Pompey Takeover Saga

[Truckasaurus]

If portsmuff go into liquidation Trev can sell the ground to the person or persons with the "best" bid. It is up to him to get the most for the creditors.

 

If they don't go into liquidation,it means someone has had to spend alot of money.

 

Then whoever owns the ground has a financial headache in keeping it up to Health and Safety standards.

 

Unless it is Tescos

 

God bless HMRC

[dronskisaint]

If portsmuff go into liquidation Trev can sell the ground to the person or persons with the "best" bid. It is up to him to get the most for the creditors.

 

If they don't go into liquidation,it means someone has had to spend alot of money.

 

Then whoever owns the ground has a financial headache in keeping it up to Health and Safety standards.

 

Unless it is Tescos

 

God bless HMRC

 

I'm not sure that someone with a charge over a property can be considered to a normal creditor which is what Birch seems to be implying? Ultimately it is Chanrai's ****h ole to keep or dispose of whatever the value or am I misreading the situation?

[Gemmel]

http://www.communitypompey.co.uk/downloads/leaflet.pdf

 

Enterprise Investment Scheme (Tax Relief)

 

Someone please tell me they are having a laugh

[Frank's cousin]

Quick question... for the financial types: If the exit admin without a CVA in place, what happens to their debt? (assuming a purchaser does not come in an pay it all off...ha ha) - how can a club avoid liquidtaion underthose circumstances? Or, do they in effect do what they did before liquidate newco2010 thus removing all debt nd start again as new co 2012 with the golden share, but -17 or whatever the Fl decides to punish them with?

 

Re failing to pay a penny of the current CVA - I believ Admin protects them, but also feel that even if it did not, the Fl would be hesitant of any additianl points deduction since that CVA was agreed in the previous admin, when Pompey were not in the FL?... or did their admin exist occur after they were members of teh FL rather than teh PL? Cant recall the timing?

[eurosaint]

Quick question... for the financial types: If the exit admin without a CVA in place' date=' what happens to their debt? (assuming a purchaser does not come in an pay it all off...ha ha) - how can a club avoid liquidtaion underthose circumstances? Or, [b']do they in effect do what they did before liquidate newco2010 thus removing all debt nd start again[/b] as new co 2012 with the golden share, but -17 or whatever the Fl decides to punish them with?

 

Re failing to pay a penny of the current CVA - I believ Admin protects them, but also feel that even if it did not, the Fl would be hesitant of any additianl points deduction since that CVA was agreed in the previous admin, when Pompey were not in the FL?... or did their admin exist occur after they were members of teh FL rather than teh PL? Cant recall the timing?

 

They did not 'liquidate' last time, they exited with a CVA which they have now reneged upon !!

The big question now is only "do the FL have the balls to penalise them further for defaulting on the previous 'insolvency event' ??

It's an all new scenario once again, the Skates really do make the lawyers at the FA and FL work for their money !!!!

[trousers]

They did not 'liquidate' last time, they exited with a CVA which they have now reneged upon !!

The big question now is only "do the FL have the balls to penalise them further for defaulting on the previous 'insolvency event' ??

It's an all new scenario once again, the Skates really do make the lawyers at the FA and FL work for their money !!!!

 

Yep....Pompey are effectively now in exactly the same position they would have been in had they not got a CVA agreed last time....except for one thing...further points deduction....

 

Same fiscal outcome....different number of points deducted....go figure...

[positivepete]

It is fair to say that the FL are hoping that the situation will sort itself out (i.e. relegation) without further intervention this season to avoid the charge that the FL has made selling the club more difficult. The situation changes at the end of the season however, and if the NewNewCo try to apply for the golden share without honouring the previous CVA, or having a new one in place which recognises the old one, I am pretty certain that the FL will not grant the share, they recognise that then the integrity of the competition is really thrown into doubt, and the other clubs will not allow it.

[buctootim]

Birch keeps insisting that he can sell fratton park for whatever amounts he can get for it and Chanerai will have to lump it. Does anyone know if this is true or not? With a charge over the ground, can he decide he doesn't two million quid or whatever and just keep the ground?

