Pompey Takeover Saga

[Fowllyd]

Have they actually had their golden share removed? I was under the impression that the current old new (new old?) co has the share but that this would need to be transferred to new new co as part of the CVA deal and its that transfer that the league rules apply to?

 

I've actually no idea how the golden share thing works but was just basing my theory on the fact that they've been conditionally offered in for next season and haven't yet accepted it. Given old newco won't exist one way or the other then it's a theory that holds up logically even if not in reality :-)

 

Much as I like to picture the golden share as an actual object, made of real gold, which is handed to each club in a magnificent ceremony, it's actually just a concept - a virtual membership card, if you like. The Football League allots the golden share as it sees fit; I think, though I'm not certain, that it is withheld in the event of insolvency, but is given back to the club as and when a satisfactory conclusion to said insolvency is reached. I assume that when a club enters administration during the season the golden share is then withheld at the end of that season, allowing fixtures to be completed.

 

It may be the case that a club ends one season in administration and is still there when the next season starts. The FL may then choose to allow them to compete, though I'd guess that they'd want assurances that the club would be able to fulfil their fixtures at the very least. Presumably something like this happened the last time Pompey were in administration, as they didn't exit until after the season had started (although a CVA had been agreed, which certainly would have helped their cause).

 

The FL's current stipulations apply to new owners of Pompey, whoever that may turn out to be. Meet the conditions, you can be in the club; fail to do so and you can't. It doesn't matter here whether a new company is formed (and if Chainrai takes over it will pretty certainly be the existing company which continues, not a new one); the League's conditions apply to the football club, as this is the entity which is a member of the League.

[tony13579]

Some one email the FL and ask if they have the golden share, copy the email to some sports reporters ;-)

[Waterside.saint]

I'm thinking Birch too. With AA you more or less knew what was coming next (I.e. some hare-brained scheme or other) but there's more of a surprise element with Birch as he has a veneer of normality about him, ergo it's much more entertaining when he comes up with something ludicrous.

 

I fixed it for you

Plus Birch is like the 'straight' man in their double act, which I always find more amusing than the ostentatious caperings of the 'funny' man (AA)

Edited 31 July, 2012 by Waterside.saint

[Saint Thomas]

Man, this stuff is confusing...

 

Comparing the running a web forum to being in the style of the Third Reich (also known as a "simile") - not ok

Accusing someone (deceased) / his father of actually being a Nazi - totally fine

 

Did I get that right?

 

They're both wrong. People who compare every minor wrong to Hitler are worse than Dracula.

[Lazlo78]

I've actually no idea how the golden share thing works but was just basing my theory on the fact that they've been conditionally offered in for next season and haven't yet accepted it. Given old newco won't exist one way or the other then it's a theory that holds up logically even if not in reality :-)

 

You're playing a dangerous game there using concepts such as 'logic' and 'reality'. TIODM is an alternate reality where logic is defied on a daily basis

[Torres]

So they've managed to get some of the high earners "off the books" and the club is now saved, I read. Hmmmm.

 

Other than Leeds having paid off Pompey's outstanding debts to Derby, all that really seems to have happened is that they've managed to slow the rate at which the debts to football creditors is growing. Sure, they've don't have to pay Norris/Huseklepp/Varney next week's wages but how much of the deffered wages from the past 6 months have those guys given up? Any? Or have they simply agreed to Pompey repaying them over the next 2 years?

 

Doesn't seem that a huge amount has changed. Anything owed to these guys will be classed as football debts and the FL will insist it's paid under the FCR. However much the tribunal decide "King" Kanu is owed will be a football debt and the FL will insist it's paid under the FCR. However much they still have to pay Liam "Ticket Office Manager" Lawrence and Nutjob Hero Tal Ben Haim will be classed as football debt and the FL will insist it's paid under the FCR.

 

The FL will demand clarification of all these deals and will know exactly what has been agreed with whom and how much they are owed. A large chunk of the parachute payments will still be directed straight to the football creditors before it even touches the PFC books (like they keep any, lol) and before Chinny has the chance to trouser it for himself.

 

So the question still stands from a few ago, despite all this "good news" from Trevor - do the sums still add up for Chinny's bid?

 

I suspect the answer is yes, but only just, and is that enough?

Edited 31 July, 2012 by Torres

[Torres]

The equations haven't changed at all. What works out best for Chinny?

 

Option 1 - He buys them.

 

He gets: Parachute Payments (£14m) - Football Creditors (£5m?) -

Purchase Price (£500k) - Running Costs for 2 years (???)

 

plus he has to reduce his charge on all PFC assets(!) to a level decided by the FL which will probably be far closer to what those assets(!) are actually worth than the £17m he reckons.

