Pompey Takeover Saga

[Foxy]

Haha, is it a stupid question to ask 'which one?' Do you mean the one behind the main waterfront? If so, then yes - though I've never seen it open. That said, I'm normally not around there that much!

 

Plenty of prossies, escorts and sex shops knocking around Marbella - only yesterday had a Colombian working girl messaging me on FB randomly :-o

 

Was random that she was sending messages at random and one came your way, or just messaging you random stuff, maybe 'conkers', 'moon juice', 'hopping', 'Charles'?

[Crab Lungs]

Was random that she was sending messages at random and one came your way, or just messaging you random stuff, maybe 'conkers', 'moon juice', 'hopping', 'Charles'?

 

I haven't ruled out its one of my mates on a wind up just yet.

 

The content wasn't random, just weird english - and suggestive stuff, like 'just been jogging, hot and sweaty now lol'

 

I lol'd.

[St Chalet]

It would be a real shame for this thread to get locked for going off topic when we had all invested so much of our lives into it!

[Channon's Sideburns]

It would be a real shame for this thread to get locked for going off topic when we had all invested so much of our lives into it!

 

It's ok, I bet the Colombian's interested in buying the skates..... :-D

[badgerx16]

It's ok' date=' I bet the Colombian's interested in buying the skates..... :-D[/quote']

Easy enough to follow a gun runner and the only sheikh without any oil, with drug profits ?

[St Chalet]

Back on track, proceed to 20k please.

[Crab Lungs]

oh ********... look like this comic strip is taking a bit longer than i expected anyway

[bluejob]

It would be a real shame for this thread to get locked for going off topic when we had all invested so much of our lives into it!

 

 

I was thinking the very same thing.

[View From The Top]

I was thinking the very same thing.

 

I would imagine that some of you skates gain more knowledge about what's going on at your club from this thread than you do from your own websites?

[Channon's Sideburns]

South Today mentioned in their report earlier...

 

PCFC and the Administrators share the same legal firm.....

 

hmmmmm wonder who that could be???? ;-)

[St Chalet]

South Today mentioned in their report earlier...

 

PCFC and the Administrators share the same legal firm.....

 

hmmmmm wonder who that could be???? ;-)

 

Could I venture, just potentially, that maybe, it might be, possibly Fuglers?

[Channon's Sideburns]

I really cannot see how they can wangle their way out of this...

 

Even IF they avoid liquidation, by the time investigations are complete, I'm fairly happy with the assumption they'll be in League One.

[Channon's Sideburns]

Could I venture, just potentially, that maybe, it might be, possibly Fuglers?

 

Used to be Fuglers......haha

 

Now Bulsara & Co.

 

http://www.balsara.co.uk/

[Channon's Sideburns]

Now, THIS is interesting...

 

http://www.thelawyer.com/mayer-brown-advises-on-latest-sale-of-portsmouth-fc/1002199.article

 

---

 

Hamill explained that Al Fahim, who will stay at the club as non-executive chairman, had sold the majority of his stake after paying off the club’s creditors, including £35m to Standard Bank.

 

“The issue was that the club’s bankers and HM Revenue & Customs seized on the opportunity of change of ownership to get paid out,” he said.

 

“The club has, in effect, had to meet those demands in the last six weeks. That has accentuated the need for further financing, although it was always Al Fahim’s intention to bring in other investors.”

 

---

 

What?! Al Fahim paid off all the creditors?????? I think not.

[suewhistle]

I really cannot see how they can wangle their way out of this...

 

Even IF they avoid liquidation, by the time investigations are complete, I'm fairly happy with the assumption they'll be in League One.

 

You're a Pompey optimist then?

[bluejob]

I would imagine that some of you skates gain more knowledge about what's going on at your club from this thread than you do from your own websites?

 

Indeed we do. When looking for an informed, yet biased, opinion on our current situation this site is my first port of call.

[pedg]

I think someone has caught a bad case of baseless optimism disease.

