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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella
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saintbletch

saintbletch

Posted
Posted
“Hindsight is a great thing and when I look back perhaps I should have done more to address the situation."

 

“But at the end of the day I am simply an employee of the club and I only carry out the instructions of the owner."

Understatement of the millenium I think, and no you are the CEO with responsibilities beyond that of an employee.

 

Sasha: "Peter I want you to run the club insolvently and continue against all your business instincts to spend far more money than the club can actually generate organically. I want you to pay over the top for players and pay them ridiculously high wages even if this goes against your own valuations of their worth. And even if the club being insolvent might leave you in prison and liable for some of its debts, I want you to soldier on. It's also important that you ignore the grief and heartache that your actions will undoubtedly cause the loyal supporters of this club. Plough on despite the fans' concerns and doubts that will eventually become anger and abuse, hold your head up high knowing that you're just doing your job and serving my best interests. Oh and here's £1.2M + bonuses per annum and a little bit more being tucked away "off-shore" for you when it's all gone tits up."

 

Peter: "OK, Sasha. You're the boss"

pedg

pedg

Posted
Posted

Think the worrying thing for pompey is its supposedly a consortium and generally this appears to mean when buying football clubs that its a group of people each not rich enough to buy the club by themselves and that these groups tend to expand only until they have just enough money between them to do the minimum needed.

Evil Monkey

Evil Monkey

Posted
Posted

How many clubs in England (or in the world for that matter) are actually run by consortiums? We always here about groups looking at takeovers, but I cant think of any that have come to fruition.

 

Is this because I know f*ck all, or because it just isnt really a viable method of club ownership? I mean look at Liverpool? They only have 2 co-owners, and they cant even get along.

pedg

pedg

Posted
Posted
How many clubs in England (or in the world for that matter) are actually run by consortiums? We always here about groups looking at takeovers, but I cant think of any that have come to fruition.

 

Is this because I know f*ck all, or because it just isnt really a viable method of club ownership? I mean look at Liverpool? They only have 2 co-owners, and they cant even get along.

 

QPR? ish?

Winchester Red

Winchester Red

Posted
Posted (edited)
How many clubs in England (or in the world for that matter) are actually run by consortiums? We always here about groups looking at takeovers, but I cant think of any that have come to fruition.

 

Is this because I know f*ck all, or because it just isnt really a viable method of club ownership? I mean look at Liverpool? They only have 2 co-owners, and they cant even get along.

 

'course there are......... lots......... how about...... ermmmmm....... QPR!!!

 

Oh b*llocks....

:D

 

PEDG - You beat me to it....Git

Edited by Winchester Red
Me being too slow to keep up with PEDG
tony13579

tony13579

Posted
Posted (edited)

If pompey are liquidated I will feel very sorry for the staff earning less than £40k per year

(and chuckle at those earning much more)

Because the tax man will come after them for tax on the monies received.

The Pompey players will have to find 40% of the monies they received to pay the tax man.

low earning staff will have to find 23-30% to cover thier NI and tax.

Edited by tony13579
Winchester Red

Winchester Red

Posted
Posted
If pompey are liquidated I will feel very sorry for the staff earning les than £40k per year

(and chuckle at those earning much more)

Because the tax man will come after them for tax on the monies received.

The Pompey players will have to find 40% of the monies they received to pay the tax man.

low earning staff will have to find 23-30% to cover thier NI and tax.

 

So are you saying that if Storrie earned £100k last month, and PFC will have deducted 40% and he took home £60k.

 

Now the HMRC are going to pursue Storrie for 40% (ish) of his £60k because he is deemed to not have paid tax on it.

 

Sh1t that would be funny (for him, not so much for the staff!)

bridge too far

bridge too far

Posted
Posted
If pompey are liquidated I will feel very sorry for the staff earning less than £40k per year

(and chuckle at those earning much more)

Because the tax man will come after them for tax on the monies received.

The Pompey players will have to find 40% of the monies they received to pay the tax man.

low earning staff will have to find 23-30% to cover thier NI and tax.

 

I'm not sure you're right here. Last summer I phoned HMRC because I was concerned that my employer had liquidity issues. I was assured by HMRC that there was no way that I would be liable for tax and NI that my employer might have failed to pay.

dubai_phil

dubai_phil

Posted
Posted
QPR? ish?

 

You forgot that bastion of the PL and the all conquering new regime and players that are

 

 

 

Sunderland

 

Who, if they are REALLY lucky may gain one more point before the end of the season

EastleighSoulBoy

EastleighSoulBoy

Posted
Posted
This is such a laugh!!. Who, and I repeat WHO, is going to buy a club, that:-

 

1) Has that amount of debt.

