Pompey Takeover Saga

[dingbattigger]

@pn_neil_allen: On talkSport, Danny Kelly has always treated #Pompey with respect. Unlike some. Here he interviews me last night. http://t.co/hxTDJvo5

 

Maybe someone should point out to Neil that respect is not a God given right, it has to be earned and not by cheating local charities and businesses

[dubai_phil]

Dear PTS, congratualtions on getting this far and good luck with the next steps.

 

Here is some advice

 

http://www.bbc.co.uk/sport/0/football/19955525?utm_source=BBC&utm_medium=twitter

 

 

 

There, I've done my bit.

 

Now back to the Argos Catalogue to see what mega Toasters they can deliver down here in 12 weeks or more

[OldNick]

I know we think they are not bright but surely they would not get property developers involved if they are likely to build on the ground.surely they will be looking to develop Gaydameks land connected to FP and rent the ground back. It seems to me a fantastic deal for all parties. The big question is will BC want to throw a lot of money at this. He will know that the league and politicians are on the Skates side. Cameron's neighbour Charlie Brooke's is a Pompey fan,no doubt he has been in the PM,s ear,no doubt Penny,s husband the tax inspector may have been in HRMC ,s case as well.

[PES]

Been quite surprised at the goodwill extended by a few Summer mates. Begrudgingly impressed at what the PST has achieved. I feel very proud of the fans efforts and am convinced the PST will complete. I think things will become clear on the finance front shortly. You will be pleased to know that Pompey will be run prudently going forward. No more shame heaped on the club by various crims. We look forward to becoming the biggest community run club in the UK and cementing our reputation as the most loyalest, noisiest, pluckyestbravest, bestest most passionate fans in the land, as the media loves to label us. Good job you guys know the truth eh?!? :-D

[hypochondriac]

Been quite surprised at the goodwill extended by a few Summer mates. Begrudgingly impressed at what the PST has achieved. I feel very proud of the fans efforts and am convinced the PST will complete. I think things will become clear on the finance front shortly. You will be pleased to know that Pompey will be run prudently going forward. No more shame heaped on the club by various crims. We look forward to becoming the biggest community run club in the UK and cementing our reputation as the most loyalest, noisiest, pluckyestbravest, bestest most passionate fans in the land, as the media loves to label us. Good job you guys know the truth eh?!? :-D

 

As you love to label yourselves you mean.

[saint si]

Been quite surprised at the goodwill extended by a few Summer mates. Begrudgingly impressed at what the PST has achieved. I feel very proud of the fans efforts and am convinced the PST will complete. I think things will become clear on the finance front shortly. You will be pleased to know that Pompey will be run prudently going forward. No more shame heaped on the club by various crims. We look forward to becoming the biggest community run club in the UK and cementing our reputation as the most loyalest, noisiest, pluckyestbravest, bestest most passionate fans in the land, as the media loves to label us. Good job you guys know the truth eh?!? :-D

 

Be careful. You haven't achieved anything yet.

[View From The Top]

Been quite surprised at the goodwill extended by a few Summer mates. Begrudgingly impressed at what the PST has achieved. I feel very proud of the fans efforts and am convinced the PST will complete. I think things will become clear on the finance front shortly. You will be pleased to know that Pompey will be run prudently going forward. No more shame heaped on the club by various crims. We look forward to becoming the biggest community run club in the UK and cementing our reputation as the most loyalest, noisiest, pluckyestbravest, bestest most passionate fans in the land, as the media loves to label us. Good job you guys know the truth eh?!? :-D

 

Filthy dirty, thieving skate c**ts.

[Torres]

I feel very proud of the fans efforts and am convinced the PST will complete.

 

We can expect to see Portpin announced as new owners very soon then.

[Torres]

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:

 

Let's not let this get lost amongst the rest of the hilarity.

 

Neil, you're a knob.

