Torres Posted 25 August, 2012 Share Posted 25 August, 2012 Won't the Skates just be crunts though and withold their registrations? 59.6 On the expiry of a registration under this Regulation a Player is entitled to sign for any Club of his choice without restriction and without payment of any compensation. Link to comment Share on other sites More sharing options...
EastleighSoulBoy Posted 25 August, 2012 Share Posted 25 August, 2012 Won't the Skates just be crunts though and withold their registrations? They'll just forge the players' signatures. 10 + slips of the pen . . .honist moosh. Link to comment Share on other sites More sharing options...
Dark Munster Posted 26 August, 2012 Share Posted 26 August, 2012 Appy claimed in the Football's Football Show that since the one-month deals finish after the transfer window closes, he'll be able to keep all these players until January. So the DFCSBs think they have a loophole, and the players, who thought they were only tied down for a month, find themselves stuck at the cesspit until January? I wouldn't be surprised if the loophole also included not having to pay the poor sods either. I'm doing a trousers, and buggering off for a week. Hopefully I won't have to come back to catch up on 500 new pages. In honour of trousers, I will sign off with: ... Link to comment Share on other sites More sharing options...
Whitey Grandad Posted 26 August, 2012 Share Posted 26 August, 2012 They had a player sent off yesterday. How can they put out a team for the net game? Link to comment Share on other sites More sharing options...
Gemmel Posted 26 August, 2012 Share Posted 26 August, 2012 In the "Not" so very busy away end at half time, it seems a certain secret millionare is back on the scene........... http://i49.tinypic.com/2ihbkht.jpg Link to comment Share on other sites More sharing options...
View From The Top Posted 26 August, 2012 Share Posted 26 August, 2012 In the "Not" so very busy away end at half time, it seems a certain secret millionare is back on the scene........... http://i49.tinypic.com/2ihbkht.jpg & that's who? Link to comment Share on other sites More sharing options...
JustMike Posted 26 August, 2012 Share Posted 26 August, 2012 Skate numpties on twitter laughing at our empty seats yesterday! Pot - kettle Link to comment Share on other sites More sharing options...
Thedelldays Posted 26 August, 2012 Share Posted 26 August, 2012 Skate numpties on twitter laughing at our empty seats yesterday! Pot - kettle I never get that with them...its like laughing that we don't get 30k...I guess that they admit we have far more number following us Link to comment Share on other sites More sharing options...
St Chalet Posted 26 August, 2012 Share Posted 26 August, 2012 & that's who? Presuming it is Rob Lloyd. Joseph Cala was scuba diving, Brian Howe has had enough of bad company and Laurence Bassini couldn't afford the train fair up. Link to comment Share on other sites More sharing options...
eurosaint Posted 26 August, 2012 Share Posted 26 August, 2012 Just watched the goals on the FL show from last night ! Their defence was abysmal and the guy who got sent off is a CB so no doubt they'll be back in the market for reinforcements ! I just pray that they are not targetting the same CB's as us because we just can't compete against them when it comes to wages Link to comment Share on other sites More sharing options...
