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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Under Weststand

Under Weststand

Posted
Posted
23 April, just for the record.

 

If there's no buyer they'll carry on looking as long as the costs are covered.

 

They can be in admin for 18 months as far as the FL is concerned and they won't even be part of the FL until July 1st.

 

Administrator's responsibility is to the creditors. Gaydamak is the main creditor so he'll have some input, as will Chainrai no doubt.

Its up to 18 months, but you cannot start a second season in Administration, I know that as Stockport County will not be allowed to start the season next time unless they have their Golden Share from the FL, they are talking about dropping 5 divisions if there not out by then. They & there administrator have been twice recently to the FL with the Melrose consortium but come away without the Golden Share as they've not met the FL requirements. So Poopey will have just 1 season to sort it out no more.

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The9

The9

Posted
Posted
Man U our rivals .....mmmm, not sure about that!!!

 

Yeah, very strange. Let's ask Man U how they feel about us...

 

Coo-ee, down here, minor inconvenience in 1976, mid-late 80s and mid-90s... you remember, the funny grey kit thing. Little poky ground for ages ? You relegated us ? Knocked us out of last season's FA Cup ?

 

No ?

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Winchester_Saint

Winchester_Saint

Posted
Posted

He seemed to come across incredibly confident but inside he must know the size of the job he faces and the unlikeliness of the PL to back down over issues such as forgetting the -9 and allowing them to sell players after they have already been denied once.

 

The PL won't allow such things as they are rules and to allow them to go against such rules will be advantageous to them and will see a mad backlash from other Prem sides for allowing Pompey special priviledges which other clubs do not get.

 

Good luck with that one, weird admin man, you're fighting a losing battle already!

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The9

The9

Posted
Posted
Its up to 18 months, but you cannot start a second season in Administration, I know that as Stockport County will not be allowed to start the season next time unless they have their Golden Share from the FL, they are talking about dropping 5 divisions if there not out by then. They & there administrator have been twice recently to the FL with the Melrose consortium but come away without the Golden Share as they've not met the FL requirements. So Poopey will have just 1 season to sort it out no more.

 

Its Feb 2010. They won't be the FL's concern for another 4 months yet and they'll need to be out of Admin by June 2011. That's 16-17 months, inc 12 months under the FL's auspices.

 

But fair point on the 2 seasons thing. A few clubs have dipped in and out and in again though (Notts County, notably), though not so much since the -10 came in.

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Winchester Red

Winchester Red

Posted
Posted
Originally Posted by The9:

 

One of the things they will request is advancement of £60m parachute payments due over next 2 years

 

I think the parachute payments are half that considering the play-off final is often called the game with most at stake at £60m (£30m for first year and £30m for parachute payments). Can anyone confirm?

 

He said request payment of next years £16m payment

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The9

The9

Posted
Posted
He seemed to come across incredibly confident but inside he must know the size of the job he faces and the unlikeliness of the PL to back down over issues such as forgetting the -9 and allowing them to sell players after they have already been denied once.

 

The PL won't allow such things as they are rules and to allow them to go against such rules will be advantageous to them and will see a mad backlash from other Prem sides for allowing Pompey special priviledges which other clubs do not get.

 

Good luck with that one, weird admin man, you're fighting a losing battle already!

 

I missed the first few moments of the Press Conf, but I can't imagine for a second he genuinely thinks they'll avoid -9. Again, it's posturing for the fans and a negotiating position.

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The9

The9

Posted
Posted
And why should they not?

 

This is tax money, it effects me, you and every other person in this land... they hopefully won't budge an inch, even more so because of the public interest.

 

They absolutely should.

 

Except for Saints... but then WE paid HMRC. Good work there Woopert. :o

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Seaford Saint

Seaford Saint

Posted
Posted
Yeah, very strange. Let's ask Man U how they feel about us...

 

Coo-ee, down here, minor inconvenience in 1976, mid-late 80s and mid-90s... you remember, the funny grey kit thing. Little poky ground for ages ? You relegated us ? Knocked us out of last season's FA Cup ?

 

No ?

 

You have a point, its just that I had always thought of Man Us rivalry with Liverpool Leeds etc but not us.

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Under Weststand

Under Weststand

Posted
Posted
Its Feb 2010. They won't be the FL's concern for another 4 months yet and they'll need to be out of Admin by June 2011. That's 16-17 months, inc 12 months under the FL's auspices.

