Pompey Takeover Saga

[Dark Munster]

Q. Why would anyone want to spend £60m buying the skates, with no infrastructure, massive debts, a decrepit ground, land mortgaged to shady creditors, and bottom of the PL?

 

A. Because the FAPPT is a joke and, unlike the other 19 PL clubs, they are willing to sell to any sordid, morally corrupt crooks who have enough blood money (gun running, dictatorships, ...).

[Saint_clark]

He won't be a saviour if he does come in. He will be using them to launder money, same as Gaydamak.

Why would someone like that waste £60+ million right off the starting line? They'd need champions league football to make a profit and they would have to spend another £100million at least to get that.

[Matthew Le God]

MLG, you were planning that post for over an hour weren't you

And I saw it on FF, don't worry...

 

I think it works well to outline my point in its current state.

[Tom]

Ive been told tonight by my very good friend who is the camerman for PFC (hes not a fan) that 3 people are interested in investing in Pompey...... one of them being Colonel Gadaffi's son!

[hypochondriac]

Ive been told tonight by my very good friend who is the camerman for PFC (hes not a fan) that 3 people are interested in investing in Pompey...... one of them being Colonel Gadaffi's son!

 

Read the thread. Not saying it will happen butif it does I hope it happens next week with the transfer embargo still in place.

[Gigersaint]

He won't be a saviour if he does come in. He will be using them to launder money, same as Gaydamak.

Why would someone like that waste £60+ million right off the starting line? They'd need champions league football to make a profit and they would have to spend another £100million at least to get that.

 

Wouldn't Pompey also have put a stop to the continuing loan/sale of their players too if there was a deal close to being completed and the embargo lifted?

 

I notice that most of the rumour is stemming from The Mirror. Usually most of the rumours that have any kind of substance are in the Guardian, Telegraph, The Mail and as much as some hate... The Sun, and even then it's usually backed up with something more from SSN but even they are using The Mirror as a source for the story and not a leading one at that.

 

Just can't see this rumour to be true, it's almost too far fetched even for them after all that has happened so far.

[RedAndWhite91]

LOL! Gaddafi Jnr. Seriously! Can their pending doom get any more hilarious?

 

Course it can, and I can't wait.

[Torrent Of Abuse]

If only Osama wasn't too busy at the World Hide & Seek Championships.

[dubai_phil]

On the Gaddafi rumour.

 

As Nickh noted I was extremely careful in how I worded my comments yesterday.

 

There are very few people in the world who have the resources and the motivation to buy English Football clubs. Jnr IS an undoubted football nut with a lot of money. Again, that money has been good enough for Italian Football.

 

While the family name is clearly stained by association, compared to many in the PL Jnr's money and his name is a lot cleaner, so the Laundry type allegations will not work.

 

More damaging however will be the ability to call Jnr a wannabe. He wannabe an owner. He wannabe a manager, he wannabe a striker, he wannabe the only person who decides anything.

If you wish to explore angles to worry our few friends, then think of him as someone who makes Rupert look humble. Think of him taking training and insisting on playing up front in Carling Cup matches (not just testimonials). Think of the few having to tour Gaza to raise funds for lost causes.

They may get saved he has the money but they will become even bigger puppets on a string.

 

Oh, and he would pass the FAPP test with flying colours

 

Again, he has been looking at a LOT of clubs for a long time

[dubai_phil]

If only Osama wasn't too busy at the World Hide & Seek Championships.

 

His family as you will well know are one of the most successful and powerful business conglomerates in Saudi. They have contracts in all markets in all business verticals across the whole world. Construction, Telecoms, Defence, Oil & Gas.

