football club are working as hard as possible to try to find a long-term solution for the football club.’ Cllr Vernon-Jackson said that he also felt the Prime Minister should follow through on his words last week in the House of Commons, when he told Portsmouth North MP Penny Mordaunt he would try and help the club. ‘I think it is important that if the Prime Minister offers help that action follows that,’ he said. ‘He is the head of the government and HMRC is a branch of that government. ‘So if he tells them to withdraw their winding-up petition them presumably they have to do what they are told. ‘It would give Pompey more time and it would be the right thing to do, because we are not in this situation because of anything the club has done. ‘This is down to its parent company and is different than last time.’ Following a News-backed meeting of fans and city leaders two weeks ago, the CSI administrator has now agreed to meet fans’ groups trying to save the club, but no date has yet been set for this to take place http://www.portsmouth.co.uk/sport/pompey/pompey-past/andronikou_asks_for_council_funds_to_help_pompey_1_3494391 Link to comment Share on other sites More sharing options...
Frank's cousin Posted 7 February, 2012 Share Posted 7 February, 2012 If he can get more than that from someone prepared to tak on the club why not sell? Indeed, and I am sure there would be some mad takers at a pound + taking on the debt, but its the level of cash Chinny wants that is likely to scupper any deal. In effect the ONLY security he has right now is Portpin's charge on the land on which the rust bucket sits which is worth around 3-5mil WITH development rights, without them probably alot less. Seriously, I think the best way forward is to get rid of chinney one way or another - even if it meant ground sharing somewhere, folllowing admin to get the club independent again, taking the penalties, using teh paracute money to survive until the summer, getting rid of the big earners and then renegotiating a better CVA that will give more back (so they agree) to the creditors but over a longer period and having a senisible well manged financial policy that begins repayments NOW. delaying repayment on the CVA always results in some chancer spending on contracts now that would not be sustainable once repayments kick in on the off chance of promotion and thus ending in the same mess again. NOt only would this rid you of chinney and gaydamrk, in that tehir land ownership becomes irrelevent, but we could all watch the council put their moeny where their (vote winning) mouth is and find you a new place to play. And as for worying aboout the history and legacy of FP? I would have thought removing the stain of the recent history of the dodgy shenanigans revolvong around that rust bucket, would be a prioce worth paying to get Chinney and Gaydamark out teh picture once and for all. Link to comment Share on other sites More sharing options...
stevegrant Posted 7 February, 2012 Share Posted 7 February, 2012 You've got to hand it to AA, he has brass balls. ****ing hell. Link to comment Share on other sites More sharing options...
Winchester Red Posted 7 February, 2012 Share Posted 7 February, 2012 That's a double bluff 'Put in some money', 'no?', 'well f*ck off and keep your nose out then' As for the PM telling HMRC to withdraw their winding up petition. Well, I don't have much faith left in those running the country, but that would just about tip me over the edge. Let's just open the door for every football club that's struggling to pay it's tax to not bother. Or are they suggesting the PFC is a special case, the bestest case in fact. Pathetic! Link to comment Share on other sites More sharing options...
Winchester Red Posted 7 February, 2012 Share Posted 7 February, 2012 Irony too. Council leader: We're not putting any part of our locally collected taxes in to help our own club, but we think the national purse should take a hit on our behalf. Link to comment Share on other sites More sharing options...
Hatch Posted 7 February, 2012 Share Posted 7 February, 2012 Did 'Arry genuinely not make it to last nights match, or has he had the nod from his brief that things are not looking to good for him , so decided to spent one last night with Sandra? Link to comment Share on other sites More sharing options...
Gemmel Posted 7 February, 2012 Share Posted 7 February, 2012 You've got to hand it to AA, he has brass balls. ****ing hell. He certainly has. It would suggest that the situation is as serious as it gets, if has resorted to that. Which begs the question, why the fook didn't lampit selll in the transfer window. Link to comment Share on other sites More sharing options...
