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Pompey Takeover Saga


Fitzhugh Fella

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If this is a taster for them supposedly getting away with it

 

Will do me. Let's see them live within their means for the first time in about 12 years

 

And as I said, fair play to them if they actually do play what they can afford. If they lose every week at least they can say it was all legal and above board. You just know they will moan about being competitive though...

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Depressed?? I think this is all highly amusing. Let them have a slow lingering death so that this thread can continue. Watching their team of triallists and no hopers struggle this season will provide us with many laughs.

 

Suicidal? The biggest danger to life comes from someone dying from laughter.

 

I should have put in a smiley winky thing. I'm not UnAppy at all, quite the opposite in fact. Unlike a certain manager, who along with Trevor and the not-so-magnificent 8, who have been well and truly Chinnied.

 

I thought of getting a dozen or so of these as gifts, but have realised I'll need a lot more if I'm to include the phew who forked out money for season tickets and now want their money back.

 

blitheringidiotmug_9m10.jpg

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I assume that UnAppy will be able to get some loans in from West Brom for the league season, as he's got till Friday afternoon to register them.

 

I think he can get loans until 30 August as well as freebies and purchases but they have to be out of admin first.

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Maybe I am completely wrong here, but how has Birch's fee hit £2m?

 

That is the figure Pompey Pravda and the knuckle daggers are throwing around, although at the creditors meeting I am sure Birch stated the PKF fees would be circa £700k.

 

I presume the remainder circa £1.3m was actually the money that PKF paid in to keep the club afloat, (the 5k per week for players that wasn't deferred) and paying staff to run the club. So it's not like Chinny is haggling a discount on fees, he is asking them to take a haircut and give him credit terms!

 

Breathtaking if so.

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£100 profit courtesy of Bet 365. Backed Plymouth -1, -2 and -3. Going to be a fun season. Hope the media keep up the plucky Pompey b0llix and the bookies suck it up.

 

Good work, I wonder how much we've all collectively won tonight at their misfortune!

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Maybe I am completely wrong here, but how has Birch's fee hit £2m?

 

That is the figure Pompey Pravda and the knuckle daggers are throwing around, although at the creditors meeting I am sure Birch stated the PKF fees would be circa £700k.

 

I presume the remainder circa £1.3m was actually the money that PKF paid in to keep the club afloat, (the 5k per week for players that wasn't deferred) and paying staff to run the club. So it's not like Chinny is haggling a discount on fees, he is asking them to take a haircut and give him credit terms!

 

Breathtaking if so.

 

I think it's all fees... from the PKF report of April 2012:

 

"Our post appointment time costs to 30 March 2012 are £524,262 representing 1,647.8 hours at an average hourly rate of £318."

 

So bearing in mind they were appointed on 17th Feb, that is for only 6 weeks' work! So roughly £350k a month.

 

Over 4 months have elapsed since 30 March... £350k per month equates to another £1.4m... which added to the £500k above is £1.9m, which is pretty close to the figure claimed by Birch.

 

Expensive business this insolvency lark!

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I think it's all fees... from the PKF report of April 2012:"Our post appointment time costs to 30 March 2012 are £524,262 representing 1,647.8 hours at an average hourly rate of £318."So bearing in mind they were appointed on 17th Feb, that is for only 6 weeks' work! So roughly £350k a month.Over 4 months have elapsed since 30 March... £350k per month equates to another £1.4m... which added to the £500k above is £1.9m, which is pretty close to the figure claimed by Birch.Expensive business this insolvency lark!
But I would imagine entirely reasonable in comparison to their competitors? Do businesses typically stay in admin so long?
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I think it's all fees... from the PKF report of April 2012:

 

"Our post appointment time costs to 30 March 2012 are £524,262 representing 1,647.8 hours at an average hourly rate of £318."

 

So bearing in mind they were appointed on 17th Feb, that is for only 6 weeks' work! So roughly £350k a month.

 

Over 4 months have elapsed since 30 March... £350k per month equates to another £1.4m... which added to the £500k above is £1.9m, which is pretty close to the figure claimed by Birch.

 

Expensive business this insolvency lark!

 

Wow, that is great going by PKF in that case, Birch might win an a Honourary Nutjob Award at the end of this.

