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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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dubai_phil

dubai_phil

Posted
Posted

Family club award? Sorry that is an embarrassment. What about the families of the small businessmen who are owed money? What about the families of those they made redundant.

 

But I'm sorry, the MOMENT that they went into Admin AGAIN, they should have DECLINED the nomination for "Community Club" that was not an embarrassment. That was Bringing The Game into Disrepute.

 

Taking two tables? That was an incredibly INSENSITIVE shot by them

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trousers

trousers

Posted
Posted

I wonder who was there to represent Pompey? The bloke running the administration of their parent company or the bloke running the administration of the child company?

 

Or perhaps they both went to make it a true family affair....?

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dubai_phil

dubai_phil

Posted
Posted
They're still banging on about it this morning....

 

@pn_neil_allen: RT @pmryderesq: @jordansibley My genuine belief is that you should resign your position come the morning. You have brought shame upon your club tonight

 

Oh THAT is priceless.

 

You know what?

 

I think PCFC should resign from the FL with Immediate Effect in disgust at the Outrage that has been forced upon them

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alpine_saint

alpine_saint

Posted
Posted
They're still banging on about it this morning....

 

@pn_neil_allen: RT @pmryderesq: @jordansibley My genuine belief is that you should resign your position come the morning. You have brought shame upon your club tonight

 

So when does PFC resign its position from the League due to the shame brought upon the League and the Sport by it ?

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SOTONS EAST SIDE

SOTONS EAST SIDE

Posted
Posted

This classic is delusion by the few. PMSL 17

The Moderator

Monday, March 12, 2012 at 08:39 AM

Its you who is rubbish Birch not the rumours. Your decision to send our best players out on loan will come back to haunt you. Firstly it will start with a huge loss in revenue due to lower gates. Secondly a huge loss in transfer fees when the players are sold as Division 1 and not Championship players. As far as I am concerned your clueless decisions will be the death of our club. What happened to the being open and honest about Pompey dealings, why have you decided to keep the Henderson deal undisclossed ? The only reason can be that you know we will all be up in arms should we know you sold him for peanuts !

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SOTONS EAST SIDE

SOTONS EAST SIDE

Posted
Posted

OR this Classic for Jordan Sibley. PMSL 20

MattyC Mattyc mATTYc PUP PTID

Monday, March 12, 2012 at 08:45 AM

More's to teh point have you seen what the Stain official spokeman was tweeting lest night about us: ""Jordan Sibley ‏ @jordansibley Pompey win Family Club of the Year. I chuckled too. If the irony isn't enough, they have 'bought' two tables at tonight's awards"" - and there were more, vile stain. PUP

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ALWAYS_SFC

ALWAYS_SFC

Posted
Posted (edited)

Also some idiot who said he would rather have Kitson than RL.....pmsl

 

342

Exile in Somerset

Monday, March 12, 2012 at 12:13 AM

 

Oops meant 337 - Nope I'd rather have Kitson

 

 

 

339

Exile in Somerset

Monday, March 12, 2012 at 12:12 AM

 

330 - Nope, still rather have Kitson.

Edited by ALWAYS_SFC
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dubai_phil

dubai_phil

Posted
Posted
This classic is delusion by the few. PMSL 17

The Moderator

Monday, March 12, 2012 at 08:39 AM

Its you who is rubbish Birch not the rumours. Your decision to send our best players out on loan will come back to haunt you. Firstly it will start with a huge loss in revenue due to lower gates. Secondly a huge loss in transfer fees when the players are sold as Division 1 and not Championship players. As far as I am concerned your clueless decisions will be the death of our club. What happened to the being open and honest about Pompey dealings, why have you decided to keep the Henderson deal undisclossed ? The only reason can be that you know we will all be up in arms should we know you sold him for peanuts !

 

All together now Boys & Girls....

 

WTFILN

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badgerx16

badgerx16

Posted
Posted (edited)

 

Love this comment

"Its you who is rubbish Birch not the rumours. Your decision to send our best players out on loan will come back to haunt you. Firstly it will start with a huge loss in revenue due to lower gates. Secondly a huge loss in transfer fees when the players are sold as Division 1 and not Championship players. As far as I am concerned your clueless decisions will be the death of our club."

 

Some of them STILL don't understand the situation.