 

http://fansonline.net/portsmouth/article.php?id=1338

 

Andronikou said: ‘The positive thing that came out today was that HMRC said administration was the best route, so they have now come on record which is great for everyone at the club. Everything is going according to plan and falling into place. The most important thing is now is to sell the club.

[View From The Top]

Indeed we do. When looking for an informed, yet biased, opinion on our current situation this site is my first port of call.

 

Aye, we maybe biased but the info' has amazed me at times.

[Micky]

I was at a Portsmouth game last week. The bloke next to me called me a c()nt.

I was going to punch his lights out, but I couldn't be bothered walking round the pitch.

 

Made me LOL

[Saint in Paradise]

Used to be Fuglers......haha

 

Now Bulsara & Co.

 

http://www.balsara.co.uk/

 

:confused: Who are these people then ???

 

http://www.fuglers.co.uk/index.html

 

.

[dubai_phil]

Strange that there has been very little reporting/analysis of the Court Hearing in the mainstream press.

 

Most have run with the standard report of the words taken from the news streams but it not one "Analyst" has looked at it and asked the meaning and the implications.

 

Unusual

[tony13579]

http://www.guardian.co.uk/sport/2010/mar/03/portsmouth-takeover-intermarket-digger

Serial club fancier eyeing up Portsmouth ... David Gold.... thats old news

 

I recon they are

[pedg]

http://www.mirrorfootball.co.uk/news/Portsmouth-to-be-offered-32million-balloon-payment-rescue-deal-by-Premier-League-exclusive-article342121.html

 

Crisis club Portsmouth will be offered a staggering £32million rescue deal from the Premier League to pay their tax bill and avoid going bust this season.

Pompey were rocked to find out that HMRC want a full settlement of a debt worth around £14million in the next few weeks - money that they simply do not have.

And now the Premier League are poised to step in and advance them their parachute payments plus TV cash to give them the funds to stop the taxman from shutting them down.

[Gravesend Saint]

So, the Mail reports that the blew few are "set to sell" FP to Chainrai for £10m and rent it back at £1.2m a year.

 

http://www.dailymail.co.uk/sport/football/article-1254880/Portsmouth-set-lose-Fratton-Park-owner-Balram-Chanrai-reveals-taxman.html

 

If they are now looking to sell doesn't this confirm that FP IS, in fact, on PCFC's books and make a mockery of the reports a couple of weeks back that Chainrai had a charge on it and had already taken possession to satisfy £10m of the debt owed to him?

 

Backs up part of HMRC's argument that he isn't a creditor and, therefore, was not in a legal position to put them in to admin.

[Saint Paul C]

http://www.mirrorfootball.co.uk/news/Portsmouth-to-be-offered-32million-balloon-payment-rescue-deal-by-Premier-League-exclusive-article342121.html

 

Crisis club Portsmouth will be offered a staggering £32million rescue deal from the Premier League to pay their tax bill and avoid going bust this season.

Pompey were rocked to find out that HMRC want a full settlement of a debt worth around £14million in the next few weeks - money that they simply do not have.

And now the Premier League are poised to step in and advance them their parachute payments plus TV cash to give them the funds to stop the taxman from shutting them down.

 

If that's the case then the phrase "cheat's never prosper" should be buried forever.

 

I can only hope and assume that the suggested 32m is a full advance of their relegation monies and will come with some serious strings attached. Either way, this stinks.

[Fowllyd]

http://www.mirrorfootball.co.uk/news/Portsmouth-to-be-offered-32million-balloon-payment-rescue-deal-by-Premier-League-exclusive-article342121.html

 

Crisis club Portsmouth will be offered a staggering £32million rescue deal from the Premier League to pay their tax bill and avoid going bust this season.

Pompey were rocked to find out that HMRC want a full settlement of a debt worth around £14million in the next few weeks - money that they simply do not have.

And now the Premier League are poised to step in and advance them their parachute payments plus TV cash to give them the funds to stop the taxman from shutting them down.

