Pompey Takeover Saga

[Gemmel]

Well that's a nice little tit bit ahead of next weeks court case. I am not surprised he didn't get much as I am sure to date he hasn't seen a penny, but assuming "Not much" is 30% or there abouts, that's another 1 million on top of the 8 million of other compromised agreements to add to the pot.

[Ken Tone]

Why was this 'fact' never reported anywhere?

 

Exactly. And how much is 'much', or 'not much'? Given they haven't got a penny , any award to Kanu would be a problem.

[Saint86]

Have they gone pop yet? Can't be much longer left and it has to be more interesting than reading through Barry Sanchez's tripe on the "Breaking the top 7" thread

[Pugwash]

Neil Allen ‏@pn_neil_allen15h

So both The Sun and The Mirror duped by fake Kanu account. Fact is he took #Pompey to FL tribunal over disputed £3m. And didn’t get much!

 

Factless Allen in another "Here's another poor sap we've mugged off for £millions" shocker...

[eurosaint]

Have they gone pop yet? Can't be much longer left and it has to be more interesting than reading through Barry Sanchez's tripe on the "Breaking the top 7" thread

 

It's got to be more interesting than reading ANY of Barry Sanchez's threads (or even posts !)

[Saint Mikey]

Trousers. Any way you can stop posting #factless Allen's pic? Combined with the usual drivel contained in the tweet, it makes me want to find him and punch him in the face. C*nt. It's not conducive to the zen state of mind I'm trying to achieve...

[Frank's cousin]

Trousers. Any way you can stop posting #factless Allen's pic? Combined with the usual drivel contained in the tweet, it makes me want to find him and punch him in the face. C*nt. It's not conducive to the zen state of mind I'm trying to achieve...

 

 

... I cant compete with that, but it is worth pointing out that he seems to suggest that its a great victory for the cheats to once again have failed to pay someone what they are owed... Even if there is justification for a reduced amount, given how many players have now not been paid what theye were owed, I am struggling to see how anyone with an ounce of integrity can see this as a good thing... Players are over paid and can be excessively greedy, but if you agree to pay them those amounts in aneffort to find success, then surely the very last you do is pay for it? Or have I missed something?

 

Its this consistent and constant refusal to accept that any success they had has not been paid for and as such is pretty much forever soiled by the 'cheating' tag, that suggests either they are all stupid or lack integrity or both. Those few pompey fans who have acknowledged this, and I do know a few, have my sympathy... the rest can go do one.

 

What Allen has always failed to recognise is that as a pompey paper, they could do a huge amount to try and restore integrity and honour to their club by encouraging more of their fans to accept their gamble became an unfair competitve advantage and thus discredits any achievements... If the PST and more fans had that attitude, they would get my full support despite any local rivalry... but sadly teh majority seem too stupid to see it, encouraged by the local rag... pretty sad really.

[lifeintheslowlane]

I think you're all being totally unfair on Factless Allen and all at The Snooze. It's self defeating to feed the truth to the deluded...what you need to do to sell newspapers in the Portsea area is to feed the delusion and that's what they're doing.

 

By doing that Allen is proving himself to be the real "red under the bed". Allen is propagating the Myth...the Myth that will prove to be their continuing downfall...that they are bigger than they really are.

 

Hats off to you Agent Allen...it's all so clear now!

[Jonnyboy]

Didn't kanu the king win them the fa cup?

 

Even their legends don't get paid!

[Deeps]

Please see this link - dated today.

http://www.theinfostrides.com/index.php?topic=128976.0

 

So our esteemed reporter got his facts wrong so it appears.

Edited 4 April, 2013 by Deeps

[Pugwash]

Please see this link - dated today.

http://www.theinfostrides.com/index.php?topic=128976.0

 

So our esteemed reporter got his facts wrong so it appears.

 

So it would appear that Factless Allen was factually incorrect when he stated that King Kanu took the Cheats to an FL Tribunal for the £3m, when in fact he waived the money because the club was in trouble. Does that constitute lying, or just incompetent journalism?