 

They built the world's largest single building complex, capable of housing 36,000 people (ie one building holding the population of Salisbury)

 

http://images.google.com/imgres?imgurl=http://highriseconstruction.files.wordpress.com/2008/10/250px-abraj_al_bait_towers.jpg&imgrefurl=http://highriseconstruction.wordpress.com/2008/10/06/abraj-al-bait-mecca/&usg=__05BpC1xsY7ddRzWd7B7DpbGoSZg=&h=329&w=250&sz=28&hl=en&start=6&um=1&tbnid=dTZgSTxCaapBlM:&tbnh=119&tbnw=90&prev=/images%3Fq%3Dmecca%2Btowers%26hl%3Den%26rls%3Dcom.microsoft:en-gb:IE-SearchBox%26sa%3DX%26um%3D1

 

They are keen football fans and have investigated the benefits of expanding their investment portfolios into other areas.

 

They are also as you will recall good friends of Dubya and **** Cheney

[Saint in Paradise]

Phil, you are getting me worried now that Pompey might be saved and keep in the PL. :(

 

Also they might be able to keep their few good players and beat us in the Cup :(

[CB Saint]

If they are going to be saved, let it be by some local businessman consortium who have had to scrape together the purchase price and have little left to buy with. If they keep getting arab owners, it is only a matter of time before they snag one with serious money.

[Thedelldays]

Hmmmmm

 

if this does happen I won't feel silly for my posts on here. It has been funny

 

anyway, we shall see if the embargo gets lifted today

[dubai_phil]

Phil, you are getting me worried now that Pompey might be saved and keep in the PL. :(

 

Also they might be able to keep their few good players and beat us in the Cup :(

 

I have no idea if the rumours linking Jnr to the skates are true. Will dig around when the real world wakes up.

 

All I know is that of the names given so far as I said before he has been looking for some time.

 

As far as the rumours so far

 

Sheikh Mo. Definite public knowledge that he has interest in English Football Dubai "Inc" has a team who work on this - sponsor of Arsenal public bids for Liverpool and Charlton.

Was very active in the public domain on this last year. Driven for building a long term sustainable business that would have value add.

 

Since February when the economy turned, there is simply no way politically that Dubai inc could be seen investing money in foreign "brand building projects". While he has personal wealth, if you read the old articles you will see it was always an interest via Dubai Inc related organisations. With the debt and bond situation, buying a club now is so far off the radar - How much does Dubai Inc owe? - US$80 billion +++ so to allocate 100mil would cause a massive unrest amongst the creditors.

 

Rumour strength Stupid made up drivel

 

Jnr

 

Known to be interested in football, I recall he played for a Serie A team in a friendly in Tripoli once. Successful businessman. (All Arabic countries business is done on a relationship basis. The more important the people you know the more successful you wil be) That may seem an anathema to Brits but in reality it's just like the old school tie & the Civil Service.

 

He will have the money, he will have the motivation.

 

Rumour strength - he has been trying. Skates are one of the few clubs available now that West Ham have been sold to Sullivan and Gold. Could be some milage BUT it is also likely to be 2+2 making 5. Just because he fits those criteria somebody could have made the link up. Would have a REALLY REALLY big issue in talking to anybody from Israel about anything

 

Jnr DOES know his football, he will know the history and the mess. he will also know that for an extra 100 mil (peanuts) he could pick up half of Liverpool.

[Merovingian]

http://www.mirrorfootball.co.uk/news/Dictator-Gaddafi-s-son-in-talks-to-become-Portsmouth-owner-article300941.html

 

some of us knew about this one yesterday morning, although we were hoping this would not break until it was a done deal, as I said I believe it to be true, why would he buy a football club ? Because as Phil says - he loves football, heis president of the Lybian Football Association I believe, an ex semi-pro who wants a club. Why not us considering money is no object to him

[ST Randy]

http://www.mirrorfootball.co.uk/news/Dictator-Gaddafi-s-son-in-talks-to-become-Portsmouth-owner-article300941.html

 

some of us knew about this one yesterday morning, although we were hoping this would not break until it was a done deal, as I said I believe it to be true, why would he buy a football club ? Because as Phil says - he loves football, heis president of the Lybian Football Association I believe, an ex semi-pro who wants a club. Why not us considering money is no object to him

 

 

Interesting use of the word "could."