Pamplemousse Posted 26 August, 2012 Share Posted 26 August, 2012 http://www.sportingintelligence.com/2012/08/26/the-only-people-who-propose-a-sensible-long-term-vision-for-portsmouth-football-club-are-its-supporters-local-business-and-the-local-authority-260801/ ‘The only people who propose a sensible, long-term vision for Portsmouth football club are its supporters, local business and the local authority’ By Micah Hall 26 August 2012 The long saga of Portsmouth football club’s turbulent ownership drama is set to reach a climactic denouement this week, as administrator Trevor Birch chooses between bids from former owner Balram Chainrai and the Pompey Supporters’ Trust. If the Trust succeeds in taking control of their long-suffering club, it will become the largest community owned club in the country. During Pompey’s meteoric rise to the Premier League and FA Cup winning glory, and their equally cataclysmic descent into the lower leagues, the one constant for press and public has been the supporters: loud, passionate and fanatically dedicated on the field, quietly professional and determined off it. Pompey Supporters Trust was formed in 2009 with the express intention of taking ownership of Pompey out of the hands of speculators and rebuilding the club. Since Sasha Gaydamak’s regime had their money supply choked off, the club has seen a procession of colourful characters come and go, leaving the club perennially bankrupt and somehow in debt to them all. They took the risk and we paid the price. There is a lingering perception that Pompey somehow got away with something. In fact 29 points have been deducted, two bankruptcies and two relegations have followed. Pompey have no players barring the handful signed in desperation on one-month contracts to ensure we actually had a team to take the field. Our youth prospects have been sold for a pittance. The crucial development land needed to rebuild dilapidated, crumbling Fratton Park has been lost, a casualty of the bickering between squabbling former owners. ‘Got away with it’ to Pompey fans sounds a bit like “crucifixion is adoddle”. Which brings us to the present. Portpin, the company owned by Balram Chainrai and Levi Kushnir, came into the Pompey saga in 2009, when they made what might be the worst investment decision in the history of Pompey, or possibly, the world. They decided to lend £17m to Ali Al Faraj, a man who they had never met and who may not even exist. They admitted their motivation for this was to make a short-term profit. Of course, the money was immediately consumed by the roaring flames of debt that were licking around the club in full view of the world. What induced Portpin to loan money to a bankrupt football club is a matter of speculation. What is certain is that their money is gone. Twice they have taken ownership of Pompey using their secured debt: twice they have walked away with even less money. So now they seek a renewed ownership of Pompey. Or do they? They equivocated publicly about whether they would once again seek to resume ownership. Eventually, predictably, they submitted a bid. Following the reaction of supporters they withdrew it again, citing “the negative reactions and criticism of fans”. Jubilation exploded across the internet. Hundreds of season tickets were sold the following day, taking the total over 8,000. Almost 18,000 fans watched the season opener against Bournemouth, despite most buying tickets when the club had no players at all. Celebrations were abruptly cut short when the following week Portpin claimed to have been invited to resubmit their bid following discussions with Portsmouth City Council, administrator, Trevor Birch, the Football League and PFA. Portsmouth News reporter Emma Judd swiftly debunked this claim using the phrase, “they all roundly denied it”, and the hard pressed Pompey fans again showed their wit and chutzpah by ensuring the twitter hash tag #THEYROUNDLYDENIEDIT was trending in the UK. So now Trevor Birch is left on the horns of a dilemma that must make him look back fondly to his days as CEO of Ken Bates Chelsea, when all he had to worry about was beating Liverpool to the Champions League or going into administration. Of course, the criteria for making this decision are not football ones or the answer would be obvious. However, surprisingly, the business decision is just as obvious: Portpin’s ambition is to somehow get their money back within three years according to Levi Kushnir. The fact that Pompey are worth £2m, have no players, a 10-point deduction and Portpin intend to operate on a League 2 playing budget of £1.5m hardly suggests any obvious or reasonable road to recouping large sums. Meanwhile, the Pompey Supporters Trust, has quietly, methodically, professionally, built a compelling business case. Raising £2m in deposit backed pledges from supporters, £1m from local businessmen and a £1.5m loan from Portsmouth City Council is a Herculean effort. It shouldn’t be that surprising though. The Trust contains a series of highly professional and successful local businessmen and is advised by high-calibre insolvency professionals and legal experts. As one online sage pointed out, they aren’t sitting in a pub whirling scarves around their heads. These supporters and business people have shown personal financial commitment that is simply eye-watering. And this is the key: the difference between the two bids is that the Trust aims to put money into Pompey with no expectation of ever seeingit again. Their plan recognises the long struggle ahead: to rebuild a shattered, toxic brand. To create a stable squad, academy and revenue. To win over sponsors who want to be associated with a good news story. Eventually, to rebuild Fratton Park to allow Pompey to bury the old ‘sleeping giant’ tag that has drawn idlers and speculators to the club like moths to a flame. Realistically, only the Trust, guided by genuine love for the club, have shown any appetite for the task of running Pompey according to a sensible business plan: long-term investment plus years of hard work plus customer goodwill equals a better business. The final, and most compelling reason for Trevor Birch to choose the PST bid: his job is to do the best for the creditors. Portpin may be secured creditors, but what they want and what is good for them may not be the same thing. They are being offered £3m to walk away. It’s impossible to see how Portpin taking over will generate more money for them. Not a penny of Pompey’s 2010 Creditors Voluntary Arrangement was paid. If Portpin return a large section of the paying public will once again withdraw their custom. Declining gates, declining revenues, a League 2 budget and a three-year exit plan simply does not reasonably equate to an eightfold increase in the clubs value, or indeed any increase. There is not one single shred of evidence to suggest that this toxic brew will result in Pompey’s long-suffering creditors, including Portpin, being more likely to be paid. This utterly complex, baffling, infuriating saga finally comes down to a very simple premise: everyone benefits from a stable, and growing Pompey. No-one benefits from an unseemly scramble for the last few scraps on the poor man’s table. The only people who propose a sensible, long-term vision for Portsmouth Football Club are its supporters, business and local authority. For football and business reasons, for fans and creditors there is only one realistic option for Birch. Any other decision will surely find us all back here again, all too soon, still trying to understand what the hell is going on at Pompey. Link to comment Share on other sites More sharing options...
