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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Gorgiesaint

Gorgiesaint

Posted
Posted
@pn_neil_allen: So #Pompey Trust have council loan, fan pledges, PKF preferred bidder status, FL & PFA approval & partner Robinson has land.Time to believe?

 

Err not sure about that bit Neil, seem to remember the PFA insisting on their members being paid or something daft like that...

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Winchester Red

Winchester Red

Posted
Posted
I don`t see them lasting the summer. If people`s predictions are right ,they will have no money in the bank,no income during the summer but plenty of outgoings!

 

They can start selling season tickets as soon as they take over and I'm sure the HNWs will put their hands in their pockets again if the sale is complete

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hypochondriac

hypochondriac

Posted
Posted (edited)

It's obvious what will happen. They will be allowed to take over, will get a rush of headlines from the News proclaiming a new era and being a guiding light showing football clubs how to behave. They will be called the future of English football (lol.) They will get decent attendances for league two and as such will be able to get some half decent players in league two. I expect them to get promoted within three years to much fanfare. From there it gets harder I suspect that they would find that league one will be their level. Possibly they will get a year or two of championship football in the future but it will be lower championship and probably relegation again. The bad bit for them is that the longer they stay down and all the teams around them stay more successful, the less fans they will eventually get.

 

Perhaps the most amusing bit will be that they will go on about us being jealous because they own their club and how much better it is whilst we will no doubt be above them for a generation.

Edited by hypochondriac
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TopGun

TopGun

Posted
Posted (edited)
I don't think the PDT are using the extra £4m, or in fact any of the parachute payments, to buy the club. They're using the money in the club (inc the £4m) to pay the debts 'of the club'.

 

It's a case of distinguishing between the money to buy the assets of the club (pledges, pcc loan, hnw loans, etc) and the money to pay the debts (parachute payments and f*ck all else)

 

They could borrow money secured against the assets of the club to buy it like you would use a mortgage to buy a house (Manure), but they can't use the assets of the club or cash within the bank account of the club (that don't belong to them) to buy the club. It's a fine balance but I guess it's confusing for some because all the +'s and all the -'s keep getting lumped together by people

 

They can use some of their money to pay the debt, but they can't use the clubs money to buy the club

 

Or am I wrong?

 

Nope, you're right.

 

The other salient point is that the PPs are there to allow football clubs to pay players they can no longer afford after relegation, not to prop up other aspects of the business. Pompey have not paid their former players as the PPs intend. That needs to be addressed by the football authorities in general IMO. Obviously the football creditors rule is meant to do that but it has been very badly explained to the public in general.

Edited by TopGun
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redfred

redfred

Posted
Posted
I don`t see them lasting the summer. If people`s predictions are right ,they will have no money in the bank,no income during the summer but plenty of outgoings!

 

They'll have no players under contract to worry about paying over summer though.Last minute bargain shopping in August instead, but the season ticket income would be put away for a rainy day. Surely

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dubai_phil

dubai_phil

Posted
Posted

 

You see there they go again. Another legal loophole left open.

 

The Creditors Committee can always have a word with The Administrator, because IF he turns down a real bid that offers a better return? More legal loopholes.

 

I'm gonna get up at the crack of mid morning tomorrow to go buy myself a nice bit of Emmental cheese to go with my Popcorn next week

 

Now, before we go there, one quick question.

 

Who has more experience of Football Club Takeovers PDT or Keith & Orville?

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trousers

trousers

Posted
Posted
Originally uploaded by Factless, preserved for truth incase Baloo's lawyers come after him and he hides the evidence.

 

IODTJ5.jpg

 

Links to each below:

 

http://i.cubeupload.com/2CJqtu.png

 

http://i.cubeupload.com/RRK1KS.png

 

I assume for balance and transparency Mr Allen will also be publishing the council's retrospective reply to this email / letter?

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rallyboy

rallyboy

Posted
Posted

short term they are fine.

