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Pompey Takeover Saga


Fitzhugh Fella

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Friend of mine, a pompey season ticket holder has said there is a massive rumour of the Guardian breaking a big story in the next 48 hours. May involve money laundering.

 

Although described by The9 as being xenophobic when this cropped up about a week ago, I still find it unbelievable that an Israeli gun runner and his son, a couple of fake sheikhs and their cohorts with accounts in the BVI choose dear old Blighty as the best country in the world to attempt to launder money.

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would love it if Chainrai gets his fingers burnt. He seems to have ****ed things up and HMRC are after him as well as PCFC. Not sure why I feel that about Chainrai, possibly because he thought he was more intelligent than everyone else and was going to walk away with a profit.

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Interestingly enough the minutes of fans meeting with the adminsitrators, didn't include a comment from the Administrator that it appeared " Alot of money was unaccounted for"

 

http://www.fansonline.net/portsmouth/mb/view.php?id=247600

 

Explanation from one of the sos guys.....

 

The administrator made an off the cuff remark about alot of money being unaccounted for, but as yet they haven't actually gone through the books.

 

"The administrator, while stating that this wasn't an off the record comment, has said that until the books are gone through completely it wouldn't be fair for him to leave that comment in"

 

Administrators normally play things very close to their chests, seems a very strange comment to make, regardless of whether it is true and regardless of whether it was included in the minutes.

 

I thought that was weird, an administrator that hasn't completely gone through the books.

 

I don't know a great deal about administrators but you would assume the first thing they would do was go through the books. Looks to me like they know something dodgy has gone on and are just covering their ass.

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Although described by The9 as being xenophobic when this cropped up about a week ago, I still find it unbelievable that an Israeli gun runner and his son, a couple of fake sheikhs and their cohorts with accounts in the BVI choose dear old Blighty as the best country in the world to attempt to launder money.

 

Although Israel does not extradite it's people, they do try them in absentia. Up to 1977 USA and Israel did have a treaty but no longer. Having said that USA is a little tricky and people are still a bit scared of being done there so they do a bunk back to Israel.

 

Russia won't extradite anyone here. Look at the plutonium poisoning James Bond spy stuff that went on a few years back.

 

Then you have to see where it is possible to turn around loads of money in a short time. The PL has far too much money swilling around, so a £100m or so can disappear for a few months while the perpetrators can do a runner.

 

Which all leaves Peter Storrie in a bit of a tricky spot!

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Pompey staff to hear of their fate

 

 

 

 

Date:

10 March 2010

By Joe Nimmo

Pompey staff were today waiting to find out if their jobs are at risk.

Groups of staff have been given times for meetings throughout Wednesday to learn of their fate.

 

A press conference is due to be held at 5pm today where administrator Andrew Andronikou will reveal his plan.

 

One staff member from the Pompey Youth Academy emerged from a meeting at Fratton Park this morning. He was told he was being axed with immediate effect.

 

The man, who didn't want to be named, said he was three weeks short of being entitled to redundancy money. He will now rely on getting the government's statutory redundancy cash which is likely to take weeks.

 

He told The News: 'I asked them if there was any dialogue about possibly taking a pay cut and they told that hadn't been considered.

 

'I'm still taking it in. I hope there's a buyer found, there might still be a chance of getting my job.

'I'm absolutely gutted.'

 

Warehouse worker Mike Crawford, 42, from Tunstall Road, Cosham, walked out before his scheduled meeting as he said he knew he was going to be axed.

 

He said the staff members who were being fired were being taken into the boardroom, while those who are staying were ushered into chief executive Peter Storrie's to renegotiate their contracts.

 

Mr Crawford said he and other staff members were being treated badly.

 

'What they're doing is going past all common decency. I've just been kept hanging on, I had to find out about my meeting yesterday in The News.

 

'You've got an administrator talking about transparency but the employees are being treated like dirt. I don't suffer fools gladly.

 

'I just think what they are doing to us is just disgraceful.'

 

One worker, who wished to remain anonymous, added: 'I'm very worried - we're all just hanging on waiting to find out.'

 

Another added: 'I'm just trying to keep out the way before they tell me.'

 

Mr Andronikou has already pledged to 'cut to the bone' when he took over at Fratton Park

.....

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They could save 50 "ordinary" jobs in one big hit by sacking Storrie, FFS :rolleyes:

 

I might be way off..but I wonder if they have kept him on board so they can gather as much evidence as possible??

 

Guardian Story = Astrological Fees laying off staff = Astrological Hero?