 

If this does happen (and the fact that it's being reported in the Mirror, which doesn't have a great track record in this area, makes me highly sceptical) then it's simply further indication that the Premier League wants shot of Pompey with as little disruption as possible to their own precious competition. They may even get support from a fair number of PL clubs who've taken points from the Skates as well. But the PL are no philanthropists, and they don't give a flying one about Pompey.

 

If PFC do get the full amount of PL money (what they're due for the rest of this season and two seasons' parachute payments), it will all be used to pay off debts and they won't see a penny of it. They'll then flounder in the Championship next season (and most likely have a major points deduction to boot), get relegated at least one more time but probably more, then bottom out at some point in the next five years.

[dubai_phil]

http://www.mirrorfootball.co.uk/news/Portsmouth-to-be-offered-32million-balloon-payment-rescue-deal-by-Premier-League-exclusive-article342121.html

Crisis club Portsmouth will be offered a staggering £32million rescue deal from the Premier League to pay their tax bill and avoid going bust this season.

Pompey were rocked to find out that HMRC want a full settlement of a debt worth around £14million in the next few weeks - money that they simply do not have.

And now the Premier League are poised to step in and advance them their parachute payments plus TV cash to give them the funds to stop the taxman from shutting them down.

 

 

For an organisation raking in Billions per year, 32 mil is petty cash.

 

Portsmouth are entitled to the cash over a two year period

 

The PL "Buying Off" HMRC and paying off the Football Creditors with this money will come with very long ropes, not strings.

 

It will also have the effect of telling any dodgy dealer/chancer/self publicist that they will not be able to rape the club for any money. What will be available for sale will be a shell of a club in the CCC with no TRADING debt. The buyer would need to come in with a long term plan.

 

Which means

1) The money stays in "The Game" by placating HMRC it will have a quid pro quo elsewhere with other clubs in trouble

2) The "Owners Debts" are still not paid off - meaning the cost of those debts will be around 50mil

3) The RUNNING costs of the club cannot be subsidised by TV or Parachute money from the PL, but only from revenue in the CCC. They WILL be dependent on Match Day revenues. That would place them in a financial position equal to the likes of Blackpool or Doncaster with the subsequent impact on their playing squad.

 

So a negotiation down from 50 mil to buy them in Admin still have to buy the land and still have to invest in facilities - Training ground, stadium etc

Stl have to fund them in the CCC where they could expect a maximum revenue of around 15mil a year...

 

Profit on 15 mil in CCC - lucky if it is 10% - covers the rent on FP. 50 mil to buy them? Return on investment 50 years or more...

 

 

This could be very good news for those who wish them to survive in their rightful place

[thesaint sfc]

If this does happen (and the fact that it's being reported in the Mirror, which doesn't have a great track record in this area, makes me highly sceptical) then it's simply further indication that the Premier League wants shot of Pompey with as little disruption as possible to their own precious competition. They may even get support from a fair number of PL clubs who've taken points from the Skates as well. But the PL are no philanthropists, and they don't give a flying one about Pompey.

 

If PFC do get the full amount of PL money (what they're due for the rest of this season and two seasons' parachute payments), it will all be used to pay off debts and they won't see a penny of it. They'll then flounder in the Championship next season (and most likely have a major points deduction to boot), get relegated at least one more time but probably more, then bottom out at some point in the next five years.

 

As much as I'd love to see the back of the club now, I know deep down I would much rather see them die very, very slowly. Your idea of what might happen would be perfect. 5 years of us beating Pompey whilst they have no money and stuggle week in, week out would be f*cking perfect

[Saint in Paradise]

I think that it is symptomatic of how things are in the World these days. People want it all and they want it now

not in a year or twos time. As Dubai Phil and others have said anyway / anyhow so that they can manage to get

more time in the hope that some mug will buy them.

 

I still blame that woman registrar for all this.:mad:

[sussexsaint]

more time in the hope that some mug will buy them.

 

I still blame that woman registrar for all this.:mad:

 

Based on what was said yesterday they would have to be beyond stupid to buy the club - with P*ss all assets and debts currently at 85m.