Weston Super Saint Posted 26 August, 2012 Share Posted 26 August, 2012 Their plan recognises the long struggle ahead: to rebuild a shattered, toxic brand. To create a stable squad, academy and revenue. Have the trust re-submitted a new bid? Surely they must have, because the old bid said they were categorically closing the academy down in 2 years, yet the sporting life article suggests they are going to rebuild it! I do like the way it suggests that the trust are professional Link to comment Share on other sites More sharing options...
Matthew Le God Posted 26 August, 2012 Share Posted 26 August, 2012 (edited) Why do the Pompey Supporter's Trust claim they will be the "largest community owned club in the country" if they takeover the club? Exeter City for example in League Two are owed by a supporters trust and have over 4,000 members! http://www.ecfcst.org.uk/frequently-asked-questions/ Pompey on the other hand have a mere 1,670 "pledges" of £100 that may or may not turn into £1,000. Pompey maths... 1,670 >>> 4,000+ Edited 26 August, 2012 by Matthew Le God Link to comment Share on other sites More sharing options...
Lazlo78 Posted 26 August, 2012 Share Posted 26 August, 2012 http://www.sportingintelligence.com/2012/08/26/the-only-people-who-propose-a-sensible-long-term-vision-for-portsmouth-football-club-are-its-supporters-local-business-and-the-local-authority-260801/ Hey OldNick, it's for you... Link to comment Share on other sites More sharing options...
rallyboy Posted 26 August, 2012 Share Posted 26 August, 2012 the supporters: loud, passionate and fanatically dedicated on the field, quietly professional and determined off it. What a ridiculous claim - they shouldn't be on the pitch, and they are neither professional nor determined off it. The Trust plans are the desperate scribblings of mad men who cannot see the problems. Do they honestly believe that Chanrai can't do better than £2M from them?? He could do better than that in liquidation tomorrow. And the Carlisle manager says he's astonished at how they strengthened by bringing in players beyond his budget, yet the few still cling onto this desperate plucky underdogs tag, battling to get results aginst all odds. B0ll0x. Just cut the hype and face reality. The Trust bid is nowhere near professional enough in funding nor style. Jotting figures on an envelope back is a great way to plan fixing your nan's fence, but that clumsy approach doesn't impress administrators. Birch has little choice, only one bid is 'professional', even though it's mainly fantasy. As for claiming to be bigger than Exeter, that's just laughable. Link to comment Share on other sites More sharing options...
Merovingian Posted 26 August, 2012 Share Posted 26 August, 2012 lol Rallyboy - neither you or I know the details of the trust's revised bid submitted Friday. Since the 1st bid was made there have been further people come forward with more money to strenghen the bid and I am not talking about pledges. Besides which, if the Trust do take over and it all goes tits up in 2 years time that's the same as what will happen with Chanrai once he pockets the 2 years parachute money and then puts the club in admin again. Going into admin with the trust would be far more palatable than knowing that ***t will do it again anyway in 2 years. Link to comment Share on other sites More sharing options...
