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Pompey Takeover Saga


Fitzhugh Fella

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One of my skate mates reckons that the admin bill is going up quicker than the pledges are coming in & that the month at a time signings are from the ring fenced ST money which is being released a game at a time.

 

:facepalm:

 

That's what I said about 5 pages ago.

 

It ain't Rocket Science, which is why it is GOOD NEWS.

 

Dear Patient due to the war we only have enough blood to transfuse you for 12 months if we only give you a quarter of what you need. It means you will feel like sh1t but we may find a miracle cure in this year.

 

Sod that give me the full whack.

 

But you'll be dead in 3 months and we certainly won't find a cure that quick.

 

To hell with that I have a hot date with my twin sisters & her cousin and they promised me they'd show me a threesome like what that Dubai-Phil talked about. I want it NOW I need to look my best........

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So its nonsense that the -10 gets applied when you exit admin. As I thought. Some people have very short memories; Mawhinney and co slapped us with the -10 the second we went into admin.

 

Yet Pompey get special dispensation, and now the next step is that they think they can get away with no points deduction. And as usual, they will probably get their way.

 

This is rapidly taking on farcical proportions. The FL are making themselves look either biased or complete mugs.

 

Rapidly losing faith in the English game. I still burn with anger when I think about how West Ham avoided the proscribed punishment over the Tevez business.

 

-10 is IRRELEVANT. IT means absolutely SOD ALL.

 

Until the last week of the Season.

 

No deduction now allows the FL to see what OTHER rules they break (FCR for example) and ALLOWS THEM the opportunity to make it a Lutonesque -27 WHEN IT MATTERS.

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It really beggars belief, doesn't it?

I can accept that the deluded phew are simple island-dwelling inbreds who revere Neil Allen as the village wise-man. But Bircho & Appy must have some understanding of the true nature of their financial plight, as indeed must those players.

So unless either Bircho & Appy just don't care anymore, or the swamp-gas has infected their brains, they must see how crass and unsustainable signing all his '£4million budget' players is, even if only for a month.

Or are the players so utterly deluded after mixing with the above that they are prepared to play for next to nothing for a month because they still genuinely believe there is a £5k/week contract at the end of the rainbow?

As ever, events on the septic isle surpass fiction.

Edited by sidthesquid
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The second ten points is nothing to do with exiting an admin. it's for failing to pay the last one. Crystal Palace last season never got a further -10 on exiting admin.

 

That's because they had an agreed CVA. The Portsmouth -10 will be enforced on leaving admin because until they are taken over there's no punishment for them not paying the last CVA, because theoretically they still could.

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Guess the weekly wages time... I am taking into account the standard of living they will require also.

 

Izale MacLeod released from L2 Barnet - £2K (goal scorer)

Kieran Djilali released from L2 AFC Wimbledon - £1.5K

Mustapha Dumbuya 10 apearances last season for Doncaster - £1.5K

Jon Harley released from L2 Rotherham - £2K (seniority)

Brian Howard released by Reading ( last played on loan at Millwall 26th December 2011 ) - £2.5K (seniority and captain)

Lee Williamson released by Sheff Utd - £2.5K (turned down a new contact at Sheff Utd)

Simon Eastwood released by Conference North Halifax - £1K

Jack Compton released from Falkirk ( 'tore up his contract' ) - £1K

Luke Rodgers released by Lillestrom ( and has had at least 3 arrests for assault or public order ) - £2K (goal scorer)

Liam Walker from Gibraltar - £1K

 

Plus

 

Ashley Harris - £1K

the other one - £1K

 

 

So that's £19K per week before any other signings that will follow. And I've probably underestimated overall (my estimates not Badger's to be clear).

Edited by TopGun
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Reaction from Bournemouth fans on twitter earlier on

 

f5djl1.jpg

 

Not really surprising. Bompey were held under a very tight embargo and were forced to play their youth side and, as mentioned earlier, the FL wouldn't even allow them to sign Steve Lovell who was prepared to play for free. Their GK coach came out of retirement just to sit on the bench, it was considered unlikely that he would be able to play, it was just for show.

 

I really can't believe how leniently they're being treated and yet they continue to moan about being put upon by the authorities or have ludicrous conspiracy theories about Birch being sent to liquidate them out of spite.

 

I'm in disbelief that they're being allowed to make these signings.

