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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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saintmatt

saintmatt

Posted
Posted
They would have one season, this season to do that. At nearly 20 points adrift of the playoffs after only 8 games.... No chance.

 

He will asset strip them.

 

Why just this season? A promotion push in League One doesn't cost loads and BC might just think it'd be worth it next season.. Didn't he say something along the lines of no longer feeling like a reluctant owner anymore?

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Colinjb

Colinjb

Posted
Posted
Why just this season? A promotion push in League One doesn't cost loads and BC might just think it'd be worth it next season.. Didn't he say something along the lines of no longer feeling like a reluctant owner anymore?

 

 

He said similar last time.

 

Even the Skates get it, he has no interest in making them successful, he wants his money. Ownership of the Skates gets him parachute payments.

 

In the same press releases as his 'no longer a reluctant owner' rubbish he also stated they would be run within their means.... With Chainrai in charge they are f**ked.

 

Bring it on.

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saintmatt

saintmatt

Posted
Posted
He said similar last time.

 

Even the Skates get it, he has no interest in making them successful, he wants his money. Ownership of the Skates gets him parachute payments.

 

In the same press releases as his 'no longer a reluctant owner' rubbish he also stated they would be run within their means.... With Chainrai in charge they are f**ked.

 

Bring it on.

 

Glad to hear it, and thanks for the update!

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trousers

trousers

Posted
Posted (edited)

Another good read...

 

http://portsmouthsbluearmy.blogspot.co.uk/2012/09/challenging-trust-or-bust-rhetoric.html?m=1

 

The following figures have been passed to me and I replicate them in good faith for the benefit of discussing the above statement. In interviews given on Express FM that I’m sure many have heard the PST hope to convert above 75% of pledges that have been made to the them. The FA on the overhand do not share this view and have only taken into account that a total of 50% of all pledges made will be converted. The Football League have asked from The Trust the following; A £5 million bond, £8.6 million for the deals reached on the compromises made with the players who’ve left on their remaining contracts, £3.5 million in costs and the £800,000 for creditors. That figure in total with pounds and pennies all included sits around the £18 million mark in total. The Football League I’m lead to believe values the Supporters Trust bid as totalling £6.5 million in total which is some way off their figure of £18 million. On top of those figures the PFA have requested that a substantial part of the compromise deal be paid up front and that figure is in excess of 25% of the £8.6 million agreed. I re-iterate these figures are replicated in good faith as I have had them passed onto me and I have no reason to doubt their validity in any way shape or form given the sources they have come from.

 

I don’t want to label anyone threatening to boycott Pompey as a hypocrite but what I will say is that if you’ve watched Pompey at home since the late 1970s you will have paid money into the pockets of one of the following; The Deacons, The Gregorys, Venables, Mandaric, Gaydamak, Al Fahim, Al Faraj, Chanrai and CSI already. If you escape that list then you’ve either been on the world’s longest boycott and kudos to you if true or in the past 30 years you haven’t actually been that worried in the past who your money went to and let’s be honest it doesn’t make a great reading list does it now? So why start now?
Edited by trousers
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dubai_phil

dubai_phil

Posted
Posted

 

So, what you are saying there then Trousers, is that there is now a definitive statement that the PST do not have enough money?

The Football League do not believe all the Pledges will be collected (in fact they believe that the Trust will only collect two thirds of what they say they will collect.

 

Seems that Nobody Trusts the Trust

Goddamit, if only this thread was a capable of predicting winning lottery numbers as we are future events down the road.

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Red and White Army

Red and White Army

Posted
Posted
If those figures are accurate it not only shows how far away the PST are/were from taking over the club but how far away any other bidder for the club are too. I can't see anyone else stumping up that sort of money to restore the basketcase.

 

Remember the parachute payments of 8 million still to be paid. If a buyer has enough cash to buy up front, then they'll be able to collect at least some of the parachute payments. My feeling is that the already reduced payments to the past players will be renegotiated again and they'll end up with less than half of the current compromise payment.

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dubai_phil

dubai_phil

Posted
Posted
Remember the parachute payments of 8 million still to be paid. If a buyer has enough cash to buy up front, then they'll be able to collect at least some of the parachute payments. My feeling is that the already reduced payments to the past players will be renegotiated again and they'll end up with less than half of the current compromise payment.

 

Which would force the FL to act as it would be in breach of their "agreement"

 

Chinny will no doubt have that covered legally so the FL then strip the Golden Share

 

Chinny says thanks, blames the fans for boycotting the club and running it's finances into the ground and then calls Corpy to get the number for Tescos

 

#neversawthatcomingagain

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holepuncture

holepuncture

Posted
Posted
This is quite interesting....

 

http://www.fansnetwork.co.uk/football/portsmouth/fb_news.php?storyid=18258&utm_medium=twitter&utm_source=twitterfeed

 

Anyone care to check how accurate the hunches on this thread were two years ago?

