Pompey Takeover Saga

[saintscottofthenortham]

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.

 

Exactly this that f*cks me off. It was the same last time with Matt Richie. He "wasn't ready" for the championship yet was more than ready to bang one past us at SMS in League One for Swindon. Cheating c*nts.

[View From The Top]

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.

 

I think it more likely that they simple can't shift the high earners.

[The Kraken]

I think it more likely that they simple can't shift the high earners.

 

I think it more likely that they simply haven't tried hard enough.

 

Even if they loaned out and paid a large percentage of Tal Ben Haim et al's wages, they would save themselves thousands of pounds per week. The simple fact is they saw that as too hard a decision to make and opted not to do it. They had interest in their players from Ipswich, who of course baulked at the wages, but there was never any discussion to come to an arrangement over it.

 

Thankfully the national media have now cottoned on to the sheer absurdity of it all and are more than happy to point out the cheating nature of it all.

[trousers]

Just think how many players saints would need to lose to not field a full bench. We must have 20+ youth players who could be used in emergencies, you know, proper administration. Even in our administration it was never that bad....or we never played such a petulant hand perhaps to cheat the rules.

 

They had 3 subs because they want to bring in BETTER players. Not more, that's a myth, there are plenty of youth players. But if they play them, the FL will register them as a full squad and any hope of new signings is gone. Not playing them is their last attempt to strengthen and stay up by twisting the FL into letting them splash more cash. And I'm not convinced it won't work.

 

Are the Football League really THAT gullible?

 

Note to self: You really must stop asking these rhetorical questions Trousers.

[dvaughanwilliams]

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.

 

Even on a free, no club will take on Tal Ben Haim. If he's the one the papers are talking about being on £30k+ per week, no-one's going to match those wages, so why would he agree to leave? BTW his contract is for another season after this one. It would be idiotic to pay off his contract, he's staying. I think that they should try a constructive dismissal approach, throw dog sh*t at him in training, key his car, hurl abuse at him until he can't take any more and leaves voluntarily.

 

More likely that they go out on loan with Poopey paying part of their wages. So Team X pays TBH £15k per week, he gets replaced with a youngster out of a Premiership club's academy whose wages are paid for by the parent club. The team they end up with would be like Doncaster or Coventry.

[Brizzie Saints]

I was always led to believe that if a company became insolvent that all its assets were liquidated to pay off any debt and the company was closed down. Now to do this once and get away with only paying a fraction of that debt is bad enough, to do it twice is unbelievable. I realise chinny saved them, but surely then it would be up to him to clear that debt before continuing.

 

Yet after all this they still expect the whole football community to bend over backwards and still help them out!

Its a bit like a crack whore feeding a habit, no shame, no dignity , no remorese.

 

Now i had enough of there constant bellyaching about fair playing field, poor us, it wasnt our fault, everyone else is too blame bullsh*t and as much as it goes against the grain, i Will be complaining to the FL about their current demand too bring more players in. Every other club that has found themselves in the sh*t has had to deal with it, why should they be any different?

 

The fact that they only got 10 points was a kick in the teeth to every other decent club, if they get any more assistance it clearly shows favouritism to this shower of sh*t.

[Gorgiesaint]

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 :-)

 

The sound of pennies dropping maybe, but they're still not there yet

 

The players I am talking about, although very talented individuals and pivotal to a number of Pompey’s top performances this season, are slowly costing the club in terms of their value of money and they’re certainly not getting any younger! I’m talking about Dave Kitson, Liam Lawrence, N****wo Kanu, Benjani Mwaruwari, Tal Ben-Haim, Aaron Mokoena and probably even Jamie Ashdown, and dare I say it, the increasingly important and influential Ricardo Rocha.

Despite missing these prized assets, the club could’ve made at least £5m-£10m, which would’ve gone a long way to saving the club – certainly a lot further than £500k for Williams’ sale.

 

Hahahaha, only in the Peter "I'm in front of a judge about to liquidate us" Storrie school of economics given the wages that lot are on.

[Appy]

Christ Mokoena and Ben-Haim on 30k a week.

