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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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St Chalet

St Chalet

Posted
Posted
I see you Pony Boys are putting 2+2 together and making 4 again;)

 

  • So Pompey are effectively a vehicle for shifting funds around. A lot of money from transfers vanishing. The cuuent wafe bill being £25m or so doesn't explain all the other fees.
  • The Premier League are the only ones able to confirm Al Faraj actually exists.
  • A lot of Arcadi's chums are involved. What happened to his last club?

It doesn't look good.

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Daren W

Daren W

Posted
Posted
I see you Pony Boys are putting 2+2 together and making 4 again;)

 

Well perhaps if you fish ****ers had asked asked a few more questions in the first place, rather than boasting about your rich owner, you wouldn't be in this mess...

 

Don't blame us if you didn't have the intelligence to ask questions...

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rockhill

rockhill

Posted
Posted
I see you Pony Boys are putting 2+2 together and making 4 again;)

 

No it comes from a skate site (see post 6259)

 

Two men called Balram Chainrai and Levi Kushnir loaned us £15m in September to help with costs. These two men co-founded a company called Ameris Holdings, who sold 65% of shares to Sasha Gaydamak’s father Arcadi (who has an arrest warrant out for him in France for arms dealing during the Angolan civil war. He’s been sentenced to six years but is now hiding back in Russia as they have no extradition treaty with France) Anyway, Arcadi used to be owner of Beitar Jerusalem *****il July this year) but ran into some problems with Israeli law and had his account frozen. His business partners Chainrai and Kushnir sued Arcadi for failing to buy the rest of the shares of their company Ameris Holdings as was apparently agreed, and were awarded £16m from Arcadi’s frozen accounts. They then lend Pompey £15m for apparently no reason at all…. seems like a good way of transferring cash from one frozen bank account to another active one, no?

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Faz

Faz

Posted
Posted

As we found to our cost (well perhaps not in the end) the FL, and the EPL, are effectively members clubs with the power to demand what they want from their members.

 

It really is time the EPL grew some and demanded that the PFC prove that they are not under the control of Daddy Gheydamak. Not easy to prove a negative, I know, but first off Ali Al-Mirage should be required to attend a meeting with forensic accountants to demonstrate how he has funded the club, and how he intends to in the coming months. If he cannot demonstrate a viable plan to see them through to the end of the season, then their insolvency rules come in to force. Otherwise what happens on January Pay Day? The whole sorry farce begins again.

 

Secondly, anyone providing more than 20% of the Capital in the business - either share or loan, shold be subject to the same scutiny - both financial and motivational.

 

The EPL have a duty to the fans and the other clubs. Mawhingy declared in our case it was up to the FL to maintain the integrity of the competion, and that is why we were done. Where is the integrity in what is happening to the blue few - and the few decent ones deserve better leadership and stewardship than the EPL are currently displaying.

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Saint George

Saint George

Posted
Posted
Well perhaps if you fish ****ers had asked asked a few more questions in the first place, rather than boasting about your rich owner, you wouldn't be in this mess...

 

Don't blame us if you didn't have the intelligence to ask questions...

 

TBF, the few of us that asked questions about 'Mike' were put on the ducking stool by you and and the rest of the pitch fork brigade

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Daren W

Daren W

Posted
Posted
TBF, the few of us that asked questions about 'Mike' were put on the ducking stool by you and and the rest of the pitch fork brigade

 

And to be equally fair we were lied to.

 

But then again some of us pitch forkers weren't afraid to admit that Lowe did some good things as well as some bad things and we were equally mocked and ridiculed...

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dubai_phil

dubai_phil

Posted
Posted

Gotta do this. Been bugging me all day

 

A follow on to the snippet this morning that Sheikh Mo was supposed to be saving the skates....

 

It clearly has some mileage..

 

It would allegedly give them a full set, 3 out of 3 skint Arabs...

 

 

 

We can't find it down here as it was severely banned and people got shot for emailing it around (allegedly) but there was a legendary cartoon in the Times Newspaper around 2nd Dec -

4 wives & 56 kids to support with his begging bowl outside the Burj Newnamethisweek...

 

I don't like the look of the sound of all these stories emanating, they smell a funny colour

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aintforever

aintforever

Posted
Posted
As we found to our cost (well perhaps not in the end) the FL, and the EPL, are effectively members clubs with the power to demand what they want from their members.

