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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella
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Waterside.saint

Waterside.saint

Posted
Posted
Neil Allen‏@pn_neil_allen

So Keith Harris fronting bid to buy #Pompey. Hearing involves leasing Fratton Park off Portpin with view to buy. So much for clean break.

Looks a recipe for Disaster to me, but what would we know??

 

Dear moderators, can we have an emoticon showing a bloke eating popcorn as they sit down in anticipation of being royally entertained, please?

Maybe like this: popcorn.gif

Glasgow_Saint

Glasgow_Saint

Posted
Posted
Neil Allen‏@pn_neil_allen

 

So Keith Harris fronting bid to buy #Pompey. Hearing involves leasing Fratton Park off Portpin with view to buy. So much for clean break.

 

 

 

Looks a recipe for Disaster to me, but what would we know??

 

Portpin will finance the deal so that they get the club back vis the back-door? Charge large and bingo they get there money back.

trousers

trousers

Posted
Posted

@solentsport: A source close to deal has confirmed to us that football financier Keith Harris is involved in a bid to buy #pompey- more at 0720 in morning

suewhistle

suewhistle

Posted
Posted

I've had a good day, skiing with a friend on fresh snow and a good gossip into the bargain, earnt a bit of money this evening doing an evening class, home for a glass of red and some Gorgonzola and to cap it all off just settled down to the thread for some genuine laughs.

 

I'm beginning to understand why my aged mum follows a soap on TV, but the plot and writing is nowhere as good as this one! They'd certainly never get away with it as fiction, besides, how would they classify it? Drama, historical, crime, fantasy or science fiction... or perhaps it's black comedy or, my final choice, a farce.

Winchester Red

Winchester Red

Posted
Posted

Does anyone know beyond doubt how many parachute payments are left?

 

I thought this months was the last and if that's the case, why is Chinney interested in any kind of continuation.

 

No L1 or L2 clubs make money so trading in the lower leagues isn't going to get him his money back

 

:?

Waterside.saint

Waterside.saint

Posted
Posted
Portpin will finance the deal so that they get the club back vis the back-door? Charge large and bingo they get there money back.

 

They never seem to learn, this could run and run :lol: Early signs are that this may not, perhaps, provide the rich seams of comedy gold they mined with Joseph Cala's undersea resorts nor the belly laughs we shared here about their fake sheik, but perhaps they are, none the less, about to explore strange new ways of being hilarious, to seek out new depths of embarrassment and new opportunities for provoking mirth, to go boldly where no fishy friends have gone before.

andysstuff

andysstuff

Posted
Posted
Neil Allen ‏@pn_neil_allen

Wait a minute. Is this the same Keith Harris who found CSI for Portpin to sell #Pompey to? Oh yes it is.

 

you beat me to it! I'm swear he's got more red followers than blue!

Saint-Reece

Saint-Reece

Posted
Posted
you beat me to it! I'm swear he's got more red followers than blue!

 

Most probably due to the amount of laughs he delivers on a very regular basis, he's so special.. bless him.

Waterside.saint

Waterside.saint

Posted
Posted
Neil Allen‏@pn_neil_allen

 

Wait a minute. Is this the same Keith Harris who found CSI for Portpin to sell #Pompey to? Oh yes it is.

 

More Lol's to come I'm sure

 

And the silence is palpable as the penny begins to drop...

Kingsland Red

Kingsland Red

Posted
Posted

Reassuring for the Phew to have the south's premier investigative journalist outing the protagonists, which on the Nutjob thread are minor celebrities anyway.

 

Who needs a broken record or groundhog day when there is this thread.

Waterside.saint

Waterside.saint

Posted
Posted
Reassuring for the Phew to have the south's premier investigative journalist outing the protagonists, which on the Nutjob thread are minor celebrities anyway.

Who needs a broken record or groundhog day when there is this thread.

 

Pompey, the gift that keeps on giving.

Thank God for the gift of laughter

gaz

gaz

Posted
Posted
Dear moderators, can we have an emoticon showing a bloke eating popcorn as they sit down in anticipation of being royally entertained, please?

Maybe like this: popcorn.gif

 

I prefer this.

 

257x192px-LL-238c351a_Eating-Popcorn-3-michael-jackson-21626092-257-192.gif

Waterside.saint

Waterside.saint

Posted
Posted (edited)

PFCinBromley

 

9:03 PM on 06/02/2013

 

Have a friend who works for Seymour Pierce - very reputable firm who are having difficulties due to market conditions. Keith Harris is not the sole owner - it's owned by the staff. He is a very credible figure in the City so shouldn't be written off as a chancer unlike some of the other potential owners. This is not propaganda on behalf of their bid - I work in the City and wanted to give an alternative POV to some of the others on the site

 

And Hitler was nice to his mum.

Edited by Waterside.saint
andysstuff

andysstuff

Posted
Posted

Well, England beat Brazil, I've exchanged ccontaracts on a new property, and a Keith Harris bid on behalf of Chanari. Short of them gertting liquidated, I'm not sure today could have been any better.