The whole trust proposal (Which is doomed to failure anyway) is based on the fact that chinny will just have to walk away

It is true, but Chinny is not precluded from bidding. That means, imo, that if a developer bids £17m Chinny will be happy, but if Birch only has one offer of £1 from the trust then Chinny will step in and buy it himself. The big question is whether the sale process will be by secret 'best and final' sealed bids, which makes selling Fratton into a poker game or whether bidders will know what the current price is when they bid.

[Viking Warrior]

Wheres Brian Mawhinny now. He would have put them to the sword just like he did to us

[Truckasaurus]

Dirty,cheating,vile,bend the rules,lie,squirm,"everybodys against us",awful,bunch of hooligans,F**k the charities,screw the revenue,bestest ™,filthy,hole of a place,will get away with it,again and again and again.Scum.Most of their supporters are scum. The FL do f**k all,(oh yeah -10,big f*****g deal)

 

I've had enough of this joke of a club,i really have. At every turn they take the p**s.

 

I just want them to f**k off and die.

 

God bless HMRC.

[mack rill]

Dirty,cheating,vile,bend the rules,lie,squirm,"everybodys against us",awful,bunch of hooligans,F**k the charities,screw the revenue,bestest ™,filthy,hole of a place,will get away with it,again and again and again.Scum.Most of their supporters are scum. The FL do f**k all,(oh yeah -10,big f*****g deal)

 

I've had enough of this joke of a club,i really have. At every turn they take the p**s.

 

I just want them to f**k off and die.

 

closet skate alert!

[Gemmel]

.closet skate alert!

 

Where the fook have you been mackers? Was that one her Majestys holidays?

 

Anyway welcome back, just in time for Saturday :) :)

[Truckasaurus]

Mack rill,nothing personal

[OVER THE HILL]

Welcome back Mack.

 

Will the collecting buckets be out on Saturday ?

[Saint_John]

Quick question... for the financial types: If the exit admin without a CVA in place, what happens to their debt? (assuming a purchaser does not come in an pay it all off...ha ha) - how can a club avoid liquidtaion underthose circumstances? Or, do they in effect do what they did before liquidate newco2010 thus removing all debt nd start again as new co 2012 with the golden share, but -17 or whatever the Fl decides to punish them with?

 

Re failing to pay a penny of the current CVA - I believ Admin protects them, but also feel that even if it did not, the Fl would be hesitant of any additianl points deduction since that CVA was agreed in the previous admin, when Pompey were not in the FL?... or did their admin exist occur after they were members of teh FL rather than teh PL? Cant recall the timing?

In the case of Rotherham, Bournemouth and Luton who came out of Admin without a CVA the Football League said the newco must pay the amount offered in the CVA to unsecured creditors as well as giving them a large points penalty.

 

Rotherham - http://www.football-league.co.uk/footballleaguenews/20080806/fl-board-statement_2293334_1359838

Bournemouth - http://www.football-league.co.uk/footballleaguenews/20080807/league-make-bournemouth-offer_2293334_1360692

Luton - http://www.football-league.co.uk/footballleaguenews/20080710/league-board-considers-clubs-in-administration_2293334_1353487

 

I believe Leeds only offered a small amount (1p) in their original cva, but because of legal action by one of the creditors it got raised to 8p

 

The Cheats FC came out of Admin on 24 Oct 2010 while under the control of the Football League

http://www.football-league.co.uk/championship/news/20101024/pompey-exit-administration_2293322_2193579

[TopGun]

In the case of Rotherham, Bournemouth and Luton who came out of Admin without a CVA the Football League said the newco must pay the amount offered in the CVA to unsecured creditors as well as giving them a large points penalty.

 

Rotherham - http://www.football-league.co.uk/footballleaguenews/20080806/fl-board-statement_2293334_1359838

Bournemouth - http://www.football-league.co.uk/footballleaguenews/20080807/league-make-bournemouth-offer_2293334_1360692

Luton - http://www.football-league.co.uk/footballleaguenews/20080710/league-board-considers-clubs-in-administration_2293334_1353487

 

I believe Leeds only offered a small amount (1p) in their original cva, but because of legal action by one of the creditors it got raised to 8p

 

The Cheats FC came out of Admin on 24 Oct 2010 while under the control of the Football League

http://www.football-league.co.uk/championship/news/20101024/pompey-exit-administration_2293322_2193579

 

But I think this is new territory. Portsmouth did come out of admin with a CVA. But it has failed and they are back in admin. No precedents.