Edited by badgerx16
Damn, beaten by an ex-pat
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dronskisaint

dronskisaint

Posted
Posted
This classic is delusion by the few. PMSL 17

The Moderator

Monday, March 12, 2012 at 08:39 AM

Its you who is rubbish Birch not the rumours. Your decision to send our best players out on loan will come back to haunt you. Firstly it will start with a huge loss in revenue due to lower gates. Secondly a huge loss in transfer fees when the players are sold as Division 1 and not Championship players. As far as I am concerned your clueless decisions will be the death of our club. What happened to the being open and honest about Pompey dealings, why have you decided to keep the Henderson deal undisclossed ? The only reason can be that you know we will all be up in arms should we know you sold him for peanuts !

 

Surely that has to be someone from here? Really nobody could believe it..could they?:facepalm:

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sussexsaint

sussexsaint

Posted
Posted

Family club my arse! My mate took her young lad to the Brighton game - he has been to half a dozen now and she was appauled by the behaviour of the Phew. (this was all umprompted by me she isn't really a footie fan so doesn't know the level of my disgust) She said they were foul in the ground and fighting most of the time , and on the train out she had 'never seen so many neck tattoos and smelly foul mouthed men in her life'

 

Her 9 year old was genuinely frightened

 

' don't think we'll ever go to that fixture again' she texted

 

'don't worry' I replied ' Its not likley to happen again any time soon ' :)

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brightspark

brightspark

Posted
Posted

http://www.portsmouth.co.uk/sport/pompey/pompey-past/we-deserved-a-draw-but-decisions-cost-us-1-3614270

 

Desperate spin.

 

The game was live in Australia on red button and it was a foul - Norris won the ball but with the ball still easily in reach he stuck his leg out once more in order to trip the Brighton fella and prevent him from winning the ball back. Free Kick. It's sad that even when a referee gets things right nowadays that he can still be blamed for it. Unbelievable.

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trousers

trousers

Posted
Posted
Nope.

 

The suggestion is that the main backer will make some sort of indicative offer today, subject to the world's most intense spell of due diligence. We wait and see...

 

Ah. Okey dokes. Cheers. Not the first time that one of my hunches has been wide of the mark!

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krissyboy31

krissyboy31

Posted
Posted
http://www.portsmouth.co.uk/sport/pompey/pompey-past/we-deserved-a-draw-but-decisions-cost-us-1-3614270

 

Desperate spin.

 

The game was live in Australia on red button and it was a foul - Norris won the ball but with the ball still easily in reach he stuck his leg out once more in order to trip the Brighton fella and prevent him from winning the ball back. Free Kick. It's sad that even when a referee gets things right nowadays that he can still be blamed for it. Unbelievable.

Could still be Clottirill speaking!
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Corporate Ho

Corporate Ho

Posted
Posted
Nope.The suggestion is that the main backer will make some sort of indicative offer today, subject to the world's most intense spell of due diligence. We wait and see...

 

If it's an indicative offer wouldn't that suggest that more than one party/ group are interested?

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Kingsland Codger

Kingsland Codger

Posted
Posted
This classic is delusion by the few. PMSL 17

The Moderator

Monday, March 12, 2012 at 08:39 AM

Its you who is rubbish Birch not the rumours. Your decision to send our best players out on loan will come back to haunt you. Firstly it will start with a huge loss in revenue due to lower gates. Secondly a huge loss in transfer fees when the players are sold as Division 1 and not Championship players. As far as I am concerned your clueless decisions will be the death of our club. What happened to the being open and honest about Pompey dealings, why have you decided to keep the Henderson deal undisclossed ? The only reason can be that you know we will all be up in arms should we know you sold him for peanuts !

 

What is it about the words "your club is in administration" that they don't understand?

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holepuncture

holepuncture

Posted
Posted
It depends on if they can shake off Sacha & Balu.

 

Cant just shake them off, those two heros are secured. In the words of Chinny, "I will get my money back, I am secured".

 

8 points from safety with 11 games to go, they will have to achieve auto promotion form to claw back that defecit. A little annoying that they are giving their best players to our promotion rivals, but all in all Birch is doing a pretty good job imo. So far he has bleated on about finding enough cash to see out the season, has he made any attempt to review the debt situations or is it pointless as they are totally potless?

 

 

Re Jordan Sibley and the scummers should be sued for his comments

We could get TB to take out a Class action on behalf of us all and get a couple of grand each for inury to feelings

2k at at 15000 fans would bring the club about 30 million and our debts would be wiped out in an instance

 

Genuis!

