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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella
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GenevaSaint

GenevaSaint

Posted
Posted (edited)
"'I sincerely hope supporters can get fully behind the team tonight against West Ham for what is a crucial match and generate that Fratton fortress atmosphere once again.'

 

The Premier League are expected to confirm the transfer embargo has been lifted in an official statement this afternoon........."

 

Some good news at last. Think we've got just a squeak of a chance of getting out of this mess. Also suspect that the 'Only 3 players available to sit on the bench tonight' story will quietly die now.....

 

PFC123, it's going to be funny as feck if you don't get 20k+ for this six pointer.

Edited by GenevaSaint
OldNick

OldNick

Posted
Posted

Like it felt we were bound to get Pompey in the cup, it seems inevitable they will come up smelling of roses.

They have used every delaying tactic in the book and seem to have slipped from the grasp of true justice again. Football has been damaged yet again.

pedg

pedg

Posted
Posted (edited)

I would hate to see Kaboul go but if the £10m from Sunderland story is a goer, I'd bite their hands off. £10m would get us out of the poo for a couple of months at least as long as we can negotiate staged payments to HMRC.....

 

As long as they can afford his wages. Think people often forget that both selling club, buying club AND THE PLAYER have to agree to a deal (c.f. Nugent wanting to stay on loan, ostensibly to keep his options open but also one would guess due to their wage cap). If some of these valuable players are on ridiculous salaries then they could take some persuading to move.

 

+ assuming all your outgoings I would say you need somewhere near 20M to keep you going till after the 10th Feb (HMRC, Wages, Remainder of loan to Portpin against TV money, Gady's £9M, £2M for watford, £1.7M for campbell, etc)

Edited by pedg
rallyboy

rallyboy

Posted
Posted

That's them all sorted then, time to close this thread, it's been fun, we must all meet up again in ten years and relive the hilarity.

 

 

 

 

But just before the mods lock it all down and put the cat out, there was another little niggling query....now what was it?....oh yes, do they have the £15M required to continue trading beyond this weekend yet?....

Fowllyd

Fowllyd

Posted
Posted
Like it felt we were bound to get Pompey in the cup, it seems inevitable they will come up smelling of roses.

They have used every delaying tactic in the book and seem to have slipped from the grasp of true justice again. Football has been damaged yet again.

 

I wouldn't be so sure about that, Nick. The transfer embargo represents no more than the tip of the cliché. They still have huge debts, a sh!thole of a ground (with a loan secured against it) and no training facilities of their own. They must surely be operating at a substantial loss and they don't own any of the land around their ground.

 

They'll get theirs.

Micky

Micky

Posted
Posted (edited)
Fair enough, still struggling to see how this will really help then

 

Exactly - lifting the embargo does what? It allows them back into the market place - it gives them back thier 'flexible friend' - it allows them to dig an even bigger hole of debt - it allows them to effectively trade beyond thier means once again - it allows them to give false hope to thier supporters.

 

Ok they could bring in loans and frees - but that still adds to the wage bill (you know the one that they have struggled to meet recently).

 

Perhaps the PL really have lifted it just to allow them to shoot themselves in the head.

Edited by Micky
INFLUENCED.COM

INFLUENCED.COM

Posted
Posted
Exactly - lifting the embargo does what? It allows them back into the market place - it gives them back thier 'flexible friend' - it allows them to dig an even bigger hole of debt - it allows them to effectively trade beyond thier means once again - it allows them to give false hope to thier supporters.

 

I would suggest, no different to any business whose financial difficulty is common knowledge, they will find it difficult to obtain credit

ribbo

ribbo

Posted
Posted

it'll be for them to offload players to bring in money and then replace those players with free's or loans, I should think the PL will keep a very close eye on how any transfers are handled and whats done with the money.

Pancake

Pancake

Posted
Posted
Exactly - lifting the embargo does what? It allows them back into the market place - it gives them back thier 'flexible friend' - it allows them to dig an even bigger hole of debt - it allows them to effectively trade beyond thier means once again - it allows them to give false hope to thier supporters.

 

Ok they could bring in loans and frees - but that still adds to the wage bill (you know the one that they have struggled to meet recently).

 

Perhaps the PL really have lifted it just to allow them to shoot themselves in the head.

 

Actually, the PL have done the correct thing here. Pompey cannt bring anyone in until they shift some players off the books - players wont come knowing the risk of not being paid and the club wont bring new faces in if there is a risk they cant pay them. Pompey can now sell players safe in the knowledge they are shifting big earners and then bring in worse players on smaller wages. this way, it delays the Administration until the club are well outside of the PLs remit.

Micky

Micky

Posted
Posted
I would suggest, no different to any business whose financial difficulty is common knowledge, they will find it difficult to obtain credit

 

Agree totally. The embargo was not designed to just protect Pompey - it was there to protect all other clubs as well. They (other clubs) will now tread carefully before trading with PFC, especially in a selling capacity.

 

Without further substantial investment - they are still in deep do do as far as I can see.

