Pompey Takeover Saga

[hutch]

I think Sol would have to go to Court first and get a judgement that they do owe him the money first. That won't happen anytime soon.

[pedg]

Cartoon in todays Times.

 

Group of men, various clothing and headgear, sitting around table not playing the ticking game "pass the bomb" or the young childrens version "pass the potato", playing "pass the pompey", who is left holding the club when it explodes!!

 

Talking of the Times an interesting read: http://www.timesonline.co.uk/tol/sport/football/premier_league/portsmouth/article7015810.ece

 

The paperwork and courtroom battles are not over, though. Chainrai still must pass the Premier League’s newly modified and more stringent fit and proper person test, although it seems hard to believe that he will not be able to rise above the cast list of bizarre characters and clandestine dealings that have more plotlines than an episode of EastEnders.

Peter Storrie, the chief executive, is facing accusations of tax evasion; Avram Grant, the manager, is reportedly facing questions as a witness by police investigating a “massage parlour” he visited in December; Harry Redknapp, the former manager, is facing charges for tax fraud; Milan Mandaric, a former owner, is facing tax evasion charges; Daniel Azougy, a key adviser to al-Faraj, is a convicted fraudster, while al-Faraj, the billionaire saviour that never was, did not once turn up at Fratton Park to see the team he owned. And Portsmouth are bottom of the Barclays Premier League with little hope of salvation from relegation.

[CHAPEL END CHARLIE]

Can I just take a moment and step back from the gloriously funny detail of this unfolding story and offer my personal vote of thanks to the fans , players , management , and above all the many owners of Portsmouth Football Club for the months of free entertainment they have so selflessly offered up to Saints fans everywhere .

 

The magnificently venal greed so openly displayed , the sheer farcical incompetence exhibited by all concerned shows such a spirit of generosity towards us that I can hardly express how deeply grateful we truly are . The really great part is that hilarious as your season has been so far , I strongly suspect that the best is yet to come - outstanding !

 

 

Part of me thinks we should try our Leon best to lose the forthcoming cup tie in a vain effort to repay you , it's the only decent thing to do really .

[warsash saint]

http://www.timesonline.co.uk/tol/sport/football/premier_league/portsmouth/article7015810.ece

 

Peter Storrie, the chief executive, is facing accusations of tax evasion; Avram Grant, the manager, is reportedly facing questions as a witness by police investigating a “massage parlour” he visited in December; Harry Redknapp, the former manager, is facing charges for tax fraud; Milan Mandaric, a former owner, is facing tax evasion charges; Daniel Azougy, a key adviser to al-Faraj, is a convicted fraudster, while al-Faraj, the billionaire saviour that never was, did not once turn up at Fratton Park to see the team he owned. And Portsmouth are bottom of the Barclays Premier League with little hope of salvation from relegation.

 

 

You just couldn't make it up :p

 

What a joke club !

[Pancake]

Im actually starting to feel sorry for the average normal Pompey fan out there as they are watching the club they love get gang raped by a load of bent Irsaeli, Arab and other business men.

[Ex Ringwood Saint]

http://www.timesonline.co.uk/tol/sport/football/premier_league/portsmouth/article7015876.ece

 

Might of been posted already but Grants wifes comments are great !!!

[Channon's Sideburns]

Im actually starting to feel sorry for the average normal Pompey fan out there as they are watching the club they love get gang raped by a load of bent Irsaeli, Arab and other business men.

 

I pity the fact that some of them think this guy is going to save them.

 

Do you know what? If they came out and, as a unit instead of 15 or so message boards, denounced Storryteller as the architect of their demise, then I would feel more for them.

 

I know some Poopey fans and they are intelligent people who have known for eons that Storyteller can't be trusted.

 

It's those I feel sorry for, not those who think he's some kind of genius. Well, he is a genius, just not in the way they think......

 

Wake Up Pompey...wake up.

[EastleighSoulBoy]

Talking of the Times an interesting read: http://www.timesonline.co.uk/tol/sport/football/premier_league/portsmouth/article7015810.ece

The paperwork and courtroom battles are not over, though. Chainrai still must pass the Premier League’s newly modified and more stringent fit and proper person test, although it seems hard to believe that he will not be able to rise above the cast list of bizarre characters and clandestine dealings that have more plotlines than an episode of EastEnders.

