Jump to content

Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
in Golden Posts

 Share

Recommended Posts

St Chalet

St Chalet

Posted
Posted
10pm update on guardian:

 

http://www.guardian.co.uk/football/2009/dec/31/portsmouth-pfa-players-wages-faraj

 

PFA chief to meet Portsmouth hierachy over non-payment of players' wages

• Cusack to meet officials on Monday, players on Tuesday

• Finnan says 'no one seems to know what's going on'

 

"If the players' salaries fail to arrive on Tuesday then the squad will have the option of serving a mandatory 14 days notice to terminate their contracts."

Link to comment
Share on other sites
PES

PES

Posted
Posted
For Christ's sake PES, give it a rest.

 

Pompey to most Saints fans are a mild inconvenience. An annoying little brother, possibly with a retardation. However for a lot of Pompey fans, Saints are the be-all- and-end-all. A constant ***** in the bubble of self-respect; a stone in the shoe of progress.

 

The bitterness rose and rose; it became venomous. We found it funny. It is funny.

 

If someone walks round West Quay in a Pompey shirt they might get a few looks but no knuckle-dragger is likely to have a pop.

 

If someone wears a Saints shirt in Skatesmouth, they will get a constant barrage of "scummer", often from pre-pubescent little ****es, smirked on by their obese greasey state-sponging ****wit of a mother.

 

Will Saints miss that? Moot point as it will continue whatever happens to Pompey due to the brutish and inward mentality of the island neighbours. However, if you think the pleasure of playing Pompey a few times every generation outweighs the happiness of seeing those ****s squirm in their own inadequacy then it's you who misses the point.

 

I aint brave/stupid enough to wear my Pompey gear (Even though I havent got any!) around West Quay, despite what you say I think it'd be asking for trouble. Anyway, Happy new year. :)

Link to comment
Share on other sites
CB Fry

CB Fry

Posted
Posted
As there are some things in it which are easily provable to be wrong such as the -9 points to -10 points shows the guy hasn't got a clue and is making it up as he goes along.

 

 

That's a bit rich coming from someone who claimed the initial BBC report on the winding up order was from a "hoax website".

 

 

 

Originally Posted by Matthew Le God viewpost.gif

This is a fake version of the BBC website. Ignore and close this thread/change title.

 

Not sure you are in any position to claim anyone else "hasn't got a clue". It's not the first time you've been stone-cold wrong recently.

Link to comment
Share on other sites
CB Fry

CB Fry

Posted
Posted

 

 

 

Excelsior Mouscron is an interesting case, surprised I hadn't heard of it before now.

 

Basically - skint, kicked out of league. The Mouscron badge should be the symbol for all Saints fans that would find it quite funny to see that tawdry, crooked little club down the road chucked down a league or two.

 

And handily, the badge is red and white.

Link to comment
Share on other sites
SOTONS EAST SIDE

SOTONS EAST SIDE

Posted
Posted
Excelsior Mouscron is an interesting case, surprised I hadn't heard of it before now.

 

Basically - skint, kicked out of league. The Mouscron badge should be the symbol for all Saints fans that would find it quite funny to see that tawdry, crooked little club down the road chucked down a league or two.

 

And handily, the badge is red and white.

I'm with you CB FRY! ;)
Link to comment
Share on other sites
Verbal

Verbal

Posted
Posted

I think the notable point in that Guardian article is in this quote from PFC:

 

The club has been assured of receipt of funds by Tuesday and the owner and Board have been working hard on resolving the short term delay.

 

So the club is completely dependent on some unnamed third party to provide the funds necessary to pay the players (which gives the lie, incidentally, to the claim that they weren't paid because of a problem loading a file at the bank)

 

Is this money coming from a transfer, for which the club have had permission to take early receipt? And if so, was the 'late' payment the result of last-minute haggling by another club aware that Pompey's position was hopeless?