Gorgiesaint Posted 26 August, 2012 Share Posted 26 August, 2012 lol Rallyboy - neither you or I know the details of the trust's revised bid submitted Friday. Since the 1st bid was made there have been further people come forward with more money to strenghen the bid and I am not talking about pledges. Besides which, if the Trust do take over and it all goes tits up in 2 years time that's the same as what will happen with Chanrai once he pockets the 2 years parachute money and then puts the club in admin again. Going into admin with the trust would be far more palatable than knowing that ***t will do it again anyway in 2 years. Mero, So do you honestly believe that in the last few weeks, the trust have bridged the £6m gap between the original budget for paying off your heroes/villains & what Birch has agreed with the players themselves? and that's before you start looking at the other holes in the plan, like the £1.45m you won't get from the council if Chinny is still in town. And will it really feel better in 2 years (try 6 months) if the supporters take over and you nosedive into admin again? How does f*cking it up yourself and ending your own history feel better, surely feeling better is getting the phoenix club going without the millstone of the last few years around its neck? Link to comment Share on other sites More sharing options...
sotonswan Posted 26 August, 2012 Share Posted 26 August, 2012 If the Pompey Trust take these very large donationd from 1500+ of Pompey's finest and still manage to screw it all up, what chance of EVER being able to properly fund a Phoenix club some time in the future? There's rather more at stake here than just getting over the starting line. Link to comment Share on other sites More sharing options...
70's Mike Posted 26 August, 2012 Share Posted 26 August, 2012 lol Rallyboy - neither you or I know the details of the trust's revised bid submitted Friday. Since the 1st bid was made there have been further people come forward with more money to strenghen the bid and I am not talking about pledges. Besides which, if the Trust do take over and it all goes tits up in 2 years time that's the same as what will happen with Chanrai once he pockets the 2 years parachute money and then puts the club in admin again. Going into admin with the trust would be far more palatable than knowing that ***t will do it again anyway in 2 years. Starting to sound like the Trust is actually being used as a front for some businessman, surely if the Trust were serious then requests to turn pledges into £'s would be all over the News Link to comment Share on other sites More sharing options...
Hockey_saint Posted 26 August, 2012 Share Posted 26 August, 2012 Who said Pompey's site was back up? it's still down when I went to have a chuckle. Link to comment Share on other sites More sharing options...
merrimd Posted 26 August, 2012 Share Posted 26 August, 2012 Still don't get it. Unless the Trust no longer need the loan from the council, there is no way they can win. PCC will not lend them the money if Portpin are still in. Link to comment Share on other sites More sharing options...
Winchester Red Posted 26 August, 2012 Share Posted 26 August, 2012 Still don't get it. Unless the Trust no longer need the loan from the council, there is no way they can win. PCC will not lend them the money if Portpin are still in. I doubt they'd worry about trivial facts like that. No different to setting aside £2m pounds for ex-players who've agreed settlements to the tune of £8m with TB Link to comment Share on other sites More sharing options...
andysstuff Posted 26 August, 2012 Share Posted 26 August, 2012 Who said Pompey's site was back up? it's still down when I went to have a chuckle. 'Twas I, and it's still there for me. Link to comment Share on other sites More sharing options...
hypochondriac Posted 26 August, 2012 Share Posted 26 August, 2012 'Twas I, and it's still there for me. Up for me too. Link to comment Share on other sites More sharing options...
Frank's cousin Posted 26 August, 2012 Share Posted 26 August, 2012 (edited) I doubt they'd worry about trivial facts like that. No different to setting aside £2m pounds for ex-players who've agreed settlements to the tune of £8m with TB It is good to see the trust well and truely adopting the pompey spirit though and making sure no one who has been agreed payment gets more that 20-25% or much less of that they are owed... which considereing they have been so vigorous in their complaints about all thier owners, it is strange that they are planning to behave in exactly the same way before even taking over... given that publc statement, I call on the FA to ensure they dont pass the FAPPT as I belive they wanted it much stricter in future to prevent those without a pot to **** in, full of s hit and not planning to pay their bills in full to be prevented form owning the club... declaring they will welch upon agreed compromises kinda makes them fall into the shyster category, but good to see they fit right in with the rest of them Edited 26 August, 2012 by Frank's cousin Link to comment Share on other sites More sharing options...
iansums Posted 26 August, 2012 Share Posted 26 August, 2012 Just got back from holiday and had a look at the L1 table to see the Skates on 2 pts. I thought they hat to start this season on -10, am I missing something? Link to comment Share on other sites More sharing options...
