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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Lazlo78

Lazlo78

Posted
Posted
@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.

 

I think people in here have a rather different take on the concept of "pompey legends" - very few of them have ever played football ;)

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Fowllyd

Fowllyd

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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...

 

Prepare for Spit the Dog to be installed as the new manager, with Cough the Cat as head coach. Bit of a shame for poor old UnAppy and his bestest mate, but when there are candidates of that quality available it really is a no-brainer.

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Gemmel

Gemmel

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http://www.portsmouth.co.uk/sport/pompey/pompey-past/jackson-sees-a-future-for-fans-ownership-at-pompey-1-4111781

 

The trust is having problems with trying to generate enough cash to satisfy everyone, but I have always believed fans’ participation is possible

 

That might be a problem then :scared:

 

Participation and not ownership?

 

To satisfy all parties, that must include Chainrai..... So they will know what he is prepared to walk for??

 

On the subject on "struggling to raise enough cash" am I right in thinking that for every day that PKF stay as administrators, that's another 2 pledges the trust need to cover their fees? (And that's without converting them)

 

The headline suggests it's all very positive for the trust, but the only elements from the actual article of any consequence, suggest the opposite. The "news" seem to be quite good at this.

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EastleighSoulBoy

EastleighSoulBoy

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£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.:scared:

 

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.

 

Brilliant, as we have come to expect.

 

That's one small step for DFCSBs, one giant leap toward CVA 3.

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dubai_phil

dubai_phil

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With the truly inspiring news that Mr Halford has taken one for the team, I just want to get on record that it now looks nailed on that come next April those with a gambling persuasion could do no worse than to stake their mortgages on the winners of "Stand Out Achievement in Football Award" at the Annual FL awards dinner.

 

Yes, it will of course be none other than the fantastic 10 (or was it 7) who BRAVELY faced certain death from TBH's Range Rover as they BATTLED against ALL THE ODDS to hand out their LOVINGLY crafted Letters IMPLORING the players to save the TEAM THEY ALL LOVED.

 

Yes I give you the Fantastic phew all 7 of them (or was it 4?)

 

True Community Heroes

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dubai_phil

dubai_phil

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Posted

 

Simon Gillett has cut short his Fratton stay to train with Nottingham Forest.Others could follow, including Brian Howard, who had initially given a deadline of tomorrow for a move to be completed by.

But Dumbuya fully intends to bide his time and join the Blues.

 

 

 

For those not fluent in PR speak

 

I'm still looking at my options to further my career but I'm actually so useless that not even a BSQ club has come in with an offer of any kind, so at the moment it seems the only hope I have of getting ANY time playing football next season is to hang around here and hope that they can find a way to give me some kind of salary

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Verbal

Verbal

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Posted
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...

 

Even with all the ambiguity, I still think the loopholes aren't big enough to allow the club to stumble through a season. They could have gone some distance into the season in administration, but Birch has set the 10 August deadline. This is different to his other 'cry wolf' deadlines, in that they were about funds running out. This one is about ownership. The football creditors still add up to a substantial bill, and new the new conditions re much less ambiguous when it comes to what Chainrai would have to give up if he were to bid.

 

Liquidation is weeks away at most.

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TopGun

TopGun

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Posted (edited)

I guess the staff who got redundancy warnings two weeks ago have to be told what the score is about now legally.

 

Either way, the issues about LL, Kitson, Kanu, TBH etc are pretty irrelevant now. They just about survive for the moment or they go pants up quickly. Not many days, many current debts, no players, no money, no trading facilities.

 

Birch is clearly hanging it out in desperation as much for his own record as anything else. If he can somehow get Chinny to do the deal, PKF can walk away stating that they stopped a liquidation and moved the company on. Only minor blemishes. But it doesn't help Pompey.

Edited by TopGun
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The9

The9

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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.

 

There's not usually any problem with clubs continuing to compete, the golden share is held by the old club and they're allowed to be in admin for (I think) 18 months, so they could actually go through 2 pre-seasons in admin without this being a problem. It's only when ownership changes via administration that the golden share becomes a factor.

 

The issue here is that if the Skate 2010 club don't get bought out they will cease to exist before the season starts, and Skate 2012s will not have a league to play in unless they meet the League's criteria for the golden share.

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COMEONYOUREDS

COMEONYOUREDS

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He's alright actually, though he does have a bit of a persecution complex. Probably comes from being a Rangers and Skates fan.

 

LOL. what a great combination, lucky guy

 

Although anyone running a messageboard who feels he has to hand pick and delete posts just because they dont go down the route of discussion he would like them to, is a bit odd. He's got some sort of sense of elevated self-importance as the 'owner' of POL

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The9

The9

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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.

 

This is where you are incorrect. They are not high profile, they're now a League One side who nobody cares about any more. The FL is dealing with them as they have dealt with every basket case since 2001, except if anything the threatened controls over spending for the next 5 years are above and beyond, and only suggested due to their previous misdemeanours.

 

I'm not sure what more you expect the FL to do, they've punished them -10 for not allowing their 2010 CVA members voting rights to their 2012 CVA and have said they'll only allow a takeover if the new owners meet stringent criteria, which is bound to significantly deter any other potential buyers and might yet deter the "one and a bit" they do have.

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The9

The9

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LOL. what a great combination, lucky guy

 

Although anyone running a messageboard who feels he has to hand pick and delete posts just because they dont go down the route of discussion he would like them to, is a bit odd. He's got some sort of sense of elevated self-importance as the 'owner' of POL

 

As the owner of POL he is entitled to it as well, his website, his rules. The fact they're not the same as our rules for their remaining fans is the debating point.

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COMEONYOUREDS

COMEONYOUREDS

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As the owner of POL he is entitled to it as well, his website, his rules. The fact they're not the same as our rules for their remaining fans is the debating point.