 

That could be why the skates have got off so lightly, wasn't Premier League Chairman Dave Richards up to his gonads in the first dodgy take over deal involving Thaksin Shinawatra?

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yoda

yoda

Posted
Posted

Would love it if a Pompey 419, something like this, arrived in my inbox...there's so much material to use but didn't want to overdo it...

 

 

From: Prince Peter Mark Jacob Storrie-Teller

Date: Wednesday, January 10, 2010 12:53 PM

Subject: Investment/Urgent

 

Attn: Sir/ Madam,

 

May I crave your indulgence to open this business discussion by a formal letter of this sort. It is pertinent that a business of this magnitude should have commenced properly with a formal meeting of you and us to enable us know ourselves, have a fore knowledge of the nature of the business, discuss and acquaint ourselves with the responsibilities and functions of parties concerned, and appropriate sharesaccordingly. However, for time factor, confidentiality and personality of people involved here in Portsmouth, we choose this approach for the remittance of this Sixty Million, Five Hundred Thousand Pounds Sterling (UK£60.5M). Please bear with us for making the initial contact through e-mail. But my partners are insisting for a meeting in order not to fall into a wrong hand again.

 

I am Prince Peter Mark Jacob Storrie-Teller, we are members of the special committee for Budget and Planning of the “Contract Award Committee” of “Portsmouth Football Club (PFC)”, a subsidiary of the "South-East Hants Comedy Club (SEHCC)". This committee is principally concerned with contract appraisal and the approval of the contracts in order of priorities as regards capital projects of Association Soccer Ball of Portsmouth.With our positions, we have successfully secured for ourselves this sum of Sixty Million, Five Hundred Thousand Pounds Sterling (UK£60.5M).

 

As you are probably aware Portsmouth Football Club is the single greatest football club in the history of Association Soccer Ball, with an established place in the top flight in England and literally thousands of the Best Fans in the World ™. The money was accumulated through substantial revenue streams from Portsmouth's World Class Stadium, pies and television revenue. Hence together with two of our top officials at PFC, we plan to transfer this amount of money into a secure overseas account by awarding a sort of contract from the PFC. To this effect I have been given the mandate by my colleagues to contact you and ask for your assistance. What we need from you is to provide a nice account in which the funds will be transferred. Everything about me is nice sir, so you've hit the jackpot here.

 

We are currently hamstrung because of ridiculous domestic football rules over trivial things such as payment of UK Taxes, debts to other football clubs and payment of our employees, for which the Evil English Premier League withheld our television money. In order to release the funds it is necessary for a fit and proper person, like your nice self, to loan us the money to pay our players this month. My colleagues and I have agreed to compensate you or the owner of the account used for this transaction with 25% of the total amount remitted. We shall have 70% and the remaining 5% reserved for taxes and other miscellaneous expenses in your country.

 

So if you can prove yourself to be trusted and interested in this deal then we are prepared to do business with you. What we want from you is the assurance that you will provide the buy-in funds and waive payment of your share for at least a decade, if ever. If this proposal is okay by you, then reply through my email urgently so that we can set the ball rolling and negotiate the modalities involved. Kindly, treat as very important and strictly confidential, I honestly assure you that this transaction is 100% risk-free.

I look forward to your response and expected co-operation and God bless you.

 

Regards.

 

Prince Peter Mark Jacob Storrie-Teller

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Tamesaint

Tamesaint

Posted
Posted
Would love it if a Pompey 419, something like this, arrived in my inbox...there's so much material to use but didn't want to overdo it...

 

 

From: Prince Peter Mark Jacob Storrie-Teller

Date: Wednesday, January 10, 2010 12:53 PM

Subject: Investment/Urgent

 

Attn: Sir/ Madam,

 

May I crave your indulgence to open this business discussion by a formal letter of this sort. It is pertinent that a business of this magnitude should have commenced properly with a formal meeting of you and us to enable us know ourselves, have a fore knowledge of the nature of the business, discuss and acquaint ourselves with the responsibilities and functions of parties concerned, and appropriate sharesaccordingly. However, for time factor, confidentiality and personality of people involved here in Portsmouth, we choose this approach for the remittance of this Sixty Million, Five Hundred Thousand Pounds Sterling (UK£60.5M). Please bear with us for making the initial contact through e-mail. But my partners are insisting for a meeting in order not to fall into a wrong hand again.

