Pompey Takeover Saga

[dubai_phil]

Interesting story in the Mail, actually says that the skates bought the FA Cup.

 

http://www.dailymail.co.uk/sport/article-2123341/Clubs-like-Pompey-belong-fans-money-men-Patrick-Collins.html

 

Well done Mr Collins. He has managed to condense 60138 posts down into a concise and accurate single page article

[Stepgar]

Exactly what is the golden share that keeps being mentioned and why is it so important. Cheers

[trousers]

Interesting story in the Mail, actually says that the skates bought the FA Cup.

 

http://www.dailymail.co.uk/sport/article-2123341/Clubs-like-Pompey-belong-fans-money-men-Patrick-Collins.html

 

*like*

 

By PATRICK COLLINS

PUBLISHED: 22:32, 31 March 2012

 

Some time ago, when Portsmouth Football Club were in the throes of their last crisis but three, I spoke to one of their most besotted followers. He ran through a list of those who had played their parts in bringing down an institution; rogues and rascals, fakes and fantasists.

 

Then he said: "I sometimes wonder what we did to deserve them. It's not fair, you know. Pompey means so much to us and so little to them."

 

And he's right. We offer reflexive sympathy to financially straitened football clubs - poor Port Vale, shame about Rangers - but Portsmouth's plight has become almost too familiar.

 

Their recurring crises have acquired a pattern; debt, denial, admission, administration. Points and pride are abjectly surrendered and the administrator takes centre stage, while the latest owner leaves town.

 

In this case, he is the entrepreneur Vladimir Antonov, who has fallen foul of the Lithuanian financial authorities. One of his esteemed predecessors was Sulaiman Al-Fahim, who was approved by the Premier League but turned out to be around a billion pounds poorer than his publicity.

 

He lasted for 40 days before selling his shares to Ali Al-Faraj, who was similarly endorsed by the powers-that-be but was the man who, quite possibly, never was.

 

Having been so thoroughly deceived, we should not be surprised that the Premier League raised glad glasses when Portsmouth were relegated. They were, it seems, a financial basket case, a club who were terribly bad for the corporate image. And if this latest emergency should prove fatal, as well it might, then few tears would be shed by those who administer the English game.

 

And yet, that same English game was created and sustained by clubs like Portsmouth; clubs who inhabited run-down, lovable grounds like Fratton Park and attracted fans who had been snared at their first wide-eyed visit and had passed their hopelessly irrational faith down the generations.

 

They endured the bad times because they expected nothing better and they celebrated the good times with the slightly guilty air of those who suspected that the prizes had been purchased with questionable finance. But they stayed because it was their club, an integral part of their community, their city.

 

They may not have cared for the people who owned it and they surely entertained doubts about some of the outrageously rewarded mercenaries who treated the blue shirt like a marketing tool.

 

But still they kept the faith in the face of the looming evidence. Because that is what fans do, even when they know that rich men with disposable loyalties are sneering at their naivete.

 

Peter Storrie remembers those good days. He was Portsmouth's chief executive when the money taps were gushing, when the Premier League place was maintained and when the FA Cup was effectively bought. He was still in charge when those taps started to run dry, when new owners were sought.

 

The conditions were stringent: they had to have oceans of money and to be 'fit and proper' people. Storrie's selection record was not without blemish. Sulaiman sounded rich and talked a good game. In fact, he turned out to be a Skoda driver in a land of Maseratis. And if he seemed insubstantial, then Al-Faraj had no substance whatever.

 

Last week, in a revealing interview, Storrie conceded that the benefactor may not have existed. "I did all the checks you can do", he said. "Everything that came out with Sulaiman and Ali Al-Faraj, it all came out that they were multi-multi millionaires with lots and lots of money"

 

But did he know if Al-Faraj existed? "I'm told he does", he said. "I never dealt with him personally". He added: "I had eight of the most enjoyable years of my life at Portsmouth Football Club". Asked if he would consider returning, he said, a shade coyly: "My wife would say never in a hundred years. My heart tells me probably yes because I love the club."

