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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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rallyboy

rallyboy

Posted
Posted

it's getting a bit desperate when you start going through bins looking for scrap to sell.

They should weigh in Varney, he must be worth a tenner a ton for medical research into apathy or lack of eye and foot co-ordination.

 

This morning I'm off to a distant football ground next to a river.

By the time I return to the beautiful south I suspect pompey may be a former championship club.

 

If I miss that moment on here, fear not, I'll be enjoying it on a bracing northern waterfront.

 

The only thing I would ask is that we don't have a mad claim by the toyman or a News webchat while I'm offline.

I don't want to plough through 30 pages on Sunday. :)

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pedg

pedg

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Crazy idea/wishful thinking time..........

 

Surely, all income ceases after their final home match (this Saturday) so to keep the club running for another week or three is a waste of funds and depriving creditors of money. Therefore, they should liquidate on Monday morning (or sooner) or the administrators should be forced to reimburse the creditors to the tune of all monies spent after Saturday evening.

 

I mean, honestly, why should they keep on paying out when liquidation is virtually a given within a month anyway?

 

I believe TB said they will get something like 800k from the league if they complete their fixtures. If once they get that there is no sign of a realistic takeover then yes liquidation is a definite possibility. I guess the question is how 'last minute' can a take over be? If they have a definite date (i.e. the FL meeting) where something must be in place are their definite dates before then by which an agreement has to have reached certain stages or can they be saved by someone running up minutes before the meeting waving a tenner?

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OldNick

OldNick

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I believe TB said they will get something like 800k from the league if they complete their fixtures. If once they get that there is no sign of a realistic takeover then yes liquidation is a definite possibility. I guess the question is how 'last minute' can a take over be? If they have a definite date (i.e. the FL meeting) where something must be in place are their definite dates before then by which an agreement has to have reached certain stages or can they be saved by someone running up minutes before the meeting waving a tenner?
was that not a payment of 800k that was released in 4 200k payments that they have already received ,or is that an extra 9800k. it gets quite confusing.

I would love to see Sullivan and Golds faces (if they are in the Play -offs)as they look at the accounts and see the loan money to PFC. A desperate attempt to keep them alive.

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FarehamRed

FarehamRed

Posted
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By the time I return to the beautiful south I suspect pompey may be a former championship club.

 

This goes with their fantastic history:

Former Premiership Club...

Former Championship Club...

Former Football League Club???

 

I'm off this afternoon to the same place...looking forway to a double celebration Saturday night!

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Minsk

Minsk

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Posted
I believe TB said they will get something like 800k from the league if they complete their fixtures. If once they get that there is no sign of a realistic takeover then yes liquidation is a definite possibility. I guess the question is how 'last minute' can a take over be? If they have a definite date (i.e. the FL meeting) where something must be in place are their definite dates before then by which an agreement has to have reached certain stages or can they be saved by someone running up minutes before the meeting waving a tenner?

 

I'm sure that 800k was 200k per month, from January - so they will have already been paid it. Therefore, they should fold immediately after taking their last confirmed payment (the match by match payments from season ticket money). To keep paying out wages, travel expenses, etc, after that point is depriving creditors of 'contributions' in my eyes.

 

Most certainly, if I were a creditor I would be writing to Birch to ask how he could justify further expenses with zero income expected.

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pedg

pedg

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Posted
I'm sure that 800k was 200k per month, from January - so they will have already been paid it. Therefore, they should fold immediately after taking their last confirmed payment (the match by match payments from season ticket money). To keep paying out wages, travel expenses, etc, after that point is depriving creditors of 'contributions' in my eyes.

 

Most certainly, if I were a creditor I would be writing to Birch to ask how he could justify further expenses with zero income expected.

 

I am sure you are right. Just remembering seeing a quote from birch that could have been read as a lump sum at the end but it was probably his way of phrasing it.

 

Would not be surprised if there is not some clause the contract with west ham that says they have to pay back the money if they don't finish the season.

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Minsk

Minsk

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Posted
I am sure you are right. Just remembering seeing a quote from birch that could have been read as a lump sum at the end but it was probably his way of phrasing it.

 

Would not be surprised if there is not some clause the contract with west ham that says they have to pay back the money if they don't finish the season.

 

It would certainly be funny if they did fold with one match to go, after taking in all that loan money.