 

But fair point on the 2 seasons thing. A few clubs have dipped in and out and in again though (Notts County, notably), though not so much since the -10 came in.

Don't dispute any of that The9 just highlighting the 2nd season scenario, as its close to the family as the Brother in Law is a County season ticket holder, & dreading what the close season will bring, probably uni-bond league for them :(. What I want to know is where the F**K the FA is for these clubs, not falling over themselves to help the likes of them or Bournemouth are they.

Talking about .5-million to keep County going.

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pedg

pedg

Posted
Posted
You have a point, its just that I had always thought of Man Us rivalry with Liverpool Leeds etc but not us.

 

Think for a long time was no obvious rival. Rivals obviously tended to be teams that are either very local, i.e. derby rivals, or those with whom a team might often find themselves competing with for trophies etc, e.g. Man U and Chelsea. At the time the former was not really an issue and for the latter to become a real rivalry it needs several years to mature and I don't think we reached that stage. So till pompey came back up I don't think there was one clear rival in the way that other teams have them.

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The9

The9

Posted
Posted
Don't dispute any of that The9 just highlighting the 2nd season scenario, as its close to the family as the Brother in Law is a County season ticket holder, & dreading what the close season will bring, probably uni-bond league for them :(. What I want to know is where the F**K the FA is for these clubs, not falling over themselves to help the likes of them or Bournemouth are they.

Talking about .5-million to keep County going.

 

Someone argued the other day that the parachute payments are the largest sums of money ever granted to the "lower leagues", probably true, but it's hardly pre-Premier League equal distribution of wealth, is it ?

 

There's no even distribution of anything any more, whether from PL, FL or FA.

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Corporate Ho

Corporate Ho

Posted
Posted
Bigger stadium also means more sponsorship clout, extra revenue from concerts, extra revenue from corporate events, extra revenue from matchday corporate clients, extra revenue from matchday sponsors, extra revenue from matchday catering, extra revenue from replica kits and other merchandise.

 

Yep Ho, that's right... you will only make £5.7m a year in extra cash from having 10,000 extra fans in the stadium.

 

Fookin hell Ho, are you related to Storrie-teller?

 

Stuey, I accept my post was a little simplistic (I was thinking of you when I posted it) and of course some of the stuff you mentiuon will bring in more revenue. But stuff like corporate boxes and concerts don't generate multi millions and most replica shirts aren't sold on match days. I accept a biggger stadium would bring added benefits but my main point was that it's SKY money that pays multi million pound wages these days, not gate receipts. Or would you disagree?

 

It is a happy day for Saints fans after the stick we took. I hope it wll be a happy day for football as the Authorities FINALLY wake up and get their sh1t together.

 

But this day should have happened last summer and ntil the people responsible show ONE small sign of remorse then I do hope they die a long lingering death.

 

If they admit their failings then fair enough, the real fans at that club don't deserve this.

 

But like others this could be a pre-pack and the smell may linger AFC Pompey may still be a wise decision guys

 

Phil, the people mainly responsible are Gaydamak and Chainrai (with Storrie in the pantomime villain role). Do you really think they're going to apologise for using my club to make money?

 

Agree with you on the pre pack bit though

 

you are selling tickets for £20 and getting 17,000 in premiership.

 

you would never get 30,000 crowds.

 

£20 tickets are in two small sections only, not all round the ground. Research before you post please

 

Originally Posted by The9:

 

One of the things they will request is advancement of £60m parachute payments due over next 2 years

 

I think the parachute payments are half that considering the play-off final is often called the game with most at stake at £60m (£30m for first year and £30m for parachute payments). Can anyone confirm?

 

Parachute payments £16m a year for two years

 

Yeah, very strange. Let's ask Man U how they feel about us...

 

Coo-ee, down here, minor inconvenience in 1976, mid-late 80s and mid-90s... you remember, the funny grey kit thing. Little poky ground for ages ? You relegated us ? Knocked us out of last season's FA Cup ?

 

So any team you play regularly are your "rivals"? That's a lot of rivals

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St Marco

St Marco

Posted
Posted

So let me get this straight.

 

If this guy has the backing to get the club to the end of the season then why did they go into admin? Why not just continue as they were?

 

The guy said he sounded confident that PL will not give them -9, that PL and Fifa will let them sell outside the window and the PL will give them an advancement of the parachute payments. But wasen't that already asked before and it was rejected on all accounts?

