Jump to content

Pompey Takeover Saga


Fitzhugh Fella

Recommended Posts

As you are aware, Portsmouth City Council has resolved to make a loan available to the Trust to assist their bid to take over the club, and the City Council is working hard to enable this to occur

 

So nothing has actually changed re: the loan? PMSL. PCC "resolved" to make the loan months ago, subject to the conditions documented. Yet they're still working hard to enable it? Suggests done of the key conditions have not been met (I wonder which!) and there's still a £1.45m hole in the funding.

 

Who would have thought? :lol:

Link to comment
Share on other sites

Reasonable skates..........That's the only thing I'll miss when they go pop. :(

 

You must have been inflating them too much...

 

On a more serious note, if all the PFA did was ask for clarification on why the bid was turned down, who actually caused the adjourment?

Link to comment
Share on other sites

Yeah, I wonder if they realize that liquidation includes the supporters as well.

 

That's lucky then.

 

Tesco & Aldi will be needing some new low cost meat substitutes for their Value range products.....

 

Just remember in a couple of months to shake any burgers you buy in case they liquidate the bell as well as the TCWA

Link to comment
Share on other sites

I love the part about teaching some lad to head a ball...

 

‘I think Ric (Ricardo Rocha) can head a ball, Gabor can also head a ball – and they are teaching Adam Webster how to head the ball which is good because he is our future.

 

Please read this out loud for yourselves - in a thread of comedy gold this one is up there with some of the best. The images I get in my mind is not too far off that video posted from the Pompey half time talk.

 

GW: "Ric, I seem to remember that you can head a ball. Yes? No? No?! Ok then. Gabor, you can head a ball. Show young Adam how it is done. See Adam? The ball hit his head. That's called a header. You must learn that because you are our future, and we will need some headers in the future when Gabor is gone."

 

Oh, and Special Neil managed to sneak another beauty into the article when he describes how "the caretaker boss is delighted with the impact the Nigerian international has had on his team so far". Nigerian International? Really? Seeing as the last of his 7 international games came in August 2010 (the first in 2005), I think Neil should probably have managed to sneak in the word "former" somewhere in that sentence...

Link to comment
Share on other sites

So nothing has actually changed re: the loan? PMSL. PCC "resolved" to make the loan months ago, subject to the conditions documented. Yet they're still working hard to enable it? Suggests done of the key conditions have not been met (I wonder which!) and there's still a £1.45m hole in the funding.

 

Who would have thought? :lol:

Does "working hard to enable it" include closing public toilets, playgrounds, and youth clubs, not maintaining cemetaries, not paying for lollypop patrols and doing pretty much everything they can to cut costs to ensure this tax avoiding company can continue?

 

£30m of unpaid taxes, yet they still might get a government hand out. Disgusting.

Edited by Chez
Link to comment
Share on other sites

http://www.portsmouth.co.uk/sport/pompey/thwarted-again-but-brighter-news-on-pompey-training-ground-1-4789906

 

Pompey were once again thwarted from venturing into their new training home at Eastney Barracks.Only this time it was down to the weather rather than paperwork.

It has now been two weeks since leaving Eastleigh and the Blues have still not managed to move to their new training base.

Eastney Barracks, nowadays called the Cockleshell Community Sports Club, had long been the preference.

Finally, Whittingham’s men were given the green light to train there yesterday.

Yet the recent wet weather put paid to that and instead they travelled to South Downs College and the Mountbatten Centre to use their Astroturf pitches.

4111021634.jpg

Link to comment
Share on other sites

http://www.portsmouth.co.uk/sport/pompey/vultures-are-circling-for-pompey-fledglings-1-4789902

 

Guy Whittingham has vowed to keep Pompey’s young fledglings grounded as the vultures begin to circle.

The Blues caretaker boss has confirmed his side have turned down offers for rising star Jed Wallace following his hurtling elevation to the first team.

Whittingham dismissed two bids for the 18-year-old before the close of the January window – believed to be from Port Vale and Brighton – as ‘derisory’.

 

How can Whittingham turn down offers for players? I thought PKF were running the club....?

Link to comment
Share on other sites

However ordinary, everything has to be dressed up as a little victory. :o

Remember the initial adjournement celebrations? The party has gone a bit flat by the 4th one.

 

Well I see the desperate hunt for anyone who will offer them a training pitch has now been spun into something quite different.

 

he is delighted to have landed the venue ahead of other contenders HMS Collingwood and the University of Portsmouth.

 

Yes, there was quite a competition for that role, they had the pick of top class venues all across the Solent region, the other two will be really miffed that they didn't get 'selected' after pompey made their choice!

 

As for Penny, did you say she was casting the first scone?

Seems unlikely that she would throw any cake away.

 

 

 

 

They have now taken the decision to hang onto players rather than get some income.

We gave away Surman at a knockdown price to cover running costs, didn't Coventry have a firesale too?

Even in administration and with a mass clearout, pompey have chosen to hold onto players instead of taking offers.

I suspect creditors might have chosen the cash option.

 

So once again it's not bad luck, and it's not unfortunate timing - if they hit a further cashflow problem now, it is entirely of their own making.

Keep the players to gain sporting advantage, and if things get tight, hope that the running costs will be covered by others.

Link to comment
Share on other sites

As always Rally you hit the proverbial nail on squarly on its head.... Te fact that they have had 4 years of opportunity to cut their cloth, do all they could to resolve the situation and done the exact opposite - taken on players they could not afford .... building a second debt legacy.... and a third looks likely if the PST take over, starting with loans, deferred payments to other creditors and having to have sold their 'soul' as a vast chunk of the only genuine equity to the HINWs - so they will begin tehir new life not owning the majority stake, having deferred payments to creditors looming and with loans... so what will have changed?

