Pompey Takeover Saga

[trousers]

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.

 

^This. 100%

[Jimmy_D]

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.

 

Pretty much how I see it. It's also worth noting that they haven't exited the CURRENT administration yet. That's probably a moot point though as I can't see any way they won't be liquidated if they don't exit the current administration... any punishment for that would be irrelevant.

[trousers]

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

 

Yes it is....How is it different? The creditors get bugger all (or as near as damn it) in both scenarios. Same outcome, same penalty. Surely?

[trousers]

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?

 

Nutshell (and I'll even forgive you this one time for stealing my car purchase analogy idea....)

[Lord Duckhunter]

Contrast Aly McCoist's statement just released with clowns like Appy, Clotterill, Birch, Grant and other assorted bell ringers.

 

"I fully accept the decision of the SFL today and thank them for allowing us into the SFL.

 

"Clearly, starting again from the bottom league is not ideal and makes the task of rebuilding Rangers a longer one but the SFL was placed in an impossible situation and I respect its decision.

 

"I fully supported the fans views that starting again in Division 3 maintains the sporting integrity that the SPL clubs were so keen on."

 

 

 

 

****ing hell, there's not one Skate who could match the dignity of McCoist.

[Saint Lindford]

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.

 

And lets not forget that Agent Lumpitt, the ex Head of integrity at the FA and latterly head of the train wreck at FP stated that CSI were 'the real deal'.

[Jimmy_D]

From the wording of the FL's statement...

 

Pompey have to agree that only a proportion of secured debt is carried forward.

 

All well and good if Chanrai takes over and reduces his own debt, gets rid of the players, puts some money in, all well and good (unlikely as that is).

 

What happens if someone else takes over, and Chanrai doesn't reduce his claim?

[sussexsaint]

What happens if someone else takes over, and Chanrai doesn't reduce his claim?

 

 

Then the FL will impose further sanctions or refuse the golden share I would have thought

[Truckasaurus]

it is liquidation my little darlings and i for one have a grin like a Cheshire cat,infact my grin is so big you can see both my gold teeth (and they are at the back)

 

I think it is time we had a sweepstake on the actual day. I baggsie the 23rd of July. (The number 23 is also a very dark place ) So a bit of kharma that day would go down well.

 

God bless Old Thumper

[holepuncture]

What happens if someone else takes over, and Chanrai doesn't reduce his claim?

 

Then the FL will impose further sanctions or refuse the golden share I would have thought

 

Its f*cking marvellous isnt it! Chinny has to lose all his money now for the club (i am slowly falling in love with the club) to survive... although lets not forget the famous my position is secured... I will get my money back...

 

I suspect he had wind of this before the delightful news went public, maybe the FL even consulted him... hence the swift arrangement for him to buy the surrounding land from Gadymack. Putting Miland into admin means they can fudge it all into Portpins control in the BVI and get any outstanding mortgages cleared? I suspect so...

 

This fairy tale all began around two decades ago when Arcadi took a few hundred thousand landmines to Angola, it went through the courts of Israel, and here we are now... is this the pompey five year plan? A year or two ago on this thread we were discussing this eventuality.

 

Sasha and Balram, sitting in a tree(/car park), slowing killing dirty pompey?

 

 

it is liquidation my little darlings and i for one have a grin like a Cheshire cat,infact my grin is so big you can see both my gold teeth (and they are at the back)

 

I think it is time we had a sweepstake on the actual day. I baggsie the 23rd of July. (The number 23 is also a very dark place ) So a bit of kharma that day would go down well.

 

God bless Old Thumper

 

Im happy for you Truckasaurus, God Bless your Cheshire cat grin.

 

August 6th for me please

[Joe Kirkup]

stealing an idea from the matchday threads - what page do we think we'll be on when the end finally comes - my guess 1497

 

Looks like I overestimated a tad.

[pedg]

I am going to get the disappointment of being wrong out the way and go for a week today, i.e. the 20th.

[suewhistle]

OldNick.. your date choice?? ;-)

[Winchester Red]

I'm going to play the odds on this one

 

It'll be announced on the 24th July

[Torres]

OldNick.. your date choice?? ;-)

 

Dinner and a movie with you Sue, probably.