 

Again asking the question if they were confident of those things happening why did they go into admin?

 

It just seemed like the guy was talking loads of ********. Even the sky lawyer sky said he had no chance and it is likely the club will get further points deductions due to HMRC not going to sign a CVA...

 

Is he Storrie in disguise?

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The9

The9

Posted
Posted
So let me get this straight.

 

If this guy has the backing to get the club to the end of the season then why did they go into admin? Why not just continue as they were?

 

The guy said he sounded confident that PL will not give them -9, that PL and Fifa will let them sell outside the window and the PL will give them an advancement of the parachute payments. But wasen't that already asked before and it was rejected on all accounts?

 

Again asking the question if they were confident of those things happening why did they go into admin?

 

It just seemed like the guy was talking loads of ********. Even the sky lawyer sky said he had no chance and it is likely the club will get further points deductions due to HMRC not going to sign a CVA...

 

Is he Storrie in disguise?

 

Going into admin (Chainrai put them there) stops them being wound up and liquidated on Monday. Surely everyone has worked that out ?

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StuRomseySaint

StuRomseySaint

Posted
Posted (edited)
Stuey, I accept my post was a little simplistic (I was thinking of you when I posted it) and of course some of the stuff you mentiuon will bring in more revenue. But stuff like corporate boxes and concerts don't generate multi millions and most replica shirts aren't sold on match days. I accept a biggger stadium would bring added benefits but my main point was that it's SKY money that pays multi million pound wages these days, not gate receipts. Or would you disagree?

 

We have 3000 Corporate places available, average for a stadium of our sise. Running at a very minimum of £120 a head.

 

120 x 3000 x 19 = 6.8m

 

Then you have all the corporate clients who get involved in sponsorship, then you have the venue which can be used for non-matchday corporate events, again this will run into millions.

 

The rest I was adding up as a multiple... which I am sure you agree, runs into mult-millions.

Edited by StuRomseySaint
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S-Clarke

S-Clarke

Posted
Posted
Gordon Brown the one eyed clown has now made comment on Portsmuff...

 

http://www.portsmouth.co.uk/newshome/Gordon-Brown39s-hopes-for-Pompey.6108543.jp

 

'''Clubs like Portsmouth have a tremendous local following. It's a great club with lots of people who enjoy watching them. If they are no longer able to play football, it is a sad loss for the local community.''

 

lol

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The9

The9

Posted
Posted
Parachute payments £16m a year for two years

 

So any team you play regularly are your "rivals"? That's a lot of rivals

 

Clarified already, accidental mishearing of the amount. Had £60m on the brain as that was the lower-end debt figure mentioned.

 

The second bit was sarcasm given our relative polarities since. Apparently there was a rivalry with Man U in the 70s, probably due to us both getting relegated out of the top division at the same time. Nothing I was aware of anyway.

 

Then again, I specifically remember Portsmouth battling it out with Newport County for promotion in Divs 4 and 3 in the early 80s, so I'll be pursuing that one as a convenient rivalry now too.

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dubai_phil

dubai_phil

Posted
Posted

 

Phil, the people mainly responsible are Gaydamak and Chainrai (with Storrie in the pantomime villain role). Do you really think they're going to apologise for using my club to make money?

 

Agree with you on the pre pack bit though

 

 

 

The owner appoints the Directors. The Directors owe a Duty of Care to the owner but also to Corporate Governance.

 

You died the day Gaydamark decided to get out - we agree on that.

 

Your Directors made a bad situation worse by failing to perform effective Due Dilligence of their own on first Fahim and then Al Mirage. History shows that to be a fact - they have to recommend a takeover to the shareholders (unless it is hostile).

 

What transpired in the Storrie vs Gaydamark vs different syndicates "arguments" is a really big part of your mess.

 

Blaming Al Fahim & Al Mirage for being to blame for the position (which you don't TBF) is like blaming LLS for failing to save Bournemouth or balming the PL.

 

Gaydamark accepted the deal from Al Fahim. Al Fahim had no money of his own. That is where you should start looking. Was Storrie involved? Could he have used his position to influence the acceptance of Al Fahim or rejection of others? Did he have a personal interest? All questions hat should be asked. Storrie may be much much more than a Pantomime Villain, or he could be the innocent man.... (yeah right only for THAT snafu, not the overspends)

 

But my point about "should have admin'd sooner" stands.