 

At least a defeat at st faries wouldn't mean much. "Oh, you beat an admin-decimated squad? Go you."

 

Yet they bang on about the 4-1 in the cup, Saints in the 3rd tier and pompeys premier league wage bill....

 

Go through phases of being numb to it and being despondent. One of the hardest things for me is trying to explain to my boys what's happening and why we keep losing.

 

heartbreaking im sure but the answer is simple = we are being punished for cheating.

 

I just can't be happy non footballing wise with this in my shadow everyday, just can't be in a good mood at all the way it is with pompey and it's fustrating... doubt anyone understands what I mean though. I don't wanna be in league 1, I don't wanna be liqudated, I just want to support a club without trouble in a decent league beating scummers and not letting them have one over us, fact.

 

LOVE this!

 

Stand up and show them what they are sooooooooo flipping jealous of!

 

eh? WTFILN

 

I feel low, I feel like we are going into the 12th needing a knockout with blood pouring down our face.

 

PMSL... i prefer the 'skate fish flapping on the poop deck, waiting to be clubbed over the head and put out of its misery'.

 

And if I stepped outside and saw a scummer right now, they'd be in hospital by the time I finished with them. Fook it, I'm already having the worst year of my life, might as well make it the whole hog and have a criminal record to go with it

 

the hangovers starting to kick in!

 

Mr_Burns_evil.gif

 

 

taking small steps to justice, and I 4-1 am delighted.

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Minsk

Minsk

Posted
Posted
This classic is delusion by the few. PMSL 17

The Moderator

Monday, March 12, 2012 at 08:39 AM

Its you who is rubbish Birch not the rumours. Your decision to send our best players out on loan will come back to haunt you. Firstly it will start with a huge loss in revenue due to lower gates. Secondly a huge loss in transfer fees when the players are sold as Division 1 and not Championship players. As far as I am concerned your clueless decisions will be the death of our club. What happened to the being open and honest about Pompey dealings, why have you decided to keep the Henderson deal undisclossed ? The only reason can be that you know we will all be up in arms should we know you sold him for peanuts !

 

Errmmm, he can't have been sold for anything the transfer window is closed. Or are they trying to cheat the system again?

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Kingsbridge Saint

Kingsbridge Saint

Posted
Posted

Family club of the Year? Is someone having a laff? FFS even their disabled section were up giving it large when we played down there. I cant think of anywhere worse to take children to watch football. An example of everything that is wrong with the game. Stuck in a 70's Hooligan timewarp. Disgraceful tinpot ducking and diving apology for a football club with Neanderthal violent support. Family Club of the Year. FFS

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Viking Warrior

Viking Warrior

Posted
Posted

As you say Holepunch

 

Pure Genius !!!

 

Re Jordan Sibley and the scummers should be sued for his comments

We could get TB to take out a Class action on behalf of us all and get a couple of grand each for inury to feelings

2k at at 15000 fans would bring the club about 30 million and our debts would be wiped out in an instance

 

 

I wonder if they will do that but would they donate the money to the club or spend it down in southsea?

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pedg

pedg

Posted
Posted
If it's an indicative offer wouldn't that suggest that more than one party/ group are interested?

 

Why? As far as I can tell its would be someone saying to Birch "I/We offer to buy the club for this much, thought the figure may change depending on what I find out". Just a method of showing you are serious (though one assumes you would have to show proof that you had the money). Its up to Birch to decide what is best for the creditors so he would have to balance what they would get from a probably low price offer to buy the club against selling its parts via liquidation. Does not necessarily mean a bidding process between two parties.

 

Plus its all a rumour at the moment, just remember what hope does..

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stevegrant

stevegrant

Posted
Posted
If it's an indicative offer wouldn't that suggest that more than one party/ group are interested?

Not in the slightest. All it suggests is that this particular party is interested, subject to due diligence and coming to various agreements with certain people whose identity should be obvious. As an example, I would imagine if they can't settle Chainrai's debenture for the square root of **** all, the deal will be off the table straight away.

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Corporate Ho

Corporate Ho

Posted
Posted
Not in the slightest. All it suggests is that this particular party is interested, subject to due diligence and coming to various agreements with certain people whose identity should be obvious. As an example, I would imagine if they can't settle Chainrai's debenture for the square root of **** all, the deal will be off the table straight away.