Peter Storrie, the chief executive, is facing accusations of tax evasion; Avram Grant, the manager, is reportedly facing questions as a witness by police investigating a “massage parlour” he visited in December; Harry Redknapp, the former manager, is facing charges for tax fraud; Milan Mandaric, a former owner, is facing tax evasion charges; Daniel Azougy, a key adviser to al-Faraj, is a convicted fraudster, while al-Faraj, the billionaire saviour that never was, did not once turn up at Fratton Park to see the team he owned. And Portsmouth are bottom of the Barclays Premier League with little hope of salvation from relegation.

 

Don't you just love it when a plan falls apart.

[rallyboy]

interesting slip by Jacobs on that South Today piece when he said that Gaydamak senior used to be the owner, then corrected himself. Whoops.

 

And nice to see that someone has obviously read all the detail on this thread and then gone and put that proper report together, I hope the Prem and HMRC have viewed it and are now up to speed on the obvious criminality that has surrounded the business.

 

If you want to know how Pompey fell apart there is only one thread to read.

 

I think four Pompey stories in the Sun was enough yesterday - brothel, debts, Chav Botaeng and one other....oh yeah, another defeat.

This is a golden era - and still it goes on!

[rooney]

Not really worse as this has been known about for a while. What is surprising is that more people have not jumped on board the WUO.

 

 

I think Sol Cambell has, for his image rights etc. but cannot understand the link between the Shop and the Club unless it is a retail outlet for their merchandise. I believe it is illegal under the Companies Act to give such a guarantee unless it is to a subsidiary and there is a commercial relationship. A similar position arises if Portsmouth City Football Club Ltd lent money to a Director.

[PES]

True PES...to an extent.

 

What about the Poopey fan going on a worthless trip to the Prem League today then?

Not worthless, how is it worthless MS? These fans are trying to gather support, not saying anything will come of it, but how can it be worthless?

 

They're delusional - one was saying on Solent earlier that 'they were the first fans delegation let in'.....no sh1t sherlock...

 

I think it shows the Premier Leagues concern, even if it is due to the embarasment factor.

 

That's a bad thing FFS...not a badge to wear on the Jobsh1te shirt.

 

They're on the radio giving it large about how great they are to get an audience as if they're seeing the Pope.

 

As the first 'Fans' group given an audience it is at least an event.

 

IT'S BECAUSE YOUR CLUB IS AN EMBARASSMENT TO THE PREMIER LEAGUE AND TO FOOTBALL - can some of your fans not see that?

Yes it is and most fans do. However our concern is for our club and you will find that the genuine fans will fight for it however much they 'embarases' themselves or however much 'embarassment' is heaped upon them, actually even as I type, i'm aware I don't actually feel 'embarassed', kind of proud actually, of the fight to survive shown by fans in public and behind closed doors, some on here might not understand that.

 

The Prem want to pacify your lot, ensure you get to the end of the season, get relegated without more bad press for the PL, then disappear into Admin then...because...

 

You will no longer be 'their' problem.

Absolutely correct, I'd say even more reason to meet face to face then!

 

That is...if you get past the HMRC. Which, if there is still any justice in the world, you won't.

 

Well JUSTICE would mean the Taxman gets whats due. As long as this happens, even with staged payments, JUSTICE will of been served.

 

I'm sure you are aware of local businesses who have been screwed over by PFC when they've been paying their multi-millionaires (in the changing rooms and boardroom).

Yes as I was aware of the business's who were screwed over by Saints when in the same position, it's a ****ter. I lost 100's when a company went tit's up myself, so I know what it's like to be on the receiving end.

 

THAT'S WHY THE HMRC NEED TO SEND YOU TO THE WALL.

 

Ridiculous statement, driven by Bias, Rivalry and I can only assume bitterness. HMRC are there to protect the interests of the country, it benefits no one except you and a few thousand 'extreme' Saints fans (I use 'extreme' not in the context of being better or more devoted as fans) to see Portsmouth closed down. PFC employ's and pays (eventually!) 600 people, how does closing it down serve anyone?

 

Nothing personal against you PES. This issue is just as much about the state of football as it is about Poopey.

Nothing personal taken MS. Likewise my responce isn't aimed at you personally more the attitude, It's funny to see some Saints fans trying to somehow Intellectualise there views in such a pious manner, we all just want to support our clubs, some hate their rivals irrationally, thats fair enough, but I wish people would stick to the raw, more honest, statements of hate, rather than trying to 'dress up' their viewpoints as some kind of honest crusade against all thats wrong with football, beginning and ending (Funnily enough) with your greatest rivals, those fans should stick to clapping their hands and singing about Shooting Pompey fans, its much more dignified and certainly far less hypocritical.

