Pompey Takeover Saga

[dubai_phil]

blue bob

Wednesday, February 29, 2012 at 11:46 AM

Well said Eric, I reckon that even Nigel Adkins would come under the '' Pompey Smell '' if he came to a few of our games, he would also find out what a talented manager is treated like by the best fans in the country.

 

What the **** are these lot on????????? Pompey Smell??? Pompey doom and gloom!!!!

 

Did a spell check on it for you. We all know they can't type

[Gorgiesaint]

blue bob

Wednesday, February 29, 2012 at 11:46 AM

Well said Eric, I reckon that even Nigel Adkins would come under the '' Pompey Spell '' if he came to a few of our games, he would also find out what a talented manager is treated like by the best fans in the country.

 

What the **** are these lot on????????? Pompey Spell??? Pompey doom and gloom!!!!

 

To be fair to them, they worshipped Harry (with his 5%), Avram (with his trousers round his ankles) and Clotterill (who just continually spouted absolute garbage) so I think they possibly right, there is a Pompey spell...

 

... sadly for the phew, it's not the manager who comes under the spell but the phew themselves.

 

ps think also applies to how the phew view owners and CEO's- after all, who else would give the adoration received by Gaydemak , Al-Fahim, Al-Farage, the Russians, Storrie & Lampitt.

 

Exhibit number one M'Lud - I give you Corp-Ho

[Winchester Red]

Agreed, a refreshing absence of urine.

 

£30m wouldn't help them long-term anyway would it. If it were Saints, in that financial state and I had £30m, I'd try to help short-term til a better investor came along, but there's no way I'd be willing to lose all my money just to keep them afloat for a season, if that. In football terms £30m just isn't anything. We got half that for AOC and could raise it again with player sales. It's rare investors make fortunes from football, unless you get a couple of promotions and build the brand etc.

 

Exactly, that's my point.

 

£30m is a massive amount of money to nearly anyone, but for the skates it's a drop in the ocean. If they want to carry on the way they have then they'll need twice that and still have a problem in 5 years.

 

If however, they want to clear their (new) cva debts, buy their ground and accept they live within their means from that point on then it just may be enough.

 

But does corpse love them enough to gift the whole £30m and then watch third or fourth tier football?....... No, thought not.

[St Jim]

To be fair to them, they worshipped Harry (with his 5%), Avram (with his trousers round his ankles) and Clotterill (who just continually spouted absolute garbage) so I think they possibly right, there is a Pompey spell...

 

... sadly for the phew, it's not the manager who comes under the spell but the phew themselves.

 

ps think also applies to how the phew view owners and CEO's- after all, who else would give the adoration received by Gaydemak , Al-Fahim, Al-Farage, the Russians, Storrie & Lampitt.

 

Exhibit number one M'Lud - I give you Corp-Ho

 

 

 

and this 'spell' it's not reserved to employees and owners. How many of the inbreds were there seeking autographs from the administrator ?!?!

[teamsaint]

has anyone asked the Fl leaguw what the difference is between exiting admin without a CVA, and fulfilling the requirements of one?

 

I bet the bompey fans would love to know.

[Pedro]

Listen to Solent after 08-00, Trevor Birch being interviewed about the dire state, PP's already earmarked for Gaydamak, could be days or a few weeks before liquadation.

 

Having toast for breakfast, the same as they are soon.

[Channon's Sideburns]

Trevor Birch on Solent just after 8am.

 

£2.2M expected to the club in parachutes is going straight to Gaydamak.....

 

 

They don't know if they can last days.....haha

[Thedelldays]

oh how I would laugh if them going bust before the end of the season meant more points between us and West Ham...lol

[SaintRichmond]

Corp Ho ho ho..........even TB has admitted you are losing up to 8 million pounds a season, are you 'insolvent'? The question you have still refused to answer, is what would attract a serious buyer to your scummy club! No training ground, you don't own the stadium, you don't own the surrounding areas, so what is the attraction?