 

I thought the term "indicative bid" was generally used as part of an auction process to assess which bid was the strongest? Or was the term just used to indicate that someone was going to make a bid?

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dubai_phil

dubai_phil

Posted
Posted
Not in the slightest. All it suggests is that this particular party is interested, subject to due diligence and coming to various agreements with certain people whose identity should be obvious. As an example, I would imagine if they can't settle Chainrai's debenture for the square root of **** all, the deal will be off the table straight away.

 

Ah good so that's a non-starter then.

 

Or to put it another way

 

TB will sell to the highest bidder

 

Chinny bids 218 pounds 75 pence (Outbidding the SMS consortium after The Northam & Itchen pick up all the coins they throw at us)

 

He still gets total ownership of the land and the facilities after being a hero and selling the club to the trust for a pound with a Caveat to pay him X% of revenue each year for 100 years

 

Chinny only needs to bid a pound more. TB's remit is sod all to do with saving the club, simply getting the best deal for Creditors

 

Trust get the club. Chinny gets Tesco's

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stevegrant

stevegrant

Posted
Posted
I thought the term "indicative bid" was generally used as part of an auction process to assess which bid was the strongest? Or was the term just used to indicate that someone was going to make a bid?

There's nothing to "bid" for, per se, there is no auction because - as far as everyone's aware at the moment - there are no other serious interested parties.

 

Saints received an "indicative offer" from SISU back in 2008, a document which spelled out what their offer entailed for both the club and the shareholders, how it would be financed, how it would improve the current financial situation of the club, etc. It's basically saying "this is what we will probably offer, is that likely to be acceptable? If not, we won't waste time and money with lawyers, accountants, etc". With Saints, the three major shareholders all told them to **** off, so SISU went elsewhere.

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Sevvy

Sevvy

Posted
Posted

119Coach

Monday, March 12, 2012 at 01:32 PM For wjd. With regard to the CVA, (The first one) that will likely incur a points deduction as it will have collapsed and deemed unworkable. My understanding is that when this happens, the debt reverts back to the original amounts (100 million) + the new debt (50 million) and because the first one was not honoured, would require 100% creditor approval, which just won't happen. Previous punishments for non approved CVA's is minus 25 points, so there is a chance that minus 25 points could be applied this season for the first CVA and then another minus 25 at the start of next season.

 

Now wouldnt this be nice if true,

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pedg

pedg

Posted
Posted

Also I believe an 'indicative bid' is one where the possibly buying party effectively says "With what we know we are willing to pay X but may change our mind when we have had a look at the books". If on looking at the books they find problems they did not know about before (surely not!) they are then within their rights to reduce the size of the bid or withdraw it all together.

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stevegrant

stevegrant

Posted
Posted
119Coach

Monday, March 12, 2012 at 01:32 PM For wjd. With regard to the CVA, (The first one) that will likely incur a points deduction as it will have collapsed and deemed unworkable. My understanding is that when this happens, the debt reverts back to the original amounts (100 million) + the new debt (50 million) and because the first one was not honoured, would require 100% creditor approval, which just won't happen. Previous punishments for non approved CVA's is minus 25 points, so there is a chance that minus 25 points could be applied this season for the first CVA and then another minus 25 at the start of next season.

 

Now wouldnt this be nice if true,

Nice, except the scenario and figures he's come up with are all garbage.

 

There is no precedent for any club not getting a CVA approved receiving a 25-point deduction. The only ones are 15 (Leeds), 17 (Bournemouth, Rotherham) and 20 (Luton).

 

The main problem I see is that the football club itself isn't responsible for the CVA as far as the law is concerned. The company responsible for it has been liquidated, with the current football club company having signed an agreement to make payments towards it. Technically, the football club itself probably wouldn't be in default of the CVA when the payment is not made on April 1st. There's also the issue that, because they're in administration, debts are frozen and they are afforded protection from their creditors, so Baker Tilly can't touch them.

 

Also, as far as I'm aware, there hasn't yet been a case of a football club failing to make payments on a CVA. Another can of worms for the Football League to deal with.

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pedg

pedg

Posted
Posted
That's the real nightmare for the FL - a legal challenge to any decision on points penalties that makes their governance look a bit useless.

 

Sounds like the ideal scenario for the FL is that pompey complete their fixtures, are 'relegated' and then are liquidated. Then they just have to decide about how to rebalance the leagues.

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