lifeintheslowlane Posted 11 August, 2012 Share Posted 11 August, 2012 Despite all the talk of a Chinny take over I still can't see past Liquidation by the FL not granting the Golden Share. None of this financial speculation makes any sense to me...the FL need guarantees that they can complete the season. Nobody has shown any financial guarantees as far as I can see...what am I missing? Link to comment Share on other sites More sharing options...
Faz Posted 11 August, 2012 Share Posted 11 August, 2012 (edited) TB: "I am secured. I will get my money back" In fact, he is the only person guaranteed to get his money back. Edited 11 August, 2012 by Faz Link to comment Share on other sites More sharing options...
Hockey_saint Posted 11 August, 2012 Share Posted 11 August, 2012 so let me get this straight...Chanrai (because, let's face it, that is the only person TB has been dealing with) told TB that he wouldn't consider buying the club unless he rid it of all it's first team players; when he does, he says "nah, I don't fancy it anymore". Brilliant. You know, I don't like generalisations, but Indians tend to be very good at haggling....now so are loan sharks, violently so...now if you can find me an indian loan shark ooohhh I see now!....yep they're screwed....well played. SHALALALALALA WTFILN?? Link to comment Share on other sites More sharing options...
Gingeletiss Posted 11 August, 2012 Share Posted 11 August, 2012 There is no way that chanrai will walk away this is all tactical. Birch will have to negotiate as there is no way he will want to be in charge of a liquidation. Which of these two conflicting statements, do you want to hang your hat on! Link to comment Share on other sites More sharing options...
KK the 2nd Posted 11 August, 2012 Share Posted 11 August, 2012 2-0 down against Salisbury :-) Link to comment Share on other sites More sharing options...
dubai_phil Posted 11 August, 2012 Share Posted 11 August, 2012 Oh bless. Nice to see my old home town doing their bit Salisbury 2 - skates 0 Link to comment Share on other sites More sharing options...
dubai_phil Posted 11 August, 2012 Share Posted 11 August, 2012 This will be a new game now. PKF are a global Corporate Entity not some tinpot football club run by a bunch of dreamers. PKF will have stakeholders and the law firmly behind them. They have absolutely NO need to negotiate whatsoever. In fact globally, giving in to emotional blackmail in a small bywater such as portsmouth could cost the company MILLIONS globally when other parties out there with proper business see that they are a soft touch. This will be fun. Oh and FWIW, I recently had some dealings with a large financial consulting company who I cannot name and from whom I cannot tell you whether I negotiated a discount or not. If I had held a negotiation after years of training there is no way I would have said, I say old chap your fees are a bit high, I need a 25% discount. And of course there is no way that a real life organisation would have said will you accept 20% discount. So back in reality. Yeah TB will deal Link to comment Share on other sites More sharing options...
Faz Posted 11 August, 2012 Share Posted 11 August, 2012 I don't think TB has any need to do a deal at all. Otherwise, the next football club they are Administrator for (and there will be a next one), any potential purchaser will just chop their fees at the last minute. Won't happen imo. Link to comment Share on other sites More sharing options...
holepuncture Posted 11 August, 2012 Share Posted 11 August, 2012 Looks like the fun's started earlier than we thought it would. From the Pompey News Chainrai threatens to walk away from Pompey over adminstrator-fee dispute BALRAM Chainrai has threatened to walk away from Pompey in a dispute over administration fees. Mr Chainrai’s firm Portpin has been poised to take on Portsmouth Football Club again after the sale of Liam Lawrence was confirmed yesterday. Discussions have been ongoing between Portpin and administrators PKF to finalise arrangements. But the takeover is now in jeopardy because a deal on PKF fees – believed to be £1.8million – cannot be met. Speaking to The News, Mr Chainrai said: ‘Me and my business partner Levi Kushnir are very depressed with the situation over the fact PKF have refused to do a compromise deal over their fees. ‘Because they are failing to do a compromise with fees, there’s no way to move forward and take the club out of administration. ‘We are waiting for them to follow through on this. ‘We will be waiting, but we won’t be waiting for long.’ Administrator Trevor Birch has not confirmed the amount, but said negotiations are taking place. He said: ‘Over the past six weeks or so I have been striving – in very difficult circumstances – to fulfil the terms of the CVA with Portpin. ‘This is so the club can come out of administration before the new season starts and have the best opportunity to move forward in a positive manner – as all the fans and employees of the club want to see. ‘At such a critical stage it is inappropriate to conduct confidential negotiations through the media and therefore until matters are finalised, one way or another, I do not intend to make any comments.’ God Bless Balram Chainrai Link to comment Share on other sites More sharing options...
