Jump to content

Pompey Takeover Saga


Fitzhugh Fella

Recommended Posts

http://www.guardian.co.uk/sport/david-conn-inside-sport-blog/2012/mar/06/blackpool-karl-oyston-players-wages

 

An article by David Conn today includes the following statement from the Blackpool chairman when discussing players wages.........

 

"I am stubborn, I just won't blow the club's money, so we had a big cash surplus," he argues. "If I had spent the £11m on players' wages, nobody would be complaining, but that money would be gone to Ferrari dealers and whatever else players spend it on. So many clubs have fallen into financial trouble by paying players too much – I don't see a massive queue of ex-Portsmouth players lining up at Fratton Park to help Portsmouth now.

Link to comment
Share on other sites

Whats really pathetic is not covering up your true identity and still getting banned.....Something that doesnt happen on here because its actually quite funny reading some of the deluded posts from pompeys finest

 

And because we have the intelligence to debate sensibly without resorting to what in effect is running away sticking your fingers in your ears. I can see the logic in banning those of us who don't behave, but if I were to register now as hypochondriac, identify myself as a saints fan and contribute politely I would be instantly banned. That is pretty pathetic IMO.

Link to comment
Share on other sites

And because we have the intelligence to debate sensibly without resorting to what in effect is running away sticking your fingers in your ears. I can see the logic in banning those of us who don't behave, but if I were to register now as hypochondriac, identify myself as a saints fan and contribute politely I would be instantly banned. That is pretty pathetic IMO.

 

Exactly....Your first post could be " Hi " and you will get instantly banned for some crap like abusive language

Link to comment
Share on other sites

They'll be able to get rid of most of their high earners in the summer.

 

How do you work that out? No one is going to take Ben Haim off their hands with him being on £36k a week, and his contract has quite a while to run yet. That one contract alone is enough to be a millstone round their neck ..the cost of 3 good championship players or nearly a full team's worth of ordinary L1 players.

 

Add to that Kitson and others that no other club will pay the same wages to .. even their second choice keeper is on £12 a week .. and they will be paying way above their league status and income would imply, for 2 or 3 years yet

Link to comment
Share on other sites

Yup, I just plucked some random user with less than 1000 posts and see what would happen :lol:

 

And if PompeyLass is correct and they have banned tdcsok ... :lol: it would prove my comment about the skates on that forum being unintelligent correct :lol: :lol:

 

Oi! that was my 2nd login for POL thats just been canned. Cheerz fella!

Link to comment
Share on other sites

I've declared myself and am allowed - just don't act like a **** and no-one will mind.

 

In fairness I just play it safe and lurk. I've no desire to wind anyone up I just want to see what the opinion is across the divide, I would rather not risk posting anything. But hey, if i'm now banned then so be it.

Link to comment
Share on other sites

Can Chinney influence the CVA to that extent, especially if the 'oldco' CVA is reinstated in full ? Any CVA requires 75% by value of the creditors to vote for it, I doubt that Chinny has that on his own, though he probably has enough to block an adverse proposal - however that way lies liquidation methinks.

 

At a very rough guess Chinny is owed £17m, CSI £10m, HMRC about £2m, 'oldco' CVA via Baker Tilley = £16m. Are there any other major unsecured creditors ? ( Given that it isn't AA cooking the figures this time ).

 

Gaydamak is owed £2.5m, but is secured against PPs. Chainrai is also secured. In AA's CVA vote, the football creditors were allowed to vote, even though they would not be affected by the outcome, another £7-10m. There are going to be trade creditors, such as the Electricity Co, but that will probably add up to a relatively minor sum.

 

If the CVA officially fails, then the creditors can pursue for the original amount. In the re-negotiation, they are going to be leaned on pretty heavily not to pursue their full rights, by being threatened with getting nothing.

 

The overwhelming problem, beyond getting a CVA approved, is the running costs. They either have to increase income substantially, by getting more people in (:lol:) or charging more or slash costs, which they can't do because of the long contracts and football creditors rule.

 

From: http://www.portsmouth.co.uk/sport/pompey/pompey-past/birch-bemoans-pompey-crippling-player-wage-bill-1-3591128?commentssort=1&commentspage=0

 

 

Looking at Portsmouth, the wages will be £5m or £6m for the next few years.

 

‘This is not straight forward when trying to restructure this.

 

‘The likes of the Football League and PFA have got to agree with what we are attempting to do. '

 

 

"What we are attempting to do"? Would that be rewriting players contracts?

