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Pompey Takeover Saga


Fitzhugh Fella

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I suppose its that although a lot of debts are known could the possibly 'massage' (no Avram not that sort) the value of the assets at all?

 

Vantis still looking for all sets of books:D

 

"Tanya, has the ink dried yet":rolleyes:..."No not yet, still trying to work out all these bits of paper with arabic and Russian writting.....Looks like IOUs:smt066

 

Full and proper Massage required...No call the fire brigade...ala Barnet a few years ago:smt033

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Honestly? No idea. Logically it would make sense for anyone with a passing interest to just wait for us to be forced out of business and see if the wreckage would still qualify for the parachute payments. Don't profess to know what legal hoops would need to be jumped through on that one.

 

It might be that Storrie has a deal with some value in it for someone to come in now and stave off the winding up petitions. There's not a great deal of value left there either, so he hasn't got much left to play with.

 

Who knows? :confused:

 

I can only admire your optimism - though it's a moot point as to whether it's more a state of denial on your part than optimism. If liquidation does happen (and I'd say it's the most likely outcome by several streets) then there'll be nothing there to qualify for parachute payments, nor indeed anything else. Remember - we're not talking about administration here; that possibility vanished some time ago. Put simply, liquidation means that PCFC will cease to exist. The PL won't go handing out money to a new company purporting to be Pompey. Nor will the Football League be willing to allow a brand new club in at any level. So it'll be non-league, starting pretty much from scratch.

 

Any potential new investor/owner coming in now will have to stump up a large part of what's owed up front; to HMRC and Chainrai for starters, with all the footballing and other debts and Gaydamak also needing to be sorted sooner rather than later. They'll then have to subsidise a business which is running at a large loss on day-to-day trading (this is clearly the case, as the last five months' wages have been paid by a mixture of cash injection, loans and player sales). And I just can't see all that happening.

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A deal with the reciever to retain the trophy room contents would be one of the first priorities, so you can forget any dewy eyed visions of seeing the whole lot melted down for scrap. It won't happen, and it WILL be the same club followed by the same fans whatever numbers we muster......

 

Are you suggesting clubs can buy heritage from one another? Perhaps you should put a bid in for Royal Excelsior Mouscron's 1996 Belgian Second Division cup while your at it?

 

In your wacky world of buying history, I wonder if we could put in a few bids for your old trophies and melt them down ourselves?

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Does anyone know what would happen if PFC didn't submit the SoA.

 

The board may look at it, think 'Oh sh1t' and decide they would buy more time by just missing the deadline

 

Anyone know what would happen for a fact.... Clapham?

 

The only outcome of that would be liquidation on the 1st March.

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Does anyone know what would happen if PFC didn't submit the SoA.

 

The board may look at it, think 'Oh sh1t' and decide they would buy more time by just missing the deadline

 

Anyone know what would happen for a fact.... Clapham?

 

Might suggest contempt of court, and I'm sure Mr Storrie would not want that added to his ever growing CV !

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The only outcome of that would be liquidation on the 1st March.

 

Must be some punishment before then otherwise if the report says they are in trouble and will get liquidated they would just not send it in at all and who knows what might happen before the 1st then?

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I suppose its that although a lot of debts are known could the possibly 'massage' (no Avram not that sort) the value of the assets at all?

 

From a financial reporting sense not really. Can't remember the exact rules but basically assets are normally valued at acquisition cost less depreciation. The rules around revaluing assets at 'fair value' are pretty strict and would normally need expert 3rd party verification.

 

I think normally football clubs value players according to how much they purchased them and then amortise this over the term of the current contract i.e. buy a player for £4m on a four year contract after 3 years he is valued at £1m. Home-grown players or players acquired on a free have no value in the accounts.

 

HMRC would be pretty foolish to accept any argument that a certain level of income will be forthcoming in the summer from player sales unless that forecast was very, very prudent.

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I think our resident PFC fans need to remember how 'charitable' the FL are when it comes to teams in financial difficulty.

 

No team has been welcomed straight into the FL after being newly formed, and also remember Luton.... The new board / owners uncover a side-payment to an agent by an ex-director (was it 12 months previous!?) and run to the FL to be up front and honest. What happens? The FL say 'well done for spotting that, here, have another 15 point penalty'

 

Dealing with the EPL is a joy compared to dealing with the FL. Unless you think the FL will take the view that adding AFC PFC to their 'brand' will be a big enhancement. This is the point where you decide to what degree new PFC wants to be associated with old PFC.