They have a few million to play with, promised to others but burning a hole in their pockets, they'll have season ticket money too, and with no player wages until July, all is well...

 

 

 

 

 

Until the council want their money, and the former heroes start demanding theirs, and the other clubs want theirs, and the CVA drags on, and the floating charge stops floating and lands on their desk, and running a football club solvently, turns out to be harder than they ever imagined.

And that's before they fall out with their new boss, Mr Robinson, and his mystery backers - if they can all shrug off the loan shark.

 

But their biggest problem is likely to be their oldest addiction - the need to spend more than they can afford.

 

If they budget and stick to it they could steady the ship over a couple of years.

 

But they won't do that, they'll present their manager with a plucky promotion warchest as demanded by the faithful who never gave up - and when they sign their first player outbidding a League One side, the next administration will sail into view beyond the Isle of Wight, and start steaming gently towards Southsea Castle.

 

Slowly but surely it will chug through the Solent, like night follows day...tis their destiny.

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trousers

trousers

Posted
Posted (edited)

@joemichalczuk: Quite simply the decision by @football_league not to consider the best bidder for PFC - as determined by the creditors + PKF - is scandalous

 

@joemichalczuk: It's offensive to the fanbase, to the taxman, to the very integrity of the @football_league - quite simply it stinks, but what can we do?

 

@joemichalczuk: Once more #pompey fans are used, abused and ignored. But why do we expect any more eh? And remember I'm a lifelong fan who feels like this.

 

@joemichalczuk: No one can argue against that. PFC is being pillaged in front of my eyes - the @football_league are to blame.

Edited by trousers
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Katalinic

Katalinic

Posted
Posted
@joemichalczuk: Quite simply the decision by @football_league not to consider the best bidder for PFC - as determined by the creditors + PKF - is scandalous

 

@joemichalczuk: It's offensive to the fanbase, to the taxman, to the very integrity of the @football_league - quite simply it stinks, but what can we do?

 

@joemichalczuk: Once more #pompey fans are used, abused and ignored. But why do we expect any more eh? And remember I'm a lifelong fan who feels like this.

 

@joemichalczuk: No one can argue against that. PFC is being pillaged in front of my eyes - the @football_league are to blame.

 

Its hilarious not scandalous - its going to be so amateurish. I can't wait.

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trousers

trousers

Posted
Posted (edited)

http://backpagefootball.com/russia-to-portsmouth-via-germany-the-trip-that-could-revolutionise-english-football/54433/

 

Eighth in the Premier League. FA Cup Winners for the first time since 1939. A new owner keen on building a world-beating team, worth over £100m. The first time the club have ever played European football. A new £600m 36,000 stadium under development. Stability in the management structure; stability within the playing squad.

 

Roll on five years, and the story is very, very different. Eight different managers. Five different owners. Two administrations. Two winding-up orders. Over £130m in debt associated to the club. Two relegations into the third tier of English football, and now a new ownership battle shaping up involving several parties. It’s a sorry state of affairs for Portsmouth Football Club.

 

We know a song about that, don't we boys and girls?

 

Sha la la la la la la la...

Edited by trousers
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Monk

Monk

Posted
Posted

after what I have endured the last week, this club really is full of scum. For those who have read that **** head Awfords column in The News, they have played some very dirty tactics.

 

In my opinion, they've just bitten off more than they can chew.

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Lighthouse

Lighthouse

Posted
Posted

I just wish they had half-built that stadium. Cleared the land, put in the foundations, built up a huge steel exoskeleton... then nothing. The money stops and we are left with an eternal, useless and very expensive monument to Pompey's truly spectacular fall from the heavens of English football. Half built and abandonned like something out of Pripyat, an almost poetic beauty to its grandeur and loneliness.

 

No need to bury a Saints shirt under the pitch or have a greyhound p*ss on the corner flags or any of that none sense. We can all just stand around on Sunday afternoons, lighting candles and cheerfully laughing or tits off.

