trousers Posted 18 October, 2012 Share Posted 18 October, 2012 (edited) http://www.bbc.co.uk/sport/0/football/19983822 "Pompey, who are £61m in debt, have been in administration since February." The BBC in airbrushing out the debt from the previous admin shocker....(yes, I know that strictly speaking has been written off but I'd rather they quoted the full figure they've diddled people out of over the last few years rather than the latest diluted figure) Edited 18 October, 2012 by trousers Link to comment Share on other sites More sharing options...
PES Posted 18 October, 2012 Share Posted 18 October, 2012 Really pleased, its going to be even harder from here on, but finally we will have control back, maybe we will provide you with some laughs along the way! But I have a strong feeling we are gonna deliver. Its ours to **** up now! As for pledges, many more are gonna come in than go out, I will be doubling mine now. Its gonna be interesting!!!! :-D Link to comment Share on other sites More sharing options...
trousers Posted 18 October, 2012 Share Posted 18 October, 2012 Steve Grant @SteveGrant1983 @SjMaskell What's the timescale for converting pledges to actual money? Also, presumably still need to negotiate with a ****ed-off Chainrai Sj Maskell @SjMaskell @SteveGrant1983 3 - 4 months Purchase & FC rule payments not dependant on pledges which will cover running costs. Tin Hat on for BC incoming Link to comment Share on other sites More sharing options...
trousers Posted 18 October, 2012 Share Posted 18 October, 2012 Really pleased, its going to be even harder from here on, but finally we will have control back, maybe we will provide you with some laughs along the way! But I have a strong feeling we are gonna deliver. Its ours to **** up now! As for pledges, many more are gonna come in than go out, I will be doubling mine now. Its gonna be interesting!!!! :-D What will your weekly player wage cap be once the Trust takes over ? Link to comment Share on other sites More sharing options...
hypochondriac Posted 18 October, 2012 Share Posted 18 October, 2012 Really pleased, its going to be even harder from here on, but finally we will have control back, maybe we will provide you with some laughs along the way! But I have a strong feeling we are gonna deliver. Its ours to **** up now! As for pledges, many more are gonna come in than go out, I will be doubling mine now. Its gonna be interesting!!!! :-D I doubt that. Link to comment Share on other sites More sharing options...
trousers Posted 18 October, 2012 Share Posted 18 October, 2012 The question is....will Pompey's preferred bidder out do Saints' preferred bidder in the administration comedy stakes...? Link to comment Share on other sites More sharing options...
The Kraken Posted 18 October, 2012 Share Posted 18 October, 2012 What will your weekly player wage cap be once the Trust takes over ? PES thinks it's one of the lowest in the division already, so its a bit pointless putting that particular question to him, you'll only get a deluded response. Link to comment Share on other sites More sharing options...
BigShadow Posted 18 October, 2012 Share Posted 18 October, 2012 Finally an announcement - and one that I suspect the majority of supporters at both ends of the M27 will be happy with. There is plenty of fun to be had as we might be looking forward to:- - A battle with Chinny over the valuation of the 'arena' - The playing squad being decimated on the off-chance some financial reality kicks in. - More un-Appy classics as he whinges about the above - The struggle to collect all those £900 cheques - Minus 10 points - Infighting amongst PST and supporters - Closure of at least one stand at FP as no money to maintain to HS standards. - Disputes over the role of the property developer partners - Relegation to L2 - Admin Again About time - this thread was starting to get boring. No excuse not to 'Pack The Park' now. Link to comment Share on other sites More sharing options...
trousers Posted 18 October, 2012 Share Posted 18 October, 2012 Link to comment Share on other sites More sharing options...