:suspicious:

Link to comment
Share on other sites

What's funny is saints fan's posting on their rivals message board and covering up their true identity !!! That's pathetic.

 

Perhaps there's a reason. Here your footie allegiances don't cause you to be banned. Ask Corp or Mack or Mero or PFC, all of whom have different opinions and posting styles.

Link to comment
Share on other sites

West Ham are now turning their attention to Henderson, with a 'generous down payment' to ensure their survival until the end of the season.

 

http://www.mirrorfootball.co.uk/transfer-news/West-Ham-eye-keeper-and-loan-out-Piquionne-article874728.html

 

My my, there's a surprise then, the thought of losing 6 points must be worrysome to them.Mind you they aren't that good.

If they eventually lost 6 points and couldn't beat Reading and Birmingham they'd be totally firked.

Not at all sure that they'll get automatic promotion,they have to beat Reading at least and no doubt Brum.

Link to comment
Share on other sites

In fairness I just play it safe and lurk. I've no desire to wind anyone up I just want to see what the opinion is across the divide, I would rather not risk posting anything. But hey, if i'm now banned then so be it.

 

Not posting when drunk helps as well

Link to comment
Share on other sites

I'm sparticus

 

http://www.pompeyonline.com/forums/index.php?threads/football-club.60319/"][/url]http://www.pompeyonline.com/forums/index.php?threads/football-club.60319/[/url][/url]

 

Slightly worn with a cash flow problem. Comes with a dilapidated shed. Has proved popular with a campanologist in the past. Any reasonable offer considered. Must go soon or else I shall have to bin it. Please contact Mr Birch (Terry).

Link to comment
Share on other sites

I think (sadly) we are painting a slightly bleaker picture than in truth exists.... I think they will saty up' date=' survive and avoid any further sanctions... whether through chinney or if not by having their debt burden reduced to a managable amount within the CVA - Birch seems to have gone quieter on the validity of Chinny's debenture, which suggests Chinney and CSI are back in the driving seat re any CVA and there is feck all HMRC or BT can do about it - Birch does not want to loose face, but seems Chinney is the opnly option - which means he gets a CVA through giving everyone else about 4p in the £1 which is perfect as it reduces some 18mil of previous CVA and HMRC debt to arround 4.5 mil, and with around 3-4 years to pay it so covered as always by the parachute payments remaining - fund teh club to the tune of a couple of mil to seasons end, sell off players in the summer and have teh club in a beter position so that he can scoop a fair few mil if the club is sold - AA an chinney are way ahead of us - just that Birch being appointed just delayed their plans ... IMHO naturally. TDCSBs will get away with it yet again - -10 points is no punishment.[/quote']

 

If Chinny's debenture is above board then Chinny surely can't influence a CVA because he's a secured creditor, as only unsecured creditors vote.

Link to comment
Share on other sites

[TABLE=class: table-stats]

 

[TR=class: header]

 

Pos

Team

P

GD

Pts[/TR]

 

 

[TR]

 

[TD=colspan: 5]

View full

table

[/TD]

[/TR]

 

 

[TR=class: team first]

 

[TD=class: position]No movement 1[/TD]

 

[TD=class: team-name]Southampton

[/TD]

 

[TD=class: played]35[/TD]

 

[TD=class: goal-difference]30[/TD]

 

[TD=class: points]66[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]No movement 2[/TD]

 

[TD=class: team-name]West Ham

[/TD]

 

[TD=class: played]33[/TD]

 

[TD=class: goal-difference]21[/TD]

 

[TD=class: points]64[/TD]

[/TR]

 

[TR=class: team divider]

 

[TD=class: position]No movement 3[/TD]

 

[TD=class: team-name]Reading [/TD]

 

[TD=class: played]34[/TD]

 

[TD=class: goal-difference]16[/TD]

 

[TD=class: points]63[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]Moving up 4[/TD]

 

[TD=class: team-name]Middlesbrough

[/TD]

 

[TD=class: played]34[/TD]

 

[TD=class: goal-difference]8[/TD]

 

[TD=class: points]59[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]Moving down 5[/TD]

 

[TD=class: team-name]Blackpool [/TD]

 

[TD=class: played]35[/TD]

 

[TD=class: goal-difference]12[/TD]

 

[TD=class: points]56[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]No movement 6[/TD]

 

[TD=class: team-name]Birmingham

[/TD]

 

[TD=class: played]33[/TD]

 

[TD=class: goal-difference]21[/TD]

 