 

Option 2 - He buys them and sells "the club" minus Fratton Park to the trust

 

He gets: Enough "rent" over the next few years to satisfy his lust for money. In return, the club/trust get all the PPs, from which they must pay the FCs and run the club, plus pay Chinny what he's already owed and the £500k+interest for his purchase.

 

Option 3 - The trust buy them

 

If, as GM has claimed, the trust have £700k then they can match Chinnys £500k offer and pay the creditors the same root of f-all. The trust are then the new "owners" but Chinny still has his charge on all assets - if he's not the new owner, can the FL insist on a reduction of his security? - and he hits them up for payment of that. Maybe he plays nice and lets them pay him back at £2m p/a. The trust now get the PPs but have to run the club and pay off the FCs as well as paying Chinny. That £14m isn't going to last long.

 

Option 4 - Liquidate

 

Chinny gets: Everything that doesn't breathe once sold, after Trevor gets his payment. He doesn't get any PPs but then he doesn't have to pay any FCs and doesn't have to run a football club. Trevor has done everything he can to save the club, Chinny has done everything he can to save the club, the Trust have done everything they can, so have the council, and the MPs, and the plucky heroes who have already given up millions(!) but a couple of pantomime villains ("King" Kanu and TBH) have stuck the knife in and nobody can save them. It's too late to reform this year and Fratton will fall into disrepair (stop giggling at the back) over the next year so there's no way the phoenix club can play there in 13/14. Rather than leave it derelict, the council agree it can be developed into retail and/or housing. Should the economy pick up over the next couple of years (as predicted by the Treasury) how much will all that land be worth in 2014? Whatever it is, that's what Chinny gets, and that seems to get him a greater return than option 1, 2 or 3. But can he wait another 2 years before getting a penny back?

[lifeintheslowlane]

It's amazing how quickly the reviled can be rehabilitated down the M271...the blood-sucking leeches of last week become the heroes of this due to the noble act of being transferred. If Chinny stumps up the cash I can already hear the Blue Few singing his name. The second (or third) coming will be even more hilarious that the ones before.

[angelman]

Not sure Option 3 is a goer. They may have the matching of Chin and his offer, but paying football creditors in full will be somewhat of a stumbling block, given that they will have £200k to cover millions.

[Chin Strain]

The equations haven't changed at all. What works out best for Chinny?

 

Option 1 - He buys them.

 

He gets: Parachute Payments (£14m) - Football Creditors (£5m?) -

Purchase Price (£500k) - Running Costs for 2 years (???)

 

plus he has to reduce his charge on all PFC assets(!) to a level decided by the FL which will probably be far closer to what those assets(!) are actually worth than the £17m he reckons.

 

Option 2 - He buys them and sells "the club" minus Fratton Park to the trust

 

He gets: Enough "rent" over the next few years to satisfy his lust for money. In return, the club/trust get all the PPs, from which they must pay the FCs and run the club, plus pay Chinny what he's already owed and the £500k+interest for his purchase.

 

Option 3 - The trust buy them

 

If, as GM has claimed, the trust have £700k then they can match Chinnys £500k offer and pay the creditors the same root of f-all. The trust are then the new "owners" but Chinny still has his charge on all assets - if he's not the new owner, can the FL insist on a reduction of his security? - and he hits them up for payment of that. Maybe he plays nice and lets them pay him back at £2m p/a. The trust now get the PPs but have to run the club and pay off the FCs as well as paying Chinny. That £14m isn't going to last long.

 

Option 4 - Liquidate

 

Chinny gets: Everything that doesn't breathe once sold, after Trevor gets his payment. He doesn't get any PPs but then he doesn't have to pay any FCs and doesn't have to run a football club. Trevor has done everything he can to save the club, Chinny has done everything he can to save the club, the Trust have done everything they can, so have the council, and the MPs, and the plucky heroes who have already given up millions(!) but a couple of pantomime villains ("King" Kanu and TBH) have stuck the knife in and nobody can save them. It's too late to reform this year and Fratton will fall into disrepair (stop giggling at the back) over the next year so there's no way the phoenix club can play there in 13/14. Rather than leave it derelict, the council agree it can be developed into retail and/or housing. Should the economy pick up over the next couple of years (as predicted by the Treasury) how much will all that land be worth in 2014? Whatever it is, that's what Chinny gets, and that seems to get him a greater return than option 1, 2 or 3. But can he wait another 2 years before getting a penny back?