 

Sadly it was never to be. :cry:

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melmacian_saint

melmacian_saint

Posted
Posted

I remember a few months ago a fan claimed that a Trust takeover in its current form (i.e. debts to pay, income, funds, budgets etc..), when subject to a Football Manager testing, came out with the result of "struggling in the Conference South"?

 

Somehow this sounds much more appealing to me than liquidation. Maybe an all-time record slide down the pyramid in the cards? Fratton Park in the Southern League sounds so hilarious....

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trousers

trousers

Posted
Posted
Getting a 'page unavailable' message. Could #factlessallen be getting his facts wrong again and covering his tracks?

 

He re-tweeted it for some reason. More likely to be incompetence than ignorance this time I would hazard a guess.

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Sevvy

Sevvy

Posted
Posted

I reckon PKF / PST / PDT will go to court on valuation day and say look the land is worh X because it is contaminated and will cost over a million to clear it and you can only build between 40 and 80 homes on it, if there is no footbal team playing on, so by giving Chinny 3 million we are giving more than it is worth, then chinny's team will turn round and show them Pompey's old plans for the ground saying look this is what you can build on it if the football team has gone, so we would value it a Y, Now how can a judge argue with that when its one of the original owners who came up with such plans for Fratton park.

 

I wouldnt be surprised if Chinny has something else up his sleeve apart from the Harris offer for Fratton,

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trousers

trousers

Posted
Posted
I reckon PKF / PST / PDT will go to court on valuation day and say look the land is worh X because it is contaminated and will cost over a million to clear it and you can only build between 40 and 80 homes on it, if there is no footbal team playing on, so by giving Chinny 3 million we are giving more than it is worth, then chinny's team will turn round and show them Pompey's old plans for the ground saying look this is what you can build on it if the football team has gone, so we would value it a Y, Now how can a judge argue with that when its one of the original owners who came up with such plans for Fratton park.

 

I wouldnt be surprised if Chinny has something else up his sleeve apart from the Harris offer for Fratton,

 

Whilst judges are supposed to be impartial, I can't see Mr Sales bucking the trend of no-one in authority putting their head above the parapet and pulling the trigger. He would get all sorts of threats from the less intellectual Pompey fan for a start.

 

Despite all logic suggesting otherwise, I can only envisage the judge waving through the PDT bid.

 

Unless there's a tangible legal reason he can cite for not giving it the green light?

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pedg

pedg

Posted
Posted
Whilst judges are supposed to be impartial, I can't see Mr Sales bucking the trend of no-one in authority putting their head above the parapet and pulling the trigger.

 

Probably, but I think we can guarantee from past events that there will be a number of unexpected twists and turns before we get there.

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trousers

trousers

Posted
Posted
Probably, but I think we can guarantee from past events that there will be a number of unexpected twists and turns before we get there.

 

Indeed. I wasn't for one minute suggesting that it wouldn't be a good thing from a nutjob perspective :)

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Ken Tone

Ken Tone

Posted
Posted
I don't think the PDT are using the extra £4m, or in fact any of the parachute payments, to buy the club. They're using the money in the club (inc the £4m) to pay the debts 'of the club'.

 

It's a case of distinguishing between the money to buy the assets of the club (pledges, pcc loan, hnw loans, etc) and the money to pay the debts (parachute payments and f*ck all else)

 

They could borrow money secured against the assets of the club to buy it like you would use a mortgage to buy a house (Manure), but they can't use the assets of the club or cash within the bank account of the club (that don't belong to them) to buy the club. It's a fine balance but I guess it's confusing for some because all the +'s and all the -'s keep getting lumped together by people

 

They can use some of their money to pay the debt, but they can't use the clubs money to buy the club

 

Or am I wrong?