 

It could be right. It could be wrong. Unusual for a headline to be quite so unsure.

 

Dream on Pompey. Remember it is the hope that kills you.

[Merovingian]

lol - like I said ST Randy - most of us have already accepted that AFC Pompey is likely to happen, this makes no dofference whatsoever as we haveheard it all before. So until it happens it will remain paper talk and we all know how factual they are

[StD]

http://www.mirrorfootball.co.uk/news/Dictator-Gaddafi-s-son-in-talks-to-become-Portsmouth-owner-article300941.html

 

some of us knew about this one yesterday morning, although we were hoping this would not break until it was a done deal, as I said I believe it to be true, why would he buy a football club ? Because as Phil says - he loves football, heis president of the Lybian Football Association I believe, an ex semi-pro who wants a club. Why not us considering money is no object to him

 

He could buy you, but why would he? Plenty of other clubs with better infrastructure, and (no wind-up intended) a larger fan base. You could buy Newcastle for arguably less than it'll cost to sort out p*mpey.

[Merovingian]

agreed StD but why did Gaydamak buy us and why did Milan Mandaric, millionaires do odd things if you ask me. No football club these days is likely to make money

[Merovingian]

John Magnier is the supposed other interested party Storrie met last week, this one I do not believe

[View From The Top]

Just happens to be before the players are due to be paid. Nothing like deflecting attention, especially as an appeal is yet to be lodged against the winding up order.

 

Smoke and mirrors.

[StD]

I think the majority of owners don't go into football to make money, but there are clearly much better other options out there currently.

 

I'm expecting Hitler's son to gazump everyone any day soon.

[Atticus Finch of Maycomb]

Just happens to be before the players are due to be paid. Nothing like deflecting attention, especially as an appeal is yet to be lodged against the winding up order.

 

Smoke and mirrors.

 

We should get Detective Inspector Karl Skrzypiec on the case. I hear he's good.

[dronskisaint]

Well, Tottenham are interested in him at £10m, if only to get back some of what they are owed.

 

Yes - but the tw*t who is buying is the same tw*t who has overseen the financial demise of his four previous clubs.

 

Tottenham next for administration obviously

[Pancake]

agreed StD but why did Gaydamak buy us and why did Milan Mandaric, millionaires do odd things if you ask me. No football club these days is likely to make money

To clean some money, even if it means losing a lot in the long run.

To make a lot of money by buying a small Div 1 team and getting them into the Prem.

[Daren W]

On the Gaddafi rumour.

 

As Nickh noted I was extremely careful in how I worded my comments yesterday.

 

There are very few people in the world who have the resources and the motivation to buy English Football clubs. Jnr IS an undoubted football nut with a lot of money. Again, that money has been good enough for Italian Football.

 

While the family name is clearly stained by association, compared to many in the PL Jnr's money and his name is a lot cleaner, so the Laundry type allegations will not work.

 

More damaging however will be the ability to call Jnr a wannabe. He wannabe an owner. He wannabe a manager, he wannabe a striker, he wannabe the only person who decides anything.

If you wish to explore angles to worry our few friends, then think of him as someone who makes Rupert look humble. Think of him taking training and insisting on playing up front in Carling Cup matches (not just testimonials). Think of the few having to tour Gaza to raise funds for lost causes.

They may get saved he has the money but they will become even bigger puppets on a string.

 

Oh, and he would pass the FAPP test with flying colours

 

Again, he has been looking at a LOT of clubs for a long time

 

So from the son of an arms dealer to the son of the man behind Lockerbie...

You couldn't make it up...

Pompey shirt sales will take a dive (pardon the pun) north of the border...