 

Without a doubt Chinny will be trying to go down the option 1 route. But, to do that he needs all the high earners gone. The club will be run within it's own means (i.e. income, not including PPs). Presumably there's nothing to stop Chinny hoovering up the PPs, as owner of the FC. If so, he gets, say, £9m of his 'debt' repaid, then either sells the ground and club to the Trust to recoup as much as possible of thew remaining debt, or keeps the ground and sells the club, leasing the ground to the new owners.

 

If he can clear £9m or £10m from PPs then it's not such a big issue of he can only carry forward £5m as secured debt to the new company. The question for the FL is whether Chinnys plan is to actually ever pay the football creditors. If, as seems to be the case, the players have agreed to deferrals to be paid over 4 years, what's to stop Chinny taking the PPs and liquidating the club prior to the first payment ever being made? After all, it's not like they haven't got history on that front with the last CVA....

 

Option 4 could yet happen depending on how the PPs are distributed, how many strings the FL attach to the golden share (i.e. how they enforce their conditions), whether TBH, LL and DK actually leave and, of course, the outcome (or likely outcome) of the Kanu case.

Edited 31 July, 2012 by Chin Strain

[OldNick]

Just a quick question.

 

What was the prize for winning the sweepstake again?

 

Seem to recall I was the only one who said they'd be kicking off the new season in the FL1.......

 

Sorry mate but you are re-writing history there, you have said toast more times than they did on that record in the 70's lol

[Torres]

Not sure Option 3 is a goer. They may have the matching of Chin and his offer, but paying football creditors in full will be somewhat of a stumbling block, given that they will have £200k to cover millions.

 

I'm assuming that the Trust jump into bed with Chinny and he lets them buy the club in return for a committment to pay him a lovely lot of rent for FP, and that the FCs are paid over time from PPs.

[pedg]

Without a doubt Chinny will be trying to go down the option 1 route. But, to do that he needs all the high earners gone. The club will be run within it's own means (i.e. income, not including PPs). Presumably there's nothing to stop Chinny hoovering up the PPs, as owner of the FC. If so, he gets, say, £9m of his 'debt' repaid, then either sells the ground and club to the Trust to recoup as much as possible of thew remaining debt, or keeps the ground and sells the club, leasing the ground to the new owners.

 

If he can clear £9m or £10m from PPs then it's not such a big issue of he can only carry forward £5m as secured debt to the new company. The question for the FL is whether Chinnys plan is to actually ever pay the football creditors. If, as seems to be the case, the players have agreed to deferrals to be paid over 4 years, what's to stop Chinny taking the PPs and liquidating the club prior to the first payment ever being made? After all, it's not like they haven't got history on that front with the last CVA....

 

Option 4 could yet happen depending on how the PPs are distributed, how many strings the FL attach to the golden share (i.e. how they enforce their conditions), whether TBH, LL and DK actually leave and, of course, the outcome (or likely outcome) of the Kanu case.

 

I believe there is some sort of control on what the parachute payments get used for but the counter argument to that is that all other income could go to chinny leaving the parachute payments to cover all the costs. The question then what is the total the club will receive from all other sources and does it come close to the parachute payment money.

[angelman]

Problem with Option 1 is the squad. They have 3 senior players, and how many others? They are showing 5 on their www http://www.portsmouthfc.co.uk/first-team.aspx of which they are hoping to shift 3 of them. So let's say that they have 2 players. They will need to sign another, say, 15 players in the next 2 weeks or maybe 2.5 weeks if they surrender their participation of the Capital One Cup.

 

I am not sure how easy that is going to be. On the one hand, their will be journey men who are desperate and youngsters who are wanting a break, but on the other hand, would you sign for them if you thought that you might not get paid? That is, if FL let you sign players.

 

So, as far as I can see things, the way it is going to work....off load 3 players earning the most, then Chin will step in, pay of the FCers to keep FL happy and start to get in 15 players. There will be some loan players (never remember how many can play at any one time - is it 5?), freebies, etc etc. Problem with freebies is that they often get a better wage as there is no transfer fee. Not sure whether there is a signing on fee. Judging by the response from some of the trialists, things aren't going to be that easy.

 

If I am honest, if they manage to assemble a squad and make the first league game, I will be impressed, although I suspect that they will. But every day that this intransigence carries on, is a day less to get a squad together.

[rallyboy]

£14M to come sounds great, but Birch said a while back that they were down to the last £4M-£7M when you take into account the football creditors.

He has increased that debt since, so I'm not sure there will be a great deal to fight over soon.

 

 

 

As they have lived comfortably in debt for years, their main problem now must be time.

They can delay creditors, and defer wages and transfer fees - but they can't defer the season kicking off.

 

Let's put the whole ownership issue aside and assume that they still intend to enter League One next season...

