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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Jack

Jack

Posted
Posted
He did me when I had a go at him over his report of the derby. He doesn't like being made to look stupid.

 

Then you'd think he'd put a bit of effort in to make it harder for people to make him look stupid?

I suppose there's no educating some people, terminally unintelligent.

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melmacian_saint

melmacian_saint

Posted
Posted

I think Pompey's Winter of Discontent is coming round this year.

 

Can imagine hot water and heating being cut from Fortress Fatpipes sometime in October, and all those exploited players leaving for warmth somewhere else.

 

After all, "Crisis? What crisis?" has been their motto along the last 2 seasons.

 

Maybe then that'll mean at least 15 years out of League football for the deluded lot, just like the lefties back then.

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brightspark

brightspark

Posted
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I see that the signings of these 10 are still not completed and are subject to FA and FL approval...

 

I've been scavenging around for some information on this too. It seems nothing is definitive. The only wording I have found that may suggest this is from the Portsmouth News, who state that 'they are available for the Cherries' or something to that effect. But being the Portsmouth News, that can't be taken seriously.

 

It would be HILARIOUS if the Football League did go tough and not allow at least some of these players to sign.

 

Who is to say that yesterday's signings was a desperate attempt from Birch and co to not only sell more tickets for Bournemouth, but to sell more Season Tickets?!?!?! Birch continues to say he hopes the deduction will be discounted even though we know the Football League will not be. People say Pompey could be in admin all season, but that just isn't financially viable. So they will have to take the hit at some point. Yet the phew lap this up as the chance to start on 'zero'. More Season Tickets sold? Hmmmmmm....

 

all very hopeful I know, the Football League will surely let them sign once paperwork is checked over.

 

More interested in our season now it's about to begin.

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Gruffalo

Gruffalo

Posted
Posted

Birch on Solent this morning saying that he's expecting pressure from creditors to liquidate now that there is cash in the bank; that the timescale for a takeover by PST is 'tight'; that he hopes PST will be in a position to proceed by end of next week; that the compromise agreements already agreed with players will have to be looked at again..

 

With the Trust stating that they'll still be collecting pledges in December, those plucky once-were-heroes who will need to agree to take a further haircut on monies owed and the council's loan which was secured on (and to be paid direct from) remaining PPs, I can't see how they will be ready to move by next Friday..

 

Will be interesting to see if this is just another of TB's elastic 'deadlines'..

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saint si

saint si

Posted
Posted
Birch on Solent this morning saying that he's expecting pressure from creditors to liquidate now that there is cash in the bank; that the timescale for a takeover by PST is 'tight'; that he hopes PST will be in a position to proceed by end of next week; that the compromise agreements already agreed with players will have to be looked at again..

 

With the Trust stating that they'll still be collecting pledges in December, those plucky once-were-heroes who will need to agree to take a further haircut on monies owed and the council's loan which was secured on (and to be paid direct from) remaining PPs, I can't see how they will be ready to move by next Friday..

 

Will be interesting to see if this is just another of TB's elastic 'deadlines'..

 

Pressure from creditors? Has he forgotten on whose behalf he is working?

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Guan 2.0

Guan 2.0

Posted
Posted
The News has learned that the football creditors are owed around £8-9m following compromise agreements.

 

The supporters’ trust said if it took ownership at Fratton it would scrap that agreement and offer the creditors just £2m, paid through parachute payments. It has also agreed to use the parachute payments to repay the council’s loan in full.

 

 

But an email from Premier League lawyers – seen by The News – to the city council said if funds were to be pre-assigned by the administrator then it would render any future plans by a new owner to spend the money ‘impossible’.

 

Which makes their signing of players even more ridiculous.

 

As Walsall fans point out.. http://walsall.web-fans.com/2012/08/portsmouth-sign-ten-ahead-of-season-kick-off/

 

The new signings are sure to ignite League One clubs and fans alike, with many believing the club should not be allowed to sign players while the financial position of the club remains on such a tight rope; players who arrive with a bit of pedigree and can not be afforded by those who live within their means.

 

But still the phew say spend, spend, SPEND!

The council has the money sat in an account they can draw on! dont let them tell you otherwise! this is an important part of our city's identity and all they're worried about is losing votes from those against the idea.