toofarnorth Posted 11 August, 2012 Share Posted 11 August, 2012 So now its inappropriate to conduct negotiations through the media but its been fine for the past few months where players were concerned. OK Mr Birch. Link to comment Share on other sites More sharing options...
bridge too far Posted 11 August, 2012 Share Posted 11 August, 2012 TB was appointed at the suggestion of HMRC. Too much of a conspiracy theory to suggest that HMRC said to TB 'drag it out as long as you possibly can for as big a fee as you can' in the hope that HMRC can finally exact revenge? Link to comment Share on other sites More sharing options...
Draino76 Posted 11 August, 2012 Share Posted 11 August, 2012 Well at this rate I am gonna get Chanrai on the back of my new Saints shirt. I am struggling to think who hates Portsmouth FC more TBH? Myself? Kanu? The PTS nutjobs or Chanrai? I would be interested to hear what happens when there is only ONE potential serious bidder for a business (lol) to come out of any administration. Are the administrators fees set in stone or is negotiation commonplace? Link to comment Share on other sites More sharing options...
ericofarabia Posted 11 August, 2012 Share Posted 11 August, 2012 More Twists and Turns than a Twisty Turny Thing Baldrick. Anymore Cunning Plans? Link to comment Share on other sites More sharing options...
bridge too far Posted 11 August, 2012 Share Posted 11 August, 2012 Well at this rate I am gonna get Chanrai on the back of my new Saints shirt. I am struggling to think who hates Portsmouth FC more TBH? Myself? Kanu? The PTS nutjobs or Chanrai? I would be interested to hear what happens when there is only ONE potential serious bidder for a business (lol) to come out of any administration. Are the administrators fees set in stone or is negotiation commonplace? Wouldn't their fees be classed in the same way as lawyers' fees? If you win a case / divorce settlement / will, the legal fees are taken out before any dispersion of the money you receive. Link to comment Share on other sites More sharing options...
mack rill Posted 11 August, 2012 Share Posted 11 August, 2012 Hypocrite. You don't spell a r s e h o l e like that, Link to comment Share on other sites More sharing options...
Panda Posted 11 August, 2012 Share Posted 11 August, 2012 In a liquidation situation the administrator takes his fees first and assets at PFC will certainly cover the admin fees at £1.8m. TB has no need to negotiate so what is BC up to here? BC does not want liquidation or the revenue from the PP's will be lost. In liquidation he will get only a small amount back - BC Needs the club to survive for another 18 months or so. From TB's point of view he wins either way. If he liquidates then he can say it was BC's fault for not completing the deal and he gets his £1.8m both ways. As I see it TB holds all the cards and yet BC is a pro in these dealings so just what is he aiming at? Link to comment Share on other sites More sharing options...
Gingeletiss Posted 11 August, 2012 Share Posted 11 August, 2012 You don't spell a r s e h o l e like that, Quite correct Mack....it's spelt CORPHO! Link to comment Share on other sites More sharing options...
Winchester Red Posted 11 August, 2012 Share Posted 11 August, 2012 In a liquidation situation the administrator takes his fees first and assets at PFC will certainly cover the admin fees at £1.8m. TB has no need to negotiate so what is BC up to here? BC does not want liquidation or the revenue from the PP's will be lost. In liquidation he will get only a small amount back - BC Needs the club to survive for another 18 months or so. From TB's point of view he wins either way. If he liquidates then he can say it was BC's fault for not completing the deal and he gets his £1.8m both ways. As I see it TB holds all the cards and yet BC is a pro in these dealings so just what is he aiming at? Just emotional blackmail BC wants knuckle dragging skates hammering on the door of the local PFK office making threats They've to no need to compromise, but I bet they do BC has played a blinder here. I wish I could find out the full facts of what's going on at the moment as well as the full strategy of AA's involvement with TBH Link to comment Share on other sites More sharing options...
Just a Fan Posted 11 August, 2012 Share Posted 11 August, 2012 Just going back to the council lending the trust money to take pompey over, wasn't it a stipulation of the F.L.that whoever bought into pompey wouldn't be allowed to borrow money for the next 5 years? Link to comment Share on other sites More sharing options...
Sevvy Posted 11 August, 2012 Share Posted 11 August, 2012 http://www.newsnow.co.uk/A/592567086?-11209 I mnow its been on here already i expect but they aint happy down the other end of the M27, Link to comment Share on other sites More sharing options...