The Kraken Posted 18 October, 2012 Share Posted 18 October, 2012 They won't get relegated this season; Tricky Trev has done well with his playing budget to ensure that they're "competitive" (i.e. have players that almost all other teams in the division cannot afford). Takeover will take at least another 3 or 4 months apparently, that gets us to February before reality kicks in. By then, even with the -10 they should be more than safe of staying up. Gotta hand it to Trev in that regard, he's played a blinder. It'll just be a wonder where the cash comes from following takeover, and just how much more PKF can trouser between now and then. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 18 October, 2012 Share Posted 18 October, 2012 Steve Grant @SteveGrant1983 @SjMaskell What's the timescale for converting pledges to actual money? Also, presumably still need to negotiate with a ****ed-off Chainrai Sj Maskell @SjMaskell @SteveGrant1983 3 - 4 months Purchase & FC rule payments not dependant on pledges which will cover running costs. Tin Hat on for BC incoming If pledges are to fund future running costs, they will be in admin again soon as they have no long term finance. People won't meet the pledges and even if they do, what happens once it runs out? Link to comment Share on other sites More sharing options...
The Cat Posted 18 October, 2012 Share Posted 18 October, 2012 Good fisting technique from Penny in that photo. Link to comment Share on other sites More sharing options...
stevegrant Posted 18 October, 2012 Share Posted 18 October, 2012 Well another 3-4 months with Birch at the helm is up to £1.4m ****ed away into PKF's swelling coffers. Link to comment Share on other sites More sharing options...
St Marco Posted 18 October, 2012 Share Posted 18 October, 2012 So I think we can expect the wannabe reluctant owner to start legal action over the fact people who actually care about the club were chosen instead. It is going to get really messy from here. Fans have to cough up the cash they promised. Businesses will have to cough up money they promised, the council will have to give them a loan from the publics pocket. And on top of that we will have the fallout from Chinny and co. If Carlsberg did Xmas presents.... Link to comment Share on other sites More sharing options...
The Kraken Posted 18 October, 2012 Share Posted 18 October, 2012 If pledges are to fund future running costs, they will be in admin again soon as they have no long term finance. People won't meet the pledges and even if they do, what happens once it runs out? They'll ask for more. One of the PST has already admitted on radio that they'll go back to the fanbase if they need supplemental funding; this was hastily backtracked upon when they realised the cat was out of the bag. Their business model simply cannot be sustainable without ongoing funding and with PKF using up the parachute payments which had been earmarked as cash reserves for an operating budget. Link to comment Share on other sites More sharing options...
trousers Posted 18 October, 2012 Share Posted 18 October, 2012 Well another 3-4 months with Birch at the helm is up to £1.4m ****ed away into PKF's swelling coffers. It wouldn't surprise me if PKF forego a percentage of their fees in some kinda solidarity publicity stunt...with Birch ending up on the board... Link to comment Share on other sites More sharing options...
buctootim Posted 18 October, 2012 Share Posted 18 October, 2012 If pledges are to fund future running costs, they will be in admin again soon as they have no long term finance. People won't meet the pledges and even if they do, what happens once it runs out? They will sell FP to that nice property developer on the board who has promised (but not contractually agreed) to lease it back them for peppercorn rent. That arrangement will work just fine for years - well about two or three until the property market picks up. Link to comment Share on other sites More sharing options...
trousers Posted 18 October, 2012 Share Posted 18 October, 2012 the council will have to give them a loan from the publics pocket. Will they though? The council loan was dependent on there being no other bid on the table. There is another bid - Portpin's - it's just that they're not Birch's preferred bidder (unless Chainrai has officially failed the Director's test?) Link to comment Share on other sites More sharing options...
stevegrant Posted 18 October, 2012 Share Posted 18 October, 2012 Hilarious. After Nabil Hassan of the BBC broke the story this afternoon, everyone's favourite local chief sports reporter Neil Allen has whinged at the unfairness of it all, claiming (wrongly) that Hassan didn't "break" the story, he was just the quickest to transfer a press release into an article. The ****ing desperation Link to comment Share on other sites More sharing options...
trousers Posted 18 October, 2012 Share Posted 18 October, 2012 Stand by... @solentsport: RT @NabilHassan79: Portpin have just issued a statement to @BBCSport - Will update story and post link asap...#pompey Link to comment Share on other sites More sharing options...
