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Pompey Takeover Saga


Fitzhugh Fella

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Seems more and more like the FL are using Pompey's own supporters' actions (i.e. the PST) as a lever to get Pompey liquidated.

 

'It was what the supporters wanted, it's not our fault they're gone...'

 

I'm struggling to see many other explanations. If Bill Gates decided he wanted to use some of his foundation cash to buy Pompey and use them to raise the profile of the work they do with the desperate and underprivileged of this world, would the FL also block that because it's too late for any other deal?

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I'm struggling to see many other explanations. If Bill Gates decided he wanted to use some of his foundation cash to buy Pompey and use them to raise the profile of the work they do with the desperate and underprivileged of this world, would the FL also block that because it's too late for any other deal?

 

I think the FL would be so amazed if he did that they'd be stumped......

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It's a damning indictment of the absolute shambles that club is (not news to us, obviously) that the FL have said publicly that they'll block any bid other than the PST - they're obviously very confident that nobody in their right minds would have any interest in buying them.

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It's a damning indictment of the absolute shambles that club is (not news to us, obviously) that the FL have said publicly that they'll block any bid other than the PST - they're obviously very confident that nobody in their right minds would have any interest in buying them.

I was talking to a Pompey ST holder and he thought that it was disgraceful that the FL were blocking other bids. I think it is important to realise that they are not blocking any bids. They are just saying that any other owner than PST will not be provided with the golden share, i.e. membership of Division 2. This doesn't stop anyone buying the assets of the club and turning the ground into a Poundland. All that requires, is a piece of real estate without any prospect of supporting a football club, for the covenent to be lifted, as happened at the Goldstone Ground, Plough Lane, etc., etc.

The club as a business is dead. All that is left are the last rites, in my opinion...

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http://www.portsmouth.co.uk/sport/pompey/pompey-court-hearing-to-go-ahead-1-4809745

 

These so called journalists at the Snooze - does ANYONE actually proof read an article prior to publication - The grammar and spelling is just unbelievable FFS surely the minimum requirement for a journalist !!!!!!!!!!!!!!

 

Credit them for trying to get to the target audience mentality...and nearly getting down far enough for the phew that do actually read... :facepalm:

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Why the **** do they have to keep banging on about their bid being fully funded and ready to go to the court.

 

All the court is doing is deciding how much Fatpipes is worth not whether the PST is a going concern...

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Pompey council don't have a pot to p1ss in....

 

http://www.portsmouth.co.uk/news/politics/pay-as-you-go-toilets-for-portsmouth-would-be-too-expensive-1-4814508

 

As previously reported in The News, the council is considering closing 13 of its 25 loos in Portsmouth because it needs to save £200,000 and spend money in other areas.

 

I wonder what else they could be thinking of spending their toilet budget on....

 

article-1254880-08776D54000005DC-84_468x404.jpg

Edited by trousers
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I'm struggling to see many other explanations. If Bill Gates decided he wanted to use some of his foundation cash to buy Pompey and use them to raise the profile of the work they do with the desperate and underprivileged of this world, would the FL also block that because it's too late for any other deal?

 

That is a very good question

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I'm struggling to see many other explanations. If Bill Gates decided he wanted to use some of his foundation cash to buy Pompey and use them to raise the profile of the work they do with the desperate and underprivileged of this world, would the FL also block that because it's too late for any other deal?

 

I think the mental health act would kick in before the FL needed to intervene if Gates did that...

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http://www.express.co.uk/sport/football/379265/Football-League-denies-softening-stance-as-Pompey-court-battle-looms

 

At the High Court today Mr Justice Sales agreed that the much-delayed hearing should go ahead to decide whether the charge can be set aside and if so, for how much. The dates are expected to be decided by court officials in the next couple of days but it will be heard by April 19 at the latest.

Lawyers had advised that without the judge agreeing to an acclerated hearing it would have been the summer at the earliest before the case could be heard, by which time Portsmouth - founded in 1898 and twice League Champions and twice FA Cup winners - would have gone out of business.

A spokesman for PKF said: "We are pressing ahead with the case that is seeking the court’s consent for the disposal of Fratton Park to the PST.

"The court has this morning confirmed that the case will be heard by 19 April at the latest, which will enable us to meet the Football League's deadline for the sale of the club, subject to a favourable ruling. We hope that, in the next few days, the court will be able to set a specific date for this hearing."

The court heard that last night the Football League sent Portpin a letter which suggested that it might soften its stance on only considering a bid from the Trust.

"The court was also made aware that correspondence has been exchanged between the Football League and Portpin which seems to lead to some ambiguity with the League's previous public statements that no other bid would be considered at this late stage. We will be seeking clarification from the League as a matter of urgency," the administrators said.

But within hours the Football League published a statement, insisting it had not changed its twice-stated stance.

A League spokesman said: "As stated after its most recent meeting, the Board of The Football League is not considering alternative applications for the transfer of Portsmouth's share in The Football League. Instead, it remains focussed on a successful transfer of share to the preferred bidder, the Pompey Supporters Trust."

Colin Farmery, spokesman for the Trust, said: "At the end of the day we are pleased the court case is proceeding.