[Dark Munster]

Wheres Brian Mawhinny now. He would have put them to the sword just like he did to us

 

 

Indeed he would.

 

How I miss the old bastard.

[trousers]

But I think this is new territory. Portsmouth did come out of admin with a CVA. But it has failed and they are back in admin. No precedents.

 

Depends if you look at the 'cause' or the 'effect'....given the end result is the same (I.e. no CVA) there is a precedent for the 'effect' side of the equation...

 

If the Football League don't give a further points penalty for writing off a previously agreed CVA then they are announcing to the football world that you don't have to honour a CVA....just come out of admin with a CVA....any old CVA.....spend loads more again....go into admin again....forget about the original CVA.

 

Quite why the Football League would choose to endorse such unscrupulous behaviour is beyond me...

 

And, perhaps more importantly, why hasn't a single journalist quizzed the Football League on this very specific matter...?

[Saint in Paradise]

Perhaps the journalists just don't care? As for the FL? Well they appear to only do what they want when they want.

[GenevaSaint]

But I think this is new territory. Portsmouth did come out of admin with a CVA. But it has failed and they are back in admin. No precedents.

 

Bradford city? In admin twice in two or three years, not sure about cva failure though.

[Minsk]

Depends if you look at the 'cause' or the 'effect'....given the end result is the same (I.e. no CVA) there is a precedent for the 'effect' side of the equation...

 

If the Football League don't give a further points penalty for writing off a previously agreed CVA then they are announcing to the football world that you don't have to honour a CVA....just come out of admin with a CVA....any old CVA.....spend loads more again....go into admin again....forget about the original CVA.

 

Quite why the Football League would choose to endorse such unscrupulous behaviour is beyond me...

 

And, perhaps more importantly, why hasn't a single journalist quizzed the Football League on this very specific matter...?

 

This sums up my thoughts exactly!!!

[trousers]

This sums up my thoughts exactly!!!

 

Thinking like me? I'm very worried for you... ;-))

[Fowllyd]

Depends if you look at the 'cause' or the 'effect'....given the end result is the same (I.e. no CVA) there is a precedent for the 'effect' side of the equation...

 

If the Football League don't give a further points penalty for writing off a previously agreed CVA then they are announcing to the football world that you don't have to honour a CVA....just come out of admin with a CVA....any old CVA.....spend loads more again....go into admin again....forget about the original CVA.

 

Quite why the Football League would choose to endorse such unscrupulous behaviour is beyond me...

 

And, perhaps more importantly, why hasn't a single journalist quizzed the Football League on this very specific matter...?

 

I wouldn't say that the League are endorsing anything, or at least not yet. It's probably most likely that they aren't sure what they can do, given that this exact set of circumstances hasn't come about since they brought in points penalties for administration. As there's no automatic penalty to be used, a decision will presumably have to be made by a meeting of the League's governing committee; so they'll either wait for the next scheduled meeting to come around, or they'll call a special meeting. As I recall, someone mentioned that Birch's reference to an eight-week time scale related to the next scheduled meeting of the League. In other words, they'll make their decision after the season finishes, not during it. After all, it's possible (though about as likely as Tal Ben Haim playing for free) that a buyer could be found who will honour the original CVA, in which case no additional penalty would be required.

 

Another possibility (and a very strong one indeed I would think) is that the League are hoping that they won't even need a decision on any additional action. There's still a very good chance that Pompey as they are will cease to exist; if no buyer is forthcoming then this becomes a certainty. For all their brave words, the Supporters' Trust scheme can only possibly work if the current club is liquidated, as they don't have a hope in hell of raising enough to buy out Chainrai and Gaydamak otherwise. And, if liquidation does happen, Pompey will be out of the Football League's hair without causing them the trouble of having to do or decide anything at all. Sounds like the ideal outcome for the League to me.

