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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella
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stevegrant

stevegrant

Posted
Posted
10

MattyC

Thursday, March 1, 2012 at 03:11 PM

 

A buyer will step in on 2 conditions: 1) BC drops what he is after 2) SG drops what he is after.......................................... one will bring the other but who will move first? Bc will lose, alledgedly, 17 million is he does not. 3 million is better than nothing and a ruined business as Pompey Fans wil ruin him. So BC................... be a man, use your love for Pompey and drop your asking price. That done a buyer will come in within hours. If not. Goodnight Pompey

 

LOL..AS IF

His "love for Pompey"?! :lol: :facepalm:

 

I'm intrigued as to how he expects Pompey fans to ruin Chainrai as well...

Crazy Diamond

Crazy Diamond

Posted
Posted
His "love for Pompey"?! :lol: :facepalm:

 

I'm intrigued as to how he expects Pompey fans to ruin Chainrai as well...

 

That post perfectly sums up their ignorance. 'BC drops what he is after' 'SG drops what he is after'. Yes, because two businessmen are really going to conveniently forget about HUGE sums of money they are owed just because 14,000 football fans want them to. What a disgrace.

ALWAYS_SFC

ALWAYS_SFC

Posted
Posted

I wanted to pop on the news site and pledge my best wishes to the wailling,snivelling few but my account has been blocked....cannot imagine why?

 

perhaps i upset them in some way....:rolleyes:

bpsaint

bpsaint

Posted
Posted

1 March 2012 at 02:58 PM

Appy pompeii

This will work 100% We need to work out how the league table will look if we drop out of it as all results-points will be void for teams we have played thus changing the positions of the league. Once we have worked out the clubs that could do with us staying in existence (like west ham as they would lose 6 points if we go) we then go to them and ask for some cash !

 

Yep that's right, they actually think that blackmail is a viable way to survive. Someone please just pull the plug on them.

Doctoroncall

Doctoroncall

Posted
Posted
does this change your mind?

 

Mr Birch added: ‘The parachute payments are through to 2014. Pompey is due about £14m. The problem is that we have football creditors. Old football creditors and ones still accruing. Out of that £14m there might be £7 – 10m of football creditors that will have to he paid.’

 

I thought they had all been paid from the previous PPs? Also why no transfer embargo during the summer with these outstanding debts.

hypochondriac

hypochondriac

Posted
Posted
does this change your mind?

 

Mr Birch added: ‘The parachute payments are through to 2014. Pompey is due about £14m. The problem is that we have football creditors. Old football creditors and ones still accruing. Out of that £14m there might be £7 – 10m of football creditors that will have to he paid.’

 

Not at all. Birch knows what he is doing. He would have been reasonably confident of a sale before e took them on. They have survived much worse than this and will do it again. IMO birch will sell. Whether they get a decent owner is another matter. Last time I looked at the figures and thought they were toast yet someone came and bought them. I reckon the same will happen this time too.

stevegrant

stevegrant

Posted
Posted
I thought they had all been paid from the previous PPs? Also why no transfer embargo during the summer with these outstanding debts.

Those that were immediately due at the time have been paid from previous parachute payments, but such is the nature of some transfers that many aren't due until 2-3 years down the line. The transfer fee itself is often paid in instalments, and then there are potential add-ons like a sell-on fee, extra payments if the player plays a certain number of games, scores a certain number of goals, the team wins the league, etc. It's *those* legacy commitments (or even "potential" commitments) that he's referring to there, I think.

badgerx16

badgerx16

Posted
Posted
Last time I looked at the figures and thought they were toast yet someone came and bought them. .....

 

But (1) CSI weren't exactly straight up and honest businessmen, and (2) BC made damn sure he kept his 'lean' on PFC as he didn't trust CSI to pay up. ( And he was proved correct ).

pedg

pedg

Posted
Posted

Elements of the boy that cried wolf isn't there? On one hand no other club in their position has been liquidated on the other hand no premiership club had gone into admin before they did.

hypochondriac

hypochondriac

Posted
Posted
I can't help thinking they will survive till then end of the season.....boooooooooooo

 

remember, we were "hours" away from going bust....apparently.

 

Exactly! Give one example of a club like Portsmouth that have been liquidated? And this time their situation isn't nearly as bad as last time in terms of the debt mountain.

 

I was certain they were toast last time and the judge let them off because football clubs are an exception to the law and no one has the backbone to pull the plug. Nothing has changed in that respect and I'm sure TB will look to sell to anyone before allowing them to go pop completely.

hypochondriac

hypochondriac

Posted
Posted

And do you really think that the football league are going to withhold future parachute money if it means Pompey going bust before the end of the season? (if that really is the choice and not scare tactics as I mentioned.) Of course not, at the very least if that is the only way that they can survive, the league will keep them going until May. Much better from the league's POV to forward them some cash than to watch them go pop an leave them to sort out the mess.

stevegrant

stevegrant

Posted
Posted
And do you really think that the football league are going to withhold future parachute money if it means Pompey going bust before the end of the season?