2) Doesn't own it's own stadium.

3) Doesn't have a training ground.

4) Is a certainty for relegation.

5) Is a certainty for more points reductions for financial irregularities.

6) Has a small fanbase.

7) Has to satisfy HMRC, now, and for the future.

8) Owes other clubs transfer fees still, for players they have resold.

 

 

The list is endless, I can't for the life of me, see any honest business being interested.

 

Maybe not an honest business, however ......

Gingeletiss

Gingeletiss

Posted
Posted
I *think* it would go something like this...

 

2 relegated from Premier League, 3 promoted from Championship = 20 teams in Premier League, 23 in Championship;

2 relegated from Championship, 3 promoted from League One = 24 in Championship, 23 in League One

3 relegated from League One, 4 promoted from League Two = 24 in League One, 23 in League Two

1 relegated from League Two, 2 promoted from Blue Square Premier = 24 in League Two, 23 in Blue Square Premier. However, Chester City's pending expulsion from the BSP may help them even the numbers up as they could then have 22 teams in the BSP next season.

 

Or...the PL might still let three go down, but only two up. Thus they have reduced the PL to 18 teams, along the lines of UAFA want!!!!.

Saint Keith

Saint Keith

Posted
Posted
If pompey are liquidated I will feel very sorry for the staff earning less than £40k per year

(and chuckle at those earning much more)

Because the tax man will come after them for tax on the monies received.

The Pompey players will have to find 40% of the monies they received to pay the tax man.

low earning staff will have to find 23-30% to cover thier NI and tax.

 

no, it doesnt work like that. employers have the duty to account for and pay over any paye and NI due, employees are not ever liable for it personally

SaintBobby

SaintBobby

Posted
Posted
Or...the PL might still let three go down, but only two up. Thus they have reduced the PL to 18 teams, along the lines of UAFA want!!!!.

 

Nope - its already been confirmed, somewhere, that they would relegate 2 of the remaining 19.

hypochondriac

hypochondriac

Posted
Posted

Just been doing the predictor and if Pompey survive then they have some very easy games between now and the end of the season. They only have to lose one of those though and they will fail to stay up IMO. Looking good now.

Merovingian

Merovingian

Posted
Posted

I cannot believe some of you guys still think we have a chance of staying up lol - let alone still have a club come a week Monday :D

 

Must admit it will probably be the only time if the club survives where relegation will not actually be that gutting considering all the other issues that have gone on this year.

Colinjb

Colinjb

Posted
Posted
I cannot believe some of you guys still think we have a chance of staying up lol - let alone still have a club come a week Monday :D

 

As football fans we are inclined to fear the worse, i'm sure you understand. ;)

beatlesaint

beatlesaint

Posted
Posted
Just been doing the predictor and if Pompey survive then they have some very easy games between now and the end of the season. They only have to lose one of those though and they will fail to stay up IMO. Looking good now.

 

Liverpool, Chelsea, Aston Villa and Everton are 4 of their last 12......I assume you mean the other 8, mainly against teams who are desperate for points like Burnley and Bolton are the easy ones do you ?

dune

dune

Posted
Posted
To get to 40 points Portsmouth need to average 2 points a game - that's the same as Arsenal.

 

Pompey are the Man U of the South so anything is possible.

hypochondriac

hypochondriac

Posted
Posted
I cannot believe some of you guys still think we have a chance of staying up lol - let alone still have a club come a week Monday :D

 

Must admit it will probably be the only time if the club survives where relegation will not actually be that gutting considering all the other issues that have gone on this year.

 

I don't want to count my chickens. I was convinced you were down a few seasons back. You stayed up and it annoyed me. I have learnt...

hypochondriac

hypochondriac

Posted
Posted
Liverpool, Chelsea, Aston Villa and Everton are 4 of their last 12......I assume you mean the other 8, mainly against teams who are desperate for points like Burnley and Bolton are the easy ones do you ?

 

Burnley, Birmingham at home (they can definitely get something from that), Hull, Tottenham maybe because they are inconsistent, Blackburn, Wigan, Bolton and Wolves. Lets hope not though.

Saint Keith

Saint Keith

Posted
Posted
I don't want to count my chickens. I was convinced you were down a few seasons back. You stayed up and it annoyed me. I have learnt...

 

agreed, if only that shot from skp had gone in instead of hitting the post back in 04, all the charade of the last 6 years could have been avoided

hypochondriac

hypochondriac

Posted
Posted
They have to win 3 more games than those around them. As they've only won 4 all season..............

