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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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suewhistle

suewhistle

Posted
Posted
Most of the trialists seem happy to hang about. It makes you wonder what they've been promised, and how that will differ from what they get offered.

 

and how what they actually get will differ from what they get offered. First late payment and I'd be off like a shot and putting a claim in..

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Lets B Avenue

Lets B Avenue

Posted
Posted
' Eventually they must strike lucky with this plan - Appy seems a goodish manager - and when they do they will build the momentum, even if they don't make it up this season, to move forward.

 

Just wondered what you based this on. Not exactly a storming success in his first season was he?

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sidthesquid

sidthesquid

Posted
Posted (edited)
*cough* launderette *cough*

 

Exactly. No reputable businessman would touch them with a barge-pole, but no reputable club-owner would sell it to a dodgy East-European for several sacks of used notes and a promissary note from the pensioners of Lithuania. By definition they will attract another dirty owner, but there are no shortage of those looking to clean up their image and their cash as they hide in full view in English football.

And Chinny can't lose - another admin if it goes wrong, a bigger valuation/pay-off if they get back up.

Edited by sidthesquid
I hate typos
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dubai_phil

dubai_phil

Posted
Posted

Nice to see that the phew are showing their true form and quality on various Twitter feeds.

 

Nice line in what are to all intents and purposes Racist remarks.

 

I'm sure you can find stuff if you wish, I certainly am not going to post any links to it.

 

Personally? Seeing that stuff makes me wonder whether my preference to see them continue to be a laughing stock is the right choice after all.

 

Comical Ali Bestest fans nonsense is all well and good but then they sink to new lows.

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TopGun

TopGun

Posted
Posted
IF they said yes to the loan would that embarrass Trevor? To me he seems to be for Chinny to come back after reading what he said a short time ago.

 

The council may vote yes in principle but it's the conditions that will scupper it in reality - e.g. x amount of money on deposit plus loan security for the £1.45m. Not that it probably matters if Chinny's doing the deal with TB.

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sussexsaint

sussexsaint

Posted
Posted
You lot worry too much. They're fuc.ked for years to come.

 

I've been with you an this mate , ever since I saw the conditions laid down by the FL - they have had enough trouble from that club and they are drawing a line under it - the financial constraints will see them f*cked for ages. It does not have seemed to have sunk in with the idiot supporters who think they can go back to the old habits of buying their way out of the league wit the remaining PP's the FL simply will not allow it.

If they think they will P*ss league 1 they have a very big wake up call coming. I have infinitely more respect for the lower leagues after our spell there.

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anothersaintinsouthsea

anothersaintinsouthsea

Posted
Posted
I've been with you an this mate , ever since I saw the conditions laid down by the FL - they have had enough trouble from that club and they are drawing a line under it - the financial constraints will see them f*cked for ages. It does not have seemed to have sunk in with the idiot supporters who think they can go back to the old habits of buying their way out of the league wit the remaining PP's the FL simply will not allow it.

If they think they will P*ss league 1 they have a very big wake up call coming. I have infinitely more respect for the lower leagues after our spell there.

 

Yep, people tend to underestimate the quality of league 1 but you only need to look at how the teams that got promoted from L1 in the last few years have done in the Championship to see that is a mistake. There will be half a dozen teams that think automatic promotion is realistic and a further seven or eight will expect to challenge for the play-offs.

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EastleighSoulBoy

EastleighSoulBoy

Posted
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i dont think i am missing the point as i have said all along that Bc will take the club on ,and that they would not be toast. There are plenty of decent players around who are free agents and MA will make a competitive team. Whether they can get promotion is another thing but I dont see them falling down a league. BC all along has been at least 1 step ahead of us on here and whilst he may have been duped into lending them money some time ago, you dont become fabulously wealthy by making too many mistakes. he has something lined up and you never know he may buy the land around FP and make it a better proposition to a potential buyer for expansion. The FL constraints may be seen to be fierce but I have little confidence in them as they seem to wory about a team folding more than policing.