Kingsland Red Posted 7 February, 2012 Share Posted 7 February, 2012 Did 'Arry genuinely not make it to last nights match, or has he had the nod from his brief that things are not looking to good for him , so decided to spent one last night with Sandra? Flight cancelled ! Link to comment Share on other sites More sharing options...
pedg Posted 7 February, 2012 Share Posted 7 February, 2012 Anyone know if their team has set of for the hitch-hike to brum yet? Link to comment Share on other sites More sharing options...
Kingsland Red Posted 7 February, 2012 Share Posted 7 February, 2012 Andronikou asks for council funds to help Pompey By Joe Nimmo Published on Tuesday 7 February 2012 09:29 ANDREW Andronikou has asked Portsmouth City Council if it could contribute funds to help Pompey. At a meeting with council leader, Cllr Gerald Vernon-Jackson, and council chief executive David Williams, the Convers Sports Initiatives administrator raised the subject of whether the local authority could directly assist the embattled football club. The men met at the Marriott hotel, in North Harbour, on Friday at Mr Andronikou’s request so he could provide an update on the administration of CSI and its effect on Pompey. The meeting came as Cllr Vernon-Jackson said he would write to Prime Minister David Cameron to ask that HMRC’s winding-up petition be withdrawn. He said: ‘We were talking about what is going on in terms of the administration of CSI. ‘Mr Andronikou is clearly not happy to be having to do this work again. ‘His inevitable question was “would the council put in money?” and I said no; the council doesn’t have any money.’ He added: ‘His job is to be working in the interests of the creditors and our interest is in safeguarding the football club and those two interests are not always the same thing. ‘What I’m absolutely convinced of is that David Lampitt and the people at the football club are working as hard as possible to try to find a long-term solution for the football club.’ Cllr Vernon-Jackson said that he also felt the Prime Minister should follow through on his words last week in the House of Commons, when he told Portsmouth North MP Penny Mordaunt he would try and help the club. ‘I think it is important that if the Prime Minister offers help that action follows that,’ he said. ‘He is the head of the government and HMRC is a branch of that government. ‘So if he tells them to withdraw their winding-up petition them presumably they have to do what they are told. ‘It would give Pompey more time and it would be the right thing to do, because we are not in this situation because of anything the club has done. ‘This is down to its parent company and is different than last time.’ Following a News-backed meeting of fans and city leaders two weeks ago, the CSI administrator has now agreed to meet fans’ groups trying to save the club, but no date has yet been set for this to take place http://www.portsmouth.co.uk/sport/pompey/pompey-past/andronikou_asks_for_council_funds_to_help_pompey_1_3494391 Interesting the way AA puts the onus on DL, who is proving to either be a fly on the wall or a chocolate teapot CEO depending on which way you look at it. Link to comment Share on other sites More sharing options...
saint si Posted 7 February, 2012 Share Posted 7 February, 2012 ‘I think it is important that if the Prime Minister offers help that action follows that,’ he said. ‘He is the head of the government and HMRC is a branch of that government. ‘So if he tells them to withdraw their winding-up petition them presumably they have to do what they are told. Wow. Just wow. That quote is from a councillor. The day that the PM can dictate to the civil service how to operate is the day we have a de facto dictator. Link to comment Share on other sites More sharing options...
Hatch Posted 7 February, 2012 Share Posted 7 February, 2012 Flight cancelled ! mmmmmmmmmmm....convenient. Link to comment Share on other sites More sharing options...
bridge too far Posted 7 February, 2012 Share Posted 7 February, 2012 HMRC has certainly grown some http://www.bbc.co.uk/news/uk-scotland-scotland-business-16926114 Link to comment Share on other sites More sharing options...