 

I am Prince Peter Mark Jacob Storrie-Teller, we are members of the special committee for Budget and Planning of the “Contract Award Committee” of “Portsmouth Football Club (PFC)”, a subsidiary of the "South-East Hants Comedy Club (SEHCC)". This committee is principally concerned with contract appraisal and the approval of the contracts in order of priorities as regards capital projects of Association Soccer Ball of Portsmouth.With our positions, we have successfully secured for ourselves this sum of Sixty Million, Five Hundred Thousand Pounds Sterling (UK£60.5M).

 

As you are probably aware Portsmouth Football Club is the single greatest football club in the history of Association Soccer Ball, with an established place in the top flight in England and literally thousands of the Best Fans in the World ™. The money was accumulated through substantial revenue streams from Portsmouth's World Class Stadium, pies and television revenue. Hence together with two of our top officials at PFC, we plan to transfer this amount of money into a secure overseas account by awarding a sort of contract from the PFC. To this effect I have been given the mandate by my colleagues to contact you and ask for your assistance. What we need from you is to provide a nice account in which the funds will be transferred. Everything about me is nice sir, so you've hit the jackpot here.

 

We are currently hamstrung because of ridiculous domestic football rules over trivial things such as payment of UK Taxes, debts to other football clubs and payment of our employees, for which the Evil English Premier League withheld our television money. In order to release the funds it is necessary for a fit and proper person, like your nice self, to loan us the money to pay our players this month. My colleagues and I have agreed to compensate you or the owner of the account used for this transaction with 25% of the total amount remitted. We shall have 70% and the remaining 5% reserved for taxes and other miscellaneous expenses in your country.

 

So if you can prove yourself to be trusted and interested in this deal then we are prepared to do business with you. What we want from you is the assurance that you will provide the buy-in funds and waive payment of your share for at least a decade, if ever. If this proposal is okay by you, then reply through my email urgently so that we can set the ball rolling and negotiate the modalities involved. Kindly, treat as very important and strictly confidential, I honestly assure you that this transaction is 100% risk-free.

I look forward to your response and expected co-operation and God bless you.

 

Regards.

 

Prince Peter Mark Jacob Storrie-Teller

 

 

 

Brilliant!!

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Eastcowzer

Eastcowzer

Posted
Posted
skatesmouth players visited sick children from skatemouth QA' hospital over the christmas period " it's nice to put a smile on the faces of those who are worse off than we are and facing a long uphill struggle " said david smith aged 6 .

 

.....and the kids gave them all presents, in lieu of wages.!

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pedg

pedg

Posted
Posted

So what is the general opinion about why Mark Jacob came out over the weekend with his media blitz claiming all is well?

 

A) He was trying to stop the fans protesting.

B) He was trying to con other clubs into paying more for players by trying to convince them they don't need to sell.

C) All is actually well, they have enough funding, etc.

 

or D?

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Doctoroncall

Doctoroncall

Posted
Posted
So what is the general opinion about why Mark Jacob came out over the weekend with his media blitz claiming all is well?

 

A) He was trying to stop the fans protesting.

B) He was trying to con other clubs into paying more for players by trying to convince them they don't need to sell.

C) All is actually well, they have enough funding, etc.

 

or D?

 

D) Just trying to muddle along as best they can at the comedy club. They need to raise/find money for January wages, HMRC and possibly Gaydamak in the next month. That could be anything from £6m to £15m from any of the media reports and I'm sure Lens (?) also want some money.

 

Tick Tock...

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Fowllyd

Fowllyd

Posted
Posted
So what is the general opinion about why Mark Jacob came out over the weekend with his media blitz claiming all is well?

 

A) He was trying to stop the fans protesting.

B) He was trying to con other clubs into paying more for players by trying to convince them they don't need to sell.

C) All is actually well, they have enough funding, etc.

 

or D?

 

A mix of A and B. Reading the articles from The News, he really doesn't say very much at all - just bland assurances. Added to this, The News didn't ask the questions which they really should have done, which made it a lot easier for Jacob.

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dubai_phil

dubai_phil

Posted
Posted
So what is the general opinion about why Mark Jacob came out over the weekend with his media blitz claiming all is well?

 

A) He was trying to stop the fans protesting.

B) He was trying to con other clubs into paying more for players by trying to convince them they don't need to sell.

C) All is actually well, they have enough funding, etc.

 

or D?

