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Pompey Takeover Saga


Fitzhugh Fella

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http://www.chichester.co.uk/sport/football/pompey-latest/whittingham-we-ve-followed-the-fans-example-1-4570419

 

Guy Whittingham reveal-ed his Pompey players have taken a leaf out of the fans’ book and declared: Our spirit is back.The caretaker Blues boss saw his side twice fall behind at League One leaders Tranmere Rovers but then hit back to scrap for a 2-2 draw.

 

While questions have been asked of the team’s character in recent times, there was no doubting the fighting spirit at Prenton Park.

 

And they were backed to the hilt by another large vocal following who made the long trek north.

 

Whittingham said: ‘Let’s face it, we needed a bit of the spirit the fans have shown.

 

‘They came up in their numbers and they were excellent again.

 

‘When you look at the hard times we have had – to be averaging about 12,000 for every game and to get a good away following again, the lads are seeing that.

 

‘They realise the spirit the fans are showing will do the players well on the pitch.

 

‘They can show the same thing.

:facepalm:

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So, any idea how many total pledges of £1000 have come in so far? I can't see a nice big totalizer on the PST site, announcing to their world their successful campaign, which I was expecting to see given how they are the bestest...

 

The latest wheeze is that "following advice from their lawyers" they're not releasing any information on the amount of pledges confirmed until after their court date.

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The latest wheeze is that "following advice from their lawyers" they're not releasing any information on the amount of pledges confirmed until after their court date.

 

Probably on the basis that the judge would take a dim view of claiming one wildly optimistic thing publicly but having to 'fess up to the real number in court.

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I see. I that case, like the Trust, I am also confident that they are not far away now from the outcome that the majority of people think is best:

 

That they will be liquidated, and will have to start a phoenix club at an appropriate level.

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That they will be liquidated, and will have to start a phoenix club at an appropriate level.

 

Moneyfields, if only they took our advice about £10 million ago the trust could be laying solid foundations for the forthcoming 2013 Wessex league campaign.

 

All those wages, all those parachutes, all Trevs fees, all those compromise agreements... all for the right to sub-let fratton off Chinny (via the PDT), use of the logo and the golden share (minus ten points).

 

Smart.

 

Not heard from the peoples champion, the trust ambassador and tax man wench lately? Has she converted her pledge to the PDT? I hope she wasnt only in it for the PR

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Moneyfields, if only they took our advice about £10 million ago the trust could be laying solid foundations for the forthcoming 2013 Wessex league campaign.

 

All those wages, all those parachutes, all Trevs fees, all those compromise agreements... all for the right to sub-let fratton off Chinny (via the PDT), use of the logo and the golden share (minus ten points).

 

Smart.

 

Not heard from the peoples champion, the trust ambassador and tax man wench lately? Has she converted her pledge to the PDT? I hope she wasnt only in it for the PR

 

 

Magician's assistant before successful career as communications consultant and PR guru

 

Read more: http://www.dailymail.co.uk/femail/article-1264330/Have-Camerons-Cuties-really-got-takes-transform-politics.html#ixzz2EemCaOmc

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http://www.football-league.co.uk/footballleaguenews/20121210/league-board-considers-pst-proposal_2293334_3002405

 

The Football League Board has received details of a proposal by Pompey Supporters' Trust (PST) and its partner investors, to acquire the assets and certain liabilities of Portsmouth Football Club.

 

Having considered the proposal in detail, the Board concluded that it had significant merit. However, two outstanding points will have to be resolved before the Board can fully consider PST's application to become the new owners of Portsmouth Football Club.

 

They are the outcome of the current High Court proceedings relating to the ownership of Fratton Park and PST raising the remaining funding from supporters that is anticipated in its business plan.

 

The Board also confirmed that on-going membership of The League would be subject to a number of conditions that seek to ensure the sporting integrity of league football and the financial viability of the Club going forward.

 

It therefore re-affirmed its earlier decision that these conditions would include a deduction of 10 points (applicable at the point of transfer of share) and a range of other restrictions on playing budgets and future borrowing for the next four seasons.

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I've always admired the Football League :)

 

So, with regards the FL condition: "PST raising the remaining funding from supporters that is anticipated in its business plan." can someone remind me what the % pledge conversion rate is in the PDT business plan? Wasn't it something silly like 75%....?

 

If I'm reading that correctly, the FL are saying that they have to raise the money they said they would from the SUPPORTERS, which to me strongly implies that they can't simply ask their "partner investors" to make up any shortfall...

 

One assumes Twitter will now be awash with Pompey fans having a pop at the Football League because they stood strong on the -10 penalty...

Edited by trousers
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One assumes Twitter will now be awash with Pompey fans having a pop at the Football League because they stood strong on the -10 penalty...

 

And right on cue......

 

Lord Palmerston ‏@Lord_Palmerston

Nothing surprising in the FL #Pompey statement and nothing to change my view that they are incompetent.