Link to comment
Share on other sites

However ordinary, everything has to be dressed up as a little victory. :o

Remember the initial adjournement celebrations? The party has gone a bit flat by the 4th one.

 

Well I see the desperate hunt for anyone who will offer them a training pitch has now been spun into something quite different.

 

he is delighted to have landed the venue ahead of other contenders HMS Collingwood and the University of Portsmouth.

Yes, there was quite a competition for that role, they had the pick of top class venues all across the Solent region, the other two will be really miffed that they didn't get 'selected' after pompey made their choice!

 

I can't see HMS Collingwood and the University of Portsmouth letting their Pompey Dreams die. They'll besiege Fortress Fatpipes begging for 'one more chance' to regain their status as Pompey fraud victims when the rent somehow, inexplicably, doesn't get paid - 'the cheques in the post. No? OK it was a mistake by our accounts dept. No? Er... Um...' :D

Link to comment
Share on other sites

http://www.portsmouth.co.uk/sport/pompey/vultures-are-circling-for-pompey-fledglings-1-4789902

 

 

 

How can Whittingham turn down offers for players? I thought PKF were running the club....?

 

That Trousers is a very good question and one the creditors should be all over. There is something fishy going on down on the island.

Link to comment
Share on other sites

Missed these pearls of wisdom from yesterday...

 

PM_profile_1_normal.jpgPenny Mordaunt MP ‏@PennyMordauntMP

Gr8 support from the PM for #Pompey and the PST bid (Story carried by tonight's evening news) Football mustn't be a #bigsociety free zone.

 

5555ee26b3c0c5dc00a36263496fb5ea_normal.jpegMax ‏@MaxyBoyPFC

@PennyMordauntMP Great work Penny,thank you for your part.Are you confident the PST will succeed after yet another adjournment & PFA issues?

 

PM_profile_1_normal.jpgPenny Mordaunt MP ‏@PennyMordauntMP

@MaxyBoyPFC yes, we will get there. So much good will, so much support. Have faith and hang in there! :) thanks for the tweet.

 

5555ee26b3c0c5dc00a36263496fb5ea_normal.jpegMax ‏@MaxyBoyPFC

@PennyMordauntMP Good to hear. The City's club must be run with passion & care from the heart - only the PST can truly offer that...

 

And...

 

@tomdearie: @PennyMordauntMP More integrity in your small finger & done more to forward football in this country than the entire @PFA have ever done (retweeted by @PennyMordauntMP)

Edited by trousers
Link to comment
Share on other sites

Anyone heard any news on how the £30,000 allocated for free school tickets is going?

 

http://www.portsmouthfc.co.uk/LatestNews/latest-news/Free-Tickets-For-Schools-3765.aspx

Fans landed the £30,000 prize by making more ‘noise’ on Facebook and Twitter than followers of the other 72 Football League clubs.

 

A public vote was set up to decide how the money should be spent – and the Fratton faithful decided local schoolchildren would benefit.

 

Pompey in the Community – the club’s award-winning charity arm – will distribute the tickets, starting from the next home league match against Crewe on October 13.

 

Schools can apply for a pack of 12 tickets (two adults, 10 juniors) by emailingfanpower@pompeyitc.org.uk

 

There will be 14 packs available for each game – although more might be available for higher-profile matches – and the initiative will run for each of the 15 remaining 3pm kick-offs.

 

I still don't understand what happens to the money when the "free" tickets are dished out to the schools each game....

Link to comment
Share on other sites

http://www.portsmouth.co.uk/sport/pompey/sodje-our-bodies-are-on-the-line-for-pompey-fans-1-4789836

 

The days of the Blues shelling out big-money wages on players are long gone but so are some of the mercenaries who prospered from that.

 

Sodje underlined that those who remain are motivated by the prospect of representing Pompey instead of financial gain.

He said: ‘I know what the fans are going through but what they should bear in mind is the players are here for them.

‘We are not here just to be a footballer and not care. I am not here for money.

Sodje has nothing but praise for the supporters who have stood behind their team during that run, while waiting to see if they will have a club in the Football League next season.

 

He insists their backing is the best he has seen in a career which has spanned spells at the likes of Leeds, West Brom, Reading and Charlton.

 

And he feels he is well placed to have empathy with the Fratton faithful after facing struggles of his own.

 

Sodje said: ‘I’ve played for some big, big clubs.

 

‘But I’ve never seen anything like it (at Pompey) – it’s ridiculous.

 

‘I know there’s only so much you can take in life.

 

‘I know this because I grew up in Africa and times were hard. There is only so much you can take but they keep coming.

 

‘I have to say thank you to them for that.

 

‘Yes, these are hard times but they are the best fans ever.’

 

Coffee_spray.gif

Link to comment
Share on other sites

 

:) :)

 

As an aside, what was the limit that the FL put on secured debt being carried forward post administration? Was it 5 million?

 

The council loan, the generous loan from the mystery investor and the secured football creditors....How much does that all add upto.... Just a thought

Link to comment
Share on other sites

:) :)

 

As an aside, what was the limit that the FL put on secured debt being carried forward post administration? Was it 5 million?

 

The council loan, the generous loan from the mystery investor and the secured football creditors....How much does that all add upto.... Just a thought

 

Good question. Wouldn't the football creditor debt take them over the £5m straight away or does that not count because it's matched by those much used PPs?

 

£1.45 PCC loan

£800,000 HNW loans

? Robertson loan to buy notarffkrap

£800,000 CVA unsecured creditors

£8m football creditors agreements

£2m floating charge???

Link to comment
Share on other sites

×
×
  • Create New...