 

I would love to see the quotes from Upton Park; 'but we paid them to finish the season, so that we kept our points.........' or then again, maybe they wouldnt actually admit to it.

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pedg

pedg

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It would certainly be funny if they did fold with one match to go, after taking in all that loan money.

 

I would love to see the quotes from Upton Park; 'but we paid them to finish the season, so that we kept our points.........' or then again, maybe they wouldnt actually admit to it.

 

Actually one interesting question. Assuming we do win tomorrow would the disappearance with one game to go of all the points won off pompey by other teams make any difference to who is relegated or in the play offs?

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Whitey Grandad

Whitey Grandad

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It would certainly be funny if they did fold with one match to go, after taking in all that loan money.

 

I would love to see the quotes from Upton Park; 'but we paid them to finish the season, so that we kept our points.........' or then again, maybe they wouldnt actually admit to it.

 

If West Ham do end up in the playoffs, will they extend the loan of Henderson?

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pedg

pedg

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If West Ham do end up in the playoffs, will they extend the loan of Henderson?

 

The understand is, I think, that they have agreed to (and one assumes already paid at least some of the price) buy him at the end of this season so one would assume he would stay with the Hammers.

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Truckasaurus

Truckasaurus

Posted
Posted

When the season is done so are portsmuff.

 

Why would they continue to pay someone £36,000 per week with no money coming in?

 

That is ONE player.

 

There are loads of others earning millions of pounds every year.

 

Unless someone with loads and loads of dosh buys them in the next few weeks.......TOAST

 

I've been saying this for ages. ;)

 

God bless HMRC

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pedg

pedg

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This one will be interesting. Why pay for him if you might get him for nothing?

 

Theory is that they have already paid a considerable amount for him and that that money would help pompey see out the season and maintain the 6 points they got of pompey is entirely coincidental.

 

I don't think there is any reliable publicly information available to say how much pompey have received as an 'advance' for his purchase and how much would be owed once the window opens again and he can be legally transferred.

 

The really funny bit is that we could end up with the situation where the hammers not only did not need to buy him to save the points but also if he is still contracted to pompey when they are liquidated then he could well be a free agent anyway?

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holepuncture

holepuncture

Posted
Posted
Just under 15k sold so far according to Neil Allen.

 

Fortress Fratton will be full to the rafters once again as Pack the Park comes to fruition at the last home game of this season and most likely forever.

 

They will have an average attendence in League 1, if the PST manage to raise £30 odd million for the privilege of losing at least £14m in your first trading year.

 

And we wonder why no one wants to buy us :facepalm:

 

It is an issue skates, but right now it is the least of your problems... tick follows tock follows...

 

Anyone else taking their seat home after the game tomorrow?

 

The good man Chainrai wont be best pleased if you were to do that... dont want to fall on the ugly side of a viscous loan shark. Chainrai has a fixed and floating charge on all assets of PFC, so the seat belongs to him.

 

Good bless Balram Chainrai

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pedg

pedg

Posted
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The good man Chainrai wont be best pleased if you were to do that... dont want to fall on the ugly side of a viscous loan shark. Chainrai has a fixed and floating charge on all assets of PFC, so the seat belongs to him.

 

Think they have missed an opportunity there really. Should be charging them a fiver to allow them to take there own seat. After all it brings in more money and reduces the load on the lorries that will be leaving the site when it is cleared.

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Crazy Diamond

Crazy Diamond

Posted
Posted

The incredibly overrated Jason Pearce is off to Leeds

 

http://www1.skysports.com/football/news/11095/7687929/

 

"Sky Sports understands Leeds United are closing in on a deal to make Portsmouth defender Jason Pearce their first signing of the summer.

 

Pearce has impressed at Portsmouth since arriving from Bournemouth in the summer and he has established himself as a key member of the side, making 43 appearances in all competitions this term.

 

Cash-strapped Pompey are resigned to losing a number of top players to ease their on-going financial problems and Pearce could be one of the first to depart Fratton Park once the season draws to a close.

 

A number of clubs, including Ipswich have shown an interest in Pearce, but Leeds are hoping to steal a march on their rivals by luring him to Elland Road.

 

Leeds boss Neil Warnock has made defensive recruits his main priority in this summer's transfer window as he looks to shore up their leaky rearguard.

 

Warnock revealed earlier this month he was confident of agreeing a deal with a mystery player and it is thought Pearce is the man in question."