[Crab Lungs]

The blokes a massive pr1ck. I'd love to meet him, I really would. He banned me when I politely questioned him on Twitter and since then (it's been almost 18 months now) I've had to read his drivel without any possible opportunity to reply to him. He's got to be one of the biggest bell-ends on the South Coast, let alone Portsmouth. I hate his sarcastic overtones and shameless trumpeting of "victories" against people they owe some serious money to. I hate the fact that he blames everyone else and doesn't subscribe to the fact they cheated and worst of all, I hate his inane, pathetic and factually baseless witterings about their brilliant support. If he was a bit tubbier, he'd be like that weasel on Demolition Man.

 

 

You're a c()nt, Allen, you're a c()nt.

[Weston Super Saint]

Please see this link - dated today.

http://www.theinfostrides.com/index.php?topic=128976.0

 

So our esteemed reporter got his facts wrong so it appears.

 

Not sure I agree...

 

I can now reveal the story that has been around since I left Portsmouth. I did not ask the club for millions of pounds, I dropped the whole matter of wage money because I know the club was in big problems.

.

“The reason I have not returned is because I feel it is time for me to hang my boots up as a player. I will be coaching and promoting my foundation through football.

 

 

I read that as being about the time that Kanu 'went missing' and didn't return over the summer for training. I also believe he is referring to 'future' wages following his disappearing act, which technically he wouldn't be entitled to anyway!

 

I don't read that as referring to his previous unpaid wages for which he is claiming via the tribunal.

[andysstuff]

Not sure I agree...

 

 

 

I read that as being about the time that Kanu 'went missing' and didn't return over the summer for training. I also believe he is referring to 'future' wages following his disappearing act, which technically he wouldn't be entitled to anyway!

 

I don't read that as referring to his previous unpaid wages for which he is claiming via the tribunal.

 

I think those comments have just been lifted from the questionable Twitter account word for word:

 

N****wo Kanu ‏@N****woK1976 1 Apr

 

My boot up as a player. I will be coaching and promote my foundation through football.

Expand

N****wo Kanu N****wo Kanu ‏@N****woK1976 1 Apr

 

Matter of wage money because i know the club was in big problems, the reason I have not return is because I feel it is time for me to hang

Expand

N****wo Kanu N****wo Kanu ‏@N****woK1976 1 Apr

 

I can now reveal the story that have been out round since I leave Portsmouth, I did not ask the club for million of pound, I drop the whole

Expand

 

Looks like all Journos are as sloppy as each other

[andysstuff]

I think those comments have just been lifted from the questionable Twitter account word for word:

 

N****wo Kanu ‏@N****woK1976 1 Apr

 

My boot up as a player. I will be coaching and promote my foundation through football.

Expand

N****wo Kanu N****wo Kanu ‏@N****woK1976 1 Apr

 

Matter of wage money because i know the club was in big problems, the reason I have not return is because I feel it is time for me to hang

Expand

N****wo Kanu N****wo Kanu ‏@N****woK1976 1 Apr

 

I can now reveal the story that have been out round since I leave Portsmouth, I did not ask the club for million of pound, I drop the whole

Expand

 

Looks like all Journos are as sloppy as each other

 

That said, Allen is still a sanctamonious little oik

[hutch]

I'm sure anybody who has time to go back through the thread will find that Kanu employed a barrister to fight his case, and that barrister went on the record with the claimed amounts.

[rallyboy]

experience tells us not to accept every local media story as fact, we've seen too many portsmyths announced as reality.

Let's not forget all the stuff about appealing the deduction and the European ban, the payments that had been made to charities etc - the local paper has the task of reporting all these absurd claims, which gives any story enough rope to hang itself as truth tends to prevail in the end.

 

I've seen no official statement that Kanu went to a tribunal and accepted any amount, his claim appears to have been lurking in the shadows unresolved.