 

Permit fishing and inter-breeding rights ??

[dubai_phil]

Trevor Birch on Solent just after 8am.

 

£2.2M expected to the club in parachutes is going straight to Gaydamak.....

 

 

They don't know if they can last days.....haha

 

Nobody on here saw that coming, what a shock.

[trousers]

Come on Mr Birch. Use the word "cheat". That's what you're describing live on air.

[sidthesquid]

I think this might be the funniest story of the whole saga -

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/fans_bid_to_pack_the_park_raises_2_000_1_3575003

 

First line - A STAGGERING £2,000 was raised in just 36 hours thanks to a fans-backed initiative to bring supporters flocking to Fratton Park.

 

Or, in the real world, a whole 100 of the 250000 bestest fans in the world have chipped in to their scheme to buy tickets for a Pal. And they are on target for 13000 v Boro. Actually, it's more tragic than funny..... but you gotta laugh

[pedg]

Looks to me that their only real hope of survival at the moment is for some foolish fan(s) to unconditionally give them enough money to struggle on.

[trousers]

Birch: "we're down to the wire"

[dubai_phil]

Birch: "we're down to the wire"

 

Wire we waiting Wire we waiting.....

[trousers]

Birch: "there is an element of doubt that we'll complete the season"

[yoda]

Birch: "there is an element of doubt that we'll complete the season"

 

Sounds a bit theatrical but I guess I shouldn't be surprised

[Winchester Red]

Couldn't listen to Birch on Solent

 

Can anyone give a quick rundown of what was said

 

Thanks

[trousers]

Couldn't listen to Birch on Solent

 

Can anyone give a quick rundown of what was said

 

Thanks

 

Birch basically confirming that he was relying on the £2m+ parachute money to keep the club going but that has now been diverted to Gaydamak. So he's got no money left to run the club. Whoops...

 

Also confirmed the old CVA won't be honoured.

[hutch]

has anyone asked the Fl leaguw what the difference is between exiting admin without a CVA, and fulfilling the requirements of one?

 

I bet the bompey fans would love to know.

I wouldn't be surprised if they have. They'll have to make their minds up soon, otherwise they'll pass the deadline where any more points deducted this season can be carried over to next season.

[Winchester Red]

Thanks Trousers

 

Toast then, with a nice thick spread of points penalty for not meeting the CVA

[dubai_phil]

Birch basically confirming that he was relying on the £2m+ parachute money to keep the club going but that has now been diverted to Gaydamak. So he's got no money left to run the club. Whoops...

 

Also confirmed the old CVA won't be honoured.

 

Now does this mean Sacha would no longer own the car park? IF that happens then they become slightly more attractive

 

As a Property Development

[SaintRichmond]

I wouldn't be surprised if they have. They'll have to make their minds up soon, otherwise they'll pass the deadline where any more points deducted this season can be carried over to next season.

 

Which may be what the Gutless FL are happy to do ....... " Mustn't penalise Masseeev Portsmuff, they used to be big when Britain had a Navy, with loads of semen running through the streets "

[SaintRichmond]

Now does this mean Sacha would no longer own the car park? IF that happens then they become slightly more attractive

 

As a Property Development

 

Or a Portsmouth CC run citizens Car Park

[badgerx16]

Also confirmed the old CVA won't be honoured.

 

Now that poses an interesting conundrum - as far as I am aware, failure to adhere to a CVA means winding up, but what happens where 'oldco' no longer exists and 'newco' has been charged with supplying the funding for the agreement ?

[saintjay77]

Birch basically confirming that he was relying on the £2m+ parachute money to keep the club going but that has now been diverted to Gaydamak. So he's got no money left to run the club. Whoops...

 

Also confirmed the old CVA won't be honoured.

 

Wonder if that last quote will get sent to the football league when asking what the difference between exiting admin without a CVA and not honouring one is?