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Minsk

Minsk

Posted
Posted
When the season is done so are portsmuff.

 

Why would they continue to pay someone £36,000 per week with no money coming in?

 

That is ONE player.

 

There are loads of others earning millions of pounds every year.

 

Unless someone with loads and loads of dosh buys them in the next few weeks.......TOAST

 

I've been saying this for ages. ;)

 

God bless HMRC

 

I agree, and my point is why wait an extra week until after an AWAY game and all the additional expense that incurs?

 

Surely it is more financially beneficial to liquidate immediately after Saturday's match.

 

They could have relegation and liquidation on the same day.

 

Added to our promotion, that is 3 bottles of bubbly!!!!!!!!!!

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Lazlo78

Lazlo78

Posted
Posted
The incredibly overrated Jason Pearce is off to Leeds

 

http://www1.skysports.com/football/news/11095/7687929/

 

"Sky Sports understands Leeds United are closing in on a deal to make Portsmouth defender Jason Pearce their first signing of the summer.

 

Pearce has impressed at Portsmouth since arriving from Bournemouth in the summer and he has established himself as a key member of the side, making 43 appearances in all competitions this term.

 

Cash-strapped Pompey are resigned to losing a number of top players to ease their on-going financial problems and Pearce could be one of the first to depart Fratton Park once the season draws to a close.

 

A number of clubs, including Ipswich have shown an interest in Pearce, but Leeds are hoping to steal a march on their rivals by luring him to Elland Road.

 

Leeds boss Neil Warnock has made defensive recruits his main priority in this summer's transfer window as he looks to shore up their leaky rearguard.

 

Warnock revealed earlier this month he was confident of agreeing a deal with a mystery player and it is thought Pearce is the man in question."

 

Apparently they'll ship O'Dea back to Celtic, so it makes sense to go for Pearce instead.

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saint si

saint si

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Posted
I agree, and my point is why wait an extra week until after an AWAY game and all the additional expense that incurs?

 

Surely it is more financially beneficial to liquidate immediately after Saturday's match.

 

They could have relegation and liquidation on the same day.

 

Added to our promotion, that is 3 bottles of bubbly!!!!!!!!!!

 

Is there prize money in the NPC awarded for finishing position?

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Crazy Diamond

Crazy Diamond

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Posted
Apparently they'll ship O'Dea back to Celtic, so it makes sense to go for Pearce instead.

 

Not sure it does. O'Dea isn't the best, hence why he's being loaned out by Celtic, Pearce as I say is really overrated. REALLY overrated. He's English and helped to keep a few clean sheets at Bournemouth - suddenly he's amazing. It ain't so.

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Saint_John

Saint_John

Posted
Posted
Is there prize money in the NPC awarded for finishing position?

 

I believe there are 2 sets of Prize money (a) average of £2.4M per Championship Club and (b) either the Parachute payments or the average/fixed of Solarity payments £2.2M.

Here are 2 articles from that time which give details of the Prize money.

 

When the rules were proposed in April 2010 the Torygraph said

Parachute payments

£48m over four years for clubs relegated from the Premier League. Clubs would receive £16m in each of the first two years, and £8m in each of the following two.

Championship

Clubs not receiving parachute payments would get £2.2m a year, a total of £46m a year.

League One

Each club would receive £325,000 a year, £7.8m in total .

League Two

Each club would receive £250,000, or £6m in total.

 

.....

Solidarity payments would also increase in all three divisions. Every Championship club not in receipt of parachute payments would get £2.2 million per season, three times the £830,000 each club received this year.

The payment would almost match the average annual payment to Championship clubs from the Football League of £2.4 million, taking the total guaranteed income to £4.6 million.

http://www.telegraph.co.uk/sport/football/competitions/premier-league/7641526/Football-League-clubs-at-odds-with-each-other-over-Premier-League-payment-plan.html

 

However, when the Football League past the rules "Ciderspace" (Yeovil supporter ?) said :-

* Clubs relegated from the Premier League to get Parachute Payments over a four year period rather than over the current two. Clubs will receive £16m (Year One), £16m (Year Two), £8m (Year Three) and £8m (Year Four) totalling £48m over the four years - up from the current £22.4m across two years.

 

* Championship Clubs are to receive an average of £2.2m per club, up from £830,000 per club. Payments are staggered depending upon the previous season's league position.