 

They looked like a team resigned to going down yesterday.

 

Seriously. Don't go saying things like that. If they do stay up you will feel cr*p. Football is a funny game.

Gingeletiss

Gingeletiss

Posted
Posted

....and this, says it all about the way they think down the road...

 

 

 

oxy30

 

spacer.gifnav-messages.gif Posted 21/2/2010 11:48

#95728 - in reply to #95684

Subject: Re: Lets see what Monday brings...

 

 

Alan 'The Legend' Knight

 

Posts: 1017

1000.gif

Location: emsworth

i think the new owner will put us straight into admin. clean sheet and all that

hutch

hutch

Posted
Posted
Presumably even if the takeover happens they will have their day in court as Friday was the last chance for HMRC to withdraw

No it wasn't. The case can be settled any time up to, and including, Monday morning 1st March.

rallyboy

rallyboy

Posted
Posted

they should be looking at Burnley, Hull and Wolves as their targets.

 

The biggest problem will be that they need all three to drop points every week and at some point two of those three will play each other, the victor of that basement battle could emerge 10-11 pts above Pompey - a massive ask, even though 36points might be enough as the Prem is so poor.

It would be an astonishing feat to stay up, it would be equally amazing to avoid financial collapse.

One miracle a season? Maybe, but two?....

PES

PES

Posted
Posted
I cannot believe some of you guys still think we have a chance of staying up lol - let alone still have a club come a week Monday :D

 

Must admit it will probably be the only time if the club survives where relegation will not actually be that gutting considering all the other issues that have gone on this year.

 

Very good point Mero, we've been cushioned by the extreme 'sh*t' we've had all season. Don't care what happens anymore, well that's not quite true, but you know what I mean. :)

Jimmy_D

Jimmy_D

Posted
Posted
I cannot believe some of you guys still think we have a chance of staying up lol - let alone still have a club come a week Monday :D

 

Must admit it will probably be the only time if the club survives where relegation will not actually be that gutting considering all the other issues that have gone on this year.

 

And now you know why none of the 'League One' taunts have really affected us fans this year :)

 

We're still delighted just to still have a club to support!

View From The Top

View From The Top

Posted
Posted
Very good point Mero, we've been cushioned by the extreme 'sh*t' we've had all season. Don't care what happens anymore, well that's not quite true, but you know what I mean. :)

 

You know you're in the sh(i)t when relegation is the least worst option!

hypochondriac

hypochondriac

Posted
Posted
If they stay up they stay up.

 

They, and Grant, looked like a team who had given up last night.

 

All it needs is one decent result and performance in the league to potentially kickstart a survival campaign. Saints fans should know all about that.

TopGun

TopGun

Posted
Posted
they should be looking at Burnley, Hull and Wolves as their targets.

 

The biggest problem will be that they need all three to drop points every week and at some point two of those three will play each other, the victor of that basement battle could emerge 10-11 pts above Pompey - a massive ask, even though 36points might be enough as the Prem is so poor.

It would be an astonishing feat to stay up, it would be equally amazing to avoid financial collapse.

One miracle a season? Maybe, but two?....

 

 

This is the on field crux should they survive off field issues. It's virtually impossible.

Saint Keith

Saint Keith

Posted
Posted (edited)

just been talking to my stake mate, who hasn't missed a game of theirs since 1988, but also happens to be the owner of an accountancy and audit firm

 

he agreed that their absolutely best outcome would be to be in the championship next season starting on 0 points the same as everyone else

 

also agreed that it defied all logic and reason for anyone to buy them ahead of next monday

 

unless - chainrai puts them into administration this week, with a new buyer lined up

 

new buyer wouldnt have anything to buy if they get liquidated on the 1st, as all the players become free agents, so they have no players assets, and ergo, no money from selling them

 

but it would be possible to buy them from an administrator, as at least players assets would remain

 

difficulty with all of this is that players wages have to be paid this Friday. they cannot turn up in court next monday claiming to be solvent having just failed to pay the wages again

 

his view is that unless chainrai is going to write off his whole £17m, he has no option but to fund the wages this week

 

and all this is still on the premise that someone would be willing to layout £30 million to buy the club, this week, AND strike a deal with chainrai and gaydamk for their lot

 

cue picture of bottomless pit and people throwing money into it

Edited by Saint Keith
View From The Top

View From The Top

Posted
Posted
just been talking to my stake mate

 

Just been doing the same and he also said how can they go to court next Monday having not paid the salaries as that is just screaming "insolvent"?

 

They need £3-£4 million on Friday for salaries and then £12 million on Monday for the taxman and that is just to stand still!

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