Jump to content

Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
in Golden Posts

 Share

Recommended Posts

The Kraken

The Kraken

Posted
Posted
@solentsport: Pompey have spent wisely - Smith: Walsall boss Dean Smith is impressed with the squad that Portsmouth have built... http://t.co/YOspqzXm

 

Carlsberg don't do skirting around using the word "cheats" but if they did....

 

So the list continues of those in the know who claim Pompey are spending above the League 1 average.

 

There's going to be fun and games if Chinny or the trust take over and they haven't revised their £1.5K per week / £2.6K per week average player wage allowance. I fear Appy could go into meltdown at the unfairness of it all. Or they'll continue with quality over quantity and have a squad of 13 senior pros.

Link to comment
Share on other sites
trousers

trousers

Posted
Posted

http://walsall.web-fans.com/2012/09/opposition-views-portsmouth-a/#more-5553

 

Q: There seems to be four or five serious parties interested in taking over your club and I believe this Friday is the deadline Mr Birch has set. One such party is the Portsmouth Supporters Trust. Being as this is the obvious choice for the fans would they be able to afford to clear the massive debt and sustain a future or do you see any of the others interested being a better proposition?

 

A: Like I said in the last question, my preferred option like many, is to back the Trust. A loan from the city council could help buy Fratton Park back from Balu Chainrai and a lot of the debt will be paid back in the CVA including footballing and non-footballing creditors. I am against Chainrai coming back as he is just looking to protect his previous investment and has already said he wants to take his money back out of the club, whilst we know little about the new Middle-Eastern consortium mentioned.

 

In this week's episode of 'Pompey fan tries his hand at mathematics'.... "2p of 20p in the £ = a lot" :facepalm:

 

Q: That FA Cup Final win in 2008 must have been a great day out for you. What are your recollections of that day at Wembley and the celebrations afterwards?

 

A: It was an unbelievable day, even the run up to the final was amazing – beating Man Utd at Old Trafford! But the FA Cup final was amazing, probably not the best game of football but we deserved it. I went with my old man and I had tears in my eyes as the full-time whistle went – the celebrations afterwards were amazing, everyone connected with the city could celebrate – but it’s a bit disappointing that the 200,000+ that celebrated on Southsea Common during the open-top bus parade have disappeared now.

 

 

:lol:

Link to comment
Share on other sites
sticksaint

sticksaint

Posted
Posted
Portsmouth fan with sense of humour shock ...from the News comments, after someone made the comarison between selling PFC and selling a boat.....

 

11:01 AM on 13/09/2012

This comment is hidden because you have chosen to ignore anonymous. Show DetailsHide Details

This comment is hidden because you have submitted an abuse report against it. Show DetailsHide Details

Or...

 

Trevor Birch in a meeting with all 3 bidders:

 

TB (Boat Seller): Look guys, you all have somewthing to bring to the table here, but none of you alone are a viable options and I'm going to have to liquidate the boat and send it to a pakistani beach for dismantling if we can't work something out.

 

PST: That's OK, We have a rowing bat that if we feed it enough water will grow like a pheonix into a shiny new superaycht

 

BC: Can I have the parts before you send it to the beach, I can sell them and get a bit of my cash back... I don't like boats much anyway...

 

SAF: I have a friend (or two allegedly) who are interested in my idea to turn this old tugboat into a world class cruisliner and make it the pride of the marina.

 

 

TB: How about setting up a consoirtium to save this boat between you?

 

 

BC: I don't like boats much anyway... and besides, the crew and passengers don't like me...

 

PST: BC is the spawn of satan, we prefer rowing boats even if we can only use them on Hilsea Lido.

 

SAF: OK, I know my plan is not that practical, but I'd like to save this boat. I like the publicity. What about if the PST were to join with me? they could buy some shares and help fund the refurbishment.

 

PST: Still prefer rowing boats, but I might help if I can be captain...

 

SAF: Sorry, I want the publicity of being Captain, pbut I'll let you look after the catering staff...

 

PST: Ooh, we could keep the price of pies down...

 

BC: Hang on, you're all forgetting that I own the marina berth and have a debenture on the engines...

 

PST: that's OK, we prefer rowing boats...

 

SAF: Anyone want to build a hotel with me?

 

PST: Does it have a rowing boat?

 

BC: I'll lend you the money if I can take over in 6 months and bring the demolishers in to take all the contents of the hotel rooms.

 

 

TB: Hang on you lot! We're talking about a boat here! How the heck did we get on to hotels?

 

 

SAF: Hold Up! I'm busy tweeting Some bloke's accusing me of a scam...

 

PST: meat pie anyone?

 

I give up, I'm off to Pakistan to find a beach... So long and thanks for all the fish...

 

That had me in tears :0 I wonder if Rallyboy posts on the news website?

Link to comment
Share on other sites
dubai_phil

dubai_phil

Posted
Posted
SAF is saying that he has proof of funds money is in Escrow account in UAE, and by end of today or latest Friday it will be in UK account.

 

He can't be pulling their chain again can he? Surely not!

