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Pompey Takeover Saga


Fitzhugh Fella

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As entertaining as this thread has been, I look forward to the day when Pompey are gone for good. Perhaps this day is very close indeed.

 

They've gotten away with it for long though, they seem to be able to squeeze through any crack no matter how small...

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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

 

Let's be honest though, who else would have walked away? I probably would have. He's getting a **** salary, I wonder how much he's actually made, he deals with nothing but crap, he cannot do anymore.

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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...

 

Who cares - the fact is whether liquidated or not, this ****** will have nothing to do with our club. Even if liquidated we can start Plan B, whichever way anythings better than that *****. I'd happily be relegated again as long as he and the rest of the leeches have gone

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He will still buy them FFS its all just pandering to Birch and the FA to try AGAIN to get away with deserved sabctions and extra costs

 

Slimey bastards

 

I suspect you are right sir. This statement from "Portpin" has got AA's fingerprints all over it IMO... Administrator Wars...coming to a cinema near you soon....

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Who cares - the fact is whether liquidated or not, this ****** will have nothing to do with our club. Even if liquidated we can start Plan B, whichever way anythings better than that *****. I'd happily be relegated again as long as he and the rest of the leeches have gone

 

Indeed. The very point the more obsessed amongst us on here have been making for months, nay years....

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He will still buy them FFS its all just pandering to Birch and the FA to try AGAIN to get away with deserved sabctions and extra costs

 

Slimey bastards

 

If the statement that just about all the remaining parachute payments have been used towards the compromise agreements there is little point in chinny buying them and keeping them alive is there?

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@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!

Birch was HMRC's man. If HMRC cant have thier 60? million of taxes..... revenge is a dish best served cold HeHe! WoaHaHa...

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http://www.itv.com/news/meridian/2012-0 ... r-control/

 

The Pompey Supporters' Trust has released this statement after reports that Balram Chanrai is withdrawing his bid to take over Portsmouth Football Club:

 

"We have today been advised that Balram Chainrai and his company Portpin have withdrawn their offer to purchase Portsmouth Football Club for a third time, leaving the way clear for the Pompey Supporters Trust to be able to take control of our club.We call on Mr Chainrai to do the decent thing, and accept the PST offer to purchase his charge on the club, and therefore walk away from Pompey, regaining some of the money he has lost, and leaving the club in the hands of the people who will truly cherish it and ensure that it continues as both a business and a legacy for the future.SOS Pompey has campaigned for Mr Chainrai to finally leave Pompey, and we hope that this latest news could be the light at the end of the tunnel, which ultimately returns the club to the fans.Portsmouth FC is the lifeblood of the fans and the city, and we ask all supporters of the club, the people of Portsmouth and football as a whole, to support the work of the Pompey Supporters Trust, in their continued efforts to secure its future. Pledges are still wanted, and both these and donations can be made via http://www.pompeytrust.comSOS Pompey intend to hold a peaceful demonstration of our pride in our manager and players before this Saturday’s game against Bournemouth at 2.15pm at the gates of Fratton Park, and we ask all fans to join us in showing how much we appreciate the work of the manager and staff of our magnificent club.

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In Portpin's statement it says that Birch has basically spent the incoming parachute payment on settlements for former players and staff, as predicted on here many a moon ago. Was never going to be a great plan if the goal was to keep Chanrai interested. Love it.

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fancy a subject like this making 1427 sides..!

 

anyway, my one contribution probably reflects some sentimentality in my growing old age..

I do feel sorry for them (or in fact any club in their situation).

 

sounds like some clubs in Conference South may be better prepared for the season...let alone L1.

 

The real sadness is because (unless we draw them in a cup competition again before they really go bust), there may never be another Saints v. Pompey derby game.

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Who cares - the fact is whether liquidated or not, this ****** will have nothing to do with our club. Even if liquidated we can start Plan B, whichever way anythings better than that *****. I'd happily be relegated again as long as he and the rest of the leeches have gone

 

They haven't gone yet though as he still wants ££ & FP may give him that.

 

He certainly fights dirty.

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Birch was HMRC's man. If HMRC cant have thier 60? million of taxes..... revenge is a dish best served cold HeHe! WoaHaHa...

 

Todays Menu ......

 

Cold Fish Starters

Paupiette of salmon

Parcel of fresh & smoked salmon, herb & lemon infused oil

Red mullet & saffron potato terrine

Sun blushed tomato aioli & black olive Crostini

Tian of hot smoked salmon

Bound in herb crème fraiche

Asian style Gravadlax

Bean sprout, chilli & fresh coriander salad

Fresh chargrilled tuna Nicoise

Soft boiled egg, black olives, thyme croutons & fine beans in a simple French dressing

Crayfish, baby spinach & avocado tian

Bound in Gazpacho mayonnaise

Scottish smoked salmon, chive potato blinis

Lemon & lime crème fraiche, Keta caviar

Pan seared Scallops, cauliflower puree

Crispy pancetta & candid lemon

Caribbean shrimp salad

Root ginger & chilli mayo, fresh lime

 

All dishes can be served on Toast.