[eurosaint]

I thought that Varney and Norris were nailed on to leave by the middle of the week ??

Surely they are not now hanging about as the FL have said that football creditors should be paid in full by any new owner ???

[Depressed of Shirley]

17th July please, its my birthday.

[trousers]

28th July

[Winchester Red]

I thought that Varney and Norris were nailed on to leave by the middle of the week ??

Surely they are not now hanging about as the FL have said that football creditors should be paid in full by any new owner ???

 

That clause certainly hasn't made it any easier for TB.

 

Good to see the parachute payments being used for what they were meant for though.

[Winchester Red]

Is someone going to keep track of these dates. I'd hate for someone to steel the 24th off me!

 

[Truckasaurus]

Roll up roll up "get ya dates in now they are going fast" not many left 'til the start of the season. "Sorry only one day each madame"

Roll up roll up.

 

God bless market day.

[JackFrost]

17th July please, its my birthday.

 

23rd July is my bday

[St Lightjaw]

Next Tuesday, 17th July, 2.15pm.

 

 

edit ... bugger .... date taken

 

 

18th then!

Edited 13 July, 2012 by St Lightjaw

[70's Mike]

sorry but somehow they will slime out of it, have no idea how but think Rosie the dog will make a bid

[cryoman1965]

27th July. The day I go on me hols to Tenerife with a skate....

 

God bless hair removal wax....for that sensitive area

[trousers]

sorry but somehow they will slime out of it

 

Despite being delighted by the Football League finally seeing sense to penalise the failed CVA for Admin1, I'm actually thinking the same.

 

I suspect by putting the shackles on Chainrai and his derisory CVA2 offer the Football League have opened the door for a 'moderately rich' individual or consortium to give Pompey a second look. Maybe someone like Brian Howe will fancy another sniff at the books if he knows that Chainrai's grip on the club's future finances has been significantly diluted.

 

That said, if we don't hear a whisper of someone else on the scene before August then it could well be time to start rubbing down the podgy lady with a tub of Jojoba Butter

[hypochondriac]

Despite being delighted by the Football League finally seeing sense to penalise the failed CVA for Admin1, I'm actually thinking the same.

 

I suspect by putting the shackles on Chainrai and his derisory CVA2 offer the Football League have opened the door for a 'moderately rich' individual or consortium to give Pompey a second look. Maybe someone like Brian Howe will fancy another sniff at the books if he knows that Chainrai's grip on the club's future finances has been significantly diluted.

 

That said, if we don't hear a whisper of someone else on the scene before August then it could well be time to start rubbing down the podgy lady with a tub of Jojoba Butter

Yep could well be someone sniffing around now. I mean if Bournemouth can get someone then anyone can.

[View From The Top]

Despite being delighted by the Football League finally seeing sense to penalise the failed CVA for Admin1, I'm actually thinking the same.

 

I suspect by putting the shackles on Chainrai and his derisory CVA2 offer the Football League have opened the door for a 'moderately rich' individual or consortium to give Pompey a second look. Maybe someone like Brian Howe will fancy another sniff at the books if he knows that Chainrai's grip on the club's future finances has been significantly diluted.

 

That said, if we don't hear a whisper of someone else on the scene before August then it could well be time to start rubbing down the podgy lady with a tub of Jojoba Butter

 

I hope they don't get liquidated quite yet, I'm enjoying it all far too much.

[Fowllyd]

Im happy for you Truckasaurus, God Bless your Cheshire cat grin.

 

August 6th for me please

 

Hiroshima Day. How very appropriate.

 

Me, I'll go for the 10th August, which will make it a very special day which I'll remember for the rest of my life. Oh yeah, almost forgot - I'm getting married on the 10th August too...

[Waterside.saint]

I hope they don't get liquidated quite yet, I'm enjoying it all far too much.

 

[trousers]

Hiroshima Day. How very appropriate.

 

Me, I'll go for the 10th August, which will make it a very special day which I'll remember for the rest of my life. Oh yeah, almost forgot - I'm getting married on the 10th August too...

 

You seriously want to be getting married the day this thread is closed? Where's your priorities man? :-)

[andysstuff]

31 July for me - don't think they've got enough to cover another pay day.

[biondani]

28th July for me. My wedding anniversary

[Ampersound]

3rd August please. My old mans Bday

[View From The Top]

28th July for me. My wedding anniversary

 

That is also my wedding anniversary.