[PES]

Can I just take a moment and step back from the gloriously funny detail of this unfolding story and offer my personal vote of thanks to the fans , players , management , and above all the many owners of Portsmouth Football Club for the months of free entertainment they have so selflessly offered up to Saints fans everywhere .

 

The magnificently venal greed so openly displayed , the sheer farcical incompetence exhibited by all concerned shows such a spirit of generosity towards us that I can hardly express how deeply grateful we truly are . The really great part is that hilarious as your season has been so far , I strongly suspect that the best is yet to come - outstanding !

 

 

Part of me thinks we should try our Leon best to lose the forthcoming cup tie in a vain effort to repay you , it's the only decent thing to do really .

 

For my part your very welcome and if you don't mind, that'd be nice.

[miserableoldgit]

Nothing personal taken MS. Likewise my responce isn't aimed at you personally more the attitude, It's funny to see some Saints fans trying to somehow Intellectualise there views in such a pious manner, we all just want to support our clubs, some hate their rivals irrationally, thats fair enough, but I wish people would stick to the raw, more honest, statements of hate, rather than trying to 'dress up' their viewpoints as some kind of honest crusade against all thats wrong with football, beginning and ending (Funnily enough) with your greatest rivals, those fans should stick to clapping their hands and singing about Shooting Pompey fans, its much more dignified and certainly far less hypocritical.

Good, not unreasonable post PES.

[Gemmel]

You've got to love their optimisim

 

MattG_PFC Posted on 05/02/2010 10:26

HMRC delay?

Email Message To A Friend | Reply To Message I'm sure there won't even be a need for HMRC to pursue the winding up order if Balram Chainrai pays the outstanding amount. I expect this will happen and the case will not even go ahead.

[miserableoldgit]

You've got to love their optimisim

 

MattG_PFC Posted on 05/02/2010 10:26

HMRC delay?

Email Message To A Friend | Reply To Message I'm sure there won't even be a need for HMRC to pursue the winding up order if Balram Chainrai pays the outstanding amount. I expect this will happen and the case will not even go ahead.

So, they think that he is going to protect his investment by pumping even more money in? Hmmmm.......

[dronskisaint]

Crappy club!

 

Apologies if this has been linked but even massage boy's wife is not as deluded (about the club anyway!) as some down the road!

 

Tzofit Grant, who is a colourful television presenter in the couple's native Israel, insisted that she was "not mad" at his visit to the "massage parlour", adding: "He can do whatever he likes with his body."

 

As The Daily Telegraph disclosed yesterday, Mr Grant, 54, may be questioned as a witness by police as part of an ongoing investigation into the brothel, on an industrial unit near Portsmouth's training ground in Eastleigh, Hants.

 

 

Grant, 45, said her husband's visit was entirely innocent, and she had encouraged him to have massages to relieve aches and tension in the past.

 

"I don't understand all the fuss," said Mrs Grant, speaking from Tel Aviv. "Avram loves massages, also Australian massages and Japanese massages, as well as having massages from Thai women.

 

"I swear on my children's lives that I am not mad at him. If I am mad, it is because he does not get massages every day. He's the manager of Portsmouth. Do you know how tough that is? He's a great manager stuck in a crappy team. He works so hard, he needs two massages a day, and from two women, not one."

 

Portsmouth are currently bottom of the Premier League and suffering a financial crisis which yesterday saw ownership of the club change hands for the fourth time this season.

[Joensuu]

PFC employ's and pays (eventually!) 600 people, how does closing it down serve anyone?

 

600! Why on earth do the skates do that? Are you including ball boys? How about the brown envelope carriers? Or perhaps you're counting the Thai ladyboys?

[Weston Saint]

Chainrai taken control now to make sure he can look at the books, the extent of the mess and then decide if Administration might be the only way before next Wednesday?

[Channon's Sideburns]

Nothing personal taken MS. Likewise my responce isn't aimed at you personally more the attitude, It's funny to see some Saints fans trying to somehow Intellectualise there views in such a pious manner, we all just want to support our clubs, some hate their rivals irrationally, thats fair enough, but I wish people would stick to the raw, more honest, statements of hate, rather than trying to 'dress up' their viewpoints as some kind of honest crusade against all thats wrong with football, beginning and ending (Funnily enough) with your greatest rivals, those fans should stick to clapping their hands and singing about Shooting Pompey fans, its much more dignified and certainly far less hypocritical.

