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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Gemmel

Gemmel

Posted
Posted
Actually started now..

 

storrie teller..... No need to doubt it was sacha and his own money and not his dad .....LMFAO

 

I wonder if he remembers what he said the week he left................... The man is baffoon.

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tony13579

tony13579

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Any news in this: http://www1.skysports.com/football/news/11674/7568957/ ?

 

I think not...

 

"The deal was laid out. January's wages had to be totally written off for now. We'd only get 75% of our wages for February. The rest would be deferred.

 

So thier not getting paid this month, thats why the rats are jumping ship on loan deals....... :lol::o:lol:

 

 

edit : "The rest would be deferred".... febs 25%, or wages beyond feb ? could be read either way

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Gemmel

Gemmel

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Ha ha ha ha ...Storrie, first had doubts about Dr Sulamin in September

 

Just so you know..... Duncan had doubts in ...................

 

Although not Saints related I thought, today of all days, this news (which has just come to me from an excellent well-placed source in P*mpey) deserves a position on the main forum. I am told news of the collapse will officially emerge in the next few days.

This is not a wind-up. I don't usually "do" gloating but with the mod's permission can I indulge myself just a little?

 

Perhaps today (July 8th) should now be made a public holiday in Hants.

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Lazlo78

Lazlo78

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So thier not getting paid this month, thats why the rats are jumping ship on loan deals....... :lol::o:lol:

 

 

edit : "The rest would be deferred".... febs 25%, or wages beyond feb ? could be read either way

 

I actually spotted the same ambiguity - is the 25% deferral only for February or the rest of the season?

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Johnny Bognor

Johnny Bognor

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bit of a dilemma for the phew tomorrow night. Beat Reading and they help save themselves from relegation (which in turn, if they do avoid relegation, makes them more attractive to buy) but at the same token assist our promotion push.

 

Draw the best result here. It doesn't help them too much, but still helps us open a gap on Reading (assuming we win, of course)

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Mister Neil

Mister Neil

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Posted
Brighton fan suggests 'Pound for Pompey' bucket appeal next Saturday at AMEX...

 

http://www.northstandchat.com/showthread.php?233212-Pound-4-Pompey-Appeal

 

Brighton fan gets slaughtered!!! Some brilliant lines here. My personal favourites:

 

but these is too much like a Heroin addict asking for £20 for food, when you know they have a history of always spending it on smack

 

Heartless the lot of you I am in full agreement with the bucket idea we should all dig deep and full the buckets to the brim. Then go to the bookies and stick the ****ing lot on some ****ing knackered old horse who is just about to die. Would it not be the same outcome by giving it to pompey.

 

Good to read that more fans are understanding the severity of their actions.

 

Following on from other clubs are getting it, this is taken from the Saturday's programme at Leeds (in an article written by Neil Winston);

 

POMPEY PUNISHMENT OVERDUE

 

Football's finances have again been very much in the news over the last three weeks, particularly the events at Ibrox and Portsmouth.

 

The shennanigans at Fratton Park over the last decade has seen Portsmouth FC "taking the proverbial" and for me they have long lost the right tp collective sympathy from within the game over their current plight. I first went to Fratton Park in 1986 - the last time, incidentally, that we won there in a league fixture - and since then, other than the obligatory installation of seating, and a cheap roof over the away end, two periods in the top tier have seen them spend next to nothing on what was and still is one of the worst grounds in the entire Football League.

 

The suggestion on the media that Portsmouth have some of the loyalis fans around always makes me laugh. A tattooed bloke with a bell and the inane "Pompey Chimes" are about as good as it gets. Their home attendances and paltry away followings put them well behind may of their peers. I'm sure todays visitors will join me in hoping that the authorities come down hard on a club that has transgressed on too many occasions. One way or another, the next Pompey-Saints fixture could be a long time following the end of this season.

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Ken Tone

Ken Tone

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Failed to answer why I think Chainrai is a scumbag - that really is a genuine PMSL moment.