 

If PFC goes under the council will lose loads just in their parking permit scheme in the area. Add to that the rates of local business that are kept going by matchday revenue and the increased visitor numbers to Gunwharf and local hotels etc etc the list goes on and on! All we need now is for them to grow some nuts and give the thumbs

 

That's right, PFC MAKE money for local businesses..

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saintjay77

saintjay77

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

 

He blocked me when I said the club was shameless when it went on about pre-season trips abroad when its fleaced so many. He doesnt like a ballenced argument does he?

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Saint86

Saint86

Posted
Posted
Done some digging on the 'quality' of their latest 'quantity' : ( admittedly courtesy of Wikipedia ).....

Izale MacLeod released from L2 Barnet

Kieran Djilali released from L2 AFC Wimbledon

Mustapha Dumbuya 10 apearances last season for Doncaster

Jon Harley released from L2 Rotherham

Brian Howard released by Reading ( last played on loan at Millwall 26th December 2011 )

Lee Williamson released by Sheff Utd

Simon Eastwood released by Conference North Halifax

Jack Compton released from Falkirk ( 'tore up his contract' )

Luke Rodgers released by Lillestrom ( and has had at least 3 arrests for assault or public order )

Liam Walker from Gibraltar[/QUote]

 

McLeod WS top scorer in league 2 last year... for barnet... who almost got relegated. Clearly a useful player. As are others in this list. It is a disgrace that hey are able to sign players at all. Let alone being able to outbid other teams for hem

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hutch

hutch

Posted
Posted

A few random thoughts:

 

1. It must be costing them around £100k a month more to pay the PKF team to run the company rather than a new executive board + support staff commensurate with a L1 club with turnover c. £5m. That's £1.2m a year up in smoke.

 

2. Birch is simply giving the PST an opportunity to make him a proper proposal. Their previous business plan is in the bin, where it should be, because most of the assumptions proved to be wrong, and now they have a chance to see if they can come up with a real one. How long? Who knows.

 

3. Those "monthly rent a team" players are probably playing for next to nothing to keep themselves in the window while clubs are still recruiting for the season ahead. There is a recession on, and a lot of people inside and outside football have lost their jobs and had to take what they can get to keep their heads above water

 

4. Watch Chinny. He won't be chuffed that the first thing they've done is sign the players he told them not to sign. The only person to benefit from pushing them into liquidation right now is Chinny, even if it's HMRC that wind them up. Chinny has a fixed and floating charge as far as I remember, so that spare cash is his.

 

Why oh why can't they see it coming? The best they can hope for is to be taken over by the PST, paying off the old clubs debts with ....... new debt? If they could just get past that "we have to play at Fratton Park" dogma they could have quite a bright future, and a lot of fun on the way.

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The Kraken

The Kraken

Posted
Posted
Anyone know what mechanisms are available to creditors now to push the administrator to liquidate if they deem it to be in their interests?

Probably a winding-up petition. Although that would have to go before the courts which would take time.

 

Birch is playing a very dangerous game here if he strings things along with no chance of the trust taking over.

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dubai_phil

dubai_phil

Posted
Posted

Tancredi Palmeri ‏@tancredipalmeri In last 48 hours Southampton made the right bid:Gaston Ramirez joins Southampton for around 19m €: 13m € to Bologna, 6m € to Penarol

 

Tony Husband ‏@TonyHusbandBBC

#pompey Challenge now listening to Trevor Birch this morning is for Trust to prove it can raise the money, and soon for community buy out.

 

 

My Twitter Feed..

 

WTFILN

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alpine_saint

alpine_saint

Posted
Posted
A few random thoughts:

 

1. It must be costing them around £100k a month more to pay the PKF team to run the company rather than a new executive board + support staff commensurate with a L1 club with turnover c. £5m. That's £1.2m a year up in smoke.

 

2. Birch is simply giving the PST an opportunity to make him a proper proposal. Their previous business plan is in the bin, where it should be, because most of the assumptions proved to be wrong, and now they have a chance to see if they can come up with a real one. How long? Who knows.

 

3. Those "monthly rent a team" players are probably playing for next to nothing to keep themselves in the window while clubs are still recruiting for the season ahead. There is a recession on, and a lot of people inside and outside football have lost their jobs and had to take what they can get to keep their heads above water

 

4. Watch Chinny. He won't be chuffed that the first thing they've done is sign the players he told them not to sign. The only person to benefit from pushing them into liquidation right now is Chinny, even if it's HMRC that wind them up. Chinny has a fixed and floating charge as far as I remember, so that spare cash is his.