Frank's cousin Posted 26 August, 2012 Share Posted 26 August, 2012 Just got back from holiday and had a look at the L1 table to see the Skates on 2 pts. I thought they hat to start this season on -10, am I missing something? In the skate world they deserve 6 pts for a draw... in the real world the -10 cannot be applied until they exit admin as the 'new' CVA diluted the old one so FL have said they will dock another -10 - that said the CCs (cheating c....) believe they might avoid it somehow... Link to comment Share on other sites More sharing options...
Hockey_saint Posted 26 August, 2012 Share Posted 26 August, 2012 Up for me too. Yeah, that was odd, it's up for me using Firefox but was down using IE....odd. Link to comment Share on other sites More sharing options...
pedg Posted 26 August, 2012 Share Posted 26 August, 2012 Yeah, that was odd, it's up for me using Firefox but was down using IE....odd. All probably down to cache, not a problem for pompey as they don't have any. Link to comment Share on other sites More sharing options...
bridge too far Posted 26 August, 2012 Share Posted 26 August, 2012 all probably down to cache, not a problem for pompey as they don't have any. Very good Link to comment Share on other sites More sharing options...
Hockey_saint Posted 26 August, 2012 Share Posted 26 August, 2012 lol that was actually a pretty simplistic solution....and quite a funny answer cheers Link to comment Share on other sites More sharing options...
SaintRichmond Posted 27 August, 2012 Share Posted 27 August, 2012 In the skate world they deserve 6 pts for a draw... in the real world the -10 cannot be applied until they exit admin as the 'new' CVA diluted the old one so FL have said they will dock another -10 - that said the CCs (cheating c....) believe they might avoid it somehow... Under the FL Rules, when is the deadline for a team to exit Admin ?? Can they go the whole of the season IN admin, and thereby "dodge" the -10 ?? Link to comment Share on other sites More sharing options...
Saint in Paradise Posted 27 August, 2012 Share Posted 27 August, 2012 Under the FL Rules, when is the deadline for a team to exit Admin ?? Can they go the whole of the season IN admin, and thereby "dodge" the -10 ?? Yes they can go the whole of this season in admin but they cannot start next season in admin as they would be refused the golden share. Link to comment Share on other sites More sharing options...
tony13579 Posted 27 August, 2012 Share Posted 27 August, 2012 Just got back from holiday and had a look at the L1 table to see the Skates on 2 pts. I thought they hat to start this season on -10, am I missing something? Cva2 fell apart as BC left the table. PST started to put a bid together. Portsmouth council woke up with a 1.45m loan headache. Luckily for PCC BC has come back to the table. -10 will be applied when CVA2 MK2 is proposed. ..... If they don't go pop...... Link to comment Share on other sites More sharing options...
dubai_phil Posted 27 August, 2012 Share Posted 27 August, 2012 There was a lengthy Car Rental Company rant on the Lounge not so long ago. I almost had something to add to that on Thursday. There I am, landed at Gatwick just after lunchtime, collect my rental car get out the entire Multi-Storey thing onto the road, find the radio dial and it pops onto Radio 2. BANG OUCH SCREECH. FFS, first words that came out the radio.... And in Sports News Chanrai has submitted a revised bid for portsmouth.... Luckily the head on wheel was in laughing but I did nearly kill someone as the car shot forward into the roundabout. SPent the next 20 mins wondering whether IF I had hit someone I could claim damages and get on their next creditor list. Then my only chance to look on here I saw the PST had revised THEIR offer. All that in 3 days out of Mission Control. WTF will happen in the next two weeks this weekend when I head off to Poland to spend quality time with the fiture in-laws......? Link to comment Share on other sites More sharing options...
badgerx16 Posted 27 August, 2012 Share Posted 27 August, 2012 (edited) Yes they can go the whole of this season in admin but they cannot start next season in admin as they would be refused the golden share. August 10th ( I think ) is the final stop on the merry go round, as they cannot be in admin for more than 18 months. Edited 27 August, 2012 by badgerx16 Link to comment Share on other sites More sharing options...