Wadge Posted 7 February, 2012 Share Posted 7 February, 2012 HMRC has certainly grown some http://www.bbc.co.uk/news/uk-scotland-scotland-business-16926114 And so they should, dunno why football clubs get special treatment, just because the have loads of supporters. Lots of companies have loads of shareholders but they are not considered if a company doesn't pay its tax and Revenue go after them. Link to comment Share on other sites More sharing options...
Saint-scooby Posted 7 February, 2012 Share Posted 7 February, 2012 Here is todays list, its beggars belief one club should ask for special treatment , poor old Kettering town FC, think we will have a whip round for them instead http://www.justice.gov.uk/guidance/courts-and-tribunals/courts/hearing-lists/list-companies-winding-up.htm Link to comment Share on other sites More sharing options...
pedg Posted 7 February, 2012 Share Posted 7 February, 2012 David Brown @DavidhBrown #Redknapp: Judge tells jury not to speculate who were named during trial but not called to give evidence. Posted by @timesnewsdesk #Redknapp: Judge tells jury in tax evasion trial: "Whatever your own opinions about football, ignore them" Posted by @timesnewsdesk Link to comment Share on other sites More sharing options...
warsash saint Posted 7 February, 2012 Share Posted 7 February, 2012 Andronikou asks for council funds to help Pompey By Joe Nimmo Published on Tuesday 7 February 2012 09:29 ‘ because we are not in this situation because of anything the club has done.’ Errrr.... could you have sold last week to raise the capital to pay the tax man ??!! Link to comment Share on other sites More sharing options...
pedg Posted 7 February, 2012 Share Posted 7 February, 2012 Judge says Spurs boss and former Pompey owner Milan Mandaric are both "men of good character." Posted by@timesnewsdesk #Redknapp: Judge tells jury "It is on evidence not sympathy that you must base your verdict." Via @timesnewsdesk Link to comment Share on other sites More sharing options...
pedg Posted 7 February, 2012 Share Posted 7 February, 2012 James Pearce @Pearcesport Judge says both Redknapp and Mandaric are of 'good character' and tells jury that might mean more likely they should believe their evidence I think he might get away with it.. Link to comment Share on other sites More sharing options...
Whitey Grandad Posted 7 February, 2012 Share Posted 7 February, 2012 Wow. Just wow. That quote is from a councillor. The day that the PM can dictate to the civil service how to operate is the day we have a de facto dictator. The PM's not that stupid. Every tax-paying supporter of every other football club will want to know why their taxes are going to support a load of cheating losers. Link to comment Share on other sites More sharing options...
sussexsaint Posted 7 February, 2012 Share Posted 7 February, 2012 Wow. Just wow. That quote is from a councillor. The day that the PM can dictate to the civil service how to operate is the day we have a de facto dictator. Absolutely spot on and the mere fact he has backed the action is a spit in the eye to every honest businessman who has gone to the wall in difficult financial times. Also re Redknapp - we are now painfully aware how much money he has and I'm quite sure it was within his means to charter a private flight if he was so inclined Link to comment Share on other sites More sharing options...