 

Dxb banks shut at 10 am Uk time thurs reopen Sunday so no way that was true

 

Sent from my HTC One X using Tapatalk 2

Link to comment
Share on other sites
Saint in Paradise

Saint in Paradise

Posted
Posted

This pimpey cheating is spreading - it's now reached Gosport.

 

 

 

FA Cup: Bashley Town ask for replay after clear goal not given

By Nabil Hassan BBC Sport

 

Non-league Bashley Town have written to the Football Association requesting their FA Cup first-round qualifying match

against Gosport Borough is replayed after a clear goal was missed by referee Ian Bull.

 

With the teams level at 2-2, Bashley 'scored' late on after James Stokoe struck from close range, but in frustration the

Gosport keeper kicked the ball through the side netting.

 

And, having missed the ball going in, referee Bull then awarded a corner.

 

"We feel cheated," Bashley vice-chairman Tim Titheridge told BBC Sport.

 

Gosport manager Alex Pike told the Daily Echo: "I spoke to my players afterwards, of the 11 on the pitch, two thought

it wasn't a goal, two didn't see anything and seven said it was a goal.

 

 

.

Link to comment
Share on other sites
trousers

trousers

Posted
Posted

@pn_neil_allen: Those bankers again have a lot to answer for. Now they've prevented Al Fahim from opening an account until next Tuesday. Disgrace. #Pompey

 

@pn_neil_allen: RT @CoxGavin: @pn_neil_allen have you ever opened a business account. Na didn't think so. You must have some homework to do sonshine.

 

@pn_neil_allen: RT @MrKimbell: Right, now that joker SAF is out of the picture (again) can we get back to getting behind the @pompeytrust please?

 

@pn_neil_allen: RT @GJColwell: Full credit to @pn_neil_allen - some of the stuff he has to put up with on here is beggars belief.

Link to comment
Share on other sites
trousers

trousers

Posted
Posted

@Joshyb123: @TheRealSulaiman why was it not possibly to transfer funds into PFK accounts? Or into you solicitors account?

 

@TheRealSulaiman: @Joshyb123 PKF are not accepting it. And other I don't know them. So can't trust them.

 

@TyWhyley: @TheRealSulaiman so are you pulling out?

 

@TheRealSulaiman: @TyWhyley no. Both ways we are transferring the money to uk next week. Hoping an extension or joining PST

Link to comment
Share on other sites
Pugwash

Pugwash

Posted
Posted (edited)
@pn_neil_allen: Al Fahim and Chainrai, the Terry Duckworth and Nick Cotton of #Pompey. They will NEVER change - so don't open the door!

 

Which soap character does Mr Allen most resemble I wonder...?

 

Ian Beale

 

No coincidence that's the first name to crop up!

Edited by Pugwash
SNAP!
Link to comment
Share on other sites
Dark Munster

Dark Munster

Posted
Posted
http://www.portsmouth.co.uk/sport/pompey/pompey-past/portpin-submit-bid-for-pompey-ahead-of-deadline-1-4261102

 

 

Bg Daddy Channers on hiw way back in - appy won't be appy with the talk about league one budgets

‘We want to make it clear that 100% of the income of the Club including the remaining parachute payments will be used to pay the football creditors and run the club on solid grounds on a day to day basis, with any surplus funds :lol: being given to Michael Appleton for the first team playing squad.’ - Chinny

 

Well, that's most generous of you Chinny. Oh wait, that would be you, wouldn't it? :D

 

Worryingly for the phew, Chinny is denying having anything to do with developers, even though no-one has asked him about that. The loan shark doth protest too much, methinks.

Link to comment
Share on other sites
trousers

trousers

Posted
Posted

 

"The Administratorís trading account shown at Appendix 1 shows the trading position as at 16 August 2012. Please note that this is a cash account and does not include expenditure committed to but not yet paid."

 

So they've found yet more mugs prepared to offer services to the club without being paid up front...?

Link to comment
Share on other sites
trousers

trousers

Posted
Posted

"We negotiated with the Football League and were grateful that it gave its consent to allow the Club to start in League One whilst the Company remained in administration with no certainty on completing the season."

 

Confirmation that the FL bent it's own rules regarding allocation of the Golden Share?

Link to comment
Share on other sites
trousers

trousers

Posted
Posted

"Parachute Payments

6.7 At the Appointment Date, the value of future Parachute Payments potentially available to the Company (and potentially available to a purchaser) was estimated at c£14.04m. However, it was uncertain whether any Parachute Payments would be released to the Company due to:

 Competing claims over certain Parachute Payments due to be released in the period following the Appointment Date; and

 Potential liabilities to Premier League clubs that would have priority of payment.

6.8 Following negotiations with the Premier League, the Liquidators of OldCo and Mr Gaydamak we successfully negotiated the release of the Parachute Payments. This deal enabled the Administrators to recover c£6.08m of which c£1.2m has been paid out to Mr Gaydamak and legal advisors for Mr Gaydamak and the Premier League. A further £8m remains to be received over the next 2 seasons."