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St Marco

St Marco

Posted
Posted
Going into admin (Chainrai put them there) stops them being wound up and liquidated on Monday. Surely everyone has worked that out ?

 

I wasen't talking about that....

 

If the PL have already said a team will get -9 points for going into admin, have said no selling of players outside the window and have said no advance payments on either tv money or parachute money etc.. why does this guy feel confident that each of those points will be overturned? If he was that confident those things would not be that way then why did nobody buy the club seeing as they would be getting an advancement of around £16m from the parcahute payments?

 

If it is business as usual and they have this supposed financial backing then won't the HMRC have the appeal to go into admin looked at and maybe declined by the courts? Have the HMRC actually said anything?

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dubai_phil

dubai_phil

Posted
Posted
I wasen't talking about that....

 

If the PL have already said a team will get -9 points for going into admin, have said no selling of players outside the window and have said no advance payments on either tv money or parachute money etc.. why does this guy feel confident that each of those points will be overturned? If he was that confident those things would not be that way then why did nobody buy the club seeing as they would be getting an advancement of around £16m from the parcahute payments?

 

If it is business as usual and they have this supposed financial backing then won't the HMRC have the appeal to go into admin looked at and maybe declined by the courts? Have the HMRC actually said anything?

 

 

Marco.

 

IMHO it wil go like this.

 

Hello PL? My name is Fred from Ocean Finance. We have been asked by Mr Android to help stop your Premier League being all messed up.

 

We will lend the club 18mil to get through to the end of the season.

 

We have a letter from Mr Android to say that IF we give him the cash then he will let you pay us the 5mil TV money directly in May or whenever, and then you will pay us the first season of Parachute Money. We know that adds up to 21 mil but that is our interest.

 

Hopefully that will be all done, you do not pay the money early, you just change the bank details on your computer. This way everyone wins, Mr Android can save the club, you can stop West Ham losing 6 points annoying Mr Sullivan and we make a nice little earner.

 

Any problems?

 

OK so I'll send you the file from our computer rather than the one in Mr Adnroid's office as that seems to lose files too often.

 

Have a nice day

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Guided Missile

Guided Missile

Posted
Posted
As GM says, back in the 70s ManUre most definitely were our most hated rivals.

 

Pompey were rivals as well, but we hardly ever played them so it was all a bit low level.

Thanks Ron. Nice to see something posted by someone who remembers. It just shows how quickly football can change. In the 70's Man U were a second division and lower first division side...

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OldNick

OldNick

Posted
Posted
Marco.

 

IMHO it wil go like this.

 

Hello PL? My name is Fred from Ocean Finance. We have been asked by Mr Android to help stop your Premier League being all messed up.

 

We will lend the club 18mil to get through to the end of the season.

 

We have a letter from Mr Android to say that IF we give him the cash then he will let you pay us the 5mil TV money directly in May or whenever, and then you will pay us the first season of Parachute Money. We know that adds up to 21 mil but that is our interest.

 

Hopefully that will be all done, you do not pay the money early, you just change the bank details on your computer. This way everyone wins, Mr Android can save the club, you can stop West Ham losing 6 points annoying Mr Sullivan and we make a nice little earner.

 

Any problems?

 

OK so I'll send you the file from our computer rather than the one in Mr Adnroid's office as that seems to lose files too often.

 

Have a nice day

reading earlier about the % of unsecured debt warrants if the HMRC can stop them coming out with a CVA.

I would suspect that they have worked out a formula to allow it that the HRMC are not quite there. They have been working with some top minds for weeks to get this done.

The lady registrar fudged her decision and may have cost the revenue millions of £'s

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teamsaint

teamsaint

Posted
Posted
Thanks Ron. Nice to see something posted by someone who remembers. It just shows how quickly football can change. In the 70's Man U were a second division and lower first division side...

 

 

"we are Southampton We are the best. We hate United we hate the rest......" was how one song went.Our paths crossed with them quite a bit 73-77, and there was a pretty intense feel at the games. Other clubs of course had that with Utd too, but it WAS there.

 

 

As for Gordon Brown, what he actually meant to say was:

 

" With the parlous state of public finances, I intend to get every single penny owed to HMRC, as it is stolen public money, nothing more or less. I will also enact a special law to deny them a CVA under any circumstaces, and send the thieving skates to the wessex league where they belong. ".