 

What amounts of money did BC 'lend' to the club? There obviously were some monies loaned but I forget how much. The £18M comprises £17M which was what BC 'paid' for the club, to Gaydamak Jnr. I am of the view that that money never actually changed hands due to BC being awarded £17M in a court case against Gaydamak Snr, in France. BC is really after what he feels Gaydamak Snr owes him. If this is correct then he's maybe not as bright as I thought and was duped by Gaydamak. He may well be pumping enough to get his £17M back.

 

Another win win conspiracy?

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Saint Lindford

Saint Lindford

Posted
Posted

Taken from one of 'their' boards.

 

Delighted he's finally gone!

 

Though hugely disappointed in the group of 20 odd fans who were singing anti-semetic songs to Ben Haim last night, the group were dinlos of the highest order and i'm glad the majority of the fans didn't stoop to that level. Really left a sour taste in my mouth after what was such a promising performance.

 

Now that Appy can build a team we will see why West Brom held him in such high regard, it could be special!

 

Oh dear... oh dear

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Thedelldays

Thedelldays

Posted
Posted

Appy has yet to prove himself as a manger IMO

 

Last season was a write off and a complete circus

 

If he gets a playoff spot he would have done very well

 

He is deemed to be a very good manager for no other reason than he says nice things and comes across as a decent chap

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dubai_phil

dubai_phil

Posted
Posted
Why does it feel like they're getting away with it all over again? If it was any other club they would be dead by now!

 

Yes they should be f()(ked for years but now it seems like they are gettin away with it AGAIN

 

Wait.

 

You're almost as bad as Alps on a matchday thread.

 

or another analogy - you've shot your load at the thought of getting in a cab to take a fit chick home that you just pulled....

 

This still has a day to play out before the rest of us have to start asking Old Nick where he buys his Prozac

 

There's still Kanu and nobody yet knows what the deal is with TBH - the ONLY thing we know there is that his new club will not be paying him all he is owed to date and probably not even half his current contracted Salary value

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doubleonothing

doubleonothing

Posted
Posted
Wait.

 

You're almost as bad as Alps on a matchday thread.

 

or another analogy - you've shot your load at the thought of getting in a cab to take a fit chick home that you just pulled....

 

This still has a day to play out before the rest of us have to start asking Old Nick where he buys his Prozac

 

There's still Kanu and nobody yet knows what the deal is with TBH - the ONLY thing we know there is that his new club will not be paying him all he is owed to date and probably not even half his current contracted Salary value

 

I'll put up with a lot - but being compared to Alps is something I won't stand for!

 

I demand satisfaction Sir!

 

I'm off to find some duelling pistols!

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Fuengirola Saint

Fuengirola Saint

Posted
Posted
Just got back from Carvaleja, one stop on the coastal railway from Benalmadena. Do the weekly market there (benalmadena) if you can, and another must is the Cala Luna restaurant in Fuengirola, fantastic food and ludicrously cheap.

 

If you're in Fuengirola you ought to try El Jardìn, it's a Bulgarian owned bar, near Mercadona by the river close to Los Boliches, that does bottles of beer for €1,20, a pint for €1,50 ( €1,20 happy hour 4-7 i think ) and tapas for €1 and they're a good size too, two or three of those would constitute a good sized meal.

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saint1977

saint1977

Posted
Posted
Appy has yet to prove himself as a manger IMO

 

Last season was a write off and a complete circus

 

If he gets a playoff spot he would have done very well

 

He is deemed to be a very good manager for no other reason than he says nice things and comes across as a decent chap

 

It'll be an interesting test, he won't have long to assemble a squad under tight restrictions from the FL (about flippin' time too I may add) and as we know, that League is not easy. We were also -10 but they won't be signing Hardings, Hammonds or Lamberts and they have no Lallanas, Davis's or Morgans already at the club. 60 points minimum to be confident of avoiding the drop again - not easy. A lot of the best frees at that level have also been hoovered up.

