Jump to content

Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
in Golden Posts

 Share

Recommended Posts

saintjay77

saintjay77

Posted
Posted
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 last installment (due in 2013/14??) and as such the prior installments are only aspirational?

 

My recollection might be horribly wrong of course.

 

With AA in control he was happy to shift dates around to suit, stuffing the creditors when ever he liked. TB however might see a time scale as a more serious thing and believe it is there to be honoured?

Link to comment
Share on other sites
trousers

trousers

Posted
Posted
With AA in control he was happy to shift dates around to suit, stuffing the creditors when ever he liked. TB however might see a time scale as a more serious thing and believe it is there to be honoured?

 

Agree in principle.....Which is all very well good....but if AA has snuck in a cravity clause (did he? Not sure) in the CVA agreement then won't that be legally binding regardless of what Birch thinks?

Link to comment
Share on other sites
trousers

trousers

Posted
Posted
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!

 

Erm, isn't he contradicting himself somewhat (for once)?

 

In one breath he's saying he would step in to save the club, if push comes to shove, but in another breath he says there's a 90% chance of them being liquidated.

 

Either he'll save the club as a "last resort" or he won't. If he is prepared to step in at the last minute then the chances of the club being liquidated are ZERO rather than "90%"....surely?

Link to comment
Share on other sites
saintjay77

saintjay77

Posted
Posted
Agree in principle.....Which is all very well good....but if AA has snuck in a cravity clause (did he? Not sure) in the CVA agreement then won't that be legally binding regardless of what Birch thinks?

 

Maybe but AA was ignoring the fact that the club was pretty much trading insolvently and just shifting the goal posts so his master could keep collecting. TB has taken the clubs books and is looking for a realistic way out. If he is able to move the goal posts on the CVA1 but it wont make a jot of difference to the club being any more solvent then why bother moving them? Plus HMRC wanted him there presumabley because he would act profesionally and deal with the clubs issues correctly.

 

Big picture n all that maybe its more cost effective to let the CVA fail without moving the goal posts and shut up shop?

Link to comment
Share on other sites
ericofarabia

ericofarabia

Posted
Posted
I see Chainrai is now The Last Resort

 

That rings a bell somewhere.

 

"
Some rich men came and raped the land,

Nobody caught 'em
"

 

 

"
She heard about a place people were smilin'

They spoke about the red man's way,

and how they loved the land
"

 

The Eagles are coming to Dubai next month - this must be an omen!!

 

Lying Eyes, Desparados and Hell Freezes Over .... as well as Last Resort, songs that all fit into the Cheatsmuff way of things.

Link to comment
Share on other sites
Gingeletiss

Gingeletiss

Posted
Posted

http://www.portsmouth.co.uk/sport/pompey/pompey-past/loan-striker-lined-up-to-ease-pompey-s-scoring-woe-1-3595038

 

 

Former Ipswich player Tamas Priskin and West Bromwich Albion’s Simon Cox have both been linked with a Fratton Park switch.

 

Appleton was quick to scotch those rumours, but he remains in the hunt to bolster the attack of a side which has scored just twice in the past seven matches.

 

So sleep easy, as some were convinced it would be Cox!

Link to comment
Share on other sites
Guy

Guy

Posted
Posted
As a matter of interest, if AFC Portsmouth was created, where would they start on that league pyramid, or does it depend? AFC Wimbledon started way down in the 8the tier if I remember correctly.

 

A colleague (a Nottingham Forest supporter) made the suggestion that Pompey wouldn't be demoted that far down as it would be a Health & Safety issue when hundreds of away fans turned up at these tiny non-league grounds.

 

I could do nothing but laugh.

Link to comment
Share on other sites
Brizzie Saints

Brizzie Saints

Posted
Posted

Now this is more like the skates i've learned to loathe

 

 

1

[h=3]denmeadblue[/h] Wednesday, March 7, 2012 at 10:17 AM

 

I see Tevez scored in a reserve game last night. Feck the CVA, feck the FL, feck Chinny, feck local businesses and charities, Lets go out with a bang.

Link to comment
Share on other sites
Gemmel

Gemmel

Posted
Posted
Going back over old, old ground, but there's no provision in AA's completion report that would allow for changes to the payment schedules. Where did this come from?