[eurosaint]

I wouldn't say that the League are endorsing anything, or at least not yet. It's probably most likely that they aren't sure what they can do, given that this exact set of circumstances hasn't come about since they brought in points penalties for administration. As there's no automatic penalty to be used, a decision will presumably have to be made by a meeting of the League's governing committee; so they'll either wait for the next scheduled meeting to come around, or they'll call a special meeting. As I recall, someone mentioned that Birch's reference to an eight-week time scale related to the next scheduled meeting of the League. In other words, they'll make their decision after the season finishes, not during it. After all, it's possible (though about as likely as Tal Ben Haim playing for free) that a buyer could be found who will honour the original CVA, in which case no additional penalty would be required.

 

Another possibility (and a very strong one indeed I would think) is that the League are hoping that they won't even need a decision on any additional action. There's still a very good chance that Pompey as they are will cease to exist; if no buyer is forthcoming then this becomes a certainty. For all their brave words, the Supporters' Trust scheme can only possibly work if the current club is liquidated, as they don't have a hope in hell of raising enough to buy out Chainrai and Gaydamak otherwise. And, if liquidation does happen, Pompey will be out of the Football League's hair without causing them the trouble of having to do or decide anything at all. Sounds like the ideal outcome for the League to me.

 

TB made the point that the sale could go through without any need to negotiate with Gaydamak as his land is not actually required to operate as a football club !

I assume that the current rent agreement for access/car parking could stay in place irrespective of who the new owner is ?

Of course if ever they get to a stage where they feel able to develop the site (still a pipe dream, methinks!) then he could well hold them to ransom, but for the moment only Chinny stands in the way of selling the club for a quid + debts !!!

[sidthesquid]

I wouldn't say that the League are endorsing anything, or at least not yet. It's probably most likely that they aren't sure what they can do, given that this exact set of circumstances hasn't come about since they brought in points penalties for administration. As there's no automatic penalty to be used, a decision will presumably have to be made by a meeting of the League's governing committee; so they'll either wait for the next scheduled meeting to come around, or they'll call a special meeting. As I recall, someone mentioned that Birch's reference to an eight-week time scale related to the next scheduled meeting of the League. In other words, they'll make their decision after the season finishes, not during it. After all, it's possible (though about as likely as Tal Ben Haim playing for free) that a buyer could be found who will honour the original CVA, in which case no additional penalty would be required.

 

Another possibility (and a very strong one indeed I would think) is that the League are hoping that they won't even need a decision on any additional action. There's still a very good chance that Pompey as they are will cease to exist; if no buyer is forthcoming then this becomes a certainty. For all their brave words, the Supporters' Trust scheme can only possibly work if the current club is liquidated, as they don't have a hope in hell of raising enough to buy out Chainrai and Gaydamak otherwise. And, if liquidation does happen, Pompey will be out of the Football League's hair without causing them the trouble of having to do or decide anything at all. Sounds like the ideal outcome for the League to me.

 

Strangely, that outcome works for me, too.

[trousers]

I wouldn't say that the League are endorsing anything, or at least not yet. It's probably most likely that they aren't sure what they can do, given that this exact set of circumstances hasn't come about since they brought in points penalties for administration. As there's no automatic penalty to be used, a decision will presumably have to be made by a meeting of the League's governing committee; so they'll either wait for the next scheduled meeting to come around, or they'll call a special meeting. As I recall, someone mentioned that Birch's reference to an eight-week time scale related to the next scheduled meeting of the League. In other words, they'll make their decision after the season finishes, not during it. After all, it's possible (though about as likely as Tal Ben Haim playing for free) that a buyer could be found who will honour the original CVA, in which case no additional penalty would be required

 

In which case, Birch would be lying and/or jumping the gun when he announced a few weeks ago that the original CVA was dead....kaput....no more....

 

The 'exact set of circumstance' hadn't happened before in our admin scenario either (trying to protect the football club by putting the parent company into administration) but they came up with a new interpretation of existing rules for that one fast enough...