 

 

The Trust managed to do this. They leveraged the development opportunity to solve the ownership problem.

 

absolutely FPMSL, priceless. They will never learn, they and the trust will be broke again in a years time having handed more of their infrastructure and assets to another crook!

 

Im well out of the loop, when will Mr Chainrai be seizing the club, lock stock and barrel?

 

I remember seeing Chinnys charge in Trevors PKF interim report or something a while back... Chinnys charge even included security over the clubs computers and other electrical items, really made me chuckle.

 

I f*cking love Balram Chainrai, what a remarkable man.

 

Im getting a replica shirt, and im putting CHAINRAI (9) on the back of it.

 

Shalala

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dubai_phil

dubai_phil

Posted
Posted

Interesting comment from Sam Torrance on the Ryder Cup coverage last night made me think.

 

On the Par 3 13th hole, a crowd of between 15 and 20,000 people gathered to watch 16 grown men try and hit a small round ball into a very large lake.

 

In their hour of need the bestest fans in the world mustered 11,000 for a must win game, the last (possibly) before they are raped by Chinny and all have to go on their boycott

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holepuncture

holepuncture

Posted
Posted

 

An honest read, he can see through the musky smell of greed wafting from the PST

 

Absolutely smashing article. There are far, far too many chiefs in place at the PST. They are more concerned with getting fans on the board than actually saving pompey as an entity. I actually think they are so desperate to get their hands on the train set they would lie and spin whatever it takes. It is clear the trust is not going to work, its just a load of fans trying to be the big man and impress their mates. All this nonsense about 'being the biggest community club ever' etc is vomit inducing and an insult to larger, better run clubs like Wycombe and Exeter, who are real and properly funded trusts with thousands more members than we will ever manage. All the PST have managed to do is pimp out the few assets we have to local dodgy businessmen and ruthless property developers from afar, the idea that it is the people of portsea rallying together and raising millions for the club is laughable. If the trust take over then we will be bust again in a year and the pathetic amount of assets we have will be seized by dodgy local traders (sorry... high net worth individuals) and ruthless property developers from afar. I like you used to be a trust support and pledgee, however I have withdrawn my pledge as its all about colin, mick, mike and the like pushing to get a seat on the board and their face in the paper no matter what the cost is to us all... plus, little Johnny wants to go on a skiing trip, my wife's car needs fresh tires for winter and I fancy the new PS3 ultraslim, so back comes my pledge minus the £2.50.

 

PUP, regards. Holepuncture

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ottery st mary

ottery st mary

Posted
Posted (edited)

 

I do not always bother but decided to read this one....

 

WELL WORTH A READ..:D

 

Mr Hall covers a lot of ground...

 

Whoever reads this...please tell me I have got it right......:rolleyes:

 

The club is Fluuuucked and by many peeps....:)

 

They owe about 200 million...:scared: But will not pay anybody ...anything.. rEAD BETWEEN THE LINES WITH SOME OF THIS.....

 

Not even a pot to pishh in..:lol:

 

Peeps still trying to rip the last few parachute payments..

 

Still trading insolvently..allegedly from the few facts they dare to release..

 

On their way to Wessex league or even Hants league.

Edited by ottery st mary
spellin of dare...
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rallyboy

rallyboy

Posted
Posted

I think there is £8M to come, the recent £3M PP in the bank should be gobbled up by running costs and Trev.

I reckon that he will only continue in admin as long as he can see his own fees covered by that account.

 

The remaining PP figure isn't even enough to cover the heroic players' future agreements which are approx £8.5M + Kanu.

 

So rather than the Trust spinning this wonderful £11M bonanza awaiting them, the lucky new owner will inherit a shortfall situation, as well as the debt repayments.

They will need to sprint to stand still.

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trousers

trousers

Posted
Posted (edited)
The link's not working for me; I just get their "sorry" page (as opposed to any of their other sorry pages).

 

Ah, so that's why Allen tweeted this earlier then...

 

@pn_neil_allen: Apologies, technical hitch. My Sports Mail column should have gone out tomorrow. Will be back online at 9am. #noconspiracy #Pompey

 

Hmmm....

 

(It was basically slagging off Chainrai big time - blaming him for splitting the fan base and effectively killing the club...)

Edited by trousers
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Colinjb

Colinjb

Posted
Posted (edited)
Ah, so that's why Allen tweeted this earlier then...

 

@pn_neil_allen: Apologies, technical hitch. My Sports Mail column should have gone out tomorrow. Will be back online at 9am. #noconspiracy #Pompey

 

Hmmm....

 

(It was basically slagging off Chainrai big time - blaming him for splitting the fan base and effectively killing the club...)

 

This is symptomatic though, and proof that the trust simply wouldn't work.

