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Pompey Takeover Saga


Fitzhugh Fella

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Yuk. PST are asking the supporters to take a loan out with these guys so that they can then pay for Pompey. So they are basically asking that a lot of their supporters take on personal debt, no doubt one that many can't repay.

 

Loans

You can apply for a loan up to £7,000. A loan can be repaid over between one and five years.

You must save at least 10% of the monthly loan repayment as well as the repayments on the loan, and a dividend may be added to those savings each year.

Interest rates on loans start from 1% per month (APR 12.68%) with a maximum of 2% per month (APR 26.80%), depending on our credit profile. The interest rate is fixed for the loan period, it never goes up. Your loan is never affected by changes to the Bank of England base rate.

Interest rates are competitive, especially compared with most credit cards, payday loans and doorstep lenders. There are no hidden costs, no penalties for early repayment and no up front fees.

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Sigh, The rhetoric is entirely predictable...

 

The rest of the country told us this couldn't be done. Yet again, the fans of the last undeveloped big club in Britain have demonstrated that this is a different club, a special club, with special fans who never give up. The City on an island has a football club for a heart, and as time goes on that heartbeat will sound throughout football.
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The rest of the country told us this couldn't be done. Yet again, the fans of the last undeveloped big club in Britain have demonstrated that this is a different club, a special club, with special fans who never give up. The City on an island has a football club for a heart, and as time goes on that heartbeat will sound throughout football.

 

Bradford City, Sheffield Wednesday, Coventry City, Bristol City, Notts County, Everton..........

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It's getting ridiculous now.

 

Not content with shafting the local businesses, charities, and every single taxpayer in the country, now they've actively agreed a preferential rate to encourage their own fans to go into debt, just before Christmas, in order to allow the club to stagger on for a little longer.

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Loans

You can apply for a loan up to £7,000. A loan can be repaid over between one and five years.

You must save at least 10% of the monthly loan repayment as well as the repayments on the loan, and a dividend may be added to those savings each year.

Interest rates on loans start from 1% per month (APR 12.68%) with a maximum of 2% per month (APR 26.80%), depending on our credit profile. The interest rate is fixed for the loan period, it never goes up. Your loan is never affected by changes to the Bank of England base rate.

Interest rates are competitive, especially compared with most credit cards, payday loans and doorstep lenders. There are no hidden costs, no penalties for early repayment and no up front fees.

 

So when they go back into admin in two years, some fans will still have three years left to pay

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Page 3 right hand side. 'The club believes in fair play both on and off the pitch'.

 

Presumably, in the spirit of fairness, they are going to pay ALL their debts in full? . . . . .

 

Oh! At the top of that list 'The club will aspire to play at the highest level of competition possible'

 

So which one are they going to adhere to?

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The reality is that all football authorities and the court of law will bend over backwards to ensure that Portsmouth survive and thrive. I fully expect the Football League to deduct them no more points than the 10 and I even have my doubts that they will deduct that 10. The other 23 clubs in the league don't have the same power as Pompey and won't have the balls to confront the FL.

 

When it comes to the valuation of Fratton Park in the courts, it is obvious that the facts will be thrown out the window and Chainrai will be forced to sell up for a figure less than 3 million. Why we are even getting excited about this beggars belief, Chainrai will lose. The courts will bow down to the pressure and will NOT want to be seen as the people who kill Portsmouth FC. They will make 100% sure that they come out of this looking sweet.

 

Nobody wants to be seen as the man who killed Portsmouth FC. That is why they will survive and thrive.

 

Nobody will question their spending.

 

Nobody will question the 'fans' who 'own' the club.

 

All the authorities will be leniant once again when it does go pop and say the fans deserve a 2nd chance.

 

It's a never ending story.

 

Looks like OldNick has some serious competition for the "they're going to get away with it" crown. :)

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The PST folk fully expect the -10 and understand why they deserve it. However, that doesn't mean they won't appeal against it. We would in that situation.

 

The PST person that I've been in dialogue with for a while now has said this is the best deal they can cobble together and there is unease about the developers but without that element they are dead in the water.