 

I think there is. I very sadly read the CVA the other week and basically they have 5 years to pay the unsecured creditors and payment doesn't need to start until the secured creditors are payed off. Sach's first payment is due 1st April

Link to comment
Share on other sites
stevegrant

stevegrant

Posted
Posted
A colleague (a Nottingham Forest supporter) made the suggestion that Pompey wouldn't be demoted that far down as it would be a Health & Safety issue when hundreds of away fans turned up at these tiny non-league grounds.

 

I could do nothing but laugh.

AFC Wimbledon got about 2500 for their first Combined Counties League game (interesting fact: the first goal scored by an AFC Wimbledon player was none other than Glen Mulcaire, who is more famous for his more recent exploits as a private investigator employed by the News of the World), FC United of Manchester got about the same in the Northern League.

Link to comment
Share on other sites
Hatch

Hatch

Posted
Posted
AFC Wimbledon got about 2500 for their first Combined Counties League game (interesting fact: the first goal scored by an AFC Wimbledon player was none other than Glen Mulcaire, who is more famous for his more recent exploits as a private investigator employed by the News of the World), FC United of Manchester got about the same in the Northern League.

 

Pompey probably would get that number, maybe more to start off with, but the novelty would soon wear off once they realize that SKY TV cameras aren't there to show them being the best supporters in the World.

Link to comment
Share on other sites
rallyboy

rallyboy

Posted
Posted

sorry to bang on about CVA1 but it's important.

So unsecured creditors have to get to the back of the queue, but is that first child-maimer payment date set in stone, or can he move that one back to delay everything?

And has he really reduced the pence in the £ without creditor approval as has been hinted?

 

 

 

And in Scottish news - if Rangers went pop that would blaze a trail and leave the few in a VERY precarious position.

 

No one wants to be the first, but if a big club showed that it's possible then the media could fully accept a small club going without all the accompanying bestest stuff.

 

When I saw the Newcastle Sunderland game the other day I couldn't help wondering what the Toon Army makes of the most passionate and noisy claim.

They probably don't even realise pompey exist and would regard Fortress Fratton as nothing more than a smelly rickety shed with three angry tramps in residence.

It's a shame really.

Though I suspect half of the claims I see on sites are from here, and the other half are part of care in the community.

That Tevez one has to be from here, doesn't it? - own up.

Link to comment
Share on other sites
holepuncture

holepuncture

Posted
Posted
A colleague (a Nottingham Forest supporter) made the suggestion that Pompey wouldn't be demoted that far down as it would be a Health & Safety issue when hundreds of away fans turned up at these tiny non-league grounds.

 

I could do nothing but laugh.

 

That is rather amusing, however the notion that the skates will travel with big numbers is nonsense

 

Pompey.jpg

 

 

My laughs came at SMS last night, proudly looking on the itchen 2 massive giving repeated renditions of Shalala, then the Northam/Kingsland pipes up and it echos around beautifully. That made me chuckle big style, WTFILN? Me, I am.

 

As for POL, I also have a couple of lurker accounts with the occasional post mixed in. I blend in nicely and make an effort with poor spelling, grammar et al. They should adopt a policy similar to here I reckon, let everyone be open, our skates just get laughed at, not banned!

 

Pompey web chat people:

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/pompey-web-chat-with-jordan-cross-1-3597469

Link to comment
Share on other sites
Saint Mikey

Saint Mikey

Posted
Posted
Pompey probably would get that number, maybe more to start off with, but the novelty would soon wear off once they realize that SKY TV cameras aren't there to show them being the best supporters in the World.

 

And when they realise how poor that standard of football is, with players, teams and grounds that no-one has heard of. The appeal will be lost on anyone apart from the hardcore, especially as that level of footy isn't that cheap considering the level. AFC Totton want £9 a game for the 8th Tier!

Link to comment
Share on other sites
The9

The9

Posted
Posted
This whole thing about paying a loan fee and the player moving with a view to becoming permanent later in the season? Isnt it just a transfer by any other measure? Outside the window? Bending the rules again and again. DFCSBs.

 

Actually it's specifically mentioned in the rules as being allowed, as long as it's before the loan window closes.