 

PES, my comment regarding the HMRC and the 'wall' was not based on irrational bitterness towards Pompey.

 

It's the law - Pompey went against that and should face the consequences for their actions - both as a business and more importantly, the individuals who have been (and still are) running that club.

 

Rearranging the deckchairs on the Titanic (yes, the other disaster eminating from Soton) isn't going to change that.

 

I respect the fans approaching the Premier League, but the PL has even managed to orchestrate that to look like they care for you - they don't.

 

They just didn't want a protest outside their offices. Which to be honest with you, would have brought more attention to the plight of the ordinary fan. Add Mr Dinenage as a figurehead to it, and you could have gone to town on it.

[dronskisaint]

600! Why on earth do the skates do that? Are you including ball boys? How about the brown envelope carriers? Or perhaps you're counting the Thai ladyboys?

 

I think he means rent-a-crowd...that's a good percentage of their average attendance - I just didn't realise they were paid to be there.

 

[pedg]

600! Why on earth do the skates do that? Are you including ball boys? How about the brown envelope carriers? Or perhaps you're counting the Thai ladyboys?

 

One would guess that the majority of the 600 are match day only jobs so one assumes not those people only source of income.

[Sheaf Saint]

You've got to love their optimisim

 

MattG_PFC Posted on 05/02/2010 10:26

HMRC delay?

Email Message To A Friend | Reply To Message I'm sure there won't even be a need for HMRC to pursue the winding up order if Balram Chainrai pays the outstanding amount. I expect this will happen and the case will not even go ahead.

 

This despite the fact that Chanrai has already said he hopes that HMRC will work with them to come to a solution.

 

Translation: We haven't got a pot to p1ss in and we're hoping to convince HMRC to back down or at least adjourn the hearing so we don't have to pay them yet.

 

This poster needs to pour himself a long glass of reality methinks.

[Fitzhugh Fella]

If anyone would like to see the Special Report from BBC South Today (last night) you can view it here :-

http://www.bbc.co.uk/southtoday/latest_stories/index.shtml

 

(Select the "Watch Now" under Sally)

 

The important part is from 08:10 to 12:04, (the full report starts from 04:50).

 

Well done Tony H, it is about time somebody said these sort of things in the media, perhaps the FA and Prem League will take note.

 

(I believe it will be overwritten tonight so if you wish to view it or save it, it will have to be done today).

 

Good report.

Can't believe they sent Husband to Jerusalem

[Merovingian]

Balram if he wants his money back will have to pay the £7.5M at the winding up order next week, he has the money should he wish too. He has stated today he wishes to put the club on in a stable state ready to sell again as soon as. Its in his interests too ensure we do not go out of business one would assume. There are 2 interested parties that were not being allowed access to the books who will now be able to look at the club properly. I expect a 5th owner in one season to be a real possibility

[PES]

Balram if he wants his money back will have to pay the £7.5M at the winding up order next week, he has the money should he wish too. He has stated today he wishes to put the club on in a stable state ready to sell again as soon as. Its in his interests too ensure we do not go out of business one would assume. There are 2 interested parties that were not being allowed access to the books who will now be able to look at the club properly. I expect a 5th owner in one season to be a real possibility

 

And then finally an end to all this malarky! I'll miss this thread...

 

But! call it misplaced, but I feel more optimistic now than I have in about 5 months, relegation does not now hold so much fear. Just think, if those cretins down the road can get their act together, we could even have something to look forward too next season!

[Lets B Avenue]

Balram if he wants his money back will have to pay the £7.5M at the winding up order next week, he has the money should he wish too. He has stated today he wishes to put the club on in a stable state ready to sell again as soon as. Its in his interests too ensure we do not go out of business one would assume. There are 2 interested parties that were not being allowed access to the books who will now be able to look at the club properly. I expect a 5th owner in one season to be a real possibility

 

Even if that is true and even if these mythical books exist (and weren't they supposed to be bin lining a month ago ) then surely one read and any sane person will be running away as fast as their private jet will allow.

 

Where's the comments from the buffoon, Bin-Trump, since this latest comedy sketch was aired?

