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Pompey Takeover Saga


Fitzhugh Fella

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For the LOLz, and thanks to the "Obsessed with Pompey" thread on the Main Board sparking an idea, here's the

"Pompey Debt to HMRC" counter.

 

http://www.tickcounter.com/2285714.0,33.1/1329744645/Pompey%27s%20Debt%20to%20HMRC%20%28%C2%A3s%29

 

For the stattos amongst you, it's based on £800,000 a month, with a month consisting of 28 days, thereby incrementing at 33p a second from a start point of £2.4m which will be how much they owe assuming they don't pay PAYE or NI on this month's wages. I've knocked off about 4 days' worth because it's not the end of the month yet, but it's more or less accurate based on their wage bill remaining unchanged.

 

First advert underneath it :

"Winding up petition? We can seek an adjournment to give you time to pay or work on rescue. "

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I think that Friday's events were the best thing that could have happened for the phew.

 

They should now either i) get a new owner, hopefully with no ties to the old regieme or ii) be closed down and liquidated, no doubt with a new club starting in the lower leagues.

 

If they do get a new owner I wouldn't be suprised if further points deductions follow as a new buyer would probably still need to invest more than the club is worth to be able to get a CVA agreed. You never know though I guess

 

If they do start in the lower leagues at least they will have a clean slate.

 

I can hear music...thank you!

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I actually know the details of a proposed takeover and the people involved. I PM'd Steve Grant with these details and have since had the facts confirmed over the weekend. Expect something coming out in the press in the next week or so..

 

Won't say anymore out of respect to a close friend...

 

I'm gonna go with a "1+1" thought in my head based on something GM said on 606 about 7 years ago.

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@TonyHusbandBBC: #pompey we'll be looking at how the new administration will affect the old one this week. Don't forget, old creditors still owed £16m.

 

Us? Forget? Hmmm.... :-)

 

@TonyHusbandBBC: #pompey And how does the appointment of Trevor Birch affect Balram Chainrai, and his debenture over Fratton Park? Lots to look into

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@TonyHusbandBBC: #pompey we'll be looking at how the new administration will affect the old one this week. Don't forget, old creditors still owed £16m.

 

Us? Forget? Hmmm.... :-)

 

Not according to last week's court appearance....

 

Wasn't it announced that despite telling anyone the CVA has been changed to 10p in the £.

 

That would make the CVA now £8m, less expenses.

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For the LOLz, and thanks to the "Obsessed with Pompey" thread on the Main Board sparking an idea, here's the

"Pompey Debt to HMRC" counter.

 

http://www.tickcounter.com/2285714.0,33.1/1329744645/Pompey%27s%20Debt%20to%20HMRC%20%28%C2%A3s%29

 

For the stattos amongst you, it's based on £800,000 a month, with a month consisting of 28 days, thereby incrementing at 33p a second from a start point of £2.4m which will be how much they owe assuming they don't pay PAYE or NI on this month's wages. I've knocked off about 4 days' worth because it's not the end of the month yet, but it's more or less accurate based on their wage bill remaining unchanged.

 

Erm.....you missed off the debt they still owe from last time....

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http://www.portsmouth.co.uk/sport/pompey/pompey-past/appleton_calls_for_football_league_common_sense_1_3540793

 

Words fail me.

 

We've joked about it being a disease that they catch when they go there, but what has turned this rational, balanced man into this begging fest and the worlds against us mentality.

 

And as for this

 

If we can’t fill a bench it could get to a scenario where, with teams at the top of the table, if we are playing against their rivals and can’t be competitive because we haven’t got enough players then they are going to start asking questions.

 

I would suggest that the clubs you have cheated out of points this season, by playing a squad you can't afford, at the expense of the world and his wife, might be asking a few more questions.

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http://www.portsmouth.co.uk/sport/pompey/pompey-past/appleton_calls_for_football_league_common_sense_1_3540793

 

Words fail me.

 

We've joked about it being a disease that they catch when they go there, but what has turned this rational, balanced man into this begging fest and the worlds against us mentality.