Edited 19 October, 2012 by Torres

[Pedro]

Been quite surprised at the goodwill extended by a few Summer mates. Begrudgingly impressed at what the PST has achieved. I feel very proud of the fans efforts and am convinced the PST will complete. I think things will become clear on the finance front shortly. You will be pleased to know that Pompey will be run prudently going forward. No more shame heaped on the club by various crims. We look forward to becoming the biggest community run club in the UK and cementing our reputation as the most loyalest, noisiest, pluckyestbravest, bestest most passionate fans in the land, as the media loves to label us. Good job you guys know the truth eh?!? :-D

 

There is only one option now for Saturday, a full house and for every other home game from now on.

 

Preferred bidder does not mean ownership, BC won't let go easily.

[anothersaintinsouthsea]

Been quite surprised at the goodwill extended by a few Summer mates. Begrudgingly impressed at what the PST has achieved. I feel very proud of the fans efforts and am convinced the PST will complete. I think things will become clear on the finance front shortly. You will be pleased to know that Pompey will be run prudently going forward. No more shame heaped on the club by various crims. We look forward to becoming the biggest community run club in the UK and cementing our reputation as the most loyalest, noisiest, pluckyestbravest, bestest most passionate fans in the land, as the media loves to label us. Good job you guys know the truth eh?!? :-D

 

were these ones you made during the school holidays?

[hutch]

Been quite surprised at the goodwill extended by a few Summer mates. Begrudgingly impressed at what the PST has achieved. I feel very proud of the fans efforts and am convinced the PST will complete. I think things will become clear on the finance front shortly. You will be pleased to know that Pompey will be run prudently going forward. No more shame heaped on the club by various crims. We look forward to becoming the biggest community run club in the UK and cementing our reputation as the most loyalest, noisiest, pluckyestbravest, bestest most passionate fans in the land, as the media loves to label us. Good job you guys know the truth eh?!? :-D

Can you let us know how that "community run club" thing works. If it works out, the PST will be a minority stake holder in a consortium which owns the club. Depending on take-up of pledges, probably between 20% & 30% ownership, but could be a lot less if the senior partners have to pay Chinny more for the ground.

 

Obviously the "prospectus" is still top secret stuff, but if it ever comes out, I expect we'll see that the PST doesn't own the club, but does own some shares in a company that does own the club.

[trousers]

Been quite surprised at the goodwill extended by a few Summer mates. Begrudgingly impressed at what the PST has achieved. I feel very proud of the fans efforts and am convinced the PST will complete. I think things will become clear on the finance front shortly. You will be pleased to know that Pompey will be run prudently going forward. No more shame heaped on the club by various crims. We look forward to becoming the biggest community run club in the UK and cementing our reputation as the most loyalest, noisiest, pluckyestbravest, bestest most passionate fans in the land, as the media loves to label us. Good job you guys know the truth eh?!? :-D

 

So, no more buying FA Cup wins, and 4-1 'famous victories' against local teams two divisions below you (not forgetting last minute equalisers), with money you haven't got then? Where's the fun in that?

Edited 19 October, 2012 by trousers

[Gorgiesaint]

Colin Farmery on Talksport now

[trousers]

Colin Farmery on Talksport now

 

"Creditors can be assured they'll get what they're owed".....yeah, all 4% of c.£150,000,000. Well done Pompey.

[trousers]

Colin Farmery on Talksport now

 

"If we get Portpin's agreement we can tie this up pretty quickly"

[Gorgiesaint]

Says the Trust will be the majority shareholder - will get in a professional CEO.

 

In partnership with property developer who will buy the ground & lease to the club... medium/long term will be for the ground to be sold back to the club

 

Portpin have secured debenture on Fratton Park, like to think that we can work with Portpin to negotiate a sensible solution. Haha thinks if it goes to court will be sorted within weeks, worse case they'll be in charge by December!!

 

(Andy Gray said afterwards - I was thinking a year to 18 months whilst he was talking)

 

They are in cloud-cuckoo land.

