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Pompey Takeover Saga


Fitzhugh Fella

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Can't someone over in the UK apply to get that Neil Allen sectioned under some mental health act?

 

Lets face it there is plenty of evidence to suggest he is not well.

if we were going to get Allen sectioned surely we would have to do the same for the rest of them on Portsea Island ?

be better to just turn the whole place into an Asylum. lets face it pretty much qualifies already !

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It seems that the Football League have kept their powder dry, watched the situation unfold and then given Brian Mahwhinney a call to find out how it should really be done.

All I can say is, wow. The Football League has not only hit them for the current situation – they have covered their next sneaky moves as well.

I genuinely cannot see a way out for the Skates now other than liquidation or the Football League backing up the truck.

For those feeling sorry for them, don’t. They are like an alcoholic that was given a new liver and kept on drinking.

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Harry Redknapp set to lose £4m on Portsmouth land deal

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/harry-redknapp-set-to-lose-4m-on-portsmouth-land-deal-1-4053312

 

 

 

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muz

10:58 AM on 13/07/2012

he should never have listened to Rosie, what do dogs know about property investment ?

 

 

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spencerc

11:00 AM on 13/07/2012

Thats what you call Karma!!! He probably earnt £4m in bonuses, bungs and commision from players sales!!!! hahahahaha

 

 

 

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North Fareham Blue

12:04 PM on 13/07/2012

Not often you get a story that will make both Pompey and the Scummers happy. Poor old Judas.

 

 

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Paul P

12:09 PM on 13/07/2012

£4 million roughly converts to 1.3 brown envelopes. (allegedly!)

 

 

 

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Harry Stotle

10:43 AM on 13/07/2012

Blimey Harry's having one rubbish summer!

 

 

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KT285714

12:11 PM on 13/07/2012

I wonder how much Rosie lost?

 

 

Still some humour on Portsea!!!

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They're an odd bunch on POL aren't they?

 

Since they went into admin, they've been asking for the FL to impose some 'proper' rules and sanctions to ensure they can't be raped again, especially by Chinny.

 

Now that the league has done just that, they're up in arms complaining that the bestest fans in the whole world are the only ones being punished.

 

Fickle?

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Nah, stupid.

 

Not all. I've seen a number of reactions over there that welcome the FL's decision, not least because it will unhinge BC - cutting his secured debt down to a size that makes his investment seem hardly worthwhile any more, and reinforcing the need to pay football creditors in precisely the way he said meant he wouldn't continue with the bid.

 

I also get the impression that the numbers are growing who think it'll be best all round to liquidate and start all over again.

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Not all. I've seen a number of reactions over there that welcome the FL's decision, not least because it will unhinge BC - cutting his secured debt down to a size that makes his investment seem hardly worthwhile any more, and reinforcing the need to pay football creditors in precisely the way he said meant he wouldn't continue with the bid.

 

I also get the impression that the numbers are growing who think it'll be best all round to liquidate and start all over again.

 

Another Chinny facepalm moment.

In fact he must now be seriously wondering what he has to do in order to escape without leaving his reputation as a businessman in tatters

Edited by Waterside.saint
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Does anyone recall the statutory points penalty for failing to exit administration with a CVA? If the answer is "more than -10 points" then they have got off lightly...

 

http://www.metro.co.uk/sport/football/145759-bates-fumes-as-leeds-lose-15-point-appeal

 

Leeds were deducted 15 points for failing to exit administration via a Company Voluntary Arrangement (CVA).

 

So -10 does seem lenient.

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If Chanrai even hints he might not follow through surely Birchs partners will make him shoot the kitten just to limit their losses? This could end very quickly. What a fantastic birthday present.

 

You have forgotten the trust and their high net worth individuals or, to give them their full titles, new director, new manager, new striker, new midfielder and new goalie.

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Thats the spirit Ohio shows you are a true (blue) scummer, cos if the old boot was on the other foot :D

 

Just over three years ago the boot WAS on the other foot.

 

Then, one day, we were saved by Liebherr, and the thread currently known as Pompey Takeover Saga was started...

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Rangers demoted to Div 3. Interesting.

 

Hopefully this will inspire the Football League and their new found strength.

 

pompey currently have these conditions IF they can start the season, IF...

 

Nutjobs, all your hard work is beggining to pay off - a big pat on the back to you all.

 

Im absolutely delighted with the recent developments, I question whether ive slipped into a beautiful dream.

 

Ive been saying this for a long, long time now... never has it sounded so sweet... MONEYFIELDS!

 

Moneyfieldsclub.jpg

 

Moneyfieldsstand.jpg

 

God Bless Nutjobs

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Redknapp I think ownes a row of property on southsea waterfront.

 

One of the buildings was te legendary nightclub called joannas.

 

Still a building site I think

 

I think he also still owns the penthouse suite in Gunwarf quay. Not short of a bob or two is are arry. The land on Southsea seafront has been cleared after the fire - the council forced the owners to do it. I notice the Spinnaker Tower developers are buying it, wonder if they'll include a working lift in their plans?

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And alternative pre-Ramadan answer to Phil's:

 

 

1) Very slim

 

2) Yes

 

3) None. At the moment it's clear they are NOT in League 1 next season. Given the detail & thought that went into today's announcement, the FL have a contingency plan, and the alternative ”club24” know who they are.

 

”and for those watching in black and white, the blue is the one behind the 15 reds”

 

I'm pretty sure there won't be a "Club 24", the timescales (and the fact the fixtures are already out) means the FL will have 23 teams in L1 if the Skates are liquidated.

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The statutory penalty is -10 (EDIT : make that -15 as stated, looked it up).