 

Can't understand why the EPL would bail them out surely that would damage their precious reputation more than letting them liquidate - if they liquidated it would save the EPL 35m in parachute payments - maybe that should be sent to the board of the EPL suggesting they split it between them as a bonus to 'ease the pain of their competitions reputation being besmerched'

[rallyboy]

I blame the press as well, they keep printing the league table and the facts from court cases, it's disgraceful, they're scaring off all the potential buyers.

 

Nasty press, vindictive taxman, unsupportive Premier League, unhelpful FA - it's a vendetta against the superb owners and management of a great club.

It's the fans I feel sorry for etc....

 

Denial ain't the place where Mido opened his swimschool.

 

If you can't do the time, don't do the crime.

[CB Saint]

IF the PL actually advance funds then they have to pray that the 9 points deduction will send Pompey down. If by some miracle they stay up, the relegated clubs will be appointing lawyers pdq

[GenevaSaint]

Can't understand why the EPL would bail them out surely that would damage their precious reputation more than letting them liquidate - if they liquidated it would save the EPL 35m in parachute payments

 

Which could then be distributed among the FL member clubs to show the PLs ongoing concern about their fellow clubs. Voila! Gesture of goodwill to "enhance" the band after the damage the skates have caused.

[GenevaSaint]

IF the PL actually advance funds then they have to pray that the 9 points deduction will send Pompey down. If by some miracle they stay up, the relegated clubs will be appointing lawyers pdq

 

I agree, said that about 20 pages ago now I'd guess. If they're trading insolvently then the first thing AA needs to do is send the loans players back to their parent clubs. That's only right and fair, otherwise they're not on a level playing field.

[sussexsaint]

I agree, said that about 20 pages ago now I'd guess. If they're trading insolvently then the first thing AA needs to do is send the loans players back to their parent clubs. That's only right and fair, otherwise they're not on a level playing field.

 

And have a look at some of the games where those loan players may have scored :mad:

[pedg]

IF the PL gave them this money it would bring the difference between their debts and their assets from 60 odd million to 30 odd million. So even with this bail out and with comparably minimal future income (CCC TV money & gate money) they would still be insolvent.

 

Also if they do finally pay off HMRC does it actually stop the return court date or do the wheels of justice move on regardless now?

[Gorgiesaint]

http://www.mirrorfootball.co.uk/news/Portsmouth-to-be-offered-32million-balloon-payment-rescue-deal-by-Premier-League-exclusive-article342121.html

 

Crisis club Portsmouth will be offered a staggering £32million rescue deal from the Premier League to pay their tax bill and avoid going bust this season.

Pompey were rocked to find out that HMRC want a full settlement of a debt worth around £14million in the next few weeks - money that they simply do not have.

And now the Premier League are poised to step in and advance them their parachute payments plus TV cash to give them the funds to stop the taxman from shutting them down.

 

If the PL did this, after yesterdays performance, then they really could be opening themselves up for further ridicule/critisism. There primary aim is to maintain the 'integrity' of the PL - can they do that by bailing out a club who have been less than honest to the High Court to avoid a WUO. This would be huge risk for the PL, and for that reason I don't think they will bail out PFC.

 

Edit: if the judge thinks he's been lied to - surely this will be looked into

[dubai_phil]

Spuds injury crisis

 

And they are asking questions about why Old Twitchy let O'Hara go out on loan

 

http://www.footballfancast.com/football-blogs/tottenham-faux-pas-jamie-ohara

[sidthesquid]

Lol, love that... how clueless?