"It needs to be heard by April 19 to meet the Football League's deadline and we are confident it will be sooner than that as this needs resolving as soon as possible.

"The Football League say we cannot go into another season in administration and the judge realises time is of the essence. We hope we will be in control much sooner that that.

"The PST's bid is the best one for the creditors and for the club, and means Fratton Park will be back under the ownership of Portsmouth Football Club."

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Apologies if this has already been posted. An article by Patrick Barclay. Starts off well, but at the end... let's just say get your facepalm gifs ready... :facepalm:

 

http://www.standard.co.uk/sport/sport-comment/patrick-barclay-sad-story-of-the-prince-and-the-paupers-8504516.html

 

Watching Milan play Barcelona at San Siro last night, I couldn’t help but feel for Kevin-Prince Boateng and Sulley Muntari. How they must miss the good old days at Portsmouth.

 

 

 

All they have left now is Champions League nights with Lionel Messi, when they could be revelling in the fight to avoid relegation to League Two.

 

The Ghana pair (above), who scored the goals that beat Barcelona in an enthralling first leg, offered a poignant reminder of a lost age at Fratton Park. An age that must never return.

 

It was less than five years ago when Portsmouth won the FA Cup by beating Cardiff and, although the club’s support were not to blame for the overspending that conspired in it, their celebrations must be viewed in retrospect as fraudulent.

 

I know the feeling. My club, Dundee, last reached a cup final in 2003 with a team we could not afford. When we subsequently went into administration for a second time, we were rightly docked 25 points. Rangers, who beat us in that final, turned out to be just as bad, if not worse, in terms of cheating the taxpayer and other creditors.

 

Dundee are now a community club, largely owned by the supporters. It doesn’t make everything all right — yesterday one of our all-time greats, Barry Smith, was sacked as manager with the team heading out of the Premier League — but it is honest and sustainable. The tears that flooded Dens Park yesterday were ours, not those of bereft shopkeepers.

 

Portsmouth fans are working towards buying their club and appear to have the support of an enlightened Football League in resisting a rival bid fronted by the ubiquitous Keith Harris. I wish them every scrap of luck going.

 

A big club owned by the supporters would be significant. Mind you, even this is not a perfect model, as Barcelona discovered last night.

 

:facepalm: :facepalm: :facepalm:

 

The skates on POL are lapping it up, in particular a certain Corporate Ho

 

He's replied to emails I've sent him in the past about us (especially when Chainrai was looking to take control again) as has John Cross of The Mirror. Patrick Barclay once even repled and carried on an email conversation when he was on a family holiday (which he didn't tell me until the end of the chain of emails).

 

It's good to know there are some decent journalists out there who acknowledge the real story

 

:lol:

 

Then there's this gem of a post

 

I just had a quick look at the scum site. They seem to have gone from saying all Chainrai had to do was produce someone in court to say he'd pay a penny more fro FP and the judge would side with him and that the PST don't have the money to now saying they want the Trust to win because it will give them "more laughs"

 

I expect this position to change on an almost hourly basis so they can claim they were right about whatever happens as they'll have covered every base imaginable by then. Their style of "getting it right all along" is marvellous. It doesn't seem to have occurred to them that it's an almost perfect example of that old quote about if you give enough monkeys typewriters eventually one of them will produce the complete works of Shakespeare

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The Pompey fans being the best should

Invest trust in their hero John Westwood

He's got his own little band

Who've saved two hundred grand

Though that's in IOUs which is less good.

 

The standard of prose on this board is getting quite stupendous !

 

Congratulations on the best one yet !

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Great bit of spin.

 

Statement by Ashley Brown, Chairman of the Pompey Supporters' Trust following the hearing on Thursday February 21 in the Royal Courts of Justice.

 

Ashley Brown, chairman of PST, said: 'We are pleased our bid is proceeding. As presented in court today our bid is fully funded and ready to go and we hope a date can be found in the near future to resolved this matter so the Trust can start the job of rebuilding the club.

 

'The Football League has also cleared up any confusion by making it clear for a third time that it will only consider a bid from PST.

'Our bid has widespread support, including from Portsmouth City Council, our property partner Stuart Robinson, local and national politicians, Supporters Direct and, most importantly thousands of loyal Pompey fans who have backed the club financially when it needed it most.

 

'They have done this by either buying shares, attending matches or, most importantly in the case of our high net worth investors, by underwriting the club's losses in the autumn. Without them the club may have already disappeared.'

 

FL statement said no such thing about only dealing with the PDT bid, it stated only dealing about transfer of share - a totally different kettle of fish!

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Surely the PST can afford to buy the club without the ground if the court ruling goes against them?

 

I would have thought they'd rather retain their precious history and ground share with Brighton than die completely?