[Channon's Sideburns]

And then finally an end to all this malarky! I'll miss this thread...

 

But! call it misplaced, but I feel more optimistic now than I have in about 5 months, relegation does not now hold so much fear. Just think, if those cretins down the road can get their act together, we could even have something to look forward too next season!

 

Maybe it'll be third time lucky and you'll find an arab with money this time... ;-)

[Iowsaintsfan]

Can I just take a moment and step back from the gloriously funny detail of this unfolding story and offer my personal vote of thanks to the fans , players , management , and above all the many owners of Portsmouth Football Club for the months of free entertainment they have so selflessly offered up to Saints fans everywhere .

 

The magnificently venal greed so openly displayed , the sheer farcical incompetence exhibited by all concerned shows such a spirit of generosity towards us that I can hardly express how deeply grateful we truly are . The really great part is that hilarious as your season has been so far , I strongly suspect that the best is yet to come - outstanding !

 

 

Part of me thinks we should try our Leon best to lose the forthcoming cup tie in a vain effort to repay you , it's the only decent thing to do really .

 

Would make a great film

[Gingeletiss]

Nothing personal taken MS. Likewise my responce isn't aimed at you personally more the attitude, It's funny to see some Saints fans trying to somehow Intellectualise there views in such a pious manner, we all just want to support our clubs, some hate their rivals irrationally, thats fair enough, but I wish people would stick to the raw, more honest, statements of hate, rather than trying to 'dress up' their viewpoints as some kind of honest crusade against all thats wrong with football, beginning and ending (Funnily enough) with your greatest rivals, those fans should stick to clapping their hands and singing about Shooting Pompey fans, its much more dignified and certainly far less hypocritical.

 

PES....correct me if I'm wrong, you had already enjoyed 'arranged payments' with HMRC last year, but defaulted, hence the winding up order. So what gives you the right to expect Goverment to give you yet another chance, to extract the urine from them.

 

Clutching at straws.......we know, we tried for the same ones, and sympathy..........nah!!!, not from you lot.

 

At least one good thing will come of this...........firework sales will go through the roof.

[Lets B Avenue]

SSN @ Sunderland say that Nosworthy is off on loan to Sheff Utd rather than go on unpaid leave with the Blue Phew.

 

Although happy to use the monicker I am not bright enough to be credited with this as I picked up on it from an earlier post by another member.

 

Although us Eastleigh Boys were calling you lot Skates back in about '74!

 

It was I, LeClerc.

[Gemmel]

Balram if he wants his money back will have to pay the £7.5M at the winding up order next week, he has the money should he wish too. He has stated today he wishes to put the club on in a stable state ready to sell again as soon as. Its in his interests too ensure we do not go out of business one would assume. There are 2 interested parties that were not being allowed access to the books who will now be able to look at the club properly. I expect a 5th owner in one season to be a real possibility

 

merovingian, I don't want pompey to fold, but the maths just don;'t add up. The level of debt, the infrastructure, the bad press and your current league position, removes all the gloss of "Premiership team" etc.

To all intents and purposes you are a championship club, without any facillities (I'm not trying to take the **** by the way) and the investment it would take to make you comparible to some of those clubs who you could go and buy tomorrow for 20 -30, 40 million, just doesnt stack up.

 

For what its worth, I think yesterday was a good day for you, even it was nothing more than buying you time (Which it almost certainly will) but I don't think anybody really knows the end game in all of this

[StuRomseySaint]

Balram if he wants his money back will have to pay the £7.5M at the winding up order next week, he has the money should he wish too. He has stated today he wishes to put the club on in a stable state ready to sell again as soon as. Its in his interests too ensure we do not go out of business one would assume. There are 2 interested parties that were not being allowed access to the books who will now be able to look at the club properly. I expect a 5th owner in one season to be a real possibility

 

LOL - When they look at your books mate I suspect they will run a mile.

 

P*rtsmouth is financial suicide for any businessman looking for a profit to invest in. The club will only be attractive when it is in administration and all debts are cleared.

 

I am almost certain you won't get an investor before then... to get P*mpey on the straight and narrow and a competitive Premiership team of the future, the new owner will need to spend Man City type money on players, stadium, increasing the fanbase, training ground etc etc...

 

Investors are not going to spend that sort of money on a club like P*rtsmouth when they can buy clubs like Newcastle etc for alot less... even Crystal Palace would be more attractive as a football club than P*rtsmouth in my opinion.