[StuRomseySaint]

http://www.mirrorfootball.co.uk/news/Dictator-Gaddafi-s-son-in-talks-to-become-Portsmouth-owner-article300941.html

 

some of us knew about this one yesterday morning, although we were hoping this would not break until it was a done deal, as I said I believe it to be true, why would he buy a football club ? Because as Phil says - he loves football, heis president of the Lybian Football Association I believe, an ex semi-pro who wants a club. Why not us considering money is no object to him

 

Seriously mate, would you want that bloke running your football club?

 

Firstly, it's another Johny Foreigner who is worth a 'secret' amount of cash, secondly he is the son of one on the dodgiest dictators in the world.

 

And thirdly... let's be realistic, Portsmouth has absolutely no attraction to any investor, no decent stadium, a limited fanbase, no training facilities, average players on massive wages and lastly... bottom of the Premier League and to be honest, do not look like moving from there in a hurry.

 

I could name you 10 other clubs which would be more attractive to invest in than Portsmouth.

[INFLUENCED.COM]

He could buy you, but why would he? Plenty of other clubs with better infrastructure, and (no wind-up intended) a larger fan base.

 

But there is a "wind-up intended" for the 10th of Feb !!

[StuRomseySaint]

John Magnier is the supposed other interested party Storrie met last week, this one I do not believe

 

Magnier was part of the Irish consortium who wanted to buy Saints, along with McManus and some other horsey bloke, as well as Andrew Lloyd Webber... these were the 4 that originally Matt Le Tiss was heading... before they all backed out.

 

That's probably where that story come from.

 

But unfortunately for you, you have absolutely massive massive overheads and it is almost impossible to ever run a profit with your stadium etc.

 

Just to repeat again... nobody in their right mind is going to plump £90 million into a club which they could buy for a fraction of that in a few weeks. Pompey are almost certainly getting relegated so it would be in everyones best interests if they waited for that to happen.

[Merovingian]

Seriously mate, would you want that bloke running your football club?

 

Firstly, it's another Johny Foreigner who is worth a 'secret' amount of cash, secondly he is the son of one on the dodgiest dictators in the world.

 

And thirdly... let's be realistic, Portsmouth has absolutely no attraction to any investor, no decent stadium, a limited fanbase, no training facilities, average players on massive wages and lastly... bottom of the Premier League and to be honest, do not look like moving from there in a hurry.

 

I could name you 10 other clubs which would be more attractive to invest in than Portsmouth.

 

I cannot argue with most of that Stu and I cannot give a reason why he would be interested but apparently he is...

[StuRomseySaint]

I cannot argue with most of that Stu and I cannot give a reason why he would be interested but apparently he is...

 

I don't doubt he may be interested, but if he is I would say it will be after the administration plug has been pulled.

 

Having said that, if I was a P*mpey fan I would do everything in my power to stop yet another dodgy foreign crook taking over my club.

[pedg]

As I see it only 3 sorts of people try and buy premiership club (bar the one off for money laundering).

 

1) Rich long time fans. Buy it based on a long held dream.

 

2) Someone out to make a profit. As per the glazers, buy with a big loan, pay selves millions in fees while club slowly gets dragged down.

 

3) A Trophy club, as per Man C and Chelsea. Bought as a rich mans play thing.

 

If pompey had a rich enough fan you would have thought they would have made themselves known by now. The lack of anything of value to raise credit against and the poor credit rating that pompey must have makes 2 unlikely so I think the only real chance they have of surviving is 3 where the buyer will be well aware they are going to have to put in a lot of money that they will almost certainly not get back. In these cases unfortunately rational argument about what little (besides the debts) they would be getting have less force.

[Fowllyd]

This is today's Guardian bit on Pompey:

 

http://www.guardian.co.uk/football/2010/jan/25/portsmouth-transfer-embargo-sulley-muntari

 

In brief, the club claim to have reached an agreement with Udinese; PL lawyers are looking at it to see if it means the embargo can finally be lifted. PFA rep met Pompey players yesterday to discuss the club's instability. PFC yet to decide whether to appeal against High Court ruling on the winding-up petition (I think today's the last day they can appeal, but I'm not totally sure of that). Mention of players they may try to get if the embargo goes.

