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Pompey Takeover Saga


Fitzhugh Fella

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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.

been out all day, but I see that Southampton-based property developer has become the preferred bidder. Good luck to him. Anyone know if one of his companies bid for the fatpipe car park land?

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Obviously most of the few are in celebratory mood and have already started planning for a monstrous 14k attendance at Fratton on Saturday, but here's some Pompey fan comments I just nicked from Facebook:

 

before they even think about finalising any deal they have to either find another 4m or renegotiate a deal with football creditors. then theres the court case to get control of fp which wont be cheap. so you pledge your 1k and it gets spent on a court case which they may or may not win. oh and wheres the prospectus that they keep promising?? bit late in the day to do that isnt it?? but u still say the trust can run the club???

 

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I am happy that the Pompey supporters trust are preferred to chanrai. But we are trying to get out of debt and the first thing that the trust do is borrow money from Portsmouth city counsel.............

 

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8m in parachute payments are already spoken for!!! 3m in the bank to buy the ground so wheres the money to pay the wages and the day to day running going to come from?? ive asked the trust plenty of questions and have been fobbed off plenty of times!!! they are far from being open!!! so IF the bid is accepted it cant be completed until the money has been collected IF people are willing to part with their cash which i doubt very much!!! you are welcome to believe in the trust but mark my words it will end in tears!!!

 

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will you ever see a return for your investment?? If I give a grand, I expect at some point to start seeing an annual return

 

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Bugger, now i've got to find another £900 from somewhere!!

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Obviously most of the few are in celebratory mood and have already started planning for a monstrous 14k attendance at Fratton on Saturday, but here's some Pompey fan comments I just nicked from Facebook:

 

before they even think about finalising any deal they have to either find another 4m or renegotiate a deal with football creditors. then theres the court case to get control of fp which wont be cheap. so you pledge your 1k and it gets spent on a court case which they may or may not win. oh and wheres the prospectus that they keep promising?? bit late in the day to do that isnt it?? but u still say the trust can run the club???

 

-----

 

I am happy that the Pompey supporters trust are preferred to chanrai. But we are trying to get out of debt and the first thing that the trust do is borrow money from Portsmouth city counsel.............

 

-----

 

8m in parachute payments are already spoken for!!! 3m in the bank to buy the ground so wheres the money to pay the wages and the day to day running going to come from?? ive asked the trust plenty of questions and have been fobbed off plenty of times!!! they are far from being open!!! so IF the bid is accepted it cant be completed until the money has been collected IF people are willing to part with their cash which i doubt very much!!! you are welcome to believe in the trust but mark my words it will end in tears!!!

 

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will you ever see a return for your investment?? If I give a grand, I expect at some point to start seeing an annual return

 

------

 

Bugger, now i've got to find another £900 from somewhere!!

 

 

Erm they won't be borrowing anything from the council.

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@pn_neil_allen: At the risk of sounding like the biased, unbalanced and unprofessional journalist I have been called - Magnificent work #Pompey Trust!!!

 

 

Ah are we being a little previous here? They've only been named the preferred bidder not the new owners. We know all about preferred bidders at this end of the M27. However I know most of you here will be with me when I say I sincerely hope their bid is successful. :)

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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?

 

They don't get the loan they're expecting from PCC? :o

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That was when they started to seek help from the property developers.

 

Which happened to coincide with them deciding not to make the details of their new bid public...(when they were more than happy to be transparent with their initial bid) #makeofthatwhatyouwill

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Interesting to see how the Trust is constituted. I may be wrong, but do all the 'trustees' then assume a joint liability?

 

Very generous of those putting in large sums to have the same voting and constitutional rights as those who chipped in the minimum £1k. ;)

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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

 

 

 

so the plan is to spend all the money that they have, up front, on buying the club and it will all be fine as the pledges will definitely be enough to cover running costs.

 

that sounds like a prudent way to start the new era.

 

good to see that things have changed

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They don't get the loan they're expecting from PCC? :o

 

Wonder if PCC only agreed this because they never expected PST to come out top. Wouldn't be surprised if there was some stipulation that PST could not meet that led to the offer being withdrawn.

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I hate myself for saying it because (a) she's a Tory and (b) a skate (not entirely sure which is worst) but Ms Mordaunt clearly should be MP for Bristol East & West (oyo)

 

I'd put my tick in her box.

 

guys, you really wouldn't. There's a reason most photos of her are head only.