 

And as for this

 

If we can’t fill a bench it could get to a scenario where, with teams at the top of the table, if we are playing against their rivals and can’t be competitive because we haven’t got enough players then they are going to start asking questions.

 

I would suggest that the clubs you have cheated out of points this season, by playing a squad you can't afford, at the expense of the world and his wife, might be asking a few more questions.

 

Indeed.

 

Dear Mr Appleton,

 

We'll let you loan in some more players if you give back the points you accumulated whilst fielding players you couldn't afford.

 

Deal?

 

Yours in fairness,

The Football league

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spencerc

 

Monday, February 20, 2012 at 02:18 PM

 

UHY screwed us over with the last CVA 20p in the pound was never achievable. Look at palace they agreed a 1p in the pound and look where they are now a year on!!!

 

-----------------------------------------------------------------------------------------------------------------------

 

carisbrooke

 

Monday, February 20, 2012 at 02:17 PM

 

I know it would probably be a waste of time, but we have 7 days to appeal the points penalty. Based on the fact that the FL themselves say Antonov lied on his Fit and Proper Person submission, and the club was misled in the same way. Also the fans have been led to believe that the FL passed our business plan in advance and have closely supervised all transfer dealings, they are at least culpable in the situation themselves. We are being punished for things largely beyond the clubs control, ie loss of owner who it seems was never F&P and contracts to players signed under the old regime which we are just stuck with, waiting for the calendar to run down. As so many have written here and elsewhere, who is being punished? A young manager in his first job who has not bought a single player for a fee and fans whose only offence has been to buy a season ticket. Even the FL must recognise natural justice surely?

 

 

:facepalm:

Edited by trousers
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Some of the comments on this thread here, some of the blue phew are still deluded

 

http://www.pompeyonline.com/forums/index.php?threads/are-we-cheats.60057/

 

Personally I feel that the club are no worse in terms of cheating than the likes of Chelsea or Man City

 

Cheating means breaking rules. We have broken no rules. There is even a rule to accommodate doing what we've done

 

What I'm doing on the guardian article I posted a link for on another thread is proving to me that even the scummers, who claim they know everything about us, actually know fook-all.

 

I've already changed one person's opinion, and others who were gobbing off to me on there have suddenly gone silent now I've told them exactly what's happened.

 

Just goes to show, a large number of those calling us cheats are merely sheep following the flock because they've been so poorly informed of the situation.

 

If we have cheated, then so has virtually every club in football

 

:facepalm:

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http://www.portsmouth.co.uk/sport/pompey/pompey-past/appleton_calls_for_football_league_common_sense_1_3540793

 

Words fail me.

 

We've joked about it being a disease that they catch when they go there, but what has turned this rational, balanced man into this begging fest and the worlds against us mentality.

 

And as for this

 

If we can’t fill a bench it could get to a scenario where, with teams at the top of the table, if we are playing against their rivals and can’t be competitive because we haven’t got enough players then they are going to start asking questions.

 

I would suggest that the clubs you have cheated out of points this season, by playing a squad you can't afford, at the expense of the world and his wife, might be asking a few more questions.

 

That really does defy belief. He wants some common sense from the FL because it is a desperate situation and they need to be helped. If the FL were to actually employ some common sense then they would kick them out of the league altogether.

 

Not content with being at a level way above where they should be after their sh*t-or-bust strategy put them bust and in the sh*t, he now expects yet more special treatment from the FL.

 

Appy - you have youth players available to fill your bench. If you don't want to use them that is solely down to you, but it is not the responsibility of the FL or anybody else to bail you out if you can't be competitive as a result.

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http://www.portsmouth.co.uk/sport/pompey/pompey-past/appleton_calls_for_football_league_common_sense_1_3540793

 

Words fail me.

 

We've joked about it being a disease that they catch when they go there, but what has turned this rational, balanced man into this begging fest and the worlds against us mentality.

