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Pompey Takeover Saga


Fitzhugh Fella

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Don't forget the their protest march before the home friendly with Bolton.

I suspect all police leave will be cancelled.

 

http://vimeo.com/46929395

It has, indeed.

 

cuban-missile-protestor-1962-copyright-don-mccullin.jpg

 

PST Spokesperson@pompeytrust

To those asking about the state of the pledges - we can't issue figures for legal reasons, however we're doing well. Feet firmly on gas.

 

21247.jpg

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From POL

This is a statement to from the Football League to condemn Pompey to oblivion. It's a disgrace and the Trust's statement is utterly pathetic.

We should not accept the terms of FL membership.

Translated: 'if we must let them breathe, let's ensure we keep them on the equivalent of a life support machine.'

 

I spoke to members of the Trust at the Saturday Fratton event the Saturday before last. I raised the points deduction and was told- not unfairly- that we needed to keep them [FL] sweet and on-board. Well now the decision has been made. And it goes against us. Now the FL will meet to formulate the severest straightjacket in which to place Pompey. We accept that do we? The Trust should have condemned outright the FL statement. Both statements are an affront to our fans. I am very angry about it.

 

We are in mess because the football authorities- both PL and FL- failed to protect our club. Their negligence, inertia and incompetence has seen us land 29 points worth of deductions. Have the Trust reminded the FL of its failings? Seemingly not. An all-round betrayal.

 

:facepalm:

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both PL and FL- failed to protect our club.

 

Right, they should protect them then?

 

That is what the financial controls are for, to ensure they can stop them spending themselves to death...... oh, but that is an obstruction of fair competition..... because naturally they are meant to be allowed to do whatever the hell they want, yes?

 

No wonder they are so confused down there.

Edited by Colinjb
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I was truly staggered by the PST nonsense quoted in this BBC article:

 

http://www.bbc.co.uk/sport/0/football/20669252

 

Apparently a 10 point deduction is... 'great news for Portsmouth football club.' And the restrictions on playing budgets and borrowing for four years are... 'a positive step'.

 

The mind boggles...

 

Even my old favorite David Lampitt would have struggled to spin that, and he is the best in the game... the greasy greaseball even managed to slip CSI in through the back door!

 

This is a step beyond his imagination though, which is quite a stunning effort by the property trust...

 

Shame it wasn't the full -17 (and counting) at this stage, I guess we will have to highlight the decade of financial irregularities next... good job Mr Hall Right Now has compiled them all for me as it would take ages to wade through our mega thread...

 

More campaigning to the FL it is. Justice will be served for the greater good, im determined to make this happen... Our letters have served the good of the game so far, so I will continue to fight for sporting integrity. In a strange way (and confusing to them) we are protecting the skates from their own stupidity.

 

One question would be pertinent to both the FL and the dewy eyed judge... how much money has been wasted since the PKF appointment, and how much of that could have been invested in the Moneyfields phoenix?

 

Im guessing close to double figure millions now... how f*cking dumb are this PDT?

 

SHA

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I really hope Dubai Phil is incorrect re people with lots of money are interested in "them"

It's giving me nightmares that some people with real money will take them over and then

spend loads so that "they" manage to just survive in L1 this year. Then next year "they"

get promotion. :(:(

 

:suspicious:

 

Who me?

 

I know NUFFINK Guv.

 

It's just a case of remembering everything that ever gets posted on here, and putting 2 and 2 together.

 

The fundamental difference between nutjobs and skates is that we passed Kindergarten maths lesson 1 and hence why so much of what we have read and analysed has then "Come to Pass"

 

As evidence I give you the FL. They said -10 is a condition. Oldnick (who did philosophy instead of maths that first week) panicked, the phew said we are special people it dunt aplli to us innit. We said wait for it...

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one of the historic issues is being highlighted again this week by those wishing to dodge the penalty.