Fowllyd

Fowllyd

Posted
Posted

Unless my memory's playing tricks, Seymour Pierce and Keith Harris have had a fair amount of involvement with Saints over the years. They were certainly retained to find a buyer during the Lowe/Wilde era (and, I think, for some time before that). They also turned up with a bid for the club just as Markus' purchase was about to complete, even threatening legal action to allow their bid to be considered. I don't remember whether Harris was personally involved in this phantom consortium, or just acting as its mouthpiece, but I do recall mutterings at the time that said consortium included one Rupert Lowe. Maybe somebody will remember better than I do.

 

Either way, I love the fact that the head of a firm which was signally unsuccessful in finding a buyer for a going concern is now stepping up to buy a dead loss...

mcjwills

mcjwills

Posted
Posted
I prefer this.

 

257x192px-LL-238c351a_Eating-Popcorn-3-michael-jackson-21626092-257-192.gif

 

He looks like a black Michael Jackson....

 

Nah Michael Jackson was always white, it was just a rumour put round by then fackkkin scummmmahhs he was black.

Gemmel

Gemmel

Posted
Posted
Unless my memory's playing tricks, Seymour Pierce and Keith Harris have had a fair amount of involvement with Saints over the years. They were certainly retained to find a buyer during the Lowe/Wilde era (and, I think, for some time before that). They also turned up with a bid for the club just as Markus' purchase was about to complete, even threatening legal action to allow their bid to be considered. I don't remember whether Harris was personally involved in this phantom consortium, or just acting as its mouthpiece, but I do recall mutterings at the time that said consortium included one Rupert Lowe. Maybe somebody will remember better than I do.

 

Either way, I love the fact that the head of a firm which was signally unsuccessful in finding a buyer for a going concern is now stepping up to buy a dead loss...

 

They were indeed retained by Saints and from memory only bought SISU to the taable. The bid at end claiming to offer more than Markus and threatening legal action was something to do with (I think) marc jackson

Kingsland Red

Kingsland Red

Posted
Posted

Nabil Hassan ‏@NabilHassan79

Statement from PST re: Keith Harris #Pompey takeover story. "Our bid is complete & ready to go. What we need is a complete break from past."

 

Ahhhhhhhhhhh its complete now and ready to go..... So why hasn't it gone???????????????????????

 

 

Maybe like a good Kenyan or Ethiopian long distance runner, the PST is adopting what David Coleman ( or was it Stuart Storey) used to call the 'fast / slow tactic' .

Once they get to the front, slow down the pace until the opposition has caught them, and then sprint away again.

But then again fast and sprint are not words usually associated with this takeover.

Frank's cousin

Frank's cousin

Posted
Posted
They were indeed retained by Saints and from memory only bought SISU to the taable. The bid at end claiming to offer more than Markus and threatening legal action was something to do with (I think) marc jackson

 

NO please dont go there... teh Orvile thing already has me in stitches - the reminder of a man who showed hi mobile phone to people with 'David Beckham' in his contacts is too much...

Weston Super Saint

Weston Super Saint

Posted
Posted

I'm confused :(

 

Is it still 'trust or bust' or are the trust now the villains standing in the way of Saviour Keith?

 

If the trust are still plucky heroes, when do they become nasty villains?

 

Also, what happens when the trust bid goes bust and Keith takes over. The mugs who paid over their £1000 will surely want this back, but the HNWs will want to take back what they've donated[sic] from the money the trust have collected. Who will be the hero when this happens and who will be the villain?

 

We need knobhead neil to clarify who is the bestest this week and who is the worstest :D

Waterside.saint

Waterside.saint

Posted
Posted
I'm confused :(

 

Is it still 'trust or bust' or are the trust now the villains standing in the way of Saviour Keith?

 

If the trust are still plucky heroes, when do they become nasty villains?

 

Also, what happens when the trust bid goes bust and Keith takes over. The mugs who paid over their £1000 will surely want this back, but the HNWs will want to take back what they've donated[sic] from the money the trust have collected. Who will be the hero when this happens and who will be the villain?

 

We need knobhead neil to clarify who is the bestest this week and who is the worstest :D

 

“Doublethink means the power of holding two contradictory beliefs in one's mind simultaneously, and accepting both of them.”

― George Orwell, 1984

hypochondriac

hypochondriac

Posted
Posted

A good post on POL:

 

Okay - remember back in December when the original 2-day hearing to determine the value of Fratton Park was adjourned? Remember Portpin mentioning the floating element of the charge over PFC 2010 Ltd had been forgotten by PKF? This is important. You also have to take into account the litigious nature of those that make up Portpin. They spend lot of time in court having arguments, its a second home for them.

 

So PKF and the Trust have a deal agreed to purchase Portsmouth Football Club & Fratton Park. There's a fixed price that the PST will pay. So they go to the court to have the charge lifted from Fratton Park enabling the Trust to own the club and ground without any attachment from Portpin. Unfortunately, while the court case would enable the Trust to be free of Portpin, the floating charge still applies to PFC 2010 Ltd that PKF are responsible for.