 

They are both ****e.

[View From The Top]

Christ Mokoena and Ben-Haim on 30k a week.

 

They are both ****e.

 

Add Lawrence and Kitson @ £20k and Norris & Halford @ £15k+ all on gates of 14k.

[Truckasaurus]

I really cannot believe they managed to squirm their way into admin. I just don't get how?

 

Dirty cheating skates.

 

Why aren't the likes of Coventry/Forest etc kicking up like mad.

 

-10 points is a joke

 

poopey have taken the p**s out of all the other football league clubs.

 

poopey have taken the p**s out of the FL.

 

I really hope they get liquidated at the seasons end because it's not going to happen during the season because the FL don't want it to happen.

 

poopey need a massive kick up the backside (that will be in April)

[trousers]

I was always led to believe that if a company became insolvent that all its assets were liquidated to pay off any debt and the company was closed down. Now to do this once and get away with only paying a fraction of that debt is bad enough, to do it twice is unbelievable. I realise chinny saved them, but surely then it would be up to him to clear that debt before continuing.

 

Yet after all this they still expect the whole football community to bend over backwards and still help them out!

Its a bit like a crack whore feeding a habit, no shame, no dignity , no remorese.

 

Now i had enough of there constant bellyaching about fair playing field, poor us, it wasnt our fault, everyone else is too blame bullsh*t and as much as it goes against the grain, i Will be complaining to the FL about their current demand too bring more players in. Every other club that has found themselves in the sh*t has had to deal with it, why should they be any different?

 

The fact that they only got 10 points was a kick in the teeth to every other decent club, if they get any more assistance it clearly shows favouritism to this shower of sh*t.

 

I can't word it any better than this....

 

17 FebLord Sugar@Lord_Sugar

Portsmouth FC goes bust 2nd time . Bet they will be playing on Sat, business as usual. Strange insolvency laws for football. JOKE !

[Saint in Paradise]

I have to say that after reading the post from Guided Missile on the last page

I think that they will get away with it yet again. Maybe only for another year

but I want that lot to die before I do.

[Saint in Paradise]

I notice the BBC still haven't taken their points off yet. Do they have a contact within the FL

who has told them something? Perhaps the FL are going to feel sorry for pimpey and not

deduct any points after all?

[Pugwash]

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

 

Has someone made an offer for the club then?

[Shrek]

I notice the BBC still haven't taken their points off yet. Do they have a contact within the FL

who has told them something? Perhaps the FL are going to feel sorry for pimpey and not

deduct any points after all?

 

Maybe it's something to do with the software they use? I know they've just changed to a new format....

[Brizzie Saints]

I was always led to believe that if a company became insolvent that all its assets were liquidated to pay off any debt and the company was closed down. Now to do this once and get away with only paying a fraction of that debt is bad enough, to do it twice is unbelievable. I realise chinny saved them, but surely then it would be up to him to clear that debt before continuing.

 

Yet after all this they still expect the whole football community to bend over backwards and still help them out!

Its a bit like a crack whore feeding a habit, no shame, no dignity , no remorese.

 

Now i had enough of there constant bellyaching about fair playing field, poor us, it wasnt our fault, everyone else is too blame bullsh*t and as much as it goes against the grain, i Will be complaining to the FL about their current demand too bring more players in. Every other club that has found themselves in the sh*t has had to deal with it, why should they be any different?

 

The fact that they only got 10 points was a kick in the teeth to every other decent club, if they get any more assistance it clearly shows favouritism to this shower of sh*t.

 

 

Done

 

Dear Football League.

 

I find myself writing to you out of frustration and sheer disgust at the goings on at Portsmouth Football Club.

The club have continually brought the game into disrepute through poor management, overspending and having a complete disregard for the integrity of the Football League, having now had two administrations in the last three years.

I find it disgusting that a high profile football club can continually rack up huge debts to small businesses, charities and the HMRC, have that debt reduced to a pittance yet still, over 2 years later, have barely scratched the surface with repaying these debts.