[NickG]

some bits from itv

 

PORTSMOUTH HAVE BEEN TAKEN OVER YET AGAIN. IS THIS LATEST CHANGE OF OWNERSHIP THE ANSWER TO THEIR PRAYERS?

 

Sadly not. Fans may have been hoping a Roman Abramovich type could come along and rescue their club but this takeover is certainly not that. Their fourth owner in less than a year, Balram Chainrai, has already said he has zero interest in running the financially-stricken outfit long term and wants to sell on.

[NickG]

SO WHY HAS HE TAKEN OVER?

 

Chainrai, a Hong Kong-based businessman with British citizenship, has seized a 90% holding in Pompey from previous owner Ali Al Faraj after exercising a clause in a contract relating to a £17million loan to the club from his company Portpin. Pompey have continually defaulted on the loan repayments and he has acted to protect his investment out of fear the club could go into administration. That scenario could have left him with only a fraction of the money he lent

[NickG]

HIS MOVE CAME OUT OF THE BLUE. WON'T IT ADD TO THE TURMOIL AT FRATTON PARK?

 

Chainrai has taken over with the intention of stabilising the club and then selling on. Yet his arrival has not gone down well with the previous owners and Mark Jacob, the British lawyer appointed to the board by Al Faraj, is contesting it. He claims neither party has complied with the loan agreement. Additionally, Chainrai must also pass the Premier League's fit and proper persons test

[NickG]

WHO IS BALRAM CHAINRAI?

 

A multi-millionaire Nepalese-born businessman who made his fortune in property, consumer electronics and telecommunications

[NickG]

HOW DOES HE INTEND TO STABILISE THE CLUB?

 

His first task is to try to put off a February 10 winding-up hearing in the High Court brought by HM Customs and Revenue. That relates to an unpaid VAT bill of £7.5million. The HMRC petition has since been joined by Grosvenor, a company owned by the Duke of Westminster, relating to rent for a shop. If a request to adjourn is turned down, a £3.5million VAT shortfall must quickly be made up. The rest of the money will come from the recent sales of Younes Kaboul and Asmir Begovic. Chainrai has also given his backing to chief executive Peter Storrie and manager Avram Grant, both of whom felt undermined recently.

[NickG]

WHAT IS THE CLUB'S OVERALL PICTURE?

 

Debts at Pompey are widely reported to be £60million. The club have failed to pay their players' wages on time four times this season. The Premier League recently withheld £2million of transfer payments and a £7million slice of TV revenue to divert to clubs owed money for previous transfer deals. Former owner Alexandre Gaydamak claims to be owed £28million and ex-defender Sol Campbell is suing for £1.7million. On the field the team are in a sorry state, five points adrift at the foot of the Barclays Premier League.

 

 

 

full article here

 

http://www.itv.com/sport/football/news/generalnews/portsmouth-qa-440490360.html

[PES]

Maybe it'll be third time lucky and you'll find an arab with money this time... ;-)

 

I hope it's not an Arab buyer,had a gutfull of Arab owners (In a stricktly ownership of PFC kinda way). That great America philanthropist Paul Allen would be quite nice? I hear he's fond of the area?

[NickG]

think some of our other rejects are more likely!

 

unfortunately, without premiership or a decent ground, the bad name of your fans and all the scandal that has blighted your name is not so attractive!

[PES]

PES....correct me if I'm wrong, you had already enjoyed 'arranged payments' with HMRC last year, but defaulted, hence the winding up order. So what gives you the right to expect Goverment to give you yet another chance, to extract the urine from them.

 

Clutching at straws.......we know, we tried for the same ones, and sympathy..........nah!!!, not from you lot.

 

At least one good thing will come of this...........firework sales will go through the roof.

 

Good luck Ginge, don't hold your breath though. Chainrai is a British Citizen and a respected businessman. HMRC will welcome the new ownership and use this as an opportunity to reclaim in full what is owed to the Great British Taxpayer. Leaving the good people of Southampton to focus on their next great moral crusade against say, I dunno, poorly paid people in service industries who dont speak English too good?

[Fowllyd]

SO WHY HAS HE TAKEN OVER?