Had it been settled it would no doubt have been declared as a glorious victory.

But if he has agreed something on the quiet it's likely to be on a par with the other heroes/villains deals which went from £24M to £8.5M.

That would leave him wanting £1M.

Which is approx next season's entire wagebill.

 

Either way the PDT has another big hole in their projections.

 

Talking of that, could the media PLEASE stop describing this current attempt by a property developer to take control of the club as a fan buyout?

It's a minor point but it does annoy me that the media, the few, and the rest of football is being sold a dodgy version of the facts.

It's a property dealer-led buyout, in partnership with a minority fan group and the local council.

 

If a housing project was attempted in this manner it wouldn't be described as The Residents' Estate, it would be a Barratt development with social housing.

 

Wake up few, you is being conned.

Again.

[Chopper71]

here we go....

 

http://www.portsmouth.co.uk/sport/pompey/banker-puts-in-bid-to-buy-fratton-park-from-portpin-1-4968855

[trousers]

here we go....

 

http://www.portsmouth.co.uk/sport/pompey/banker-puts-in-bid-to-buy-fratton-park-from-portpin-1-4968855

 

Mr Harris’ consortium has offered £6.3m for the ground in order to get it from PortpinPortsmouth Supporters Trust (PST) also wants to buy the club, in a community-funded takeover.

Ashley Brown, chairman of the PST, said that the Trust would invest between £3m and £5m into the club.

He said: ‘Keith Harris is supposed to be a football man but is making a bid only for the footballground, not the club. It just shows the bid up for what it is. It makes it clear that the PST bid for the football club is in the best interest of the fans and the club.

‘They need to get the football league to change their mind. At the moment they have said they won’t accept any other offers for the football club.

‘We have already exchanged contracts to buy the football club with the administrators.’

David Bick, spokesman for Mr Harris, said: ‘The firm offer of £6.3m was made about two or three weeks ago.

‘We know that Portpin are prepared to release their security with an offer at that level.

‘The issue is still with the administrators.

‘They are still saying that the football league’s position is to deal with the PST.

‘We don’t think that’s the position at all. But they appear determined at the moment to go ahead with this hearing next week.

‘They know they are sitting here with a firm offer from us which will make £750,000 available to the unsecured creditors, and a £6.3m bid for the stadium.

‘We appreciate that everybody wants to see Portpin away from this for good. On that basis, we decided to make an outright cash offer for the stadium.’

Mr Bick said that if the bid was accepted, there would be no further involvement by Portpin or Mr Chainrai.

He also confirmed that there was around £3m available to keep the club running if the takeover did go through.

‘We think there’s a big question mark with the PST bid,’ he said.

‘It’s one thing buying a club but they have to leave enough working capital to run the club afterwards.

‘Our fear is that they get the bid through and in a year’s time, they are in financial trouble. With Keith’s bid, it will ensure the financial survival of the club.’

A spokesman for BDO said: ‘We are continuing to prepare for next week’s court case.

‘Because of the situation we aren’t going to comment in any detail on this.’

 

...

[trousers]

Happy Birthday Pompey

 

http://www.portsmouthfc.co.uk/LatestNews/news/Happy-Birthday-Pompey-4279.aspx

 

Portsmouth Football Club have somehow reached their 115th birthday – and the grand old side could be just a week away from an exciting new dawn.

 

When John Brickwood, Alfred H Bone, John Wyatt Peters, William Wiggington, George Lewin Oliver and John Edward Pink met at 12 High Street on this day in 1898, little could they have envisaged the rollercoaster ride they would be setting in motion.

 

Nor that the five acres of agricultural land they brought close to Goldsmith Avenue for £4,950 would be at the centre of a court contest more than a century later.

 

In a week’s time, the latest saga will be far away from the club’s High Street, Portsmouthorigins and instead take place in the all too frequent venue of the High Court in London.