 

Reading this type of stuff

 

http://www.dailymail.co.uk/sport/football/article-1242012/Portsmouth-waiting-owner-Ali-Al-Faraj-face.html

 

I'd say D was way too simplistic. More likely to be Z

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pedg

pedg

Posted
Posted
Reading this type of stuff

 

http://www.dailymail.co.uk/sport/football/article-1242012/Portsmouth-waiting-owner-Ali-Al-Faraj-face.html

 

I'd say D was way too simplistic. More likely to be Z

 

On a related note I think everyone missed the important person hiding in that photo on that page. Here is the same picture digitally enhanced. Is this their new owner who tries very hard to stay hidden whenever possible.....

 

 

 

 

 

wallyn.jpg

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dronskisaint

dronskisaint

Posted
Posted

Not sure if this has been on before....pretty scathing generally but the skates get a particular lambasting & Saggy the twitch too - From The Guardian site

 

What a waste of money – the Premier League's best-paid flopsAs Portsmouth stare into the financial abyss, more and more players on lucrative contracts are languishing on the sidelines

Comments (202)

Buzz up!

Digg it

 

John Utaka celebrates scoring a rare goal for Portsmouth following his £7m transfer from Rennes. Photograph: Eddie Keogh/Reuters

 

John Utaka was Portsmouth's record signing when he joined from Rennes in July 2007 for £7m. In two and a half years, he has become their record waste of money.

 

Utaka has started 31 Premier League games and scored seven times in all competitions. Since claiming five of those goals in his opening season the Nigerian's form has declined disappointingly. This season his highlight was scoring against Hereford United in the Carling Cup five months ago. Despite Portsmouth's well-documented problems – Avram Grant has only 17 outfield players, and is operating under a transfer embargo – Utaka has started only twice in the league, back in August. Not only was Utaka rejected by Nigeria for the Africa Cup of Nations that starts tonight, he did not even get into the 32-man preliminary squad.

 

Portsmouth are debt-ridden and threatened with administration. Her Majesty's Revenue and Customs served a winding-up petition on the club just before Christmas, and Portsmouth cannot find the £10m required to lift the transfer embargo. Utaka, meanwhile, continues to enjoy the rewards of his four-year contract on a barely credible £80,000 a week. If he stays to the end of his term, the total cost to Portsmouth will be about £23m. That would be enough to secure their immediate future.

 

Utaka, through no fault of his own, is an ongoing liability who arguably represents the worst piece of transfer business ever conducted by Portsmouth's chief executive Peter Storrie and the club's former manager Harry Redknapp. On landing him Redknapp said of Utaka and another player signed that day: "I'm delighted with the pair of them, they will give us an awful lot up front. We're bringing in people who are ready to play and it will make us stronger."

 

Utaka's new strike partner? David Nugent. The £6m acquisition was, strangely, never given a run in the first team by Redknapp, and is currently farmed out on loan at Burnley, having started 18 league games in three seasons, often out of position.

 

Portsmouth, though, are not the only club guilty of signing players on lucrative, long-term contracts who run up massive bills while sitting on the bench or playing in the reserves – much to the disgust of resentful supporters.

 

Seven years after Observer Sport first featured the "waste of money" signings, further scrutiny of the Premier League provides evidence that chairmen, chief executives, directors of football and managers are still patsies for players and agents with slick negotiating skills.

 

In 2003 Everton's Duncan Ferguson (10 seasons, 59 goals) and Leeds' Seth Johnson (£7m from Derby, 15 league starts, one goal, £35,000 a week) were among the costliest mistakes. In 2010 Utaka is joined by, among others, Liverpool's £11.5m Ryan Babel (five-year contract, £45,000 a week), £17m David Bentley at Spurs (six years, £50,000 a week), and several Newcastle United players who are on £50,000-plus.

 

According to the accountants Deloitte, salaries continue to be a bigger drain on finances than transfer fees. In 2003, the total transfer spend was £248m. In 2008 (the latest available figure) it was £675m. The wages cost £548m and £787m respectively, so the gap is closing between transfer fees and wages, but the overall outlay nearly doubled in five years.

 

"It's accelerated out of all proportion. And, it's a massive, massive capital outlay for the potential return," says David Pleat, the former Tottenham manager and director of football, who is now Nottingham Forest's special adviser. "If you pay a very high fee there's not many clubs you can hive that player off to if they're not successful. Some of the have-nots have been absolutely stupid, like Portsmouth, and have just paid for what they consider assets in pursuit of short-term glory. A lot of clubs are loaded with players on high salaries who they'd have massive problems manoeuvring to other clubs."