[TD=class: points]55[/TD]

[/TR]

 

[TR=class: team divider]

 

[TD=class: position]No movement 7[/TD]

 

[TD=class: team-name]Brighton

[/TD]

 

[TD=class: played]34[/TD]

 

[TD=class: goal-difference]6[/TD]

 

[TD=class: points]54[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]No movement 8[/TD]

 

[TD=class: team-name]Cardiff [/TD]

 

[TD=class: played]33[/TD]

 

[TD=class: goal-difference]9[/TD]

 

[TD=class: points]53[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]No movement 9[/TD]

 

[TD=class: team-name]Hull [/TD]

 

[TD=class: played]33[/TD]

 

[TD=class: goal-difference]6[/TD]

 

[TD=class: points]53[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]No movement 10[/TD]

 

[TD=class: team-name]Leeds United

[/TD]

 

[TD=class: played]35[/TD]

 

[TD=class: goal-difference]3[/TD]

 

[TD=class: points]50[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]No movement 11[/TD]

 

[TD=class: team-name]Leicester

[/TD]

 

[TD=class: played]34[/TD]

 

[TD=class: goal-difference]7[/TD]

 

[TD=class: points]48[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]Moving up 12[/TD]

 

[TD=class: team-name]Crystal

Palace [/TD]

 

[TD=class: played]34[/TD]

 

[TD=class: goal-difference]4[/TD]

 

[TD=class: points]48[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]Moving down 13[/TD]

 

[TD=class: team-name]Burnley [/TD]

 

[TD=class: played]34[/TD]

 

[TD=class: goal-difference]4[/TD]

 

[TD=class: points]47[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]Moving up 14[/TD]

 

[TD=class: team-name]Derby [/TD]

 

[TD=class: played]34[/TD]

 

[TD=class: goal-difference]-8[/TD]

 

[TD=class: points]46[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]Moving down 15[/TD]

 

[TD=class: team-name]Ipswich [/TD]

 

[TD=class: played]34[/TD]

 

[TD=class: goal-difference]-7[/TD]

 

[TD=class: points]44[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]Moving down 16[/TD]

 

[TD=class: team-name]Barnsley [/TD]

 

[TD=class: played]35[/TD]

 

[TD=class: goal-difference]-9[/TD]

 

[TD=class: points]43[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]No movement 17[/TD]

 

[TD=class: team-name]Watford [/TD]

 

[TD=class: played]34[/TD]

 

[TD=class: goal-difference]-13[/TD]

 

[TD=class: points]43[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]No movement 18[/TD]

 

[TD=class: team-name]Peterborough

[/TD]

 

[TD=class: played]34[/TD]

 

[TD=class: goal-difference]-5[/TD]

 

[TD=class: points]38[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]No movement 19[/TD]

 

[TD=class: team-name]Millwall [/TD]

 

[TD=class: played]35[/TD]

 

[TD=class: goal-difference]-9[/TD]

 

[TD=class: points]37[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]Moving up 20[/TD]

 

[TD=class: team-name]Bristol City

[/TD]

 

[TD=class: played]35[/TD]

 

[TD=class: goal-difference]-26[/TD]

 

[TD=class: points]34[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]Moving down 21[/TD]

 

[TD=class: team-name]Nottm

Forest [/TD]

 

[TD=class: played]34[/TD]

 

[TD=class: goal-difference]-23[/TD]

 

[TD=class: points]32[/TD]

[/TR]

 

[TR=class: team divider]

 

[TD=class: position]No movement 22[/TD]

 

[TD=class: team-name]Coventry

[/TD]

 

[TD=class: played]35[/TD]

 

[TD=class: goal-difference]-19[/TD]

 

[TD=class: points]29[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]Moving up 23[/TD]

 

[TD=class: team-name]Doncaster

[/TD]

 

[TD=class: played]33[/TD]

 

[TD=class: goal-difference]-24[/TD]

 

[TD=class: points]29[/TD]

[/TR]

 

[TR=class: team]

 

[TD=class: position]Moving down 24[/TD]

 

[TD=class: team-name]Portsmouth [/TD]

 

[TD=class: played]34[/TD]

 

[TD=class: goal-difference]-4[/TD]

 

[TD=class: points]26[/TD]

[/TR]

[/TABLE]

Link to comment
Share on other sites

Just had to post that!

 

Saints top Skates bottom, it makes me feel a bit better about tonights results.

 

:)

 

Awaits a Skate proclaiming "But, games in hand etc......"