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Chill peeps.

 

You have all been reading this thread for long enough to realise that CHinny was NEVER going to walk in to the club with his trousers round his ankles and a tube of KY in his hand.

 

He's found out (WHAT WE KNEW ALL ALONG) that the cunning plan (and the FCR) meant that TB's cunning plan - suck the club dry along with the evil players - was a far better plan than CHinny's.

 

Now the games REALLY start. CHinny is screwed, he cannot suck out any more cash (FL stipulation) he has a VERY tough call now - because SUDDENLY the club has a fighting chance of survival (as an entity). Most of the debt has been wiped out, Appy has been b1tch slapped to come up with a sustainable set of financial plans and they now COULD be viable for a high net worth Individual who wants a train set.

 

The DOWNSIDE?

 

Someone HAS to come up with a plan to show the FL they are financially viable while in Admin to begin the season, and can last long enouogh for the PST to actually raise 30% of what they are owed from pledges (hahaha no that will be more like 4% )

 

They have 36 hours to save the club. It is possible now... (It is of course also possible that I will have a 3 some with Jessie J, J Lo & Vickie Pendleton tonight while FMDP brings me perfectly chilled beers. Possible but)

 

Keep the toasters in the box, more panic to watch yet

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In Portpin's statement it says that Birch has basically spent the incoming parachute payment on settlements for former players and staff, as predicted on here many a moon ago. Was never going to be a great plan if the goal was to keep Chanrai interested. Love it.

 

There was always an impossible conundrum : Portpin wanted the high earners paid off, TB had to find the money to do so. How else, given the FC rule, could he have done it ?

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Who cares - the fact is whether liquidated or not, this ****** will have nothing to do with our club. Even if liquidated we can start Plan B, whichever way anythings better than that *****. I'd happily be relegated again as long as he and the rest of the leeches have gone

 

I hope you see that this is to counter the FA cup win. With a team on ridiculous money.

 

Hope the FA Cup, the new roof on the away end and the extra port-a-loos is all worth this

 

I'm loving this

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fancy a subject like this making 1427 sides..!

 

anyway, my one contribution probably reflects some sentimentality in my growing old age..

I do feel sorry for them (or in fact any club in their situation).

 

sounds like some clubs in Conference South may be better prepared for the season...let alone L1.

 

The real sadness is because (unless we draw them in a cup competition again before they really go bust), there may never be another Saints v. Pompey derby game.

 

With the advent of The Bubble - good riddance.

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There was always an impossible conundrum : Portpin wanted the high earners paid off, TB had to find the money to do so. How else, given the FC rule, could he have done it ?

 

pufferchick-1.jpg

 

Why would ANYONE have expected an Asian Business to follow an obscure local British Law of Contract Ruling....

 

When he said get rid of them he meant this. He did not mean, keep them on for a few months and then give them all my money

 

TB is NOT going to be taking any vacations in Asia anytime soon that's for sure

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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?

until the door closes they have got away with it. Dont jump the gun Bc has been ahead of the game all along and now if you notice he is also bringing in the FL -10 points. He is trying to get that pulled as well as the fees. if they survive they have got away with it as most clubs fans would take the glory of FA cup wins etc for the club then to be dumped down to L2. The memories of FA cup wins stay with you forever, add to that fielding teams you cant afford and then beat your fierce rivals twice 4-1 and then nick a last minute draw is priceless. i still have fantastic memories of Stokes 76 , and Moran in 84 something i will never forget. Forget not that most of their fans are newbies and so have had those experiences and can again move back supporting Man U etc. I feel for a few of the few , 'never in the field of football has so much been owed by so few to so many'
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He will still buy them FFS its all just pandering to Birch and the FA to try AGAIN to get away with deserved sabctions and extra costs

 

Slimey bastards

 

I think that's highly unlikely. This is too much of a nuclear option to be a negotiating position.

 

Given the problems with the PST bid: renegotiating the compromise agreements, Chinny agreeing to take £2.75m for his secured charge, getting the pledges paid, meeting the FL conditions; I can't see the match going ahead on Saturday.

 

Break out the toast.

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If all the PPs have gone how can PST borrow from PCC as one of the conditions was that the PPs were controlled by PST?

 

One of the conditions of the PCC loan was that the PL agreed to repay the loan directly to the PCC from the PPs. Now, that can only be done by the "owner" of the club (currently Birchy, as Admin). Birchy won't do that as he's already promised it to the players. If the PST were to become owners of the club they could instruct the PL to pay the PPs to the PCC and then worrry about the players later. Trouble is, they can't become owners without the loan from the PCC, and they can't get the loan unless they're the owners.

 

Joseph Heller had a theory on this.