 

Chainrai, a Hong Kong-based businessman with British citizenship, has seized a 90% holding in Pompey from previous owner Ali Al Faraj after exercising a clause in a contract relating to a £17million loan to the club from his company Portpin. Pompey have continually defaulted on the loan repayments and he has acted to protect his investment out of fear the club could go into administration. That scenario could have left him with only a fraction of the money he lent

 

Interesting to see how in this article, as in many others, administration is put forward as Pompey's likely fate if funds aren't forthcoming pdq. Seems to me that liquidation would be the far more likely outcome - that will most certainly be the case if the winding up petition succeeds in court. And there's a massive difference between administration and liquidation. In fact, as things stand, administration looks like pretty much the best Pompey could hope for!

[PES]

think some of our other rejects are more likely!

 

unfortunately, without premiership or a decent ground, the bad name of your fans and all the scandal that has blighted your name is not so attractive!

 

LOL, like it or not, Due to a few raucous showings of support in our early Premiership days and of course, extremely lazy journlism, Pompey Fans are considered amongst the most Loyal, Passionate, Vociferous fans around. Not even my opinion, but the opinion of the media who have dubbed us as such. Other clubs to enjoy this lazy perception include Newcastle, West Brom and Stoke City. Southampton for some reason dont have to suffer this ridiculous generalisation.

[Gemmel]

LOL, like it or not, Due to a few raucous showings of support in our early Premiership days and of course, extremely lazy journlism, Pompey Fans are considered amongst the most Loyal, Passionate, Vociferous fans around. Not even my opinion, but the opinion of the media who have dubbed us as such. Other clubs to enjoy this lazy perception include Newcastle, West Brom and Stoke City. Southampton for some reason dont have to suffer this ridiculous generalisation.

 

Except when we won some strange award for the loudest song in the Premiership

[NickG]

talking about your thug reputation.

 

Vocal support maybe good for fans and players but millionaires are not so easily impressed by a drunked w******d and 12 years old throwing stones.

 

Another big problem is that they will see you do not have many fans and will worry how they will be able to break even on crowds of 10,000 in CCC.

[Gemmel]

LOL, like it or not, Due to a few raucous showings of support in our early Premiership days and of course, extremely lazy journlism, Pompey Fans are considered amongst the most Loyal, Passionate, Vociferous fans around. Not even my opinion, but the opinion of the media who have dubbed us as such. Other clubs to enjoy this lazy perception include Newcastle, West Brom and Stoke City. Southampton for some reason dont have to suffer this ridiculous generalisation.

 

 

Loyal....******* loyal pes???????????????????????????????????????

 

I have never seen such dis loyal fans in my life. The empty seats in your stadium , when your club needs you most suggest not. Oh and one week it is "Theres only one peter story" the next match you want his blood.

Loyal is not a word that the general football fan associates with pompey.

[Merovingian]

LOL - When they look at your books mate I suspect they will run a mile.

 

P*rtsmouth is financial suicide for any businessman looking for a profit to invest in. The club will only be attractive when it is in administration and all debts are cleared.

 

I am almost certain you won't get an investor before then... to get P*mpey on the straight and narrow and a competitive Premiership team of the future, the new owner will need to spend Man City type money on players, stadium, increasing the fanbase, training ground etc etc...

 

Investors are not going to spend that sort of money on a club like P*rtsmouth when they can buy clubs like Newcastle etc for alot less... even Crystal Palace would be more attractive as a football club than P*rtsmouth in my opinion.

 

I am inclined to agree with both you and Gemmel but its not just about profit that attracts people to buying a club is it. There are people interested for whatever reason I have no idea why....I wouldn't lol

[NickG]

http://www.mikeavery.co.uk/Attendance%20All%20Teams%20High%20to%20Low.htm

 

in premiership and 31 teams are better supported, many in lower leagues - where would their potential income from support rank when they are relegated?

[Channon's Sideburns]

Solent just reported that there are already accountants working within Pompey - according to the report, 'administration is looking likely'.

 

Well that's ok then. Chinrai takes over (or does he? - where does Al Mirage fit in) and the next day the talk's of admin.

 

How can he take them in though if his 'takeover' hasn't been ratified?

 

Sounds like someone wanted control before they hit admin...hmm where have we heard that before???

[Joensuu]

William Hill have opened a book on how long Chainrai will be in Chairman...

 

"Odds of 6/4 are currently available that the new owners will not be in charge come the end of February"

 

http://www.bettingpress.com/category/Football/Portsmouth-FC--How-long-for-Pompeys-latest-owners-201002050053/