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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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trousers

trousers

Posted
Posted

 

No Pompey fans calling for the Football League to conduct a rigorous FAPP test yet then I note....after slagging the FL off retrospectively in recent times you'd have thought they would be shouting it from the rooftops this time around...

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Torres

Torres

Posted
Posted
concentrate, this is for hardcore nutjobs only!

 

do I perhaps spot Chanrai creeping around the FL rules by agreeing a deal with Al Fahim outside of the main sale agreement??

 

Birch sells the club to Al Fahim, secured creditor Chinny agrees the main Birch deal because he has done another deal with Al Fahim to account for his own status.

 

That 2nd deal is reliant on Al Fahim coughing up money at regular intervals, if it doesn't happen, could Chinny then retake control and slap his whole debt back into the club?

He's going to want something as security from a new consortium and the club would seem the obvious thing to use - could it be CSI revisited, with more tea towels and less gunfights?

 

Al Fahim will be personally carrying forward way more Chinny debt than the amount the FL will approve, the loan shark wants that protected in an agreement outside of the main sale, the FL won't have control over that deal, and Al Fahim might forget to tell them.

 

Plausible, or Nutjobbery?

 

Firstly, RB, you should know by now never to question whether anything is plausible when they are concerned, no matter how ludicrous it might be in any other situation. Oh, apart from them actually paying all their debts.

 

Secondly, Chinny pulled that trick before with CSI. I see no reason he wouldn't try it again.

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CB Saint

CB Saint

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Posted

So

 

Saf borrows £17m from BC.

 

SAF make bid - £500k for creidtors and £16.5m for stadium

 

TB has to accept - It the best offer in town

 

TB distributes £500k to the unsecured and £16.5m straight back to BC

 

Saf rolls up loan into New co and BC takes security against stadium

 

So for £500k BC has his security intact and access to the PPs

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trousers

trousers

Posted
Posted
So

 

Saf borrows £17m from BC.

 

SAF make bid - £500k for creidtors and £16.5m for stadium

 

TB has to accept - It the best offer in town

 

TB distributes £500k to the unsecured and £16.5m straight back to BC

 

Saf rolls up loan into New co and BC takes security against stadium

 

So for £500k BC has his security intact and access to the PPs

 

But, luckily for Pompey, the football authorities won't fall for the same ruse again.....oh....

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Gemmel

Gemmel

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Posted

I actually dont think thsi one is that compliacted this time round.

 

With the CVA at 2p in the pound, the high wage earners gone and 10 million left in parachute payments, it was always going to attract some chancers.

 

Whether saf comes up with the money remains to be seen, but for 5 million quid, I can reckon Chinny might have had enough.

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Ken Tone

Ken Tone

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Posted
Did you hear those Crawley fans having a go at the ref and the Pompey bench? Things like 'you lot should have gone pop years ago', 'dont worry you'll be out of a job by the end of the season' etc etc

 

I only heard "cheats, cheats, cheats..."

 

Warned the cockles of my heart

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a1ex2001

a1ex2001

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Did you hear those Crawley fans having a go at the ref and the Pompey bench? Things like 'you lot should have gone pop years ago', 'dont worry you'll be out of a job by the end of the season' etc etc

 

I only heard "cheats, cheats, cheats..."

 

Warned the cockles of my heart

 

Quite right too, they deserve all the stick thrown at them while they are making such a mockery of the footballing and financial authorities. I'm sick of hearing about their struggle to field a team and how amazing they are doing on such a small budget and I'm chocking on the smoke and blinded by the glare in the mirrors that seems to hide their antics from everyone including the gutter press that is normally all over such things. I just hope they hurry up and fold so the pheonix team can start planning for season 2013/14 and leave all this poison behind.

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Wes Tender

Wes Tender

Posted
Posted

One of the most amusing things I heard chanted at the Crawley match, was the Skates' "can we play you every week?"

 

So one of two outcomes could justify that chant:-

 

Either the Skates are hopeful that their club will survive administration and struggle on living hand to mouth, wishful of remaining at that third division level.

Or they anticipate that they will somehow rise through the divisions and hope that Crawley rise simultaneously.

 

For all that the Skates managed to beat them when they were reduced to 9 men, I predict that Crawley will finish the season above them.