 

And that's about it, though there's a lot more detail in the full article. One name conspicuous by its absence is Gaddafi junior.

[Merovingian]

I don't doubt he may be interested, but if he is I would say it will be after the administration plug has been pulled.

 

Having said that, if I was a P*mpey fan I would do everything in my power to stop yet another dodgy foreign crook taking over my club.

 

admin might not be an option though if we get wound up first...

[OldNick]

No doubt Gaddafi 's son does not have the baggage of his father but should football not be ashamed that a person from this background may buy a British football club.Have we as a nation of football lovers lost our sense of what is right. i know it is easy for me to say 'I would not support a club with him as an owner' but Im fairly sure i would be ashamed.

I dont wish for Pompey to end but THIS?

Shame on football shame on all football lovers

[dubai_phil]

No doubt Gaddafi 's son does not have the baggage of his father but should football not be ashamed that a person from this background may buy a British football club.Have we as a nation of football lovers lost our sense of what is right. i know it is easy for me to say 'I would not support a club with him as an owner' but Im fairly sure i would be ashamed.

I dont wish for Pompey to end but THIS?

Shame on football shame on all football lovers

 

Legally the PL can do nothing about it.

 

Libya is now "OK" to do business with. (A political decision BTW)

 

Jnr is an established successful businessman. There seems to be little or no baggage attached to him apart from the family links. You could debate all you like as to whether he would have been successful if he was called Ahmed Smith, but he doesn't have the alleged "nasty smell" of dodgy deals that Thaksin seemed to have.

 

Having said ALL of that, morally, if it had been him with the ML plan and not Markus and we had no choice, it would have been a very tough call for us.

 

Personally politically, I think it would be the final straw for the PL and their rules would HAVE to be changed. Money talks but sooner or later the customers will walk.

 

But it wouldn't happen until after he took over (if he is even interested) so he'd still be up the road

[INFLUENCED.COM]

No doubt Gaddafi 's son does not have the baggage of his father but should football not be ashamed that a person from this background may buy a British football club

 

I appreciate where you are coming from Nick but if our Governments have no shame in association with Gaddafi, why should a struggling Football Club ?

[pedg]

More importantly how good a striker is he and will our defence be able to cope with him during the cup match? Checking his wikipedia entry he's not cup tied and as he will also probably be manager by then I see no reason why he would not play himself up front.

[StuRomseySaint]

More importantly how good a striker is he and will our defence be able to cope with him during the cup match? Checking his wikipedia entry he's not cup tied and as he will also probably be manager by then I see no reason why he would not play himself up front.

 

He played 2 games for 3 different clubs in 5 years, something a bit dodgy about that?

[Pancake]

My question to any reading Pompey fan is this:

 

Why would ANYONE (inc. Saadi Gaddafi) buy into PFC this week, taking on the debts and court cases etc, when he could wait 2-3 weeks and pick you up for a small percentage after administration?

[Doctoroncall]

My question to any reading Pompey fan is this:

 

Why would ANYONE (inc. Saadi Gaddafi) buy into PFC this week, taking on the debts and court cases etc, when he could wait 2-3 weeks and pick you up for a small percentage after administration?

 

Administration may not happen due to the winding up order leading to liquidation.

 

It maybe easier to buy the club as it is still functioning rather than deal with the individual creditors after the final decision on the 10th Feb.

[pedg]

My question to any reading Pompey fan is this:

 

Why would ANYONE (inc. Saadi Gaddafi) buy into PFC this week, taking on the debts and court cases etc, when he could wait 2-3 weeks and pick you up for a small percentage after administration?