[tony13579]

I have Radical soloution to the Football Creditors Rule - How about the FL set up Debtors League, one where teams that default on football debts are placed and they play each other. Any prize money from competitions is controlled by the FL and only when they have cleared all debts are they allowed back into society! And then intoat best L2 additionally no trophies would be awarded for winning the Debtors League, this would prevent adding to your fraudulently aquired a glorious history!

 

I really like this idea :-)

[iansums]

Ok then, who's got the updated NPC table with the Pompey results expunged?

[Truckasaurus]

Good morning all Saints fans, good mourning all portsmuff things.

 

Can anybody shed some light on the fact that "Trev" thinks they won't make the end of the season. Or is this thread set to go on and on and on and on.

 

I can't listen to radio Solent,don't know how my DAB radio works.

[Chez]

Birch basically confirming that he was relying on the £2m+ parachute money to keep the club going but that has now been diverted to Gaydamak. So he's got no money left to run the club. Whoops...

 

Also confirmed the old CVA won't be honoured.

 

he also said he'd have to source other means of funding and he had little confidence in that.

[saint lard]

From today's news

 

By Rory McKeown

Published on Thursday 1 March 2012 08:53

 

VITAL parachute payments that could have helped Pompey though to the end of the season will go to former owner Sacha Gaydamak.

 

Trevor Birch, Pompey’s joint-administrator, revealed around £2.2m in parachute payments from the Premier League will go to Mr Gaydamak in four monthly instalments.

 

He will receive around £640,000 for four months from April, according to Mr Birch.

 

Mr Birch claims the agreement was drawn up by the club’s former administrator Andrew Andronikou in order for Mr Gaydamak to vote in favour of agreeing the Company Voluntary Agreement (CVA) to bring the club out of administration previously.

 

The News reported Mr Gaydamak would receive £2.2m first as a secured creditor as part of the CVA, which totals £16.5m.

 

Mr Birch said he was not aware of the agreement.

 

On the parachute payments agreement, Mr Birch said ‘Our legal advisors have sent out letters to various people to see if it is allowed.’

 

He added: ‘It makes it that more difficult for me and puts into doubt if we are able to get through to the end of the season.

 

‘It stops me trying to get any cash out of the Premier League that could put the club through til the end of the season.

 

‘It’s incredibly difficult – I’ve jumped on a plane that’s crash landing and trying to bring it down safely. There is a bigger hole in the fuel tank already leaking fuel .

 

‘The money would have given us a bit more time, maybe until after the end of the season.

 

‘Time is of the essence.’

 

‘I’m just doing my best to save the club. All I can say is what affects me and that affects me at the moment. I am unhappy about that.’

[Chez]

Good morning all Saints fans, good mourning all portsmuff things.

 

Can anybody shed some light on the fact that "Trev" thinks they won't make the end of the season. Or is this thread set to go on and on and on and on.

 

I can't listen to radio Solent,don't know how my DAB radio works.

the way Birch was talking it sounded like liquidation was becoming the most likely outcome

[Joey-deacons-left-nut]

Now does this mean Sacha would no longer own the car park? IF that happens then they become slightly more attractive

 

As a Property Development

 

No, that's money he's owed he stil owns the land around FP regardless (It was never included in the sale to Chiny etc, hence he still owns it)

[badgerx16]

[CB Saint]

It is unbelievable that gaydamak has managed to get his snout in the trough before any one else. Aa certainly knows how to work the system.

[Thedelldays]

It is unbelievable that gaydamak has managed to get his snout in the trough before any one else. Aa certainly knows how to work the system.

if it shuts them down...fine by me

 

just can't see them NOT making the end of the season

[Hatch]

Bo!!ox to arsing about - just shut them down today.

[Doctoroncall]

It is unbelievable that gaydamak has managed to get his snout in the trough before any one else. Aa certainly knows how to work the system.

 

It was the only way AA could get the CVA through, this was a ticking away quietly in the background only to bite them in the arse!