 

Damned is you do and damned if you don't

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No. FC United is not Manchester United, because there's already a Manchester United. However, if Portsmouth FC goes tits up and is replaced by AFC Pompey or whatever, effectively it will be the same club, in the same colours. Maybe playing at a different ground, but to us Pompey fans it will still be Pompey.

 

A deal with the reciever to retain the trophy room contents would be one of the first priorities, so you can forget any dewy eyed visions of seeing the whole lot melted down for scrap. It won't happen, and it WILL be the same club followed by the same fans whatever numbers we muster......

 

It will NOT be the same club. The present-day Newport County is not the same football club that played in the Cup-Winners' Cup all those years ago. To you it will still be Pompey, but to everybody else it will be a new club. If indeed the trophy room contents are bought from the receiver (and bear in mind that there will most certainly be competition for them) then they will be merely the property of a new club, not trophies that club has won. If I were to buy a few old medals on eBay, I would own them - but I couldn't remotely claim to have earned them.

 

The only dewy-eyed visions, I fear, are your ones of the future for Pompey.

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It will NOT be the same club. The present-day Newport County is not the same football club that played in the Cup-Winners' Cup all those years ago. To you it will still be Pompey, but to everybody else it will be a new club. If indeed the trophy room contents are bought from the receiver (and bear in mind that there will most certainly be competition for them) then they will be merely the property of a new club, not trophies that club has won. If I were to buy a few old medals on eBay, I would own them - but I couldn't remotely claim to have earned them.

 

The only dewy-eyed visions, I fear, are your ones of the future for Pompey.

 

Not to mention that the contents of the trophy cabinet will generally all be replica's anyway I assume so if you are so attached to having copies of what you have won then you can just commission some new replica's.

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It will NOT be the same club. The present-day Newport County is not the same football club that played in the Cup-Winners' Cup all those years ago. To you it will still be Pompey, but to everybody else it will be a new club. If indeed the trophy room contents are bought from the receiver (and bear in mind that there will most certainly be competition for them) then they will be merely the property of a new club, not trophies that club has won. If I were to buy a few old medals on eBay, I would own them - but I couldn't remotely claim to have earned them.

 

The only dewy-eyed visions, I fear, are your ones of the future for Pompey.

 

Disagree, look at AFC Wimbledon. From our friend Wikipedia (I know, I know).

 

Following the move of Wimbledon F.C. to Milton Keynes and its rebranding as Milton Keynes Dons, there was much debate over the rightful home of all the honours won by Wimbledon F.C.. Former supporters argued that the trophies won by Wimbledon F.C. rightfully belong to the community of Wimbledon and should be returned to the local area. AFC Wimbledon believe that the honours of Wimbledon F.C. belong to the fans, as illustrated by the following statement on the club's official website:

 

“ The supporters of AFC Wimbledon believe that our club is a continuation of the spirit which formed Wimbledon Old Centrals in 1889 and kept Wimbledon Football Club alive until May 2002. We consider that a football club is not simply the legal entity which controls it, but that it is the community formed by the fans and players working towards a common goal. We therefore reproduce the honours won by what we believe was, and will always be, "our" club, in our community. ”

 

—AFC Wimbledon, statement on the club's Official Website[2]

 

In October 2006, an agreement was reached between Milton Keynes Dons F.C., the MK Dons Supporters Association, the Wimbledon Independent Supporters Association and the Football Supporters Federation. The replica of the FA Cup plus all club patrimony gathered under the name of Wimbledon F.C. would be returned to the London Borough of Merton. Ownership of trademarks and website domain names related to Wimbledon F.C. would also be transferred to the Borough. It was also agreed that any reference made to Milton Keynes Dons F.C. should refer only to events after 7 August 2004, the date of the first league match played as Milton Keynes Dons. As a result of this deal, the Football Supporters Federation announced that the supporters of Milton Keynes Dons would be permitted to become members of the federation, and that it would no longer appeal to the supporters of other clubs to boycott MK Dons matches.[16] The replica trophies and Wimbledon F.C. memorabilia were returned to Merton on 2 August 2007.[17]

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Disagree, look at AFC Wimbledon. From our friend Wikipedia (I know, I know).