[trousers]

Colin Farmery on Talksport now

 

Richard Keys: "Has anyone thought about paying back the £65million yet?"

 

Cue lots of laughter and chuckles from Mssrs Keys, Gray and Farmery.

 

Yes chaps, it's a laughing matter isn't it?

[hypochondriac]

"Creditors can be assured they'll get what they're owed".....yeah, all 4% of c.£150,000,000. Well done Pompey.

 

Isn't it less than four?

[trousers]

Isn't it less than four?

 

I've lost count to be honest. Maybe I should stick to the generic term of "peanuts" rather than try and keep track of the finances in Pompey la la Land

[stevegrant]

0.4%

[hypochondriac]

0.4%

 

That's the one.

[lifeintheslowlane]

Richard Keys: "Has anyone thought about paying back the £65million yet?"

 

Cue lots of laughter and chuckles from Mssrs Keys, Gray and Farmery.

 

Yes chaps, it's a laughing matter isn't it?

 

I expect all the creditors were chuckling along with that one too.

[rallyboy]

As has been highlighted, however they dress it up to please the few -

 

Fans form a Trust, put in money and buy club = fan takeover.

 

A consortium led by property developers putting up the main money supported by a couple of thousand fans, gathered under the banner of a Trust = A property developer consortium takeover.

 

 

The Trust seems reluctant to publish the precise detail of their arrangements with their property developers friends, is it similar to the council gifting them land and letting them make £20M?

 

Put yourself in the position of the property developer.

Priorities - First. Make money from the land, and keep the club onside - if they pay their way.

Last. Fund the club back to the PL.

 

Chancers might be a harsh term, but where have these property-developing supporters been for the last two years when everyone was desperately seeking funds?

They only wandered into town when they saw the opportunity to piggyback the Trust all the way to a land deal.

 

 

Ironic thing being that if you study the CV of your average loan shark you often find that their career path includes a spot of high-risk development.

 

Despite the fact that Portsea is now decked in bunting and the Lidl own brand Blue Nun corks are popping, Chanrai's position as creditor leaves him in control.

 

They have to negotiate with him, they cannot force him out of the deal.

And now he's annoyed.

 

 

RB Tips for the day.

 

1. When getting into bed with property developers, read the small print VERY carefully, then read it again - as you might find yourself without a ground.

2. Don't hang party bunting near a naked flame.

3. Be wary of a wounded loan shark, he'll be back - either for his money, or your lungs to wear as a waistcoat.

[Kingsbridge Saint]

So the Trust get strung along for about 4 months while PKF keep making encouraging noises and trousering £9,000 per day. Then the next tranche of parachute money comes in and they say 'sorry guys, you haven't got the resources'. And hit the liquidate button. All makes perfect sense to me. Trust or bust, and I reckon the latter is odds on still.

[Torres]

So the Trust get strung along for about 4 months while PKF keep making encouraging noises and trousering £9,000 per day. Then the next tranche of parachute money comes in and they say 'sorry guys, you haven't got the resources'. And hit the liquidate button. All makes perfect sense to me. Trust or bust, and I reckon the latter is odds on still.

 

It's the best return for Chinny if he can't buy the club. He gets the next PP and the proceeds from flogging FP to the same property developers who are trying to buy it now. It's very much in his interests to be as obstructive as possible.

[hutch]

Says the Trust will be the majority shareholder -

The only way I can see that one working is if their new-found friends aren't putting in equity, but are in fact lending them money to pay off Chinny, secured against something.

[Doctoroncall]

"Creditors can be assured they'll get what they're owed".....yeah, all 4% of c.£150,000,000. Well done Pompey.

 

You might be right as an average! As that is a combination of football, secured and unsecured creditors.

[trousers]

0.4%

 

I was only a factor of 10 out....easily done when one's brain has been well and truely (un)washed by Pompey financial shenanigans over the years...

