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Pompey Takeover Saga


Fitzhugh Fella

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Ok lets summarize - doing thsi for my own good and need input from the knowledgeable on this to correct:

 

1. The current situation - they have shipped out some high earners on loans and have agreed wage deferrals with others so that we can assume there current opperating costs are now likely to be covered by their revenue from gate recipts and normal FL payments/trading etc (or at least the monthly cash flow is sorted, but the liabilities have not really changed - just put off to the end of the season)

 

2. They are due to pay Gaydamrk an installment soon? how much? and is this covered by the anticpated revenues

 

3. they are due to pay an installment of the CVA (old one) in April -so either they have these funds available OR they are not planning to pay this installment given that a sthey are now in a new administration, they will be classing Baker Tiley CVA as a creditor (nonsecured) and they will get their cahnce to vote for or against this when teh time comes

 

Questions on this:

 

a) Would the FL classify this as a failure to of the holder of the golden share (old or new co is potentially irrelevent) to fulfil the obligations of the original CVA or would they only take such action IF a current CVA is not agreed?

 

I asked this question of the football league and got a brush off that they could not talk about the situation at portsmouth (despite the fact that I did not mention Portsmouth in my email ;-))

 

b) Even if a new CVA is agreed which includes an agreement from baker tiley to accept less - how will this be viewed by the FL as they have still in effect defaulted on the last CVA? (although in theory that was under premier league rules and under their jurisdiction rather than the FL - something else that does in theory provide the FL with an escape clause should they chose not to punish Portsmouth as a result of previous CVA dilution - 'not a FL club when this ws agreed')

 

3) so now we assume that Portsmouth will get to May - but that they will have build up additional debts as a result of deferred player wage payments and the subsequent return of loanees...

 

4) Has Birch discovered a way of telling Chinney to feck off about his 17mil?

 

5) this would mean those with a say in agreeing the CVA would be Baker Tiley, CSI, HMRC and the football creditors - would they get one?

 

6) BIrch says 'buy the club debt free' .... well possible if the purchase price is simply teh cost of meeting teh obligations of the football creditors and an agreed new CVA which could be as low as 12 mil or so......

 

7) no buyer and toast?

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Re FCs point:

b) Even if a new CVA is agreed which includes an agreement from baker tiley to accept less - how will this be viewed by the FL as they have still in effect defaulted on the last CVA? (although in theory that was under premier league rules and under their jurisdiction rather than the FL - something else that does in theory provide the FL with an escape clause should they chose not to punish Portsmouth as a result of previous CVA dilution - 'not a FL club when this ws agreed')

 

 

I think they went into admin whilst in the PL, but the CVA was agreed when they came out of admin whilst in the FL?

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yes we admit it - Terry Gennoe was caught doing 33mph in a 30mph limit in 1979.

And you are right - this wipes out the last ten years of money-laundering accusations, tax evasion, financial irregularities, prossie-bothering, organised crime, kiddie-fiddling, war crimes and backhanders previously attributed to the club and staff to the east, and referred to on here in such smug and aloof terms.

 

Our moral high ground has proved to be nothing but a sandy heap that has crumbled now our club's criminality has been so cruelly exposed.

My cheeks are crimson with shame, our clubs are once again equal.:cry:

 

 

 

And we nailed the attendance debate good and proper when you were away trying to avoid reality - one win and they all return...

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Oh really? How about a truly pathetic 396 at Hull last night? THAT'S desperate...

 

Where have you got that from?

 

It was actually over 700, for a midweek trip to Hull. Pretty good really considering no-one working a 9-til-5 job in Hampshire could possibly get to the match given the huge distance involved for a 7:45pm kick-off.

 

You really aren't in a position to question Saints attendance's!

 

- First game after administration for Saints over 27,000 turn up to St Mary's, for Pompey 16,000 turn up to Fratton Park.

- Last night only 12k vs Birmingham for a game with cheap tickets for schools, 2 for £25 and 4 for £44 ticket deals.

 

You have been taken in by the media myth's of Pompey's fanbase. It is actually quite appauling. You only need to go back to the 1990's for sub 10k averages at Fratton Park.

 

If Pompey go down to League One next season they won't get remotely close to the 22,000 average Saints had both seasons in the 3rd tier. Especially with far smaller away crowds from League One teams going to Fratton Park compared to what Championship clubs bring. Pompey will be lucky to break the 10,000 barrier next season in League One.

Edited by Matthew Le God
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I'd have thought pfc's comment was the cue for you to post those images of Pompey away attendances again ;)

 

The first one is good as just last week we had 2,400 there (for our second visit and 4th game of the season) Shalala

 

first+half.JPG

 

southamptonfcstadium970.jpg

 

If I were a skate, I would be more concerned about the good man Chainrai

 

205484_1.jpg

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Oh really? How about a truly pathetic 396 at Hull last night? THAT'S desperate...

 

Desperate is an unsellable 'club' with no assets, serial liquidations, poor team at the bottom of the league, manky ground that you don't even own, the laughing stock of the football world whose legacy (for the short time they'll be remembered) will be as the cheats who lived so far beyond what is honest and proper that they eventually replicated the deluded population of the town whose name they used to bear the name of.

 

Desperate is trying to score petty points using flawed information on a forum that is not even your own, desperate is fraudulently playing the victim card whilst attempting to portray a fickle, putrid and dwindling 'following' as something to be proud of...the image of PFC in whatever '90s, 201...whatever incarnation will be associated with the mangy, tattooed drunk with the bell and the crowd of fleas that accompany it..a truer representation of a club/city than any other portrayed.