trousers Posted 18 October, 2012 Share Posted 18 October, 2012 (edited) Hilarious. After Nabil Hassan of the BBC broke the story this afternoon, everyone's favourite local chief sports reporter Neil Allen has whinged at the unfairness of it all, claiming (wrongly) that Hassan didn't "break" the story, he was just the quickest to transfer a press release into an article. The ****ing desperation Comedy gold... @pn_neil_allen: I know I'm grumpy but those praising Nabil Hassan's #Pompey 'scoop'. For 'scoop' read 'was quickest to react to press release.' @solentsport @solentsport: @pn_neil_allen careful Neil @solentsport: RT @NabilHassan79: @pn_neil_allen @solentsport Hi Neil, my story came out before the press release! @pn_neil_allen: @NabilHassan79 @solentsport My apologies, but your story contains the same quotes contained in the press release!!! Edited 18 October, 2012 by trousers Link to comment Share on other sites More sharing options...
stevegrant Posted 18 October, 2012 Share Posted 18 October, 2012 Neil Allen @pn_neil_allen I know I'm grumpy but those praising Nabil Hassan's #Pompey 'scoop'. For 'scoop' read 'was quickest to react to press release.' @solentsport Adam Blackmore @bigadamsport @pn_neil_allen @solentsport You are ungracious misguided and incorrect as well as grumpy - check your facts before you embarrass yourself :lol: :lol: Link to comment Share on other sites More sharing options...
trousers Posted 18 October, 2012 Share Posted 18 October, 2012 @pn_Rory_McKeown: Portpin say they 'continue to work with' FL to ensure it is 'ready to complete acquisition' of #Pompey - more on http://t.co/X66eML9P soon Link to comment Share on other sites More sharing options...
hypochondriac Posted 18 October, 2012 Share Posted 18 October, 2012 Neil Allen @pn_neil_allen I know I'm grumpy but those praising Nabil Hassan's #Pompey 'scoop'. For 'scoop' read 'was quickest to react to press release.' @solentsport Adam Blackmore @bigadamsport @pn_neil_allen @solentsport You are ungracious misguided and incorrect as well as grumpy - check your facts before you embarrass yourself :lol: :lol: Lol. Always loved Adam Blackmore Link to comment Share on other sites More sharing options...
trousers Posted 18 October, 2012 Share Posted 18 October, 2012 @pn_Rory_McKeown: Portpin: 'We have been given no reason to believe that there are any remaining obstacles to our bid' #Pompey Link to comment Share on other sites More sharing options...
stevegrant Posted 18 October, 2012 Share Posted 18 October, 2012 @pn_Rory_McKeown: Portpin: 'We have been given no reason to believe that there are any remaining obstacles to our bid' #Pompey That really is Iraqi Minister for Information territory, isn't it Link to comment Share on other sites More sharing options...
CB Saint Posted 18 October, 2012 Share Posted 18 October, 2012 What a pillock. :lol: Link to comment Share on other sites More sharing options...
trousers Posted 18 October, 2012 Share Posted 18 October, 2012 @pn_Rory_McKeown: Portpin: 'Whilst we note PKF's decision, we recognise that preferred bidder status has no basis in law' #Pompey - http://t.co/X66eML9P Link to comment Share on other sites More sharing options...
trousers Posted 18 October, 2012 Share Posted 18 October, 2012 @pn_neil_allen: RT @bigadamsport: @pn_neil_allen Getting hold of a story first before it's released/delivered to others is a 'scoop' - humility is a good trait Link to comment Share on other sites More sharing options...
trousers Posted 18 October, 2012 Share Posted 18 October, 2012 @pn_Rory_McKeown: Portpin still want to own #Pompey (full story here) - http://t.co/rYfKdmwR PORTPIN say they will continue to work with the Football League to ensure the firm is ‘ready to complete the acquisition’ of Pompey. It comes as the Pompey Supporters’ Trust were today named as preferred bidders by administrators PKF to take over at Fratton Park. But a Portpin spokesman said today: ‘We continue to work with the Football League to ensure we are ready to complete the acquisition of Portsmouth Football Club. ‘Our discussions remain productive and we have been given no reason to believe that there are any remaining obstacles to our bid. ‘Whilst we note PKFs decision, we recognise that preferred bidder status has no basis in law. ‘And we are confident that our bid offers both the best deal for creditors and is the only fully funded offer to provide Portsmouth FC with a financially sound and sustainable future.’ Link to comment Share on other sites More sharing options...