 

I wonder if the players would accept 75% deferment of wages now?

[View From The Top]

Fu ck a duck, they sound like they really are on the brink!

[trousers]

Birch did sound like a man resigned to the inevitable. He couldn't have sounded more glum if he'd tried.

 

But I guess that is standard 'last gasp' tactics to flush out any dilly-dallying potential buyers

[View From The Top]

http://www.youtube.com/watch?v=LmLDf9XKMfk

[pedg]

Mr Birch said he was not aware of the agreement.

 

Is the agreement about when secure creditors are to be paid not in the UHY document about the CVA? Sure it has been quoted here?

[Foxy]

Haven't been on the forum for absolutely ages and it is somehow comforting to see this thread appears to be chugging along on a loop. OK some of the words have changed but the tune is the same.

[Weston Super Saint]

From today's news

 

By Rory McKeown

Published on Thursday 1 March 2012 08:53

 

VITAL parachute payments that could have helped Pompey though to the end of the season will go to former owner Sacha Gaydamak.

 

Trevor Birch, Pompey’s joint-administrator, revealed around £2.2m in parachute payments from the Premier League will go to Mr Gaydamak in four monthly instalments.

 

He will receive around £640,000 for four months from April, according to Mr Birch.

 

Mr Birch claims the agreement was drawn up by the club’s former administrator Andrew Andronikou in order for Mr Gaydamak to vote in favour of agreeing the Company Voluntary Agreement (CVA) to bring the club out of administration previously.

 

The News reported Mr Gaydamak would receive £2.2m first as a secured creditor as part of the CVA, which totals £16.5m.

 

Mr Birch said he was not aware of the agreement.

 

On the parachute payments agreement, Mr Birch said ‘Our legal advisors have sent out letters to various people to see if it is allowed.’

 

He added: ‘It makes it that more difficult for me and puts into doubt if we are able to get through to the end of the season.

 

‘It stops me trying to get any cash out of the Premier League that could put the club through til the end of the season.

 

‘It’s incredibly difficult – I’ve jumped on a plane that’s crash landing and trying to bring it down safely. There is a bigger hole in the fuel tank already leaking fuel .

 

‘The money would have given us a bit more time, maybe until after the end of the season.

 

‘Time is of the essence.’

 

‘I’m just doing my best to save the club. All I can say is what affects me and that affects me at the moment. I am unhappy about that.’

 

Firstly, Mr B should read this thread! It was posted on here months ago that Gaydamak would get the first payments from the PP's. If he read this thread he might be a bit more clued up!

 

Secondly, this makes things far more interesting! On the one hand Mr B states that the old CVA will not be honoured - like anyone ever believed the skates and honesty went hand in hand! - however, if by paying Gaydamak his instalment they will be deemed to have [finally] started making repayments on the CVA. Can they make payments to one party in the CVA and none of the others - rhetorical question as far as the skates are concerned I guess!

 

Finally, @corpse. In answer to your question, this investigative genius is gonna put his head on the block and say 'no' you won't be bought, not this time, you've used up all your lucky heather now.

[PaulSaint]

this was a ticking away quietly in the background only to bite them in the arse!

 

What, like a landmine?

[trousers]

On the one hand Mr B states that the old CVA will not be honoured - like anyone ever believed the skates and honesty went hand in hand! - however, if by paying Gaydamak his instalment they will be deemed to have [finally] started making repayments on the CVA. Can they make payments to one party in the CVA and none of the others

 

That was the first thought that entered my head too. Birch seems to contradict himself....in one breath saying that Gaydamak will get his money back (as decreed by the original CVA) yet in the other breath saying that the original CVA is now dead in the water and creditors from that CVA would now have to join the bunfight for CVA 2, likely ending up with 4p in the £1 (at best).

 

Maybe there was some 'clever' wording in the CVA that allows this to happen? Or maybe the agreement to pay Gaydamak was actually an arrangement outside of the CVA itself, assuming such a third party arrangement is legal of course.

