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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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hutch

hutch

Posted
Posted
Is the order now in the public domain? if not when will it be published so we know what the Few are cheating the next creditors for

Dunno, but I don't think so. We do Consent Orders when we settle out of court, but I don't think they are in the PD.

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hutch

hutch

Posted
Posted
And does it meet the stipulate FL takeover criteria...?

 

I'm certain it doesn't meet the PCC loan conditions. I'm also certain they will change the conditions to suit for the third time. But they only have 9 working days left. The clock is ticking.

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trousers

trousers

Posted
Posted
Dunno, but I don't think so. We do Consent Orders when we settle out of court, but I don't think they are in the PD.

 

One of the tweets from one of the reporters in the court room said that the content of the 'agreement' between BDO and Portpin should be made public. Not sure if that's the same document as a 'consent order'?

 

I'll dig out the original tweets which may clarify what the judge said.

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trousers

trousers

Posted
Posted

This is the only post I can find from the court case that mentions the 'no confidentiality' clause....

 

@pn_Emma_Judd: no confidentiality clause in the deal, so public should be able to read it all if they want when it goes on the register

 

Anyone know if this 'register' is available online anywhere?

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Saint_John

Saint_John

Posted
Posted
This is the only post I can find from the court case that mentions the 'no confidentiality' clause....

 

 

 

Anyone know if this 'register' is available online anywhere?

 

The only register I know of is BAILII but I don't know if "out of court" appear on there. ( refresh; select Chancery)

http://www.bailii.org/recent-decisions-ew.html

 

I've been checking it twice a day since the case but the last one added is the HSBC case (added 12th; hearing 9th)

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trousers

trousers

Posted
Posted (edited)

http://m.portsmouth.co.uk/sport/pompey/fa-ask-for-pompey-views-on-brentford-pitch-invasion-1-5001174

 

However, pitch encroachment is an offence and clubs can be fined.

 

Pompey feel they have mitigating circumstances which should be taken into account and are hopeful they can avoid punishment.

 

They will point to it being the end of an emotional week for fans, who saw the near-completion of a community bid.

 

In addition, it was Brentford’s responsibility for policing and stewarding as the home club.

 

:facepalm:

 

FFS, will they EVER take responsibility for their own actions rather than seek to blame someone else?

Edited by trousers
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Pugwash

Pugwash

Posted
Posted
Wise words, but will they heed them ??

 

http://www.bbc.co.uk/sport/0/football/22154064

 

"There has been many times when my firm, and the exemplary work Trevor Birch has done, where we felt the club were very close to going out of business."

"Had it not of been for the last-minute agreement then it probably would have done."

 

This from the Administrator. That says to me that they thought they would lose the court case.

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trousers

trousers

Posted
Posted (edited)
"There has been many times when my firm, and the exemplary work Trevor Birch has done, where we felt the club were very close to going out of business."

"Had it not of been for the last-minute agreement then it probably would have done."

 

This from the Administrator. That says to me that they thought they would lose the court case.

 

All of which makes Chainrai's apparent capitulation all the more odd...unless the "add on" were more valuable to him than liquidation...you know, those add ons that Birch and the Trust are so keen to publicise and that the media have been pressing for...

Edited by trousers
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pedg

pedg

Posted
Posted
I'm certain it doesn't meet the PCC loan conditions. I'm also certain they will change the conditions to suit for the third time. But they only have 9 working days left. The clock is ticking.

 

Could you clarify why you think this?

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hutch

hutch

Posted
Posted
Could you clarify why you think this?

Because yesterday while I was stuck on an aeroplane for a few hours I re-read the "progress report" that was presented to the Council when they softened the conditions last time. The one that has a blue progress statement at the end of each clause.

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trousers

trousers

Posted
Posted (edited)
http://fansonline.net/portsmouth/mb/view.php?id=493080 hmmmmmmmmmm questions, questions, questions. The loan from the property developer is news to me.

 

"The debts PFC have will be covered by the remianing Parachute payments so in ESSENCE we have NO DEBT that is not covered by GUARANTEE INCOMES."

 

Has anyone else lost count of how many different debts the parachute payments are supposedly covering? Of course, that's why parachute payments were invented in the first place...to pay for the debts of a club 3 years after they were relegated.... :facepalm:

 

 

Edited by trousers
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trousers

trousers

Posted
Posted (edited)
http://fansonline.net/portsmouth/mb/view.php?id=493080 hmmmmmmmmmm questions, questions, questions. The loan from the property developer is news to me.