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OldNick

OldNick

Posted
Posted
"we are Southampton We are the best. We hate United we hate the rest......" was how one song went.Our paths crossed with them quite a bit 73-77, and there was a pretty intense feel at the games. Other clubs of course had that with Utd too, but it WAS there.

 

 

As for Gordon Brown, what he actually meant to say was:

 

" With the parlous state of public finances, I intend to get every single penny owed to HMRC, as it is stolen public money, nothing more or less. I will also enact a special law to deny them a CVA under any circumstaces, and send the thieving skates to the wessex league where they belong. ".

Please please please do not try and make out that we had intense rivalry with Man u that was reciprocated. it will make us look as fooloish as the Pompey lot saying they are greatest fans etc.

Man u looked at us as just another club from down south who were provincial like Coventry etc.

Pompey will always be our number 1 rivals and I cnat see any arguement otherwise

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Joey-deacons-left-nut

Joey-deacons-left-nut

Posted
Posted
Originally Posted by The9:

 

One of the things they will request is advancement of £60m parachute payments due over next 2 years

 

I think the parachute payments are half that considering the play-off final is often called the game with most at stake at £60m (£30m for first year and £30m for parachute payments). Can anyone confirm?

 

It's £32m over two years so £16m a year,

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Guided Missile

Guided Missile

Posted
Posted
ROTFPMSL. That has to be one of the funniest things I've ever read. I bet Man Utd fans still consider you their rivals too. :D What a mong. This from someone who doesn't consider us his rivals but spends time and money getting reports from company house to post on here with a ridiculously sense of self inflated importance finding a legal flaw in Chainrai's plan only to be shown up as completely wrong. Not only that but as we're not your rivals, why post the same findings on Pompey Online posing as a Pompey fan no less.

 

Man United was a bigger rival for us than your lot for many years, as anyone that went to the Dell in the 70's will tell you.

 

As far as Chanrai's plans and their legality, I'm sure we'll find out more over the next few months, but I see that Fratton Park still belongs to Portsmouth City Football Club Limited with a Portpin charge on it, despite Chanrai saying it belonged to him and he was leasing it to the club for £1M a year.

 

You lot really do believe, on a regular basis, every morsel of sh !t that's fed you from Fratton, don't you. What a clueless bunch....and you'll never learn. From John Deacon, through Terry Venables and now Gaydamak, you sailors get a regular bumming and still take it with a toothless grin...

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OldNick

OldNick

Posted
Posted
It's £32m over two years so £16m a year,

 

yep plus they are due 5m sky money soon.

I would myself caution all those who are saying they are finished etc as I beleive they have turned a deal and going to make many people throw their hands up in the air in disbelief.

 

As a saints fan I find it distatsteful that the PM has not mentioned other football clubs in the past when they have also gone into administration and how do fans at Chester, Bournemouth etc feel ?

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teamsaint

teamsaint

Posted
Posted
Please please please do not try and make out that we had intense rivalry with Man u that was reciprocated. it will make us look as fooloish as the Pompey lot saying they are greatest fans etc.

Man u looked at us as just another club from down south who were provincial like Coventry etc.

Pompey will always be our number 1 rivals and I cnat see any arguement otherwise

 

 

I didn't say that.

But I was there in 74, 75,etc. We battled it out for relegation, which we both failed to avoid.The 75 game was a war off the pitch.

 

At the time we were rivals in terms of the football ladder, because, huge club though they were, they were for a few years at the same playing level as us.

As I suggested, for a couple of years, united were our playing rivals. Nothing of course to compare with citeh or Liverpool, (though I think that the Liverpool rivalry has grown if anything over the years).

 

Of course united didn't really view us as big time rivals. But for a short time their games against us were big matches even for them.

And if you dont think so, think about how much their fans STILL resent the 76 final win.They still go on about it.

Perhaps rivalry is the wrong word- but there was a special intensity in our encounters at that time.

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Matthew Le God

Matthew Le God

Posted
Posted
As a saints fan I find it distatsteful that the PM has not mentioned other football clubs in the past when they have also gone into administration and how do fans at Chester, Bournemouth etc feel ?

 

It is only because he was asked about Pompey, what else could he have said? If at the time Saints went into administration he'd have said the same. You can pretty much guarantee any politician asked that question would respond in exactly the same way. Brown wouldn't want to annoy potential Labour voters in Portsea with an upcoming general election.

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