 

Whichever way it's spun, it's quite clear that Pompey are receiving special treatment here. IMO of course

[trousers]

Meanwhile...it's business as usual as far as Appleton is concerned...

 

@pn_neil_allen: Appleton recruitment drive firmly underway as he looks to #Pompey future. http://t.co/yqpwOFsV

[ALWAYS_SFC]

Meanwhile...it's business as usual as far as Appleton is concerned...

 

@pn_neil_allen: Appleton recruitment drive firmly underway as he looks to #Pompey future. http://t.co/yqpwOFsV

 

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/appleton-plots-bright-future-1-3693051

[CB Saint]

Meanwhile...it's business as usual as far as Appleton is concerned...

 

@pn_neil_allen: Appleton recruitment drive firmly underway as he looks to #Pompey future. http://t.co/yqpwOFsV

 

"It might be I am looking at recruiting a player now who is probably playing in the Championship.‘But if we did go down – and that is a worst-case scenario – he would be prepared to play in League One for one season."

 

So not content with paying premiership wages in the championship, they are intending to pay championship wages in league 1. Business as usual then.

Edited 3 April, 2012 by CB Saint
poor spelling due to angry typing

[trousers]

"It might be I am looking at recruiting a player now who is probably playing in the Championship.‘But if we did go down – and that is a worst-case scenario – he would be prepared to play in League One for one season."

 

So not content with paying premiership wages in the championship, they are intending to pay championship wages in league 1. Business as usual then.

 

I was going to reply "unbelievable isn't it?" but then realised it's totally and utterly believable!

[pedg]

Is this right?

 

Large debt by oldco was converted into CVA.

newco made commitment to pay money for CVA to BT who are managing the liquidation of oldco.

 

If so what does happen if the old CVA ceases to exist? Can the reinflated debt be attached to newco? If not what happens to it?

[trousers]

Another deadline that is fast approaching for Birch is the legal requirement to hold an initial creditors meeting "within 10 weeks" of the administrator being appointed (ref: paragraph 51 of Schedule B1 to the Insolvency Act 1986)

 

Requirement for initial creditors’ meeting

 

51(1)Each copy of an administrator’s statement of proposals sent to a creditor under paragraph 49(4)(b) must be accompanied by an invitation to a creditors’ meeting (an “initial creditors’ meeting”).

(2)The date set for an initial creditors’ meeting must be—

(a)as soon as is reasonably practicable after the company enters administration, and

(b)in any event, within the period of ten weeks beginning with the date on which the company enters administration.

(3)An administrator shall present a copy of his statement of proposals to an initial creditors’ meeting.

(4)A period specified in this paragraph may be varied in accordance with paragraph 107.

(5)An administrator commits an offence if he fails without reasonable excuse to comply with a requirement of this paragraph.

 

As a reminder, Birch was appointed administrator on Friday 17th February, ergo the 10 weeks is up on Friday 27th April....a little over 3 weeks time...16 working days and counting....

 

Don't you think he ought to be getting his skates on (pun intended) and announce a date for said statutory meeting?

 

Unless Birch has no intention of avoiding liquidation before the end of the month of course.....

 

edit: looking closer at that paragraph of the Insolvency Act (above) the bit in blue about varying the time frame is covered in paragraph 105, which states:

 

Extension of time limit

 

107(1)Where a provision of this Schedule provides that a period may be varied in accordance with this paragraph, the period may be varied in respect of a company—

(a)by the court, and

(b)on the application of the administrator.

 

(2)A time period may be extended in respect of a company under this paragraph—

(a)more than once, and

(b)after expiry.

 

 

So, on reflection, it would seem that there might be some 'wriggle room' for Birch here....which is a little annoying for those of us that like to see justice done in a timely fashion.....assuming he has a valid reason for deferring the initial creditors meeting of course....