 

the point im making is that he basically completely controls the content of the board, so much for free speech

 

of course its his rules, doesn't stop it from being a little weird, whats the point in running a discussion board, if you're not willing to discuss anything?

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View From The Top

View From The Top

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Posted
This is where you are incorrect. They are not high profile, they're now a League One side who nobody cares about any more. .

 

This is very true. Of all the fans up here that I work with, play sport with or teach it's only the baggies that give a toss & the vast majority of them want them dead for cheating them out of a cup final.

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The9

The9

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the point im making is that he basically completely controls the content of the board, so much for free speech

 

of course its his rules, doesn't stop it from being a little weird, whats the point in running a discussion board, if you're not willing to discuss anything?

 

Same here though in theory, it's nothing to do with "free speech", it's a privately owned moderated forum and you play by their rules. No different in that respect, only the level to which comments are moderated.

 

It was also the same in Saints Forever until someone got annoyed enough with it to bring the whole thing crashing down, and SaintsWeb has also had more draconian times (mostly when Lowe came back), as people tend to need to be reeled in when they're furious about things that are important to them.

 

I'm sure when there were 250000 members posting from Southsea common about how whizzo Cup Winner King Kanu was and what an amazing squad of internationals they'd assembled on a shoestring that was definitely sustainable on crowds under 20k, there wasn't as much need to monitor their forum.

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COMEONYOUREDS

COMEONYOUREDS

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Posted
Same here though in theory, it's nothing to do with "free speech", it's a privately owned moderated forum and you play by their rules. No different in that respect, only the level to which comments are moderated.

 

It was also the same in Saints Forever until someone got annoyed enough with it to bring the whole thing crashing down, and SaintsWeb has also had more draconian times (mostly when Lowe came back), as people tend to need to be reeled in when they're furious about things that are important to them.

 

I'm sure when there were 250000 members posting from Southsea common about how whizzo Cup Winner King Kanu was and what an amazing squad of internationals they'd assembled on a shoestring that was definitely sustainable on crowds under 20k, there wasn't as much need to monitor their forum.

 

In theory,yeh you're right. If it brings comfort to people to feel like they have some control over something in their life then im happy for them. I don't think its ever been quite like that on here though. And I can't ever remember a mod throwing a tantrum and go crying off to their twitter feed like that before. GM was out of order most likely, but he didn't know the background. It was a flippant remark and should be taken like that. Besides Bill is quite happy for his skatelets to bang on about Liebherr Sr. being a supposed nazi, and that doesnt offend him at all... which is confusing

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Miltonaggro

Miltonaggro

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@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.

 

To be fair I've always liked David Dickinson, though if he really cared he would organise a special Redknapp and Storrie celebrity cash in the attic...

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Waterside.saint

Waterside.saint

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To be fair I've always liked David Dickinson, though if he really cared he would organise a special Redknapp and Storrie celebrity cash in the attic...

 

Plus his tangerine skin tone wouldn't go at all well with the 'true blue' face paint they wear to show their support for whatever it is they have down there now

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Joe Kirkup

Joe Kirkup

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If they somehow survive to start the season I wonder how many of 'Appys International Allstars that are clamouring to sign will actually sign once the FL apply their regulation of playing budgets which are part of their agreement to the golden share. 'Appy must have offered them some sort of wage which you can be sure will be way above that which the FL think is sensible. So not only will they have only a week or so to get a team together, 'appy will have to start from scratch in his recruitment drive.... sha la la

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Gemmel

Gemmel

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To be fair I've always liked David Dickinson, though if he really cared he would organise a special Redknapp and Storrie celebrity cash in the attic...

 

I think Rosie has chewed up all the antiques in arry's pad, but Storrie would be good value.

 

Dickinson; Oh Peter I like this wooden Edwardian seat, can you tell me where it came from.

Storrie; Yes, it was one of the season ticket seats at fratton park, that they had to take out to get at the pipes with fat in

Dickinson; Oh I see, so how come you have it?

Storrie; It was a gift from the ice cream man - sorry I meant the sheikh for my outstandiing contribution to portsmouth football club.

Dickinson; I see, I see, well I'm sure it is worth at least 20 pounds

Storrie; 20 pounds, 20 pounds, it's worth at least 1 million

Dickinson; Really? What makes you think that?

Storrie; My 25 years footballing experience.

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Torres

Torres

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To be fair I've always liked David Dickinson, though if he really cared he would organise a special Redknapp and Storrie celebrity cash in the attic...

 

It would be an episode with a difference, f'sure - one where there is literally cash in the attic. Cue both men claiming total ignorance of it and blaming their dogs.

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suewhistle

suewhistle

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Fancy a game of football tomorrow night, might just take my boots and gloves to Aldershot.

 

B****r, brought my boots and spare gloves over on holiday in case I could get to train with the local women's side in mum's town, but I didn't bring my shin pads.. So don't you forget yours!

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Weston Super Saint

Weston Super Saint

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Anyone up for a sweep on the scoreline for tomorrow? I'm going for a plucky, heartbreaking, 5-0 defeat for our heroes.

 

I'm gonna go with freak weather conditions leading to the match being called off.

 

We all know it's because they haven't got enough players to put a team out, but the spin about the weather will come from the Pompey Pravda.

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St Chalet

St Chalet

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I'm gonna go with freak weather conditions leading to the match being called off.

 

We all know it's because they haven't got enough players to put a team out, but the spin about the weather will come from the Pompey Pravda.

 

My money is on Neil explaining to us that Appleton was going with a 'development squad'. Now having played at Aldershot I can confirm it is neither built on a gravel pit or an amazing footballing surface - perhaps he will use this as his Goldilocks excuse.

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