[Gemmel]

Courtesy of the most boring conference call I have ever had the misfortune of having to attend.

 

I thought yesterdays news was worthy of a little celebration. My attempt to consolidate the entire thread failed miserably so ended up as a little ditty made up of the main players (Not events).

 

Old Peter burnt the midnight oil

But saw no fruits for all his toil

As time ran down and debts ran up

He sought a buyer, but had no luck

 

Avram came and Avram went

In Horton Heath his load he spent

The blue few cheered and sang his name

As he kissed the badge and showed no shame

 

But Salvation seemed not far away

With, Al. Fahim to save the day

He wasn’t quite a billionaire

And walked right into to Baloo’s lair

 

With the ice cream man out of town,

A new savior would soon be found.

Some still believe this man a myth

But to portpin he was a perfect “gift”.

 

When the debt could rise no more

Old Chinny came and knocked the door.

With an admin here and an admin there

“My debts secured so I don’t care.”

 

The time had come to sell again

And Chinny chose some Russian men.

Their eyes were bright and their smile true,

But Ruffmafia and the nutjobs KNEW.

 

And so indeed it came to pass

That Antonov wouldn’t last

Shackled in an English Jail

Another epic pompey fail

 

But true to form they did not sell

In fact they saw their numbers swell

So come the middle of Janu ary

It was onto admin number three.

 

With a heavy heart and weary face

Poor old lampitt lost his place

It looked like Andy would return

But his advances, the judge would spurn

 

So up stepped Trev from pkf

To find there was no money left

His rallying cries went unheard

And the players thought his requests absurd

 

It looked like Cala would be their man

With his whacky underwater plan,

But alas no, it was not he

That could resurrect old portsea

 

That just left Chinny to take the reigns

But the pst have a bid to feign.

The race is on, but who will win

The smart money say it’s old portpin.

 

But what looked straight forward was soon to change

When the football league, found their range.

To prove they were all worthy men

They hit the skates with minus ten

 

The final verse is yet to play

Will they live another day?

From the ones that seem to know the most

The current thought is, they look like “Toast”.

[Weston Super Saint]

Yep could well be someone sniffing around now. I mean if Bournemouth can get someone then anyone can.

 

Please let it be Marc

[St Chalet]

Hope they get liquidated soon, we need to plan the PTS celebration evening. Looking forward to 'Toasting' their demise.

 

We need a flash venue we wouldn't normally be able to afford with some over the hill rockers as entertainment. The kitty will be funded on the basis of £1 per post, although in homage to this thread we will reduce it to 20p, then to 2p and finally accept it will be 'Bring a Bottle' and held in the parks.

[biondani]

That is also my wedding anniversary.

 

Well I'm not married to you lol.

 

Ian

[Waterside.saint]

Courtesy of the most boring conference call I have ever had the misfortune of having to attend.

 

I thought yesterdays news was worthy of a little celebration. My attempt to consolidate the entire thread failed miserably so ended up as a little ditty made up of the main players (Not events).

 

Old Peter burnt the midnight oil

But saw no fruits for all his toil

As time ran down and debts ran up

He sought a buyer, but had no luck

 

Avram came and Avram went

In Horton Heath his load he spent

The blue few cheered and sang his name

As he kissed the badge and showed no shame

 

But Salvation seemed not far away

With, Al. Fahim to save the day

He wasn’t quite a billionaire

And walked right into to Baloo’s lair

 

With the ice cream man out of town,

A new savior would soon be found.

Some still believe this man a myth

But to portpin he was a perfect “gift”.

 

When the debt could rise no more

Old Chinny came and knocked the door.

With an admin here and an admin there

“My debts secured so I don’t care.”

 

The time had come to sell again

And Chinny chose some Russian men.

Their eyes were bright and their smile true,

But Ruffmafia and the nutjobs KNEW.

 

And so indeed it came to pass

That Antonov wouldn’t last

Shackled in an English Jail

Another epic pompey fail

 

But true to form they did not sell

In fact they saw their numbers swell

So come the middle of Janu ary

It was onto admin number three.