 

* League One Clubs are to receive £325,000, up from £108,000. This is flat rate for clubs who were in League One for the previous season.

 

* League Two Clubs are to receive £250,000, up from £72,000. This is flat rate for clubs who were in League Two for the previous season.

http://www.ciderspace.co.uk/asp/news/news.asp?NewsItemId=12427

 

 

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pedg

pedg

Posted
Posted
I believe there are 2 sets of Prize money (a) average of £2.4M per Championship Club and (b) either the Parachute payments or the average/fixed of Solarity payments £2.2M.

Here are 2 articles from that time which give details of the Prize money.

 

When the rules were proposed in April 2010 the Torygraph said

 

http://www.telegraph.co.uk/sport/football/competitions/premier-league/7641526/Football-League-clubs-at-odds-with-each-other-over-Premier-League-payment-plan.html

 

However, when the Football League past the rules "Ciderspace" (Yeovil supporter ?) said :-

 

http://www.ciderspace.co.uk/asp/news/news.asp?NewsItemId=12427

 

 

 

Well they will not be getting the solidarity part as they are still getting parachute payments. Is the prize money different to the 200,000 a month as 12 x 200,000 = 2.4 million?

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OldNick

OldNick

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Posted
Theory is that they have already paid a considerable amount for him and that that money would help pompey see out the season and maintain the 6 points they got of pompey is entirely coincidental.

 

I don't think there is any reliable publicly information available to say how much pompey have received as an 'advance' for his purchase and how much would be owed once the window opens again and he can be legally transferred.

 

The really funny bit is that we could end up with the situation where the hammers not only did not need to buy him to save the points but also if he is still contracted to pompey when they are liquidated then he could well be a free agent anyway?

I thnk TB statement a week or so ago mentioned loan fees in, i cant recall how much but it was in the region of 400k the lot.
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pedg

pedg

Posted
Posted

Well I hope pompey have enough money for some paint and brushes so they can make some signs saying "Do not rip up your seat or trash the stadium"

 

http://www.portsmouth.co.uk/news/law-and-order/fan-blames-a-lack-of-signs-at-fratton-for-pitch-invasion-1-3760569

 

A TEENAGE fan who ran on to the pitch during a Pompey match told a court there should have been signs saying it wasn’t allowed.
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spyinthesky

spyinthesky

Posted
Posted

One of these 'what if' questions.

 

What if England had won the bid for the next but one World Cup?

 

Weren't Pompey in the running to host some games?

 

Would the city and club have wasted money on preparing for the games or would this, in fact, have been a catalyst for their future development?

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Gorgiesaint

Gorgiesaint

Posted
Posted
One of these 'what if' questions.

 

What if England had won the bid for the next but one World Cup?

 

Weren't Pompey in the running to host some games?

 

Would the city and club have wasted money on preparing for the games or would this, in fact, have been a catalyst for their future development?

 

I think they withdrew their bid (or it failed). Plymouth & Bristol were going to be the 'South West' venues.

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Frank's cousin

Frank's cousin

Posted
Posted
So it's D-day for the DFCSBs.

 

Come on Bristol City. Depends if they can handle the pressure, on paper a simple win but who knows. Any slip and IMO the skates will stay up. Makes little difference of course, but it'd be another slap in the face for football, seeing a side they once again can't afford finish above sides trying to honestly keep going and play to the rules.

 

I feel sorry for City and Coventry. And Doncaster I guess. All three lost their best player, their goalscorer and needed the money. All three see their squads decline in ability and don't moan, don't cry that it's uncompetitive, they just make the best of it. Coventry are gone, but they made a decent attempt given their resources. City have been on a good run and deserve to stay up.

 

Any of those 3, and several sides above, quite simply would have had infinitely easier seasons if they'd been allowed to bring in 20k per week players, not pay them, ignore creditors, get loans in when bankrupt. Absolutely disgusting and the only downside to what's been an enjoyable two or three years of football for us.

 

Time to go Pompey, and time for football to learn its lessons and move on from this sickening, tedious crap. Bye bye Pompey, Pompey bye bye.

 

This - top summary of every reason why this thread has gone on so long... The Skates may complain that we would say that given the rivalry, but although I would still be quite happy to see portsmuff relegated at any time, I would still have the normal sympathy of any football fan if they were in a same boat as Coventry et al...

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