 

And as for this

 

If we can’t fill a bench it could get to a scenario where, with teams at the top of the table, if we are playing against their rivals and can’t be competitive because we haven’t got enough players then they are going to start asking questions.

 

I would suggest that the clubs you have cheated out of points this season, by playing a squad you can't afford, at the expense of the world and his wife, might be asking a few more questions.

 

Do you think he is running scared of us tonking them on 7th April with his comments about top of the table and rivals?

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http://www.portsmouth.co.uk/sport/pompey/pompey-past/appleton_calls_for_football_league_common_sense_1_3540793

 

Words fail me.

 

We've joked about it being a disease that they catch when they go there, but what has turned this rational, balanced man into this begging fest and the worlds against us mentality.

 

And as for this

 

If we can’t fill a bench it could get to a scenario where, with teams at the top of the table, if we are playing against their rivals and can’t be competitive because we haven’t got enough players then they are going to start asking questions.

 

I would suggest that the clubs you have cheated out of points this season, by playing a squad you can't afford, at the expense of the world and his wife, might be asking a few more questions.

 

Voldermort is really starting to annoy me with these disgraceful antics... threats and blackmail of this nature demonstrates he has been corrupted already. So he is now threatening to throw matches and mess up the league - sickening. How about you loan out some high earners to support the administration process, and get your academy players promoted to the first team? How about a little dignity and self respect Voldermort? How about you stop blackmailing the authorities with your little stunts, ie only three on the bench - you have just sent your academy home, so get them back FFS

 

Granted, the bonkers quality over quantity strategy backfired beautifully and wasnt Voldermorts idea, but he should realise he could have a much bigger squad without the likes of Kitson, Lawerence et al...

 

Stop cheating your fellow relegation rivals who are cutting their cloth and utilising their resources responsibly.

 

Absolutely insane however typical Pompey, didnt they listen to Claridge the other night?

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There is a fans' meeting at the Victory Bar on Wednesday at 7pm with Administrator Trevor Birch. It is admission by name only. If you would like to get your name on the attendees list please e-mail me at colin@fcmedia.eu Put 'Meeting with Trevor Birch' in the subject header.

 

The bar will be open from 6.00pm.

 

I will forward names to Johnny Moore. If demands outstrips supply, places will be allocated on a first-come-first-served basis

 

Stolen from one of their forums,

 

I would love to see what they make of Rallyboy :) :)

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There is a fans' meeting at the Victory Bar on Wednesday at 7pm with Administrator Trevor Birch.

 

Looks nice...

 

60817691?w=530&h=420

 

....how are they going to fit the Pompey faithful in there....?

 

Edit: Yes, I know, it's not THE Victory Bar a la Nottarf Krap ;-)

Edited by trousers
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http://www.thesun.co.uk/sol/homepage/sport/football/4139770/Portsmouth-are-still-paying-some-of-their-players-more-than-30000-a-week.html

 

 

 

By DAN KING

 

Last Updated: 20 Feb 2012

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PORTSMOUTH are still paying players 'crazy' wages of more than £30,000 a week.

 

Accountant Trevor Birch, in charge of the Championship club's second spell in administration in three seasons, said: "They still have some pretty onerous contracts with players who remain.

 

"Certainly in excess of £30,000 a week, which, for a Championship club, is crazy."

 

Israel's Tal Ben Haim and South Africa's Aaron Mokoena are both believed to be on such deals.

 

They arrived in the summer of 2009, when Sulaiman Al Fahim started the merry-go-round of owners which ended in Pompey's first slip into administration in March 2010.

 

Some players signed before the start of this and last season are also on top money, though not 30 grand a week plus.

 

With Pompey's bank accounts now unfrozen, the club are due to start doling out the mega wages to players again — as well as paying staff unpaid in January.

 

Birch added: "Expenditure has exceeded income in a large way, predominantly down to paying unsustainable salaries to players on long-term contracts funded by a fragile ownership of the club over recent years. It is an unstable funding model."