 

Their fans are deluded if they think the skates can finish in the top half and if Appleton does, he'll have NPC clubs queued up. Surviving would be a great achievement, probably more so than Nigel keeping us in the Prem. You look at the mess there though and wonder how some of our fans can get themselves in such a state on the main board!

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trousers

trousers

Posted
Posted (edited)

Meanwhile, back at the council meeting....

 

Joe Nimmo ‏@PN_Joe_Nimmo A member of the Portsmouth Youth Parliament says this generation will miss out if Pompey goes under. #pst

 

Julian Wadsworth from the Respect programme says he could never have started working with young people if Pompey hadn't existed. #pst

 

Mr Wadsworth says he has worked with serious young offenders to turn their lives around thanks to the power of the Pompey brand. #pst

 

He says without the football club we will lose a massive part of what the city is about at a crucial time for sport in the UK. #pst

 

Northcote Hotel landlord Barry Kewell has said if Pompey is liquidated it will cost the city hundreds of jobs and thousands of pounds. #pst

 

Trust board member Mark Trapani has said they 'want to put the club back in the community where it quite rightly belongs'. #pst

 

Mr Trapani says he was overwhelmed when an 86-year-old woman gave him a £200 check yesterday 'to save Pompey'. #pst

Edited by trousers
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OldNick

OldNick

Posted
Posted
What amounts of money did BC 'lend' to the club? There obviously were some monies loaned but I forget how much. The £18M comprises £17M which was what BC 'paid' for the club, to Gaydamak Jnr. I am of the view that that money never actually changed hands due to BC being awarded £17M in a court case against Gaydamak Snr, in France. BC is really after what he feels Gaydamak Snr owes him. If this is correct then he's maybe not as bright as I thought and was duped by Gaydamak. He may well be pumping enough to get his £17M back.

 

Another win win conspiracy?

if the loan/debt was as unclear as that surely the administrator would have kicked it into touch. Comical as it seems there must be paperwork to back BC up.

BC is a smart operator and whilst I have been the target of a few smart remarks I am still here and have yet to be proved wrong. Many like the thought that the Few are squirming (well make out they do) and finished for years, i dont wish to take the risk and let them be quashed immediately.

As for the squad, if the players are out of contract and no wages coming in, i doubt they are in a strong bargaining position and so will take what they can get. £2500 pw is still a decent wage, especially if like Howard they have been paid handsomely over the years they can wind down on such a wage. Some of the players on trial would have commanded decent transfer fees a while back

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OldNick

OldNick

Posted
Posted
Joe Nimmo ‏@PN_Joe_Nimmo Council finance officer Chris Ward says the Premier League has agreed in principle to assigning parachute payments to the council. #pst

 

WTF?!

amazing, and so I suspect the council will have the loan underwritten,That makes it very difficult to say no to the loan if this is the case. I bet the trust wished they had asked for 5m. It would have let them make a better bid to the creditors.
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Torres

Torres

Posted
Posted (edited)
Joe Nimmo ‏@PN_Joe_Nimmo Council finance officer Chris Ward says the Premier League has agreed in principle to assigning parachute payments to the council. #pst

 

WTF?!

It's something we can do if the owners/administrator agrees.

 

That's an agreement in principle. Doesn't mean it's going to happen.

 

Regardless, all this is a waste of council time as Chinny won't sell for the amount the PST are proposing to offer him.

Edited by Torres
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trousers

trousers

Posted
Posted

Joe Nimmo ‏@PN_Joe_Nimmo

Cllr Gerald Vernon-Jackson says they are trying to avoid the prospect of liquidation and all the councillors want the club to survive. #pst

He says it is a very difficult decision and the city council would have to make cuts to services if the loan was not repaid. #pst

Cllr Vernon-Jackson says this is a 'bad day for Portsmouth, because football finance is run so badly'. #pst

He says he thinks the council should offer the trust a lifeline and safeguard Pompey's survival. #pst

 

Why are they seemingly ignoring the fact that Chainrai is already waiting in the wings to 'save' them? They're talking as if the Trust are the only show in town...