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I didn't actually see anyone say "they can't do 2 close seasons in admin as it's against FL rules" but it's been implied, so I'm pointing it out now in case anyone didn't know.

 

Buggered if I can actually find it in the rules though.

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I didn't actually see anyone say "they can't do 2 close seasons in admin as it's against FL rules" but it's been implied, so I'm pointing it out now in case anyone didn't know.

 

Buggered if I can actually find it in the rules though.

They have to be out of admin on the day before the kick-off of next season. ( This is from a football perspective, not sure how company law sees anybody running in administration for more than 12 months )

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This is a plaster being administered to a gaping wound. It might stem a bit of beeding for a short while - and give Birch credit for keeping a dying man a short reprieve - but all of this is just throwing good money after bad, a last desperate fling of the dice if you like. A month from now this car crash will hit its final brick wall.

It would have been interesting had ML not materialised whether our administrator - whose name temporarily escapes me, was it Fry - would have managed to have kept out life support machine on as long as Birch has managed.

 

I am starting to have doubts re the integrity of the FL however, esp as Lampitt is now all of a sudden a creditor.

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Not really surprising. Bompey were held under a very tight embargo and were forced to play their youth side and, as mentioned earlier, the FL wouldn't even allow them to sign Steve Lovell who was prepared to play for free. Their GK coach came out of retirement just to sit on the bench, it was considered unlikely that he would be able to play, it was just for show.

 

I really can't believe how leniently they're being treated and yet they continue to moan about being put upon by the authorities or have ludicrous conspiracy theories about Birch being sent to liquidate them out of spite.

 

I'm in disbelief that they're being allowed to make these signings.

 

I was at Bournemouth in the midst of it. I never once thought they would die out though and sure enough they didn't. Tight knit group of players with a great team spirit and got promoted not long after the mess was sorted out.

 

Stupidly though they could be back in it very soon. Their new investor is far too shady and we all know about Mitchell.

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There is a reference to "The League also adopted rules that prevented any side from being in administration for either two successive seasons or eighteen consecutive months" here : http://en.wikipedia.org/wiki/Administration_(British_football)#cite_note-11 but nothing to confirm it. There's therefore no detail about whether that starts counting from the end of the season, the close season, the start of the next season, etc.

 

But it does mean that they can't start 2013/14 in admin, so even if they develop a new model for signing non-contract players, they're still getting a -10 at some point in the next 12 months and 1 week.

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They have to be out of admin on the day before the kick-off of next season. ( This is from a football perspective, not sure how company law sees anybody running in administration for more than 12 months )

 

There is a reference to "The League also adopted rules that prevented any side from being in administration for either two successive seasons or eighteen consecutive months" here : http://en.wikipedia.org/wiki/Administration_(British_football)#cite_note-11 but nothing to confirm it. There's therefore no detail about whether that starts counting from the end of the season, the close season, the start of the next season, etc.

 

But it does mean that they can't start 2013/14 in admin, so even if they develop a new model for signing non-contract players, they're still getting a -10 at some point in the next 12 months and 1 week.

 

Just about ties in then. ;) But that's more than 18 consecutive months, isn't it ?

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It won't be so easy to bully the 8 players who agreed compromises to make a further deduction this time though will it.

 

They've gone.

 

Are the knuckle draggers going to charters planes to Israel or where ever to hound TBH?

 

It was easy when they were forced to train and play in friendlies in front of the mad phew. I also doubt they read much of Neil Allen's cr*p either

 

pfc are in the past and any that make out they care are pretending

 

Plus judging by the reports of Birch spending the £12m Parachutes on settlements from Chainrai, all of the current money SHOULD be gone already.

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This is a plaster being administered to a gaping wound. It might stem a bit of beeding for a short while - and give Birch credit for keeping a dying man a short reprieve - but all of this is just throwing good money after bad, a last desperate fling of the dice if you like. A month from now this car crash will hit its final brick wall.

It would have been interesting had ML not materialised whether our administrator - whose name temporarily escapes me, was it Fry - would have managed to have kept out life support machine on as long as Birch has managed.

 

I am starting to have doubts re the integrity of the FL however, esp as Lampitt is now all of a sudden a creditor.

 

Where have you been FF?

 

Lampitt applied to become a secured, golden ticket, football creditor when they went into admin - or just before?

 

Neil Pompey Pravda Allen missed this little gem at the time as he was far too bust foaming at the mouth and protesting the innocence of the Russian pension stealing mafia owner.