 

On this day, regardless of everything, it is what it is. We are top, they are bottom.

Link to comment
Share on other sites

What a pathetic excuse for a club. The one time we actually wanted them to scrape a point or three they put in a pathetic and lacklustre performance. If the Phew make it through to April I hope we stuff the **** out of them to spoil their last ever 'Cup Final'.

Link to comment
Share on other sites

http://www1.skysports.com/football/news/12040/7570852/Pompey-crimes

 

mirage says March 6, 2012 1:31pm

 

what with 16500 fans packed into the park on saturday, is it not time that Fifa stepped in to save us? how can they sit back and potentially allow a premier league club (in every sense apart from league position) to go out of business? it's been said time and time again, portsmouth fans are the best in the world, and recent attendance figures prove that. we sang at blackpool for 90minutes. has any other set of supporters done this?? we even had a conga line going. proof beyond all doubt that PFC fans are the most loyal and passionate certainly in the world. if Fifa don't save us, then something is wrong with football.

 

One of us?

Edited by niceandfriendly
Link to comment
Share on other sites

http://www.portsmouth.co.uk/sport/pompey/pompey-past/i-m-a-last-resort-for-pompey-says-balram-chainrai-1-3595207

 

He added: ‘I won’t lose anything if the club is liquidated. I don’t have ulterior motives. I’m just a normal guy in Hong Kong with a normal healthy business.’

 

Meanwhile former Pompey chief executive Peter Storrie has quashed rumours surfacing on Twitter that he was mounting a consortium to takeover the club.

 

He said: ‘I am happy to help in any way I can.......PMSL

 

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/comment-fratton-s-future-is-in-the-administrator-s-hands-1-3595197

 

 

Cheats update

Edited by ALWAYS_SFC
Link to comment
Share on other sites

Chanrai on Birch - there is a 90 per cent chance the club is going to be liquidated, but it’s not going to be his fault

 

Don't think so.

Translates as -a loan shark who has offered to pick up the pieces before liquidation says something nice about the bloke who is trying to avoid it, in the hope that he looks favourably on him in return.

 

Chanrai implies that he will step in to keep his assets alive, so that says they will finish the season.

 

Making it to May is one challenge - but starting next season in any sort of sensible shape might be the really tough one, especially if they drop.

I'd like to know more about the state of CVA1, there has been too much rumour and not enough fact.

Has it been reduced, will it fail, is agreeing one to dodge penalties and not honouring it okay?

Link to comment
Share on other sites

Rallyboy - nothing has been formalised in relation to CVA1 yet, because it hasn't failed, YET.

 

I expect there'll be real, factual news about in April, when the next (first) payments are due.

 

7.5% of the CVA value is due on April Fools Day, ( 15% of the total due is split evenly on 1st April and 15th August ).

Link to comment
Share on other sites

http://www.portsmouth.co.uk/sport/pompey/pompey-past/i-m-a-last-resort-for-pompey-says-balram-chainrai-1-3595207

 

 

Mr Chainrai said the club’s administrator showed him the ‘enormity of the problem’ during a meeting on Sunday.

 

‘I said to him please find a buyer but if you cannot, come back to me and I’ll see what I can do. I do not promise to take over,’ Mr Chainrai said.

 

‘He explained the enormity of the problem and how it was due to the huge expenses of player wages.

 

‘I have told him I should be the last choice in saving the club. For a man like me, it’s a very big gap but for Bill Gates it’s nothing. He’s trying his best but there is a 90 per cent chance the club is going to be liquidated, but it’s not going to be his fault.’

 

He claims he provided the club with an unsecured £250,000 loan to cover December’s wages and said the responsibility to pay charities and small creditors owed £2,500 or less from the previous administration was transferred to Convers Sports Initiatives (CSI) after the group took over in 2011.

 

He added: ‘I won’t lose anything if the club is liquidated. I don’t have ulterior motives. I’m just a normal guy in Hong Kong with a normal healthy business.’

 

Sha la la la and all that!

Link to comment
Share on other sites

Rallyboy - nothing has been formalised in relation to CVA1 yet, because it hasn't failed, YET.

 

I expect there'll be real, factual news about in April, when the next (first) payments are due.

 

I thought AA had snuck in a caveat in the original CVA agreement that meant the only mandatory date they had to meet was that of the final installment (due in 2013/14??) and as such the prior installments are only aspirational?

 

My recollection might be horribly wrong of course.

Edited by trousers
Link to comment
Share on other sites

×
×
  • Create New...