OldNick

OldNick

Posted
Posted
I wouldn't be so sure about that, Nick. The transfer embargo represents no more than the tip of the cliché. They still have huge debts, a sh!thole of a ground (with a loan secured against it) and no training facilities of their own. They must surely be operating at a substantial loss and they don't own any of the land around their ground.

 

They'll get theirs.

I feel that they constantly have avoided the drop and this is just more of the same.If they now forfeit paying their wages the Pl will look very foolish. Their desperation to keep the PL flag flying may cost them in thel ong run.

That will be funny

Pancake

Pancake

Posted
Posted
So they only get to sign players that are out of contract or frees?

 

No, they can sign anyone they want but Peter Storrie has said they will be looking to being in only frees or loans.

St Marco

St Marco

Posted
Posted
No, they can sign anyone they want but Peter Storrie has said they will be looking to being in only frees or loans.

 

Ah right as on that bbc link above they say

 

"The club has no outstanding transfer debts but will only be allowed to sign players on free transfers or on loan."

ottery st mary

ottery st mary

Posted
Posted

I get the feeling..Pompey will delay the staff/players wages from Friday til Monday and dependent on the return of 1.7 mil from PL or a down payment if there is any club buying a Pompey player.... Announcement on Fridays (Sunday) wages will be interesting.

 

PL covering their back... but putting the ball in Pompey court..

Pompey trying to off load James Wages...Nugent (refusal by Burnley to buy..loan only)

 

AND any other players they can off load...

mack rill

mack rill

Posted
Posted
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

 

Nicky boy Your trying to dress Crab up as Lobster;)

Instead of trying to hide behind a patriotic Vail Let me translate this post for you.

I nick;581475] being a true bonifide pony fiddling scumpter. Would *****in hate to see them dirty Skate bastards wriggle there way out of the shyt hole they have deservedly fell into using (allegedly) dirty moneys,:cool:

Clapham Saint

Clapham Saint

Posted
Posted
As long as they can afford his wages. Think people often forget that both selling club, buying club AND THE PLAYER have to agree to a deal (c.f. Nugent wanting to stay on loan, ostensibly to keep his options open but also one would guess due to their wage cap). If some of these valuable players are on ridiculous salaries then they could take some persuading to move.

 

+ assuming all your outgoings I would say you need somewhere near 20M to keep you going till after the 10th Feb (HMRC, Wages, Remainder of loan to Portpin against TV money, Gady's £9M, £2M for watford, £1.7M for campbell, etc)

 

Exactly.

 

The key point in the short term is which debts can they definately not postpone until the end of the season and so need to be covered by player sales in January.

 

My guess would be HMRC and Wages are priority 1.

 

If we assume (I've no idea) that gate receipts to the end of the season will cover, no salary overheads;

 

£7m needed to prevent the winding up petition

£3m per month needed to pay players and on-going PAYE NI etc. If we assume they need to get to the end of May thats another £15m.

 

Total so far £22m minimum.

 

If sol were to issue a winding up petition (would be so funny), portapin call in their debt this increases.

 

Given that other clubs know that you need to raise this as a minimum to get to the end of the season the fire sale is going to be epic.

Fowllyd

Fowllyd

Posted
Posted
I feel that they constantly have avoided the drop and this is just more of the same.If they now forfeit paying their wages the Pl will look very foolish. Their desperation to keep the PL flag flying may cost them in thel ong run.

That will be funny

 

I know what you mean - they do seem to have led a charmed life over the past few seasons. But they're still very deep in the poo, and the only way out that I can see would be a buyer with masses of money to fritter away. I'm sure that the PL know that full well and, if they were able, would keep the embargo in place. Or, as Pancake suggests above, the PL may simply be giving them time to get relegated before going into administration.

 

And there's still that pesky winding-up petition for them to defend as well. On which subject, I haven't heard anything about an appeal from PFC on last week's high court ruling...

Micky

Micky

Posted
Posted
I doubt any chairman of another team would trust Pompey with an installment deal with an impeding winding up order and past history.

 

Would you? Would you sell a multi-million pound commodity to a buyer whose credit history has been splashed all over the national press for the past 9 months and whose ownership, at best, is questionable. I wouldn't.

Fowllyd

Fowllyd

Posted
Posted
Ah right as on that bbc link above they say

 

"The club has no outstanding transfer debts but will only be allowed to sign players on free transfers or on loan."

 

I'd say Storrie's version is just what you'd expect - an attempt to put a nice gloss on things. The PL have said frees and loans only (and this is specifically mentioned in various reports); Storrie tries to make it sound like it's Pompey's decision to do this. Reminiscent of the "We asked the PL to give lots of the Sky money to clubs we owed fees to" nonsense, and about as credible.

krissyboy31

krissyboy31

Posted
Posted
Actually, the PL have done the correct thing here. Pompey cannt bring anyone in until they shift some players off the books - players wont come knowing the risk of not being paid and the club wont bring new faces in if there is a risk they cant pay them. Pompey can now sell players safe in the knowledge they are shifting big earners and then bring in worse players on smaller wages. this way, it delays the Administration until the club are well outside of the PLs remit.