 

Jake Woods ‏@jakewoods_

Don't see why the FL are punishing us for coming out of admin?

 

Lawrence Hall ‏@LawrencePFCHall

So we're definitely losing the 10 points? #Pompey

Edited by trousers
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Ahhhh nice to have it confirmed about the minus 10

 

There was never any doubt in my mind - the FL made it quite clear in their original statement. It's only the likes of Allen and co that have perpetuate the myth that the FL might somehow change their mind just because it's a fan (sic) takeover.

 

Talking of Portsmouth News journalists...

 

46ca209ff5822d461a486bc772f1a927_normal.jpegEmma Judd ‏@pn_Emma_Judd

Brilliant work from the Football League, continuing its heinously unfair decision to dock 10 more points from #pompey.

 

Ok Emma.....perhaps you could explain how diddling creditors out of c.£150m for not honouring a CVA is "fair"....?

Edited by trousers
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Emma Judd ‏@pn_Emma_Judd

And I say the deduction is unfair because every single decision maker that got the club into this has left. So who's being punished?#pompey

 

Brendon Bone ‏@brendonvbone

@pn_Emma_Judd they'd prefer that we would die quietly to cover up their inabilities Emma

 

Jon Keen ‏@urzz1871

@pn_Emma_Judd I agree - the whole idea of punishing clubs for previous misdeeds is ludicrous. Was designed as a deterrent - clearly isn't!

 

:facepalm:

 

Calling MLG to explain to our intellectually challenged friends down the road why they aren't being punished twice for the same misdemeanor....

Edited by trousers
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Like Trousers, I was in the never in any doubt camp.

 

PDT will now be looking for enough fingers to recheck their financial projections will still work in L2.

 

The phew will be waking up to the fact that they are paying their grand to keep their club running in L2

 

And the FL don't seem to think that the Court case is a rubber stamp if they are waiting to see what is said.

 

Meanwhile back in negative points land, how goes the Forensic Audit and the shenanigans of using Client Accounts and Shadow Directors?

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Bets on the next Neil Allen piece going something like:

 

It was a day that hope stood up to injustice.

 

A boy wept in his fathers arms, unable to comprehend why his beloved team were being punished twice for a crime not of their own making.

 

They say that truth comes from the mouth of babes, and when it cuts so clear as this, it's hard to argue.

 

But Portsmouth fans stood strong, and stood together, and realised that this step back would allow them a running start to the finish line of the high court.

 

Freinds and loved ones were as one to ensure that any tears shed would form a river of hope.

 

[include 100x fawning one line paragraphs, then finish with]

 

Because Pompey fans know the way the way to win, is to stand against the world as it rallies upon them, and let the chimes of victory ring out.

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Neil Allen ‏@pn_neil_allen

So that's 29 points deducted since March 2010, spread in three instalments. #Pompey

PJS22 ‏@PJSomerset

Another 10pts deducted for #pompey. At least the football league are consistent in their terrible decisions.

 

Adam Mills ‏@AdamMillsUK

Spoke with a #pompey fan earlier. He said that if club were to go into administration again, he'd prefer to see them folded.

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I've always admired the Football League :)

 

So, with regards the FL condition: "PST raising the remaining funding from supporters that is anticipated in its business plan." can someone remind me what the % pledge conversion rate is in the PDT business plan? Wasn't it something like silly like 75%....?

 

If I'm reading that correctly, the FL are saying that they have to raise the money they said they would from the SUPPORTERS, which to me strongly implies that they can't simply ask their "partner investors" to make up any shortfall...

 

One assumes Twitter will now be awash with Pompey fans having a pop at the Football League because they stood strong on the -10 penalty...

 

 

I read it that way too. I'm guessing that raising the funds any other way would be considered a supporters trust but just a normal business proposition - if the words normal and business could ever be used to describe the way things are run down there.

 

The hands of the countdown clock are nearly vertical now.

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I'd like to hear the Football Leagues justification for it only being -10 points for diluting a failed CVA with a new CVA.

 

Bournemouth and Rotherham got -17 points for failing to agree a CVA, Pompey agree a CVA, drag it out for 2 years and it fails haven't not made a payment on it, they then dilute it. Yet they only get -10 points for that, if anything that is worse than what Bournemouth and Rotherham did.

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‏@
MatthewLeGod

@
pn_Emma_Judd
How is agreeing a CVA, it failing, diluting that CVA fair? Lucky it is only -10 points, Rotherham/Cherries got -17 points!

 

‏@
pn_Emma_Judd

@
MatthewLeGod
I didn't say going into admin twice was fair - certainly not for creditors. But this makes -20 points for this second admin.