They have less than three weeks to convince the authorities that they are solvent and can complete a season, even though Birch has proclaimed from the rooftops that it is unlikely that they can.

In the same timeframe, if allowed, they have to source players.

 

This could be difficult because its only the runt of the litter that is still homeless in August.

Though I'm sure any players desperate to work for free because their career is in terminal decline post-armed robbery/rape-conviction, will be re-packaged for the few as proven target man captured from under the nose of Chelsea and Man City.

 

Let's have a massive leap of faith and assume that UnAppy does have quality players up his sleeve and they do start the season.

He'll have to convince them to work for low wages, perhaps he'll have to take a risk on a few non-league youngsters to meet his budget, either way he has NO time to sort a team - and we saw how good his judgement was on who won the competition to go on a free holiday with him.

 

The squad will be threadbare, and as we know, the games come thick and fast and every fecker wants to turn you over.

Come December they'll only have half a bench for two games a week, and I reckon they'll still be trading at a loss.

 

So whatever Chinny or the Trust does, unless they can pump some new money in, they MUST be heading for a proper struggle, and we know how that fickle fanbase love abandoning ship when the going gets tough.

 

'Difficult' season, poor gates, fatty pipes, those deferred debts looming...

 

Business as usual - same ****, different division.

[trousers]

@pn_neil_allen: Halford: I didn't want to jeopardise the future of #Pompey http://t.co/DUd6VyNM

 

he effectively wrote off the final two years of his contract, which was worth around £1.5m if he had seen out the duration – and without receiving a penny in compensation.

 

Instead, the deferrals Halford has taken since April will be paid back over the next four years.

 

To be hounded out of £1.5m (which was rightfully his) is a scandal. Are you watching Football League? Does this sit comfortably with the aims of your much cherished Football Creditor laws? And are you watching Gordon Taylor...? How can you stand by and let one of your members give up £1.5m because they were hounded to do so?

 

Is there any more shame left to be squeezed out of that club?

Edited 31 July, 2012 by trousers

[biondani]

That would be the '7 figure sum' then!

 

The 7th digit must be the £ symbol

 

 

Sent from my iPad using Tapatalk HD

[Chin Strain]

£14M to come sounds great, but Birch said a while back that they were down to the last £4M-£7M when you take into account the football creditors.

He has increased that debt since, so I'm not sure there will be a great deal to fight over soon.

 

 

 

As they have lived comfortably in debt for years, their main problem now must be time.

They can delay creditors, and defer wages and transfer fees - but they can't defer the season kicking off.

 

Let's put the whole ownership issue aside and assume that they still intend to enter League One next season...

They have less than three weeks to convince the authorities that they are solvent and can complete a season, even though Birch has proclaimed from the rooftops that it is unlikely that they can.

In the same timeframe, if allowed, they have to source players.

 

This could be difficult because its only the runt of the litter that is still homeless in August.

Though I'm sure any players desperate to work for free because their career is in terminal decline post-armed robbery/rape-conviction, will be re-packaged for the few as proven target man captured from under the nose of Chelsea and Man City.

 

Let's have a massive leap of faith and assume that UnAppy does have quality players up his sleeve and they do start the season.

He'll have to convince them to work for low wages, perhaps he'll have to take a risk on a few non-league youngsters to meet his budget, either way he has NO time to sort a team - and we saw how good his judgement was on who won the competition to go on a free holiday with him.

 

The squad will be threadbare, and as we know, the games come thick and fast and every fecker wants to turn you over.

Come December they'll only have half a bench for two games a week, and I reckon they'll still be trading at a loss.

 

So whatever Chinny or the Trust does, unless they can pump some new money in, they MUST be heading for a proper struggle, and we know how that fickle fanbase love abandoning ship when the going gets tough.

 

'Difficult' season, poor gates, fatty pipes, those deferred debts looming...

 

Business as usual - same ****, different division.

 

Chinny's not fussed about being competitive though (albeit Appy probably is). There will always be a string of players willing to play for them.....whether they'll be any good is another matter. He'll pull in 5 loanees via Appys contacts and fill the rest of the squad with their youth team players. The odd donkey dross who's not been picked up (because he's useless) will add to the ranks. Assume their income will be £100k a week over the whole year, including gate money and tv money (other than the PPs). Assume again (rashly) that wages will be no more than 60% at most....they'll be looking to fund their whole squad, managerial / coaching staff, board etc on £60k a week. Not quite the budget they've been used to.