 

The only other alternative is that the club has found other short-term 'investment' to tide them over - but I find that so unlikely given that at this stage it would be like throwing large bundles of £10 notes into a pit.

Link to comment
Share on other sites
Verbal

Verbal

Posted
Posted

http://www.timesonline.co.uk/tol/sport/football/premier_league/portsmouth/article6972692.ece

 

This bit's good:

 

The club are attempting to refinance, but Dr John Beech, of Coventry University, a football finance expert and Portsmouth fan, expressed his doubts yesterday. “It all seems to depend on ‘the new investors’, but if I was a multimillionaire, I wouldn’t invest in them,” he said. “I would want to keep being a multimillionaire.

Link to comment
Share on other sites
St Marco

St Marco

Posted
Posted

Bit ****ed so not sure if i'm reading it all right! But i think they have to pay £6M to the tax man, £9m to Gaymark and supposedly money to other clubs for players. And are meant to pay £3.5m for Dindane this month. Basically meaning they owe a **** load of money that has to be paid in the next month. You have to be honest and say that really they are looking at needing at least £10m just to keep the club going that month. Where will that money come from? Their new owner obviously won't pay that. I doubt banks will loan it due to the obvious complexity of their finances.

 

Think it is time the PL pulled the plug.

Link to comment
Share on other sites
for_heaven's_Saint

for_heaven's_Saint

Posted
Posted
I aint brave/stupid enough to wear my Pompey gear (Even though I havent got any!) around West Quay, despite what you say I think it'd be asking for trouble. Anyway, Happy new year. :)

 

I'm sure you'd be absolutely fine! I've seen plenty of skate shirts in town, and as much as I dislike your fans, I'm willing to accept that they will, at some point, visit our city. However, if I was to go to Southsea wearing my Saints shirt, I'm not sure that the 3 generations of badly tattooed, overweight, grubby, mockney cretins would be quite so accommodating!

Nevertheless, I enjoy most of the banter, and a happy new year to you too!

Link to comment
Share on other sites
Eastcowzer

Eastcowzer

Posted
Posted
What's bugging me is: Where is Ali Al Faraj?!?!?!?! He bought them, and seems to have pumped absolutely NO money into the club. He has missed 2/3 months of wages now, and seems to have disappeared off the face of the planet.

 

If he was even real in the first place, that is...

 

Camped out with Ali Baba, and Ali Dia, at the 40 Thieves reunion.

Link to comment
Share on other sites
Doctoroncall

Doctoroncall

Posted
Posted
I aint brave/stupid enough to wear my Pompey gear (Even though I havent got any!) around West Quay, despite what you say I think it'd be asking for trouble. Anyway, Happy new year. :)

 

Having studied at the poly as it was then for a year in portsmouth, only the one time did I wear the red and white and never again. Whereas in southampton, I have seen a few skate shirted folk who have not had any bother.

 

I wish you well for 2010 and as a football fan it is sad to see a club run so badly which may mean extinction, but I have found this saga incredibly funny.

Link to comment
Share on other sites
daveygwyatt

daveygwyatt

Posted
Posted
I'm sure you'd be absolutely fine! I've seen plenty of skate shirts in town, and as much as I dislike your fans, I'm willing to accept that they will, at some point, visit our city. However, if I was to go to Southsea wearing my Saints shirt, I'm not sure that the 3 generations of badly tattooed, overweight, grubby, mockney cretins would be quite so accommodating!

Nevertheless, I enjoy most of the banter, and a happy new year to you too!

 

you would be ok in southsea with saints shirt, I wore mine down there last year, got plenty of looks but that was it.

Link to comment
Share on other sites
rallyboy

rallyboy

Posted
Posted

so, all of you financial experts out there, let's get into the nitty gritty as the year of implosion is now upon them.

Admin seems inevitable, how is it likely to pan out on the practical side?

 

If I'm the man with a loan secured against the ground, what happens in admin?

Do I get the ground on the back of my loan agreement or do I have to wait for Mr Fry and friends to sell it and he decides who gets what?