 

27/10/2010 (post 34,942): Saints fans have condemned Pompey fans for laying even part of the blame for our predicament but it's hard not to look at the way Chainrai’s taken over the club and not view it as a scam from start to finish. When Faraj initially tried to buy the club before Fahim the PL were informed that Chainrai was a backer, despite his statement that he'd had no involvement before his mystery loan last October.

 

Chainrai’s plan is to strip the club of whatever he can

 

27/10/2010 (post 34,949): We owe Chainrai £16m for a loan that one of his companies (Portpin) lent another of his companies (Falcondrone). Andronikou let slip in court that both companies are his. That money never reached the club but was funneled straight back to the BVI. So when Faraj "defaulted" on the "loan" Chainrai got the club. So if he's got the club why should we still owe him the £16m?

 

19/11/2010 (post 35,384): The whole thing was a con to allow Chainrai and Kushnir to take over with no outlay. The non-payment of the HMRC would therefore seem to have been deliberately orchestrated to push us into admin and allow their takeover with Andronikou's collusion.

 

23/01/12 (post 48,826): Like Chainrai ever cared anything about the club or did any sort of recruitment drive. We got Kitson and Lawrence because he didn't have to pay for them and didn't care what wages they were on because he wasn't paying. Why would he care? It's like when you lot keep banging on about him "getting his money back" when he never put a penny into PFC in the first place.

 

There’s at least a couple of dozen more examples but I’m assuming you might have got the gist of it by now. Just in case you haven’t, my belief is that Chainrai never did pay a £17m loan to al Faraj. He certainly never paid it to PFC. The money was paid from one BVI based company to another making it impossible to trace. If he has “invested” any money into PFC it was nowhere near £17m and whatever he put in he’s had it back and he’s now trying to squeeze even more out of it. The debenture he claims to hold on the ground should be legally taken away as the charge was applied 3 months after the sale of the club to CSI and no further investment was made that would make such a charge legally binding – even the judge at the recent administration hearing couldn’t understand why Andronikou had granted it.

 

Hope that clears things up

 

Hi Corp. Welcome back to the Goebbels of the internet, with your usual selective memory. A simple straightforward quesiton for you -- if, as seems likely, it is a choice between liquidation or Chainrai back as 'temporary' owner , which would you prefer?

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Lazlo78

Lazlo78

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Posted
Draw the best result here. It doesn't help them too much, but still helps us open a gap on Reading (assuming we win, of course)

 

Pompey will be relegated one way or the other, so they would be welcome to take 3 pts off Reading.

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Minty

Minty

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Everything? You sure? I don't ever recall seeing a baby tortoise on a skateboard.

This thread clearly doesn't have everything - it doesn't have any news of a credible new owner or new source of finance for the Pompey.

 

So, this thread will probably NEVER have *everything*.

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stevegrant

stevegrant

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Posted
Would the league let Chainrai past the FAPPT this time?

By the same criteria as they have always applied - i.e. a) does he have any past convictions for financial crimes, and b) has he been involved in two or more football club Insolvency Events - then yes, he will pass the test.

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Crazy Diamond

Crazy Diamond

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Posted
Would the league let Chainrai past the FAPPT this time?

 

Pompey going out of business would be a huge embarrassment to the FA and Football League. They're not going to fail Chanrai if he's the only one who can keep them afloat. Lesser of two evils.

 

The test is a joke anyway.

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holepuncture

holepuncture

Posted
Posted

 

The Rangers fans will be pretty p*ssed off when they send 3-5000 fans down to Fratton, only for about 2-300 skates make the return trip to Glasgow...

 

it will be a one way charity gig that will cost Rangers far more than they will ever raise.

 

Lets just get Chinny installed back on the throne, let get that feel good factor again, they will flock in their droves to praise the great Saint Chin.