Edited 3 April, 2012 by trousers

[EastleighSoulBoy]

I wouldn't say that the League are endorsing anything, or at least not yet. It's probably most likely that they aren't sure what they can do, given that this exact set of circumstances hasn't come about since they brought in points penalties for administration. As there's no automatic penalty to be used, a decision will presumably have to be made by a meeting of the League's governing committee; so they'll either wait for the next scheduled meeting to come around, or they'll call a special meeting. As I recall, someone mentioned that Birch's reference to an eight-week time scale related to the next scheduled meeting of the League. In other words, they'll make their decision after the season finishes, not during it. After all, it's possible (though about as likely as Tal Ben Haim playing for free) that a buyer could be found who will honour the original CVA, in which case no additional penalty would be required.

 

Another possibility (and a very strong one indeed I would think) is that the League are hoping that they won't even need a decision on any additional action. There's still a very good chance that Pompey as they are will cease to exist; if no buyer is forthcoming then this becomes a certainty. For all their brave words, the Supporters' Trust scheme can only possibly work if the current club is liquidated, as they don't have a hope in hell of raising enough to buy out Chainrai and Gaydamak otherwise. And, if liquidation does happen, Pompey will be out of the Football League's hair without causing them the trouble of having to do or decide anything at all. Sounds like the ideal outcome for the League to me.

 

 

I did pose this line of thought a few pages back and with Easter coming there is the comparison which can be drawn between the FL and Pontius Pilate. It's all a matter of seeing what actually happens to the DFCSBs because the FL may well have to do nothing apart from apply their rules as they are. If the DFCSBs come out of this well then I think there may well be a relegation, maybe even with points deducted for the next season.

 

Or maybe the FL will think that because there's an extra Bank holiday it may be a good time to do nothing and bury the bad news in the back of the sports pages.

[saint si]

Another deadline that is fast approaching for Birch is the legal requirement to hold an initial creditors meeting "within 10 weeks" of the administrator being appointed (ref: paragraph 51 of Schedule B1 to the Insolvency Act 1986)

 

 

 

As a reminder, Birch was appointed administrator on Friday 17th February ergo the 10 weeks is up on Friday 27th April....a little over 3 weeks time...16 working days and counting....

 

Don't you think he ought to be getting his skates on (pun intended) and announce a date for said statutory meeting?

 

Unless Birch has no intention of avoiding liquidation before the end of the month of course.....

 

It also says it has to be as soon as is reasonably practicable... so what's stopped him having it already?

[trousers]

It also says it has to be as soon as is reasonably practicable... so what's stopped him having it already?

 

Indeed. Although stretching things out until the last minute seems to be all the rage.....Admin Andy held the same meeting for CSI one day before the 10 week deadline.....make of that what you will....

Edited 3 April, 2012 by trousers

[Gemmel]

It also says it has to be as soon as is reasonably practicable... so what's stopped him having it already?

 

He doesn't talk about going for a new CVA as a definante or with any conviction and quite frankly I just can't see one being approved.

 

I think Trousers touched on the "What happens if they exit wthout a CVA scenario" but I don't think we know for sure (May be liquidate the new old company)

 

In the mean time, with appy trying to recruit players from the Championship for league one it might be worth registering with a bulk order at "Companies House";

 

portsmouth (2013) football club ltd

portsmouth (2014) football club ltd

portsmouth (2015) football club ltd

[Viking Warrior]

Could the reason that the FL seem to be very soft on the cheats , be down to the fact they have their fingers in the Gadaymak, Anatov , chanrai money trough as well?

 

I have never seen a club in such a financial mess in the history of the game as skatesville, yet they are allowed to screw all sorts of honest folk.

 

The FL etc have no backbone. Other clubs have been treated very severely for lesser offences

 

Level playing field what a load of bollixs

[Ken Tone]

He doesn't talk about going for a new CVA as a definante or with any conviction and quite frankly I just can't see one being approved.

 

I think Trousers touched on the "What happens if they exit wthout a CVA scenario" but I don't think we know for sure (May be liquidate the new old company)

 

In the mean time, with appy trying to recruit players from the Championship for league one it might be worth registering with a bulk order at "Companies House";

 

portsmouth (2013) football club ltd

portsmouth (2014) football club ltd

portsmouth (2015) football club ltd

 

At the rate they're going, you'll need portsmouth (2013a) and (2013b) football club ltd !