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Sigh, The rhetoric is entirely predictable...

 

"The rest of the country told us this couldn't be done. Yet again, the fans of the last undeveloped big club in Britain have demonstrated that this is a different club, a special club, with special fans who never give up. The City on an island has a football club for a heart, and as time goes on that heartbeat will sound throughout football."

 

 

 

...and we all know what goes on in small island communities...

 

 

 

 

 

"Yer sister is yer muvva, yer fa............

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A 5 year loan of 7,000 at the higher rate of 26.80% will mean paying 5774 in interest with monthly payments of £212 (according to http://money.guardian.co.uk/calculator/form/0,,603119,00.html)

 

Don't forget they also have to save 10% every month as well so that 212 GBP will actually be 233 GBP ( if my maths are correct and they might not be )

 

"You must save at least 10% of the monthly loan repayment as well as the repayments on the loan"

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those of a nervous disposition had better brace yourselves because the Trust needs to desperately sell shares....the spinfest has gone into overdrive!

 

That means we're going to be treated to loads of hard sell articles from their chosen media partners.

 

MoneyfieldsPenny launched the sales campaign with her rather inaccurate rallying cry celebrating the glorious success of the Trust - trailblazing and within touching distance of glory - er no, that'll be 0 out of 2 Penny.

But you never were good with figures, ask the old man, he can tell you how many wards at QA have shut thus far thanks to tax-theft that was vocally supported by you and the political DLT-lookalike.

 

If this sort of hype makes you want to spew, you are in for a sickly few weeks.

 

The Property Development Trust's sales campaign seems to have two main messages.

1. Gloss over the fact that a completed deal is a LONG way off.

2. Pretend that this isn't a property developer-led takeover attempt.

 

 

But they might achieve their goal...

If they can fool the public into believing that this is a fans buyout, and also pretend it's the biggest and bestest ever and is a blueprint for lesser clubs everywhere.

And as long as no one on Portsea has a proper look at the financial details, and Chinny falls in love with the new club, they might just be able to share a level of control until the next administration.

 

In the meantime brace yourself for myth after myth - to save time they are now rewriting history as it happens!

 

And I apologise now for repeating this rant in a couple of weeks when the sick bucket overflows and the misleading and blatant sales campaign dressed up as editorial, gets too much.

 

As for the Trust inviting supporters to go into debt via loan shark style interest rates, it is ironic, distasteful - and the perfect way to marry the history of this sick business with it's predictably chaotic future.

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One thing I expected (well from a normal prospectus anyway) was some indication of what division their projected figures were based on. I'm assuming that they are basing their income on staying in L1, so what happens when the 10 points are deducted and they get relegated? Or have they been savvy enough to base this on L2 income and just not tell the fans that (yeah right)?

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Even flogging tacky T-shirts now to try to get some much needed funds. As usual - you just couldn't make this up! LOL

 

Neil Allen ‏@pn_neil_allen

Fancy one of T-shirts being sported by #Pompey models? Proceeds go to fighting Chainrai in court. http://www.pompeys12thman.co.uk/12th-man-online-store.php … pic.twitter.com/4qzygWGb

 

F*ck me; they call us obsessed, yet in their direst hour of need they're trying to raise funds by designing and selling a t-shirt dedicated to us!

 

So, so lacking in self-awareness.

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If the whole bid relies on the court making BC sell FP for under 3m it is laughable. I do realise that Pompeys appearances in court have seen them run rings around the legal system but surely BC will be clever enough to actually put under the judges nose that developers are backing the bid, not because they love the football club but they are out to get a real snip. If he pulls the files from the court appearance when the lady judge was given the clubs valuation by them at that stage , i cant recall the figure given but i thought in the region of 10m. Whilst the Trust could argue there has been a drop in value i doubt they could get away with 70% or more. it would be sweet that there sidestep at that stage now meant they were torpedoed by the same valuation.

 

Good luck to the trust if they take the correct medicine, but it seems to me that they want their cake and eat it.