trousers Posted 7 February, 2012 Share Posted 7 February, 2012 Andronikou asks for council funds to help Pompey By Joe Nimmo Published on Tuesday 7 February 2012 09:29 ANDREW Andronikou has asked Portsmouth City Council if it could contribute funds to help Pompey. At a meeting with council leader, Cllr Gerald Vernon-Jackson, and council chief executive David Williams, the Convers Sports Initiatives administrator raised the subject of whether the local authority could directly assist the embattled football club. The men met at the Marriott hotel, in North Harbour, on Friday at Mr Andronikou’s request so he could provide an update on the administration of CSI and its effect on Pompey. The meeting came as Cllr Vernon-Jackson said he would write to Prime Minister David Cameron to ask that HMRC’s winding-up petition be withdrawn. He said: ‘We were talking about what is going on in terms of the administration of CSI. ‘Mr Andronikou is clearly not happy to be having to do this work again. ‘His inevitable question was “would the council put in money?” and I said no; the council doesn’t have any money.’ He added: ‘His job is to be working in the interests of the creditors and our interest is in safeguarding the football club and those two interests are not always the same thing. ‘What I’m absolutely convinced of is that David Lampitt and the people at the football club are working as hard as possible to try to find a long-term solution for the football club.’ Cllr Vernon-Jackson said that he also felt the Prime Minister should follow through on his words last week in the House of Commons, when he told Portsmouth North MP Penny Mordaunt he would try and help the club. ‘I think it is important that if the Prime Minister offers help that action follows that,’ he said. ‘He is the head of the government and HMRC is a branch of that government. ‘So if he tells them to withdraw their winding-up petition them presumably they have to do what they are told. ‘It would give Pompey more time and it would be the right thing to do, because we are not in this situation because of anything the club has done. ‘This is down to its parent company and is different than last time.’ Following a News-backed meeting of fans and city leaders two weeks ago, the CSI administrator has now agreed to meet fans’ groups trying to save the club, but no date has yet been set for this to take place http://www.portsmouth.co.uk/sport/pompey/pompey-past/andronikou_asks_for_council_funds_to_help_pompey_1_3494391 For ****'s Sake. Link to comment Share on other sites More sharing options...
Toomer Posted 7 February, 2012 Share Posted 7 February, 2012 James Pearce @Pearcesport Judge says both Redknapp and Mandaric are of 'good character' and tells jury that might mean more likely they should believe their evidence I think he might get away with it.. I have thought that all along if he fell into sh!t he would come up smelling of Rosie (roses). Link to comment Share on other sites More sharing options...
tony13579 Posted 7 February, 2012 Share Posted 7 February, 2012 (edited) http://www.portsmouth.co.uk/sport/pompey/pompey-past/andronikou_asks_for_council_funds_to_help_pompey_1_3494391 Please Mr PM, we know we did the tax man over for quite a few million last year but can we have quite a few million more to pay over paid millionaire end-of-career footballers and to keep a gun dealers son sweet, not to mention an international loan shark. We know we are not trading solvently, and if you ignore the millions of unpaid tax and small businesses and charities, we turn over millions. We bring a huge amount to the local economy. (if you ignore the schools and charities and small businesses we stuffed last year. Please can you also ask the local councils to purchase us a bit of land and a stadium would be nice too. We promise to rent it back to you for the world cup etc. AA (not the administrator for PFC, honest gov) Edited 7 February, 2012 by tony13579 Link to comment Share on other sites More sharing options...
rallyboy Posted 7 February, 2012 Share Posted 7 February, 2012 its that denial again - the club is where it is because of the management in the last year!! It was obvious to a retarded chimp with extra special learning difficulties that quality over quantity was a recipe for insolvency - even us nutjobs on here pointed that out when it started - the kitman's son knew that, even Ho's ITK who he sees every few weeks socially must have had reservations about the policy! But not the boss, with the full support of the fans he brought in loads of overpaid players, outbidding proper businesses and annoying other managers along the way. Lampitt sanctioned crazy contracts that the business couldn't sustain, so no one should pretend that this is history catching up, it's the present. But the nasty owners lost their funding, it wasn't our fault, again... They were criminals on day one when you got into bed with them, what did you think would happen?? It was the frickin mafia for god's sake, they were always going to get caught or kill someone, either way it wasn't good company to be in! It was also very clear that if someone serves a winding up petition they are serious about getting their money, so not attempting to raise any last week was an aggressive act likely to harden the resolve of the taxman - one might suggest that it looks like Lampitt flicked the Vs at HMRC. There is no sympathy for a business that portrays itself as a victim when the facts suggest otherwise. Ditto the fans - if you want the cup you can't distance yourself from the criminality that surrounded the purchase - nor rewrite the timeline to avoid earlier wrongdoing. Many of the few slag off Redknapp and the arms dealer, the guys that bought the cup - you can't be selective about which bit of history you want to keep. Link to comment Share on other sites More sharing options...
swannymere Posted 7 February, 2012 Share Posted 7 February, 2012 Redknapp is going to get away with it again and walk into the England job, what a slap in the face for football fans. Link to comment Share on other sites More sharing options...
pedg Posted 7 February, 2012 Share Posted 7 February, 2012 Before break judge told jury he was more than halfway through summing up. Looks like jury will start considering verdicts at around 1230 Link to comment Share on other sites More sharing options...