Link to comment
Share on other sites
warsash saint

warsash saint

Posted
Posted
Now this is more like the skates i've learned to loathe

 

 

1

denmeadblue

 

Wednesday, March 7, 2012 at 10:17 AM

 

I see Tevez scored in a reserve game last night. Feck the CVA, feck the FL, feck Chinny, feck local businesses and charities, Lets go out with a bang.

 

Denmeadblue is a Saints fan as far as I am aware :)

Link to comment
Share on other sites
holepuncture

holepuncture

Posted
Posted
Interesting to see they'd rather have Chanari back than Plan B, by about 2:1

 

Yes, just a fortnight ago they were dancing from the roof tops that AA and BC were out of the game. Pathetic deluded beggars, the lot of em... they will regret their greed and delusion when Fratton is bulldozed, flats go up and they are off to moneyfields in the wessex

 

BC "I won’t lose anything if the club is liquidated." That is because he has secured status on fratton = he owns the ground. If we liquidate he will re-develop, just like the are a fratton train yard...

Link to comment
Share on other sites
The9

The9

Posted
Posted (edited)
AFC Wimbledon got about 2500 for their first Combined Counties League game (interesting fact: the first goal scored by an AFC Wimbledon player was none other than Glen Mulcaire, who is more famous for his more recent exploits as a private investigator employed by the News of the World), FC United of Manchester got about the same in the Northern League.

 

Newport (County) AFC got 2500ish for their first game back in Newport too. They then spent 21 years struggling up to the Conference with crowds of around 600-800 at best, and in 1994 got an average attendance of 323.

 

As a guide, Newport used to get just under 5000 on average when they were competing with the Skate Cheats at the top of Div 3 in the early/mid-80s (the Skates got 8200 in 1982 in Div 3 and 14k winning the league the next season, the plastics).

 

So you can write off more than half of any attendances entirely, and probably as much as 85% of their current dwindling fanbase until they're in the Conference or at least winning the Conference South, and there's no real knowing just how many people will just write off the new club and NEVER go - historically 3000 is an upper limit for anyone reforming a club in terms of interest beyond the first 2 or 3 games.

 

Wessex League seems the likely starting point for the Skates - due to their love of all things cockernee they'd probably try and get in the Isthmian (Ryman) League Div 3 rather than feeding the Southern League South and West Division.

Edited by The9
Link to comment
Share on other sites
hutch

hutch

Posted
Posted

I know I've said it before, but don't forget Pompey don't have to pay CVA1. It's nothing to do with them, it belongs to their old company which is now in liquidation.

 

Pompey do (or did before they went into admin again) have to make scheduled payments to Baker Tilley, starting on 1 April, to allow Baker Tilley to honour CVA1. Those scheduled payments aren't in the CVA, they're in (or should be in) the Sale & Purchase Agreement when AA sold (or gave) the club out of admin1 to Chainrai.

Link to comment
Share on other sites
The9

The9

Posted
Posted

The other thing worth remembering is that the Skates currently have Gosport Borough and Havant & Waterlooville on their doorstep if they want to go and watch non-league football. Gosport don't even list attendance figures on their website and H&W got under a thousand for the visit of local rivals Eastleigh on Boxing Day.

Link to comment
Share on other sites
alehouseboys

alehouseboys

Posted
Posted
The other thing worth remembering is that the Skates currently have Gosport Borough and Havant & Waterlooville on their doorstep if they want to go and watch non-league football. Gosport don't even list attendance figures on their website and H&W got under a thousand for the visit of local rivals Eastleigh on Boxing Day.

 

...yeah...but...that's only because millions of skates were steaming up to Millwall for their game......oh, hang on, it says here only 500 made the short trip...

Link to comment
Share on other sites
The9

The9

Posted
Posted

To labour a point, Wimbledon in the top division got attendances between 15-17k from 1997-2000, Skate Cheats got between 18k and 20k from 2006-2010 in the top division.

 

AFC Wimbledon in 9 years with 5 promotions and never finishing in the bottom half of any league table have never averaged more than 3535, and two seasons in a row at the same level without promotion was enough to drop their average to 2500. Their attendances have been pretty stable, as they were getting 3000 in 2003 in the Combined Counties.

 

Based on that premise, AFC Portsmouth would be looking at getting at best 3500 in the Wessex League (or wherever they end up) - but where's the problem with a crowd that size, even in a one-off first League game ?