 

Meanwhile, those who love the club without the hope of the rewards which Storrie once enjoyed are attempting to buy the place with their own money. The Pompey Supporters Trust are in talks with the administrator to see how overwhelming enthusiasm might be translated into a community purchase.

 

On Saturday they made a pre-share offer to encourage supporters to donate a minimum of £100. They are hoping that this will grow into a full-blown investment proposal which would culminate in fan ownership.

 

The administrator, Trevor Birch, welcomed the move in principle and added: "The fans have probably had their fill of people promising the earth and will be happy with a basic football club that is part of the community."

 

Which, in a sense, says it all. Hopelessly quixotic it may be, but who would not prefer a club owned by fans to one which is controlled by the ranks of the dubiously motivated operators who currently hold such sway?

 

I believe that our football clubs should ideally belong to those who love them most. The kind of people you find amid the shabbiness of Fratton Park; praying for the best, fearing the worst and hoping that Peter Storrie will listen to his wife. And keep his distance.

Edited 5 April, 2012 by trousers

[Gruffalo]

Exactly what is the golden share that keeps being mentioned and why is it so important. Cheers

It's effectively a licence which allows a club to participate in the FL / PL. Without it, it's non-league football only.

[Fowllyd]

Exactly what is the golden share that keeps being mentioned and why is it so important. Cheers

 

In essence, it's the right given by the Football League for a club to participate in the FL's competition(s). Without the golden share, a club is precisely nowhere. That's why it's important. I'd like to think it actually took some physical form (a golden football would be nice, especially an old-fashioned one with laces), but it's probably just a sheet of paper.

[Frank's cousin]

In essence, it's the right given by the Football League for a club to participate in the FL's competition(s). Without the golden share, a club is precisely nowhere. That's why it's important. I'd like to think it actually took some physical form (a golden football would be nice, especially an old-fashioned one with laces), but it's probably just a sheet of paper.

 

irponically to hold it you need to agree to the terms and conditions and importantly the rules laid down by the FL.... especially those regarding integrity of the competition and financial and points sanctions should you fail to adhere to them.....

 

Also need your ground to come up to minimum standards etc, which is why in the past non-league clubs have had to waiver their promotion rights because they did not borrow millions to upgrade knowing they had not guarrantees to meet repayments - the ill-informed and ignoarant skates will argue that our administration was because we built SMS and could not pay for it - the reality is that the repayment schedule was negotiated to be around 1.7 mill a season, which was affordable in prem, CCC and L1 - what screwed us was the problesm witha several player contracts entered into when our boardroom was not stable and we paid the price, points deductions and 2nd relegation despite doing everything w ecould the moment it was recognised as a problem.. oh and we always paid the taxman and suppliers etc...

 

Funnily enough, the Skates are right in that as fans they had no say, but they continue to enjoy the relative success their strange roguish ownership succession bought them - one of teh reasons why sympathy is so hard to find - yet had onthe pitch success been compromised through infrastructure investment when they had teh prem income, rather than record transfers and player wages, not only could it be argued that they would have more sympathy now, they would have been a darn sight more attractive as an investment... When they entered the premier league, they could have built a 25000 seater for around 50mil... now the cost will be inexcess of 100mil for 20k ... all that money, all that potential ****ed up the wall. No wonder Blackpool fans are relatively happy, they used their prem cash windfall to upgrade their stadium and build for the future and despite relegation are doing quite nicely thank you very much.... what is it about the mentality of their fans that the majority still say they would not give up their cup win for a more long term stable strategy?

[Highfield Saint]

OK, so through all the bluster we've got a bit sidetracked. How does PFC2010 Ltd (or whatever the **** they're called now) move forward?

 

http://www.hmrc.gov.uk/manuals/insmanual/ins3217.htm

 

5 ways to exit Admin:

 

1 - CVA or similar agreed with creditors

2 - Dissolution

3 - Creditors Voluntary Liquidation

4 - Compulsory Liquidation

5 - Return to Directors

 

Looking at each of these:

 

1 - A CVA would need to be agreed by HMRC and Baker Tilley. Unlikey to accept less than 100%. Chances of that? ......

