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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella
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Torres

Torres

Posted
Posted

I suspect this may be more brinkmanship from Chinny. Expect a statement later along the lines of

The administrator's exhorbitant fees have left me with no choice but to rescind my offer, with regret.

 

Alternatively, Chinny sees a greater return by handing the ground to the Trust or via liquidation. I don't care which.

Gingeletiss

Gingeletiss

Posted
Posted
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.

 

.....and convince all those players who have just signed compromise agreements, that they have to wipe out about 80% of what they have just agreed to.

rallyboy

rallyboy

Posted
Posted

so are Sky jumping the gun and catching up on the fees dispute, or have they got something concrete?...or is Chinny playing extra-hardball as he knows he's the only real game in town?

Most likely wants to pay nearly nothing on Friday afternoon, though Trev says he needs three days to liquidate so....over to you Birchy.

 

 

What are the gutsy young battlers going to do this weekend if they aren't allowed to play Bournemouth?

They'll just be hanging around outside shops.

These young people are already loitering with criminals, it will only get worse, this is not a good development for society. :(

Torres

Torres

Posted
Posted
.....and convince all those players who have just signed compromise agreements, that they have to wipe out about 80% of what they have just agreed to.

 

Oh yeah, forgot about them. I wonder how many of the bestest will turn up at the gates of the PAOK training ground to ask their former ticket office manager to kiss goodbye to more cash?

Waterside.saint

Waterside.saint

Posted
Posted
Breaking News: Balu Chainrai withdraws bid to buy Portsmouth. #SSN

 

 

bahahahaha

 

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.

 

I feel humbled. Just when I was blaming Providence, the Football League, the Court Service and anyone else with influence over their destiny for a manifest failure to give them their come-uppance... it happens :)

Almost restores my faith in human nature :D

trousers

trousers

Posted
Posted

@GregHalford15: What the hell is Chanrai doing???????? Him and birch are taking the p**s. birch has never had the clubs best interests in mind! ??

trousers

trousers

Posted
Posted

@skysports_bryan: Chainrai: "Portsmouth suddenly received additional huge claims from former players/management such as Hughes, Brown, Kanu and Lampitt."

trousers

trousers

Posted
Posted

@skysports_bryan: Chainrai blames FL for 10pt deduction and "last straw.. manager told press.. he is sure of another relegation." What now? #portsmouth

trousers

trousers

Posted
Posted

@skysports_bryan: Chainrai gives reasons for pulling out: "lack of support" from fans, admin fees, "£12m on.. player compromises & fees." #portsmouth

sussexsaint

sussexsaint

Posted
Posted

I frickin told you he was looking for any excuse to pull the plug - those FL conditions meant he would be watched like a hawk so he couldn't pocket the PP, he was looking for ANY scapegoat - the players and now Birch

Thedelldays

Thedelldays

Posted
Posted

I'm unsure if this means they are getting away with it??? Old nick?

 

Also, I will assume the trust take over. All sorts of self congratulating going on for a few weeks, then the reality of zero money will hit the average Pompey fan and the moaning will start

 

Also, I give it till the end of the season before whoever is made king, has loads of other trustees gunning for him

Oh, relegation is almost a certainty

 

Old nick, getting away with it?

pedg

pedg

Posted
Posted (edited)

http://www1.skysports.com/football/news/11674/7990365/Chainrai-withdraws-Pompey-bid

 

"Portpin Ltd regrets to announce that it is withdrawing its bid for Portsmouth Football Club.

 

"Unfortunately, our efforts to save the club once more from extinction have hit a wall of rejection and lacking co-operation from the administrator and other interested parties.

 

"We are not the ones who have caused the club to collapse and we are not the ones to choose PKF as administrators .

 

"As history has recorded, we sold the club over a year ago after saving it from liquidation and unfortunately found ourselves again fighting to try and save the club from another liquidation.

 

"Through this administration process over the last six months we have always had the club's best interest in mind - unlike many parties who were involved in the process.

 

"We repeatedly encouraged the administrator to find a new, willing and able buyer to take over the club - unfortunately he was unsuccessful in this job and couldn't find a buyer despite his promises!!

 

"Later he approached us to be his safety net to save the club as he couldn't find a buyer. We agreed in the effort to avoid liquidation of the club.

 

"We welcome and will assist anyone, including the supporters trust to try and save the club in the coming days."

Edited by pedg
View From The Top

View From The Top

Posted
Posted

I asked this last night.

 

No matter how much they throw a paddy, BC will be taking over. :D

 

Now, if he didn't, would the PST offer then have to be put to creditors & then have them 28 day cooling off period before exiting admin?

 

And, if BC rejected the PST offer and then they exited admin' without an agreed CVA am I correct in saying that would be another -17?

Faz

Faz

Posted
Posted
@GregHalford15:birch has never had the clubs best interests in mind! ??