Spudders Posted 11 August, 2012 Share Posted 11 August, 2012 BC does not want liquidation or the revenue from the PP's will be lost. In liquidation he will get only a small amount back But hasn't it been mentioned somewhere within this thread that IF there were no football club left then the rule that says their dump of a ground can't be sold off for non sporting purposes would become meaningless. Thus the land could then be sold, with BC making a major deposit into his tesco bank account at his local fratton branch? Link to comment Share on other sites More sharing options...
ALWAYS_SFC Posted 11 August, 2012 Share Posted 11 August, 2012 Oh bless. Nice to see my old home town doing their bit Salisbury 2 - skates 0 Apparently it finished 5 nil.....PMSL Link to comment Share on other sites More sharing options...
Torres Posted 11 August, 2012 Share Posted 11 August, 2012 This is definitely good news for the skates - Chanrai is trying to squeeze as much as he can from Birch/PFK so that he can maximise the amount he can give to Appy for transfer fees and wages to fund their promotion bid. Right? Link to comment Share on other sites More sharing options...
St Marco Posted 11 August, 2012 Share Posted 11 August, 2012 Got to love this new development. Didn't Birch say this only a few days ago.... "‘I understand why nobody wants to lose money – whether they are players or other creditors. Tal Ben Haim is not alone here.’ The likes of Greg Halford, David Norris, Erik Huseklepp and Dave Kitson have sacrificed money owed to them by leaving Pompey in recent weeks. And Birch also pointed to the local businesses and non-football creditors who have effectively written off the debts to try to keep Pompey afloat. He said: ‘Many of his (Ben Haim’s) former team-mates were in the same situation, yet made big sacrifices and showed the club is more important than any individual. ‘Many non-football creditors, some small local businesses, have also told me that they’d be willing to take a personal financial hit in order to keep the club going. ‘And then there’s the pain felt by the club’s employees who lost their jobs or took pay cuts earlier in the year. ‘If we all keep that in mind over the next couple of days then there is hope that the club may survive.’ So everyone should keep that in mind except you Trev? Link to comment Share on other sites More sharing options...
Lord Duckhunter Posted 11 August, 2012 Share Posted 11 August, 2012 Apparently it finished 5 nil.....PMSL 2-1 according to my Skate mate. Link to comment Share on other sites More sharing options...
Torres Posted 11 August, 2012 Share Posted 11 August, 2012 Apparently it finished 5 nil.....PMSL 2-1 according to their O/S. The start of the official report is good too: An inexperienced Pompey XI were beaten by Salisbury in the final friendly of the summer. The Blues' side was mostly made up of members of the development squad, with a handful of trialists also featuring. Much like their line up for next Saturday. Only without the trialists. WTFILN? Link to comment Share on other sites More sharing options...
St Marco Posted 11 August, 2012 Share Posted 11 August, 2012 Why didn't they play their experienced side then? Link to comment Share on other sites More sharing options...
badgerx16 Posted 11 August, 2012 Share Posted 11 August, 2012 Much like their line up for next Saturday. Only without the trialists. Isn't the cup game with Plymouth on Wednesday ? Link to comment Share on other sites More sharing options...
EastleighSoulBoy Posted 11 August, 2012 Share Posted 11 August, 2012 Looks like the fun's started earlier than we thought it would. From the Pompey News Chainrai threatens to walk away from Pompey over adminstrator-fee dispute BALRAM Chainrai has threatened to walk away from Pompey in a dispute over administration fees. Mr Chainrai’s firm Portpin has been poised to take on Portsmouth Football Club again after the sale of Liam Lawrence was confirmed yesterday. Discussions have been ongoing between Portpin and administrators PKF to finalise arrangements. But the takeover is now in jeopardy because a deal on PKF fees – believed to be £1.8million – cannot be met. Speaking to The News, Mr Chainrai said: ‘Me and my business partner Levi Kushnir are very depressed with the situation over the fact PKF have refused to do a compromise deal over their fees. ‘Because they are failing to do a compromise with fees, there’s no way to move forward and take the club out of administration. ‘We are waiting for them to follow through on this. ‘We will be waiting, but we won’t be waiting for long.’ Administrator Trevor Birch has not confirmed the amount, but said negotiations are taking place. He said: ‘Over the past six weeks or so I have been striving – in very difficult circumstances – to fulfil the terms of the CVA with Portpin. ‘This is so the club can come out of administration before the new season starts and have the best opportunity to move forward in a positive manner – as all the fans and employees of the club want to see. ‘At such a critical stage it is inappropriate to conduct confidential negotiations through the media and therefore until matters are finalised, one way or another, I do not intend to make any comments.’ Hang in there Agents Birch & Jackson (No! not THAT Jackson ). It'll be well worth the whipround you nutjobs! Link to comment Share on other sites More sharing options...
saint si Posted 11 August, 2012 Share Posted 11 August, 2012 Isn't the cup game with Plymouth on Wednesday ? Even better, it's Tuesday. Link to comment Share on other sites More sharing options...