 

Such mismanagement by Portsmouth (their recorded wages outlay for 2008 was £54.6m) has left them with the near impossible task of shifting Utaka, who is trousering the sort of money earned by marquee performers at Manchester United, Manchester City, Liverpool or Chelsea. Even Arsenal's best-paid player, Cesc Fábregas, apparently earns "only" £60,000 a week.

 

The problem has not gone away for Redknapp in his new role at Spurs. His current problem high-earners start with Bentley, who signed for Spurs a few months before Redknapp's arrival in 2008. The return for more than £20m spent on Bentley's transfer fee and wages so far: 21 league starts, a single goal, a drink-driving conviction and an England career stalled at six caps.

 

While Chelsea were relieved to sell Steve Sidwell in 2008 after a single £50,000-a-week season in which he made seven starts, Aston Villa fans are not so happy with Martin O'Neill's decision to pay £5m for the midfielder. He has played for Villa 32 times and is seen by regulars as excess to requirements.

 

At Anfield Babel, who has made 24 League starts since 2007, and Andriy Voronin, five goals and 14 starts for his £30,000 a week deal before this week's move to Dynamo Moscow, have disappointed. Liverpool's debt is £350m and rising.

 

Pleat adds: "I believe [Arsène] Wenger runs a football club like a football club should be run. There is a definite balance between what comes in and what comes out."

 

This month, Wenger was indeed contemptuous of overspending and financial incompetence. "Professional football is about winning and balancing the budget. That's the basic rule, one I fought for. All the rest is half-cheating. For every club it has to be the same. I always pleaded for financial fair play. The clubs belong to the fans. That's all I feel my responsibility is, to keep the club in good financial condition."

 

Wenger's comments followed Chelsea's statement that they were now free of debt, having converted £340m owed to Roman Abramovich into shares. He spoke ahead of Arsenal's meeting with West Ham, another financially stricken Premier League club hoping for a buyer, one willing to take on their £70m liabilities.

 

 

Who, then, is to blame when clubs spend so much money – waste so much money – on underperforming players? Listen to Seth Johnson and, it appears, the players should not be held responsible. Johnson says of his infamous move to Leeds: "I would have been a fool to turn down the money. It was nothing to do with me – everyone in the country would have done the same thing."

 

The Professional Footballers' Association would hardly advocate any changes that might curtail members' income. "I don't like salary capping, it's an artificial structure," says the PFA's chief executive, Gordon Taylor. "The fact that there's more money in the game than ever is more reason to have strong financial propriety. It's like playing cards for big stakes, you can lose much more heavily."

 

The Premier League's stance is that what clubs pay players is their business. Pleat agrees. "Alan Sugar [Tottenham's chairman from 1991-99] said many years ago at a Premier League meeting, 'Gentlemen, it doesn't matter whether the television company gives us £3m or £33m, we'll **** it up the wall on wages.'."

 

Below the top tier some effort has been made, though not universally. Four years ago, League Two owners agreed to cap wages at 60% of turnover. But League One and Championship clubs refuse, despite campaigning from Lord Mawhinney.

 

Echoing Sugar, the Football League chairman says: "After I'd told the Championship clubs we'd done a new media deal for a 130% increase in their TV revenue, one chairman said, 'Brian, for God's sake give us some help because if you don't put in some form of regulation, we're going to **** this money up the wall on players' wages'."

 

One advocate of a salary cap is the Hull chairman Adam Pearson. He returned to Hull this season after a stint with Derby, and wants to offload several high earners to cut the wage bill by around £9m and avoid serious financial problems.

 

Pearson believes the game would benefit from having limits imposed on their wage bill, and said: "Clubs have to have a grip on wages. If a club has a turnover of £50m, for instance, then 55-60% would be an acceptable amount to spend on wages with maybe a further £1.5m to be paid on agents' fees.

 

"The rest could then be used on improving the infrastructure of the club. It is not rocket science."

 

There is, however, no prospect of Premier League clubs collectively deciding on a salary cap, according to a League spokesman. One successful agent concurs, while also telling Observer Sport: "In my experience, clubs are not bargaining hard on contracts."

 

This is a familiar refrain to Pleat. "Players who are promoted to the Premier League and get increased money won't accept it all on appearances. And the big problem is the agent won't accept that, if relegated, the player will take an X per cent pay cut in basic salary.