 

They want to criminalise former owners and let them take the rap for all wrongdoing, but they'd like to keep the cup.

 

You cannot distance 'the club' from the crimes, nor the fans - unless of course they were a lone voice of protest outside Wembley?

 

I 4-1 would like them to admit that their only honest game in recent years was Plymouth away.

They can keep that result.

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There are no legal reasons at all for not releasing the pledge conversion figures.

 

Absolutely none.

 

There may be good reasons (e.g. the numbers are awful and his would be terrible PR).

 

But there isn't a legal reason.

 

Not one.

 

Correct - what they really mean is that they have taken legal advice not to release the figures, in case it has a bearing on the case. Logically therefore, that means they think the figures would have a potentially negative consequence on their plucky battle with chinny the saviour/monster.

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They are a little upset, that Chanrai is quoted on South Today (Did anyone see it?) as he will appeal if he doesn't get what he wants.

 

Part of the problem is that they all thought there was no right of appeal, so it simply drags things out a little longer and racks up the admin and legal fees.

 

http://fansonline.net/portsmouth/mb/view.php?id=469412

 

If he did actually say that, it doesn't sound like a man that is ready to throw in the towel on Wednesday night and roll over to have his belly scratched.

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i do hope that certain people are not helping Pompey out of a hole. Let them die , there is no real future and definitely no long term gain by it.

I think you can rest easy there Nick, the world has run short of billionaires desperately trying to become millionaires.

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If I'm honest, Mark Littlewood is often a bit too blatant with his WUMming, almost like using a sledgehammer to crack a walnut. I prefer the more subtle rallyboy approach rather than the brash and brazen technique he employs.

 

He also seems like a bit of an obnoxious d*ck.

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http://www.portsmouth.co.uk/sport/pompey/whittingham-refuses-to-buckle-after-points-blow-1-4572788

"The Football League yesterday reiterated their intention to further punish the club.

That will be regardless of whether the Pompey Supporters’ Trust succeed in taking the Blues out of administration.

Although a points deduction was previously announced, it had been hoped the figure would be reassessed following Portpin’s failure to return to the club.

However, league chiefs have now clarified the situation."

:facepalm:

 

How many more times FFS?

 

No, Mr Allen, there was never any hope that the FL would change their stance depending on who became preferred bidder....and....no, they haven't clarified the situation as there was nothing to be clarified. As you state previously, they have simply re-iterated what they announced months ago.

 

Pompey....making stuff up since

 

Look...even the caretaker manager gets it....

 

"In the meantime, Whittingham is adamant it is business as usual as he attempts to keep Pompey in League One.He said: ‘We always took it that we would have 10 points deducted, so it is not a surprise.

‘The Football League have got to do what they do – and we will crack on with it.

‘We have always treated games as if the points had already come off us.

‘That is an approach we have taken from the start, we have had our eyes wide open through all this.

‘Nothing has changed. We just have to carry on trying to get the results on the pitch.’"

Edited by trousers
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The levels of delusion over on POL (which are usually sky high at the best of times) have rocketted into orbit following yesterday's shock revelations that the Football League intend to do what they said they'd do all along.

 

 

 

But it doesn't end there with the cumulative points loss of 29 points, does it?

 

For we learn there will be FURTHER penalties. For eg. on player budgets. So it's very conceivable the squad size now will not be allowed to increase, or it will be a choice of quality (miserable as it is at this level or League 2's) or quantity. A kind of scaled down Kitson & Lawrence but small squad-type scenario. The FL also make clear that in addition to seeing off Chainrai the Trust must raise the money. I expect them to play hardball on that one with Pompey only exiting administration just before the deadline. How much of it will they want raised and by when? They must know that every delay they can achieve, every barrier they can erect, increases the chances of Pompey thudding into the basement.