 

Is this true? They would need both to vote in favour?

[Frank's cousin]

Is this true? They would need both to vote in favour?

 

Well they need 75% of the votes to be in favour of a new CVA - given that BT have in affect around 16 mil or estimated 40 mil of debt, HMRC around 3 mil and HMRC will have a big say in how BT votes then yes they both will nee dto be in favour - the issue will be deciding whether getting something is better than getting nothing - and despiet everyone believing HMRC will play hardball, we have seen elsewhere that when it comes to teh crunch they seem to accept 2p in the pound rraher than nothing....

 

... question is, how is the final debt calculated and are their 'new debts' that can mystically materialise to ensure the vote goes the 'right' way... last time, it was HMRC who had originally more than 25%... but as 'new debts' were 'discovered' this was eroded - in addition as ai understand, round 1 includes all secured creditors and football creditors as well....

[Truckasaurus]

I is not too bright, so lets not beat around the bush.

 

The bottom line is,unless lots and lots of money is thrown into the portsmuff "hole" they are liquidated in the summer time.

 

Anybody see it any different ?

 

God bless HMRC.

[Torres]

FC - I think I'm correct in saying that HMRC have never voted in favour of a football club CVA where they have been offered less than 100%.

[dubai_phil]

I is not too bright, so lets not beat around the bush.

 

The bottom line is,unless lots and lots of money is thrown into the portsmuff "hole" they are liquidated in the summer time.

 

Anybody see it any different ?

 

God bless HMRC.

 

What's Blue & Turns Red at the flick of a Switch?

 

PCFC in the Liquidatoriser

[Gingeletiss]

http://www.portsmouth.co.uk/sport/pompey/pompey-past/mps-will-call-on-government-body-to-boost-trust-bid-for-pompey-1-3701690?commentssort=1&commentspage=3

 

 

By Rory McKeown

Published on Thursday 5 April 2012 07:13

 

PORTSMOUTH MPs are to make a new approach to Sport England over funding to save Pompey.

 

Penny Mordaunt, Mike Hancock and Caroline Dinenage will send a letter to the government body seeking either a loan or a grant to boost the Pompey Supporters’ Trust’s takeover bid.

 

The decision was made at a meeting held by The News last night, just days after the trust launched its community share scheme.

 

The initiative invites fans to register their interest in a future share offer to buy the club by pledging an initial deposit of £100 before acquiring a share for £1,000.

 

MP for Portsmouth South Mr Hancock said MPs had previously sought financial help from Sport England to ease the club’s plight but are willing to return to support the trust’s bid.

 

He said at the meeting: ‘We are asking for a bridging loan or a grant. I’m not sure Sport England is in a position to give a grant for a business but a community trust might be something it considers.’

 

Ms Mordaunt, MP for Portsmouth North, said she will contact the cabinet office to gauge support using a ‘big society’ approach.

 

Portsmouth City Council leader Gerald Vernon-Jackson said: ‘If this is going to be the way which football has to evolve then it has to start somewhere and Sport England should be looking at using this as a good example but it will be down to ministerial direction.’

 

The letter will ask Sport England to meet the MPs on April 16.

 

The supporters’ trust was represented by Mick Williams, Mark Trapani and Dan Fearnley.

 

With politicians, they discussed idea of bidding for a slice of the £12m Growing Places fund through the Solent Local Enterprise Partnership to help their cause.

 

It’s used to fund the creation of new jobs and homes in the region, and is awarded on a loans basis, which is held accountable for by a public sector organisation.

 

Mr Williams added administrator Trevor Birch believes the club’s money runs out between the middle and the end of May.

 

He said interest in the takeover scheme had been encouraging, and stressed fans would only lose out on £2.50 – due to a 2.5 per cent handling fee – if the scheme fails.