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TopGun

TopGun

Posted
Posted
It also doesn't appear to me that the PST has included PKF administrator costs in their proposal under football creditors by the relatively low amount assigned, although I could be wrong as there is no detail.

 

Nevertheless, it's worth highlighting to Portsmouth Council for them to consider. So the following email has been sent to Cllr Gerald Vernon-Jackson and the other three councillors who have the Resources portfolio for the Lib Dems, Cons and Labour.

Dear Councillor Vernon-Jackson,

 

Like many others no doubt I have studied the PST loan proposal that the council intends to consider on Thursday.

 

Without discussing the wider proposals put forward by the PST I note there is no reference to the PKF administrator costs which are believed to be in excess of £500,000 currently.

 

This needs to be factored into the PST loan proposal by officers and councillors.

 

Yours sincerely

 

Got this back from Cllr Mason, Head of Resources:

 

Dear

 

The administrator informs us that his fees will be taken from 'parachute payments' already received by the club. For all legal purposes he is the club. The parachute payments due in the next eleven months total £5.58 million. This will be a difficult call for the Council since although any loan would come out of reserves, we still have to make very substantial on-going cuts for the year 2013-2014. I regret that since I will be out of the country on Thursday I will not be able to be at the Full Council.

 

Hugh Mason.

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OldNick

OldNick

Posted
Posted
Got this back from Cllr Mason, Head of Resources:

 

Dear

 

The administrator informs us that his fees will be taken from 'parachute payments' already received by the club. For all legal purposes he is the club. The parachute payments due in the next eleven months total £5.58 million. This will be a difficult call for the Council since although any loan would come out of reserves, we still have to make very substantial on-going cuts for the year 2013-2014. I regret that since I will be out of the country on Thursday I will not be able to be at the Full Council.

 

Hugh Mason.

So TB is holding back PP to cover his costs and only 5.58m left for this season. If that is the case I cant see BC is buying just to get his 18m back as patently there is not that much there to come in the next few years.
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dubai_phil

dubai_phil

Posted
Posted
Joe Nimmo ‏@PN_Joe_Nimmo Tory group leader Simon Bosher says the hearts of councillors want to support the trust, but their heads are urging caution. #pst

 

All of this time and money (and publicity) is all very well, but I have two questions

 

1) Is the PST offer to TB actually BETTER than that of BC? (ie is there a better return for the Creditors?)

2) Has TB actually agreed (conditionally) to accept this offer from the PST?

 

Just don't think I (or my keyboard) could stand the moment where the Council agree to back the bid. PST go to TB and he says......

 

 

Sorry guys Chinny offered 10 quid more

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OldNick

OldNick

Posted
Posted
Dan Brett ‏@DanBrett90

 

Premier League give "no cast iron guarantee" on the parachute payments but see no reason why payments can't be redirected in the future.

Lol can you imagine the council backing the loan and then the Pl deciding not to guarantee it?
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sotonswan

sotonswan

Posted
Posted

I wonder how (or indeed whether) the FL intend to police BC's reduced charges.

 

Are these held at Companies House? When could we expect to see these updated publicly?

 

Surely the the FL would expect to see copies of faxed submissions to CH before handing over the golden share.

Or maybe they'll just takle BC's word for it that it's 'in progress'.

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View From The Top

View From The Top

Posted
Posted
So TB is holding back PP to cover his costs and only 5.58m left for this season. If that is the case I cant see BC is buying just to get his 18m back as patently there is not that much there to come in the next few years.

 

F.cks sake, it's not hard. Takes all the cash, gives PST the club minus Fratton & then rents it to them at £1m per year on a fixed term contract.

 

 

Even PST are expecting that.

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