 

When the Football League says 'jump', I don't want the Trust to reply 'how high?' There needs to be an objective assessment based on the straightjacket on Pompey to determine whether the club can attain any real recovery in its playing fortunes. I'd venture to suggest now, from what we learn today, the answer must be no. There is no point in keeping the patient alive for the sake of it if the patient can't aspire to a quality of life. Fighting losing battles against the basement's dregs isn't it. There is no point in replacing this year's Walsall, Oldham, Brentford, etc. with Exeter, Cheltenham, etc.

 

Non-deluded translation: "It sounds like the consequences of the PDT taking over are that we'll no longer be able to incur massive debt (and not pay it back) and will only be allowed to spend similar amounts of money on wages and transfers to most other clubs in the division. This is thoroughly unacceptable to me."

 

 

 

The points deduction was expected, but what I don't like is the condition that the Trust has to raise all the money in its business plan before the FL will even consider our application properly. To me, that means we are very likely to stay in administration, with monthly contracts and a 20-player limit, through most if not all of January if we're not careful. Which would make staying up much harder.

 

Non-deluded translation: I think the PDT should be allowed to progress even if it is proven that its business plan does not add up and that the PDT cannot reach their anticipated startup funding figures. This desire of mine does not change the fact that I will look to blame the Football League if I get my way and the PDT fails further down the line.

 

 

 

If I was a conspiracy theorist, I would say that they [the Football League] fear the effect that a successful fan-owned club could have in their own backyards. But to work that out they would need more intelligence than they have hitherto displayed.

 

Non-deluded translation:I truly believe the notion that we will be the first and biggest fan-owned club in the country. Swansea do not exist and never have, and there are no other fan-owned clubs anywhere in existence.

 

 

 

What worries me about this announcement is the effect on the team. We showed earlier in the season that we could get out of this mess even with a 10 points deduction, with the right man n charge and a shrewd January transfer window, we still can. However with this announcement there is a potential thathe players feel deflated and believe relegation is inevitable and when you think like that, it becomes a reality!

 

Non-deluded translation: I can't read or understand league tables, let alone the concept of deducting 10 points from an existing total.

 

 

 

I'm fed up of short term fix's rather the long term solutions. Fratton Park is the only thing fans money should be paying for not going to w*****er like hughes, brown, TBH, lampitt and PKF.

 

Non-deluded translation: I would like for the PDT to receive our outstanding parachute payments in cash, but I would like to not pay the players (i.e. those who the parachute payments were designed for) and instead would like to use this cash to purchase our ground on the cheap. I feel this way of doing business is entirely fair, and I fail to see any irony in demanding parachute payments and refusing to use them in the manner for which they were intended.

 

 

 

We are in a no win situation as the league committee is made up from Football club owners, the championship clubs dont want us to gain promotion, league 1 clubs want us in their divison because of the increased gates, same for the L2 clubs they want us to go down because of the away following.

 

Non-deluded translation: Pompey are the biggest team in the world, and all other football clubs are either jealous of us or want to ride on our coat-tails of success.

 

 

 

Although, in their defence, there are one or two enlightened souls down there.

 

WE ENTERED ADMINISTRATION FOR A SECOND TIME, WE DID NOT PAY A PENNY TOWARDS TO THE CVA THAT MEANT WE AVOIDED A -15 POINT DEDUCTION IN 2010/11, WE MANAGED TO MAKE SOMETHING LIKE 80MIL OF UNSECURED DEBT BECOME 800K THROUGH THE ACTIONS OF THOSE WHO WERE IN CHARGE OF THE CLUB. WE HAVE DILUTED THE OLD CVA INTO THE NEW WITHOUT ASKING THOSE CREDITORS BECAUSE I DOUBT THEY WOULD ACCEPT, SO WE COULD HAVE HAD A -15 POINT DEDUCTION COMING.

 

DEAL WITH IT, WE HAVE KNOWN ABOUT THIS SINCE JULY, AND HAVE KNOWN ABOUT THE FINANCIAL IMPLICATIONS.