 

 

i think you might be. Isn't it that the original amount of pp's would be used to cover the football creditors ,but the extra £4 million will be us to repay the loans from the council and Robinson, that they are using to buy the club (and of course no one is paying the debts of the club as such .... Only a tiny fraction of them)

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Waterside.saint

Waterside.saint

Posted
Posted
They were never, ever, going to be liquidated although, granted, it was a close run thing.

 

Personally I'm delighted that the slow car crash that is pompey will continue it's downwards spiral for years to come.

 

They're b*ggered for a generation whatever happens, and we can enjoy more schadenfreude and many more laughs as the self-fulfilling prophecy that is PFC continues its hilarious spiral of decline :)

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SaintRichmond

SaintRichmond

Posted
Posted
Skates getting ahead of themselves on their fans forums - convinced Tesco are going to partner with them and build them a massive new stadium as a result of the Robinson deal.

 

That would be relatively obvious IMHO, Makes complete sense

 

In two years time they will be bigger than us, most of the Inbreds are already off their Trolly

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suewhistle

suewhistle

Posted
Posted
Get out the slow cooker and put on a stew instead. Set to 'simmer'...

 

Time for a new image for the thread?

 

It's a good metaphor. Back after a day's teaching or skiing this is the first internetty thing I look at, just to check if it's still simmering away nicely...

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SaintRichmond

SaintRichmond

Posted
Posted
short term they are fine.

They have a few million to play with, promised to others but burning a hole in their pockets, they'll have season ticket money too, and with no player wages until July, all is well......................

 

Slowly but surely it will chug through the Solent, like night follows day...tis their destiny.

 

 

Young Luke Skywalker was told that as well .............

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trousers

trousers

Posted
Posted

http://www.portsmouth.co.uk/sport/pompey/pompey-boss-confident-butler-will-pen-new-deal-1-4840099

 

Guy Whittingham is adamant Dan Butler will not be quitting Fratton Park this summer.

The 18-year-old is out of contract at the end of the season, raising fears he could be lured away.

 

Whittingham said: ‘Dan Butler is being sorted out as we speak – but he isn’t going anywhere.

‘Whether we can offer a new contract during administration has to be clarified yet.

‘There is dialogue with people to find out what is happening.

‘Hopefully in the next couple of days we will find an answer to that so we know where we are.

‘We’ve talked to Dan about it and all the young ones know they are part of the future of this football club.

‘Dan is staying, whether he wants to or not!

‘He wants to stay. Some youngsters move too early.

‘We are saying to them “the best way for your experience is to play first-team football, that is where it really counts”.

‘He is listening to me and Awfs. He has got no choice!’

 

Oh yes he has....

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FloridaMarlin

FloridaMarlin

Posted
Posted
http://www.newsnow.co.uk/A/632188548?-11209:804

 

First Animal for the new PST petting zoo,

 

 

"The peacock, dubbed Pompey by staff, is very wary of strangers and has already pecked his handler.

 

A peacock called Pompey, biting the hand that feeds it. You couldn't make it up.

 

Everything on that bloody island is as infected as this place http://news.bbc.co.uk/1/hi/scotland/1457035.stm

 

Portsea Island - no longer the Island of Dr Moreau. Now known as Anthrax Island.

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FloridaMarlin

FloridaMarlin

Posted
Posted

Rather ironic considering they only actually ended up paying about £5m to build it as they went into administration shortly after it opened...

...and no penalty points either!

 

It was the way the Foxes fiddled admin to shed their debts (and thus provide other clubs with a potential model to do it) that was the driving force behind the current rules providing for a points deduction for going into admin.

 

Other clubs were so livid that they shed their debt but still managed to keep their players that they decided it should not be allowed to happen again without some form of sanction.

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Guan 2.0

Guan 2.0

Posted
Posted
after what I have endured the last week, this club really is full of scum. For those who have read that **** head Awfords column in The News, they have played some very dirty tactics.

 

In my opinion, they've just bitten off more than they can chew.

 

What is this please?

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