 

Other clubs in recent history, Leeds, Luton, Bournemouth etc, suffered a much worse fate with regard to points deductions when they found themselves in similar circumstances yet for some reason, it seems to me, PFC are being dealt with leniently for some reason. Surely a 20 point deduction would be a fairer punishment for the way they have behaved.

 

All i read in the press is the management at PFC constantly complaining about a level playing field and the FL are to blame for their failure in administering the Fit & Proper test, yet they created their own demise by cheating the entire Championship by buying and paying players they and no other stable championship club could afford.

 

To top it off, they now complain they don't have enough players to be able to field the minimum amount of players to be competitive in this league and want to bring in yet more players they cant afford. I hope on this occasion the FL refuse to allow this, they have other players at the club. Most other teams in their situation would be playing youth team players in order to reduce costs and try to make themselves cost effective yet this seems to be an alien principle to the management at PFC.

 

We all want the Championship to be stable, competitive and fair for all teams, so how about making it fairer for the rest of the league and rather than allowing them another advantage , treat PFC the same way all the other clubs have been treated.

 

In conclusion, i feel the 10 point penalty was an insufficient punishment for a team that has lowered the standard of the competition and they should be forced to utilise the playing staff they currently have rather than bringing in yet more players to contribute to their ever increasing debt mountain.

 

I await your reply

[Chopper71]

Done

 

Dear Football League.

 

I find myself writing to you out of frustration and sheer disgust at the goings on at Portsmouth Football Club.

The club have continually brought the game into disrepute through poor management, overspending and having a complete disregard for the integrity of the Football League, having now had two administrations in the last three years.

I find it disgusting that a high profile football club can continually rack up huge debts to small businesses, charities and the HMRC, have that debt reduced to a pittance yet still, over 2 years later, have barely scratched the surface with repaying these debts.

 

Other clubs in recent history, Leeds, Luton, Bournemouth etc, suffered a much worse fate with regard to points deductions when they found themselves in similar circumstances yet for some reason, it seems to me, PFC are being dealt with leniently for some reason. Surely a 20 point deduction would be a fairer punishment for the way they have behaved.

 

All i read in the press is the management at PFC constantly complaining about a level playing field and the FL are to blame for their failure in administering the Fit & Proper test, yet they created their own demise by cheating the entire Championship by buying and paying players they and no other stable championship club could afford.

 

To top it off, they now complain they don't have enough players to be able to field the minimum amount of players to be competitive in this league and want to bring in yet more players they cant afford. I hope on this occasion the FL refuse to allow this, they have other players at the club. Most other teams in their situation would be playing youth team players in order to reduce costs and try to make themselves cost effective yet this seems to be an alien principle to the management at PFC.

 

We all want the Championship to be stable, competitive and fair for all teams, so how about making it fairer for the rest of the league and rather than allowing them another advantage , treat PFC the same way all the other clubs have been treated.

 

In conclusion, i feel the 10 point penalty was an insufficient punishment for a team that has lowered the standard of the competition and they should be forced to utilise the playing staff they currently have rather than bringing in yet more players to contribute to their ever increasing debt mountain.

 

I await your reply

 

I sent a similar one on Saturday and one about a week before. No reply to either yet and I'm starting to think they are burying their heads in the sand!

[Chez]

I notice the BBC still haven't taken their points off yet. Do they have a contact within the FL

who has told them something? Perhaps the FL are going to feel sorry for pimpey and not

deduct any points after all?

maybe they are waiting for the 7 day appeal period to be up before taking them off?

[SpookyDookySaints]

In respect of the "large" contracts with certain skate players then surely if Trevor recommends to the FL that Pompey are given dispensation (would they need special despensation?) to "cancel" the contract of said player....then said player would be able to move to another club on a lower wage but may be able to negotiate a "signing on fee" to make up the supposed shortfall.......this might be the way they get the large earners off their books and the skates look to bring in other loan players!

Birch WILL have to look at a reduction in costs, specifically wages or Chinnys debt......no other way of saving them IMO...to any skates out there....what does your pathetic attempt at a football club have to offer? There are clubs with a better long term prospect than you!