Link to comment
Share on other sites
trousers

trousers

Posted
Posted

"Gaydamak/Miland Development 2004 Limited

6.13 In the Proposals it was noted that MD2004 (a company owned by Alexandre Gaydamak) had ownership of much of the land surrounding Fratton Park and that there was a potential balance of c£4.9m owed to the Company by MD2004.

6.14 In late 2010 OldCo assigned to the Company the benefit of any recovery of this debt. This assignment was entered into on the condition that (among other things) the Company funded the actions necessary to pursue the recovery of the debt. On 8 February 2012 solicitors acting for the Liquidators of OldCo wrote to the Company formally requesting initial funding of c£119k within 14 days. No payment was made.

6.15 On 24 February 2012 solicitors acting for the Liquidators of OldCo wrote again to the Company stating that they considered the non-payment of the requested funding to be a repudiatory act and that the deed of assignment was therefore terminated. The Administrators have challenged this position and it remains unclear whether the right to pursue the c£4.9m vests with OldCo or the Company. The Administrators continue to review the position in light of the fact that on 4 July 2012 MD2004 was placed into Administration with Paul Appleton and Stephen Katz of David Rubin & Partners LLP being appointed Joint Administrators."

Link to comment
Share on other sites
trousers

trousers

Posted
Posted (edited)

"Administrators remuneration and disbursements

 

The time costs incurred in the period 17 February 2012 to 16 August 2012 amount to £1,312,431.55, representing 4,390.80 hours at an average hourly rate of £299 per hour.

 

To date, fees of £425,000.00 and disbursements of £24,464.35 have been drawn. "

Edited by trousers
Link to comment
Share on other sites
trousers

trousers

Posted
Posted
No wonder trousers post count is so high, nearly everyone else combines all of the points they wish to make

in one post not about 10 separate ones. :lol:

 

You try cutting and pasting separate sections of a 32 page report into one post on an iPhone on a train with bugger all data signal sonny Jim...

 

;-))

Link to comment
Share on other sites
Torres

Torres

Posted
Posted
"Gaydamak/Miland Development 2004 Limited

6.13 In the Proposals it was noted that MD2004 (a company owned by Alexandre Gaydamak) had ownership of much of the land surrounding Fratton Park and that there was a potential balance of c£4.9m owed to the Company by MD2004.

6.14 In late 2010 OldCo assigned to the Company the benefit of any recovery of this debt. This assignment was entered into on the condition that (among other things) the Company funded the actions necessary to pursue the recovery of the debt. On 8 February 2012 solicitors acting for the Liquidators of OldCo wrote to the Company formally requesting initial funding of c£119k within 14 days. No payment was made.

6.15 On 24 February 2012 solicitors acting for the Liquidators of OldCo wrote again to the Company stating that they considered the non-payment of the requested funding to be a repudiatory act and that the deed of assignment was therefore terminated. The Administrators have challenged this position and it remains unclear whether the right to pursue the c£4.9m vests with OldCo or the Company. The Administrators continue to review the position in light of the fact that on 4 July 2012 MD2004 was placed into Administration with Paul Appleton and Stephen Katz of David Rubin & Partners LLP being appointed Joint Administrators."

 

So Baker Tilley offered Birch £4.9m if he agreed to advance them £119k to use to chase it? While that sounds like some sort of Nigerian scam, if I were a creditor I'd be expecting an explanation of why Birch didn't bother to pursue that £4.9m and has now lost the right to ever obtain it.

 

Althought, to be fair, I expect the explanation would be "MD2004 don't have 4.9 pence, let alone £4.9m"

Link to comment
Share on other sites
hutch

hutch

Posted
Posted
Althought, to be fair, I expect the explanation would be "MD2004 don't have 4.9 pence, let alone £4.9m"

Maybe not now, but if you got judgement you would have first dibs on the proceeds of liquidation when Gaydamaks land is sold.

 

Although of course, if the Gaydamak land and NewCo happened to end up in the same beneficial ownership, then that would be meaningless and any legal costs would have just been money down the drain.

Link to comment
Share on other sites
Wes Tender

Wes Tender

Posted
Posted
Originally Posted by Saint in Paradise

 

No wonder trousers post count is so high, nearly everyone else combines all of the points they wish to make

in one post not about 10 separate ones.

Yes, but it allows you to take it in with a better understanding imho!

 

And there are posters on here who admit that they are incapable of reading posts comprising more than a few lines, so that is a benefit for them.

 

"Too long", they moan. " I didn't get past the first line" is another comment from these people, who apparently have the attention span of a goldfish.

Link to comment
Share on other sites
alpine_saint

alpine_saint

Posted
Posted

I get a headache following this...

 

They are back down to 2 bids, or just the PST ?

 

There is no way the PST bid is going to work, there is simply not enough money. Why is is Birch not exercising his duties to protect the cash reserve and liquidating the club, and why is the FL not exercising its rules and suspending the DFCSBs ?

Link to comment
Share on other sites
 Share
Go to topic listing
×
×
  • Create New...