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Gemmel

Gemmel

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SulaimanAlfahim ‏@TheRealSulaiman Time is so important for #pompey hopefully we can open uk bank account before the deadline. And be part of the bid.

 

Hmmmmm Not quite so positive from the Doctor - I'm sure anybodty wishing to deposit 12 million fat ones, could open an account very quickly, or indeed, use there a clients account at their lawyers or accountants.

 

More laughs yet to come...

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Ken Tone

Ken Tone

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John Kimbell ‏@MrKimbell The bank the 'middle east investors' have deposited their Pompey funds into last shared an annual report in '09 - when they made a £50m loss

 

However Pompey Scot , who if course doesn't want you to know he is Bill Gillon ,even though his twitter tag still says so .....,.adds

 

Bill Gillon‏@PompeyScot@MrKimbell Thats a misleading statement from the media. The bank is now state owned, and perfectly fine.

 

 

 

So that's all right then!The money's as safe as say 'Dubai World'

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Torres

Torres

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Posted
However Pompey Scot , who if course doesn't want you to know he is Bill Gillon ,even though his twitter tag still says so .....,.adds

 

Bill Gillon‏@PompeyScot@MrKimbell Thats a misleading statement from the media. The bank is now state owned, and perfectly fine.

 

Or maybe as "fine" as Snoras Bank, who were definitely not dodgy because because they'd been nominated as "Best Regional Bank" by The Banker magazine, eh CorpHo? :lol:

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St Chalet

St Chalet

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I am not sure the Dubai Bank is the issue here. Banks in recent years have had the odd problem loss wise and in some cases resorted to state ownership (see Lloyds and RBS)

 

You only need to worry about the credibility of the bank if they own it in the case of Pompey.

 

If Mr Ice Cream needs to show funds into a UK Account he can wire it to PKF's client account.

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Ken Tone

Ken Tone

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I thought the dosh was in escrow for the last 14 days

 

Escrow as I understand it means held in trust by a third party

 

I thought it was in an escrow account at a particular moment c14 days ago, according to a photocopy of an account statement shown on line by The Mysterious Bidder -- which is quite a different thing. Birch is saying 'need proof of funds' according to the News, not the most reliable of sources I grant you. That implies he is not convinced by this escrow account story.

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Ken Tone

Ken Tone

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By the way, POL Scumfinder General Frattoniser still hasn't managed to hunt me down and ban me yet. Maybe he's not so certain, after all...

 

Judging by their past record, he will just keep banning random posters in the vague hope one of them is you. The only way to stay on there is either to say nothing at all, or to go for the Basil Fawlty approach to Anglo-German relations : "Don't mention the money".

 

Soon there will only be Frattoniser, Bill Gillon and Colin Farmery left. Which one of those is you Torres?

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trousers

trousers

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Posted
SulaimanAlfahim ‏@TheRealSulaimanHow can BBC reports that I am buying #Portsmouth because I tweeted "I am involved" does involve means bidder or buyer. No professionalism !!

 

 

Seems like he is backtracking to me

 

And his written style sounds more like 'Bearsy' by the day.... ;)

 

(no offence intended Bearsy mate)

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Saint 76er

Saint 76er

Posted
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Wasn't an arrest warrant issued on the ice cream bloke in regard to his alleged dodgy property dealings in Dubai, whereupon he took off for an extended stay at a chess tourney in Moscow?

 

In which case does this give him a criminal record and would he therefore likely fail the FAPPT? In any event if his above dealings involved insolvency that should do the trick.

 

Is the mystery bidder he's dragging along likely to be that Shinawatra chappie trying to get a foot in the door again, perhaps?

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dubai_phil

dubai_phil

Posted
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Is that your future wedding carriage Phil?

 

:lol:

That is actually the one in which I busted my knee by doing the whole proposal bit last June, it was damned small in the back.. (Gonna go the Vintage Car route something more my teenage era - a Model T perhaps)

 

Still I CANNOT believe that the week I have been totally off line we have the return of the Ice Cream Man AND Andy Murray wins a Grand Slam.