St Chalet Posted 27 August, 2012 Share Posted 27 August, 2012 There was a lengthy Car Rental Company rant on the Lounge not so long ago. I almost had something to add to that on Thursday. There I am, landed at Gatwick just after lunchtime, collect my rental car get out the entire Multi-Storey thing onto the road, find the radio dial and it pops onto Radio 2. BANG OUCH SCREECH. FFS, first words that came out the radio.... And in Sports News Chanrai has submitted a revised bid for portsmouth.... Luckily the head on wheel was in laughing but I did nearly kill someone as the car shot forward into the roundabout. SPent the next 20 mins wondering whether IF I had hit someone I could claim damages and get on their next creditor list. Then my only chance to look on here I saw the PST had revised THEIR offer. All that in 3 days out of Mission Control. WTF will happen in the next two weeks this weekend when I head off to Poland to spend quality time with the fiture in-laws......? Good to meet you on Saturday Phil, it will help me identify you at the PTS closing party when they eventually go pop. Link to comment Share on other sites More sharing options...
Winchester Red Posted 27 August, 2012 Share Posted 27 August, 2012 In the skate world they deserve 6 pts for a draw... in the real world the -10 cannot be applied until they exit admin as the 'new' CVA diluted the old one so FL have said they will dock another -10 - that said the CCs (cheating c....) believe they might avoid it somehow... I thought it was because they won 4 of their first 3 matches giving 2 points (-10+12) That works with Skate arithmetic! Link to comment Share on other sites More sharing options...
dubai_phil Posted 27 August, 2012 Share Posted 27 August, 2012 Good to meet you on Saturday Phil, it will help me identify you at the PTS closing party when they eventually go pop. Yeah can't believe you look just like any other nutjob on here Got back safe, FMDP very pleased with her dubai saints home shirt (although bit worried about her inisisting it had AL's number on the back), Eric is the next one back in a couple of weeks but you'll never spot him at SMS as he gets hidden under everyone's feet. But looking forward to the PTS Closing Down party, when it finally happens we will have to have a whole new thread to pick all the music & the menu for the evening... Link to comment Share on other sites More sharing options...
SaintRichmond Posted 27 August, 2012 Share Posted 27 August, 2012 Yes they can go the whole of this season in admin but they cannot start next season in admin as they would be refused the golden share. OK, but what about the -10 How would they avoid it ?? They COULD end up being promoted this season, and, by being still in Admin, AVOID the -10 ?? Please explain Link to comment Share on other sites More sharing options...
badgerx16 Posted 27 August, 2012 Share Posted 27 August, 2012 OK, but what about the -10 How would they avoid it ?? They COULD end up being promoted this season, and, by being still in Admin, AVOID the -10 ?? Please explain They would avoid it by paying the original agreed amount to the creditors of CVA1. If they come out of admin after the end of this season, and stick with the current CVA, they start NEXT season on -10. Link to comment Share on other sites More sharing options...
JackFrost Posted 27 August, 2012 Share Posted 27 August, 2012 OK, but what about the -10 How would they avoid it ?? They COULD end up being promoted this season, and, by being still in Admin, AVOID the -10 ?? Please explain As far as I can see they will either avoid it this season and start next season with -10 (as they'd have to be out of admin by then) or get taken over this season, come out of admin and take the -10 this season. The -10 though relates to CVA1 though I believe? Link to comment Share on other sites More sharing options...
stevegrant Posted 27 August, 2012 Share Posted 27 August, 2012 They COULD end up being promoted this season :lol: :lol: :lol: :lol: Link to comment Share on other sites More sharing options...