 

Following the move of Wimbledon F.C. to Milton Keynes and its rebranding as Milton Keynes Dons, there was much debate over the rightful home of all the honours won by Wimbledon F.C.. Former supporters argued that the trophies won by Wimbledon F.C. rightfully belong to the community of Wimbledon and should be returned to the local area. AFC Wimbledon believe that the honours of Wimbledon F.C. belong to the fans, as illustrated by the following statement on the club's official website:

 

“ The supporters of AFC Wimbledon believe that our club is a continuation of the spirit which formed Wimbledon Old Centrals in 1889 and kept Wimbledon Football Club alive until May 2002. We consider that a football club is not simply the legal entity which controls it, but that it is the community formed by the fans and players working towards a common goal. We therefore reproduce the honours won by what we believe was, and will always be, "our" club, in our community. ”

 

—AFC Wimbledon, statement on the club's Official Website[2]

 

In October 2006, an agreement was reached between Milton Keynes Dons F.C., the MK Dons Supporters Association, the Wimbledon Independent Supporters Association and the Football Supporters Federation. The replica of the FA Cup plus all club patrimony gathered under the name of Wimbledon F.C. would be returned to the London Borough of Merton. Ownership of trademarks and website domain names related to Wimbledon F.C. would also be transferred to the Borough. It was also agreed that any reference made to Milton Keynes Dons F.C. should refer only to events after 7 August 2004, the date of the first league match played as Milton Keynes Dons. As a result of this deal, the Football Supporters Federation announced that the supporters of Milton Keynes Dons would be permitted to become members of the federation, and that it would no longer appeal to the supporters of other clubs to boycott MK Dons matches.[16] The replica trophies and Wimbledon F.C. memorabilia were returned to Merton on 2 August 2007.[17]

A liquidator will expect ot get the best price for them. They will be sent to auction and will make a decent price, I doubt there is any chance of them being kept togeher.Of course there may be a bit of looting before the people get the keys to the premises. Knowing a lot of the lads down in the Southsea trade, those items will be sold at Kempton Park, Newark antiques fair or melted down before your set of dreamers get a chance of getting a hold of them.

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They seem to be getting excited about the names being mentioned in a potential takeover on their forum, possibly the previous owners of Man Utd? Although a source from Pompey denying that the takeover would be completed in the next 48 hours seems to have dampened their enthusiasm...

 

aaand...

 

For Pete's sake stop feeding the troll...

 

There's no point arguing with him over and over with the same point because he can just as easily argue the other way...

 

Just wait and let actual events prove him wrong, he'll disappear then, guaranteed.

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They seem to be getting excited about the names being mentioned in a potential takeover on their forum, possibly the previous owners of Man Utd? Although a source from Pompey denying that the takeover would be completed in the next 48 hours seems to have dampened their enthusiasm...

 

aaand...

 

For Pete's sake stop feeding the troll...

 

There's no point arguing with him over and over with the same point because he can just as easily argue the other way...

 

Just wait and let actual events prove him wrong, he'll disappear then, guaranteed.

 

Wasn't JP Magnier rumoured to have looked at us last year? If he turned us down, why on earth would he be interested in that lot down the road?

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“ The supporters of AFC Wimbledon believe that our club is a continuation of the spirit which formed Wimbledon Old Centrals in 1889 and kept Wimbledon Football Club alive until May 2002. We consider that a football club is not simply the legal entity which controls it, but that it is the community formed by the fans and players working towards a common goal. We therefore reproduce the honours won by what we believe was, and will always be, "our" club, in our community. ”

 

—AFC Wimbledon, statement on the club's Official Website

 

If there were no doubt, AFC Wimbledon wouldn't have seen fit to release a statement.

 

Note, the emphasised text, they know that legally they are not the same entity, all they can fall back on is that they 'believe' that they are.

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Look at this!

 

Advertisement of the Petition

15 days (or sometimes more) before the hearing, the petition can be"advertised" in the London Gazette. Of course all high street banks and lenders monitor this very carefully because if a customer is involved in such an action they usually MUST freeze the bank account immediately - thus stopping any trading. The purpose of this is stop assets being sold or other transactions that may worsen the creditor’s position. This is to stop dissipation of assets under s127 Insolvency Act 1986.

 

Pompey do not have a bank account - they are alledgedly using Fuglers as I understand it

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But an AFC Pompey would have no right to claim them as they wouldn't be owned or earned by AFC Pompey!

 

They'd be forever in the hands of the club that won them, the club that went bankrupt!

 

You'd have as much chance trying to claim Man U's 1999 Champions League as AFC Pompey's, an AFC Pompey and Portsmouth football club are two different entities

 

Say what you like, it'll still be Pompey..........

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Wasn't JP Magnier rumoured to have looked at us last year? If he turned us down, why on earth would he be interested in that lot down the road?

 

Straws. Fans. Portsmouth. At. Clutching.

 

Those words in some sort of order would be my guess.

 

Or 'leaked' reports by Storrie.