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Even flogging tacky T-shirts now to try to get some much needed funds. As usual - you just couldn't make this up! LOL

 

Neil Allen ‏@pn_neil_allen

Fancy one of T-shirts being sported by #Pompey models? Proceeds go to fighting Chainrai in court. http://www.pompeys12thman.co.uk/12th-man-online-store.php … pic.twitter.com/4qzygWGb

 

And if you are unfortunate enough to be in the vacinity of a p***k wearing that T-shirt, punch him squarely in the face.

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11,792.

 

Bestest.

 

Didn't Ho, or PES - one of those muppets anyway - tell us that they had sold 11k season tickets? If so, I guess that means maybe 200 or so walk ups!

 

Perhaps the web fingered residents have seen through the thinly veiled sales patter and jingoism and decided to keep their money firmly in their pockets! I doubt they're keeping it to pay for a share of the property developer's new venture ;)

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Genuine post on one of their forums.

 

When the PST finally get control of PFC wouldn't it be great if Mick and co could arrange a friendly between the 12th Mans PFC and an ex Premiership All Star team ( from the Pompey Prem years ). Get the likes of Thierry Henry etc back to the Park. Apart from the obvious of seeing some great players again would also do the PST bank account some good

 

Any suggestions of an Ex Prem team or players you would like to see. Have to be retired or no longer in Prem.

 

Truely deluded if they think that will ever happen.

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They are teetering on the brink - I'm starting to feel sorry for them.

 

 

Then you hear some deluded, cross-eyed, toothless, sister-bothering inbred spouting about how the scummahs at St Fairys owe the taxman a billion quid and Markus drove a tank, and the sympathy slips away faster than an aroused Avram in a police raid.

 

Karma takes its time, but boy when it gets going the momentum is astonishing.

 

I've asked before and been shot down, but surely, there cannot be anyone still who honestly believes that there has been NO sort of punishment dished out??

Sure they have got away with all kinds of criminality and there should be minus 30 on the way, but see the poor sick beast now, it needs shooting.

Look at that feeble thing, look at the table, and tell me that they have 'got away with it'....

 

 

The weight of historic debt could still sink this business right through League Two and into oblivion.

 

Overpaying wages last season earned a point at St Marys, insolvent trading and stealing from charities etc earned the 4-1 cup win, and the victory over Cardiff.

Put those factors together and you see why the business is on its knees and facing liquidation.

They are reaping now.

No fans, no future - even Bournemouth can rightly no longer regard them as serious rivals.

 

And on the club gravestone it will say, They sold their soul for three days out. :scared:

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@solentsport: #Pompey caretaker boss Guy Whittingham after 1-0 defeat to Doncaster: "I think we deserved 3 points.. we've had plenty of efforts on goal"

 

Replace with:

 

Avram

Cotterill

Appleton

 

same old Portsmyth, always a different game to the one everyone else sees!

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Didn't Ho, or PES - one of those muppets anyway - tell us that they had sold 11k season tickets? If so, I guess that means maybe 200 or so walk ups!

 

Perhaps the web fingered residents have seen through the thinly veiled sales patter and jingoism and decided to keep their money firmly in their pockets! I doubt they're keeping it to pay for a share of the property developer's new venture ;)

 

Would that 200 walk ups include away fans?

 

Doncaster (well done BTW) brought that many (200) to SMS if I recall correctly.

 

The bestestest? Meh.

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[quote=rallyboy;

 

 

 

I've asked before and been shot down, but surely, there cannot

 

 

be anyone still who honestly believes that there has been NO sort of punishment dished out??

Sure they have got away with all kinds of criminality and there should be minus 30 on the way, but see the poor sick beast now, it needs shooting.

Look at that feeble thing, look at the table, and tell me that they have 'got away with it'....kicking, when they have dropped out of the league into the Conference then they will have taken a bit of punishment

 

 

The weight of historic debt could still sink this business right through League Two and into oblivion.

 

Overpaying wages last season earned a point at St Marys, insolvent trading and stealing from charities etc earned the 4-1 cup win, and the victory over Cardiff.