 

It is amusing that they are able to once again circumvent the rules by signing players on a monthly non contract, contract. I expect the FL will be closing this loophole quicker than Avram's trouser come down..... nah, you know the rest, Rallyboy has been telling us for way over a year now!

 

The interesting thing though, is that they can 'technically' continue to trade in administration for the rest of this season, confirming to come out of admin the day after the season ends. During this time, they can continue to sign the non contract contracts every month, thus circumventing the FL's stipulation that they are under a transfer embargo! They will also circumvent the -10 that the league have imposed for when they do come out of admin - thus it will be applied next season! And to top it all off, they can completely ignore the FL's financial prudence measures as these won't become effective until after they come out of admin! NOTE, THIS IS ALL "TECHNICALLY" POSSIBLE!

 

Whether it will actually happen is another thing altogether. Although the best thing, if it did happen, it would ensure that every single last penny of PPs would be paid to Birch and PKF!

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Interesting section from that article:

 

"But despite the positive tenor of yesterday’s commentary, the prospect of an orderly restructure for the insolvent club remains as remote as ever. Indeed, the Daily Telegraph can reveal that the £3.4 million parachute payment from the Premier League, received last week, could paradoxically increase the threat of liquidation.

The funds are currently being used as working capital to keep the club trading into the season. However some creditors may seek to wind up the club now in the knowledge that, due to the Premier League windfall, their dividend would unusually be greater in liquidation than through a rescue."

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Just about ties in then. ;) But that's more than 18 consecutive months, isn't it ?

 

http://www.journalonline.co.uk/Magazine/48-12/1000674.aspx#.UC1TW7XSgoM

 

"In England, the position is similar in the divisions below FAPL, whereby the Football League, which administrates the divisions, has approved new regulations forming an “Insolvency Policy” commencing in season 2004-05. In this policy, sporting sanctions may be applied, namely the deduction of up to 10 points automatically upon a club entering administration, along with a maximum time period of 18 months in which a club may be permitted to remain in administration before membership of the league is terminated."

 

That's a brick wall across the tracks on August 13th next year.

Edited by badgerx16
It's the 13th not the 17th.
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Just checking, they went into admin on 13th February 2012, so 18 months is 13th August 2013 ? Which as 2013/14 will be a World Cup year is likely to be after the season starts. Thereby giving them the maximum possible time to remain in admin from the time they announced it until the time they have to come out of admin.

 

Jesus, they did a lot of maths that didn't involve costs or paying for things when they chose their admin date didn't they ?

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They have to be out of admin on the day before the kick-off of next season. ( This is from a football perspective, not sure how company law sees anybody running in administration for more than 12 months )

 

Administration generally only lasts for up to 1 year, although this can be extended by the consent of the creditors and/or by the court.

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Just reminiscing - has it really been 3 years?

 

UAE "Billionaire" takeover

 

http://www.portsmouth.co.uk/news/local/dr-sulaiman-al-fahim-i-ll-build-a-great-club-for-the-fans-1-1232788

 

It is no secret that many clubs had expressed an interest in speaking with me and our investment group

 

The billionaire sees making Pompey a brand name in Asia as a big part of his future plans for the club

 

Skate fan views: http://www.portsmouth.co.uk/news/local/pompey-fans-can-t-wait-for-august-1-1232702

 

Karl Hodgkins, 46, from The Crossway, in Fareham, said: 'I think it sounds fantastic. That's good news. Hopefully it's like the Manchester City takeover – with lots of money.

 

'Sacha did well. He invested lots of money and we won the FA Cup
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Cant believe the FL is doing this ....could be the way forward for ALL L1 and below clubs , just sign free players on month by month non contracts !!! think of the fiscal advantages.

 

1) If a player doesn t perform its bye bye at the end onf the month.

2) If a player gets injured you dont have to pay him after one month for sitting medics bench.

3) In the black hole that is the closed season May to early August you have no players wages because you null there contracts every month.

 

Will save lower league clubs a fortune , the PFA wont be happy though.

 

The right thing to have happened IMHO today not only for the credibility of Football but also in the long run for Pompey was Liquidation and expulsion from the League .

 

Really start again its your chance !!!!

 

Never mind the FL, why would any decent player sign under these conditions if they have a prospect of a longer-term contract elsewhere? They should probably get themselves some new agents.