 

Trust spokesman Scott Mclachlan earlier confirmed hundreds of people had pledged their support for the scheme so far.

 

 

Dear oh dear oh dear!!!!!

Edited 5 April, 2012 by Gingeletiss

[hutch]

Well they need 75% of the votes to be in favour of a new CVA - given that BT have in affect around 16 mil or estimated 40 mil of debt, HMRC around 3 mil and HMRC will have a big say in how BT votes then yes they both will nee dto be in favour - the issue will be deciding whether getting something is better than getting nothing - and despiet everyone believing HMRC will play hardball, we have seen elsewhere that when it comes to teh crunch they seem to accept 2p in the pound rraher than nothing....

 

... question is, how is the final debt calculated and are their 'new debts' that can mystically materialise to ensure the vote goes the 'right' way... last time, it was HMRC who had originally more than 25%... but as 'new debts' were 'discovered' this was eroded - in addition as ai understand, round 1 includes all secured creditors and football creditors as well....

I think only unsecured creditors get to vote in a CVA. Chainrai is secured, as far as we know. CSI might be secured as well.

[trousers]

http://www.portsmouth.co.uk/sport/pompey/pompey-past/mps-will-call-on-government-body-to-boost-trust-bid-for-pompey-1-3701690?commentssort=1&commentspage=3

 

 

By Rory McKeown

Published on Thursday 5 April 2012 07:13

 

PORTSMOUTH MPs are to make a new approach to Sport England over funding to save Pompey.

 

Penny Mordaunt, Mike Hancock and Caroline Dinenage will send a letter to the government body seeking either a loan or a grant to boost the Pompey Supporters’ Trust’s takeover bid.

 

The decision was made at a meeting held by The News last night, just days after the trust launched its community share scheme.

 

The initiative invites fans to register their interest in a future share offer to buy the club by pledging an initial deposit of £100 before acquiring a share for £1,000.

 

MP for Portsmouth South Mr Hancock said MPs had previously sought financial help from Sport England to ease the club’s plight but are willing to return to support the trust’s bid.

 

He said at the meeting: ‘We are asking for a bridging loan or a grant. I’m not sure Sport England is in a position to give a grant for a business but a community trust might be something it considers.’

 

Ms Mordaunt, MP for Portsmouth North, said she will contact the cabinet office to gauge support using a ‘big society’ approach.

 

Portsmouth City Council leader Gerald Vernon-Jackson said: ‘If this is going to be the way which football has to evolve then it has to start somewhere and Sport England should be looking at using this as a good example but it will be down to ministerial direction.’

 

The letter will ask Sport England to meet the MPs on April 16.

 

The supporters’ trust was represented by Mick Williams, Mark Trapani and Dan Fearnley.

 

With politicians, they discussed idea of bidding for a slice of the £12m Growing Places fund through the Solent Local Enterprise Partnership to help their cause.

 

It’s used to fund the creation of new jobs and homes in the region, and is awarded on a loans basis, which is held accountable for by a public sector organisation.

 

Mr Williams added administrator Trevor Birch believes the club’s money runs out between the middle and the end of May.

 

He said interest in the takeover scheme had been encouraging, and stressed fans would only lose out on £2.50 – due to a 2.5 per cent handling fee – if the scheme fails.

 

Trust spokesman Scott Mclachlan earlier confirmed hundreds of people had pledged their support for the scheme so far.

 

 

Dear oh dear oh dear!!!!!

 

You truely could not make any of this up!!

 

It really is time to give up expecting to see anything sensible come out of this saga....

 

[Sheaf Saint]

http://www.portsmouth.co.uk/sport/pompey/pompey-past/mps-will-call-on-government-body-to-boost-trust-bid-for-pompey-1-3701690?commentssort=1&commentspage=3

 

 

By Rory McKeown

Published on Thursday 5 April 2012 07:13

 

PORTSMOUTH MPs are to make a new approach to Sport England over funding to save Pompey.