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I've just sent an enquiry/complaint to the FL about Pompey playing Ashley Westwood as an unregistered player in the game earlier. I don't see how he was allowed to play as somebody brought in as a coach under the player transfer embargo. I'll let nutjobs know whether I get a response.

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And as I said, fair play to them if they actually do play what they can afford. If they lose every week at least they can say it was all legal and above board. You just know they will moan about being competitive though...

 

While I agree with your comments to some extent, I can't bring myself to say 'fair play' to them as they have not chosen to play with what they can afford, it's been imposed on them. Under the embargo they can't sign anyone and will have been liquidated if the high earners had not left so in effect they were forced into living within their means by the rock & the hard place.

 

If they'd done it off their own back, only then IMO will they deserve the 'fair play' congratulations.

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Right, now all we need are some comments from down that way saying how Cup Runs aren't important and the evening will have been perfect

 

Comments from the News -

 

Pompeyinsurrey

11:23 PM on 14/08/2012

 

Fair play to the supporters that went tonight, it's shameful that chainrai has absolutely no respect for that support, the manager or players. League cup is not important, frankly though I can't see us kicking a ball in the league, and the way things are that's probably a blessing. I don't think anyone, Birch, the football league or anyone else has the slightest clue how to deal with this almighty mess.

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I think it's all fees... from the PKF report of April 2012:

 

"Our post appointment time costs to 30 March 2012 are £524,262 representing 1,647.8 hours at an average hourly rate of £318."

 

So bearing in mind they were appointed on 17th Feb, that is for only 6 weeks' work! So roughly £350k a month.

 

Over 4 months have elapsed since 30 March... £350k per month equates to another £1.4m... which added to the £500k above is £1.9m, which is pretty close to the figure claimed by Birch.

 

Expensive business this insolvency lark!

 

£318 per hour is probably a fair price for TB's time, however that is an average figure so includes the time spent by secretaries, accounts juniors, credit controllers etc etc. Having been on the receviving end of a few bad debts, it does make you blood boil how much an administrator can hoover up even in the most simple of cases. I remember a case when one of the big four accountancy firm ran an insolvency and the fees were over ten miilion leaving around £25,000 to be distributed to the creditors.

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Right, now all we need are some comments from down that way saying how Cup Runs aren't important and the evening will have been perfect

 

Comments from the News -

{Pompeyinsurrey

11:23 PM on 14/08/2012

 

Fair play to the supporters that went tonight, it's shameful that chainrai has absolutely no respect for that support, the manager or players. League cup is not important, frankly though I can't see us kicking a ball in the league, and the way things are that's probably a blessing. I don't think anyone, Birch, the football league or anyone else has the slightest clue how to deal with this almighty mess. }

 

League Cup might not be important ? It might be their last game, that would be HISTORIC !

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And next in the ORLY stakes....

 

Appy will no doubt say.......

 

We had reassurances from ëverybody" ever since the Admin process started. IF I HAD KNOWN WHAT MIGHT HAPPPEN I would have given some of the younger players experience of the bench last season....

 

 

You know it is going to come, that's why this thread is soooooooooooooo much fun

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And next in the ORLY stakes....

 

Appy will no doubt say.......

 

We had reassurances from ëverybody" ever since the Admin process started. IF I HAD KNOWN WHAT MIGHT HAPPPEN I would have given some of the younger players experience of the bench last season....

 

 

You know it is going to come, that's why this thread is soooooooooooooo much fun

 

A slight understatement there old bean ...... barely 30 mins later and Bang a Punchline which will have them rolling in the aisles at God's End of The M27.

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Breaking on Sky Sports News.

 

Chainrai withdraws bid to buy the Skates!!

 

It's either true or a bargaining tactic; similar to the one common in the Far East when buying counterfeit goods at a market stall, where one turns to walk away when quoted a price hoping that the vendor pleads for you to return, offering a lower price.

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Now for the really funny bit - the trust have to get the "bestest fans in the world" to convert their pledges into real, actually money.

 

All 1600 of them.

 

Can someone confirm, is their bid based on 75% or 90% conversion?

 

Clearly, both are total fantasy. I'd say c.50%?

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