 

Obviously not a portsmouth fan but I would guess because there is a real risk of liquidation and when that happens it may not be possible to bring the club back at its current level. Also if he is not worried about the money he can come in now with no administration penalty and they could possibly stay up. Wait till admin and it would be cheaper in the short term but if you are buying it as a status symbol you don't want one that will have to languish in the FL for a season.

 

The hidden kicker, as I have said before, is possibly the court cases as if any of those result in the PL docking the club points then it rather neglects the buy now to try and avoid relegation option.

Edited 26 January, 2010 by pedg

[rallyboy]

Gaddafi may struggle to raise the cash since his main investor was executed yesterday for genocide, he'll have to go back to the bucket collector's on the Falls Rd.

 

Arms dealers that supplied Angola, a family who funded the IRA and Lockerbie - where is Storrie looking for investors - at war crimes tribunals?

 

They bring shame on football.

[hutch]

So, it looks definate that the rumours about new owners at FP this week were true after all.

 

 

 

I just don't think that it was Sullivan, Gold and Brady they had in mind.

[StuRomseySaint]

Administration may not happen due to the winding up order leading to liquidation.

 

It maybe easier to buy the club as it is still functioning rather than deal with the individual creditors after the final decision on the 10th Feb.

 

It's my understanding that they can drop into administration anytime between now and the 10th.

 

Seriously though, unless they get someone with more money than sense ( contrary to what the skates think, he is not worth a massive about, certainly less than a billion ) who is willing to lose £100million just to clear their debts, then at least another £100million to secure them as a Premiership club, then another £100million if they want to achieve anything.

 

Now that is almost half of Gaddafi's reported fortune... so why on earth would he waste it on Pompey, and why would anyone else for that matter... regardless of it being Pompey, why would anyone invest their money in that?

 

For less money I could buy so many other clubs with so much more structure, assets and facilities, with a larger fanbase. Unless they are a mega-rich Pompey fan, there is just no attraction in buying Portsmouth, none at all.

[pedg]

I

Now that is almost half of Gaddafi's reported fortune... so why on earth would he waste it on Pompey, and why would anyone else for that matter... regardless of it being Pompey, why would anyone invest their money in that?

 

Possibly because he really really wants to own a premiership club and pompey are the only ones desperate enough to accept him as an owner?

[foghorn]

Isn't this the guy who paid Beyonce $1.2m to sing at his birthday party?

[Merovingian]

where have you heard the net worth then Stu just out of interest ? I can only find circa 8 Billion $

[Doctoroncall]

It's my understanding that they can drop into administration anytime between now and the 10th.

 

Seriously though, unless they get someone with more money than sense ( contrary to what the skates think, he is not worth a massive about, certainly less than a billion ) who is willing to lose £100million just to clear their debts, then at least another £100million to secure them as a Premiership club, then another £100million if they want to achieve anything.

 

Now that is almost half of Gaddafi's reported fortune... so why on earth would he waste it on Pompey, and why would anyone else for that matter... regardless of it being Pompey, why would anyone invest their money in that?

 

For less money I could buy so many other clubs with so much more structure, assets and facilities, with a larger fanbase. Unless they are a mega-rich Pompey fan, there is just no attraction in buying Portsmouth, none at all.

 

As pedg stated, admin would bring a points penalty and relegation adding more cost to what would be an expensive toy.

 

Maybe Gaddafi is mad enough (as well as mad about football) to take on a PL club, and one that is desperate for investment from any source.

[StuRomseySaint]

where have you heard the net worth then Stu just out of interest ? I can only find circa 8 Billion $

 

I did find it on Google, very slow work at day today but I can't find the link again!

 

The problem is with these Arabs, is that their fortune is always anyones guess, as you have found out with your last 2 jokers.

 

If I was a Pompey fan I would honestly honestly rather we start again than have yet another arab running us.

 

As for McManus... he made his fortunes making good business decisions... buying Portsmouth is financial suicide, as I am sure even you would admit, I just can't see it.