[Sheaf Saint]

I notice the BBC still haven't taken their points off yet. Do they have a contact within the FL

who has told them something? Perhaps the FL are going to feel sorry for pimpey and not

deduct any points after all?

 

If you click on the full table link underneath then it does show them with -10...

[trousers]

Birch WILL have to look at a reduction in costs, specifically wages or Chinnys debt......no other way of saving them IMO.

 

Reading between the various lines, I think Birch is aiming to call into question the validity of Chainrai's £17m 'debenture', isn't he? Thus wiping out a significant percentage of the debt in one swish of an email.

 

If there is no tangible / legal evidence that Chainrai (Portpin) loaned this money to PFC (as opposed to giving it to them outright) then I can see Birch turning round and saying: "ok Mr Chainrai, sue us if you think you have a claim to that money."

 

Whilst one assumes there is evidence that £17m went from Portpin's account to PFC's account, is there any evidence, other than anecdotal, that it was a loan and not a 'gift'?

[Chez]

In respect of the "large" contracts with certain skate players then surely if Trevor recommends to the FL that Pompey are given dispensation (would they need special despensation?) to "cancel" the contract of said player....then said player would be able to move to another club on a lower wage but may be able to negotiate a "signing on fee" to make up the supposed shortfall.......this might be the way they get the large earners off their books and the skates look to bring in other loan players!

all sounds great, but why the **** would Mokoena or BTH want to leave? They live here, they have a good job on a great wage and they won't go anywhere unless it is in their best interest. That is the problem. The skates quite simply can not shift these two **** players. The skates would have to pay something like £20k a week or probably more before any other club would think about signing them. Would you take Mokoena on £10k a week? He is terrible.

[Gemmel]

Reading between the various lines, I think Birch is aiming to call into question the validity of Chainrai's £17m 'debenture', isn't he? Thus wiping out a significant percentage of the debt in one swish of an email.

 

If there is no tangible / legal evidence that Chainrai (Portpin) loaned this money to PFC (as opposed to giving it to them outright) then I can see Birch turning round and saying: "ok Mr Chainrai, sue us if you think you have a claim to that money."

 

Whilst one assumes there is evidence that £17m went from Portpin's account to PFC's account, is there any evidence, other than anecdotal, that it was a loan and not a 'gift'?

 

Spot on trousers.

 

Birch's efforts will be concentrated on getting chinnys debt off the table. I am sure someone has posted the details of three official transactions from portpin to pompey, but if it can be show that money has been paid back, then I guess chinny could have a problem.

 

What I would say, is that if they can get rid of chinny, then they will almost certainly get a buyer.

[Waterside.saint]

Spot on trousers.

 

Birch's efforts will be concentrated on getting chinnys debt off the table. I am sure someone has posted the details of three official transactions from portpin to pompey, but if it can be show that money has been paid back, then I guess chinny could have a problem.

 

What I would say, is that if they can get rid of chinny, then they will almost certainly get a buyer.

 

I really can't see Chinny going quietly. That extraordinary manoeuvre whereby he tried to bribe the court with £0.5 million if only they'd have Comical Andy said it all

Edited 20 February, 2012 by Waterside.saint

[trousers]

Spot on trousers.

 

Birch's efforts will be concentrated on getting chinnys debt off the table. I am sure someone has posted the details of three official transactions from portpin to pompey, but if it can be show that money has been paid back, then I guess chinny could have a problem.

 

What I would say, is that if they can get rid of chinny, then they will almost certainly get a buyer.

 

Yes, those aforementioned 3 payments are the ones I was alluding to.

 

But isn't the key thing here whether PFC or Portpin have any mutually signed paperwork that define the terms of those payments? In other words, is there a loan agreement?

 

Who knows...?

[trousers]

I really can't see Chinny going quietly. That extraordinary manouvre whereby he tried to bribe the court with £0.5 million if they'd only have Comical Andy said it all

 

Yep, such desperation has all the hallmarks of someone who knew the game would be up if they didn't maintain control.

[Brizzie Saints]

I sent a similar one on Saturday and one about a week before. No reply to either yet and I'm starting to think they are burying their heads in the sand!