Edited 31 July, 2012 by Chin Strain

[trousers]

Sorry mate but you are re-writing history there, you have said toast more times than they did on that record in the 70's lol

 

Mr Phil isn't denying that...he's merely pointing out he chose 'carry on regardless' in the 'guess the liquidation date' competition :-)

[pedg]

Mr Phil isn't denying that...he's merely pointing out he chose 'carry on regardless' in the 'guess the liquidation date' competition :-)

 

I thought it was just that he was so indecisive about picking a date?

[trousers]

I believe there is some sort of control on what the parachute payments get used for but the counter argument to that is that all other income could go to chinny leaving the parachute payments to cover all the costs. The question then what is the total the club will receive from all other sources and does it come close to the parachute payment money.

 

Isn't the conundrum here that the PPs were designed to help clubs pay high premier league bills (such as player contracts) when they fall into a lower revenue generating league.

 

However, with Pompey's potential 'new' owner insisting that all the high earners are removed from the wage bill before he takes ownership doesn't that LOGICALLY remove the requirement for PPs?

 

I'm guessing the Premier League's PP rules aren't flexible in that they will dish out the payments whether the recipient club has any high wage earners left on their books or not.

 

All of which makes the PPs a somewhat arbitrary and blanket solution in the first place.

[trousers]

I thought it was just that he was so indecisive about picking a date?

 

Nah...the SWF Hansard does show that he explicitly chose the 'no date' option. :-)

[trousers]

Problem with Option 1 is the squad. They have 3 senior players, and how many others? They are showing 5 on their www http://www.portsmouthfc.co.uk/first-team.aspx of which they are hoping to shift 3 of them. So let's say that they have 2 players. They will need to sign another, say, 15 players in the next 2 weeks or maybe 2.5 weeks if they surrender their participation of the Capital One Cup.

 

I am not sure how easy that is going to be. On the one hand, their will be journey men who are desperate and youngsters who are wanting a break, but on the other hand, would you sign for them if you thought that you might not get paid? That is, if FL let you sign players.

 

So, as far as I can see things, the way it is going to work....off load 3 players earning the most, then Chin will step in, pay of the FCers to keep FL happy and start to get in 15 players. There will be some loan players (never remember how many can play at any one time - is it 5?), freebies, etc etc. Problem with freebies is that they often get a better wage as there is no transfer fee. Not sure whether there is a signing on fee. Judging by the response from some of the trialists, things aren't going to be that easy.

 

If I am honest, if they manage to assemble a squad and make the first league game, I will be impressed, although I suspect that they will. But every day that this intransigence carries on, is a day less to get a squad together.

 

Don't forget Appy told us a few weeks ago that he's got "18" players lined up who are all "desperate" to join Pompey as soon as the embargo is lifted...

 

(chortle)

[Chin Strain]

Don't forget Appy told us a few weeks ago that he's got "18" players lined up who are all "desperate" to join Pompey as soon as the embargo is lifted...

 

(chortle)

 

*sn igger*

[Waterside.saint]

Don't forget Appy told us a few weeks ago that he's got "18" players lined up who are all "desperate" to join Pompey as soon as the embargo is lifted...

 

(chortle)

 

*sn igger*

 

All those P*mpey Dreamers biting their nails as they sit by the phone waiting to learn their P*mpey Fates (TM & Copyright Neil Allen)

Edited 31 July, 2012 by Waterside.saint

[Chin Strain]

@pn_neil_allen: Halford: I didn't want to jeopardise the future of #Pompey http://t.co/DUd6VyNM

 

 

 

To be hounded out of £1.5m (which was rightfully his) is a scandal. Are you watching Football League? Does this sit comfortably with the aims of your much cherished Football Creditor laws? And are you watching Gordon Taylor...? How can you stand by and let one of your members give up £1.5m because they were hounded to do so?

 

Is there any more shame left to be squeezed out of that club?

 

The question though is whether he has moved to Forest for the same wages that he was on at Pompey. If not, the norm (as I understand it) is that the selling club pay up the difference between old and new contract. As he didn't ask for a transfer he would also normally get a bonus from the selling club, which I guess he's not going to give up.

 

If he's on the same or better wages then he's no worse off, so isn't out of pocket at all *****il the club folds in 2 years before his deferrals are paid).

 

With DK and TBH, they're stuffed as they will never get the same wages as they're on now. They really can't afford to rip up their contracts.

[Torres]

@pn_neil_allen: Halford: I didn't want to jeopardise the future of #Pompey http://t.co/DUd6VyNM

 

he effectively wrote off the final two years of his contract, which was worth around £1.5m if he had seen out the duration – and without receiving a penny in compensation.

 

Instead, the deferrals Halford has taken since April will be paid back over the next four years.