Can we then expect potential new owners to gather at the closing down sale and try and pick up the land etc to recreate a future going concern or do we think all secured assets will have been scattered across creditors by then?

Link to comment
Share on other sites
Saint_clark

Saint_clark

Posted
Posted
as Far as I know, the actual land the stadium is built on is woned by the council and has some pretty restrictive covenants.. such as you can't build on it unless you relocate the stadium..

 

Mind you, I woudl guess there's a claus in there that states these conditions only stand IF the football club still exists....

 

The land around the stadium is owned by Gaydamak.

Link to comment
Share on other sites
saint lard

saint lard

Posted
Posted (edited)

Sorry, i was led to believe they left Barclays and went too Standard Bank.

I will kill my source.;)

 

Actually they are with standard bank...........http://www.twohundredpercent.net/?p=2431 and...

http://www.dailyecho.co.uk/news/4825475.Pompey_issued_winding_up_order/?action=complain&cid=8189079

 

 

'Where, then, is the money going? The answer to that is the Standard Bank of South Africa, who loaned the club’s previous owner Alexandre Gaydamak tens of millions of pounds under what are believed to be extremely onerous terms and are now demanding repayment. There was a fire sale of players earlier this year (which in no small part accounts for the club’s current league position), but this has clearly not raised enough money to keep the club solvent, even though (as Chief Executive Peter Storrie told ESPN), “All the money from the player transfers and the Sky TV money, all of the £35 million from January, has gone straight to the Standard Bank”.'

Edited by saint lard
Link to comment
Share on other sites
FarehamRed

FarehamRed

Posted
Posted

I can perfectly understand the Lens' - how long until UEFA or FIFA become involved? Apart from bending over backwards to help the Skates out, what is the richest league in the world's governing body doing?

 

Are they panicing as it doesn't seem too far fetched that P*mpey will not be able to complete their fixtures this season. Wht hapens tothe league table then? Do all the points gained against the blue few get wiped out?

Link to comment
Share on other sites
aintforever

aintforever

Posted
Posted

It's about time the Premier League threw the book at these scum.

 

How can it be fair on clubs like Bolton and Hull who are trying to work within a budget and cant afford the England goalkeeper or to pay 80K a week in wages to some African. They are cheating plain and simple.

Link to comment
Share on other sites
dune

dune

Posted
Posted
It's about time the Premier League threw the book at these scum.

 

How can it be fair on clubs like Bolton and Hull who are trying to work within a budget and cant afford the England goalkeeper or to pay 80K a week in wages to some African. They are cheating plain and simple.

 

PFC will soon be in Lord Mawhinneys juristiction.

 

Happy days.

Link to comment
Share on other sites
Under Weststand

Under Weststand

Posted
Posted

Lens really turning the screw today, the FAPL must now be S**ting it that UEFA & FIFA get involved. Could this action by Lens force the FAPL to finally act & take a proactive stance here, or is that just wish-full thinking on my part.

Either way this is coming to a head, & Tuesday will be a crucial day for Poopey. If no pay appears on tuesday & the players issue 14-day termination of contract then its all over for them. The last few vestigaes of assets lies in these players, selling them & raising probably minimum of 10-million to just survive January is their last hope.

Link to comment
Share on other sites
The Majestic Channon

The Majestic Channon

Posted
Posted
Lens really turning the screw today, the FAPL must now be S**ting it that UEFA & FIFA get involved. Could this action by Lens force the FAPL to finally act & take a proactive stance here, or is that just wish-full thinking on my part.

Either way this is coming to a head, & Tuesday will be a crucial day for Poopey. If no pay appears on tuesday & the players issue 14-day termination of contract then its all over for them. The last few vestigaes of assets lies in these players, selling them & raising probably minimum of 10-million to just survive January is their last hope.