 

I like the rumour of the £13k bar bill for last week's celebrations.... would be amusing if true...

 

And good to see anyone asking pertinent questions getting shot down in flames.... you'd have though "barryman" would be applauded for doing what they have accused the FA/FL of not doing with previous owners.... ASKING QUESTIONS!

Edited by trousers
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Pugwash

Pugwash

Posted
Posted
http://fansonline.net/portsmouth/mb/view.php?id=493080 hmmmmmmmmmm questions, questions, questions. The loan from the property developer is news to me.

 

Strange that 'the riddle' claims to be on the PST board but only talks about 'rumours' of the £350k repayments to Chanrai and his 'speculation' on debts. He is in a position to KNOW, yet can't give a definitive answer. Smacks of incompetence and not someone I'd want running a football club. Either that or the financial decisions are being made without the PDT's knowledge.

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trousers

trousers

Posted
Posted

http://www.portsmouth.co.uk/sport/pompey/whittingham-set-for-talks-over-pompey-manager-s-job-1-5001186

 

Guy Whittingham will today meet with leading members of the community bid as he takes a step closer to becoming Blues manager.

The Pompey Supporters’ Trust board and high-net-worth individuals are keen for Whittingham to take the role on a permanent basis after impressing as caretaker.

Representatives will sit down with him this afternoon to discuss how the club moves forwards.

However, no appointment can be made until the Trust’s acquisition of the club is sealed, potentially Friday.

 

There's that word again.... "potentially"... have they lost the rubber stamp or something...?

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Viking Warrior

Viking Warrior

Posted
Posted

Okay on a different Slant and after reading up on the Human Rights act and speaking to a social worker#

The FA would be in breach of the following articles

1.

Everyone’s right to life shall be protected by law. No one shall be deprived of his life intentionally save in the execution of a sentence of a court following his conviction of a crime for which this penalty is provided by law.

2. Everyone has the right to liberty and security of person. No one shall be deprived of his liberty save in the following cases and in accordance with a procedure prescribed by law:

3. No one shall be held guilty of any criminal offence on account of any act or omission which did not constitute a criminal offence under national or international law at the time when it was committed. Nor shall a heavier penalty be imposed than the one that was applicable at the time the criminal offence was committed. etc etc etc

 

So I believe that PFC or PST asit is now called . should be awarded 15 points each season for the next 5 years as compenstation to ensure their lively hood is protected, They should not be deducted points. The Club are Victims of HMRC and Co constant intimidation of Freedom of thought, conscience and Right to liberty and security. Sign up to the the points credit initiative for the poor down trodden skates.

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rallyboy

rallyboy

Posted
Posted

Any sign of the takeover detail being published yet?

That's the the trouble with transparency, you can't see it.

 

 

So was this pitch invasion the fault of the Brentford supporters, or the police?

I've seen both excuses, and I can't for the life of me think of anyone else to blame.

 

 

And I'm not sure that I buy the £13K bar bill story - sounds like yet another Portsea myth, and what sort of drinks are they serving at Fatpipes that could cost that much?

Has it turned into a cocktail bar and strip joint - or have they go all prawn sandwich on us?

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trousers

trousers

Posted
Posted (edited)

Missed this one from a few weeks ago... (although its still being promoted on Twitter today)

 

http://www.portsmouth.co.uk/news/music-festival-to-raise-pounds-for-pompey-1-4939343

 

A MUSIC festival with a football theme is to be held across Portsmouth this summer.

Called Play Up Pompey Music, the event aims to raise money for the Pompey Supporters’ Trust, which is looking to take over at Fratton Park after the club comes out of administration.

 

I'm confused.... in one breath you get fans saying "Don't worry, the parachute payments will bankroll us for the foreseeable future" and yet here you've got people organising events (tonight's fundraising game being another example) which will bring in peanuts in relative terms.

 

If they're financially sound and "ready to go" surely they don't need these tin rattling events anymore...?

Edited by trousers
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ringwood

ringwood

Posted
Posted

Lee Barnard likely to play tonight for Oldham?

 

be great for him to score the winner and consign the bestest to complete their tour of the lower leagues,

 

if so thats relegated before coming out of admin and has to increase the chances of -10 in L2 that along with PCC having a charge over Fatpipes which they just been to court to prove a charge is useless as security I wonder if PCC considered that when making the loan.

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trousers

trousers

Posted
Posted (edited)
Lee Barnard likely to play tonight for Oldham?