Yeah i'm not expecting any joy but i'm happy that i've at least taken the time to give em my views. It wont change anything but i feel better now.

COYFL

[Gorgiesaint]

Reading between the various lines, I think Birch is aiming to call into question the validity of Chainrai's £17m 'debenture', isn't he? Thus wiping out a significant percentage of the debt in one swish of an email.

 

If there is no tangible / legal evidence that Chainrai (Portpin) loaned this money to PFC (as opposed to giving it to them outright) then I can see Birch turning round and saying: "ok Mr Chainrai, sue us if you think you have a claim to that money."

 

Whilst one assumes there is evidence that £17m went from Portpin's account to PFC's account, is there any evidence, other than anecdotal, that it was a loan and not a 'gift'?

 

Here's a question for the insolvency experts - who has the burden of proving the debt or not? Does Chinny have the burden of having to prove that he did in fact lend £17m or does the administrator have to prove that he didn't?

[aintforever]

Reading between the various lines, I think Birch is aiming to call into question the validity of Chainrai's £17m 'debenture', isn't he? Thus wiping out a significant percentage of the debt in one swish of an email.

 

If there is no tangible / legal evidence that Chainrai (Portpin) loaned this money to PFC (as opposed to giving it to them outright) then I can see Birch turning round and saying: "ok Mr Chainrai, sue us if you think you have a claim to that money."

 

Whilst one assumes there is evidence that £17m went from Portpin's account to PFC's account, is there any evidence, other than anecdotal, that it was a loan and not a 'gift'?

 

I would be amazed if Chainrai left himself open to that, he's a money lender.

[trousers]

I would be amazed if Chainrai left himself open to that, he's a money lender.

 

I tend to agree in theory, but if it was that clear cut and watertight why would it bother him (to the tune of offering £500k in court!) who the administrator was?

 

If he is/was a genuine creditor of PFC then Birch is as likely to get him his £17m back as AA is....surely?

[Jonnyboy]

Now he's getting the hang of it lol.

 

f*** you all #saintsfc#southampton love this twitter malarky!

 

I hope all you lot on twitter are bombarding him with abuse!

[derry]

Didn't the £17m go to Falcondrone who defaulted, then the PFC shares held by Falcondrone taken by Chanrai when he seized Falcondrone. Portpin were the original lenders. Anybody remember?

[Waterside.saint]

Originally Posted by RonManager View Post

Now he's getting the hang of it lol.

 

f*** you all #saintsfc#southampton love this twitter malarky!

Classy

 

I hope all you lot on twitter are bombarding him with abuse!

What, and lower ourselves to his level? He is to be pitied, rather than emulated

[Lazlo78]

http://footballmanagement.wordpress.com/2012/02/17/that-feeling-of-deja-vu-at-pompey-all-over-again/

 

"It would be easy to dismiss the case of Portsmouth as a special case (especially bad, that is). The ‘club as company‘ has a long and shameful tradition. It was formed in 1898 to replace the previous club, Royal Artillery, who were disbanded because of that delightful euphemism ‘financial irregularities’ – payments to players which were blatantly undermining their supposed amateur status. Funny how history can return to haunt you."

[aintforever]

I tend to agree in theory, but if it was that clear cut and watertight why would it bother him (to the tune of offering £500k in court!) who the administrator was?

 

If he is/was a genuine creditor of PFC then Birch is as likely to get him his £17m back as AA is....surely?

 

Maybe because he could trust AA not to liquidate?

[Waterside.saint]

http://footballmanagement.wordpress.com/2012/02/17/that-feeling-of-deja-vu-at-pompey-all-over-again/

 

"It would be easy to dismiss the case of Portsmouth as a special case (especially bad, that is). The ‘club as company‘ has a long and shameful tradition. It was formed in 1898 to replace the previous club, Royal Artillery, who were disbanded because of that delightful euphemism ‘financial irregularities’ – payments to players which were blatantly undermining their supposed amateur status. Funny how history can return to haunt you."