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It will NOT be the same club. The present-day Newport County is not the same football club that played in the Cup-Winners' Cup all those years ago. To you it will still be Pompey, but to everybody else it will be a new club. If indeed the trophy room contents are bought from the receiver (and bear in mind that there will most certainly be competition for them) then they will be merely the property of a new club, not trophies that club has won. If I were to buy a few old medals on eBay, I would own them - but I couldn't remotely claim to have earned them.

 

The only dewy-eyed visions, I fear, are your ones of the future for Pompey.

 

Say what you like, it WILL be Pompey and it WILL have 112 years of history. End of........

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No. FC United is not Manchester United, because there's already a Manchester United. However, if Portsmouth FC goes tits up and is replaced by AFC Pompey or whatever, effectively it will be the same club, in the same colours. Maybe playing at a different ground, but to us Pompey fans it will still be Pompey.

 

A deal with the reciever to retain the trophy room contents would be one of the first priorities, so you can forget any dewy eyed visions of seeing the whole lot melted down for scrap. It won't happen, and it WILL be the same club followed by the same fans whatever numbers we muster......

 

Would you really want to take your last FA Cup though? The one you bought through players you could not afford, which ultimately spunked your entire club up the wall? That trophy cost you your club, by all means keep the ones you earned, but not the trojan horse that brought you down.

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Say what you like, it WILL be Pompey and it WILL have 112 years of history. End of........

 

If its Pompy, then its responsible for the debt if the current club. WUO number 2 please! :cool:

 

Different note, this whole stay of execution came about partly because Storrie pleaded with the court to let them talk to those ''two bidders'' that were ready to go. Could he be had over a barrel for lying in court should nothing come of it?

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If its Pompy, then its responsible for the debt if the current club. WUO number 2 please! :cool:

 

Different note, this whole stay of execution came about partly because Storrie pleaded with the court to let them talk to those ''two bidders'' that were ready to go. Could he be had over a barrel for lying in court should nothing come of it?

 

No far too tenuous and difficult to prove that he was wasting the courts time!

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If its Pompy, then its responsible for the debt if the current club. WUO number 2 please! :cool:

 

Different note, this whole stay of execution came about partly because Storrie pleaded with the court to let them talk to those ''two bidders'' that were ready to go. Could he be had over a barrel for lying in court should nothing come of it?

 

 

Be fair, he did have an email and a phone call from Saints fans confirming serious interest in digging him out of his very deep hole.:D

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Say what you like, it'll still be Pompey..........

 

Once Brighton's new Falmer stadium is finished you may be able to rent the Withdean Stadium. Maybe a tad big for you but them sailor boys will no doubt enjoy goin down there (so to speak) :D

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Are all Poorsmouth supporters this simple?

 

If the Club fail to complete the season and their results taken from the records, they will cease to exist.

 

If supporters set up another Club, it will not be the same Club, if it was the FA/FL would let them play in their league. They wont, and this new Club will have to start again at the bottom of the pyramid.

 

The FA run football in this country and they will deem it to be a new Club, no matter what any half witted Skates may say.

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Say what you like, it WILL be Pompey and it WILL have 112 years of history. End of........

 

So if my company went bust after 25 years and I set a new one up following day that would be the same company would it?

 

I couldn't say my company has 25 years history that would be a lie. Oh poopey are good at that though?

 

Do you think they'll still say you won the cup as AFC poopey or whatever you're going to be called...............I don't think so.

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The trophies would most likely go to Portsmouth City Council, because the new club will have no more claim to them then MK Dons do to Wimbledons'. IIRC, the supporters trust or whoever they are refused to let MK Dons in until they admitted they were not the same club and handed back the trophies. Don't see why a new pompey would be any different, despite being in the same city.

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Right. If we are in Blue Square division whatever, are playing absolute ******** even at that level, with zero investment, no ex players who would do a good job at that level and with no apparent hope at all of ever escaping upwards, our absolute bare minimum might be around 5-6k.

 

In reality, we would almost certainly have good money (at that level) invested from local business and the community, we'd be able to buy good quality players at that level and we'd very soon be playing attractive, winning football.

 

In this scenario, ground capacity and sensible ticket pricing permitting, we'll pull in somewhere between 8-12k as an educated guess, with more for games against teams at the top of the league and the odd 16-18k for boxing day games and F.A. cup games against higher league opposition.

 

But I still don't think it will come to that. If it does, we'll survive. Sadly for the more twisted of you on here, I can promise you one absolute copper bottomed certainty- they'll ALWAYS be a Pompey, and however low we go, we WILL come back.......

 

that's optimistic for the CCC considering your support last decline and now this season.

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