Jump to content

Pompey Takeover Saga


Fitzhugh Fella

Recommended Posts

This is great, just reminded me of the old Question of Sport Days with David Coleman, Bill Beaumont and Willie Carson.

 

And so it's over to round two - What Happened next?

 

Cuts to motorcycle courier removing a package from the back of his bike outside the Court...

 

Billy - well obviously a dog leaped out from behind a tree and ran off with the package..

 

Uh no sorry Bill not quite....

 

Willie - I know I know - the envelope fell apart and all these fish fell out

 

 

.... to be continued

Link to comment
Share on other sites

This is great, just reminded me of the old Question of Sport Days with David Coleman, Bill Beaumont and Willie Carson.

 

And so it's over to round two - What Happened next?

 

Cuts to motorcycle courier removing a package from the back of his bike outside the Court...

 

Billy - well obviously a dog leaped out from behind a tree and ran off with the package..

 

Uh no sorry Bill not quite....

 

Willie - I know I know - the envelope fell apart and all these fish fell out

 

phil, you tosser. ive just splurted my tea out all over my laptop :D

Link to comment
Share on other sites

You would think that they would post an announcement on their web site re-assuring the best fans fans in the world that all is ok and the SoA has been delivered and that Jackanory has spewed his usual we are working around the clock

 

what do they post about one of the most important days of PCFC , when soooo many fans would be anxious..

 

FECK ALL .. what a ****ttte club that is

Link to comment
Share on other sites

The report from Vantis will be unaltered. What PFC will do is add their own qualification or comments if they disagree. It is that part they hope HMRC & High Court will look kindly on, in my opinion.

 

For Example:

 

Vantis report - From the full investigation we have carried out the company is insolvent.

 

Storrie addendum - no it is not.

 

:)

Link to comment
Share on other sites

The report from Vantis will be unaltered. What PFC will do is add their own qualification or comments if they disagree. It is that part they hope HMRC & High Court will look kindly on, in my opinion.

 

For Example:

 

Vantis report - From the full investigation we have carried out the company is insolvent.

 

Storrie addendum - no it is not.

 

:)

 

That's all right then WS! I feared they were tinkering:

 

"It was planned to have arrived by 2pm, but having looked over what Vantis plc, the court appointed accountancy firm, had come up with they wanted a 'couple more things factored in', hence the further delay".

 

 

http://www.portsmouth.vitalfootball.co.uk/article.asp?a=188602

Link to comment
Share on other sites

The report from Vantis will be unaltered. What PFC will do is add their own qualification or comments if they disagree. It is that part they hope HMRC & High Court will look kindly on, in my opinion.

 

For Example:

 

Vantis report - From the full investigation we have carried out the company is insolvent.

 

Storrie addendum - no it is not.

 

:)

 

Sounds about right to me. Vantis will have produced all the figures and some commentary; Storrie et al will have added a few bits about the plethora of potential - sorry, definite, nailed-down (well, you'd have to be, wouldn't you?) buyers just itching to rescue the giant club and its famous, best-in-the-world fans.

Link to comment
Share on other sites

So know we await the inevetable denials from Storrie that they are insolvent so that he can still encorage the phantom investor before the 1st of March. Of course any investor would want to look at that document and then wait to see if they get wound up on the 1st..so IMO they cannot get investment and will be wound up.

Right?

Link to comment
Share on other sites

Here's something I can't work out. If PFC only have about 20 professionals on their books and they couldn't even name a full squad during the African Nations Cup.....

 

And Utaka says he's 'only' on £27,000 per week.....

 

How the hell does their wage bill for playing staff come to £1.8m per month!!!

 

£1.8m divided by 30 (allowing for coaching staff in their playing staff, plus a few) is still £60,000 per man

 

Explain that one. I need to go to the Storrie Redknapp school of numbers

Link to comment
Share on other sites

Here's something I can't work out. If PFC only have about 20 professionals on their books and they couldn't even name a full squad during the African Nations Cup.....

 

And Utaka says he's 'only' on £27,000 per week.....

 

How the hell does their wage bill for playing staff come to £1.8m per month!!!

 

£1.8m divided by 30 (allowing for coaching staff in their playing staff, plus a few) is still £60,000 per man

 

That is £60k on average for a month.

 

£15k p/w

Link to comment
Share on other sites

has the sleeping giant been smothered today?

have we finally got it to flush?

can there be another club in the British game associated with so many criminals?

 

Send your answers on a postcard to Peter Storrie so he can alter it, in fact don't send it, wave it in his face, he likes that - no, not you Avram, don't wave that in his face.

Link to comment
Share on other sites

That's all right then WS! I feared they were tinkering:

 

"It was planned to have arrived by 2pm, but having looked over what Vantis plc, the court appointed accountancy firm, had come up with they wanted a 'couple more things factored in', hence the further delay".