 

Penny Mordaunt, Mike Hancock and Caroline Dinenage will send a letter to the government body seeking either a loan or a grant to boost the Pompey Supporters’ Trust’s takeover bid.

 

The decision was made at a meeting held by The News last night, just days after the trust launched its community share scheme.

 

The initiative invites fans to register their interest in a future share offer to buy the club by pledging an initial deposit of £100 before acquiring a share for £1,000.

 

MP for Portsmouth South Mr Hancock said MPs had previously sought financial help from Sport England to ease the club’s plight but are willing to return to support the trust’s bid.

 

He said at the meeting: ‘We are asking for a bridging loan or a grant. I’m not sure Sport England is in a position to give a grant for a business but a community trust might be something it considers.’

 

Ms Mordaunt, MP for Portsmouth North, said she will contact the cabinet office to gauge support using a ‘big society’ approach.

 

Portsmouth City Council leader Gerald Vernon-Jackson said: ‘If this is going to be the way which football has to evolve then it has to start somewhere and Sport England should be looking at using this as a good example but it will be down to ministerial direction.’

 

The letter will ask Sport England to meet the MPs on April 16.

 

The supporters’ trust was represented by Mick Williams, Mark Trapani and Dan Fearnley.

 

With politicians, they discussed idea of bidding for a slice of the £12m Growing Places fund through the Solent Local Enterprise Partnership to help their cause.

 

It’s used to fund the creation of new jobs and homes in the region, and is awarded on a loans basis, which is held accountable for by a public sector organisation.

 

Mr Williams added administrator Trevor Birch believes the club’s money runs out between the middle and the end of May.

 

He said interest in the takeover scheme had been encouraging, and stressed fans would only lose out on £2.50 – due to a 2.5 per cent handling fee – if the scheme fails.

 

Trust spokesman Scott Mclachlan earlier confirmed hundreds of people had pledged their support for the scheme so far.

 

 

Dear oh dear oh dear!!!!!

 

Right, so Pompey have screwed the government out of £millions in public revenue due to their decision not to bother paying their tax and NI bill, and now they expect the government to bail them out with further funds from the public revenue.

 

Have these morons no shame?

[dubai_phil]

You truely could not make any of this up!!

 

It really is time to give up expecting to see anything sensible come out of this saga....

 

 

What brilliant strategic and lateral thinking.

 

Of course. I wonder why no other Football Club in England since the beginning of The Lottery could not have come up with the amazing idea of seeking "Lottery or Related Funding"

 

I'm sure the not anywhere near being the bestest fans of Port Vale & Rangers will be overjoyed that they have come up with such an innovative idea to help them out as well

[trousers]

Right, so Pompey have screwed the government out of £millions in public revenue due to their decision not to bother paying their tax and NI bill, and now they expect the government to bail them out with further funds from the public revenue.

 

Have these morons no shame?

 

I believe "Sport England" is 100% funded by the National Lottery....so, basically, they are now looking to run the club on the proceeds of gambling.....no change there then.....!

[holepuncture]

I think only unsecured creditors get to vote in a CVA. Chainrai is secured, as far as we know. CSI might be secured as well.

 

Yes and this is the beauty of the good man Chainrais security, the fixed charge over all the assets of the club.

 

He does not have a vote in the CVA as his debt has to be repaid in full.

 

I still have a debenture over the club as security on the club’s full assets, so one way or another I’m going to get my money back.

 

But I don’t want to see the club liquidated. Anything I can do to help Portsmouth I will.

 

Thats a gentlemenly threat by the loan shark, one way or another...

 

Pompey trust can buy the golden share and club badge for £8m, but like when CSI took over Chinny will still hold the keys to the arena. They can pay him back on a high interest mortgage whilst they continue to pay Gadymack £6k PW for his car park which landlocks the club.

 

 

 

 

Not sure on CSI, I suspect they might be unsecured. £10.8m could give them a pretty good voting %, however I think CVA1 + HMRC will cover more than 25% SHALALA - COYHMRC

[Viking Warrior]

I feel sorry for the blue few and have been touched by their poverty stricken woes.