 

WE DESERVE THE POINTS TO COME OFF AND HAVE TO TAKE IT LIKE GROWN MEN AND SHOW THE WORLD WHAT CAN HAPPEN WHEN YOU GALVANISE THE FANS OF POMPEY.

 

PUT THE DUMMY BACK IN AND STOP WHINING LIKE A *****.

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We are in a no win situation as the league committee is made up from Football club owners, the championship clubs dont want us to gain promotion, league 1 clubs want us in their divison because of the increased gates, same for the L2 clubs they want us to go down because of the away following.

 

roflmao.gif

 

Pompey.jpg

 

sundg.jpg

 

2abu8ubu.jpg

Edited by trousers
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http://www.newsnow.co.uk/A/614984534?-11209:804

 

Portpin will be represented by law firm Walker Morris at the hearing,

 

Just digging around on http://www.walkermorris.co.uk/our-people

 

and found this familiar face,

 

 

WalkerMorrisPartner.jpg

 

Is this a local, ahem, journalist, or the guy looping the loop on the bus after our home game?

 

Probably just a coincidence in appearance?

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I still think there is mileage in the BC charge on Fatpipes Park.

There must be a financial tipping point where, if BC doesn't get what he wants for the ground, then he becomes a secured creditor with a large percentage of the vote on the proposed exit from the CVA.

Then maybe this makes the acceptance of coming out of administration a more financially demanding issue for the PST?

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http://www.newsnow.co.uk/A/614984534?-11209:804

 

Portpin will be represented by law firm Walker Morris at the hearing,

 

The same company that advised AA & Chainrai when he purchased the club in 2010....

 

http://www.legalweek.com/legal-week/news/1811440/walker-morris-taylor-wessing-roles-portsmouth-fc-sale

 

Yorkshire firm Walker Morris, which fielded a team led by corporate partner and football finance head David Hinchliffe, advised the joint administrators at UHY Hacker Young, overseeing the club's exit from administration in accordance with the Football League regulations.

 

Walker Morris has acted for the joint administrators since Portsmouth entered administration in February, at which point the club received a nine-point penalty from the Premier League which led to its eventual relegation to the Championship.

 

Hinchliffe said: "This has been the culmination of months of hard work and effort. Through our extensive experience in this sector, [we are] uniquely placed to advise on football club restructuring."

 

The firm's team also included associates Duncan Lole, James Moore and Victoria Kay.

 

The news comes two months after Walker Morris achieved a court victory for Portsmouth by successfully defeating HM Revenue & Customs in the High Court after the body had issued a winding-up order over tax issues.

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Walker Morris are a bunch of useless ****s. When I bought my first flat back in 2006, I was rather naive and went with the estate agent's suggestion of using them as my solicitor. Big mistake. The flat was a vacant possession and I had no onward chain, and yet it took them SIX ****ING MONTHS to put all the paperwork together :facepalm:

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Walker Morris are a bunch of useless ****s. When I bought my first flat back in 2006, I was rather naive and went with the estate agent's suggestion of using them as my solicitor. Big mistake. The flat was a vacant possession and I had no onward chain, and yet it took them SIX ****ING MONTHS to put all the paperwork together :facepalm:

 

Hopefully they get out their big guns to work for Chainrai, rather than the minions they used to assist you Steve.

 

Actually, if they have a history of dragging things out for "SIX ****ING MONTHS" = long drawn out appeal process from Chainrai... ;)

Edited by Matthew Le God
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Walker Morris are a bunch of useless ****s. When I bought my first flat back in 2006, I was rather naive and went with the estate agent's suggestion of using them as my solicitor. Big mistake. The flat was a vacant possession and I had no onward chain, and yet it took them SIX ****ING MONTHS to put all the paperwork together :facepalm:

 

I wouldn't rate solicitors' performance on the basis of home sales; they're ridiculously slow (and low value, so very low priority). I used a local solicitor my family have used for years for my house purchase a few years back; I'd sold my flat 6 months previously so it was effectively a cash buy and the couple I was buying from had no onward chain, yet it still took just under 6 months from offer acceptance to completion.