MorningtonCrescent Posted 27 August, 2012 Share Posted 27 August, 2012 As far as I can see they will either avoid it this season and start next season with -10 (as they'd have to be out of admin by then) or get taken over this season, come out of admin and take the -10 this season. The -10 though relates to CVA1 though I believe? The -10 does indeed relate to CVA1, although the penalty was imposed because they didn't give the creditors who form part of CVA1 the chance to vote on the revised offer when incorporating CVA1 into CVA2... The scaly phew won't be making that same mistake again. When (if) CVA2 is discussed and implemented, they will surely consult the creditors from CVA1 this time around? If they agree to the new terms, then they still won't get a further -10 points for this second Admin/CVA. Of course, if they're wanting to stay "one step ahead" - as they have managed each stage of the way so far - then they will see how well they are doing this season and "decide" on exiting Admin dependant on a number of factors: 1) Do the creditors from CVA1 agree to the new terms? 2) Do we have enough points to ignore the creditors of CVA1 (whether consulted or not) and take a 10 point hit without it affecting our league position (in either direction) There is still plenty of "wriggle room" for the phew to play with - and stretch the bounds of decency, legality and morality still further! :-/ Link to comment Share on other sites More sharing options...
bridge too far Posted 27 August, 2012 Share Posted 27 August, 2012 The -10 does indeed relate to CVA1, although the penalty was imposed because they didn't give the creditors who form part of CVA1 the chance to vote on the revised offer when incorporating CVA1 into CVA2... The scaly phew won't be making that same mistake again. When (if) CVA2 is discussed and implemented, they will surely consult the creditors from CVA1 this time around? If they agree to the new terms, then they still won't get a further -10 points for this second Admin/CVA. Of course, if they're wanting to stay "one step ahead" - as they have managed each stage of the way so far - then they will see how well they are doing this season and "decide" on exiting Admin dependant on a number of factors: 1) Do the creditors from CVA1 agree to the new terms? 2) Do we have enough points to ignore the creditors of CVA1 (whether consulted or not) and take a 10 point hit without it affecting our league position (in either direction) There is still plenty of "wriggle room" for the phew to play with - and stretch the bounds of decency, legality and morality still further! :-/ This is the bit I don't get. I do understand that they (like us) got a -10 for exiting the first administration. Regardless of whether they eventually get creditors from CVA1 to agree to CVA2, surely they should still get -10 for exiting that second administration also. Link to comment Share on other sites More sharing options...
eurosaint Posted 27 August, 2012 Share Posted 27 August, 2012 The -10 does indeed relate to CVA1, although the penalty was imposed because they didn't give the creditors who form part of CVA1 the chance to vote on the revised offer when incorporating CVA1 into CVA2... The scaly phew won't be making that same mistake again. When (if) CVA2 is discussed and implemented, they will surely consult the creditors from CVA1 this time around? If they agree to the new terms, then they still won't get a further -10 points for this second Admin/CVA. Of course, if they're wanting to stay "one step ahead" - as they have managed each stage of the way so far - then they will see how well they are doing this season and "decide" on exiting Admin dependant on a number of factors: 1) Do the creditors from CVA1 agree to the new terms? 2) Do we have enough points to ignore the creditors of CVA1 (whether consulted or not) and take a 10 point hit without it affecting our league position (in either direction) There is still plenty of "wriggle room" for the phew to play with - and stretch the bounds of decency, legality and morality still further! :-/ Morning Mornington, Nice to see you are keeping up with 'world events' these days !! Link to comment Share on other sites More sharing options...