Frank's cousin Posted 7 February, 2012 Share Posted 7 February, 2012 ‘It would give Pompey more time and it would be the right thing to do, because we are not in this situation because of anything the club has done. ‘This is down to its parent company and is different than last time.’ THis is the MOST annoying aspect of the whole sage that anyone connected to the club fails to understand time and time again. IT IS teh club who have got tehmeselves in this mess, by agreeing to contracts and signing players that were ONLY susptainable from a third party - a third party who they KNEW did not have a huge amount of liquidity, otherwise they would have paid chinney in full when they bought the club and been rid of at least one of the characters they now like to hate. NO ONE forced the club to make those contracts in an effort to try and gain a footballing competitive advnatage, THEY CHOSE to. The clubs directors (not owners) made those contracts knowing exactly the background to CSI and its owners. It is encumbant on teh directors of any business to do due diligence on the sources of any funding before making such committments. The ignorance and stupidity of teh cpouncil, that MP and the club's directors and fans and media who lap it up as part of the 'poor old plucky pompey' sheidt we are inundated with is breathtaking. Jeez... This is a football club, that borrowed money from its owners tio buy a competitive advantage, thus entering big contracts - the owners stop giving them cash on account of their own admin and suddenly we are meant to feel sorry for them? after walkinga way only 2 years ago from 100mil of debt? WTF.... Yes Corps, if you look at our figures, Liebherr (RIP) placed the monies for the purchase (clearing the debts to an agreed amount with the 2 creditors) on the books of the club as a loan to be repaid in not less than 5 years. BUT and its a big but, where we differ is in a) that the source of this cash is totaly transparent, b) it was used to clear the debt, and c) the investment was in part in infrastructure d) since then there has been a fair bit or revenue in in terms of sales - e) there is a robust and ethical business plan in place... Link to comment Share on other sites More sharing options...
Gemmel Posted 7 February, 2012 Share Posted 7 February, 2012 Yes Corps' date=' if you look at our figures, Liebherr (RIP) placed the monies for the purchase (clearing the debts to an agreed amount with the 2 creditors) on the books of the club as a loan to be repaid in not less than 5 years. BUT and its a big but, where we differ is in a) that the source of this cash is totaly transparent, b) it was used to clear the debt, and c) the investment was in part in infrastructure d) since then there has been a fair bit or revenue in in terms of sales - e) there is a robust and ethical business plan in place...[/quote'] It is more simple that than Frank. Our assets out weigh the loan note. When that ceases to be the case, then questions will be asked, but it certainly won't be in the forseable future (Especially if some bizarre report that part of the area by Jacksons farm, is being examined for oil!!) Link to comment Share on other sites More sharing options...
EastleighSoulBoy Posted 7 February, 2012 Share Posted 7 February, 2012 Indeed... A tale of 2 cities ...it was the best of times ....it was the worst of times absolutely pathetic There...that's better! Link to comment Share on other sites More sharing options...
pedg Posted 7 February, 2012 Share Posted 7 February, 2012 Interesting snippet off twitter with reference to the "Good Character" bit... the #Redknapp case - a "Good character" direction is a legal requirement for individuals with no relevant previous convictions. Link to comment Share on other sites More sharing options...
Sevvy Posted 7 February, 2012 Share Posted 7 February, 2012 http://news.bbc.co.uk/sport1/hi/football/16710949.stm Probably been posted on here before, but if not it is a very good read, Link to comment Share on other sites More sharing options...
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