 

But Birch is optimistic about finding a new owner to save Pompey, insisting: "If we can restructure in terms of its debts, there is a great opportunity to sell the club."

 

Key to his strategy will be establishing if Pompey's debts are as big as feared.

 

In particular, he and his firm, PKF, want to know how much is really owed to former owners Balram Chainrai, Sasha Gaydamak and Al Fahim.

 

 

I like the bits highlighted best lol

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Re: Appleton

 

There must be some PR whip that's cracked him into shape. Like others have observed he's gone from being the only rational one to toeing the deluded line with all the rest of them.

 

The same thing happened with Andy Awford a couple of years ago. When I first heard him commentating on Solent I thought he spoke a lot of sense and told it like it was. Then all of a sudden he started coming out with the same guff along with everyone else. He went from Andy Awford to Andy Awful overnight. He left Solent shortly afterwards to coach the Pompey kids.

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http://www.thesun.co.uk/sol/homepage/sport/football/4139770/Portsmouth-are-still-paying-some-of-their-players-more-than-30000-a-week.html

 

 

 

By DAN KING

 

Last Updated: 20 Feb 2012

Add a comment Add a comment (4)

PORTSMOUTH are still paying players 'crazy' wages of more than £30,000 a week.

 

Accountant Trevor Birch, in charge of the Championship club's second spell in administration in three seasons, said: "They still have some pretty onerous contracts with players who remain.

 

"Certainly in excess of £30,000 a week, which, for a Championship club, is crazy."

 

Israel's Tal Ben Haim and South Africa's Aaron Mokoena are both believed to be on such deals.

 

They arrived in the summer of 2009, when Sulaiman Al Fahim started the merry-go-round of owners which ended in Pompey's first slip into administration in March 2010.

 

Some players signed before the start of this and last season are also on top money, though not 30 grand a week plus.

 

With Pompey's bank accounts now unfrozen, the club are due to start doling out the mega wages to players again — as well as paying staff unpaid in January.

 

Birch added: "Expenditure has exceeded income in a large way, predominantly down to paying unsustainable salaries to players on long-term contracts funded by a fragile ownership of the club over recent years. It is an unstable funding model."

 

But Birch is optimistic about finding a new owner to save Pompey, insisting: "If we can restructure in terms of its debts, there is a great opportunity to sell the club."

 

Key to his strategy will be establishing if Pompey's debts are as big as feared.

 

In particular, he and his firm, PKF, want to know how much is really owed to former owners Balram Chainrai, Sasha Gaydamak and Al Fahim.

 

 

I like the bits highlighted best lol

Restructure their debts, = get the revenue etc to agree to take small payments over a long period. The CVA will also be strung out again.

Its so galling that they are still alive and kicking but we should be used to it now. just wait for the players to flood in. They have a administrator who seems to be a bit more realistic and so the large wage packets may be a thing of the past

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They either get a buyer in quickly, alternatively they get the high paid off the payroll and bring in cheap replacements, or TB won't need to do anything but liquidate them before he is toast. If he can't make them solvent, he has to shut them down it's not a choice.

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Adrian Durham again quoting Keith Hill's comments from after the game, and saying what a disgrace it was that they were allowed to bring in that loan on Saturday morning even though his wages are being paid by WBA.

To be honest, bringing players in on loan with low (or no) wages is what they should have been doing from the start of last season, not giving 3 and 4-year contracts to the likes of Kitson and Lawrence. Bringing them in while under a transfer embargo is ridiculous.

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http://pompeypages.com/2012/02/20/did-pompey-make-the-wrong-decision/?

 

You don't say. Do you think that might have been a good idea? Oh well, too late now.

 

(Bet the writer of this is being chased around nottarf krap right now for uttering such words)

A great idea in principle, but as we found out in 2008/9, there aren't always that many takers for older players on big wages. How much interest do you reckon they had for the likes of Lawrence, Rocha, Ben Haim, etc last month? My guess is absolutely none.