Unless of course, there are some clauses inserted guaranteeing automatic extension if some minimal conditions are met. But this is Pompey we are talking about, they wouldn't be so dumb, would they?

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All very cloudy as a relevant Portsmouth councillor informed me that PFC had received £5.58m last week as PPs, not £3.4m as in the Telegraph article.

 

The question is whether TB is diverting the PPs from creditors as operating capital or whether he is operating PFC on current expected football revenues from expected season ticket sales and match day walk-ups.

 

If he is diverting PP cash allocated by himself to secured and unsecured creditors then he's running a speculative venture based on the PST finding the funds or another buyer turning up. That could put TB right in the doo-doo as the person who is meant to be representing the best interests of the creditors. I'm sure HMRC, Portpin and the ex-players' advisors are watching closely with a view to a challenge.

 

It does seem TB has gone native in an attempt to keep his reputation of saving clubs unblemished.

Edited by TopGun
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Interesting section from that article:

 

"But despite the positive tenor of yesterday’s commentary, the prospect of an orderly restructure for the insolvent club remains as remote as ever. Indeed, the Daily Telegraph can reveal that the £3.4 million parachute payment from the Premier League, received last week, could paradoxically increase the threat of liquidation.

The funds are currently being used as working capital to keep the club trading into the season. However some creditors may seek to wind up the club now in the knowledge that, due to the Premier League windfall, their dividend would unusually be greater in liquidation than through a rescue."

 

Sets it up perfectly for HMRC's revenge after being screwed for £40+ million by the business.

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Never mind the FL, why would any decent player sign under these conditions if they have a prospect of a longer-term contract elsewhere? They should probably get themselves some new agents.

Unless of course, there are some clauses inserted guaranteeing automatic extension if some minimal conditions are met. But this is Pompey we are talking about, they wouldn't be so dumb, would they?

 

I think most of them are planning on using it as a shop window to get a decent deal somewhere else, but they have to have the club's consent to release their registration even if they're not playing for them...

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I just went on to Facebook and made a post about how the PFC fans can look in a mirror knowing how much shafting and intimidation has been going on down there relating to creditors, as they embark on their latest transfer activity.

 

I have a friend from University that comes from Portsmouth and supports PFC. He was a right lefty, sermonising on everything, playing the guilt card over some historical footnote, etc. etc. I reckon you all know the type. I was shocked when he posted back, in quite a smug manner, that he looked in a mirror and had no problems whatsoever.

 

Really astounded. A supposedly intelligent Socialist has as much of a "F**k that" attitude as morons such as Neil Allen.

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Ooops, forgot that.

 

Why is it split then ? Why not just subtract 20 points for going into admin in the first place ?

 

Seems a bit spiteful to again kick a club staggering back to its feet.

 

how come we only got -10 once ?

 

We got -10 for going into admin, but as Saint Markus paid off the debts, there was no need for a CVA afair. The delightful details of this was covered in this thread recently.

 

Basically, we were hit by new stadium and relegation, while the banks had to tighten their purses. Bad luck, but thanks to Markus, we can hold our heads high - we took our medicine, player the kids, got our relegations, but we have left no unpaid debt in our trail...

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I've been watching a movie on TCM tonight.

 

I had a few drinks beforehand. Unfortunately due to UAE legislation, they in no way put me in the right "State of Mind" to even begin to understand the movie I watched.

 

And that was when it hit me.

 

About 8 pages ago some skate was quoted as to why we were obsessed with this thread and with them.

 

Thing is we are not obsessed. Just like the Movie I watched, this thread is the same. It was Car Crash TV, and no doubt when it came out, it was a Car Crash movie that only "Stoners" could understand.

 

And yet, today, 30 years after it was released, it is a classic. And it mirrors every event down the road. Hell, most of the lines from the movie we have heard in the past 3 years.

 

Hell the last 10 minutes of the movie TOTALLY sum up everything that has gone on down the road

 

Here are the PST & CHinny

 

All alone, or in two's,

The ones who really love you

Walk up and down outside the wall.

Some hand in hand

And some gathered together in bands.

The bleeding hearts and artists

Make their stand.

 

And when they've given you their all

Some stagger and fall, after all it's not easy

Banging your heart against some mad bugger's wall.

 

Here was TB today

Ooooh, Ma, Oooh Pa

Must the show go on?

Ooooh, Pa. Take me home

Ooooh, Ma. Let me go

 

There must be some mistake

I didnt mean to let them

Take away my soul.