 

Leeds got nailed for trying to get around the deduction altogether by going into admin when they were already relegated to take the points hit when it didn't matter, before they brought in the deadline for applying it in the following season. Ken Bates' Leeds shenanigans were actually responsible for a lot of the existing rules.

 

Bournemouth and Luton got additional penalties for multiple admins in a short timescale and irregular payments (which is another one the Skates might yet have to consider).

Edited by The9
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The statutory penalty is -10. Leeds got nailed for trying to get around the deduction altogether by going into admin when they were already relegated to take the points hit when it didn't matter, before they brought in the deadline for applying it in the following season. Ken Bates' Leeds shenanigans were actually responsible for a lot of the existing rules.

 

Bournemouth and Luton got additional penalties for multiple admins in a short timescale and irregular payments (which is another one the Skates might yet have to consider).

 

The exit without a CVA was the vehicle used to punish Leeds -15. Boscombe got -15 for that and an extra 2 for multiple admins.

 

It makes the Skates punishment seem very very lenient, for what is basically the same offense. It seems that having a CVA, but not paying it gets you a 5 point deduction over not having one, and past admins are not taken into account.

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The exit without a CVA was the vehicle used to punish Leeds -15. Boscombe got -15 for that and an extra 2 for multiple admins.

 

It makes the Skates punishment seem very very lenient, for what is basically the same offense. It seems that having a CVA, but not paying it gets you a 5 point deduction over not having one, and past admins are not taken into account.

 

Do bare in minde that, whilst yes, -10 points does seem like not much, -15 isn't much more....and as it's been mentioned before, it's all the add-ons they've included that will do the damage, for example, I think Chanrai will now pack his bags and the PST don't have the required funds to fund them, so the -10 is almost irrelevant.

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Do bare in minde that, whilst yes, -10 points does seem like not much, -15 isn't much more....and as it's been mentioned before, it's all the add-ons they've included that will do the damage, for example, I think Chanrai will now pack his bags and the PST don't have the required funds to fund them, so the -10 is almost irrelevant.

 

It's almost like that was added on just in case they squirmed their way out of the other clauses.

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Do bare in minde that, whilst yes, -10 points does seem like not much, -15 isn't much more....and as it's been mentioned before, it's all the add-ons they've included that will do the damage, for example, I think Chanrai will now pack his bags and the PST don't have the required funds to fund them, so the -10 is almost irrelevant.

 

Unless a new bidder turns up from somewhere who is prepared to spend about £16m to clear the debts and start afresh... which looks far more attractive than it did two days ago.

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The thing that makes me LOL the most with the fish fidlers is that they were happy ride the wave of money being spent their so called mega rich owners did not have and buy an FA Cup win. As soon as the con men got found out and it all went tits up they cry not our fault guv why should we the fans get punished, yes you should take some of the blame because you/they were happy to ride the car crash waiting to happen so that you/they could have a day in the sun.

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The exit without a CVA was the vehicle used to punish Leeds -15. Boscombe got -15 for that and an extra 2 for multiple admins.

 

It makes the Skates punishment seem very very lenient, for what is basically the same offense. It seems that having a CVA, but not paying it gets you a 5 point deduction over not having one, and past admins are not taken into account.

 

Just looked it up, Rotherham got the same -17 at the same time :

 

"Ahead of the 2008–09 season the team [AFCB]'s future in the Football League was put into doubt when the league threatened to block Bournemouth's participation in League Two, due to problems with the team's continuing administration and change in ownership. It ordered both Bournemouth and Rotherham United to demonstrate that they could fulfil all of their fixtures and find a way out of administration,[9] eventually allowing the club to compete but with a 17 point penalty for failing to follow the Football League insolvency rules and the new company would have to pay unsecured creditors the amount offered at the time of the original C.V.A. (around 10 pence in the pound) within 2 years"

 

http://www.guardian.co.uk/football/2008/aug/06/rotherham.bournemouth as well...

 

So, you're right that the default is -15 (see above).

 

But the Skates have a CVA so haven't been punished for not having a CVA, they've been punished for not adhering to the previous CVA. That's not the same as exiting without a CVA so the punishment is different. You could argue it's lenient, but they have not yet had any other possible penalties for anything else which usually come on exiting CVA/getting the golden share.

 

The FL has at no point said "that's all", just "that's it for now". The "past admins" weren't taken into account because they were in the Prem for the 2010 one.

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Serious question

 

They were refused entry to Div1, and that Div 3 was the only alternative.

 

WHY was not Div 2 an option ???

 

Why would it be ? Div 1 would be the highest division they could be placed in with the SPL refusing to admit them and acknowledging the OldCo's previous SPL season, and Div 3 would be treating them like a new club. Div 2 would be arbitrary and make no sense from either position.

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just to address Skate Excuse no.1. The failure of the Fit and Proper Person Test.....

 

It isn't designed to protect clubs from their own stupid decisions, in much the same way as mortgage lenders aren't there to stop you buying an ugly house with no parking.

All of them will lend you a % of the money as long as they know that whatever happens they can get their share back - they don't give a sh!t if you choose a house that looks horrible or is in a nasty area, all they want is their money.

 

For the fans and former owners to suggest the F and PPT should prevent them from welcoming lunatics and suspected crooks is ridiculous.

It is mainly intended to prevent convicted criminals from taking control.

 

If you were buying a car and the internet suggested the selling party was leaving a trail of unhappy customers, what would you do?

Ask some random third party to judge whether it was a good idea, or make a judgement yourself?

 

 

I chose to do business with the mafia and a loan shark - it didn't end well, it must be someone else's fault.

The F and PPT is not a recruitment tool to assist club representatives who have poor judgement, it's a last resort for when their judgement is criminally poor.

 

One day someone down there might just stand up and admit that they got it wrong - but until then, it's everyone else's fault.

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