 

 

http://www.portsmouth.vitalfootball.co.uk/article.asp?a=188602

I assume the bits they wish to have factored in ,is the extra cash from the Fa Cup fixture and the tv/PL money due.Also the sudden reduction in the wage bill of Utaka's wages. Strange that he has been so unhappy about the talk about his wages why speak about it today?

Link to comment
Share on other sites

Listening to SSN now and my thoughts are if the report submitted by Vantis to the board at 2pm was showing ongoing solvency why did Portsmouth ask Vantis to factor in other points? Sounds to me that the report is not advantageous.

 

SSN also say that rumour that they will go into Administration now or before 1st March have been denied by the club who say they will fight on.

 

As I said in my post this morning they must have an interested party still and are holding on by their fingertips.......as they have been doing for some time.

 

Anything can happen before 1st March but reading between the lines the game is up. They need to go into Administration before that date or they may find liquidation is suddenly fact and their gambling has destroyed the club beyond recovery.

Link to comment
Share on other sites

Guest Dark Sotonic Mills
Must get my ears washed out, I'm sure they have just reported on talk sport, that Poor smouth have just applied for administration!!!!!

 

Once a winding up petition has been advertised, the company (PFC) cannot go into administration without the Court's approval. I can't see the Registrar allowing that as she wants to clear up the little problem that she believes PFC have been trading whilst insolvent.

Link to comment
Share on other sites

Listening to SSN now and my thoughts are if the report submitted by Vantis to the board at 2pm was showing ongoing solvency why did Portsmouth ask Vantis to factor in other points? Sounds to me that the report is not advantageous.

 

SSN also say that rumour that they will go into Administration now or before 1st March have been denied by the club who say they will fight on.

 

As I said in my post this morning they must have an interested party still and are holding on by their fingertips.......as they have been doing for some time.

 

Anything can happen before 1st March but reading between the lines the game is up. They need to go into Administration before that date or they may find liquidation is suddenly fact and their gambling has destroyed the club beyond recovery.

 

By all logic they should already be in administration. The fact that they're not suggests, as you say, they maintain the hope that someone will buy them out before a receiver/administrator gets involved and starts turning over rocks.

 

The inference is the Vantis report says they're f****d, but the Directors say "Yes but we've got a ticket for this week's Euromillions and that'll sort us out". The Directors are so far in the mire, any hope is better than none.

 

They're toast.............

Link to comment
Share on other sites

By all logic they should already be in administration. The fact that they're not suggests, as you say, they maintain the hope that someone will buy them out before a receiver/administrator gets involved and starts turning over rocks.

 

The inference is the Vantis report says they're f****d, but the Directors say "Yes but we've got a ticket for this week's Euromillions and that'll sort us out". The Directors are so far in the mire, any hope is better than none.

 

They're toast.............

I can see the logic in that but why are they still there?

I can only assume they have something in the report that we have not thought of.

Link to comment
Share on other sites

Haven't read the last few pages, but does anybody else think that Utaka is lieing about his wage? Took him long enough to "clarify" it, and it's a bit of a coincidence that it's come around the same time they need to hand a finance report to the courts.

The whole thing stinks.

Edited by Saint_clark
Link to comment
Share on other sites

Haven't read through this whole thread, but does anybody else think that Utaka is lieing about his wage? Took him long enough to "clarify" it, and it's a bit of a coincidence that it's come around the same time they need to hand a finance report to the courts.

The whole thing stinks.

 

and if his salary was "reasonable" why was he not sold?

Link to comment
Share on other sites

It does not really matter about the statement of affairs to be honest and even if it favours Pompey it doesnt change anything. They were given a reprieve based on the fact they argued they were about to be taken over and wanted more time to complete it. A week later and they don't appear any closer. They only have 7 working days left now until the court case. And if they are to avoid having the plug pulled they have to have funds in place to pay their debts. If that is via a takeover or someone already in the club it does not matter.

 

Before that date they have 2 games against Stoke and Burnley lose to either of them and they will effectively be down, draw them both and it will be the same.

I can see them drawing to Stoke and then lose to Burnley and then it would not surprise me one bit to then see them go into admin.

 

The other question is lets assume they get past the court case and they have a deal in place to pay back the debts. They then lose those games. If i remember right isn't march 10th the date you have to go into admin to get the points deduction this season?

Link to comment
Share on other sites

Haven't read through this whole thread, but does anybody else think that Utaka is lieing about his wage? Took him long enough to "clarify" it, and it's a bit of a coincidence that it's come around the same time they need to hand a finance report to the courts.

The whole thing stinks.

The fact is that John Utaka's salary is about £25,000 per week - this must be beyond dispute. However, he also has a 'gentleman's' agreement that £60,000 per week will be transferred from Story-Teller's offshore account to cover his 'image rights'. :cool:

Link to comment
Share on other sites

×
×
  • Create New...