 

They have a single minded agenda, for a large group of people to come together to fulfill one grander aim there needs to be an allowance for shades of gray between the finer lines of detail. Those leading the trust are utterly intolerant of contrary viewpoints and options, politics and infighting would surely occur. As a democratic entity the trust couldn't be ruled as a dictatorship, it would tear itself appart.

 

Like all things Pompey, nieve, poorly thought through and utterly unsustainable. It may well be kind ensuring that it never gets of the ground, let dreams remain alive and unfulfilled rather then destroyed.

Edited by Colinjb
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SaintBobby

SaintBobby

Posted
Posted

His article is wonderful.

 

So funny.

 

"Oh no...we're all turning in on ourselves".

 

Embargo was broken in error as Saint Balram will be confirmed as new owner at 9am, so sad Neil filed copy and the techies put it up straight away.

 

Bless.

 

I wouldn't want to be applying for a press pass if I were him!

 

So, so glorious.

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trousers

trousers

Posted
Posted

http://www.thesun.co.uk/sol/homepage/sport/football/4564744/Dan-Kings-Sport-Uncovered-Dont-pin-your-hopes-Pompey.html

 

PORTSMOUTH’S future will be on the line today at a crucial meeting between the Football League and would-be owners Portpin.

 

Administrators are preparing to sell the League One club to the mysterious company which ran Pompey twice before between 2010 and 2011.

 

But league chiefs will demand guarantees from Portpin about how they will fund the club and how much of the crippling £17million debt they say they are owed will be carried over. The league are also nervous about potential legal action.

 

Lawyers for individuals backing the rival Pompey Supporters’ Trust bid believe Portpin and/or their backers should not pass the ‘Owners and Directors Test’.

 

They claim Portpin were effectively in control of Portsmouth when they went into administration in February, as well as the last time it happened in 2010.

 

The rules exclude anyone involved in two insolvencies since 2004 at the same club.

 

Some Pompey fans made it clear at Saturday’s home win over S****horpe that they are strongly opposed to the return of Portpin and its frontman, hapless Hong Kong-based businessman Balram Chainrai.

 

But the PST’s bid is hamstrung by the fact they cannot agree a price for Fratton Park with the company which controls it through a mortgage — Portpin.

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dubai_phil

dubai_phil

Posted
Posted
I do not always bother but decided to read this one....

 

WELL WORTH A READ..:D

 

Mr Hall covers a lot of ground...

 

Whoever reads this...please tell me I have got it right......:rolleyes:

 

The club is Fluuuucked and by many peeps....:)

 

They owe about 200 million...:scared: But will not pay anybody ...anything.. rEAD BETWEEN THE LINES WITH SOME OF THIS.....

 

Not even a pot to pishh in..:lol:

 

Peeps still trying to rip the last few parachute payments..

 

Still trading insolvently..allegedly from the few facts they dare to release..

 

On their way to Wessex league or even Hants league.

 

So, now finally, stories start to emerge of Corporate Non-Compliance over the past 3 years or so.

 

Well, I am shocked at such unexpected news

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rallyboy

rallyboy

Posted
Posted

yeah, the insolvent trading and financial irregularities offences do seem to have paled in comparison with the money-laundering and charity thefts.

Perhaps the FL would like to address these lesser offences now and levy some suitable penalties - two division relegation?

 

Or are we still waiting the results of the promised but mythical forensic enquiry into how money was moved prior to Admin1?

 

So many offences, so few answers - even fewer sanctions.

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SaintRichmond

SaintRichmond

Posted
Posted
yeah, the insolvent trading and financial irregularities offences do seem to have paled in comparison with the money-laundering and charity thefts.

Perhaps the FL would like to address these lesser offences now and levy some suitable penalties - two division relegation?

Or are we still waiting the results of the promised but mythical forensic enquiry into how money was moved prior to Admin1?

 

So many offences, so few answers - even fewer sanctions.

 

 

Mark my words ... The FL will do F*CK ALL to them.

 

They have not bothered with them trading insolvent for the past three years, so why bother now

 

The only thing I can't get my head around is HOW Birch is still allowed to "administer" an insolvent Company

 

He appears to be just as big a thief as all of Pompeys Fiddlers

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buctootim

buctootim

Posted
Posted

"A club scrambling around in the dark desperately seeking a solid crutch to drag itself up on. And a fanbase reduced to civil war......what Pompey supporters have been reduced to after more than three-and-a-half years of watching their club systematically ripped up and destroyed".

 

Music to our ears :lol:

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Big Bad Bob

Big Bad Bob

Posted
Posted

 

Pmpey Math alert

 

Fratbrat, I think that solely applies to you, there are many on this forum who disagree with you and agree with me and there is a vast majority who dont bother or have time to come on here who didnt support the trust with pledges some 16,000 people who regularly go home games did not pledge!
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