 

I imagine Portpin pay rather more than you or I did in solicitors fees and are therefore higher up in terms of importance, and therefore proactivity!

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Quite remarkably, this is Corp Ho's take on the situation.

 

We were told ages ago we'd get a 10 point deduction, it's not breaking news.

We will have to keep within the budget constraints of the financial fair play rules, same as every other club. This isn't earth shattering news either

The FL have seen a business plan from the Trust that includes the money pledged by fans. they no doubt want to make sure that money comes in or else the Trust's business plan doesn't stack up. Posters on here have been screaming about them not doing enough checks on new owners and now they seemingly are people are getting upset about it.

 

We're not being victimised, we're not being hard done by. We've been a car crash for years and the FL don't want it to happen again. We'll probably be relegated this year but who cares. We'll have a club that we can unite behind and hopefully, in two or three seasons be in a position where we've stabilised and be ready to start pushing for promotion to higher leagues. Unless anyone's a PL JCL I can't see that this scenario would bother anyone. We'll have a club to go and support and players to cheer or moan at. That's all I ask.

 

Maybe in his absence from here he's found a modicum of common sense and reality.

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They seem to think that projecting higher attendances than they will get in League Two won't matter to their financial plan as corporate sales at Fratton is all important in those 23 huge games in League One or League Two! I can see corporates wine in one hand, prawn sandwich in another flooding to Fratton Park for games against Morecambe, Torquay, Dagenham & Redbridge, Fleetwood etc etc

 

From a PST board member...

 

1h FM Saints Researcher ‏@MatthewLeGod

@Walkthe9T2 As a board member u are in a position to know the legal reason why they cant reveal the numbers. Why not tell world that reason?

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1h Walkthe92 ‏@Walkthe9T2

@MatthewLeGod Ha ha, oh dear you really are straw clutching now. Cup crowds always impossible to predict for revenue. What's next?

Expand

59m FM Saints Researcher ‏@MatthewLeGod

@Walkthe9T2 The last Pompey league game saw 9,955. If in League Two things won't be much better and if anything worse. Trust forecast higher

Expand

34m Walkthe92 ‏@Walkthe9T2

@MatthewLeGod Luckily the business plan is not just based on just gate revenue. Making it a sound business won't be hard at all.

Expand

29m FM Saints Researcher ‏@MatthewLeGod

@Walkthe9T2 It may come as a shock to the trust then that gate £ in L2 are a very high % of income. Mess up projections = mess up finances

Expand

12m Walkthe92 ‏@Walkthe9T2

@MatthewLeGod This isn't FM13, most clubs aren't the size of PFC, I know I've visited lots of them. Much revenue is corporate hospitality.

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6:48 AM - 11 Dec 12 · Details

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8m FM Saints Researcher ‏@MatthewLeGod

@Walkthe9T2 Bradford and Plymouth had similar crowds & stadiums to Pompey in Championship/Premier and ended up in bottom half L2.

Expand

7m FM Saints Researcher ‏@MatthewLeGod

@Walkthe9T2 So you think the corporates will flood to Fratton Park for League One or League Two football do you? Really?

 

..................

 

When the trust have people as deluded as this on the PST board thinking alot of a their revenue will be through corporate sales in League One or more likely League Two, you have to wonder just how quickly their 4th administration will come after any possible fans trust takeover...?

 

2013, 2014 or 2015 - place your bets!

Edited by Matthew Le God
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Quite remarkably, this is Corp Ho's take on the situation.

 

 

 

Maybe in his absence from here he's found a modicum of common sense and reality.

 

Perhaps his contact in the club that he regularly sees socially has finally unveiled the real truth to him. ;)

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