 

‏@
MatthewLeGod

@
pn_Emma_Judd
3 separate offences, 2x admins, 1x diluting a failed CVA. 3 offences = 3 punishments. Others had -17 for failing to get CVA

 

‏@
pn_Emma_Judd

@
MatthewLeGod
then why were they punished more than pompey?

FM Saints Researcher
‏@
MatthewLeGod

@pn_Emma_Judd Because the Football League have treated Pompey leniently compared to other clubs. Yet Pompey fans & your paper can't see that

 

Emma Judd ‏@pn_Emma_Judd

@MatthewLeGod Best complain to the FL that it's giving one set of sanctions to one team and another to the rest.

 

FM Saints Researcher ‏@MatthewLeGod

@pn_Emma_Judd People have asked them, they refuse to explain it. Maybe journalists should ask them why? Unlikely they will though.

 

 

:)

Nice one MLG - it's hard work this education malarkey!

Edited by trousers
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Emma Judd ‏@pn_Emma_Judd

And I say the deduction is unfair because every single decision maker that got the club into this has left. So who's being punished?#pompey

 

Brendon Bone ‏@brendonvbone

@pn_Emma_Judd they'd prefer that we would die quietly to cover up their inabilities Emma

 

Jon Keen ‏@urzz1871

@pn_Emma_Judd I agree - the whole idea of punishing clubs for previous misdeeds is ludicrous. Was designed as a deterrent - clearly isn't!

 

:facepalm:

 

Calling MLG to explain to our intellectually challenged friends down the road why they aren't being punished twice for the same misdemeanor....

 

‏@
MatthewLeGod

@
pn_Emma_Judd
How is agreeing a CVA, it failing, diluting that CVA fair? Lucky it is only -10 points, Rotherham/Cherries got -17 points!

 

‏@
pn_Emma_Judd

@
MatthewLeGod
I didn't say going into admin twice was fair - certainly not for creditors. But this makes -20 points for this second admin.

 

‏@
MatthewLeGod

@
pn_Emma_Judd
3 separate offences, 2x admins, 1x diluting a failed CVA. 3 offences = 3 punishments. Others had -17 for failing to get CVA

 

‏@
pn_Emma_Judd

@
MatthewLeGod
then why were they punished more than pompey?

FM Saints Researcher
‏@
MatthewLeGod

@pn_Emma_Judd Because the Football League have treated Pompey leniently compared to other clubs. Yet Pompey fans & your paper can't see that

 

Emma Judd ‏@pn_Emma_Judd

@MatthewLeGod Best complain to the FL that it's giving one set of sanctions to one team and another to the rest.

 

FM Saints Researcher ‏@MatthewLeGod

@pn_Emma_Judd People have asked them, they refuse to explain it. Maybe journalists should ask them why? Unlikely they will though.

 

 

:)

Nice one MLG - it's hard work this education malarkey!

 

I've given it a go, she still doesn't "get it" though.

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More early reaction from down the road..

 

surely this is ripping us fans off who have paid our season ticket money and basically removing our ability to compete!!

They have just got it in for us.

Aw, thanks FL. Your too kind. Your going to have to be very careful. More and more teams are on the verge on disaster. You won't have many members left soon. Maybe these teams should start their own league! Then they could support it's members instead of kicking them in the teeth!

 

As another cold snap heads eastwards, the few show they are still capable of providing heartwarming comments.

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I was previously hoping that the judge in the forthcoming court case would value FP at a few £million more than the PST wanted. Now? I'm hoping it comes in somewhere around £2.75-3m so that the PST/PDT bid bumbles along and some more Blue Few mugs donate £1000 each to the Developers to watch their youth team struggle in L2 next season.

 

In a season or two (if they continue to even exist by the) they could well be playing non-league football, still carrying the CVA debt and wishing they'd taken out advice years ago to fold and start a Phoenix club.

 

Either they go bust soon, or we have even longer to enjoy their further demise. This is brilliant :-)

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Thought: could this actually work in their favour at court? It certainly adds to the sympathy vote....might convince the judge to take pity on them....?

 

Edit: actually, with my conspiracy hat on....why would the football league choose to announce this just before the court case? Why not wait until after the verdict? Almost seems like "someone" has asked them to make a statement ahead of the court case.....hmmm....

Edited by trousers
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I've always admired the Football League :)

 

So, with regards the FL condition: "PST raising the remaining funding from supporters that is anticipated in its business plan." can someone remind me what the % pledge conversion rate is in the PDT business plan? Wasn't it something like silly like 75%....

 

Yes indeed..... It is listed at 75% (Just after the it their document that talks about revenue from cup games and taht average attendances fo 11,500)

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Very lucky to even get 35/40 % OF THEIR PLEDGES............:)

 

Miracle to happen if they were to get anywhere near 50%..:D

 

Being the transparent organisation they are:rolleyes: they will bullshiiiiite the Judge, their own fans and say how marvelous everything is....:p

 

But surely sooner or later they will have to show the colour of some money...:o

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