 

So much so Im going to donate this weeks toe nail clipping to them , its not much but it is something

 

ahhh the poor wee souls

 

It’s used to fund the creation of new jobs and homes in the region, and is awarded on a loans basis, which is held accountable for by a public sector organisation.

 

Is the HMRC a Public sector organisation. They defaulted on those payments so they are bound to default on any Sport England Loan

 

Maybe they should try wonga .com

[trousers]

I can't wait for Rallyboy to get his literary teeth into the Sport England story...

[Sour Mash]

Why is anyone relying on the HMRC to do anything effective on this? They've been pretty useless for the last three years.

[Durleyfos]

Is that the bottom of the barrel I hear being scraped?

[trousers]

Why is anyone relying on the HMRC to do anything effective on this? They've been pretty useless for the last three years.

 

If only we knew of an MP who has access to internal HMRC emails...

Edited 5 April, 2012 by trousers

[holepuncture]

http://www.portsmouth.co.uk/sport/pompey/pompey-past/grant-calls-on-his-old-club-to-find-the-spirit-of-2010-1-3700972

 

Avrams getting romantic again...

[Whitey Grandad]

Unbelievable. Haven't they had enough public subsidy already? So far it equates to about £1 for each and every taxpayer.

[brightspark]

Avram Grant lists beating us at SMS one of the best moments of his career.

 

OR

 

Avram Grant lists beating a League One team with a fantasy football squad plucked from here there and everywhere as one of the best moments of his career.

 

I hope we smash them on the weekend for many a reason, but to imagine Avram's face when he logs on to his computer to find out the result will be another.

 

[Under Weststand]

You just couldn't make this up could you?

So they think this is something that Sport England would seriously want to get involved in.

Do it for one they'd be inundated with clubs asking for a hand out.

The poopey trust would be better off using the money pledged so far on this Fridays Euro millions jackpot.

[Weston Saint]

Football is a lottery.....let’s get funding from the Sports Council, that is funded by the lottery

 

Hang on though....funding is for the amateur sport is it not? Not for businesses

 

Not a problem....Pompey Management have been acting like a bunch of amateurs for years

 

Problem solved

[dubai_phil]

Football is a lottery.....let’s get funding from the Sports Council, that is funded by the lottery

 

Hang on though....funding is for the amateur sport is it not? Not for businesses

 

Not a problem....Pompey Management have been acting like a bunch of amateurs for years

 

Problem solved

 

And, if they get enough Points Deductions & Liquidations they could be playing Amateur Football.

 

Hmm perhaps that is their best bet for a sustainable fans led recovery. Start out in the Tyro League

[Pugwash]

Sport England has just cut its Tennis and Judo budgets. Now the publicity-seeking MPs down that way want them to toss in money to maintain a corrupt and expensive operation that will trade at a massive loss for at least another year, if it survives at all.

 

I thought SE was about supporting and encouraging grass-roots sport, not propping up failed businesses. So perhaps they should support the Plan B?

 

Comments to: funding@sportengland.org

[Sevvy]

And, if they get enough Points Deductions & Liquidations they could be playing Amateur Football.

 

Hmm perhaps that is their best bet for a sustainable fans led recovery. Start out in the Tyro League

 

Kanu is too old,

[Truckasaurus]

Everything about this rotten club,stinks.

 

If i was a portsmuff fan i don't think i could walk around in public. To any of you that read this, for f**ks sake go to 'plan B' and start from scratch.

 

God bless HMRC.

[Whitey Grandad]

Sport England has just cut its Tennis and Judo budgets. Now the publicity-seeking MPs down that way want them to toss in money to maintain a corrupt and expensive operation that will trade at a massive loss for at least another year, if it survives at all.

 

I thought SE was about supporting and encouraging grass-roots sport, not propping up failed businesses. So perhaps they should support the Plan B?

 

Comments to: funding@sportengland.org

 

They were only asking for a loan. I wonder if they have any intention of paying it back.