 

Nice thing to have on your CV that you unearthed the story of Pompey's history....

 

could be time for some 'Agent Astrological' T-Shirts then.

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If there has been money laundering going on, is that what the skates were basing their appeal against the 9 point deduction on? I think if it can be proved that the club were not to blame (i.e. there were illegal activities going on), then the deduction may not apply.

 

Forgetting any further points they could lose a la Luton, or them being wound up next week. I think they would stay up without the 9 point deduction.

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Avram Grant is an idiot who would do well to keep his trousers and his mouth zipped.

 

He took the worst job in football as an odd favour in a vague middle east peace accord and immediately acted surprised that there were financial issues.

He then managed to drag their reputation even lower through his hobbies.

He's bigging himself up to the fans when they win, and hiding when they lose.

He doesn't grasp that by fielding that team the club is cheating, and he blames everyone else for their plight.

He then rather oddly announces that last Saturday was 'a great day in history'...not for fair play and the sport it wasn't.

What's more his league record is appalling! - Adams and Hart must be amused by his self-proclaimed hero status.

 

 

While I have great sympathy with their office staff who are today being chucked out on the street, Grant doesn't deserve to get paid.

 

And if a valid expose on money-laundering hits the streets before Monday that would be the end of the road, no court could let them continue.

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If there has been money laundering going on, is that what the skates were basing their appeal against the 9 point deduction on? I think if it can be proved that the club were not to blame (i.e. there were illegal activities going on), then the deduction may not apply.

 

Forgetting any further points they could lose a la Luton, or them being wound up next week. I think they would stay up without the 9 point deduction.

 

Although money laundering "may" increase a successful appeal against a points deduction (I'm not sure it does really) it probably also increases the chances of the club being wound up. If the club is wound up it matters not if they have a points deduction or not.

Edited by Matthew Le God
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Avram Grant is an idiot who would do well to keep his trousers and his mouth zipped.

 

He took the worst job in football as an odd favour in a vague middle east peace accord and immediately acted surprised that there were financial issues.

He then managed to drag their reputation even lower through his hobbies.

He's bigging himself up to the fans when they win, and hiding when they lose.

He doesn't grasp that by fielding that team the club is cheating, and he blames everyone else for their plight.

He then rather oddly announces that last Saturday was 'a great day in history'...not for fair play and the sport it wasn't.

What's more his league record is appalling! - Adams and Hart must be amused by his self-proclaimed hero status.

 

 

While I have great sympathy with their office staff who are today being chucked out on the street, Grant doesn't deserve to get paid.

 

And if a valid expose on money-laundering hits the streets before Monday that would be the end of the road, no court could let them continue.

 

Abso-bloomin-lutely.

 

He's an ar se to put in mildly. Sick of him bleating on all the time, and even more sick of the interviewers giving him media space. They should get Paxman to interview him and stick a few facts under his nose.

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Guess it pays to tell porkies!....

 

 

thegrinch Posted on 10/03/2010 12:47

Peter and Tanya keep their jobsEdited On: 10/03/2010 12:49

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Just spoke to a friend of a PFC staff member who was just told he is being made redundant. He was even less happy when he claims to have found out Storrie and Robins keep their jobs on full pay. If this is indeed true it STINKS!! The majority of staff were either made redundant or reduced to a 2 day week. I wonder if that will be mentioned in the press conference later today.angry.gif

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Guess it pays to tell porkies!....

 

 

thegrinch Posted on 10/03/2010 12:47

Peter and Tanya keep their jobsEdited On: 10/03/2010 12:49

Email Message To A Friend | Reply To Message

Just spoke to a friend of a PFC staff member who was just told he is being made redundant. He was even less happy when he claims to have found out Storrie and Robins keep their jobs on full pay. If this is indeed true it STINKS!! The majority of staff were either made redundant or reduced to a 2 day week. I wonder if that will be mentioned in the press conference later today.angry.gif

If that is true then the stench just keeps getting stronger & stronger what a disgrace. I really feel sorry for the general employee's of Pompey.

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If there has been money laundering going on, is that what the skates were basing their appeal against the 9 point deduction on? I think if it can be proved that the club were not to blame (i.e. there were illegal activities going on), then the deduction may not apply.

 

Forgetting any further points they could lose a la Luton, or them being wound up next week. I think they would stay up without the 9 point deduction.

 

That's like appealing against a manslaughter charge by admitting murder.

 

"Your honour we couldn't possibly avoid administration as we've had millions of dirty cash to launder!!!"