 

PFC - a disgraced club that was born in shame, lived a charmed but corrupt life and which will now hopefully die, ignobly and unmourned, within the next phew months

Edited 20 February, 2012 by Waterside.saint

[Jonnyboy]

Classy

 

 

What, and lower ourselves to his level? He is to be pitied, rather than emulated

 

Don't you get bans from ttwitter for foul and abusive language? Someone report him.

[View From The Top]

Reading between the various lines, I think Birch is aiming to call into question the validity of Chainrai's £17m 'debenture', isn't he? Thus wiping out a significant percentage of the debt in one swish of an email.

 

If there is no tangible / legal evidence that Chainrai (Portpin) loaned this money to PFC (as opposed to giving it to them outright) then I can see Birch turning round and saying: "ok Mr Chainrai, sue us if you think you have a claim to that money."

 

Whilst one assumes there is evidence that £17m went from Portpin's account to PFC's account, is there any evidence, other than anecdotal, that it was a loan and not a 'gift'?

 

That £17m is a confirmed secured debt in a legally binding CVA.

 

If the current Admin' decided that it wasn't then the terms of the old CVA would unravel and end up in court being challenge by Baloo among others.

[bridge too far]

That £17m is a confirmed secured debt in a legally binding CVA.

 

If the current Admin' decided that it wasn't then the terms of the old CVA would unravel and end up in court being challenge by Baloo among others.

 

But can anyone vouch for the accuracy of the old CVA? Or could it be a tissue of lies?

 

Just a thought,

[Fowllyd]

Didn't the £17m go to Falcondrone who defaulted, then the PFC shares held by Falcondrone taken by Chanrai when he seized Falcondrone. Portpin were the original lenders. Anybody remember?

 

Yes, that's pretty much as I remember it. Portpin loaned £17M to Falcondrone, not to PFC. When Falcondrone defaulted on the loan, Chainrai took all shares in that company, as his loan was secured against the company and its assets. He also took out a debenture on PFC and a charge on Fratton Park at (I think) more or less the same time; these, too, resulted from his loan to Falcondrone. Did any money ever reach PFC (or even Falcondrone, come to that)? Plenty think not. However, I can't see that whether or not any money got as far as PFC has anything to do with the legality of the debenture, as it was taken out on the asset (in the loosest possible sense of that word) of a defaulting loanee.

 

If I were to take out a loan to put money into a business I owned, secured against that business, but actually spent the loan on something else instead, my business could still be seized if I defaulted on the repayments. Is this not the position with Chainrai's debenture over Pompey? To prove that it's not valid, it would be necessary to prove that no money went from Portpin to Falcondrone, as this would negate any claim by the former to the latter's assets.

[Waterside.saint]

all sounds great, but why the **** would Mokoena or BTH want to leave? They live here, they have a good job on a great wage and they won't go anywhere unless it is in their best interest. That is the problem. The skates quite simply can not shift these two **** players. The skates would have to pay something like £20k a week or probably more before any other club would think about signing them. Would you take Mokoena on £10k a week? He is terrible.

 

This so reminds me of Blackadder (E) & the Prince Regent (PR):

 

PR: Yes, I'm rotten stinking stony stinking broke!

E: But sir, what about the five thousand pounds that Parliament voted

you only last week to drink yourself to death with?

PR: All gone I'm afraid. You see, I've discovered this terrifically fun

new game. It's called "cards". What happens is, you sit round the

table with your friends, and you deal out five "cards" each, and then

the object of the game is to give away all your money as quickly as

possible. Do you know it?

------- Black Adder III, Episode 5 - Amy and Amiability

 

Of course the Prince Regent = PFC & Blackadder = HMRC: PFC - the terminally improvident 'club' that expects to be bailled out every time they go bust

[benjii]

Here's a question for the insolvency experts - who has the burden of proving the debt or not? Does Chinny have the burden of having to prove that he did in fact lend £17m or does the administrator have to prove that he didn't?

 

You have to register security over a company at Companies House. When doing so you need to submit copies of the agreements giving rise to the secured obligations (as well as the relevant Companies House form). So there is no doubt that some paperwork evidencing a debt will have been sent to Companies House. Whether the underlying transaction described in those agreements is legit or not is a different question entirely but, given the security is registered, the onus would be on Birch to challenge it.