Am I too old, is it too late?

 

Ooooh, Ma, Ooooh Pa,

Where has the feeling gone?

Ooooh, Ma, Ooooh Pa,

Will I remember the songs?

The show must go on.

 

And on the PST bid TB's thoughts

 

Is there anybody out there?

Is there anybody out there?

Is there anybody out there?

Is there anybody out there

 

CHinny

 

Goodbye cruel world,

I'm leaving you today.

Goodbye,

Goodbye,

Goodbye.

 

Goodbye, all you people,

There's nothing you can say

To make me change my mind.

Goodbye.

 

The PTS

 

By pouring their derision

Upon anything we did

And exposing every weakness

However carefully hidden by the kids

But in the town, it was well known

When they got home at night, their fat and

Psychopathic wives would thrash them

Within inches of their lives.

OK well, apart from the whole bondage thing at the end it's pretty close - but then that will be Us when we draw them in the FA Cup

 

Hell, there was even a quote from TBH in there

 

Stop!

I wanna go home

Take off this uniform

And leave the show.

But I'm waiting in this cell

Because I have to know.

Have I been guilty all this time?

 

The Wall by Alan Parker. It makes no sense.

 

And yet, in years to come, one day, like many of us lucky souls on this planet we will (or have) watch (or watched) Roger Walters before our Thread

 

All in all it's just another Brick in the Wall

 

Of Tesco's Fratton Park

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We got -10 for going into admin, but as Saint Markus paid off the debts, there was no need for a CVA afair. The delightful details of this was covered in this thread recently.

 

Basically, we were hit by new stadium and relegation, while the banks had to tighten their purses. Bad luck, but thanks to Markus, we can hold our heads high - we took our medicine, player the kids, got our relegations, but we have left no unpaid debt in our trail...

 

And posted a cheque to Arriva (Norwich Union) for £4m when we got promoted as reported on here. If the same boot were on a fishy foot I am sure they would have found a reason not to honour that agreement.

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I've been watching a movie on TCM tonight.

 

I had a few drinks beforehand. Unfortunately due to UAE legislation, they in no way put me in the right "State of Mind" to even begin to understand the movie I watched.

 

And that was when it hit me.

 

About 8 pages ago some skate was quoted as to why we were obsessed with this thread and with them.

 

Thing is we are not obsessed. Just like the Movie I watched, this thread is the same. It was Car Crash TV, and no doubt when it came out, it was a Car Crash movie that only "Stoners" could understand.

 

And yet, today, 30 years after it was released, it is a classic. And it mirrors every event down the road. Hell, most of the lines from the movie we have heard in the past 3 years.

 

Hell the last 10 minutes of the movie TOTALLY sum up everything that has gone on down the road

 

Here are the PST & CHinny

 

 

 

Here was TB today

 

 

And on the PST bid TB's thoughts

 

 

 

CHinny

 

 

 

The PTS

 

OK well, apart from the whole bondage thing at the end it's pretty close - but then that will be Us when we draw them in the FA Cup

 

Hell, there was even a quote from TBH in there

 

 

 

The Wall by Alan Parker. It makes no sense.

 

And yet, in years to come, one day, like many of us lucky souls on this planet we will (or have) watch (or watched) Roger Walters before our Thread

 

All in all it's just another Brick in the Wall

 

Of Tesco's Fratton Park

 

 

The first time I watched that movie I was completely out of my tree on acid. Watched it again a few days later when I came back down to earth and it still made no sense. Maybe that's what the Phew are banking on... waking up and realising it has all just been a bad trip, they're not going insane - not even a tiny bit - and everything will be normal again soon.

 

And who the hell is this Roger Walters bloke?

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And posted a cheque to Arriva (Norwich Union) for £4m when we got promoted as reported on here. If the same boot were on a fishy foot I am sure they would have found a reason not to honour that agreement.

 

Which is why we can protest when people try to compare our situation with Pompey's. There's nothing similar except the 'admin' label...

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If that article is correct then surely as TB's job is to get the best deal for the creditors then he must now liquidate the skates.

 

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Just been blocked by that ****c()nt Neil Allen after tweeting him once. What an absolute **** he is.

 

Seems all the skate fans are losing the plot.

 

I am currently engaged in a pitch-battle on Facebook with somebody who I thought was a friend who appears to be getting hysterical.

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