 

i like lens :)

 

50f0b7da11b1e343b9.jpg

Link to comment
Share on other sites
NickG

NickG

Posted
Posted

The premier league management is made up of the other clubs - including their relegation rivals and teams owed money by them, they are already giving the league a bad name internationally (Lens), economically (Inland Revenue winding up order) and reputationally (Storrie's criminal investigation, lack of clarity on owner).

 

If may put of players from joining the premier league if they do not think they will be paid.

 

I think the prem will have little sympathy with them at the moment.

 

put this on thread on main forum but probably better here

Link to comment
Share on other sites
Joesaint

Joesaint

Posted
Posted

Just a thought I heard that if they missed payments today then any player can go for free, is this not correct!!! Why would a club pay pompy when they could temp the player away esp if he cost the 6 mill that one of them wants.

Could be very very wrong this is more of a question.

Link to comment
Share on other sites
sidthesquid

sidthesquid

Posted
Posted
Just a thought I heard that if they missed payments today then any player can go for free, is this not correct!!! Why would a club pay pompy when they could temp the player away esp if he cost the 6 mill that one of them wants.

Could be very very wrong this is more of a question.

 

I'm pretty certain that it is about not being paid for 3 consecutive months - ie, owed three months wages & therefore the contract between player and club is not being honoured. Everytime you accept your wages, albeit late, you are accepting the continuation of the terms of your contract.

Link to comment
Share on other sites
ART

ART

Posted
Posted

When you consider that the money being used to buy into Pompey is dirty money, then it needs to be laundered. Hence the delays, cos it all takes time. Takes time to dry out in such a way so as to leave no nasty stains or traces.

 

From the day Mandarec passed the club over to Gaydamak the finances have got them deeper and deeper into the mire. I've learnt over the years when you see Jewish and Arab businessmen working hand in hand in a joint cause, then there is a lot at stake for both sides. What amazes me is that other international financial authorities haven't been able to intercept all that is going on from the gun running, arms deals to the big balls up at Pompey Football Club.

Link to comment
Share on other sites
Verbal

Verbal

Posted
Posted
The link to the front page of Guardian Sports has already been posted but there's another interesting article in the inside pages:

 

http://www.guardian.co.uk/football/2009/dec/31/portsmouth-gordon-taylor-premier-league

 

Apologies if this has already been posted.

 

It strongly underlines the sense that the PL is hoping that Pompey muddle through to inevitable relegation, when it ceases to be their problem. Hopefully, Lens and the Inland Revenue will help bring things to a head before then.

Link to comment
Share on other sites
Faz

Faz

Posted
Posted
The link to the front page of Guardian Sports has already been posted but there's another interesting article in the inside pages:

 

http://www.guardian.co.uk/football/2009/dec/31/portsmouth-gordon-taylor-premier-league

 

Apologies if this has already been posted.

 

Within this article is the nub of why HMRC have taken action now. The EPL seek to ensure that all football related debts are settled first - this leaves HMRC out in the cold, unless they issue a Petition to Wind Up PFC. By issuing the petition it is my understanding that it puts all parties on notice of the potential winding-up, and they will have to account to the liquidator/receiver for all monies between the issuing of the petition and the Winding-up Order. Hence why a Bank Account gets frozen on issue of the Petition, and not on the Order. I think I'm right in saying that the TV money, and certainly International Transfer funds pass through the FA/EPL - maybe Domestic transfers as well. They are effectively accountable for those funds in the same way as a Bank would be, and would have to hold them pending the hearing - if I'm correct.

 

I've seen this situation before, and HMRC will not withdraw the petition whilst their debt outstands - they may, however, agree to delay the heaing to give the Club time to pay. In these cicumstances they may agree to allow some payments to enable the business to continue to trade, but HMRC are in the driving seat. The danger for Pompey though is that other creditors can join in the petition, and may feel they need to do so to protect their position.

 

Sacha may need to fork out another couple of Millions to stop them going bossoms upwards.

Link to comment
Share on other sites
 Share
Go to topic listing
×
×
  • Create New...