 

Now the fixed price the PST will pay will cover the CVA, PKF's fees and Portpin's compensation for the ground sale. What it won't necessarily do is cover the value of the floating charge as well (this is dependant on there not being a significant difference between what the PST have agreed to pay for Fratton Park and what the Judge decides the valuation should be in fairness to Portpin) so you have potentially around £1.5m that needs to be found out of the fixed price that been agreed. The only obvious point in order to maintain a CVA is PKF fees (capped at £2.5m).

 

PKF have spent a lot of money on specialist legal advice and other items from equally expensive London firms so a long drawn out legal battle with Portpin over the floating charge element could leave them significantly out of pocket. Portpin, being the litigious creatures that they are, have been placing all sorts of pressure on PKF making their underwriters run away and hide in darken rooms.

 

If PKF bite the bullet and sell to the Trust, they still have to deal with Portpin afterwards and accept the risks involved in that. If the business goes into liquidation, there is significant reputation damage caused and potential legal action from the HNWI of the Trust. Nobody else but a Portpin Trojan horse would touch PFC because of the problems involved (i.e. Portpin).

 

PKF wish they never got involved...

KK the 2nd

KK the 2nd

Posted
Posted
NO please dont go there... teh Orvile thing already has me in stitches - the reminder of a man who showed hi mobile phone to people with 'David Beckham' in his contacts is too much...

If Harris has his arm up a duck's arse all the time, would he pass the fist and proper test?

hypochondriac

hypochondriac

Posted
Posted

Also...

 

Okay - another piece of information I should tell you is that Portpin have agreed to wave all action against PKF if the Harris bid is successful. Does that answer your question?

 

Chinny has played a blinder!

TopGun

TopGun

Posted
Posted
So let me get this right.

 

The HNWs have put in six-figure sums to keep the corpse alive since October and now some other shark with a history of aggressive leveraged buyouts is coming in to gazump them?

 

Nice!

 

Lol!

TopGun

TopGun

Posted
Posted
So just in the nick of time up pops someone prepared to pay Chinnery's rent demands. What's that you say, £700,000pa? On a 4% yield that values FP at £17.5m your Honour.

 

Lol.

TopGun

TopGun

Posted
Posted
Neil Allen ‏@pn_neil_allen

Wait a minute. Is this the same Keith Harris who found CSI for Portpin to sell #Pompey to? Oh yes it is.

 

Extra lol.

TopGun

TopGun

Posted
Posted
They were indeed retained by Saints and from memory only bought SISU to the taable. The bid at end claiming to offer more than Markus and threatening legal action was something to do with (I think) marc jackson

 

And look where SISU have taken Coventry. Lol.

Wade Garrett

Wade Garrett

Posted
Posted
They were indeed retained by Saints and from memory only bought SISU to the taable. The bid at end claiming to offer more than Markus and threatening legal action was something to do with (I think) marc jackson

 

Surely not 'I'm a photocopier salesman by trade' Jackson. I wonder what happened to him and that tool Saint David?

RedAndWhite91

RedAndWhite91

Posted
Posted
Surely not 'I'm a photocopier salesman by trade' Jackson. I wonder what happened to him and that tool Saint David?

 

Marc Jackson's Summary

 

Full negotiations with adminstrators at both Southampton Football Club and AFC Bournemouth. Also involved with restructuring and refinancing proposals at varoius FL and Championship Football Clubs.

IT Infrastructure design and project management experience of stadium installations both in the UK and abroad.

Extensive contacts in the middle east , Russia and USA. these are either investors with substantial funding for projects or channel partners of Ibase or Akdhar our associated company in Dubai.

 

Specialties

Complex distressed takeovers of Football clubs or management delivery of high level transition teams into distressed companies.

 

Marc Jackson's Experience

 

Director

IBASE Ltd

May 2009 – Present (3 years 10 months)

 

International Business Aquisition and Strategy engagments. IBASE specialise in purchasing high value companies , properties or portfolios normally from distressed situations for high net worth individuals or instituations .

We have strong connections within sport and have mandates to act on behalf of a number of football clubs in the UK and abroad.

 

http://uk.linkedin.com/pub/marc-jackson/6/168/467

Waterside.saint

Waterside.saint

Posted
Posted
Marc Jackson's Summary

 

Full negotiations with adminstrators at both Southampton Football Club and AFC Bournemouth. Also involved with restructuring and refinancing proposals at varoius FL and Championship Football Clubs.

IT Infrastructure design and project management experience of stadium installations both in the UK and abroad.

Extensive contacts in the middle east , Russia and USA. these are either investors with substantial funding for projects or channel partners of Ibase or Akdhar our associated company in Dubai.

 

Specialties

Complex distressed takeovers of Football clubs or management delivery of high level transition teams into distressed companies.

 

Marc Jackson's Experience

 

Director

IBASE Ltd

May 2009 – Present (3 years 10 months)

 

International Business Aquisition and Strategy engagments. IBASE specialise in purchasing high value companies , properties or portfolios normally from distressed situations for high net worth individuals or instituations .

We have strong connections within sport and have mandates to act on behalf of a number of football clubs in the UK and abroad.

 

http://uk.linkedin.com/pub/marc-jackson/6/168/467

 

Perfect :lol:

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