 

And if glorious history and the dignity of a beloved treasure mean anything, then sometime soon the club’s safekeeping will be looked after by the Pompey Supporters’ Trust.

 

Pompey have twice been champions of England (1948/49 and 1949/50) and twice lifted the FA Cup (1939 and 2008 ), while also tasting life in every division.

 

The rollercoaster has even offered ups and downs on the same weekend – only the Blues could suffer relegation from the Premier League one day and then reach the FA Cup final the next, as they did in 2010.

 

Pompey kept the cup safe through the entirety of World War Two following an unexpected 4-1 thrashing of favourites Wolves in 1939.

 

That was followed a decade later by back-to-back league championships in a period which elevated the Blues to become one of the finest teams in the country.

 

They had already experienced ultimately unsuccessful FA Cup final appearances in 1929 (v Bolton) and 1934 (v Manchester City).

 

Yet for a club who only gained Football League status in 1920 after years in the non-league game, these were statements of intent for what was to come.

 

But Pompey’s golden years were followed by a dip and a 32-year spell in the top-flight preceded a prolonged spell in the second division that was punctuated by a short stint in the third.

 

An even bigger plunge would follow in the mid-1970s when financial crisis hit Fratton Parkand by the end of the decade, the Blues found themselves in Division Four for the first time in their history.

 

It was only a late goal at Hartlepool in August 1978 that prevented Pompey from propping up the entire Football League.

 

But this was Pompey and 10 years later they were back in the big time, first clinching the Division Three championship and then reaching the top flight in 1987 after two excruciatingly close calls.

 

Their flirtation with the promised land was brief, lasting just one season before the Blues were back in a second tier that they were all too familiar with.

 

These were fairly mundane years, but there were still moments of excitement. An unexpected FA Cup semi-final tie with Liverpool ended with a cruel penalty shoot-out defeat in a Villa Parkreplay.

 

The following season saw Pompey miss out on promotion to the Premier League on goals scored, before falling to Leicester in the play-offs.

 

There was then drama off the pitch, with the Blues, having survived a financial scare in 1976, entering administration in 1998.

 

But the period that followed was the finest in the club’s history since their double title win. Pompey strolled to the Division One championship to reach the hallowed land of the Premier League.

 

The Blues would go on finish eighth in the top flight, beat Cardiff to lift the FA Cup for a second time and play in a major European competition for the first time in their history.

 

A second cup final followed when Pompey shocked Tottenham – managed by former boss Harry Redknapp – in 2010, although they eventually succumbed to Chelsea.

 

But, by this time, the dark clouds of uncertainty were circling Fratton Park once more and the club entered administration twice in the space of just two years.

 

So it is quite apt that the club could soon be back in the arms of the fans whose forefathers cradled it as an infant 115 years ago.

 

 

"the period that followed was the finest in the club’s history"

 

Yep, I'm sure those businesses, tax payers and charities owed c.£150m agree with that...

Edited 5 April, 2013 by trousers

[Gemmel]

Neil Allen ‏@pn_neil_allen19m

Harris bids £6.3m for Fratton. But, crucially, not the football club. This issue will be key in court case. #Pompey http://www.portsmouth.co.uk/sport/pompey/banker-puts-in-bid-to-buy-fratton-park-from-portpin-1-4968855 …

 

 

 

 

I See allen has turned into a lawyer. The value of the ground is what someone will pay for it, not the fact its is not for the football club

[Panda]

"Portpin is asking any group wishing to purchase the club to hand over around £9m for the ground.

 

But the PST says it is worth far less and has offered £3m for it."

 

Now let's see ... Portpin want £9m, there is an offer for £3m, so let's split the difference to get a reasonable price; that would be c£6m then? Well, that's good, there is someone willing to pay that. Problem solved (or is it?).

[FarehamRed]

So, can the Administrators sell the ground to Harris, sell the club to the PDT and leave Harris and the PDT to negotiate over the rent?

[stevegrant]

So, can the Administrators sell the ground to Harris, sell the club to the PDT and leave Harris and the PDT to negotiate over the rent?