 

 

To be hounded out of £1.5m (which was rightfully his) is a scandal. Are you watching Football League? Does this sit comfortably with the aims of your much cherished Football Creditor laws? And are you watching Gordon Taylor...? How can you stand by and let one of your members give up £1.5m because they were hounded to do so?

 

Is there any more shame left to be squeezed out of that club?

 

All he given up is the difference between what he would have been paid by Pompey and what he's now going to be paid by Forest. That kind of thing does happen when players move clubs but they normally will get a least some of the difference paid up. He's not given up anywhere near £1.5m, but it makes a good story for Pompey Pravda.

 

It's interesting that he hasn't given up anything that he was already owed at the time of leaving though, merely deffered it over 4 years and lodged himself securely as a football creditor. This means that he will now be paid from PPs, or from PFC organic revenue, or not paid at all at some point in the future, at which point PFC will be subject to a transfer embargo once again.

 

All he's really done is saddled PFC with yet more debt and then run away to somewhere he can't be so easily pressured into making any more sacrifice to keep them going. Nobody reads Neil Allen's vomit in Nottingham and the "Save Pompey 10" aren't going to drive to the Forest training ground to plead with him in 2 years time.

 

 

Isn't the conundrum here that the PPs were designed to help clubs pay high premier league bills (such as player contracts) when they fall into a lower revenue generating league.

 

However, with Pompey's potential 'new' owner insisting that all the high earners are removed from the wage bill before he takes ownership doesn't that LOGICALLY remove the requirement for PPs?

 

I'm guessing the Premier League's PP rules aren't flexible in that they will dish out the payments whether the recipient club has any high wage earners left on their books or not.

 

All of which makes the PPs a somewhat arbitrary and blanket solution in the first place.

 

It does take the **** somewhat, but that's what Pompey do best.

Edited 31 July, 2012 by Torres

[alpine_saint]

@pn_neil_allen: Halford: I didn't want to jeopardise the future of #Pompey http://t.co/DUd6VyNM

 

 

 

To be hounded out of £1.5m (which was rightfully his) is a scandal. Are you watching Football League? Does this sit comfortably with the aims of your much cherished Football Creditor laws? And are you watching Gordon Taylor...? How can you stand by and let one of your members give up £1.5m because they were hounded to do so?

 

Is there any more shame left to be squeezed out of that club?

 

This. They are running a mockery of the spirit and rules of the game.

 

The PFA and FL should be utterly ashamed of their complicity.

[trousers]

The question though is whether he has moved to Forest for the same wages that he was on at Pompey. If not, the norm (as I understand it) is that the selling club pay up the difference between old and new contract. As he didn't ask for a transfer he would also normally get a bonus from the selling club, which I guess he's not going to give up.

 

If he's on the same or better wages then he's no worse off, so isn't out of pocket at all *****il the club folds in 2 years before his deferrals are paid).

 

With DK and TBH, they're stuffed as they will never get the same wages as they're on now. They really can't afford to rip up their contracts.

 

So, in other words, when Allen proclaims that "zero to hero" Halford has "written off £1.5m" he's writing it in a way that will appeal to the fickle Pompey fans. That figures.

[Torres]

Surprise suprise, eh trousers?

 

They've gone from plucky heroes doing everything they can to save the club to greedy scumbags intent on killing the club and back to plucky heroes again, all in the space of 3 months and all without actually doing anything.

 

Even though it's nauseating drivel, it is very entertaining. Maybe Neil Allen has missed his vocation in comedy scripting.

Edited 31 July, 2012 by Torres

[trousers]

Surprise suprise, eh trousers?

 

So much so I'm half expecting Cilla Black and Bob Carolgees to make a last gasp bid for the club. Not that we haven't had a lorra lorra laffs already...

[Waterside.saint]

Surprise suprise, eh trousers?

 

They've gone from plucky heroes doing everything they can to save the club to greedy scumbags intent on killing the club and back to plucky heroes again, all in the space of 3 months and all without actually doing anything.

 

Even though it's nauseating drivel, it is very entertaining. Maybe Neil Allen has missed his vocation in comedy scripting.

 

So much so I'm half expecting Cilla Black and Bob Carolgees to make a last gasp bid for the club. Not that we haven't had a lorra lorra laffs already...

 

Hey. Its what they do

[Saint in Paradise]

If those players that leave are really going to be so stupid as to lose all that money

I can sell them a bridge in London cheap. They can then quickly re-sell it at a profit

win - win

[Weston Super Saint]

So, in other words, when Allen proclaims that "zero to hero" Halford has "written off £1.5m" he's writing it in a way that will appeal to the fickle Pompey fans. That figures.

 

Indeed.

 

His target market is the knuckle dragging Pompey goon with half a brain cell.