 

Why oh why can't they see it coming? The best they can hope for is to be taken over by the PST, paying off the old clubs debts with ....... new debt? If they could just get past that "we have to play at Fratton Park" dogma they could have quite a bright future, and a lot of fun on the way.

 

This trust bid is never going to fly. There are too many fingers in the cookie jar.

 

They are so f**ked. I do not understand why they are not withdrawing and regrouping using the PST funds, ready for next season wherever they are placed in the Leauge heriarchy....

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rallyboy

rallyboy

Posted
Posted

let's get some balance here....

 

 

Reasons for nutjobs to be irritated.

pompey seem to have ripped up the rule book and signed loads of players while ignoring debt - again.

Appy is boasting about having a new budget, when in fact he has no money at all.

They've delayed their points penalty punishment and been treated leniently compared with other clubs.

We're going to face another media campaign about plucky strangers battling for the shirt, and the fantastic bestest packing 14K into the fortress of fat.

If they overturn the penalty they could be competitive with their new squad.

The few are getting all gobby again now they think they've pulled another fast one.

If we lose at Man City they'll be all over us like Avram at a wet teeshirt contest.

 

 

Reasons to be nutjob cheerful.

That picture of the bus!

The Trust business plan is £15M short.

Clever Trevor says they have seven days to collect their pledges and get their act together.

Also next week the Trust needs to convince former players to throw away millions, before the dust has even settled from their shafting by Birch.

The Trust cannot meet the criteria of the council loan, meaning they cannot buy the ground.

 

For the first time the business is worth more to Chanrai, dead than alive - his best return is to get at that floating £3M of PP and the ground, right now.

 

The players they've signed are not going to be ripping up trees - let's remember that these are mainly the runts of Lg1 and Lg2 litters.

Also there has been no approval yet for these signings - which offers comedy potential.

Delusion is still rife across the island.

Their pipes are full of fat and the clock is stuck on 1950.

Kanu's lawyer is still calculating his claim.

There's an old woman out there on a mobility scooter.

They WILL get a points penalty.

Their heroic manager really isn't up to much.

The business is not sustainable long term due to the massive creditor deals.

The few cannot grasp the basic elements of pantomime, it's not that difficult to decide whether someone is heroic, or a nasty villain.

We're playing the champions.

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ringwood

ringwood

Posted
Posted

If the money being used for the non contract players is the released match by match season ticket money, what happens when its an away game? the players arn't the only wages or costs whose paying for the backroom staff at the club? the gas the elec, the rates to the council

the PP earmarked for the former heroes so Birch can't afford this to go on too long.

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hutch

hutch

Posted
Posted
If the money being used for the non contract players is the released match by match season ticket money, what happens when its an away game? the players arn't the only wages or costs whose paying for the backroom staff at the club? the gas the elec, the rates to the council

the PP earmarked for the former heroes so Birch can't afford this to go on too long.

See Plymouth match reports

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Gorgiesaint

Gorgiesaint

Posted
Posted
http://www.newsnow.co.uk/A/593579114?-11209

 

Birch sets another deadline, yeh right,

 

I love the line...

 

It can't take too much longer, I hope by the end of next week we will have a good idea of what is going to happen.

 

No 5hit shurlock!! The administrator has just set a deadline of next week, so just the funds to raise, get the FL to agree the business plan, the players to re-negotiate with as well as getting Chinny to agree to a deal for Fortress Fatpipes. I've already got a pretty good idea of what's going on, as have most on here... not so sure about the PST though!!

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St Jim

St Jim

Posted
Posted
: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........

 

It's what I have alluded to a few pages back.

 

Given the predicted admin costs are running at approximately 10k per day and if, what has been previously mentioned, the PST may take up until Dec to be in a position to make a bid, then that will be a further 1.2m for the trust to find, so either they need to find a further 1,200 mugs or they need to ask existing pledgers to pay nearly double.

 

It certainly looks like the figures may not add up (now where have I heard that before?)

 

December is months away but don't worry, she's already rehearsing in case she's required sooner.........