Put those factors together and you see why the business is on its knees and facing liquidation.

They are reaping now.

No fans, no future - even Bournemouth can rightly no longer regard them as serious rivals.

 

And on the club gravestone it will say, They sold their soul for three days out. :scared: well I still say they have got away with it, as soon as they have tumbled down the leagues to the Conference then they will have paid a bit of debt for their 7 to 1o years of deceit. So far they have had a couple years of hurt, it is nothing against the glory times, you have too short memory Rallyboy

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well I still say they have got away with it, as soon as they have tumbled down the leagues to the Conference then they will have paid a bit of debt for their 7 to 1o years of deceit. So far they have had a couple years of hurt, it is nothing against the glory times, you have too short memory Rallyboy

 

Quite right, as long as they keep saying, "Yes, but it was worth it for the cup win.... 4-1 at St Mary's etc...." they deserve everything they get. Until that tune is changed the karma will continue.

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well I still say they have got away with it, as soon as they have tumbled down the leagues to the Conference then they will have paid a bit of debt for their 7 to 1o years of deceit. So far they have had a couple years of hurt, it is nothing against the glory times, you have too short memory Rallyboy

 

Dear Nick

 

They won't be tumbling down the leagues to the Conference.

 

All skate fans know that the FL won't let anything bad happen to them innit.

 

How many home games they have left this season? Not a lot of time for the dedicated to say farewell to nottarf

 

Oh. I noticed we sold out at QPR away for today's game.

 

I also saw that our away game at Liverpool sold out.

 

How did the bestest do at their away games?

 

(Met a lady in an elevator in the hotel in Budapest. (No not that sort). She was working on Season 3 of The Borgias. Apparently they have been asked to make the next season of The Walking Dead on the south coast of England.)

Edited by dubai_phil
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Just had a look on POL, Corp Ho aka Banker has posted extracts from this thread direct onto their board - didn't they almost have a breakdown when someone did similar with POL stuff on there?

 

Love the way Ho talks about this thread but fails to mention that he used to be one of this thread's most frequent posters until he got owned once to many often. Come back on here Ho and provide us with some more lols, you gutless bull****ting tit.

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Just had a look on POL, Corp Ho aka Banker has posted extracts from this thread direct onto their board - didn't they almost have a breakdown when someone did similar with POL stuff on there?

 

Surely not!

 

The corpse doesn't come on here any more - pretty sure he's made that announcement on POL, the same as Bill has [Hi Bill and banker[sic]].

 

Such a bunch of nutjobs we must be on here, that they just can't keep away!

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Hi all,

 

There was a good bit of interest in the Trust bid today, with a lot of people taking the News supplement which was being handed out by people (including myself, outside the Trust bus). Many thanks also to all who gave cash in the buckets towards Prostate Cancer, on behalf of Scott Mclachlan's Walkthe92.

 

Also a lot of interest with the t-shirts, with many enquiring about availability. There might be one or two pictures in the News on Monday as well with some fans wearing the t-shirts outside the Trust bus ninja.png

 

A lot of work is going into this bid process from a great many people. I really wish some could know exactly what has been sacrificed through this by some of the team, especially when they're being met by flack and comments from some who are only looking after their own position and interest. The team will do everything to make this work, they will make it work and this will be successful, I have no doubt about that.

 

On a side note, I know one of the supplements made it's way to Joe Michalczuk, signed by me with my best wishes (not my idea at first, but it seemed like a bit of fun). Think it is now in pieces.

 

Pompey Scot

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Just had a look on POL, Corp Ho aka Banker has posted extracts from this thread direct onto their board - didn't they almost have a breakdown when someone did similar with POL stuff on there?

 

Love the way Ho talks about this thread but fails to mention that he used to be one of this thread's most frequent posters until he got owned once to many often. Come back on here Ho and provide us with some more lols, you gutless bull****ting tit.

 

The funny thing is that on here he was always the village idiot, in comparative stakes over there he is Milton Friedman.

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