 

I'm quite surprised you fell for it Trousers as you seem to be at least a little more intelligent than the average Pompey fickle fan most of the time

[dubai_phil]

Sorry mate but you are re-writing history there, you have said toast more times than they did on that record in the 70's lol

 

Mr Phil isn't denying that...he's merely pointing out he chose 'carry on regardless' in the 'guess the liquidation date' competition :-)

 

Totally.

 

It wasn't that I didn't pick a date; I simply said I believe that they will start the season.

 

IMHO the date in the sweepstake for me will still be (I'd guess) 3/6 months after CHinny has raped the last possible ounce of cash out of the Trust & the match day receipts & PP's of course. I fully expect a decent (OK for that read dodgy) lawyer to find a loophole in the FL's wording of the carry debt forward, most likely the millstone of renting nottarf.

 

I mentioned at the time I felt the most likely course of action (esp with the FL ruling) is that CHinny saves the club by renting nottarf to the PST at a rent that gets all his cash due PLUS 20% interest back in about 5 years if he has PP's or 10 without.

 

As others have said in more clear terms - the agony should continue and we'll keep needing new keyboards. 5 more years of humiliation and then death.

 

At which point some bright spark down there will realise...

 

IF ONLY we had just gone bust and formed a pheonix club 5 years ago..........

 

It's still toast. But as most freezers only allow a shelf life of 3 months, I've simply decided to have a punt on wheat futures - after all Dune has taught us to be careful & capitalist and with a drought in the US, speculation on food prices, I could make a killing by owning the Wheat or Flour supply to Bakeries in the South in 18 months time.

 

 

But then I could equally be wrong. THAT's the fun of this thread!

[Lazlo78]

This. They are running a mockery of the spirit and rules of the game.

 

The PFA and FL should be utterly ashamed of their complicity.

 

Isn't the problem the wording of the FL's stipulation?

 

3. Pay all football creditors in full, unless mutually acceptable compromise agreements are put in place.

 

Obviously they didn't want a situation where their rules prevented sensible agreements, so thay had to add that line to the "pay what you owe" condition. As when bargaining with bottle genies and other riddlers, the FL should have been more careful and added more stopgaps:

 

3. Pay all football creditors in full, unless mutually acceptable compromise agreements not achieved through public vilification and simple bullying tactics are put in place.

 

Edit: obviously I forgot to add a clause about promising future payments that Chinny never intends to honour...

Edited 31 July, 2012 by Lazlo78

[trousers]

Indeed.

 

His target market is the knuckle dragging Pompey goon with half a brain cell.

 

I'm quite surprised you fell for it Trousers as you seem to be at least a little more intelligent than the average Pompey fickle fan most of the time

 

Hands up, guilty as charged m'lud :-)

 

The trouble with this takeover saga malarkey is that it's often impossible to separate reallity from make-believe.

 

I hereby offer an apology for my schoolboy error and hope my fellow nutjobs can forgive my momentary lapse of reason....

 

:-)

Edited 31 July, 2012 by trousers

[trousers]

Totally.

 

It wasn't that I didn't pick a date; I simply said I believe that they will start the season.

 

IMHO the date in the sweepstake for me will still be (I'd guess) 3/6 months after CHinny has raped the last possible ounce of cash out of the Trust & the match day receipts & PP's of course. I fully expect a decent (OK for that read dodgy) lawyer to find a loophole in the FL's wording of the carry debt forward, most likely the millstone of renting nottarf.

 

I mentioned at the time I felt the most likely course of action (esp with the FL ruling) is that CHinny saves the club by renting nottarf to the PST at a rent that gets all his cash due PLUS 20% interest back in about 5 years if he has PP's or 10 without.

 

As others have said in more clear terms - the agony should continue and we'll keep needing new keyboards. 5 more years of humiliation and then death.

 

At which point some bright spark down there will realise...

 

IF ONLY we had just gone bust and formed a pheonix club 5 years ago..........

 

It's still toast. But as most freezers only allow a shelf life of 3 months, I've simply decided to have a punt on wheat futures - after all Dune has taught us to be careful & capitalist and with a drought in the US, speculation on food prices, I could make a killing by owning the Wheat or Flour supply to Bakeries in the South in 18 months time.

 

 

But then I could equally be wrong. THAT's the fun of this thread!

 

As you know, I do like a good analogy and that's up there with the best :-)

[alpine_saint]

Isn't the problem the wording of the FL's stipulation?

 

3. Pay all football creditors in full, unless mutually acceptable compromise agreements are put in place.

 

Obviously they didn't want a situation where their rules prevented sensible agreements, so thay had to add that line to the "pay what you owe" condition. As when bargaining with bottle genies and other riddlers, the FL should have been more careful and added more stopgaps:

 

3. Pay all football creditors in full, unless mutually acceptable compromise agreements not achieved through public vilification and simple bullying tactics are put in place.