 

Desperate is a succession of shady, criminally inclined 'owners' all welcomed with open arms regardless ofwhether they'd maimed, robbed or mutilated..desperate is inventing one that didn't even exist in a shabby attempt to get what to your festering excuse for a club was some kind of respectability...and in comparison with the real ones was probably not a bad attempt. Desperation is claiming that Riquelme, Maradona were about to 'grace' your threadbare pitch, desperation is boasting of paying players fat salaries when charities went unpaid..desperation is about the consequences of not learning the lessons of last century let alone last year and once more fleecing ordinary taxpayers, working people and those beyond the football world...

 

Desperation is what you see for the future...no buyer, no chance of paying debts, points deductions looming...you're looking the desperation of liquidated reality in the face and you deserve every desperate second that you've earned of it.

 

Desperation is being unmourned, unloved and reviled by even those beyond the football world in your desperate final throes.

 

Desperate is a word that you will remember for it's real meaning very soon.

Edited by dronskisaint
typo
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Desperate is an unsellable 'club' with no assets, serial liquidations, poor team at the bottom of the league, manky ground that you don't even own, the laughing stock of the football world whose legacy (for the short time they'll be remembered) will be as the cheats who lived so far beyond what is honest and proper that they eventually replicated the deluded population of the town whose name they used to bear the name of.

 

Desperate is trying to score petty points using flawed information on a forum that is not even your own, desperate is fraudulently playing the victim card whilst attempting to portray a fickle, putrid and dwindling 'following' as something to be proud of...the image of PFC in whatever '90s, 201...whatever incarnation will be associated with the mangy, tattooed drunk with the bell and the crowd of fleas that accompany it..a truer representation of a club/city than any other portrayed.

 

Desperate is a succession of shady, criminally inclined 'owners' all welcomed with open arms regardless ofwhether they'd maimed, robbed or mutilated..desperate is inventing one that didn't even exist in a shabby attempt to get what to your festering excuse for a club was some kind of respectability...and in comparison with the real ones was probably not a bad attempt. Desperation is claiming that Riquelme, Maradona were about to 'grace' your threadbare pitch, desperation is boasting of paying players fat salaries when charities went unpaid..desperation is about the consequences of not learning the lessons of last century let alone last year and once more fleecing ordinary taxpayers, working people and those beyond the football world...

 

Desperation is what you see for the future...no buyer, no chance of paying debts, points deductions looming...you're looking the desperation of liquidated reality in the face and you deserve every desperate second that you've earned of it.

 

Desperation is being unmourned, unloved and reviled by even those beyond the football world in your desperate final throes.

 

Desperate is a word that you will remember for it's real meaning very soon.

 

That has to be one of the best retorts I've ever read.

 

Stick that in your pipe and smoke it, pfc123. Here, borrow me lighter.

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Oh really? How about a truly pathetic 396 at Hull on 17th September 2011? THAT'S desperate...

 

There, I've corrected it for you.

 

Oh, thanks.**

 

You're welcome.

 

 

 

 

 

 

**Eagle-eyed forum readers may spot the slightly fabricated statement in this post.

Edited by Pugwash
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Indeed. "guarenteed (sic) 15,000 attendances every home game..."

 

Our average this season? 14805. :facepalm:

 

:lol: you're an idiot.

 

Assuming 14805 is your genuine supporter base crowd, last time I did the maths 14805 was less than 15000 but better not let facts get in the way eh?

 

One major problem with this is that 14805 is a skewed total so let's look realistically at what your guarenteed attendances are going to be. Assuming the following -

 

* For the last 4 home games there's been mass ticket price reductions and a big push from the club to get bums on seats so I think all attendances post 17-Feb should be discounted from the calc.

* Given there's a possibility Saints, WetSpam & Reading will not be in the division next year to boost your attendances (replaced probably by Wolves, Wigan & Bolton - can't see them attracting big crowds), I think they should be removed from attnedance calcs.

 

Upon recalculating with the above in mind I get 13740 at best and that's not even taking into account of the probability that you may well be in League 1 next year.

 

15000 guarenteed - my a75e!

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:lol: you're an idiot.

 

Assuming 14805 is your genuine supporter base crowd, last time I did the maths 14805 was less than 15000 but better not let facts get in the way eh?

 

One major problem with this is that 14805 is a skewed total so let's look realistically at what your guarenteed attendances are going to be. Assuming the following -

 

* For the last 4 home games there's been mass ticket price reductions and a big push from the club to get bums on seats so I think all attendances post 17-Feb should be discounted from the calc.

* Given there's a possibility Saints, WetSpam & Reading will not be in the division next year to boost your attendances (replaced probably by Wolves, Wigan & Bolton - can't see them attracting big crowds), I think they should be removed from attnedance calcs.

 

Upon recalculating with the above in mind I get 13740 at best and that's not even taking into account of the probability that you may well be in League 1 next year.

 

15000 guarenteed - my a75e!

 

You're overworking the logic/maths. If the average is less than 15,000 then that means (broadly) less than half the time do they reach or exceed 15,000. But they are claiming it is "guaranteed", which is to say it is a minimum attendance. That is clearly not true as over half the time they are falling well short of that mark.

 

Their "guaranteed" in the Championship is probably more like 11,000. The midweek game against Birmingham they only got 12,000 and this is with a fair few from Birmingham, plus the pack the park and cheapey specials.

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