 

Saying we want the club but we must have the ground too or we're not interested is just childish for a supporters trust

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Then there's this gem of a post

Originally Posted by Banker/Corporate HoI just had a quick look at the scum site. They seem to have gone from saying all Chainrai had to do was produce someone in court to say he'd pay a penny more fro FP and the judge would side with him and that the PST don't have the money to now saying they want the Trust to win because it will give them "more laughs"

 

I expect this position to change on an almost hourly basis so they can claim they were right about whatever happens as they'll have covered every base imaginable by then. Their style of "getting it right all along" is marvellous. It doesn't seem to have occurred to them that it's an almost perfect example of that old quote about if you give enough monkeys typewriters eventually one of them will produce the complete works of Shakespeare

 

Bless. We've been saying either eventuality has extreme comedy value since the beginning of time. But he's right....trying to work out exactly WHICH scenario will provide the MOST laughs is a tricky business as there's so many good laughs to choose from. I'm sure he'll "get it" one of these days. #sigh

Edited by trousers
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Interesting story about Dundee. They've certainly paid a heavy price for all that overspending, diverging totally from the level of their (literally) next-door neighbours United ever since then, when they were virtually equal in terms of success up to that date (both had a decade of extraordinary success and were regulars at the top of scottish football). They must be happy the Rangers issue meant they enjoyed a revenue-pumping season in the SPL, even if not as much as it would've been if the giants were in it.

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quote_icon.png Originally Posted by Corporate Ho

It's good to know there are some decent journalists out there who acknowledge the real story

 

One assume he agrees with this bit from that article too then:

 

It was less than five years ago when Portsmouth won the FA Cup by beating Cardiff and, although the club’s support were not to blame for the overspending that conspired in it, their celebrations must be viewed in retrospect as fraudulent.

 

Good to see that they are at long last acknowledging they were cheats (the club) and frauds (the fans).

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So this thing about the FL softening its stance... plus the difference between approving a bid and awarding the golden share got me wondering...

 

What if the FL wrote to Portpin something along the lines of "the FL has no authority to determine who PKF chooses to sell PFC too, and PKF is free to sell the club to whichever bidder it wishes"...?

 

This would be an entirely accurate statement and not at odds with their public statement of "We are not considering alternative applications for the transfer of pompey's share in the League"

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Official_Twitter_Logo_normal.jpgPortsmouth FC ‏@officialpompey

Let us know your favourite foreign #Pompey signing - and why - for the MK Dons programme. Use hashtag #MKDonsProg

There aren't enough facepalms in the world to allow me to copy all of the replies (yep, you've guessed it.... fans fawning over all the players they couldn't afford....)

 

I don't think they'll EVER get it...

 

edit: I'll make an exception for this one...

 

rkr7lwo9auir17c528qj_normal.jpegmatthew clements ‏@mattclementspfc

@officialpompey #MKDonsProg Kanu for scoring in the semis of the fa cup and the winner against Cardiff

 

:facepalm:

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If they do get around the ground issue, 19th April sounds a bit late for losing the points this season.

When is the deadline for losing the points this season rather than next ? 31st March ?

 

There's no deadline for this particular points penalty - it'll be applied if/when they come out of administration, whenever that may be...

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One assume he agrees with this bit from that article too then:

 

It was less than five years ago when Portsmouth won the FA Cup by beating Cardiff and, although the club’s support were not to blame for the overspending that conspired in it, their celebrations must be viewed in retrospect as fraudulent.

 

Good to see that they are at long last acknowledging they were cheats (the club) and frauds (the fans).

 

I'm sure that you recall as well as I do, W*nker/Corporate Ho going apoplectic with rage at assertions from us that the FA Cup was obtained by the Skates cheating, by fielding a team that they couldn't afford. Like the hypocrite he is, he will only acknowledge the parts of the article that paint the picture he wants to see. He isn't bright enough to see that the crooks that brought the club to its knees also paid money earned through nefarious means to finance that successful FA Cup campaign and he can't distance himself from them on the one hand and embrace the success that their blood money or laundry money brought on the other hand.

 

I also have to pity him for the difficulty that he is having in acknowledging that most of us on here were right, in that we predicted that the level of over-spending they indulged in on such meagre gates would inevitably result in their demise. Why, even OldNick is slowly coming round to the possibility that they have not got away with it after all.

 

Corporate W*nker might liken us to monkeys because of our predictions, but waving his blue arse in our direction makes him look like a baboon.

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I think the FL are being very careful with the tense they are using in their statement. They are saying 'they are not considering...' which simply means right now they aren't, but that doesn't mean they could not consider something else tomorrow.

 

I think you also have to factor in their repeated use of the phrase "preferred bidder" - i.e. until PKF approach the FL with a new 'preferred bidder' that isn't the trust, then they really can't be arsed to 'consider' any other bids.

 

Basically they keep batting the ball straight back into PKFs court each and every time PKF come up with some FL related statement. Luckily the phew are too stupid to realise what they are doing and so lap it all up.

 

For the record Corpse, personally I would love to see your club wiped off the face of the planet. Since this doesn't seem to be happening in the near future, then I, like many, many other Saints fans are more than happy to see the trust take over with their open and transparent communication and literally no sign of infighting at all :D

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Am I correct in my understanding that the court hearing is to agree a valuation for FP, not to agree with PST's valuation of FP ?

 

First of all, the hearing is to decide whether FP can be sold in the first place.

 

If it decides it can be sold, the judge will then set a market value for it.

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