 

Edit: obviously I forgot to add a clause about promising future payments that Chinny never intends to honour...

 

Well, the FL must be deliberately leaving things nebulous because a team with such a high profile as DFCSB FC going out of business is a serious negative image issue. In my book the shennanigans underway simply violate the spirit of the measures that were handed out and are detrimental to the image of the game, which should be enough for the FL to take action, but they are either scared or impotent. They also seem to be sticking their head in the ground about the probability of us all being back here again in 18months, with more people diddled of their livelihood.

 

The PFA's lack of presence here is a more serious issue; in my eyes they are completely failing some of their members.

[trousers]

And, bang on cue....

 

@pn_neil_allen: RT @IanDarkeESPN: Greg Halford attitude fantastic in basically writing off last 2 years of Pompey deal to help club survive. Refreshing and selfless

 

Carlsberg don't do media love-ins, but if they did...

[The9]

Pompeyscotts meltdown is brilliant ! As is Dinos ! Superb.

 

Anyone would think they were about to lose their football club or something.

[rallyboy]

POMPEY joint-administrator Bryan Jackson believes there is no reason why the club cannot be owned by the fans.

He has been working behind the scenes while partner Trevor Birch works round the clock to secure the club’s future.

Talking to The News, Mr Jackson revealed Pompey’s situation is ‘still critical’, adding the contracts of the three remaining players were ‘sticky’.

 

Anyone who references the clock and the fatty pipes in a press interview is just winning a bet with one of their mates!

 

 

‘We’re not against them, we are trying to compromise and it’s about getting them to believe that if we close down they won’t get a penny.

 

Yes mate, it's about misleading them!

[Waterside.saint]

Well, the FL must be deliberately leaving things nebulous because a team with such a high profile as DFCSB FC going out of business is a serious negative image issue. In my book the shennanigans underway simply violate the spirit of the measures that were handed out and are detrimental to the image of the game, which should be enough for the FL to take action, but they are either scared or impotent. They also seem to be sticking their head in the ground about the probability of us all being back here again in 18months, with more people diddled of their livelihood.

 

The PFA's lack of presence here is a more serious issue; in my eyes they are completely failing some of their members.

 

One imagines that there must be raised voices within the FL arguing that they should be made an example of pour encourager les autres.

Presumably those sentiments are currently being moderated by a wish to avoid more unpleasantness, but presumably also there has to be a 'last straw' point

[Waterside.saint]

And, bang on cue....

 

@pn_neil_allen: RT @IanDarkeESPN: Greg Halford attitude fantastic in basically writing off last 2 years of Pompey deal to help club survive. Refreshing and selfless

 

Carlsberg don't do media love-ins, but if they did...

 

Genuine finger-down-throat moment. I actually had a bit of sick in my mouth there

[alpine_saint]

POMPEY joint-administrator Bryan Jackson believes there is no reason why the club cannot be owned by the fans.

He has been working behind the scenes while partner Trevor Birch works round the clock to secure the club’s future.

Talking to The News, Mr Jackson revealed Pompey’s situation is ‘still critical’, adding the contracts of the three remaining players were ‘sticky’.

 

Anyone who references the clock and the fatty pipes in a press interview is just winning a bet with one of their mates!

 

 

‘We’re not against them, we are trying to compromise and it’s about getting them to believe that if we close down they won’t get a penny.

 

Yes mate, it's about misleading them!

 

Lovely bully-boy tactics. And where is Gordon Taylor whilst this is going on ?

[Torres]

No need to get so angry Alps, the players haven't been bullied into giving up much, if anything. Indeed, I'd argue they're in a better place to hammer nails into the coffin should the time come by being away from the place.

 

Edit - We don't know how much Halford, for example, is on at Forest but given that they paid virtually nothing for him he's probably not that far down on his Pompey wage. He's certainly getting more every month now than Pompey were actually paying him.

 

Plus, I think's it pretty safe to say that the PFA and the player agents are doing the right thing and giving the players the facts of the situation and sound advice in private rather than empty threats via the local media.

[trousers]

@MajorRaverMatt: When you look at #pompey legends, you look at Dickinson, Knight, Primus, Whittingham, you can add Greg Halford to that list 4try to save us.

[sfc1976]

Good grief. Sometimes there just isn't enough vomit in the world...

[Torres]

It's so funny how they lap it all up like the simpletons they are...

[Lazlo78]

...

Edited 31 July, 2012 by Lazlo78
Double post :-/