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A great idea in principle, but as we found out in 2008/9, there aren't always that many takers for older players on big wages. How much interest do you reckon they had for the likes of Lawrence, Rocha, Ben Haim, etc last month? My guess is absolutely none.

 

This is why I think unless he can find a sentimental idiot TB will soon find that he has nowhere to go.

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http://pompeypages.com/2012/02/20/did-pompey-make-the-wrong-decision/?

 

You don't say. Do you think that might have been a good idea? Oh well, too late now.

 

(Bet the writer of this is being chased around nottarf krap right now for uttering such words)

 

Hark! The sound of pennies dropping in yonder east is in danger of reaching deafening proportions :-)

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This is why I think unless he can find a sentimental idiot TB will soon find that he has nowhere to go.

Football does have a tendency to unearth plenty of sentimental idiots, to be fair. Whether one exists with enough money to see Pompey through until (realistically) the end of NEXT season is another matter.

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Why are the Football League not adding further punishment as Pompey have not fielded sufficient players to occupy their bench! The logic is all wrong here. Rather than bleating about not enough players how about the youth team. Why loans that only add expense, if not wages ? I would love to see the FL state that"It is the obligation of every team that has the golden share to ensure that there are adequate players available for selection, that are eligible to play (those who have been paid and are insured) in order to maintain the standards of the competition. Failure to do so will result in the forfeit of any fixture and automatic relegation.£ That should stop the bleating and cheating !!!

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Which begs the question who do they get the high paid players off their books?

 

Reduced transfer fees or free's.

 

As an example, Lawerence value is somewhere between 500k and 1 million, but at 20k a week, that will put most off.

 

If they let him on a free, that millon would go towards his wages. Probably to simplistic but something along those lines.

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I find it amusing that some at Pompey think that Birch is a messiah compared to the Pahriah that was AA. While AA was certainly a lap dog to Chanrai at least there was a strong motivation for a Trade Sale as Chanrai had the hope he would get his money back. Birch, we believe, is straight which means he has probably got to shift a £million off the wage bill a month starting NOW and have enough cash for operating costs. Income from matches will not cut it and he dare not jepordise the existing CVA. I give him a month to find a buyer or pull the plug because I cannot see how he make the cutbacks withouit firing the high earners, which we know he cannot.

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yeah Gemmel, you and me can go to that meeting and read them our favourite gags off this forum....that would go down as well as a scabby crack addict in Avram's Fiat Panda.

 

Funny email I've had this afternoon from the other side, someone trying to explain that they weren't breaking the rules as I suggested, apparently they've committed so much criminality that it's outside the league's jurisdiction so poor old pompey are in fact having to write the rules for them! :? So there!

 

I wonder how admin boy is getting on, that must be a hell of a first day at work - 'what's that big bonfire?', 'why's the shredder seized up?', 'come out from behind the filling cabinet Mr Andronikou, we can all see you....and give the keys back...'

 

AA and Chanrai must have an attack planned soon, you don't shrug off a loan shark that easily.

 

They might be getting away with it a little bit but it's still entertaining. :)

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Why are the Football League not adding further punishment as Pompey have not fielded sufficient players to occupy their bench!

Wasn't the decision to reduce the number if subs in the Championship from seven to five done with the likes if Pompey in mind; to make it a fairer competition so the financially less prudent clubs wouldn't be at a disadvantage? Can we assume that it will now be down to three next season, seeing as the FL seem to like helping them out?

Edited by seaempty
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It's the Magri situation I find staggering. Here's a promising 17-year old being sold to Liverpool, when he could be playing in the first team and at least saving the appearance money for one of the big wage earners. Another kid went to Fulham yet they still want to keep the likes of Kitson, Lawrence, etc.

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Reduced transfer fees or free's.

 

As an example, Lawerence value is somewhere between 500k and 1 million, but at 20k a week, that will put most off.

 

If they let him on a free, that millon would go towards his wages. Probably to simplistic but something along those lines.

 

But they are screwed until the window opens unless they cancel contracts by mutual consent and the player becomes a free agent.

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