 

With a heavy heart and weary face

Poor old lampitt lost his place

It looked like Andy would return

But his advances, the judge would spurn

 

So up stepped Trev from pkf

To find there was no money left

His rallying cries went unheard

And the players thought his requests absurd

 

It looked like Cala would be their man

With his whacky underwater plan,

But alas no, it was not he

That could resurrect old portsea

 

That just left Chinny to take the reigns

But the pst have a bid to feign.

The race is on, but who will win

The smart money say it’s old portpin.

 

But what looked straight forward was soon to change

When the football league, found their range.

To prove they were all worthy men

They hit the skates with minus ten

 

The final verse is yet to play

Will they live another day?

From the ones that seem to know the most

The current thought is, they look like “Toast”.

 

[Fitzhugh Fella]

Think it about time this thread was switched back to the main board and made a sticky. It should never have been moved in the first place, as it is - as 66533 posts have indicated - very close to Saints fan's hearts. There are still quite a few users of this forum who are not aware of this glorious demise discussion of our fishy neighbours. And now as the end is surely nigh a wider audience needs to witness the final rites ....surely?

[Joey-deacons-left-nut]

It will be a Friday f'sure....

[pedg]

Think it about time this thread was switched back to the main board and made a sticky. It should never have been moved in the first place, as it is - as 66533 posts have indicated - very close to Saints fan's hearts. There are still quite a few users of this forum who are not aware of this glorious demise discussion of our fishy neighbours. And now as the end is surely nigh a wider audience needs to witness the final rites ....surely?

 

No leave it here as you have to be registered to use the main board and we would not want to restrict the readership.

[St Chalet]

Think it about time this thread was switched back to the main board and made a sticky. It should never have been moved in the first place, as it is - as 66533 posts have indicated - very close to Saints fan's hearts. There are still quite a few users of this forum who are not aware of this glorious demise discussion of our fishy neighbours. And now as the end is surely nigh a wider audience needs to witness the final rites ....surely?

 

I discovered The Lounge because it was here. I also think it has developed a cult following and enabled some Skates to take part as well, I genuinely think we have had a better quality debate / campaign as a result.

 

Maybe we can advertise the thread on the main board.

[View From The Top]

Think it about time this thread was switched back to the main board and made a sticky. It should never have been moved in the first place, as it is - as 66533 posts have indicated - very close to Saints fan's hearts. There are still quite a few users of this forum who are not aware of this glorious demise discussion of our fishy neighbours. And now as the end is surely nigh a wider audience needs to witness the final rites ....surely?

 

No, this is its home.

[trousers]

I agree with FF :-)

[St Chalet]

Think it about time this thread was switched back to the main board and made a sticky. It should never have been moved in the first place, as it is - as 66533 posts have indicated - very close to Saints fan's hearts. There are still quite a few users of this forum who are not aware of this glorious demise discussion of our fishy neighbours. And now as the end is surely nigh a wider audience needs to witness the final rites ....surely?

 

Oh, and don't call me Shirley!

[trousers]

I discovered The Lounge because it was here. I also think it has developed a cult following and enabled some Skates to take part as well, I genuinely think we have had a better quality debate / campaign as a result.

 

Maybe we can advertise the thread on the main board.

 

I agree with this too. A good compromise - have a locked sticky on the main board with a link to here. Win win

[rallyboy]

nice one G.

 

 

I'm not convinced that they won't just stumble on - god knows how, but let's not forget that this turd has been bobbing about for quite a time.

We've written them off before.

They should've been wound up in court, and it was madness for Chinny to even think about coming back - whose to say he might not decide to chuck more money into the black hole just to spite the FL and the Trust?

 

 

Though in reality, one prod with a birch twig and a good old flush might be enough to see them around the U bend.

[pedg]

So trying to get my puny human brain around this...

 

At the moment chinny has about 16 million in secured debt against pompey such that if they go bust he basically gets everything (except the players and the parachute payments). In reality that really just FP?

 

If he goes through with the CVA he has to pay half a million on the CVA and pay off ALL the football creditors but can only hold a charge over the club equivalent to the value of FP? To be in a better position than on liquidation he then has to hope that within a short time frame the position improves so he can sell it for at least as much as he paid to the football creditors plus £0.5M CVA plus what he would have got for selling FP?