 

There are basically no home fans to consider, there's no segregation up to Conference South level anyway, the ground criteria increments capacity as you go up and crowds grow anyway, and 3500 people will fit around any football field no matter what the level.

 

You also know for sure a load of them won't come back after seeing the standard of football.

Link to comment
Share on other sites
The9

The9

Posted
Posted
...yeah...but...that's only because millions of skates were steaming up to Millwall for their game......oh, hang on, it says here only 500 made the short trip...

 

Which would leave 15,000ish regular Fratton-goers who could instead go to see a level of football AFCP will only be dreaming about for the first 5 years (Conf South). But H&W got 900-something... and that's with a couple of hundred Eastleigh fans in there.

Link to comment
Share on other sites
Window Cleaner

Window Cleaner

Posted
Posted

In fact we'd probably be looking to acquire 30/40% of their support if they go bust and we move up to the PL.Not the hard liners like Westwood but there must be some floating Pompey support around Titchfield and Fareham that would come to SMS on a fairly regular basis.

Not sure if facts would bear me out but I'm sure we lost a few marginals to Pompey when we went down and they stayed in the Premier League

Link to comment
Share on other sites
stevegrant

stevegrant

Posted
Posted

On a tangent, but in-keeping with the financial dealings of football clubs, here's an interesting set of questions posed by a Blackpool fan regarding the payment of ELEVEN MILLION POUNDS as a directors' salary to the club's major shareholder, Owen Oyston: http://upthepool.blogspot.com/2012/03/10-questions-that-should-be-answered.html

 

A slightly lengthy read, but very well written.

Link to comment
Share on other sites
Sour Mash

Sour Mash

Posted
Posted
In fact we'd probably be looking to acquire 30/40% of their support if they go bust and we move up to the PL.Not the hard liners like Westwood but there must be some floating Pompey support around Titchfield and Fareham that would come to SMS on a fairly regular basis.

Not sure if facts would bear me out but I'm sure we lost a few marginals to Pompey when we went down and they stayed in the Premier League

No chance. You're looking at literally a handful of people in this day and age.
Link to comment
Share on other sites
Um Bongo

Um Bongo

Posted
Posted

Just read their match report in the news, right at the bottom of the page it says:

 

"Ever ones for original and amusing chants, the pompey fans came up with 'Let's pretend we scored a goal' and cheered widely"

 

FFS do they really believe their own hype??? 'Original and amusing?

Link to comment
Share on other sites
bpsaint

bpsaint

Posted
Posted

Imagine how much duller the SPL would be if Rangers went pop, it's bad enough as it is! The whole liquidation thing is a load of balls really though isn't it, we know it won't happen to the Gers or Phew, infact every club that seems to go in to admin these days comes out with the old' we're gonna be extinct rubbish, and apart from a few small fry teams it doesn't happen.

Link to comment
Share on other sites
100%Red&White

100%Red&White

Posted
Posted
Which would leave 15,000ish regular Fratton-goers

 

Wow-wie, you're being very generous there :lol: by about 3000+ I'd say. Still, just over 1000 of the "world's bestest" made the long, arduos trek up all the way up the motorway in their hour-of-need to far-flung Reading last night. That must have been a full 2 gallons of petrol in the car.

Link to comment
Share on other sites
sidthesquid

sidthesquid

Posted
Posted
Wow-wie, you're being very generous there :lol: by about 3000+ I'd say. Still, just over 1000 of the "world's bestest" made the long, arduos trek up all the way up the motorway in their hour-of-need to far-flung Reading last night. That must have been a full 2 gallons of petrol in the car.

 

To be fair, more in a flat-bed Transit towing a caravan.....

Link to comment
Share on other sites
100%Red&White

100%Red&White

Posted
Posted

On the 'Alan Brazil Show' on Talksh*te this morning they were talking about the plight of Rangers and it was said the upcoming Old Firm match may not go ahead on Police advice. They are expecting a bit of a reaction from the 'Gers supporters and, as you can imagine, the hoops mob are winding them into a frenzy. They're apparently talking about turning up in suits, bowler hats and brollies mimicking the Taxman. They are fearing serious trouble.

 

I wonder if Hants OB are considering this possibilty as April 7 gets nearer?

Link to comment
Share on other sites
 Share
Go to topic listing
×
×
  • Create New...