 

FFS the whole planet is going into "You couldn't make it up" mode

 

So, while the entire UK goes into a melt down later this year over how the hell you choose your SPOTY, with no doubt blood on the General Sports Forum Dancewfloor between the Jessie's the Brad's and the has to be the whingeing Jock, the skates will still be wondering why 1) Appy didn't win it and 2) why they have not won team of the year innit

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dubai_phil

dubai_phil

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Posted
Wasn't an arrest warrant issued on the ice cream bloke in regard to his alleged dodgy property dealings in Dubai, whereupon he took off for an extended stay at a chess tourney in Moscow?

 

In which case does this give him a criminal record and would he therefore likely fail the FAPPT? In any event if his above dealings involved insolvency that should do the trick.

 

Is the mystery bidder he's dragging along likely to be that Shinawatra chappie trying to get a foot in the door again, perhaps?

 

There are no Bankruptcy Protection laws in the UAE. If you are in debt OR if you bounce a cheque you go to Jail until it is repaid at the rate of around AED 500 per day. SAF was sentenced for around 25million plus around 30 mil in damages.

 

So under FAPT he WILL fail he has an insolvency event against his name. (I cannot google from here (everything is in farking Polish) but I did post links at the time try The National & Gulf News Web Sites if Google doesn't work

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Hockey_saint

Hockey_saint

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There are no Bankruptcy Protection laws in the UAE. If you are in debt OR if you bounce a cheque you go to Jail until it is repaid at the rate of around AED 500 per day. SAF was sentenced for around 25million plus around 30 mil in damages.

 

So under FAPT he WILL fail he has an insolvency event against his name. (I cannot google from here (everything is in farking Polish) but I did post links at the time try The National & Gulf News Web Sites if Google doesn't work

 

Are you sure you're not actually in Shirley?

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Saint 76er

Saint 76er

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Posted
There are no Bankruptcy Protection laws in the UAE. If you are in debt OR if you bounce a cheque you go to Jail until it is repaid at the rate of around AED 500 per day. SAF was sentenced for around 25million plus around 30 mil in damages.

 

So under FAPT he WILL fail he has an insolvency event against his name. (I cannot google from here (everything is in farking Polish) but I did post links at the time try The National & Gulf News Web Sites if Google doesn't work

 

So, in this case and with SAF's recent tweet about bidder or buyer it would seem he is simply hoping to rack up a commission by introducing a buyer.

 

It all sounds a bit CSI with rent-a-forwarding-address and looking for a bank prepared to handle their money type of stuff going on.

 

Word of advice to the Phew, surely to God you lot over at Fatpipes can see the next dodgy asset stripper from a mile away, same as we can, so why not just AH this lot and move on to whatever the future holds?

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The Kraken

The Kraken

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TheRealSulaiman: @mrhanks its an investment to clear out all the debts

 

An investment to clear the debt. Not one to fund the club then?

 

Pretty much the same as Chinny and the Trust's bid then, no? They both intend to pay off the CVA and player deferrals (debts) and then let the club live within its means (i.e. no further investment).

 

Welcome to the new bid; just as sh*t and potless as the old bid.

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ericofarabia

ericofarabia

Posted
Posted

Meanwhile Skatesmuffs Spinnaker Tower in the newss\

 

http://www.bbc.co.uk/news/uk-england-hampshire-19559042

 

Interesting quote from a councillor .......

 

City council leader, councillor Gerald Vernon-Jackson, admitted it was time to "cut losses" on the lift and its repeated problems.

He said: "Unfortunately, we have never been able to get the external lift to work.

"Probably almost every lift expert in the country has worked on it at one time or another. We've decided there's no point in pouring good money after bad."

 

How does that policy fit in with their helping out cheatsmuff with a never to be seen again loan then?

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Lazlo78

Lazlo78

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How does that policy fit in with their helping out cheatsmuff with a never to be seen again loan then?

 

To be fair, the PCC did quite a good job walking tightrope between not wanting to give the loan while at the same time not wanting to lose popularity from football fans in the community. The solution of granting the loan with a lot of reservations was rather shrewd and it was apparent from the start that they had done their homework and that it was very unlikely that the situation would arise where they would have to shell out the money.

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holepuncture

holepuncture

Posted
Posted

 

A few tweets and the good DR returns, good to have you back, mines a '99.

 

Have Chinny and Sulaiman been in bed all along? SAF was claiming ten % of Al-Miraje's empire IIRC.

 

Im absolutely loving this.

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