 

be great for him to score the winner and consign the bestest to complete their tour of the lower leagues,

 

if so thats relegated before coming out of admin and has to increase the chances of -10 in L2 that along with PCC having a charge over Fatpipes which they just been to court to prove a charge is useless as security I wonder if PCC considered that when making the loan.

 

This might be useful this evening :)

 

http://www.oldhamathletic.co.uk/mobile/SMS_Detail_Page.aspx

 

And squad news...

 

http://www.oldhamathletic.co.uk/news/article/20130416-squadyeovil-774595.aspx

 

Youngsters on standby

 

Youngsters Joe Cooper, Danny Gosset and Connor Hughes have been included in Latics' squad for tonight's home npower League One match against Yeovil Town.

 

They provide cover for Latics who are without the banned Jose Baxter and injured captain James Wesolowski.

 

It has been a week to remember for Cooper (pictured) and Gosset who have also been handed their first professional contracts.

 

Goalkeeper Alex Cisak has recovered from the shoulder injury which kept him out of Saturday's win at Bury and he replaces Liam Jacob in the squad.

 

Squad: Cisak, Brown, Grounds, M'voto, Tarkowski, Croft, Iwelumo, R Simpson, Montano, Bouzanis, M Smith, Byrne, Barnard, Millar, Reid, K Smith, Jacob, Winchester, Belezika, Mellor, Hughes, Cooper, Gosset.

 

Edited by trousers
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Jimmy_D

Jimmy_D

Posted
Posted
Any sign of the takeover detail being published yet?

That's the the trouble with transparency, you can't see it.

 

 

So was this pitch invasion the fault of the Brentford supporters, or the police?

I've seen both excuses, and I can't for the life of me think of anyone else to blame.

 

 

And I'm not sure that I buy the £13K bar bill story - sounds like yet another Portsea myth, and what sort of drinks are they serving at Fatpipes that could cost that much?

Has it turned into a cocktail bar and strip joint - or have they go all prawn sandwich on us?

 

:lol:

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andysstuff

andysstuff

Posted
Posted
http://fansonline.net/portsmouth/mb/view.php?id=493080 hmmmmmmmmmm questions, questions, questions. The loan from the property developer is news to me.

 

pfc123 Posted on 16/04/2013 12:31

PCC Loan £1.45m

Report Message | Email Message To A Friend | Reply To Message

 

Isn't it funny how quickly lifelong Pompey fan 'Barrymans' posts have ended up being reposted in the descent into mental illness that is now the 'Pompey takeover saga'?

 

What a coincidence!

 

Link: Dierdre Chambers- what a coincidence!

 

 

Hi guys :)

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trousers

trousers

Posted
Posted
pfc123 Posted on 16/04/2013 12:31

Isn't it funny how quickly lifelong Pompey fan 'Barrymans' posts have ended up being reposted in the descent into mental illness that is now the 'Pompey takeover saga'?

 

What a coincidence!

 

Oi! PFC123.....stop reading this thread every 5 minutes.....we're supposed to be the obsessed ones FFS... ;)

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pedg

pedg

Posted
Posted
pfc123 Posted on 16/04/2013 12:31

... ended up being reposted in the descent into mental illness that is now the 'Pompey takeover saga'?

 

There is only one descent going on here, though some might categorize it as a plummet as descent implies some degree of control.

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SaintRichmond

SaintRichmond

Posted
Posted
Lee Barnard likely to play tonight for Oldham?

 

be great for him to score the winner and consign the bestest to complete their tour of the lower leagues,

 

if so thats relegated before coming out of admin and has to increase the chances of -10 in L2 that along with PCC having a charge over Fatpipes which they just been to court to prove a charge is useless as security I wonder if PCC considered that when making the loan.

 

IMHO that will NOT happen

 

The FL will only apply the -10 THIS season, irrespective of whether they get enough points to stay up or not, which IMHO, is no punishment at all

 

I have always thought this, and will continue to do so, until such times as when the FL get some B&lls and treat their beloved Portsmouth in the same was as they did Luton, Bournemouth etc etc

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Gemmel

Gemmel

Posted
Posted

Too many unknowns to get any meaningful figures or factsfrom it, but this is a crude attempt tosee how the figures stack up;

Debts

Football player compromise agreements 8 million (As per pkf)

Football debts Unknown,but we know there is at least one following an article a month or so ago, wherethey referred to it

Kanu Settlement Unknown,but if old factless is right, an agreement has been reached which would be overand above the previous 8 million)

Administrator costs 2.5million (Never seen it confirmed as fact- but general consensus seems to be itwas capped at this total)

Charge on Fratton Park 3Million (Seems to be the figure bandied around)