 

As we've seen in Luton's case, it doesn't matter is it was previous owners who are responsible, it was the club laundering money, the club not paying it's debt and the club that needs to be held accountable.

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If there has been money laundering going on, is that what the skates were basing their appeal against the 9 point deduction on? I think if it can be proved that the club were not to blame (i.e. there were illegal activities going on), then the deduction may not apply.

 

Forgetting any further points they could lose a la Luton, or them being wound up next week. I think they would stay up without the 9 point deduction.

 

Further points would apply, rather than fewer points. The new Luton board went to the FL and said 'here's evidence of financial mismanagement by the previous board' and the FL said 'thanks very much, here's another 20 point deduction'.

 

As for staying up....can't see it myself. They're bottom on merit, and have games at Liverpool, Everton and Spurs to come, plus home games against Chelsea and Villa. Can't see many points comeing from those games, so winning all 5 other games will give them 34 points. It's not going to happen.

 

Burnley play Wolves this weekend, Pompey play at Anfield. Assuming Pompey lose, a Wolves win would leave them 8 points adrift with 9 to play.

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Further points would apply, rather than fewer points. The new Luton board went to the FL and said 'here's evidence of financial mismanagement by the previous board' and the FL said 'thanks very much, here's another 20 point deduction'.

 

As for staying up....can't see it myself. They're bottom on merit, and have games at Liverpool, Everton and Spurs to come, plus home games against Chelsea and Villa. Can't see many points comeing from those games, so winning all 5 other games will give them 34 points. It's not going to happen.

 

Burnley play Wolves this weekend, Pompey play at Anfield. Assuming Pompey lose, a Wolves win would leave them 8 points adrift with 9 to play.

 

Indeed. A few weeks ago there we about 4 or 5 teams within a couple of points but slowly some of them are getting points and dragging themselves relatively out of danger. It only takes one of Wolves, Hull or Burnley to put in a spurt and the bottom three will find a widening gap to safety.

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Mr Andronikou has already pledged to 'cut to the bone' when he took over at Fratton Park

 

 

Not strcitly true though is it Mr Andronikou; I 'm sure the loanee clubs would take their players back if you explained the situation to them.

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If there has been money laundering going on, is that what the skates were basing their appeal against the 9 point deduction on? I think if it can be proved that the club were not to blame (i.e. there were illegal activities going on), then the deduction may not apply.

 

Forgetting any further points they could lose a la Luton, or them being wound up next week. I think they would stay up without the 9 point deduction.

 

errm, is it just me? :confused:

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strictly speaking they didn't miss the deadline for applying for the UEFA license, it was more a case of being unable to provide accounts/financial figures to prove that they could fulfill the fixtures next season (should they gain entry) which are required, and as these are unavailable they simply could not, and did not apply for one.

 

On a seperate note on Quay radio last night Wisey said that the administrator had revealed that the debt was £83m. Sorry if that has been posted elsewhere, but thats the first time I've heard a figure provided by Andriod.

 

I heard Andrew Andronikou being interviewed by Gary Richardson on BBC FiveLive's Sportsweek about 10 days ago. Richardson asked AA if the amount of debt was £70 million and AA replied the amount of debt was around £78 million.

 

http://www.bbc.co.uk/programmes/b00r5y9t

 

wjhilst the above link says you cannot listen to the programme again, in a section just below called, somewhat puzzlingly, 'Chapter 1' it says ...

 

"Portsmouth administrator Andrew Andronikou reveals the extent of the club's debt as £78 million and the plan to exit administration before the start of next season".

 

And now it's £83 million - an extra £5 million of debt found/created in just 10 days.

 

Sweet.

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If there has been money laundering going on, is that what the skates were basing their appeal against the 9 point deduction on? I think if it can be proved that the club were not to blame (i.e. there were illegal activities going on), then the deduction may not apply.

 

Forgetting any further points they could lose a la Luton, or them being wound up next week. I think they would stay up without the 9 point deduction.

 

It would simply be an allegation of money laundering and therefore nothing for the EPL to act upon.

 

Any action, if proven, would have to happen after any convictions.

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That is the bit i just do not get , not many administrations do you keep CEO and Administrator.

just adds to the smell from down the M27

 

Its almost as if they are advertising their guilt. "Clearly we need to save the most money we can but I cant let these people go because they have threatened to spill the beans if I do. Instead they will focus on cleaning up the paper trail and drawing large salaries for as long as we can get away with it. That nice disgraced lawyer from Fuglers is also helping"

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Further points would apply, rather than fewer points. The new Luton board went to the FL and said 'here's evidence of financial mismanagement by the previous board' and the FL said 'thanks very much, here's another 20 point deduction'.