 

6a00d8341c5d9653ef0120a805a9b8970b.jpg

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dubai_phil

dubai_phil

Posted
Posted
Gutted reading former Saint Brian Howard has joined the even fewer few and will be captain. Hope he ensures they go out of existence before his month contact ends. :(

 

Actually I don't blame Howard at all.

 

He is out of work. All he has done is to guarantee a minimum of one month's salary (yeah right)

 

It also means that he will get some competitive football and can still find a proper club at ANY time as he is NOT on a contract.

 

In a global recession like we have and for a player towards the end of his career earnings wise, personal survival comes first.

 

On top of that, we should congratulate him for draining their cash - better to be paying him than saving it for the PST bid

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PES

PES

Posted
Posted

 

You have spectacularly missed pretty much the entire 'moral' arguement of this thread. I remember being told all about 'Karma' re gloating at predicaments etc etc. Wow, we really could be going full circle (again). Better get protesting fellas, you are spending WAY too much, especially on wages, though the fee dwarfs anything Pompey have paid. Enjoy, as the truth is, just like us, unless you start protesting now, its completely out of your hands what the club do with the finances you truelly arent 100% party too. :)

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View From The Top

View From The Top

Posted
Posted
You have spectacularly missed pretty much the entire 'moral' arguement of this thread. I remember being told all about 'Karma' re gloating at predicaments etc etc. Wow, we really could be going full circle (again). Better get protesting fellas, you are spending WAY too much, especially on wages, though the fee dwarfs anything Pompey have paid. Enjoy, as the truth is, just like us, unless you start protesting now, its completely out of your hands what the club do with the finances you truelly arent 100% party too. :)

 

Unlike you skate cu.nts the money being paid is already being questioned regarding the sense of the spend & unlike you skate cu.nts, it would appear that we can afford it.

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eurosaint

eurosaint

Posted
Posted
You have spectacularly missed pretty much the entire 'moral' arguement of this thread. I remember being told all about 'Karma' re gloating at predicaments etc etc. Wow, we really could be going full circle (again). Better get protesting fellas, you are spending WAY too much, especially on wages, though the fee dwarfs anything Pompey have paid. Enjoy, as the truth is, just like us, unless you start protesting now, its completely out of your hands what the club do with the finances you truelly arent 100% party too. :)

 

Bloody hell, a Skate preaching about 'morality' !

You couldn't make it up, you really couldn't !!

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pedg

pedg

Posted
Posted

Another from the annuls of 'you could not make it up', from the BBC rolling news page...

 

FOOTBALL

Portsmouth manager Michael Appleton hopes to bring in another seven players ahead of the club's opening League One match against Bournemouth tomorrow.

Appleton signed 10 players yesterday - all on one-month contracts. Reading goalkeeper Mikkel Anderson is expected to join on loan today, as will Chelsea midfielder Conor Clifford. Appleton is also working on loans for winger Jordan Obita from Reading and Celtic defender Josh Thompson. Other trialists include former Crystal Palace and Stoke midfielder Tom Soares.

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andysstuff

andysstuff

Posted
Posted
Unlike you skate cu.nts the money being paid is already being questioned regarding the sense of the spend & unlike you skate cu.nts, it would appear that we can afford it.

 

Beat me to it. The point is no one down the road ever questioned the reckless spending, even though it was obvious that it was all built on spectacularly shifting sands. At least we are having a debate about whether the spending's justified.

 

Can't see us blowing £150m more than our income on one poxy cup and the prospect or non league obscurity

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COMEONYOUREDS

COMEONYOUREDS

Posted
Posted
Gutted reading former Saint Brian Howard has joined the even fewer few and will be captain. Hope he ensures they go out of existence before his month contact ends. :(

 

He was desperate to join saints a year ago, all he wants is to be back in hants with his family which you can understand.

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COMEONYOUREDS

COMEONYOUREDS

Posted
Posted
You have spectacularly missed pretty much the entire 'moral' arguement of this thread. I remember being told all about 'Karma' re gloating at predicaments etc etc. Wow, we really could be going full circle (again). Better get protesting fellas, you are spending WAY too much, especially on wages, though the fee dwarfs anything Pompey have paid. Enjoy, as the truth is, just like us, unless you start protesting now, its completely out of your hands what the club do with the finances you truelly arent 100% party too. :)

 

laughable!

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