It's not up to the Football League.

Huffton

Huffton

Posted
Posted

As i have a season ticket, which means I have paid up front for x amount of matches, if they go bust before our game do I become a 'football creditor'?:D

suewhistle

suewhistle

Posted
Posted
What a wonderful day.

 

champagne.jpg

 

WTFILN

 

Thanks for reminding me. I've just put a bottle of sparkling in the 'fridge and suggest everyone do likewise so that all PTS readers and contributors can have a virtual toast together when the final moment arrives..

 

Had a morning not of golf but of skiing (thats for Corpy, by the way..) and was eager to get back to read the thread. You can tell when things are happening by the number of pages unread!

 

Being nasty doesn't come easily to me, so I'll promise now to donate a fiver to any AFCPompey revival, as long as it's below conference level...

hypochondriac

hypochondriac

Posted
Posted
It's not up to the Football League.

 

They must hold influence though? At the very least I would expect them to send out their top performers on loan and limp on until May. The alternative is something that the league will not want at all.

tony13579

tony13579

Posted
Posted
I thought they had all been paid from the previous PPs? Also why no transfer embargo during the summer with these outstanding debts.

 

I would guess more payments are now due on players etc to other clubs

suewhistle

suewhistle

Posted
Posted
Elements of the boy that cried wolf isn't there?

 

Ha! You may not believe me but I'm actually at the 'puter swapping between this thread and preparing an adaptation of that story to tell to the kids at local primary schools!

Verbal

Verbal

Posted
Posted
Elements of the boy that cried wolf isn't there? On one hand no other club in their position has been liquidated on the other hand no premiership club had gone into admin before they did.

 

Exactly. They will be liquidated - the lack of a precedent has nothing to do with it. The only question is when.

derry

derry

Posted
Posted

It looks like the 2013 parachute payments are already allocated to football debts, then 2014 payments £8m could if not required be available. It looks like there is nothing due for two years.

hypochondriac

hypochondriac

Posted
Posted
sorry for being a thicko but if other teams are still owed for past transfers then why give the parachute payment to sacha instead of settling these debts first?

 

Because AA did a deal with Gaydamak that he would give him those parachute payments as long as he agreed to the CVA.

stevegrant

stevegrant

Posted
Posted
They must hold influence though? At the very least I would expect them to send out their top performers on loan and limp on until May. The alternative is something that the league will not want at all.

Nope, they've got absolutely no say in how/when the PL distributes parachute payments.

pedg

pedg

Posted
Posted
sorry for being a thicko but if other teams are still owed for past transfers then why give the parachute payment to sacha instead of settling these debts first?

 

I think the situation is that the money to gady is the first PP to become available after the football debts have been paid.

trousers

trousers

Posted
Posted

I see someone set up a new company called "PORTSMOUTH FOOTBALL CLUB LTD" last week.....

 

http://wck2.companieshouse.gov.uk/993d28cae4b39ec03e9ebdc6e028b904/compdetails

 

[TABLE]

[TR]

[TD=class: padding36][h=1]Company Details[/h][/TD]

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[TR=class: bluemidtext]

[TD=class: padding36]

print.gif help_button.gif

 

[/TD]

[/TR]

[TR=class: bluemidtext]

[TD=class: padding36] Name & Registered Office:

PORTSMOUTH FOOTBALL CLUB LTD

2 BEMBRIDGE DRIVE

HAYLING ISLAND

HAMPSHIRE

ENGLAND

PO11 9LU

Company No. 07963840

 

 

[/TD]

[/TR]

[TR]

[TD][TABLE]

[TR]

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[TR]

[TD=class: padding30, width: 60%] [TABLE]

[TR]

[TD]spacer.gif[/TD]

[/TR]

[TR]

[TD=class: yellowCreamTable] Status: Active

Date of Incorporation: 24/02/2012

 

Country of Origin: United Kingdom

[/TD]

[/TR]

[TR]

[TD=class: yellowCreamTable] Company Type: Private Limited Company

Nature of Business (SIC):

None Supplied

[/TD]

[/TR]

[TR]

[TD=class: yellowCreamTable] Accounting Reference Date: 29/02

Last Accounts Made Up To: (NO ACCOUNTS FILED)

Next Accounts Due: 24/11/2013

Last Return Made Up To:

Next Return Due: 24/03/2013 [/TD]

[/TR]

[/TABLE]

[/TD]

[/TR]

[/TABLE]

[/TD]

[/TR]

[/TABLE]

What's that all about then....?