EastleighSoulBoy Posted 11 August, 2012 Share Posted 11 August, 2012 I don't think TB has any need to do a deal at all. Otherwise, the next football club they are Administrator for (and there will be a next one), any potential purchaser will just chop their fees at the last minute. Won't happen imo. Don't hold your breath but I bag Dec 2012 in any sweepstake. Dec 2012 PFC(2012):company In Administration v HMRC Link to comment Share on other sites More sharing options...
Gemmel Posted 11 August, 2012 Share Posted 11 August, 2012 Come on the Chinny A few words from the past 8 weeks may come back to haunt you Mr Birch...... And they are all your very own. Time to call an emergency partner meeting at PKF :lol::lol: Link to comment Share on other sites More sharing options...
Torres Posted 11 August, 2012 Share Posted 11 August, 2012 (edited) Isn't the cup game with Plymouth on Wednesday ? It is, but I would not be at all surprised if they forfeit it. Edit - it's actually Tuesday, as Saint Si says. Edited 11 August, 2012 by Torres Link to comment Share on other sites More sharing options...
Lurkster Posted 11 August, 2012 Share Posted 11 August, 2012 A reply to this http://www.portsmouth.co.uk/sport/pompey/pompey-past/chainrai-threatens-to-walk-away-from-pompey-over-administrator-fee-dispute-1-4154861 bruzon 5:41 PM on 11/08/2012 I said it when Birch came out saying all the players had to leave... With the restrictions currently imposed by the league the only way would be for the club to be luquidated and that Birch needed to do it quickly. Unfortunatley it looks like Birch was setting up the club to be liquidated in a mannor hat would ensure it could not rise again. This time next year it pains me to say it Fratton Park could be a housing estate so as to pay birches liquidation fees... I'm in tears Birch, Chainrai, Gaydamak and the football league will be to blame! But who will care... 1 reply (1) (1) Rate: King Kanu The Great 5:45 PM on 11/08/2012 Birch, Chainrai and Football League are not too blame, the people to blame are those who spent the millions on one FA cup, the players, the trips abroad, the managers etc etc etc! Woe is not us! We put ourselves in this situation! Why dont you get it? Pompey football club did this to itself! We still robbed nearly 150 million from the tax man! Most business would be wipped of the face of the earth, but the Premiership protected us, but the Football League do it right. :-s Link to comment Share on other sites More sharing options...
Pamplemousse Posted 11 August, 2012 Share Posted 11 August, 2012 Daniel Barrett @Scannadan So glad to see some of the #pompey youth getting a first team run out. Results aside, this is how it should be #PuP Finally, some of them are finally getting it. Link to comment Share on other sites More sharing options...
Panda Posted 11 August, 2012 Share Posted 11 August, 2012 But hasn't it been mentioned somewhere within this thread that IF there were no football club left then the rule that says their dump of a ground can't be sold off for non sporting purposes would become meaningless. Thus the land could then be sold, with BC making a major deposit into his tesco bank account at his local fratton branch? In liquidation the administrator will sell the ground and the proceeds will be distributed amongst the creditors (after deduction of administrators expenses of course!). BC does not get the proceeds directly, he will get a proportion of it in line with his total share of the debts. Liquidation is surely not in BC's interests so what is he playing at - he is a cunning fox so he obviously has a plan but what is it? However, apart from perhaps a tarnished reputation, liquidation is a good option for TB as his company stand to make more money from fees. Why should he budge to accommodate BC? Link to comment Share on other sites More sharing options...
hutch Posted 11 August, 2012 Share Posted 11 August, 2012 In liquidation the administrator will sell the ground and the proceeds will be distributed amongst the creditors (after deduction of administrators expenses of course!). BC does not get the proceeds directly, he will get a proportion of it in line with his total share of the debts. Liquidation is surely not in BC's interests so what is he playing at - he is a cunning fox so he obviously has a plan but what is it? However, apart from perhaps a tarnished reputation, liquidation is a good option for TB as his company stand to make more money from fees. Why should he budge to accommodate BC? Doesn't it get distributed amongst the secured creditors first until they're paid in full before it goes to the unsecured creditors? And isn't Chainrai the only secured creditor? So won't he get it all, less expenses? Link to comment Share on other sites More sharing options...