They could, in theory, but the Football League have supposedly said they won't entertain any scenario where ownership of the ground is separated from the football club.

[hutch]

and PDT have said they won't buy the club without FP. Not sure why really if they are just a group of fans with the club's best interests at heart.

[Clapham Saint]

So, can the Administrators sell the ground to Harris, sell the club to the PDT and leave Harris and the PDT to negotiate over the rent?

 

Yes, but are the PDT prepared to buy the club without the ground?

 

 

As an aside, Factless Allen keeps posting about what would be best for the club... All well and good however (using numbers which I have dragged from the back of my memory but haven't checked):

 

 

PDT bid

 

Fixed chargeholder gets £3m (less costs) from the sale of FP

 

Unsecured creditors get £0.5m (less costs) from the new CVA (figure dragged from my distant memory)

 

 

Harris bid

 

Fixed chargeholder gets £5.55m (less costs) from sale of FP (calcualted as £6.3m less £0.75m below)

 

Unsecured creditors get £0.75m (less costs) as stated in Factless' article (not sure how this has been calculated)

 

 

It seems dificult to see how the PDT bid is in the best interest of CREDITORS.

 

 

To take Factless' logic the best way to deal with any company that ever fails would be to simply give all of the business and assets to a new co for £1 allowing it to start from scratch with all of the assets but no liabilities, whilst creditors are left p 1 ssing in the wind.

[hutch]

...and then repeat every two years.

[Gemmel]

Wouldn't it be funny if all the businesses that have been shafted in the past (Would be a book, not a programme) placed their ads and then never paid.

 

Buy your place in history and help raise funds for PST

The Pompey Supporters' Trust is asking local businesses to support a special souvenir programme being produced for the fundraising friendly against Hermann Hreidarsson's IBV team.

 

The match takes place on Tuesday April 16 (7.45pm kick off) and all proceeds from this match, after expenses, will go towards purchasing a community share, to be held by PST, in the club to support our bid.

 

PST is offering businesses the opportunity to buy advertising in the official souvenir match programme, which will be sold for just £1 on the night.

 

'We are looking to make this something every Pompey fan will want to buy as a keepsake, alongside their match ticket, to say "I own my little piece of Pompey",' said PST spokesperson Colin Farmery who is coordinating the production of the programme for the Trust.

 

'We would like local businesses to support the programme by buying advertising space from as little as £100. We have already had a good response, but we still have some slots available,' he added.

 

The package is as follows:

 

Official Programme - This 24-page collectors' edition (page dimensions 165x235mm) is expected to sell out fast and will have a print run of in excess of 2000.

 

- Full page advert in the match programme - £650 (including two places at the pre-match hospitality event)

- Half Page advert in the match programme - £325

- Quarter page advert in the match programme - £175

- Eighth page advert in the match programme - £100

- Team-line up sponsor (back page) - £250

- Visitor pages sponsor (three pages) - £250

- Hermann Hreidarsson Interview sponsor (two pages) - £250

 

To book your space in this souvenir programme contact Brian Seeney at Media 3 (023 9235 1920 or 07836 788122 brian.seeney@media3.co.uk ) Media 3 are officially authorised to sell this advertising by the Pompey Supporters’ Trust and are donating their usual commission fees to the Trust

 

In addition, PST is selling an informal dress match hospitality package priced at £30 per person or £300 for a table of ten. The package includes: a two-course buffet dinner, match ticket in the South Stand Executive Seating Area and a complimentary programme. To book individual tickets or a whole table call 02392 778555, however places are now very limited so hurry.

[Lambert1979]

Wouldn't it be funny if all the businesses that have been shafted in the past (Would be a book, not a programme) placed their ads and then never paid.

 

Buy your place in history and help raise funds for PST

The Pompey Supporters' Trust is asking local businesses to support a special souvenir programme being produced for the fundraising friendly against Hermann Hreidarsson's IBV team.