[The Kraken]

The only way I can see that one working is if their new-found friends aren't putting in equity, but are in fact lending them money to pay off Chinny, secured against something.

 

Secured against Fratton Park, perchance? What delicious irony that could turn out to be......

[Ken Tone]

The only way the trust can be majority shareholders is if the club (mostly them) is owned by a completely separate entity from the ground (owned by 'friendly' developer)

 

So the plan is basically, buy the 'goodwill' of PFC and rent the ground from a new dodgy bloke. Totally different and innovative, community-owned my arse !

[Ken Tone]

Secured against Fratton Park, perchance? What delicious irony that could turn out to be......

 

Doesn't have to be that subtle even. Their 'friends' will own the ground from day one, but promise to sell it to them one day honest

[suewhistle]

"If we get Portpin's agreement we can tie this up pretty quickly"

 

Is that an accurate quote, Trousers?

 

Did he give any indication that they had information from Portpin that they were prepared to compromise?

 

What planet is he living on?

 

Has he considered a career in stand-up comedy?

 

O.K., most of those questions, apart from the first, were rhetorical. My reaction was laughing out loud and just shaking my head in disbelief.. This thread is going through an entertaining phase again!

[Toomer]

Says the Trust will be the majority shareholder - will get in a professional CEO.

 

In partnership with property developer who will buy the ground & lease to the club... medium/long term will be for the ground to be sold back to the club

 

Portpin have secured debenture on Fratton Park, like to think that we can work with Portpin to negotiate a sensible solution. Haha thinks if it goes to court will be sorted within weeks, worse case they'll be in charge by December!!

 

(Andy Gray said afterwards - I was thinking a year to 18 months whilst he was talking)

 

They are in cloud-cuckoo land.

 

 

And they will be back in administration if this happens to go through.

[alehouseboys]

A consortium led by property developers putting up the main money supported by a couple of thousand fans, gathered under the banner of a Trust = A property developer consortium takeover.

 

I'm sure the redevelopment of the ground is a priority...worked well at Burnden Park I remember.

 

[Gorgiesaint]

And in the intro's to the H & J show on Talksport.... "and we'll find out there's still a long way to go in the Portsmouth talkover".

 

You don't say....

 

(not sure when in the show they're covering it)

[trousers]

Is that an accurate quote, Trousers?

Yep

 

Did he give any indication that they had information from Portpin that they were prepared to compromise?

Nope

 

Delicious paradox, isn't it?

[trousers]

The only way the trust can be majority shareholders is if the club (mostly them) is owned by a completely separate entity from the ground (owned by 'friendly' developer)

 

So the plan is basically, buy the 'goodwill' of PFC and rent the ground from a new dodgy bloke. Totally different and innovative, community-owned my arse !

 

You know that, we know that.....but just watch the media expand their ill-informed "Plucky Pompey" mantra over the coming weeks and months...

Edited 19 October, 2012 by trousers

[Chez]

wonder if Supporters Trust CEO David Lampitt will still demand his money if the PST manage to get over the line?

[Chez]

I'm sure the redevelopment of the ground is a priority...worked well at Burnden Park I remember.

 

and Boothferry Park

[PhilippineSaint]

I'm sure the redevelopment of the ground is a priority...worked well at Burnden Park I remember.

 

 

Should read TESCO DEPRESSED

[Chez]

can't miss the opportunity as this always makes me smile

[stevegrant]

That tackle by the Bolton player would be a red card these days

[Sevvy]

Now wouldn't it be funny if the property developer was also a friend of Chinny's

[BigShadow]

can't miss the opportunity as this always makes me smile

 

Remember the yellow lines on the terracing to show where you should avoid standing if you wanted to see the whole pitch - just in case you couldn't work that out for yourself.

[FloridaMarlin]

That tackle by the Bolton player would be a red card these days

 

I think you'll find he's merely sat on an invisible flying carpet.

 

I also like the way Everton have managed to cram all of their players into less than a third of the pitch.