 

Revised - best prices considering the age/contract status' of some players...:

 

1 GK David James (captain) free

3 DF Ricardo Rocha free

4 MF Aaron Mokoena 250k

5 MF Jamie O'Hara (on loan from Tottenham Hotspur)

6 MF Hayden Mullins 250k

7 DF Hermann Hreiðarsson (vice-captain) 0k

8 MF Papa Bouba Diop 500k

9 FW Frédéric Piquionne (on loan from Lyon)

11 MF Michael Brown (vice-captain) 250k

14 FW Quincy Owusu-Abeyie (on loan from Spartak Moscow)

15 GK Antti Niemi free

16 DF Steve Finnan free

17 FW John Utaka 2.5M

18 DF Anthony Vanden Borre (on loan from Genoa)

19 FW Danny Webber 100k

20 FW Tommy Smith 1M

21 GK Jamie Ashdown 750k

22 MF Richard Hughes 500k

23 MF Kevin-Prince Boateng 3M

24 FW Aruna Dindane (on loan from Lens)

25 DF Duško Tošić 0kk (he's not ours though is he)

26 DF Tal Ben Haim 2M

27 FW N****wo Kanu free

32 MF Hassan Yebda (on loan from Benfica)

33 MF Angelos Basinas free

35 DF Marc Wilson 2M

37 MF Gaël N'Lundulu

39 MF Nadir Belhadj 8M

40 DF Joel Ward

43 DF James Hurst

44 DF Luke Wilkinson

46 DF Lennard Sowah

 

 

Er.... I got 21,050,000!!! weird... pretty much what HMRC said

 

I did this acouple of weeks ago and got (I think) £22 million & I considered that a pretty charitable view. In reality £10-15 million is nearer to what they might actually realise

[pedg]

That's only right and fair, otherwise they're not on a level playing field.

 

But its all about consistency. They have been playing on sloped pitch for so long that, to maintain the 'integrity' of the competition, they need to be allowed to cheat for the whole season to keep things fair.

[OldNick]

reading and listening to the stuff elsewhere about yesterday and none of it seems to point that Pompey will be toast. It seems this board is the only place where they think that Pompey will get fried. There is a confidence about the administrator that all is well, and afterall he has the facts.I doubt many would come out of the high court looking so confident if they were hiding something.

Pompey could go to the high court next time only 2 points away from safety. Would a judge then fold them up knowing that they were only months away from massive tv money? It is a massive decision to put on his shoulders.

[sussexsaint]

reading and listening to the stuff elsewhere about yesterday and none of it seems to point that Pompey will be toast. It seems this board is the only place where they think that Pompey will get fried. There is a confidence about the administrator that all is well, and afterall he has the facts.I doubt many would come out of the high court looking so confident if they were hiding something.

Pompey could go to the high court next time only 2 points away from safety. Would a judge then fold them up knowing that they were only months away from massive tv money? It is a massive decision to put on his shoulders.

 

So you are continuing to advocate that Pompey will get away with this

[washsaint]

nickh - why are you so concerned about what will/will not happen to Pimply? At the end of the day they ARE toast. Sure they might escape liquidation but then what?

 

No ground (leased back to them), no training ground, no parachute money, will have to get rid of most of the squad, certain relegation from the Premier League and likely relegation to follow from CCC.

 

Whichever way you look at it, they will not come up smelling of roses - they are highly unlikely to get a rich sugar daddy come in - they would have to spend £100 million plus just to get decent facilities.

 

Not quite sure why so many are obsessed with Pimply going out of business....have you already forgotten the build up to the last derby? Do you really want to miss that?

[Gingeletiss]

reading and listening to the stuff elsewhere about yesterday and none of it seems to point that Pompey will be toast. It seems this board is the only place where they think that Pompey will get fried. There is a confidence about the administrator that all is well, and afterall he has the facts.I doubt many would come out of the high court looking so confident if they were hiding something.

Pompey could go to the high court next time only 2 points away from safety. Would a judge then fold them up knowing that they were only months away from massive tv money? It is a massive decision to put on his shoulders.

 

nick, you really should stop reading the gutter press;). It is reported that the adminman has connections with Chanrais lot, via their lawyers (the same). We can only speculate here, but I don't think HMRC do speculation, they feel there is something fishy as does the judge. Follow your gut feelings nick, and do stop reading the redtops!!!

 

Re-read this whole thread mate, they have nothing to offer an Honest buyer, and honest is the key word, they are toast nick. If not wound up, they will plummet through the leagues....you keep bigging them up, have a soft spot me old mate???