Saint in Paradise Posted 11 August, 2012 Share Posted 11 August, 2012 TB was appointed at the suggestion of HMRC. Too much of a conspiracy theory to suggest that HMRC said to TB 'drag it out as long as you possibly can for as big a fee as you can' in the hope that HMRC can finally exact revenge? The bigger the fee the more Tax HMRC can get, the only way they can get Tax from anyone at PFC. Also it's looking a bit more like my prediction about getting to Friday, asking for a postponement and then going bang on Monday 20th could win the sweepstake. Come on BC walk away this week and TB liquidate them. Link to comment Share on other sites More sharing options...
manji Posted 11 August, 2012 Share Posted 11 August, 2012 Theyve just banned another P***ey fan from POL. His crime was saying they are obsessed with Saints fans posting on there. Which makes him automatically a Saints fan undercover apparently ! Sounds like POL is having a communal nervous breakdown to me. Link to comment Share on other sites More sharing options...
Spudders Posted 11 August, 2012 Share Posted 11 August, 2012 I assume to even join POL these days you have to go through some sort of strict Q&A session to prove you are not a scummaaaaa? Link to comment Share on other sites More sharing options...
Winchester Red Posted 11 August, 2012 Share Posted 11 August, 2012 I assume to even join POL these days you have to go through some sort of strict Q&A session to prove you are not a scummaaaaa? You mean they have their own FPPT. how ironic Link to comment Share on other sites More sharing options...
Pamplemousse Posted 11 August, 2012 Share Posted 11 August, 2012 Neil Allen @pn_neil_allen So Portpin reneged on Appleton's budget. Now Portpin haggling over administrators' fee. More energy-sapping games. Yet again. #Pompey He's annoyed Neil Allen... BC even more of a legend Link to comment Share on other sites More sharing options...
saint si Posted 11 August, 2012 Share Posted 11 August, 2012 Imagine reneging on what you promise to pay! Link to comment Share on other sites More sharing options...
Colinjb Posted 11 August, 2012 Share Posted 11 August, 2012 Imagine reneging on what you promise to pay! Chainrai truly has embraced the 'Pompey way.' Link to comment Share on other sites More sharing options...
Weston Super Saint Posted 11 August, 2012 Share Posted 11 August, 2012 Imagine reneging on what you promise to pay! It's odd that it's been met with such indignation by the few! Almost as if they expect every bill to be paid in full! Link to comment Share on other sites More sharing options...
Merovingian Posted 11 August, 2012 Share Posted 11 August, 2012 only got 3 posts so quick question - what exactly is you want to happen ? Personally for me Plan B with a trust based club, the fact that chinny is baulking is as far as I am concerned and many others great news. I am assuming if we are "liquidised" The Trust will have the opportunity to purchase Fratton Park for what the administator thinks its worth. By the way - strangely the Wessex league only has 17 teams in it at the mo Link to comment Share on other sites More sharing options...
gaz Posted 11 August, 2012 Share Posted 11 August, 2012 Phoenix club, taking the shell of PFC but none of the history or accolades, starting in a lower tier. Link to comment Share on other sites More sharing options...
Danish Saint Posted 11 August, 2012 Share Posted 11 August, 2012 Daniel Barrett @Scannadan So glad to see some of the #pompey youth getting a first team run out. Results aside, this is how it should be #PuP Finally, some of them are finally getting it. Here's another one: Gary Bell @pompeygary @SogaardS Agreed we may have to play the youth. #Pompey Link to comment Share on other sites More sharing options...
Spudders Posted 11 August, 2012 Share Posted 11 August, 2012 only got 3 posts so quick question Mero, having 3 posts doesn't mean you need to be quick. If anything taking your time would be better, make them last Link to comment Share on other sites More sharing options...
View From The Top Posted 11 August, 2012 Share Posted 11 August, 2012 only got 3 posts so quick question - what exactly is you want to happen ? Personally for me Plan B with a trust based club, the fact that chinny is baulking is as far as I am concerned and many others great news. I am assuming if we are "liquidised" The Trust will have the opportunity to purchase Fratton Park for what the administator thinks its worth. By the way - strangely the Wessex league only has 17 teams in it at the mo My position has always been a supporter based phoenix club would have universal support, even from us. The diseased dog that is the current club needs killing. Link to comment Share on other sites More sharing options...
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