 

As for staying up....can't see it myself. They're bottom on merit, and have games at Liverpool, Everton and Spurs to come, plus home games against Chelsea and Villa. Can't see many points comeing from those games, so winning all 5 other games will give them 34 points. It's not going to happen.

 

Burnley play Wolves this weekend, Pompey play at Anfield. Assuming Pompey lose, a Wolves win would leave them 8 points adrift with 9 to play.

 

and that's in the worst possible case scenario if Pompey somehow managed to avoid any points penalties (which won't happen).

 

It's looking like 3 of Pompey, Hull, Burnley and Wolves are going down, I think Wolves will just do enough as their better than Hull and Burnley simply aren't good enough under Laws.

 

Even if Pompey stayed up with a 9 point penalty, I'm sure the PL would come up with some 'financial irregularity' -15 deduction to make their relegation a certainty. The PL want rid of them ASAP.

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If there has been money laundering going on, is that what the skates were basing their appeal against the 9 point deduction on? I think if it can be proved that the club were not to blame (i.e. there were illegal activities going on), then the deduction may not apply.

 

The only way the club would "not be to blame" were for issues outside of their control (i.e they were owed £20m from a club who suddenly refused to pay..

 

Money Laudering by their owner is 100% within the clubs control.

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The only way the club would "not be to blame" were for issues outside of their control (i.e they were owed £20m from a club who suddenly refused to pay..

 

Money Laudering by their owner is 100% within the clubs control.

 

That is what I was unclear about as had also read this on some of their sites. It is deemed within the clubs control, albeit illegal, covered up and not known about elsewhere within the club? I would assume that both the club AND individuals would be punished then?

 

It seems that that is what their fans were expecting any possible challenge to be based on.

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That is what I was unclear about as had also read this on some of their sites. It is deemed within the clubs control, albeit illegal, covered up and not known about elsewhere within the club? I would assume that both the club AND individuals would be punished then?

 

It seems that that is what their fans were expecting any possible challenge to be based on.

 

God yes. If it were some little scroat in accounts who had managed to siphon off £20m on the sligh, then they would possibly have a case. But if it were the owner/people in senior positions they wouldn't have a leg to stand on as they essentialy ARE the club.

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That is what I was unclear about as had also read this on some of their sites. It is deemed within the clubs control, albeit illegal, covered up and not known about elsewhere within the club? I would assume that both the club AND individuals would be punished then?

 

It seems that that is what their fans were expecting any possible challenge to be based on.

 

Dont forget they are living in a fantasy world at best or clinging to any scrap of wood that floats past them at worse.

 

Money laundering, within a Football Club ? How on earth would they seriously expect to escape further punishment for that ?

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"Portsmouth administrator Andrew Andronikou reveals the extent of the club's debt as £78 million and the plan to exit administration before the start of next season".

 

And now it's £83 million - an extra £5 million of debt found/created in just 10 days.

 

Sweet.

 

If ever, EVER there was a glaring, obvious case that the sh1theap down the road were cheating and completely insolvent, this is it.

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I heard Andrew Andronikou being interviewed by Gary Richardson on BBC FiveLive's Sportsweek about 10 days ago. Richardson asked AA if the amount of debt was £70 million and AA replied the amount of debt was around £78 million.

 

http://www.bbc.co.uk/programmes/b00r5y9t

 

wjhilst the above link says you cannot listen to the programme again, in a section just below called, somewhat puzzlingly, 'Chapter 1' it says ...

 

"Portsmouth administrator Andrew Andronikou reveals the extent of the club's debt as £78 million and the plan to exit administration before the start of next season".

 

And now it's £83 million - an extra £5 million of debt found/created in just 10 days.

 

Sweet.

 

Indeed, hardly an insignificant amount of extra debt at that.

 

Cardiff, Southend and Chester together could have had all their problems wiped out by that "additional sum" alone.

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Let me ask what may seem a stupid question... With all the player sales over the last year is it conceivable for them to have made a trading profit whilst still being in debt? If so, will there also be a bit dollop of corporation tax due?

It's certainly possible they've made a trading profit (albeit still unlikely just on the basis that they've required bailouts on a monthly basis a number of times this season), but very unlikely there would be any corporation tax due as I think you can offset previous losses against it.

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Is it just me but why have they not had their nine points chooped off yet?

Because it's not been confirmed whether they're actually entitled to go into administration.

 

Once the hearing's taken place on Monday, if it turns out they were entitled to call in the administrators, they'll get the points taken off.

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