[tony13579]

reading and listening to the stuff elsewhere about yesterday and none of it seems to point that Pompey will be toast. It seems this board is the only place where they think that Pompey will get fried. There is a confidence about the administrator that all is well, and afterall he has the facts.I doubt many would come out of the high court looking so confident if they were hiding something.

Pompey could go to the high court next time only 2 points away from safety. Would a judge then fold them up knowing that they were only months away from massive tv money? It is a massive decision to put on his shoulders.

If everything went Pompeys way, they won all thier matches suvived in the prem, the tv money was paid, they won the FA Cup. they would still not be able to settle thier bills,player contracts and the tax man. The players would be due huge bonuses and they would not receive the parrachute payments.

Also they will not be within 2 points of suvival, you are forgetting the chill breeze of -9 whistling around the the club.

 

I like your creative accounting and positive thinking though

[OldNick]

nickh - why are you so concerned about what will/will not happen to Pimply? At the end of the day they ARE toast. Sure they might escape liquidation but then what?

 

No ground (leased back to them), no training ground, no parachute money, will have to get rid of most of the squad, certain relegation from the Premier League and likely relegation to follow from CCC.

 

Whichever way you look at it, they will not come up smelling of roses - they are highly unlikely to get a rich sugar daddy come in - they would have to spend £100 million plus just to get decent facilities.

 

Not quite sure why so many are obsessed with Pimply going out of business....have you already forgotten the build up to the last derby? Do you really want to miss that?

I like all this dirty talk , keep it up

[OldNick]

So you are continuing to advocate that Pompey will get away with this

Im kind of

[OldNick]

nick, you really should stop reading the gutter press;). It is reported that the adminman has connections with Chanrais lot, via their lawyers (the same). We can only speculate here, but I don't think HMRC do speculation, they feel there is something fishy as does the judge. Follow your gut feelings nick, and do stop reading the redtops!!!

 

Re-read this whole thread mate, they have nothing to offer an Honest buyer, and honest is the key word, they are toast nick. If not wound up, they will plummet through the leagues....you keep bigging them up, have a soft spot me old mate???

Ginge you could be 100% correct but there have been many false dawns.

Until i see they have had there correct punishment i will advocate they are getting away with it. The minus 9 is 99% certain but still not rubber stamped, as soon as I keep reading football people saying that 'why are there points penalties...blah blah blah' I do wonder if there is a crumbling of resolve.

The HRMC have changed their stance from wind-up to 'we agree administration is the correct way' (not that wind up is the best solution in my eyes, BSL would suffuce)

So i am on the expecting thej to come out of it free of debt and at wembley and avoid relegation until it is proved differently. I recall them minutes from liquidation 10 years ago and then in walked MM, so we have been there before.

[pedg]

The HRMC have changed their stance from wind-up to 'we agree administration is the correct way' (not that wind up is the best solution in my eyes, BSL would suffuce)

 

I think people, especially the administrator, are taking that 'we agree admin is the correct way' a bit too literally. I take it more like when someone says "We would love to help you, but..." you don't go away thinking all is fine because they have said they would love to help you.

[JackFrost]

Ginge you could be 100% correct but there have been many false dawns.

Until i see they have had there correct punishment i will advocate they are getting away with it. The minus 9 is 99% certain but still not rubber stamped, as soon as I keep reading football people saying that 'why are there points penalties...blah blah blah' I do wonder if there is a crumbling of resolve.

The HRMC have changed their stance from wind-up to 'we agree administration is the correct way' (not that wind up is the best solution in my eyes, BSL would suffuce)

So i am on the expecting thej to come out of it free of debt and at wembley and avoid relegation until it is proved differently. I recall them minutes from liquidation 10 years ago and then in walked MM, so we have been there before.

 

No they haven't, HMRC want them wound up. The only time I've heard them even hint at admin being a solution was in the court room when the representing QCs have to produce a sensible and logical argument.

 

If the QCs merely said they must be liquidated, admin simply isn't an option for this corrupt, justice dodging football club it would reduce HMRC's chances of winning their case considerably