 

The match takes place on Tuesday April 16 (7.45pm kick off) and all proceeds from this match, after expenses, will go towards purchasing a community share, to be held by PST, in the club to support our bid.

 

PST is offering businesses the opportunity to buy advertising in the official souvenir match programme, which will be sold for just £1 on the night.

 

'We are looking to make this something every Pompey fan will want to buy as a keepsake, alongside their match ticket, to say "I own my little piece of Pompey",' said PST spokesperson Colin Farmery who is coordinating the production of the programme for the Trust.

 

'We would like local businesses to support the programme by buying advertising space from as little as £100. We have already had a good response, but we still have some slots available,' he added.

 

The package is as follows:

 

Official Programme - This 24-page collectors' edition (page dimensions 165x235mm) is expected to sell out fast and will have a print run of in excess of 2000.

 

- Full page advert in the match programme - £650 (including two places at the pre-match hospitality event)

- Half Page advert in the match programme - £325

- Quarter page advert in the match programme - £175

- Eighth page advert in the match programme - £100

- Team-line up sponsor (back page) - £250

- Visitor pages sponsor (three pages) - £250

- Hermann Hreidarsson Interview sponsor (two pages) - £250

 

To book your space in this souvenir programme contact Brian Seeney at Media 3 (023 9235 1920 or 07836 788122 brian.seeney@media3.co.uk ) Media 3 are officially authorised to sell this advertising by the Pompey Supporters’ Trust and are donating their usual commission fees to the Trust

 

In addition, PST is selling an informal dress match hospitality package priced at £30 per person or £300 for a table of ten. The package includes: a two-course buffet dinner, match ticket in the South Stand Executive Seating Area and a complimentary programme. To book individual tickets or a whole table call 02392 778555, however places are now very limited so hurry.

 

"Quick fellas, if we get a table of ten we only pay £300 - it's £30 each otherwise....."

[SaintBobby]

Shld we club together to place an advert with text taking the p1ss?

 

Sure, they get £100 or so, but the advert could point out this is only 0.00000001% of what they owe local creditors....

[St Chalet]

They could, in theory, but the Football League have supposedly said they won't entertain any scenario where ownership of the ground is separated from the football club.

 

Will be interesting to see how the Coventry issue pans out.

[Clapham Saint]

Shld we club together to place an advert with text taking the p1ss?

 

Sure, they get £100 or so, but the advert could point out this is only 0.00000001% of what they owe local creditors....

 

 

Take out the ad but only pay £2 for it.

 

 

 

 

Over 5 years

 

 

 

 

Less costs

[holepuncture]

Will be interesting to see how the Coventry issue pans out.

 

Indeed... the Coventry scenario plays in to the good man Chinnys masterplan perfectly.

[trousers]

http://hallrightnow.blogspot.co.uk/2013/04/the-harris-bid-risks-liquidating-pompey.html

 

The Harris bid has now plumbed the very depths of futility, and poses a real risk to the future of Portsmouth Football Club.

 

Lets deal with the inaccuracies of their statement first:

 

Their quoted offer of £750k to unsecured creditors is less than the Trust's offer to unsecured creditors. That surely means it would require a new CVA to be voted for. Pompey must be out of administration before the last game of the season. That is totally unachievable in the timescale. However, maybe this forms part of their latest claimed deal with Portpin and Portpin have agreed to forego £100k of their own unsecured debt. (Bear in mind that it is highly possible that the majority of the unsecured creditors actually wind up being Portpin, as they are also the unsecured creditor of CSI's £10m debt, prop A Androinkou).

 

The egregious Bick also said:

 

‘We think there’s a big question mark with the PST bid,’ he said.‘It’s one thing buying a club but they have to leave enough working capital to run the club afterwards.‘Our fear is that they get the bid through and in a year’s time, they are in financial trouble. With Keith’s bid, it will ensure the financial survival of the club.’