[Saint Lindford]

As has been highlighted, however they dress it up to please the few -

 

Fans form a Trust, put in money and buy club = fan takeover.

 

A consortium led by property developers putting up the main money supported by a couple of thousand fans, gathered under the banner of a Trust = A property developer consortium takeover.

 

 

The Trust seems reluctant to publish the precise detail of their arrangements with their property developers friends, is it similar to the council gifting them land and letting them make £20M?

 

Put yourself in the position of the property developer.

Priorities - First. Make money from the land, and keep the club onside - if they pay their way.

Last. Fund the club back to the PL.

 

Chancers might be a harsh term, but where have these property-developing supporters been for the last two years when everyone was desperately seeking funds?

They only wandered into town when they saw the opportunity to piggyback the Trust all the way to a land deal.

 

 

Ironic thing being that if you study the CV of your average loan shark you often find that their career path includes a spot of high-risk development.

 

Despite the fact that Portsea is now decked in bunting and the Lidl own brand Blue Nun corks are popping, Chanrai's position as creditor leaves him in control.

 

They have to negotiate with him, they cannot force him out of the deal.

And now he's annoyed.

 

 

RB Tips for the day.

 

1. When getting into bed with property developers, read the small print VERY carefully, then read it again - as you might find yourself without a ground.

2. Don't hang party bunting near a naked flame.

3. Be wary of a wounded loan shark, he'll be back - either for his money, or your lungs to wear as a waistcoat.

 

This from someone 'close' to the bid.

 

"The property developer element allows the Trust to restructure their finance plan as the £2.75m offer to Portpin for the debenture is taken on by the PD instead nor will it mean the Trust having to borrow from the council. A deal has been put in place to purchase all the land which allows development to take place".

 

"Portpin's valuation and multiple independent valuations of Fratton Park are disparate. Its not meeting Portpin's valuation of the ground that matter but getting to the point of being the preferred purchaser to enable a reasonable purchase of the ground using the power of the court to decide a fair value. You need to understand that point to understand the bid".

 

And on potential court case

 

"The Trust and their partner will have a value that they are willing to go to. If the fair value is more than that figure then the Trust will walk away. They are all about financial responsibility because they take their legal duties seriously".

 

S****horpe's cup final tomorrow http://www.portsmouthfc.co.uk/LatestNews/home/Shrewsbury-Ticket-Information-3811.aspx

 

Fans are urged to buy tickets in advance for Pompey’s League One clash with Shrewsbury on Saturday.

 

The club are anticipating a large volume of supporters to pay on the day and queues could be long.

More than 10,500 tickets have already been sold for the 3pm kick-off.

[EastleighSoulBoy]

"Creditors can be assured they'll get what they're owed".....yeah, all 4% of c.£150,000,000. Well done Pompey.

 

Surely you mean 0.4% after applying the two C.V.A.s ? It's getting to you mate!

[trousers]

http://www.portsmouth.co.uk/sport/pompey/pompey-boss-boosted-by-interest-1-4391893

 

Michael Appleton has claimed it would take a ‘hell of an offer’ to tempt him away from Pompey.

The News understands he remains high on the Clarets’ short-list, while Bolton have also considered him.

 

He said: ‘The way things stand, until a football club comes in and says to Trevor “can we have permission to speak to Michael” then nothing is going to happen.

‘I have stuck around for 11-and-a-half months, so it would take one hell of an offer and one hell of a football club to prise me away.

 

‘In the summer I was looking forward to what hopefully was going to be a really good season.

 

‘It was going to be a season where we had a competitive budget and I could bring some top-quality players to the club and go up straight away . The scenario we are in now is the opposite end of the scale to what I thought it was going to be.

’

Edited 19 October, 2012 by trousers

[trousers]

Surely you mean 0.4% after applying the two C.V.A.s ? It's getting to you mate!

 

Yep, I declared I'd lost my marbles about 10 posts ago