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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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trousers

trousers

Posted
Posted

 

A spokesman for Pompey administrators PKF said: ‘It’s all systems go to complete a deal with Portpin to safeguard the club’s future.

‘We are talking to Portpin in order to complete the purchase of the club in the next few days.

‘Once the players leave or sign the compromise agreement, then the CVA terms have been met and it’s a case of holding final discussions.

‘If Portpin does complete we still see a very important role for the trust. They could get together with Portpin and work on a joint-deal or the potential transition to the trust in due course.

They seem to be completely glossing over the fact that the Portpin and/or The Trust are yet to agree (as far as we know) to the stringent conditions put on the table by the Football League

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trousers

trousers

Posted
Posted
This was in the above article...

 

"Portpin, who are in discussions with the Pompey Supporters’ Trust"

 

Why are they in discussions? - if the plan is to sell to the trust as soon as Birch has sold to Chanrai does that not make the whole process farcical - and what does Chanrai have to gain from doing all this?

 

I would take any statement in that article with a pinch of salt as it is littered with contradictions. For example, in one sentence the threat of liquidation has been "eradicated" whereas in a later sentence the threat of liquidation has "dramatically reduced"

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Chez

Chez

Posted
Posted
Would be interesting to try to calculate what it cost Saints or Norwich (both clubs with acceptable facilities, stadium etc.) to go from L1 to PL - just in terms of transfers... Add to that the fact that they can't count on their academy like we did and we're way off a budget that Chinny would ever play with...

well we went £21m in debt, so add your income on top of that for the three seasons, I'm guessing £25m (someone will know the eact figure) and there's you £46m cost of a double promotion in three seasons.

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trousers

trousers

Posted
Posted
well we went £21m in debt, so add your income on top of that for the three seasons, I'm guessing £25m (someone will know the eact figure) and there's you £46m cost of a double promotion in three seasons.

 

So roughly two thirds the price of your average CVA? That's easily doable for Pompey then....

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View From The Top

View From The Top

Posted
Posted
This was in the above article...

 

"Portpin, who are in discussions with the Pompey Supporters’ Trust"

 

Why are they in discussions? - if the plan is to sell to the trust as soon as Birch has sold to Chanrai does that not make the whole process farcical - and what does Chanrai have to gain from doing all this?

 

The trust is trying to get BC to talk to them, which he isn't.

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angelman

angelman

Posted
Posted
The trust is trying to get BC to talk to them, which he isn't.

 

Of course they are. They want him to write off, what, say £27m of secured debt so that they can get the club, the PPs and everything. Chin isn't (supposedly) a successful businessman for being extraordinarily altruistic. The PST are whistling in the wind.

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Chez

Chez

Posted
Posted
They still have a transfer embargo in place though, yes?
is there an official FL transfer embargo in place or is it just a case of them picking and choosing who the skates can and can't sign?

 

Not signing players more likely down to no funds available (birch has said as much) until Portapin deal concluded/announced

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dubai_phil

dubai_phil

Posted
Posted

OK in the "we all know what's going to happen next" world.

 

PST have "conned" PCC into making a Political PR decision to lend them money to buy the club/stadium. PCC have been perfectly supplied with all the ammunition they needed to be able to approve the plan.

 

The Trust can now go back to TB and make their bid.

 

CHinny will of course say "Yes, you can have the club, I'll keep the Stadium and you pay rent" (as we posted here and PST fully believe as well)

 

PST will then agree and realise........

 

Their financial plan is around 1.45mil short......

 

Which means they will have no choice but to go back to PCC and say - you know that loan secured on NottArf..... Wellllllllll, we still need the cash and you cannot have the security. UNLESS you give us the loan, pcfc will go bust.

 

You have already nailed your colours to the mast, you have already said how valuable you are, you all agreed to save us, now you CANNOT change your minds...

 

Or words to that effect.

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Kingsbridge Saint

Kingsbridge Saint

Posted
Posted
OK in the "we all know what's going to happen next" world.

 

PST have "conned" PCC into making a Political PR decision to lend them money to buy the club/stadium. PCC have been perfectly supplied with all the ammunition they needed to be able to approve the plan.

 

The Trust can now go back to TB and make their bid.

 

CHinny will of course say "Yes, you can have the club, I'll keep the Stadium and you pay rent" (as we posted here and PST fully believe as well)

 

PST will then agree and realise........

 

Their financial plan is around 1.45mil short......

 

Which means they will have no choice but to go back to PCC and say - you know that loan secured on NottArf..... Wellllllllll, we still need the cash and you cannot have the security. UNLESS you give us the loan, pcfc will go bust.

 

You have already nailed your colours to the mast, you have already said how valuable you are, you all agreed to save us, now you CANNOT change your minds...

 

Or words to that effect.

 

That could easily happen. Pompey finding a way to wheedle money out of another sucker now, by using the emotional blackmail card. Then blowing it all on players again. if the FL are serious about maintaining the integrity of English football they are going to need eyes in the back of their head. They need to let the DFCSB's know they are going to be all over them like a rash, or they'll just flick the V's again. It's the way they roll at Fortress Fatpipes.