 

Bick then claimed that the Harris bid have £3m of working capital to keep the club running.

Now the Trust have £3m working capital to put into the club, donated directly from fans. It is in escrow. The amount rises all the time - is the Harris bids money in escrow? Bick didn't explain how their £3m would be enough while ours isn't.

 

The most glaring problem with it though lies in this quote:

‘They are still saying that the football league’s position is to deal with the PST.‘We don’t think that’s the position at all. But they appear determined at the moment to go ahead with this hearing next week."

 

Their offer rests purely on scuppering the Trusts bid by helping Portpin win their court case, and then hoping the Football League will change their minds. Well, the Football League have confirmed FOUR times that they will not be considering any other bid than the PST bid. If the Football, League didn't really mean it, why did they instruct their lawyers to write to Portsmouth City Council weeks ago saying "there is only one commercially viable bid which is Pompey Supporters Trust"? If there wasn't time to consider new bids two months ago why would there now be enough time when there are just two weeks left for the club to exit administration?

 

When I've spoken to David Bick he repeatedly claimed that the Trust did not have the money to do the deal, that the council would not come through with their loan, that the Trust was seeking emergency bridging finance to do the deal and had only £1.2m in funds. That Stuart Robinson would not and had not come up with the money to buy the surrounding land.

 

NONE, count them, NONE of those claims were correct. Not only were those claims made to journalists - I know because they rang me and quizzed me about them - but also the Harris camp claimed that the Football League would approve their bid by the end of the week in which it was first submitted. Did that happen? No.

 

Their bid cannot succeed because the Football League have said to BDO that it is Trust or Bust. If the Trust don't succeed, Harris will not be braving the near universal wrath of Pompey fans and taking over - because the club will be liquidated the following day. BDO, (PKF), the court appointed administrator, will report back to the court that it is the Trusts deal or liquidation.

 

I told David Bick right from the outset that the Harris bid could not succeed, it could only make liquidation more likely. Make no mistake, without the Harris bid, Portpin have no case. With it, they have a tiny chance. If Keith Harris cares about Pompey he can immediately secure the clubs future by withdrawing his bid. He cannot own Pompey, he can only destroy it.

 

And there was us pondering yesterday that it had all gone a bit quiet...

[Ken Tone]

They could, in theory, but the Football League have supposedly said they won't entertain any scenario where ownership of the ground is separated from the football club.

 

 

Yes but so what? The club could then either fold or apply to non-league. It's not PKF's main job to keep them in the FL, if the alternative is better for the creditors.

[Torres]

In addition, PST is selling an informal dress match hospitality package priced at £30 per person or £300 for a table of ten. The package includes: a two-course buffet dinner, match ticket in the South Stand Executive Seating Area and a complimentary programme. To book individual tickets or a whole table call 02392 778555, however places are now very limited so hurry.[/color]

 

Is that 1 ticket to share between the table?

[trousers]

"Quick fellas, if we get a table of ten we only pay £300 - it's £30 each otherwise....."

 

[trousers]

Porthos The Enforcer ‏@davesargent10m

@blueballoo2000 hi Mike, how is the legal case going? Not been on the grid much lately

 

Micah Hall ‏@blueballoo200040s

@davesargent can't say too much mate, but not losing any sleep over it;-)

[stevegrant]

Yes but so what? The club could then either fold or apply to non-league. It's not PKF's main job to keep them in the FL, if the alternative is better for the creditors.

Fully aware of that, but the trust have made it pretty clear that they're not interested in non-league, it's now League Two with them owning the ground or nothing.

[hypochondriac]

Yes but so what? The club could then either fold or apply to non-league. It's not PKF's main job to keep them in the FL, if the alternative is better for the creditors.

 

Yes but if they are not a club then they will not receive the last of the parachute payments.

[Ken Tone]

Yes but if they are not a club then they will not receive the last of the parachute payments.

 

Fair point, and that would lose money for the football creditors.