Edited 1 March, 2012 by trousers

[Pamplemousse]

Ok then, who's got the updated NPC table with the Pompey results expunged?

 

[View From The Top]

That was the first thought that entered my head too. Birch seems to contradict himself....in one breath saying that Gaydamak will get his money back (as decreed by the original CVA) yet in the other breath saying that the original CVA is now dead in the water and creditors from that CVA would now have to join the bunfight for CVA 2, likely ending up with 4p in the £1 (at best).

 

Maybe there was some 'clever' wording in the CVA that allows this to happen? Or maybe the agreement to pay Gaydamak was actually an arrangement outside of the CVA itself, assuming such a third party arrangement is legal of course.

 

I believe that if the terms of the original CVA aren't met the debt contained within it reverts to its original value.

[trousers]

39

OldPompeyBlue

 

Thursday, March 1, 2012 at 09:41 AM

 

Posted this on HMS Victory story, but not sure how many would get to read it, so here goes copy & paste here: This is good news for the supporters of HMS Victory and the people of Portsmouth. One or two are missing the point here. In exactly the same way that many locals businesses benefit from the tourists that come each year to see HMS Victory and other attractions, they also benefit from supporters coming to Fratton Park. Take the football club out of the equasion and see how they would suffer from a loss of income. I, 4-1, would hope by now that the majority realise just how important the club is to the City of Portsmouth. The club is in this position through no fault of the manager, staff, players or supporters, so why should we suffer as a result. It is the money men and warring families that need to see just what they have done and and the long term consequences to the local area if the club ceases to survive. Once again, well done to HMS Victory on achieving charitable status. However, why can we not see PFC achieve something similar? Portsmouth City Council, time to wake up and assist.

 

[qwertySFC]

VITAL parachute payments that could have helped Pompey though to the end of the season will go to former owner Sacha Gaydamak.

 

Trevor Birch, Pompey’s joint-administrator, revealed around £2.2m in parachute payments from the Premier League will go to Mr Gaydamak in four monthly instalments.

 

He will receive around £640,000 for four months from April, according to Mr Birch.

 

Mr Birch claims the agreement was drawn up by the club’s former administrator Andrew Andronikou in order for Mr Gaydamak to vote in favour of agreeing the Company Voluntary Agreement (CVA) to bring the club out of administration previously. Brownie Pont ( Blame someone else)

 

The News reported Mr Gaydamak would receive £2.2m first as a secured creditor as part of the CVA, which totals £16.5m.

 

Mr Birch said he was not aware of the agreement.

Brownie Point ( denial it's not my fault)

 

On the parachute payments agreement, Mr Birch said ‘Our legal advisors have sent out letters to various people to see if it is allowed.’ Brownie Point ( I'm doing all I can)

 

He added: ‘It makes it that more difficult for me and puts into doubt if we are able to get through to the end of the season.

 

‘It stops me trying to get any cash out of the Premier League that could put the club through til the end of the season.

 

‘It’s incredibly difficult – I’ve jumped on a plane that’s crash landing and trying to bring it down safely. There is a bigger hole in the fuel tank already leaking fuel .

 

‘The money would have given us a bit more time, maybe until after the end of the season.

 

‘Time is of the essence.’

 

‘I’m just doing my best to save the club. All I can say is what affects me and that affects me at the moment. I am unhappy about that.’[/left]

 

As previously thought - It's all a massive PR stunt to drip feed the inevitable that they are going down big time. Become friends , reduce prices, praise the bestest fans ™ , talk to the "Trust" some thing AA refused to do scores a massive brownie point , releases unpopular CEO, this guy knows the situation from day one and has been on a marketing ploy from the start and they fell for it big time - Good news stories dripped fed with one or two bombshells dropped in between - but boy those bombshells are so damaging - still £2000 is going to pay TBH at least one mornings wages...