 

I'm not sure any Administrator would have that in his job description

Waterside.saint

Waterside.saint

Posted
Posted
I'm unsure if this means they are getting away with it??? Old nick?

 

Also, I will assume the trust take over. All sorts of self congratulating going on for a few weeks, then the reality of zero money will hit the average Pompey fan and the moaning will start

 

Also, I give it till the end of the season before whoever is made king, has loads of other trustees gunning for him

Oh, relegation is almost a certainty

 

Old nick, getting away with it?

 

This^

They are so screwed

:D

seaempty

seaempty

Posted
Posted

I bet Portsmouth Council are getting a bit edgy now. Or are their conditions for the loan so strict that they're not likely to part with their money in any event?

trousers

trousers

Posted
Posted

@skysports_bryan: Chainrai: "Our efforts to save club from extinction have hit wall of rejection and lacking cooperation from administrator.." #portsmouth

andysstuff

andysstuff

Posted
Posted

Jesus, I cycle to work and it all kicks off! Bet those councillors over there are getting worried they may have to cough up almost a million and a half pounds from somewhere.

Waterside.saint

Waterside.saint

Posted
Posted (edited)
0837:

FOOTBALL

 

Portsmouth administrator Trevor Birch tells the BBC he is unaware of reports that Balu Chainrai has withdrawn his bid to buy the club.

 

Oh how funny.

And this after publicly running the administration via the media :D

Edited by Waterside.saint
Faz

Faz

Posted
Posted

I was told that last night the ref flipped the coin for kick off and both sets of players started fighting for the 10p.

edprice1984

edprice1984

Posted
Posted

Trevor obviously doesn't have Sky Sports, which is strange considering the fees he is charging. You would have thought an extra £20 per month would be within his budget...which is quite ironic considering the Skates probably can't afford a TV license

Torres

Torres

Posted
Posted

Pompey mongs on twitter getting really, really excited about the prospect of PST ownership now.

 

It's shame it's highly unlikely to happen because I have to agree with them - the PST taking over would be all kinds of awesome.

hutch

hutch

Posted
Posted

There's the reason right there:

 

Portpin Statement

 

- the fact that all the money from the parachute payment which were supposed to carry the club for the next two seasons was spent and committed by the administrator on players' compromises and fees : total £12million.

trousers

trousers

Posted
Posted
So will a PST offer now have to be put to creditors & then await the 28 day cooling off period??

 

Will that offer only be able to be made once the pledges are in as well as the PCC loan?

 

Good questions. How much more will PKF / Birch be owed if these hoops still have to be jumped through I wonder?

pedg

pedg

Posted
Posted

Can't wait for the conversation between the trust and the FA/FL.

 

"Our business plan relies on an upper limit for paying football creditors so we will not be able to pay our football debts in full. Is that okay?"

 

.........

Torres

Torres

Posted
Posted
There's the reason right there:

 

- the fact that all the money from the parachute payment which were supposed to carry the club for the next two seasons was spent and committed by the administrator on players' compromises and fees : total £12million.

 

ALL of it? The "compromise" deals and associated fees totalled £12m? As I suspected, the braves heroes who gave up their contracts to save the club (whilst signing new contracts at other clubs) really didn't give up very much at all, did they? LEGENDS.

trousers

trousers

Posted
Posted (edited)
and finally the last straw yesterday afternoon the manager told the press before the season starts that he is sure of another relegation.

 

So, Appy takes the credit for either (a) being the one to pull the liquidation trigger or (b) being the one who gave Pompey fans a well run club by the Trust for years to come (stop s n i g g e r i n g at the back!)

 

So, which is it to be then? Appy the villain or Appy the hero? Lots of fun ahead watching the fickle Pompey fan-o-meter swinging to and fro...

Edited by trousers
trousers

trousers

Posted
Posted
Are they sure they have the right story here? It could of course mean that Dumbuya has pulled out of contract negotiations and they have read it wrong ;)

 

:lol:

St Jim

St Jim

Posted
Posted
@GregHalford15: What the hell is Chanrai doing???????? Him and birch are taking the p**s. birch has never had the clubs best interests in mind! ??

 

:facepalm:

Quite right too. Birch's interests should be with the creditors not the club.

Gingeletiss

Gingeletiss

Posted
Posted
So, Appy takes the credit for either (a) being the one to pull the liquidation trigger or (b) being the one who gave Pompey fans a well run club by the Trust for years to come (stop s n i g g e r i n g at the back!)

 

So, which is it to be then? Appy the villain or Appy the hero? Lots of fun ahead watching the fickle Pompey fan-o-meter swinging to and fro...

 

 

Here's one vote for hero....

 

Pompey Dave from Devizes Wilts

9:14 AM on 15/08/2012

Brian Swanson live on Sky Sports Radio has just read a statement it finish with him saying that the last straw was the manager stating yesterday that "we will be relagated".

 

Well done MA your a hero

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