 

"We've given all the money away. Players have had shrewd agents acting on their behalf and the clubs have succumbed."

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saint lard

saint lard

Posted
Posted (edited)

Jacobs trying to avert the protest....

http://www.portsmouth.co.uk/sport/Pompey-39would-have-sunk39-without.5971386.jp

 

I see A Faraj watched the game on the internet!

 

The supporters are revolting,pardon the pun......

 

http://www.portsmouth.co.uk/marchtothepark/Pompey-fans-take-quest-for.5971169.jp

Edited by saint lard
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pedg

pedg

Posted
Posted (edited)
Once again, the comments make interesting reading, they just don't see the big picture do they??

 

Must say some of them have the ring of astroturfing...

 

"I was going to protest but now I have see the light.. don't do it people"

 

etc.

Edited by pedg
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Gravesend Saint

Gravesend Saint

Posted
Posted

 

'I can sympathise with supporters and I can understand their frustrations, but they have to realise the perilous state the club was in October 2009.

 

'They have got to appreciate the huge strides we have made since to stabilise the club, to get us into the position now where we have a fighting chance to survive in the Premier League and to move on.'

 

 

Who is more in denial here?

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benjii

benjii

Posted
Posted
Not sure if this has been on before....pretty scathing generally but the skates get a particular lambasting & Saggy the twitch too - From The Guardian site"

 

I was listening to 6-0-6 last night. A Spurs fan called in and was stating how impressive Spurs financials were and that being run as a business rather than a status symbol or a fan's dream was the way forward.

 

Gabriel Marcotti said, "well, let's see how your finances look after another 12 months of Redknapp!"

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Clapham Saint

Clapham Saint

Posted
Posted
I was listening to 6-0-6 last night. A Spurs fan called in and was stating how impressive Spurs financials were and that being run as a business rather than a status symbol or a fan's dream was the way forward.

 

Gabriel Marcotti said, "well, let's see how your finances look after another 12 months of Redknapp!"

 

 

Bournemouth entered administration 7 Feb 2008

West Ham United entered administration 12 September 2008

Portsmouth in the financial brown stuff

Southampton entered administration April 2009

Portsmouth in the financial brown stuff

Tottenham Hotspur......................................

 

 

Spurs fans should be sh**ing themselves

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pedg

pedg

Posted
Posted

As the next big date for pompey is Wednesday with their appeal again their VAT bill does anyone know how likely they are to win it?

 

Also it says here: http://www.independent.ie/sport/soccer/portsmouth-must-pay-taxman-or-face-court-1994711.html

 

"To date the new owner has injected a total of £9.7m of new funds to HMRC -- £5.7m paid and security to the value of £4m," the club said.

Its said somewhere that they are disputing 7.5 million in VAT, that the winding up order talks of 3 million owed, and that if they win they could get 0.5 million back.

 

My assumption is that of that 7.5 million VAT they have paid 0.5 million and deposited security to the value of 4 million so that this leaving the 3 million outstanding. If they win they get 0.5 million back and their security but if they lose then they not only will have to pay 3 million but also lose the 4 million in security? Or is that completely wrong?

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Fowllyd

Fowllyd

Posted
Posted
Jacobs trying to avert the protest....

http://www.portsmouth.co.uk/sport/Pompey-39would-have-sunk39-without.5971386.jp

 

I see A Faraj watched the game on the internet!

 

The supporters are revolting,pardon the pun......

 

http://www.portsmouth.co.uk/marchtothepark/Pompey-fans-take-quest-for.5971169.jp

 

Once again the (possibly mythical) £40M is rolled out in the first of those articles. Which begs a very obvious question - what money of his own has Al Faraj really put into the club since October? As far as I can see a great deal of what's come in has been loans - somewhere around £17M from Chainrai, then the latest instalment which has paid December's salaries. Possibly others as well, I'm not sure. And, if the owner has dipped his hand into his own pocket so generously, why have salaries still been paid late, and required a loan even to do that? On top of that, the Premier League will use the upcoming Sky money to pay clubs still owed transfer money by Pompey - why hasn't the apparently super-rich owner done something about that?

 

It's fast become a land of pure fantasy as far as I can see - and long may it continue!

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Sylvia Saint

Sylvia Saint

Posted
Posted
As the next big date for pompey is Wednesday with their appeal again their VAT bill does anyone know how likely they are to win it?