[anothersaintinsouthsea]

"It might be I am looking at recruiting a player now who is probably playing in the Championship.‘But if we did go down – and that is a worst-case scenario – he would be prepared to play in League One for one season."

 

 

But is said player also willing to play the following season in League 2?

[ottery st mary]

Looks like Hayling Island is the intended destination for the pre season tour this summer..

 

In readiness for the Wessex league ..

 

I am led to believe this is due to a very wealthy benefactor who resides there and is champing at the bit to get involved with Pompey again;)

 

He wants to remain anonymous at this stage due to Saints fans too readily taking the piiish:D

[dubai_phil]

I for one am totally happy at the actions of the FL so far.

 

Once the actual CLUB went into Admin they applied the Points Penalty. It was only really some on here insisting the linkage to CSI meant they deserved the penalty sooner. So waht? Points are ONLY useful at the END of a season. They were only going to get deducted once for the Admin, The FL waited & DFCSB's duly went pop.

 

Now the CURRENT situation is simple, Wait.

 

Why? Because they may relegate themselves on the Field.

 

They try and exit without a CVA - Points Penalty

They have not honoured the old CVA - possible Points Penalty

 

I think the FL play this very well. At the END of the season poopey could have got themselves into L1 - FANTASTIC - the points penalty for next season

They have NOT relegated themselves - Fantastic - Points Penalty THIS season

 

Win Win as I see it. Then it becomes is it -10 or -27. In the worst case they could give another -10 this year and -17 NEXT. Perfect

 

They are screwed if they survive and are out of the League if they Liquidate

[trousers]

I for one am totally happy at the actions of the FL so far.

 

Once the actual CLUB went into Admin they applied the Points Penalty. It was only really some on here insisting the linkage to CSI meant they deserved the penalty sooner. So waht? Points are ONLY useful at the END of a season. They were only going to get deducted once for the Admin, The FL waited & DFCSB's duly went pop.

 

Now the CURRENT situation is simple, Wait.

 

Why? Because they may relegate themselves on the Field.

 

They try and exit without a CVA - Points Penalty

They have not honoured the old CVA - possible Points Penalty

 

I think the FL play this very well. At the END of the season poopey could have got themselves into L1 - FANTASTIC - the points penalty for next season

They have NOT relegated themselves - Fantastic - Points Penalty THIS season

 

Win Win as I see it. Then it becomes is it -10 or -27. In the worst case they could give another -10 this year and -17 NEXT. Perfect

 

They are screwed if they survive and are out of the League if they Liquidate

 

I admire your optimism sir!

[dubai_phil]

I admire your optimism sir!

 

Training Courses are available at US1500 a day, fully tax deductable of course, here's one we made earlier

 

[saint si]

http://www.bbc.co.uk/news/business-17592124

[holepuncture]

Could the reason that the FL seem to be very soft on the cheats , be down to the fact they have their fingers in the Gadaymak, Anatov , chanrai money trough as well?

 

I have never seen a club in such a financial mess in the history of the game as skatesville, yet they are allowed to screw all sorts of honest folk.

 

The FL etc have no backbone. Other clubs have been treated very severely for lesser offences

 

Level playing field what a load of bollixs

 

The criminal underworld are in control of pompey these days and the footballing authorities are out of their depth... Joseph Cala style.

 

Dave Richards was caught up in the Sulamin Al-Fahim fiasco, the PL let in Ali Al-Faraj despite him not being real and in reality was just a smokescreen for Chainrai to get security over Fratton to settle the Gadymack business dispute in Israel... that is where the authorities lost control... from there on, and with Pini Zahivi coniving in the background with his contacts the authorities were ejected from the party.

 

FA Head of Integrity David Lampitt went in as pompey CEO and defected almost instantly, by the end of his tenure he was bragging about being the second highest net spenders in the league and gave explicit backing to the russian mafia who were using the club... he even accepted a £11m loan from them...

 

 

The Antonovs are currently being protected by armed guards at their homes in London and Russia after "friend and business partner" German Gorbuntsov was gunned down in a daylight murder attempt at Canary Wharf. Antonov senior claims he knows which gang is behind the assassination attempt.