 

 

Ah well, isn't the whole situation such a shame!

[rallyboy]

Sickbag alert.

So it is quite apt that the club could soon be back in the arms of the fans whose forefathers cradled it as an infant 115 years ago?

 

A solitary tear runs down a small but plucky child's rosy cheek, but with your cash that salty droplet of despair could swell into a mighty river of hope...etc....insert puking noise.

 

 

Anyway, NO club would mean NO parachute payments.

But if that was the case they wouldn't be needed, as the whole PP, and more, will just go to football creditors - and if you don't need to have a Golden Share, the football creditors can whistle.

 

So the club is nothing more than a vehicle to pay football debt at the moment, the Trust masterplan is to divert/borrow those payments as they pass through the club and delay clearing debt until 'something comes up', or they can quietly write it off.

 

There seems little point in carrying on - am I the only one who is just starting to wonder whether the figures actually stack up?

[Weston Super Saint]

Sickbag alert.

So it is quite apt that the club could soon be back in the arms of the fans whose forefathers cradled it as an infant 115 years ago?

 

Surely that's a different club they are harping on about?

 

THIS club has only been in existence for 2 or so years.

[trousers]

Surely that's a different club they are harping on about?

 

THIS club has only been in existence for 2 or so years.

 

Come on, you know the rules:

 

Bad stuff = all in the past, airbrushed out of history, swept under the carpet, nothing whatsoever to do with current club

 

Good stuff = never forgotten, underpins future glories, repeated ad nauseum

Edited 5 April, 2013 by trousers

[Ohio Saint]

Sickbag alert.

So it is quite apt that the club could soon be back in the arms of the fans whose forefathers cradled it as an infant 115 years ago?

 

A solitary tear runs down a small but plucky child's rosy cheek, but with your cash that salty droplet of despair could swell into a mighty river of hope...etc....insert puking noise.

 

 

Anyway, NO club would mean NO parachute payments.

But if that was the case they wouldn't be needed, as the whole PP, and more, will just go to football creditors - and if you don't need to have a Golden Share, the football creditors can whistle.

 

So the club is nothing more than a vehicle to pay football debt at the moment, the Trust masterplan is to divert/borrow those payments as they pass through the club and delay clearing debt until 'something comes up', or they can quietly write it off.

 

There seems little point in carrying on - am I the only one who is just starting to wonder whether the figures actually stack up?

 

Oh, just give it a rest, Rallyboy. You are the least humourous and least respected person in this thread. Nobody likes your attempts at humour, and we all despise your ridicule of that once great club down the road.

 

I'm practicing my Factless Allen aproach to posting. Is it working? I hope I managed to avoid any element of truth in my above post.

[Dr Who?]

They will stay up, I just know it.

[rallyboy]

They'll need a fricking Tardis and twenty more points to pull off that stunt!

 

Wait for this bombshell.....they will be in League Two next season - if they are lucky!

[Torres]

Their quoted offer of £750k to unsecured creditors is less than the Trust's offer to unsecured creditors. That surely means it would require a new CVA to be voted for.

 

Given that the creditors originally accepted £500k Mikey, I don't see why

[Fowllyd]

How exactly does this wannabe journo reconcile the two parts of his own sentence?

 

The Harris bid has now plumbed the very depths of futility, and poses a real risk to the future of Portsmouth Football Club.

 

If the Harris bid is futile, how can it possibly pose a risk (sic - he means threat there and not risk, but I'll let that pass) to anything? It may be a minor point, but if he wants to be taken seriously, as he clearly does, then he does himself no favours with his style of writing, betraying as it does a preference for florid phrases over well-constructed argument. Given the inaccuracies in the arguments he does put forward (have the Trust really raised £3M? Is this sum really held in escrow?) I suppose this shouldn't be too surprising.

[georgeweahscousin]

Some Pompey lulz this morning....

 

 

Also worth checking the tweets of @luke_carden he is upsetting his fellow few with his anti-trust views!