Extra’s on Charge 350k(Seemsto be the consensus)

Floating Charge Whateverhappened to this J J - 2 million was thefigure quoted in court- Was this one of the extra’s

Legal costs of Admin Unknown(Over and above the court case) PKF used the lawyers from day 1

Pkf/pst Legal cost of Challenge Unknown

Chanrai’s legal fees Unknown

Hnw’s admin subsidy Tobe converted into equity

Property developer Loan Unknown(News to me, not sure if true, but skates seem to think it is)

Council Loan 1.5million

CVA 500k(Over 150 million pounds worth of debt- what a bargain)

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pedg

pedg

Posted
Posted
IMHO that will NOT happen

 

The FL will only apply the -10 THIS season, irrespective of whether they get enough points to stay up or not, which IMHO, is no punishment at all

 

I have always thought this, and will continue to do so, until such times as when the FL get some B&lls and treat their beloved Portsmouth in the same was as they did Luton, Bournemouth etc etc

 

I think you are putting too much emphasis on the FL statement about them getting the -10 this season. You have to remember at the time they came up with that statement it appeared that the takeover would be much earlier in the season so I very much doubt they even considered at the time what they would do if pompey came out of admin once they were already relegated. Yes there are no rules about what should happen in this situation but the nearest analogous situation is the penalty for going into admin and I would be very surprised if they did not follow the same thinking and carry over the -10 to next season.

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holepuncture

holepuncture

Posted
Posted
I think you are putting too much emphasis on the FL statement about them getting the -10 this season. You have to remember at the time they came up with that statement it appeared that the takeover would be much earlier in the season so I very much doubt they even considered at the time what they would do if pompey came out of admin once they were already relegated. Yes there are no rules about what should happen in this situation but the nearest analogous situation is the penalty for going into admin and I would be very surprised if they did not follow the same thinking and carry over the -10 to next season.

 

The sure the FL despair at the DCFSBs as much as the next nutjob, just think of all the embarressment, headaches and PR nightmares the cheats have caused them with their begging, bleating, cheating and threatening.

 

EG: The should count themselves lucky that they are not shouldering the blame for the fews pitch invasion on saturday... the police are getting the blame for those that invaded the pitch.

 

Now think for a moment just how ridiculous the FL will look if they deduct points off an already relegated team! The other FL member clubs will be furious for a start and thats before the press start to publically question their competence. The media will have a field day, it could even cost board members their jobs...

 

So get behind the lads (Oldham) and enjoy watching the skates get relegated without even kicking a competitive ball... all whist champagne mick and ian go on another pledge funded £13k-er binge, as they celebrate making a loss on their trust fundraiser.

 

-10 in L2

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Gemmel

Gemmel

Posted
Posted
Too many unknowns to get any meaningful figures or factsfrom it, but this is a crude attempt tosee how the figures stack up;

 

Debts

 

Football player compromise agreements 8 million (As per pkf)

Football debts Unknown,but we know there is at least one following an article a month or so ago, wherethey referred to it

Kanu Settlement Unknown,but if old factless is right, an agreement has been reached which would be overand above the previous 8 million)

Administrator costs 2.5million (Never seen it confirmed as fact- but general consensus seems to be itwas capped at this total)

Charge on Fratton Park 3Million (Seems to be the figure bandied around)

Extra’s on Charge 350k(Seemsto be the consensus)

Floating Charge Whateverhappened to this JJ - 2 million was thefigure quoted in court- Was this one of the extra’s

Legal costs of Admin Unknown(Over and above the court case) PKF used the lawyers from day 1

Pkf/pst Legal cost of Challenge Unknown

Chanrai’s legal fees Unknown

Hnw’s admin subsidy Tobe converted into equity

Property developer Loan Unknown(News to me, not sure if true, but skates seem to think it is)

Council Loan 1.5million

CVA 500k(Over 150 million pounds worth of debt- what a bargain)

 

Just to even it up (And I can't format my posts) The total of the figures we know, is 16 million quid, with 7 unknowns that could be relatively small or massively high. From memory the latest pledges amounts to 1.4 million, I think the hnw's have put 3 million in and 12 million PP (We always thought it was 8, but consensus is they get an additional 4 million from extra tv revenue), they will make around 2 million on season ticket sales (If they are allowed it all in one go) which totals 18. 5 million. Leaving 2 million to cover the 7 unknowns, building of a squad, wages from next week until the start of season etc etc etc. I think the gallows humour from the 2nd CVA meeting was "See you again in two years"................... Many a true word and all that

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