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until the door closes they have got away with it. Dont jump the gun Bc has been ahead of the game all along

 

I am not sure he has. After all why did he attempt to bribe the court to put AA in charge? If, and it is a fairly big if, Birch has done water tight compromise deals against all the future parachute payments and that birch's hand will be the first in the till for his fee's on liquidation after everything including the ground is sold then chinny could be well and truly stuffed.

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Just a reminder of the statement..........

 

 

'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.

 

'At this moment in time, we feel that:

 

- the negative criticism and lack of support for our takeover by the fans of this club.

 

- the fact that the administrators do not want to compromise on their unrealistic fees.

 

- the fact that suddenly the club has received additional huge football creditors' claims from former players and management such as Hughes, Brown, Kanu, and Lampitt and more.

 

- 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.

 

- the fact that the Football League has decided to deduct 10 points for no reasonable reason and by its decisions didn't show any willingness to help in saving this troubled club.

 

- the fact that the supporters' trust which we met and we voiced our support for their takeover bid could not raise the funds to satisfy the administrator or the Football League and the loan that was promised them by the council had unrealistic terms.

 

- the fact that the club did not get any real support from any official they were all very good at creating headlines.

 

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

 

'All of these facts have left us in a position that we no longer want to fight this battle, we have zero support to save the club therefore we formally withdraw our bid and our honest attempt at saving the club. We will sleep well knowing we did our utmost to save the club. We welcome and will assist anyone, including the supporters trust to try and save the club in the coming days.'

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So the Trust want the Loan Shark to accept their offer for his charge on Fatpipe Park and walk away.................. Ummmmmmm

 

By all accounts Good old Trev negotiated a £12M? settlement with the players.

 

Below is taken from one of their boards showing what the Trust will offer the players.

 

£8.4 at the moment, the trust are asking them to take a further 75% hit.

 

It's achievable, but all hinges on the players.

 

We had a good bunch, let's hope they prove that (TBH aside)

 

So having been hounded out of their contracts by the fans and that hack Allen, they want the players to take another cut......... Ummmmmmmm

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One of the conditions of the PCC loan was that the PL agreed to repay the loan directly to the PCC from the PPs. Now, that can only be done by the "owner" of the club (currently Birchy, as Admin). Birchy won't do that as he's already promised it to the players. If the PST were to become owners of the club they could instruct the PL to pay the PPs to the PCC and then worrry about the players later. Trouble is, they can't become owners without the loan from the PCC, and they can't get the loan unless they're the owners.

 

Joseph Heller had a theory on this.

 

& then after getting the loan, the pledge money etc would they have to put it to the creditors & undertake a 28 day cooling off period before officially coming out of admin?

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One of the conditions of the PCC loan was that the PL agreed to repay the loan directly to the PCC from the PPs. Now, that can only be done by the "owner" of the club (currently Birchy, as Admin). Birchy won't do that as he's already promised it to the players. If the PST were to become owners of the club they could instruct the PL to pay the PPs to the PCC and then worrry about the players later. Trouble is, they can't become owners without the loan from the PCC, and they can't get the loan unless they're the owners.

 

Joseph Heller had a theory on this.

 

BUT

 

The PCC loan was ONLY to buy Nottarf Krap from CHinny. The PP's were paying the money back.

 

So we are now much closer to the scenario we all expected (and that includes the PST & I expect PCC) which is where PST cannot buy the ground so don't need the PCC loan....

 

CHinny's next step is the offer to rent the stadium to them for 1mil a year for 18 years + compound interest at 20% added in as years.

 

PST will not have enough money but it SHOULD get them across the start line on Saturday

 

And Feb next year comes back into play in the sweepstakes

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Who cares - the fact is whether liquidated or not, this ****** will have nothing to do with our club. Even if liquidated we can start Plan B, whichever way anythings better than that *****. I'd happily be relegated again as long as he and the rest of the leeches have gone

 

I'm talking to a Danish Pompey supporter and he is also rejoicing today! The two options (liquidation or PST) are both preferred over Chinny...

 

That said, the PST ought to channel their energy and money into a phoenix club, as the battered and beaten club they are looking at now, still has too much luggage for them to carry forwards...

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Skates truly are the fans that keep on giving:

 

Nobby Clark

@antonydjames got a few teething problems over ownership this year is about surviving, promotion next. Youll be getting smashed every week

 

Teething problems?! Wow, they still think they're going to buy their way out of L1, even after the sanctions the League have placed upon them. What will it take for reality to hit?

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Looks like the Trust are in, their "Business Plan" had more holes in it than Westwood's sock collection.

 

If they do get to take over the Club (I'm genuinely interested to see how many Skates stump up the extra £900 - I might use my 200+ posts over 3 years "character" on POL to announce I was only doing it to show support and only had the £2.50 spare, no way in this climate I can lose another £997.50 on a club that will be relegated) looks like it will be comedy.

 

Straight to business then for the Trust:

 

Last night their one and only League Cup game was watched by only 5k. How many games did their business plan expect from their "Cup runs" and what does the average for these games have to move up to factoring in the initial 5k?

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