The Kraken Posted 18 October, 2012 Share Posted 18 October, 2012 In other words; "let's go to court". Link to comment Share on other sites More sharing options...
trousers Posted 18 October, 2012 Share Posted 18 October, 2012 @bigadamsport: @pn_neil_allen Jeez Neil, you need to let it go and move on - I'm not sure you're doing yourself any favours here by highlighting your angst Link to comment Share on other sites More sharing options...
Katalinic Posted 18 October, 2012 Share Posted 18 October, 2012 This is the best possible outcome imho. Not for Pompey, for this thread. Link to comment Share on other sites More sharing options...
trousers Posted 18 October, 2012 Share Posted 18 October, 2012 @bigadamsport: Good to see @NabilHassan79 keeps pouring out excellent #pompey stories - he's on fire,unlike @pn_neil_allen who's just hot under the collar! Link to comment Share on other sites More sharing options...
Ohio Saint Posted 18 October, 2012 Share Posted 18 October, 2012 This is the best possible outcome imho. Not for Pompey, for this thread. I am actually perversely pleased for the poopey fans. It seems right that they should get a chance to try and pull this out of the fire and try to do it right. (I'm laughing on the inside as I type this though) Link to comment Share on other sites More sharing options...
hypochondriac Posted 18 October, 2012 Share Posted 18 October, 2012 I am actually perversely pleased for the poopey fans. It seems right that they should get a chance to try and pull this out of the fire and try to do it right. (I'm laughing on the inside as I type this though) They have been going on and on and on about how they have the best fans in the world. Now is their chance to prove it! Link to comment Share on other sites More sharing options...
Jimmy_D Posted 18 October, 2012 Share Posted 18 October, 2012 'Before' he embarrasses himself? Link to comment Share on other sites More sharing options...
Katalinic Posted 18 October, 2012 Share Posted 18 October, 2012 I am actually perversely pleased for the poopey fans. It seems right that they should get a chance to try and pull this out of the fire and try to do it right. (I'm laughing on the inside as I type this though) Me too, when it all goes horribly, horribly wrong (which it will) then they will have nobody else to blame this time. Link to comment Share on other sites More sharing options...
Ohio Saint Posted 18 October, 2012 Share Posted 18 October, 2012 They have been going on and on and on about how they have the best fans in the world. Now is their chance to prove it! Me too, when it all goes horribly, horribly wrong (which it will) then they will have nobody else to blame this time. This and this! It's time to put up or shut up now, no excuses, no delusions allowed. Do it or die. This is the point where the reality hits. If they pull it off, then good luck to them, but they will have to earn their bragging rights this time, not steal them off charities and small businessmen. Link to comment Share on other sites More sharing options...
trousers Posted 18 October, 2012 Share Posted 18 October, 2012 @pn_neil_allen: Get the feeling it is going to be rather special at Fratton on Saturday. I thought the atmosphere at Fatpipe Park was special every game Neil? Link to comment Share on other sites More sharing options...
The Kraken Posted 18 October, 2012 Share Posted 18 October, 2012 @pn_neil_allen: Get the feeling it is going to be rather special at Fratton on Saturday. I thought the atmosphere at Fatpipe Park was special every game Neil? Will certainly be interesting to see if the hordes come running back to pack the park now that the Trust are in pole position to takeover. Link to comment Share on other sites More sharing options...
Ohio Saint Posted 18 October, 2012 Share Posted 18 October, 2012 (edited) @pn_neil_allen: Get the feeling it is going to be rather special at Fratton on Saturday. I thought the atmosphere at Fatpipe Park was special every game Neil? I'm happy to call a truce and mark this day as "Takeover thread PART 2" Here, I'll draw a border line. . . . . END OF TAKEOVER THREAD PART ONE (Crooks out) _________________________________________________________________________________________________________________________________________ TAKEOVER THREAD PART TWO (Fishy fans in) ... Edited 18 October, 2012 by Ohio Saint Link to comment Share on other sites More sharing options...