 

Vladimir Antonov is also on bail following his European Arrest Warrant by the governments of Latvia and Lithuania for large scale theft to the tune of £3-400 million.

 

Antonov was quoted saying the attempted assassination of his father was also meant to kill him, but he played it safe in Russia by driving about in a bullet proof car. It is believed Gorbuntsov was gunned down outside his London home because he had recently given told the authorities who tried to kill Antonov.

 

RUmafia, which has been bang on the money since day one, claims Antonovs associates influence peoples decision making process by placing revolvers down on the table during meetings...

 

 

These are the reasons I believe the footballing authorities are scared to act... they are scared for their lives. The game has gone to another level and its dangerous now, the authorities are now facing the prospect of questioning pompey owners/directors who are directly involved in gangland crime and mafia activity in London, Rusia, Latvia, Lithuania and most likely other countries...

 

 

and thats even before you consider the gun running Gadymack family, fueling bloody civil wars in thrid world countries for generations!

[Whitey Grandad]

Just a thought... Does the Russian Mafia's influence stretch to people who post on internet forums? I've always admired the Russian people for their hard-working dedication and rich cultural heritage.

[Minsk]

I wouldn't say that the League are endorsing anything, or at least not yet. It's probably most likely that they aren't sure what they can do, given that this exact set of circumstances hasn't come about since they brought in points penalties for administration. As there's no automatic penalty to be used, a decision will presumably have to be made by a meeting of the League's governing committee; so they'll either wait for the next scheduled meeting to come around, or they'll call a special meeting. As I recall, someone mentioned that Birch's reference to an eight-week time scale related to the next scheduled meeting of the League. In other words, they'll make their decision after the season finishes, not during it. After all, it's possible (though about as likely as Tal Ben Haim playing for free) that a buyer could be found who will honour the original CVA, in which case no additional penalty would be required.

 

Another possibility (and a very strong one indeed I would think) is that the League are hoping that they won't even need a decision on any additional action. There's still a very good chance that Pompey as they are will cease to exist; if no buyer is forthcoming then this becomes a certainty. For all their brave words, the Supporters' Trust scheme can only possibly work if the current club is liquidated, as they don't have a hope in hell of raising enough to buy out Chainrai and Gaydamak otherwise. And, if liquidation does happen, Pompey will be out of the Football League's hair without causing them the trouble of having to do or decide anything at all. Sounds like the ideal outcome for the League to me.

 

Whilst I would also be happy with this outcome, it would set a very bad precedent. This is why te FL HAVE to do something, and the sooner the better!

 

If they do nothing and the Skates are liquidated (meaning there is nothing they can do) then the next time such an event happens they will be legally obliged not to take any action against the perpetrator.

 

Therefore, what is there to stop any club going into admin at a time they can take a 10 point hit with no real effect (i.e. not relegating them) then agreing a CVA (thus no further points penalty) building up more debt and repeating - whilst also blowing off a CVA (therefore all previous debts) without having paid a penny towards it. I fully acknowledge that (currently) all footballing debts have to be repaid, but don't forget that things such as transfer fees to foreign clubs are not considered footballing debts (bizarrely!)

 

So a club could effectively sign a very good squad of players without having to pay their transfer fees - and if the FL do not take action now they are all but condoning such action. This, of course, would reflect badly on all English teams - and THEIR precious league.

[trousers]

@pn_neil_allen: The wage legacy issues which keep on destroying #Pompey (taken from the Sports Mail). http://t.co/l9OAjuAE

[Gemmel]

http://www.portsmouth.co.uk/sport/opinion/wage-bill-is-fratton-legacy-issue-that-just-won-t-go-away-1-3695140

 

 

DO you think that is tbh they are tlaking about with the shower, top button and fish and chips? (Why would the news know anything about other clubs players?

 

The second from last line is very telling.......

 

 

"So it's back to playing in the rules"

 

 

No ****, perhaps you shoud have tried that 4 years ago

[dubai_phil]

Just a thought... Does the Russian Mafia's influence stretch to people who post on internet forums? I've always admired the Russian people for their hard-working dedication and rich cultural heritage.

 

We could tell you.

 

But then.

 

We would have to kill you.