[Joensuu]

Can I just point out as an example of the amount of funding Sport England provide, their total awarded to all projects in Southampton over the last 5 years was c. £660k.

 

That's what, c. 3 months of Ta Ben Heim's wages?

[rallyboy]

if Avram Grant was as good at managing football clubs as he is at ****ing whores he'd have a few Champion's League titles to his dirty name.

 

As for the sad old spin -

The ex-Blues boss refused to walk away from the club as it went through administration and relegation from the Premier League, while taking them to the FA Cup final that term against the odds.

 

Or to put it another way, the seedy old pervert continued to selfishly rip his wages out of the bankrupt club while overseeing a record-breaking failure for the Premier League which culminated in him dragging the club out of the bigtime and away from the only lifeline they had, while also cobbling together a criminally-funded cup run that ended in hilarious failure.

 

His coaching record makes Tony Adams look like Shankly, his personal life tells you so much about his lovely 'spirit'.

And as for not walking away??

He was out of there quicker than Antonov would be if a moped backfired in a dark alley.

 

We saw him....gripping a microphone in the style of a Latvian prossie, out on the pitch spouting sh1t to deluded simpletons, and they lapped it up!

They can never break our spirit!!..

Does that mean we're staying up?

They will never break us!!...

Are we staying up...

We will stay strong!!...

Are we safe?...

 

Er no, I've just got us relegated and we are so insolvent the club is ****ed for a generation, I'm off to West Ham now to announce that they have the best fans in the world...bye!

 

Yeah, they didn't have an academy but every transfer window you'd catch gobby Avram splashing out on youth, and as for the cup, he liked nothing better than watching a tense semi on a big TV...

 

He was as loyal as the heroic boys of January 2012 - bless em, those battling troops who stood by UnAppy in his hour of need.

If you boys don't leave the club will go under....**** that, I want my wages.

Mmmm, real loyalty that, well done to those guys who pushed the club to todays shameful begging from the government.

 

Why don't they just go the whole hog and steal some more from the local charities.

The fans have been shafted and are now being invited to borrow money to pay Ben Haim, the taxman has been penetrated and is now being asked to cough up some compensation, why not get down to the cancer charities and take their furniture?

 

There must be some kids in wheelchairs who don't need their shoes, take them, sell them, and Kitson can buy himself some more shiny comfort-tat through the summer.

 

They are beyond a fricking joke, even the politicians are counting down the days to the elections so they can drop them like a stone.

 

 

I want to see them destroyed at St Marys - for so many reasons.

 

not long now, Judgement Day is nearly here......

[suewhistle]

They were only asking for a loan. I wonder if they have any intention of paying it back.

 

Now you're just being silly...

[trousers]

BBC News (UK)

‏ @BBCNews#Rangers' administrators estimate the Glasgow football club's total debts could top £134m http://bbc.in/I5Y1ha

 

Duff and Phelps say Rangers estimated debt tops £134m

 

Rangers' administrators estimate that the club's total debts could top £134m.

 

The figure is revealed in the administrator's report to creditors published on the club's website.

 

A total of more than £93m is being claimed by HM Revenue and Customs, relating to the so-called big and small tax cases, and unpaid VAT and PAYE.

 

The report also reveals Rangers owe cash to other football clubs including Celtic, Hearts, Dundee United, Manchester City and Arsenal.

 

Quick....someone give Rangers a bell to say we know someone who can reduce £134m of debt down to, say, £8m....at the drop of a hat....

Edited 5 April, 2012 by trousers

[Truckasaurus]

Reading between the lines,if miss money penny is asking sport England for some cash then she knows they are f***ed.

 

No rich new owners.

 

portsmuff trust thingy is akin to putting jump leads on Ayrton Senna's William's F1 car (after the crash)

 

TOAST. They really are no more come the summer time. What a beautiful summer it is going to be.