[Brizzie Saints]

Well i'm lookiing forward to wot promises to be an interesting week. Will we see a comment from Mr Burns, "Its worse than I thought Smithers, I've just uncovered another £10m debt, they're f*cked".

Oh I hope so

[suewhistle]

Haahhhaaa. Just been reading the Guardian: "The appointment of Trevor Birch as the administrator of Portsmouth is facing a further challenge from other accountants who claim he should not have been given the role due to a conflict of interest."

 

Conflict of interest! Guess who is challenging him. No, really, guess!

 

Mad cackle at Sue Towers here as I read the article: http://www.guardian.co.uk/football/2012/feb/20/portsmouth-administrator-conflict

[Waterside.saint]

Haahhhaaa. Just been reading the Guardian: "The appointment of Trevor Birch as the administrator of Portsmouth is facing a further challenge from other accountants who claim he should not have been given the role due to a conflict of interest."

 

Conflict of interest! Guess who is challenging him. No, really, guess!

 

Mad cackle at Sue Towers here as I read the article: http://www.guardian.co.uk/football/2012/feb/20/portsmouth-administrator-conflict

 

You couldn't make it up. Only PFC can make this possible- the gift that keeps on giving

[St Jim]

I can't word it any better than this....

 

17 FebLord Sugar@Lord_Sugar

Portsmouth FC goes bust 2nd time . Bet they will be playing on Sat, business as usual. Strange insolvency laws for football. JOKE !

 

I always used to have a pretty low opinion of him .......... not any more!

[Latheal]

Birch just been on Sportsdirect TV, interviewed by Mike Parry who gave him a pretty hard time. Some of the snippets;

 

When Birch referred to their fan base "but is it that loyal? You have Brighton-25000, Southampton 25000, Portsmouth 14000" - Birch believes some fans are staying away - did have a little giggle at that.

 

Accounts unfrozen today. "But is there any money in it?" Parry asked. "Yes there's money in it, should be enough to see them through to end of season" although completely dodged the question on when the players and staff would get paid.

 

Parry & co-presenter then ask about the wages, looked uncomfortable about this and then talked about how other clubs are also in debt and living above their means.

 

Community club - as he mentioned this Parry says something along the lines of "but it's the same community that stands to lose money as they haven't been paid." Birch agrees and states they may well lose out again this time.

 

Had a real problem explaining how the club came out of admin last time, actually felt a little sorry for him.

 

He thinks him being administrator may bring other investors out of the woodwork who were worried about previous administrator.

 

Thought it was telling that when he started that he went to lengths saying there was no guarantee a buyer would be found.

 

Good interview to be honest, Birch handled it pretty well and some tough questions asked. Don't know who Parry's co-host was but he was asking some tough questions.

 

They couldn't believe it was twice in three years.

[St Jim]

Whilst one assumes there is evidence that £17m went from Portpin's account to PFC's account, is there any evidence, other than anecdotal, that it was a loan and not a 'gift'?

 

I had assumed that all payment going in and out of PFC were gifts ......... just ask Rosie

Edited 20 February, 2012 by St Jim

[Gemmel]

So that's why andorid was so confident, I am guessing he was delighted that HMRC had gone to PKF, so when they opposed him, he could pull his white rabbit out and tell the judge they couldnt get the gig as there was rules preventing them being allowed.

 

The judge just didn't listen.

 

The intresting thing is that android appears to be right and any appeal looks like it has a reasonable case of succeeding. Not that i think andriod will get the job back, but they might go to a third party.

 

I almost feel guilty about how many laughs this continues to give us.

[Gemmel]

 

Accounts unfrozen today. "But is there any money in it?" Parry asked. "Yes there's money in it, should be enough to see them through to end of season" although completely dodged the question on when the players and staff would get paid.

 

 

 

.

 

Thanks for that.

 

It would appear the bushilltt virus is catching. lampitt said last week there was two million in the account, so unless the premier league parachute payment tooth fairy hasn't come early again, then there is no where near enough to get them through to the end of the season.