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Pompey Takeover Saga


Fitzhugh Fella

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The owners and Directors test, formerly the Fit and Proper Persons Test is a double edged sword for the FA. The deluded phew seem to think that it is a test of financial capacity to pay debt, when in fact it is the equivalent of a CRB check. It is to make sure that the directors haven't been banned for a previous insolvency event and to make sure that they don't have criminal records.

 

It isn't a test to see how good you are at running a business sustainably, or how much money you have. The FA can't risk turning potential owners away because of hearsay or rumours because they'd get sued for defamation. They can't turn someone away because they don't have deep pockets because the business plan might be to run a club sustainably and only within its means, even if that means the club is not particularly competitive.

 

It needs to be dropped, or at least be explained properly that it is just a formality that means very little.

 

Ignoring the fact that as a limited company it is the club directors responsibility to carry out due diligence on new owners; as someone pointed out on here a few hundred pages ago the FPPT clearly works very well, PFC got new owners who were fit and proper for PFC, and who maintained the fine traditions of running the club in the manner of their predecessors.

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http://www.portsmouth.co.uk/sport/pompey/pompey-past/appy_i_want_to_hear_from_football_league_1_3518067?commentssort=1&commentspage=0

 

The comments really do crack me up on this story. We have to have a squad of 20, it's mandatory (even if the club can't afford it). It's all the FA's fault for letting the owners take over.

 

I think that they should take on more players, just to really prove to the judges on Friday and Monday that they're trading while in solvent.

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So with the minimum -10 they are now out of the relegation zone on goal difference only?

 

We need Forest, Donny or Cov to go on a run so we can relegate the skates at SMS.

Cov won tonight so go level with the skates. Forest need to sack the clot
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Previously thought if they con everyone and get away with just a 10 point deduction they'd stay up. After tonight, not so sure! Still blatant cheating to be competing with players they can't afford, but they could struggle. Depends if Forest get a proper manager in really.

 

Depends if the administrator arranges for some of their players loans to other clubs. If their squad gets even smaller to save on the wages, then they're in massive trouble.

 

Also that thug Etuhu is on a month-by-month approval from the FA, so he'll be gone as soon as the month is up.

 

They'll end up with the kit man's son on the bench.

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They'll end up with the kit man's son on the bench.
and that is exactly what should happen if a club goes into admin. They should have to deploy other members of staff to play before they can employ any new players. No new members of staff should be allowed in any capacity ensuring `players' don't sneak in through the back door.
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several thousand skates still in the ground protesting. Keeping those floodlights on longer won't help the leccy bill.

 

There is probably an SSE electrician waiting, for safety reasons, to pull the fuses after the fans have all left. Then they'll have to pay a reconnection charge as well as paying the bill... We can dream...

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There is probably an SSE electrician waiting, for safety reasons, to pull the fuses after the fans have all left. Then they'll have to pay a reconnection charge as well as paying the bill... We can dream...

 

From SSE's response to BBC Watchdog's investigation of energy suppliers

http://www.bbc.co.uk/blogs/watchdog/2011/10/energy_switching.html

"For the winter period (December to February), SSE will not disconnect the gas or electricity supply of any customer, unless there are issues of safety or criminality involved."

Well, its not as if pulling the fuses would cause physical hardship. And next month is March, from whence SSE can presumably disconnect defaulting customers at their discretion.

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I recognise a few agent provocateurs among the commenters on the snooze site, all of whom are surprised at the 'bestest' tag but only 14,000 in the shed.

 

So how many extra punters did the Pack the Park achieve then? Or did numbers actually go down.....!!!!!!

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Our home match is far too far from the end of the season for us to relegate them that day (assuming they get just the -10).

 

However, it's conceivable that they might still be needing points on the last day of the season. If our league position was secure going into that game, and if Coventry could still overtake the skates... what price a Saints home loss on the final day of the league season?

 

Lots of "ifs" in all that - but non implausible.

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I just can't see how the court will let them go into admin, what are they going to say? OK, so we're cash flow insolvent and balance sheet insolvent and we renegotiated our debts a couple of years ago and our outgoings are more than our income, but if you give us a bit more time we promise not to do it again next time?

 

Insolvency courts regularly shut down businesses where there are unfinished orders which results in that stock having a much lower value. Also trading whilst insolvent under either definition is illegal. They appear to fulfill both definitions.

 

The statement of affairs presented to the court on Friday will make amusing reading because they surely can't present one that shows their insolvency.

 

The above is my take on it also. They appear to be in trouble at the court on Friday.

 

If the judge were to take a middle ground position and grant Pompey administration but refuse the choice of UHI Hacker Young (i.e. AA) as chosen administrator in favour of an HMRC or court appointed choice of administrator (which is allowable) I think Chinny would consider winding up Pompey as a CSI asset in any case, perhaps after an independent administrator had offloaded some Pompey outgoings under a judicial order for PR purposes.

Edited by TopGun
refinement
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The above is my take on it also. They can't have both at the court on Friday.

 

If the judge were to take a middle ground position and grant Pompey administration but refuse the choice of UHI Hacker Young (i.e. AA) as chosen administrator in favour of an HMRC choice of administrator (which is allowable) I think Chinny would consider winding up Pompey as a CSI asset in any case, perhaps after an independent administrator had offloaded some Pompey outgoings under a judicial order.

 

Particularly if he catches sight of those charming posters issued by the phew tonight

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I recall being miffed that we only generated 27K for our big call to action, but 14K tonight is poor.

The south coast attendance debate is definitely over.

 

Yes there are reasons to stay away, but if you keep peddling the fantasy about the bestest and magnificent support etc but can't back it up, then people will laugh when it doesn't happen.

They need to accept that all fans care about their clubs equally, yes the few are special, but not in a good way.

 

So let's hear no more of the media myth about how great they are, because they are clearly not.

 

As for the greedy trio who refused to leave, they certainly showed Ipswich didn't they!

Lots of talk, not a lot of walk - time to strengthen, bring in some emergency loans on £15K a week.

 

Cue more boring cliched media stories about 'battling pompey', 'Appleton's troops', 'Fortress Fratton', 'the magnificent fans keeping the spirit alive'.

But we know the truth.

 

Just get Plan B up and running and leave all the PR spin and sh1t behind. :)

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I recall being miffed that we only generated 27K for our big call to action, but 14K tonight is poor.

The south coast attendance debate is definitely over.

 

Yes there are reasons to stay away, but if you keep peddling the fantasy about the bestest and magnificent support etc but can't back it up, then people will laugh when it doesn't happen.

They need to accept that all fans care about their clubs equally, yes the few are special, but not in a good way.

 

So let's hear no more of the media myth about how great they are, because they are clearly not.

 

As for the greedy trio who refused to leave, they certainly showed Ipswich didn't they!

Lots of talk, not a lot of walk - time to strengthen, bring in some emergency loans on £15K a week.

 

Cue more boring cliched media stories about 'battling pompey', 'Appleton's troops', 'Fortress Fratton', 'the magnificent fans keeping the spirit alive'.

But we know the truth.

 

Just get Plan B up and running and leave all the PR spin and sh1t behind. :)

 

This. Just about sums it up.

I for one would def be supporting Cov if it meant them cheating c*nts were relegated on the last day. :lol:

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This. Just about sums it up.

I for one would def be supporting Cov if it meant them cheating c*nts were relegated on the last day. :lol:

 

Can we please stop refering to our fishy neighbours as c**ts! There are many c**ts in the world who are now unfortunatley labeled with PFC. PFC isn't their fault and I think it's unfair on them to be tarnished with teh same brush, they may be c**ts but the don't deserve that!

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