Jimmy_D Posted 18 October, 2012 Share Posted 18 October, 2012 Now all they have to do is get Chanrai to accept a huge cut in what he's owed, get the former players to accept a huge cut in what they're owed (or rather, what they've already accepted as a reduced compromise), get the supporters to pay up what they've pledged, find the money to pay ongoing wage costs, and they're home free. What could possibly go wrong? Link to comment Share on other sites More sharing options...
The Kraken Posted 18 October, 2012 Share Posted 18 October, 2012 Now all they have to do is get Chanrai to accept a huge cut in what he's owed, get the former players to accept a huge cut in what they're owed (or rather, what they've already accepted as a reduced compromise), get the supporters to pay up what they've pledged, find the money to pay ongoing wage costs, and they're home free. What could possibly go wrong? Yep. Well done to the bid team for getting in a position where they can see the finish line; getting over it could yet be an insurmountable hurdle, for many reasons. First, the Trust have to turn the pledges into fully funded applications. Next, Chainrai has to accept the Trust's offer of £2.75M for the charge of Krap Nottarf. When he refuses to accept that figure, then its off to court. The Trust have to demonstrate that, financially, they are able to meet the player deferrals for the previous high earners; those bills stand at £8.5M and aren't going away anytime soon, and with Chinny (plus other parties) still in the background there's surely little chance of them getting negotiated downwards. The Trust also have to demonstrate that their business plan hold up (a business plan which when previously submitted could only afford to pay £2M of the £8.5M player deferral payments). Lots of hurdles to go yet, and Chainrai will of course play his part to the max. Good luck to them though; if the PST do miraculously take charge it will make a change to see them living within their means and not ripping off schools, hospitals and local charities just so that they can gain a competitve advantage on the football pitch. Link to comment Share on other sites More sharing options...
Ohio Saint Posted 18 October, 2012 Share Posted 18 October, 2012 I'm assuming there will be Poopey News Web cheat scheduled soon? Link to comment Share on other sites More sharing options...
hutch Posted 18 October, 2012 Share Posted 18 October, 2012 Now all they have to do is get Chanrai to accept a huge cut in what he's owed, get the former players to accept a huge cut in what they're owed (or rather, what they've already accepted as a reduced compromise), get the supporters to pay up what they've pledged, find the money to pay ongoing wage costs, and they're home free. What could possibly go wrong? Don't be daft, that's not their problem. That's for the owners to sort out. You know, the few "local businessmen", who are coincidentally property developers as well, who will actually own the majority of the club. But PST will have a fanontheboard. Link to comment Share on other sites More sharing options...
70's Mike Posted 18 October, 2012 Share Posted 18 October, 2012 If pledges are to fund future running costs, they will be in admin again soon as they have no long term finance. People won't meet the pledges and even if they do, what happens once it runs out? exactly Link to comment Share on other sites More sharing options...
70's Mike Posted 18 October, 2012 Share Posted 18 October, 2012 They will sell FP to that nice property developer on the board who has promised (but not contractually agreed) to lease it back them for peppercorn rent. That arrangement will work just fine for years - well about two or three until the property market picks up. got to buy it first from chinny ? Link to comment Share on other sites More sharing options...
CB Saint Posted 18 October, 2012 Share Posted 18 October, 2012 @pn_neil_allen: Get the feeling it is going to be rather special at Fratton on Saturday. I thought the atmosphere at Fatpipe Park was special every game Neil? Neil Allen desperately tries to shift the focus from his tantrum. Link to comment Share on other sites More sharing options...
dubai_phil Posted 18 October, 2012 Share Posted 18 October, 2012 Well. I don't believe any of it. Until I read the PST say. "We are going to draw a big blue line under our past and start again." It will then be pointed out that the Big Blue Line is actually not theirs to use. Which will then see a further two weeks of money wasted as they use PR agencies to prove that they have the bestest Big Blue Line Link to comment Share on other sites More sharing options...
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