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Pompey Takeover Saga


Fitzhugh Fella

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So, no news from Court yet. Can't say I'm surprised.

 

If Pompey had won, it would have been all over the headlines by now. But if they lost, I expect they'd scuttle off down to the PL HQ with their tails between their legs, and I can't see HMRC posting it all over their fans chatboards.

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Interesting to hear David Sullivan at the West Ham press conference,he sounds adamant that a Premier League club,and not WHU obviously, will definately go into admin this season and also that the debts seriously outweigh the value of the club.

And that club will cease to exist.

 

Sullivan 'it would not be fair of me to name that club'.........i wonder who that could be.....

 

I wonder if at any point he initially turned his attentions to PFC and thought against it after looking a little closer into their financial woes.

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Interesting to hear David Sullivan at the West Ham press conference,he sounds adamant that a Premier League club,and not WHU obviously, will definately go into admin this season and also that the debts seriously outweigh the value of the club.

And that club will cease to exist.

 

Sullivan 'it would not be fair of me to name that club'.........i wonder who that could be.....

 

I wonder if at any point he initially turned his attentions to PFC and thought against it after looking a little closer into their financial woes.

 

Man Utd?:)

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Cant wait for the statement from Portsmouth saying they have won, but have agreed to let the court uphold the winding-up order.

 

Also, nice to hear David Sullivan at the West Ham press conference saying he expects a (un-named) Premiership club to go into administration before the end of the season. Wonder who he meant?

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Cant wait for the statement from Portsmouth saying they have won, but have agreed to let the court uphold the winding-up order.

 

Also, nice to hear David Sullivan at the West Ham press conference saying he expects a (un-named) Premiership club to go into administration before the end of the season. Wonder who he meant?

 

He also said that if he and David Gold hadn't been big, big West Ham fans they wouldn't have gone anywhere near it because as a business decision it doesn't stack up. If they think that of West Ham, what would any potential investor think of P*rtsm*uth?

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He also said that if he and David Gold hadn't been big, big West Ham fans they wouldn't have gone anywhere near it because as a business decision it doesn't stack up. If they think that of West Ham, what would any potential investor think of P*rtsm*uth?

 

That depends on whether the potential investor considers himself investing in a football club or a potential property development site

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Is that it then? How long do they get to find the money or do the stadium gates get locked today for the last time?

The actual winding-up petition will be heard some time next month (11th, I think) - they have from now until then to find the money. Good luck to them, they're going to need it...

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Is that it then? How long do they get to find the money or do the stadium gates get locked today for the last time?

No. It just means that the winding up petition will be heard as planned on Feb. 10 So I guess that's how long they've got to find the money, unless they're daft enough to think they'll win in Court, and won't need to pay up.

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It would be a decent thing if Saints fans showed a bit of class and did not go onto their sites to rub it in.

Those lads are decent football fans, and whilst they dislike us they will be hurting.

They love their club like we do ours and so should refrain .

I know it is not the end but ...

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It would be a decent thing if Saints fans showed a bit of class and did not go onto their sites to rub it in.

Those lads are decent football fans, and whilst they dislike us they will be hurting.

They love their club like we do ours and so should refrain .

I know it is not the end but ...

 

Agreed. Their sites do make for bloody good reading though! :)

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I think it's also important to try and retain some sort of perspective following (very) recent developments. The "excitement" of the Skates' imminent demise should be weighed against the fact we may not have a derby game to look forward to in future seasons.

 

Sure, let them suffer, but let's not wish the worst on them, eh?

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Watching South Today and it just goes to show how deluded some of them are. One of them stated..

 

"I can't see it happening, the fanbase here is just too strong... I can't see it happening.."

 

That's the fanbase that has "packed" Fratton park to the rafters each week eh? The fanbase that half filled Fratton for a home cup game knowing full well that they were struggling to even pay the players wages....

 

It's that sort of deluded behaviour that has got them where they are now...

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Assuming they do go into administration I reckon its going to be one hell of a job sorting out who owns what and who paid who etc to the point where they can sensible come out of administration.

 

Its reminicent of a shop near where I live where it appeared one day on watchdog as being the centre of some travel scam. The people cleared out overnight but the place was empty for years afterwards, one would guess because of the contractual problem they left behind in terms of ownership etc. Anyone who thinks they will go into administration, pay 5p in the pound and be back up and running within days is going to disappointed I feel.

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It would be a decent thing if Saints fans showed a bit of class and did not go onto their sites to rub it in.

Those lads are decent football fans, and whilst they dislike us they will be hurting.

They love their club like we do ours and so should refrain .

I know it is not the end but ...

 

Agreed.

 

I assume that reading their sites is alright, though...

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It would be a decent thing if Saints fans showed a bit of class and did not go onto their sites to rub it in.

Those lads are decent football fans, and whilst they dislike us they will be hurting.

They love their club like we do ours and so should refrain .

I know it is not the end but ...

 

+ 1

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Assuming they do go into administration I reckon its going to be one hell of a job sorting out who owns what and who paid who etc to the point where they can sensible come out of administration.

 

Its reminicent of a shop near where I live where it appeared one day on watchdog as being the centre of some travel scam. The people cleared out overnight but the place was empty for years afterwards, one would guess because of the contractual problem they left behind in terms of ownership etc. Anyone who thinks they will go into administration, pay 5p in the pound and be back up and running within days is going to disappointed I feel.

 

I think you're right. Certainly, it's clear that PFC don't own any of the ground which surrounds Fratton Park - it's pretty much all owned by Gaydamak one way or another, with interests held by a variety of lenders. There was a link to an article detailing all of this a few pages back. So anyone looking to buy PFC out of administration would potentially get club and ground (and the latter only if Chainrai wants to play ball), but nothing else - unless, of course, they're willing to negotiate for the rest of the land.

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It would be a decent thing if Saints fans showed a bit of class and did not go onto their sites to rub it in.

Those lads are decent football fans, and whilst they dislike us they will be hurting.

They love their club like we do ours and so should refrain .

I know it is not the end but ...

 

:confused:

 

-1

 

**** 'em.

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What's happened regarding this appeal, and what does it mean for the club? I'm confused.com.

 

the failed appeal means they have to show up in court on Feb 5th with evidence that they can pay back the debt (or should they have done so in advance, evidence of that).

 

Edit: does the debt have to be paid by the 10th or do they just have to show that funds are now available and payments are in place?

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So in other words, if they don't get some non-loan investment in the next month then they are completely fúckt. Cheers for teh info.

 

The HMRC won't care where the money comes from at this point a loan would be fine in the short term if they can find the £7-10m(?).

 

If they get past this problem it must only be a matter of time before another creditor issues a winding up petition.

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No. I think it means they will now have to show up in Court on Feb. 10, and prove that they don't owe any money to the tax man. If they can't, they'll get a few days (maybe 7 or even 14) after that to pay up what they owe or be wound up.

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