 

P.S. My mate has a top job at Tescos and he says you can't build a supermarket on a brown field site

 

God bless HMRC

[itchen]

Reading between the lines,if miss money penny is asking sport England for some cash then she knows they are f***ed.

 

No rich new owners.

 

portsmuff trust thingy is akin to putting jump leads on Ayrton Senna's William's F1 car (after the crash)

 

TOAST. They really are no more come the summer time. What a beautiful summer it is going to be.

 

P.S. My mate has a top job at Tescos and he says you can't build a supermarket on a brown field site

 

God bless HMRC

 

In what way "top job"? Have you seen the new Sainsbury's on the old Portswood bus garage site?

 

Anyway, back to the saga...

[Sevvy]

In what way "top job"? Have you seen the new Sainsbury's on the old Portswood bus garage site?

 

Anyway, back to the saga...

 

 

I think he meant all the **** on the pitch

[dubai_phil]

In other news.

 

I see a proper football club is launching a fans buy out - Blackburn. (Now THEY could teach the skates a thing or two about overspending but NOT going bust)

 

That'll starve the PST of the Oxygen of publicity outside their own Camp Sites

[Block 18]

I think he meant all the **** on the pitch

 

And the bestest fans

[Dark Munster]

BBC News (UK)

‏ @BBCNews

#Rangers' administrators estimate the Glasgow football club's total debts could top £134m http://bbc.in/I5Y1ha

 

 

 

Quick....someone give Rangers a bell to say we know someone who can reduce £134m of debt down to, say, £8m....at the drop of a hat....

 

You wouldn't be talking about a certain android, by any chance?

 

HMCR are claiming £93 million. So he'd first inflate the debt to £372 million plus 1p, to ensure HMCR get screwed out of blocking a 20p in the pound CVA, riddled with loopholes so that it is payable over umpteen years (or never, which ever comes later).

 

Then he'll reduce the debt to single digits.

[Sevvy]

I cant believe nothing has happened for 14 hours,come Phil, Trousers where are you.

[St Chalet]

I cant believe nothing has happened for 14 hours,come Phil, Trousers where are you.

 

For 24 hours I think we will ignore the stench and concentrate on putting them down on the pitch. A sort of sporting pre-liquidation party.

[rallyboy]

It's quiet because we're all saving up our vitriol for tomorrow, there's only so much hatred you can generate in one 24 hour period, don't want to waste any!

It would be like invading France but running out of ammo before you left Dover.

 

 

If I'd been too busy on here today I might have discovered that I'd got nothing offensive left to shout when I really needed it.

 

Not sure what Phil's excuse is, unless he intends to be really shouty with a chicken, stir fry veg and some exotic cider between his meetings tomorrow.

[Dark Munster]

Wow, talk about the calm before the storm ....

[dubai_phil]

I cant believe nothing has happened for 14 hours,come Phil, Trousers where are you.

 

Brunch with leeds fans (Buffet Lunch + 5 pints for AED 100 so for us half price). Nice bit of Roast Lamb as well. Watched the 1st 20 min of the Rdg game and left with a few handshakes and choruses of give the cheating ctuns a tonking on behalf of real football clubs tomorrow.

 

From then on, things are a tad blurry. Judging from my ramble on the build up thread perhaps a good job I couldn't find a link to here last night, although I do have some very blurred pics on my fone, think at one point I may have thought I could log on by taking a picture. I have NO idea....

 

Today though, this thread is not needed. 28/29,000 other people will be letting the DFCSB's know what the world thinks of them, not to mention many thousands by the side of the streets as their convoy of shame passes through the City.

 

It may not be on TV in the UK but many parts of the World will also see and hear you all at first hand. Sing loud and sing proud guys.

 

Oh and that whole Project Scum break thing - look what happens to so called aggressive fish

 

[Truckasaurus]

It's getting exciting isn't it ?

 

Because portsmuff are on the brink,does anyone think they will try and behave like the idiots they are to disrupt the game?

 

Gonna be fun today.

 

God bless HMRC.

[eurosaint]

Today's the day......................

Bring it on..............

:):)