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Lazlo78

Lazlo78

Posted
Posted
OK in the "we all know what's going to happen next" world.

 

PST have "conned" PCC into making a Political PR decision to lend them money to buy the club/stadium. PCC have been perfectly supplied with all the ammunition they needed to be able to approve the plan.

 

The Trust can now go back to TB and make their bid.

 

CHinny will of course say "Yes, you can have the club, I'll keep the Stadium and you pay rent" (as we posted here and PST fully believe as well)

 

PST will then agree and realise........

 

Their financial plan is around 1.45mil short......

 

Which means they will have no choice but to go back to PCC and say - you know that loan secured on NottArf..... Wellllllllll, we still need the cash and you cannot have the security. UNLESS you give us the loan, pcfc will go bust.

 

You have already nailed your colours to the mast, you have already said how valuable you are, you all agreed to save us, now you CANNOT change your minds...

 

Or words to that effect.

 

Interesting plot. The PCC will wake up one morning and find themselves cast as the new villains. "If you don't act the club will be history - and so will the £300 fantasillions/year..."

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alpine_saint

alpine_saint

Posted
Posted
http://www.portsmouth.co.uk/sport/pompey/pompey-past/walker-s-hopes-of-dream-move-are-building-1-4148425

Walker said: ‘Everyone’s keeping their fingers crossed. No-one wants Portsmouth to go down.

‘They are a big club and they have big support – the best in England.'

 

:facepalm:

 

 

 

The departure from reality down the other end of the M27 is simply breathtaking.....

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for_heaven's_Saint

for_heaven's_Saint

Posted
Posted
http://www.portsmouth.co.uk/sport/pompey/pompey-past/walker-s-hopes-of-dream-move-are-building-1-4148425

Walker said: ‘Everyone’s keeping their fingers crossed. No-one wants Portsmouth to go down.

‘They are a big club and they have big support – the best in England.'

 

:facepalm:

 

 

 

Ridiculous. If they said 'the best in Hampshire or the best in the south' I'd disagree, but think it was just a local rivalry thing. But to claim they have the best fans in the whole country is ridiculous.

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oldskoolsi

oldskoolsi

Posted
Posted
‘They are a big club and they have big support – the best in England.'

 

I suppose if it keeps on being printed then more and more people will be taken in by it and believe it could be true. ROFL

 

"If you tell a lie big enough and keep repeating it, people will eventually come to believe it." - Gobbels, although Wiki spoils the fun by saying it's a misquote.

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ericofarabia

ericofarabia

Posted
Posted
‘They are a big club and they have big support – the best in England.'

 

I suppose if it keeps on being printed then more and more people will be taken in by it and believe it could be true. ROFL

 

Surely they must have Patented this phrase by now ..... mind you doesn't that involve paying out money?

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Hockey_saint

Hockey_saint

Posted
Posted
"If you tell a lie big enough and keep repeating it, people will eventually come to believe it." - Gobbels, although Wiki spoils the fun by saying it's a misquote.

 

I believe the quote which is what you are thinking of is actually attributed to Hitler (the man that made Pompey record FA Cup holders innit moosh) and it goes (from the top of my head) like this:

 

"The people can be fooled by one big lie far easier than a series of small ones"

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anothersaintinsouthsea

anothersaintinsouthsea

Posted
Posted
http://www.portsmouth.co.uk/sport/pompey/pompey-past/walker-s-hopes-of-dream-move-are-building-1-4148425

Walker said: ‘Everyone’s keeping their fingers crossed. No-one wants Portsmouth to go down.

‘They are a big club and they have big support – the best in England.'

 

:facepalm:

 

 

 

People take the **** but its true. Each one attending a home match spends at least £1000 a time on beer and pies contributing £300m to the local economy a year. It's true because a Portsmouth councillor said so.

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Trader

Trader

Posted
Posted
How can the loan be secured against Fratton Park when there's already a whopping great secured charge on it?

 

Glad to see you're obviously fit and well again Whitey Grandad.

 

I have also had 'Fratton Park Disease' (caused by fat in the pipes) but I'm glad that both our clocks are still ticking.

 

Will take more than a couple of stents to sort that mess down the road out though.

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Saint in Paradise

Saint in Paradise

Posted
Posted
Out of interest, where's Truckie these past days?

 

It's getting close to the time for him to pay out on his Sweepstake.

 

God Bless Missing Posters

 

Perhaps he has been kidknapped and a ransom demand will soon appear? Kidnapping for money is a very

popular way to raise money in certain countries. I wonder if De Moureau island people have decided to try it

as no where near enough pledged their 1000 pounds.

 

Come to think of it where has the old dear on the mobility scooter gone? Haven't seen her either for a while. :scared:

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lifeintheslowlane

lifeintheslowlane

Posted
Posted
http://www.portsmouth.co.uk/sport/pompey/pompey-past/walker-s-hopes-of-dream-move-are-building-1-4148425

Walker said: ‘Everyone’s keeping their fingers crossed. No-one wants Portsmouth to go down.