 

Also it says here: http://www.independent.ie/sport/soccer/portsmouth-must-pay-taxman-or-face-court-1994711.html

 

Its said somewhere that they are disputing 7.5 million in VAT, that the winding up order talks of 3 million owed, and that if they win they could get 0.5 million back.

 

My assumption is that of that 7.5 million VAT they have paid 0.5 million and deposited security to the value of 4 million so that this leaving the 3 million outstanding. If they win they get 0.5 million back and their security but if they lose then they not only will have to pay 3 million but also lose the 4 million in security? Or is that completely wrong?

 

HMRC does not take security as payment of taxes. Security implies risk and HMRC does not take on risk. HMRC deals only in cold hard cash, so any talk of putting up security with HMRC is wrong. Any other punter has to take their security to a bank and realise cash and then pay HMRC with that. That's what banks do, they take the risk. It could be that this is what was meant, but it's not very clear.

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ottery st mary

ottery st mary

Posted
Posted

Pompeys security....TO HMRC

will be four players given by Jacob for the HMRC football team...

The players will be held in a FILE in a drawer( turning out for the taxman on Hackney Marshes on Sundays) and will be returned when cash is paid....Or am I getting the FILE mixed up with the Bank and Pompeys lost/ missing.. money in that sort of file.

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OldNick

OldNick

Posted
Posted (edited)
HMRC does not take security as payment of taxes. Security implies risk and HMRC does not take on risk. HMRC deals only in cold hard cash, so any talk of putting up security with HMRC is wrong. Any other punter has to take their security to a bank and realise cash and then pay HMRC with that. That's what banks do, they take the risk. It could be that this is what was meant, but it's not very clear.

......

Edited by OldNick
already dealt with above by Pedg
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Minsk

Minsk

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Roni Mana & Yuram Yossifoff are the new powerbrokers at Fratton Park.

 

Just looking for the link.

 

 

According to this (I realise it is only the NoTW) Gaydamak Snr's friends have lent the club (or rather, the holding company - whoever owns that ;)) £45m.

 

Let's say £17m of this is used to pay back the loan from another friend of his (Chainrai) that would leave exactly £28m left. Which, amazingly, is the exact amount due to be paid to Gaydamak Jnr at the end of the month.

 

Funny old game, innit!

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Minsk

Minsk

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I wonder who supplied those guns that were used against the Togo team

 

I had exactly the same thought, and was amazed that so little about this has been put on this thread.

 

I found it extremely ironic that immediately following the horrific incident that Poopey were the team mentioned on Sky News as wanting their players returned (if their safety couldn't be guaranteed).

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pedg

pedg

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According to this (I realise it is only the NoTW) Gaydamak Snr's friends have lent the club (or rather, the holding company - whoever owns that ;)) £45m.

 

Let's say £17m of this is used to pay back the loan from another friend of his (Chainrai) that would leave exactly £28m left. Which, amazingly, is the exact amount due to be paid to Gaydamak Jnr at the end of the month.

 

Funny old game, innit!

 

Actually I think its 8/9 million due at the end of this month and the rest at some other date.

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Gemmel

Gemmel

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Just when I thought our entertainment on this matter was "On hold" until the HMRC court case, Mr Jacobs comes out with this;

 

http://www.portsmouth.co.uk/sport/Chainrai-has-no-control-over.5971300.jp

 

A couple of enjoyable snippets;

 

He added: 'Mr Al Faraj sees a great opportunity for this to be one of the best and biggest community clubs in the Premier League.

 

 

'There is a huge and loyal supportive base and we need to build on that.

 

 

There have been several games this season whereby we could have sold the game twice over.

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HK_Phoey

HK_Phoey

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Just when I thought our entertainment on this matter was "On hold" until the HMRC court case, Mr Jacobs comes out with this;

 

http://www.portsmouth.co.uk/sport/Chainrai-has-no-control-over.5971300.jp

 

A couple of enjoyable snippets;

 

He added: 'Mr Al Faraj sees a great opportunity for this to be one of the best and biggest community clubs in the Premier League.

 

 

'There is a huge and loyal supportive base and we need to build on that.

 

 

There have been several games this season whereby we could have sold the game twice over.

 

 

Abraham Lincoln once said,

 

"Sometimes it is better to remain quiet and be though a fool than opens one's mouth and remove any doubt"

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