SaintRichmond

SaintRichmond

Posted
Posted
And do you really think that the football league are going to withhold future parachute money if it means Pompey going bust before the end of the season? (if that really is the choice and not scare tactics as I mentioned.) Of course not, at the very least if that is the only way that they can survive, the league will keep them going until May. Much better from the league's POV to forward them some cash than to watch them go pop an leave them to sort out the mess.

 

The FL will not allow them to fail before the end of the season, because it would, in their eyes, be catastrophic to have to " readjust" the CCC table by docking all points prior to them folding

 

Simples

trousers

trousers

Posted
Posted
I see someone set up a new company called "PORTSMOUTH FOOTBALL CLUB LTD" last week.....

 

http://wck2.companieshouse.gov.uk/993d28cae4b39ec03e9ebdc6e028b904/compdetails

 

What's that all about then....?

 

[TABLE=class: normalBorderTable]

[TR=class: padding5tb]

[TD=class: rowPadding, colspan: 3, align: left]Company Filing History [/TD]

[TD=colspan: 3, align: center]Include Allotment of Shares[/TD]

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Type Date Description Order [/TR]

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[/TD]

[TD=class: text, align: left]NEWINC[/TD]

[TD=align: left]24/02/2012[/TD]

[TD=class: text] CERTIFICATE OF INCORPORATION

GENERAL COMPANY DETAILS & STATEMENTS OF;

OFFICERS, CAPITAL & SHAREHOLDINGS, GUARANTEE, COMPLIANCE

MEMORANDUM OF ASSOCIATION

[/TD]

[TD][/TD]

[TD] [/TD]

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[TR=class: resultrow2]

[TD=class: treeLevel2] treeMiddleConnector.gif

treeStatementSC.gif

[/TD]

[TD=class: text, align: left] LATEST SOC[/TD]

[TD=align: left] 24/02/2012[/TD]

[TD=class: text] 24/02/12 STATEMENT OF CAPITAL;GBP 1

[/TD]

[TD=colspan: 2] [/TD]

[/TR]

[TR=class: resultrow2]

[TD=class: treeLevel1] treeEndConnector.gif

treeModArt.gif

[/TD]

[TD=class: text, align: left] MODEL ARTICLES[/TD]

[TD=align: left] 24/02/2012[/TD]

[TD=class: text] MODEL ARTICLES ADOPTED: PRIVATE LIMITED BY SHARES

[/TD]

[TD=colspan: 2] [/TD]

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Statement of capital = £1.... hmmm....

Clapham Saint

Clapham Saint

Posted
Posted
sorry for being a thicko but if other teams are still owed for past transfers then why give the parachute payment to sacha instead of settling these debts first?

 

Based purely on the choice of words in the administrators' statement... "Assignmnet" would mean that they had signed over the legal entitlement to the parachute money to gaydamack (sp?). However if this was the case and the parachute payments had been assigned to gaydamack, why was he included in the CVA?

 

It also seems a little strange that the PL / FL would let them assign the payment to somebody else...

Hatch

Hatch

Posted
Posted
I see someone set up a new company called "PORTSMOUTH FOOTBALL CLUB LTD" last week.....

 

 

 

What's that all about then....?

 

Does it costs much to register a company name?

 

Can't we just register loads using up all possible variations of Portsmouth FC.

pedg

pedg

Posted
Posted

Question is according to the BBC etc the next 4 PP's are to go to Gady. So what happens to those payments if pompey go to the wall? Would he still get them? Specifically would he get the next/first one? If the answer is no then surely its in his interest to come to an agreement where some goes to pompey to keep them going?

Toomer

Toomer

Posted
Posted
His "love for Pompey"?! :lol: :facepalm:

 

I'm intrigued as to how he expects Pompey fans to ruin Chainrai as well...

They are going to send TCW and his bell round to the tune of Maxwells Silver Hammer.

 

In post 56715 it says club not getting the breaks, what about the small business man, schools and good causes that did not get the cash.

hypochondriac

hypochondriac

Posted
Posted
The FL will not allow them to fail before the end of the season, because it would, in their eyes, be catastrophic to have to " readjust" the CCC table by docking all points prior to them folding

 

Simples

 

Yep that is how I see it. However they do it, they will find a way.

Minty

Minty

Posted
Posted
Statement of capital = £1.... hmmm....

Just means that the total value of the shares is £1. Pretty standard on setting up any Ltd company, one shareholder with one share, 'valued' at £1, because as a private, not public ltd company, then the value of the share means nothing.

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