‘They are a big club and they have big support – the best in England.'

 

:facepalm:

 

 

 

He'd be a good signing for them...having joined them straight from a Spanish building site he could double-up with Nottarf Krap ground maintenance. :)

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kwsaint

kwsaint

Posted
Posted

There will be a deal late this afternoon. Don't worry, we have two more years of fun on this thread. Chainrai has no interest in the club, just wants the parachute payments. They will be back in admin in 2 years. The bestest supporters in the world are split down the middle and squabbling like children. They all hate Chainrai, but some want a phoenix club and to start again with a clean slate (the sensible ones) and others want survival at any costs. Anyone who disagrees with them is a scummer - so there are many pompey supporters banned from POL. I know that we had our disagreements during admin, but it was nothing like this.

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dubai_phil

dubai_phil

Posted
Posted
There will be a deal late this afternoon. Don't worry, we have two more years of fun on this thread. Chainrai has no interest in the club, just wants the parachute payments. They will be back in admin in 2 years. The bestest supporters in the world are split down the middle and squabbling like children. They all hate Chainrai, but some want a phoenix club and to start again with a clean skate (the sensible ones) and others want survival at any costs. Anyone who disagrees with them is a scummer - so there are many pompey supporters banned from POL. I know that we had our disagreements during admin, but it was nothing like this.

 

Apologies but that really needed to be corrected ;)

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goneawol

goneawol

Posted
Posted
http://www.newsnow.co.uk/A/592369842?-11209

 

Lawrence to BC, We need £4M,

 

BC to L No chance

 

There is still plenty of uncertainty, however, with Appleton still not knowing what moves he can make in the transfer market.

 

The 36-year-old was hoping for a wage budget in the region of £4m from Chainrai to be able to create a squad capable of making an impact in League One next season.

 

Indications were made that would be the situation, but it now appears it may not be the case.

 

 

Is that the sound of trialists packing their bags?

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andysstuff

andysstuff

Posted
Posted
Now that all the team have gone how funny would it be for Chin to come and say "you know what I can't be bothered now " and withdraw his offer.

 

Unlikely, but if he thinks it's worth more liquidated than crawling along for a couple of years then he won't hesitate to say that.

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Fuengirola Saint

Fuengirola Saint

Posted
Posted
"If you tell a lie big enough and keep repeating it, people will eventually come to believe it." - Gobbels, although Wiki spoils the fun by saying it's a misquote.

 

 

It's like the first 18 months of the coalition Government, every time a minister went on tv or radio, he would say we are clearing up the mess left behind by the last government,even if they weren't talking about the economy, it was cringeworthy. It was blatantly obvious they were told to parrot this by the pr dept, now they've moved on to the crisis in the euro zone :-\

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rallyboy

rallyboy

Posted
Posted

by sharing a city with the bestest, which lucky local companies will benefit to the tune of £820K today?

Come on, someone must know...

These ba$tard companies have made over £200K from pompey since they opened this morning :o, and it can't all be Birch - where is the rest of it going?

No wonder Storrie was worried about image rights, the club is being shafted by the local community that is coining it in on the back of pompey's good reputation.

 

I heard that running a pub in a recession was similar to owning a goldmine, and in the shadow of the arena it's like printing your own money at the moment - but these thriving businesses in pompey that make £6M a week from the club are just parasites, and should be coughing up commission to Birch.

 

It's not just business that make a mint out of pfc, it's those charitity leeches as well, they should give something back as most of their donations only come in as part of the £300M of reflected glory.

It's all very well paying for 'lazy kids' to have oxygen tanks and operations, but what level of trim is Brian Howard going to have on his next Lexus if the locals continue to rip off the football club?

 

It's outrageous, and this is where football is destroying itself - being too lenient with the thieving community.

I understand now why Portsmouth City Council has become involved, taxing residents to pay back the lost revenue is the fairest way for the football club to get some of it's cash back.

 

 

 

 

 

 

Lawrence does a deal?

I should think he fricking well does at the levels that Birch has agreed!

We were given the impression that players were writing off monies and being heroic, then Saint John spots the little bombshell from Vernon-Jackson that they have already agreed £8M - and that didn't include Lawrence and Kanu. :scared:

If spread over four years, they need to payoff £40K a week!!

 

They aim to operate on a wagebill of £2.5M a year - but most of that has already been agreed for the plucky ten....

 

Though it might be easier to not pay them.....and just reverse the bus back through the debris of the football creditor rule.

 

 

Do the figures stack up?

I expect the midfield brickie trialist whose family live in Spain on fish and chips and Eastenders will be the bloke to ask, he seems as sharp as the son of the kitman when it comes to world affairs.

I know if I was looking to build a team the first place I'd look would be a foreign building site, that's where Wenger and Ferguson find most of their players.

Back in the day Giggs was a plasterer in Portugal on the site managed by Thierry Henry, while the Neville brothers did cavity wall insulation and gardening in the Loire Valley.

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