 

from the neck down she's a whale (pun intended)

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Wonder if PCC only agreed this because they never expected PST to come out top. Wouldn't be surprised if there was some stipulation that PST could not meet that led to the offer being withdrawn.

 

The PCC loan offer was conditional on there being no other bids on the table. There is at least one other bid still on the table (as far as we know) ergo the PCC are under no obligation to trigger the loan...

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I'm a pledge maker, fully £100 deep member of the PST, personally I'm pretty pleased this has finally happened as I could do with that £97.50 before Christmas - got a weekend in Liverpool to pay for too! Serious the timing is a nightmare for them, not a case of finding £900 but a lot will NEED the £97.50.

 

Will wait for the phantom prospectus first though as I could do with a laugh.

 

If anyone wants to know why I pledged well it's pretty simple - I hate the ****s with a passion, nothing will hurt them more than getting so close then realising their support is full of big mouthed pub bores with empty wallets looking for the first opportunity to bass the buck and bail out.

 

Liquidate then in Feb please. No mercy. Up the Saints!

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I'm a pledge maker, fully £100 deep member of the PST, personally I'm pretty pleased this has finally happened as I could do with that £97.50 before Christmas - got a weekend in Liverpool to pay for too! Serious the timing is a nightmare for them, not a case of finding £900 but a lot will NEED the £97.50.

 

Will wait for the phantom prospectus first though as I could do with a laugh.

 

If anyone wants to know why I pledged well it's pretty simple - I hate the ****s with a passion, nothing will hurt them more than getting so close then realising their support is full of big mouthed pub bores with empty wallets looking for the first opportunity to bass the buck and bail out.

 

Liquidate then in Feb please. No mercy. Up the Saints!

 

:adore:

:adore:

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I'm a pledge maker, fully £100 deep member of the PST, personally I'm pretty pleased this has finally happened as I could do with that £97.50 before Christmas - got a weekend in Liverpool to pay for too! Serious the timing is a nightmare for them, not a case of finding £900 but a lot will NEED the £97.50.

 

Will wait for the phantom prospectus first though as I could do with a laugh.

 

If anyone wants to know why I pledged well it's pretty simple - I hate the ****s with a passion, nothing will hurt them more than getting so close then realising their support is full of big mouthed pub bores with empty wallets looking for the first opportunity to bass the buck and bail out.

 

Liquidate then in Feb please. No mercy. Up the Saints!

 

Nice job. :D

 

Good luck getting your £97.50 back. :scared:

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@bobbeech: I've had calls texts & emails from Hammers, Millwall Spurs fans & even a scummer congratulating Pompey on todays news

 

I'd certainly like to congratulate Beech and all the Trust members for all their efforts that have brought about this exciting news.

 

Without a doubt this is the best case scenario to bring the most entertainment value to all of us, apart from Trev choosing that Joe Cala lunatic to take them on. If it comes about, I'll look forward to the litigation that Chinny is bound to commence, the collection of the pledges, the arrangement of the Trust hierarchy with too many chiefs and not enough Indians and the accompanying ego wars to come, to start off with.

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Hope you are all able to get your money back but knowing that lot are not very good at paying back money....

 

What action will you have to take when they give an excuse that they are unable to give a refund at the moment

and how much in legal fees will it cost you ??

 

I did think of pledging money but chickened out as I just couldn't bring myself to trust anything "they" say.

 

.

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It's about £27 if I remember correctly to file for and receive a CCJ against a company that refuses to pay what it legally owes ;)

 

The question should be, which Saints fan will be the first to register a CCJ against PST and how many CCJs do they need to fail the FPPT?

 

If every Saint owed money did that it would be wonderful for the comedy and I would love to see the FL reaction.:lol:

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how many CCJs do they need to fail the FPPT?

 

Knowing the Football League, it will be 1 more CCJs than the amount lodged. Whatever suits the agenda.

 

The Football League are only concerned about 1 thing. THEIR REPUTATION! They will not be seen as the ones to push Pompey over the edge.

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I don't think that both ends of the M27 have ever been so united as they are now in welcoming this bit of news. :lol:

 

The PCC can't give the loan while there are other bids on the table - both Portpin and (apparently) Portco are still in the running.

The PST are dependent on pledges for working capital.

There's only 4 months to the next PP and Chinny's best chance of walking away with cash.

Chinny is annoyed now.

Chinny is also almost certainly working on his strategy for winning the Fatpipe Park land valuation court case.

Even if the PST are somehow successful, it's going to be mostly financed by property developers.

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