EastleighSoulBoy Posted 27 August, 2012 Share Posted 27 August, 2012 The -10 does indeed relate to CVA1, although the penalty was imposed because they didn't give the creditors who form part of CVA1 the chance to vote on the revised offer when incorporating CVA1 into CVA2... The scaly phew won't be making that same mistake again. When (if) CVA2 is discussed and implemented, they will surely consult the creditors from CVA1 this time around? If they agree to the new terms, then they still won't get a further -10 points for this second Admin/CVA. Of course, if they're wanting to stay "one step ahead" - as they have managed each stage of the way so far - then they will see how well they are doing this season and "decide" on exiting Admin dependant on a number of factors: 1) Do the creditors from CVA1 agree to the new terms? 2) Do we have enough points to ignore the creditors of CVA1 (whether consulted or not) and take a 10 point hit without it affecting our league position (in either direction) There is still plenty of "wriggle room" for the phew to play with - and stretch the bounds of decency, legality and morality still further! :-/ 2. They'll get hit with more than -10 if they come out of administration without agreeing a CVA, after all it is the FL that they are dealing with and ...........err..................um............FECK! Link to comment Share on other sites More sharing options...
MorningtonCrescent Posted 27 August, 2012 Share Posted 27 August, 2012 This is the bit I don't get. I do understand that they (like us) got a -10 for exiting the first administration. Regardless of whether they eventually get creditors from CVA1 to agree to CVA2, surely they should still get -10 for exiting that second administration also. We didn't get -10 for exiting Admin - we got it for entering Admin, as did the skates. The FL were very clear when they stated the terms for giving PFC2012 the golden share - when they exited Admin - one of those terms was "-10 because the creditors from CVA1 were not given the opportunity to vote for/against the diluting of monies owed under CVA1. The skates OS then ran a news item asking for CVA1 creditors to get in touch - as part of their plan to appeal the -10. If they give the CVA1 creditors the chance to say "yay or nay" to CVA2, then they could have a get out of the -10..... Of course, even if the CVA1 creditors DO vote FOR CVA2, the club could come out admin without agreeing (or paying) a CVA2, if they have sufficient points in the bag to prevent relegation - it would save them some cash! Conversely - if they need the 10 points to remain "competitive" at the top of the table, then they may have to choose another route (ie. not leaving admin or agreeing CVA2) Plenty more twists and turns yet, I think! Whichever way it goes, the most fun is to be had by us and not them! (Hi Eurosaint - good to catch up again yesterday! Perhaps a little earlier to the pub next Sunday?!) ;-) Link to comment Share on other sites More sharing options...
Weston Super Saint Posted 27 August, 2012 Share Posted 27 August, 2012 This is the bit I don't get. I do understand that they (like us) got a -10 for exiting the first administration. Regardless of whether they eventually get creditors from CVA1 to agree to CVA2, surely they should still get -10 for exiting that second administration also. No, no they didn't get -10 for exiting their first [third?] admin two? years ago! They got -9 for entering admin in the prem. They then exited that admin by way of a CVA, which meant the FL did not impose a 10 point penalty - different from us, as technically we exited our admin without agreeing a CVA, as ML had agreed a payment schedule with our creditors. Since SFC was NOT in admin, it was impossible to exit with an agreed CVA - the FL still stung us for -10 on a 'technicality'. PFC then got another 10 point deduction last Feb for once again entering admin. They will get another 10 point deduction when they get taken over / bought this season - or in the close season whenever it happens - if the agree CVA2 without the approval of CVA1 creditors as this will amount to the same thing as exiting admin without a CVA. They COULD approach CVA1 creditors and get them to agree to CVA2, thus avoiding further penalties, but ever since Birch's request for CVA1 creditors to get in touch, it's all gone very quiet! There was also some bluster from Birch stating they would easily appeal the -10 when they are sold, but as far as anyone can tell, the stipulation for the FLs golden share is to accept the deduction with no right of appeal - as they did with us. They COULD of course stay in admin all season and take the -10 at the beginning of next season, but I'd suspect there is nowhere near enough funds to pay Trevor and his merry men until next May!! Link to comment Share on other sites More sharing options...
Lazlo78 Posted 27 August, 2012 Share Posted 27 August, 2012 They COULD of course stay in admin all season and take the -10 at the beginning of next season, but I'd suspect there is nowhere near enough funds to pay Trevor and his merry men until next May!! This is the very key to the "stay in admin" perspective. Devious as it is (and definitely worthy of being on of Pompey's evil plans) it would never work out. TB's fees alone would most certainly weigh heavier than a possible advantage in choosing when to be punished by the FL. Link to comment Share on other sites More sharing options...
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