 

26990_417887955714_711940714_5765186_3372310_n.jpg

 

Shall we offer Celtic a non-administration friendly for banter? Our respective rivals can watch as we burn any money raised

 

Shalala, drowning in my own urine laughing DIUL

 

Chin Chinny, Chin, Chinny Chin-Chin Cherooo!

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SNOWY

SNOWY

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I'm assuming they have already sold all the tickets for the April match? I suppose we've got no chance of getting paid. Will that mean that SFC will be added to the football creditors list? Must be approx £75k that is owed.

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Gemmel

Gemmel

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I'm assuming they have already sold all the tickets for the April match? I suppose we've got no chance of getting paid. Will that mean that SFC will be added to the football creditors list? Must be approx £75k that is owed.

 

Same as the cup game two years ago..... where we became a football creditor and I have no doubt at all they will do the same again.

 

Intrestingly (And not that there won't be others) is has been suggested on here that with the old CVA failing, the new CVA will require 100% creditor approval (I'm not sure if football creditors get to vote in the CVA - They did last time, but that was under andriods rules) which potentially means we can refuse and they get the next minus 25 for leaving admin without a CVA.

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SNOWY

SNOWY

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Posted

"Intrestingly (And not that there won't be others) is has been suggested on here that with the old CVA failing, the new CVA will require 100% creditor approval (I'm not sure if football creditors get to vote in the CVA - They did last time, but that was under andriods rules) which potentially means we can refuse and they get the next minus 25 for leaving admin without a CVA."

 

Please let this be true!

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Gingeletiss

Gingeletiss

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Posted

By Emma Judd

Published on Monday 5 March 2012 13:36

 

FORMER Pompey chief executive Peter Storrie has spoken out about what has happened to make the club sink from top flight football to be flirting with relegation to League 1.

 

Mr Storrie, who left the club after it was placed into administration in 2010, said he took responsibility for a succession of owners which proved not to have the finances to shore the debt-ridden club up.

 

But he also said if the banks had not called in their loans, Pompey could have had a very different past two years

 

He said: ‘In the 2007/2008 season when the club was really spending, there were losses of about £33m.

 

‘The bank borrowings were about £40m and they took about £30m of that back in a very quick time.

 

‘That’s over £60m that we got from player sales that had to go straight to the banks.

 

‘If the bank had actually left their money in the club, like we asked them to do, and reduced the debt over a number of years, it would have kept the club going.

 

‘We had a Players’ Valuation pot which could have reduced the debt over a number of years.’

 

Mr Storrie said the club broke even under owner Milan Mandaric, who took the Blues to the Premiership.

 

But it was Sasha Gaydamak who used loans secured on his assets to attempt to build the club up to even more success.

 

Mr Storrie said all was going well, and the banks were happy with the loans, until the credit crunch bit and Sasha was forced to sell.

 

He added: ‘He sold to Sulaiman Al Fahim on the understanding that he would get all his money back.

 

‘He had to go through two to three months of carrying out due diligence on the club. He had all the facts and figures.

 

‘The league did a certain amount [of due diligence on Mr Al Fahim] and the club did a certain amount, but the problem is it’s very, very difficult to know how much actually these people are worth.

 

‘He met fans and was waving around a document saying he was going to give £50m to the club in the next week.

 

‘Our alarm bells started ringing when we were only getting money in drips and drabs.’

 

Mr Storrie said it was at that time he thought of leaving the club, and it now had just under £100m of debts.

 

But then Ali Al Faraj bought the club, and all seemed to be well.

 

‘Once again all the checks were made on this guy and it appeared we were dealing with a multi-millionaire,’ he told talkSPORT radio.

 

‘I do take responsibility for it, I do.’

 

Mr Storrie now says the club has little option but to have Balram Chainrai taking the helm once again in order to find a new buyer to take the club forward.

 

And he added: ‘Maybe get the supporters trust involved as well because they’re doing great things.’

 

Mr Storrie, who lives in Hayling Island, says he is keen to get back into football after his two-year absence.

 

‘I’ve got 20 years of experience and I’ve got a lot to offer,’ he added.

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