 

I think you're right. If the PL didn't lift their embargo, there was a real possibility that P*rtsm*uth wouldn't have been able to fulfil their remaining fixtures. Now they can offload as many of their high earners as possible (whether they can sell them is debatable but loan, like we did Rasiak, or free transfer are other options) and replace them with loanees and frees that they can affectively afford to pay.

Um Bongo

Um Bongo

Posted
Posted
No, they can sign anyone they want but Peter Storrie has said they will be looking to being in only frees or loans.

 

Wrong, it's why the Transfer embargo has been lifted. They can only get Loan deals or free transfers - The Premier league are obviosuly still not happy with their money situation so have put on this 'condition' if you like.

pedg

pedg

Posted
Posted
If your a footballer, would you join bottom of the league pompey who have a history of not paying players on time?

 

only if paid in advance!

dubai_phil

dubai_phil

Posted
Posted

Chill guys, they were always going to keep limping on, the embargo was always going to be lifted. I really don't see what all the fuss is about.

 

This thread will keep us going until May.

 

Meanwhile, if anyone can tell me or Eric how to put a picture up on here using a web site that isn't banned by our ISP we got a sneaky picture of Al Faraj to share

ottery st mary

ottery st mary

Posted
Posted
When are the wages due Friday or Sunday?

 

I was under the impression that Sunday is due date...But announced from Pompey.. hopefully paid by Friday if not with a Lottery win on Monday....But we all know if the file ain't not right..in the bank ..all their savings will be temporarily gone fishin.:D

mack rill

mack rill

Posted
Posted
Are there any US Navy ships in Portsmouth harbour?

 

They would get quite an accurate strike on Fratton from such a close range I'd imagine.

 

:D lol have you ever been on an exercise with uncle Sam :tfrag::tfrag: i have

i would think TDD has as well ,,,,,Its not how accurate they are, its the amount the throw;)

Micky

Micky

Posted
Posted
:D lol have you ever been on an exercise with uncle Sam :tfrag::tfrag: i have

i would think TDD has as well ,,,,,Its not how accurate they are, its the amount the throw;)

 

Lets face it, half an ounce of semtex would do the job on FP - it don't take a nuclear strike to level a tin shack now, does it...! ;)

saintwarwick

saintwarwick

Posted
Posted
Would you? Would you sell a multi-million pound commodity to a buyer whose credit history has been splashed all over the national press for the past 9 months and whose ownership, at best, is questionable. I wouldn't.

 

Makes you wonder if they have paid experian to improve their credit rating

Saint Keith

Saint Keith

Posted
Posted

Originally Posted by pedg

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?

 

in which case he might as well wait 3 months and buy newcastle when they go back up

Joey-deacons-left-nut

Joey-deacons-left-nut

Posted
Posted
Chill guys, they were always going to keep limping on, the embargo was always going to be lifted. I really don't see what all the fuss is about.

 

This thread will keep us going until May.

 

Meanwhile, if anyone can tell me or Eric how to put a picture up on here using a web site that isn't banned by our ISP we got a sneaky picture of Al Faraj to share

 

Sign up to flickr.

OldNick

OldNick

Posted
Posted
Nicky boy Your trying to dress Crab up as Lobster;)

Instead of trying to hide behind a patriotic Vail Let me translate this post for you.

I nick;581475] being a true bonifide pony fiddling scumpter. Would *****in hate to see them dirty Skate bastards wriggle there way out of the shyt hole they have deservedly fell into using (allegedly) dirty moneys,:cool:

To a degree you are right, I deteste the fact that Pompey have had these people own the club and that includes Milan. I would be ashamed if my club was likely to be owned by a Gaddafi. No doubt i would lose my morals but I dont thin k i could feel the same about the club and would be embarrassed.

As for you lot wriggling out of it again, yes you are right i feel that justice shoudl be served and the dirty club you are have tarnished the name of English football too long. Jimmy Dickinson would turn in his grave.

Start again and let the true spirit of Pompey come forth, where the true value of being Hampshire people shine through again, not begging the worlds underclass to pull you out of a hole using their dirty money.

Thedelldays

Thedelldays

Posted
Posted
Not really....on our thread we are mainly sympathetic, on Poopeys they are laughing at CP's troubles.

fuk me...they just dont learn do they...

 

embargo lifted or not..they are still up sheet creek without a paddle

ottery st mary

ottery st mary

Posted
Posted
:D lol have you ever been on an exercise with uncle Sam :tfrag::tfrag: i have

i would think TDD has as well ,,,,,Its not how accurate they are, its the amount the throw;)

 

 

No more joint exercises with the yanks.....Somehow Gaydermak has sold our

few remaining ships and boats.....Except that big wooden one in Pompey docks....:tfrag:

 

You know the big wooden one that The Dell Days served on with Nelson and Hardy:rolleyes:

bridge too far

bridge too far

Posted
Posted
No more joint exercises with the yanks.....Somehow Gaydermak has sold our

few remaining ships and boats.....Except that big wooden one in Pompey docks....:tfrag:

 

You know the big wooden one that The Dell Days served on with Nelson and Hardy:rolleyes:

 

So it was TDD that said 'Kiss me Hardy' :shock:

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