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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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OldNick

OldNick

Posted
Posted
Why was he surprised? Android was probably chosen precisely because he was a lightweight in that industry, somebody who has been proven to have little moral or ethical fibre. That much was clear from his handling of a couple of other administrations, where he was censured because of his unethical handling of them. The people who have run the club over the past few years are hardly model citizens, so if there have been any fraudulent transactions, they are hardly likely to appoint somebody squeaky clean and of high professional integrity to investigate them.

 

As it is, there are already huge question marks over how a respected financial institution like Vantis can do a Statement of Affairs of the financial position of the club to place before the High Court and the Android somehow manages to double the debt total.

Didnt Vantis also have a cloud hanging over them?
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Gorgiesaint

Gorgiesaint

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Certain press people didn't believe this story....bet they do now.

 

I had a few doubts myself on Friday despite it being on a Portsmouth forum site because I couldn't find the original site that it referred to.

 

That said, at least the News did some investigation and Comical Andy's statement obviously confirmed the truth of the allegation. That was yesterday - so I'm surprised it has only made the NOTW so far.

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bridge too far

bridge too far

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Its not only the Android appointment that is a bit questionable, why has he appointed Lampitt CEO of Pompey when he was the FA chief investigator of Pompey?

 

Exactly!

 

I always understood that, when a company was in administration, the administrator ran the company.

 

Why appoint a CE at all?

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Crab Lungs

Crab Lungs

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Ooooh, another one enjoying Hull's situation:

 

i will smirk in there demise because they have had an easy run from the press regarding there situation listening to there ex and current chairmen have a public slanging match makes you realise how bad they are in the ****.

 

Classy fans.

 

I don't car if its hypocritical to want the Skates to go bust - they are a symbolism of everything wrong with football, moreso than Hull.

 

Die Skates, die.

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Gorgiesaint

Gorgiesaint

Posted
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Ooooh, another one enjoying Hull's situation:

 

 

 

Classy fans.

 

I don't car if its hypocritical to want the Skates to go bust - they are a symbolism of everything wrong with football, moreso than Hull.

 

Die Skates, die.

 

I was taking a look at their message boards earlier as well. The lets all lol at the scummers thread can disintegrated into a bit of infighting amongst themselves. Anyone who didn't want to agree with the title & have a reasonable debate got labelled a scummer - so I guess that confirms that we must be the reasonable, open-minded lot!!

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Um Bongo

Um Bongo

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There's a whole page on the Blue Cheats in the Express by Jim Holden.

 

Excellently written..there's more dirt to follow.

 

Can't find a link on their website, but he unravels the myth that 'Plucky Pompey' deserve to get to Wembley.

 

Cracking Stuff.

 

EVERYONE in sport is beguiled by numbers and lists – the league tables in football, the cricket scoreboards, the world rankings in golf and tennis, the horse racing results, even the catalogue of planes, trains and automobiles taken by Liverpool and Fulham to play away in Europe the other night.

Among them all last week was a list of shame, a set of numbers that shone a searchlight on the rotten culture of English football.

It was the list of so-called “ordinary creditors” of Portsmouth FC, the small guys who help to keep a football club running smoothly, but whose debts are unlikely to be paid off in full when a club goes bust.

 

This is a snippet of the list.

St John Ambulance – owed £2,702.

South Central Ambulance Service – owed £19,535.

Portsmouth Students’ Union – owed £2,955.

Cowplain Community School – owed £14,743.

Priory Community Sports Centre – owed £11,000.

King Edward School – owed £41,714.

Carol Moore (a local florist) – owed £995.

Solent Cleaners – owed £585.

Boy Scouts – owed £697.

 

You get the picture. While Portsmouth FC spent millions of pounds they didn’t have on players’ wages and agents’ fees, and while they spent many hundreds of thousands of pounds on the salary of former chief executive Peter Storrie, they neglected to pay schools and organisations that rented them sports facilities.

They neglected to pay the florist and the cleaners – and the ambulance services without which they could not stage the public event of a professional football match. This is the first despicable scandal of the saga of Portsmouth FC (they will no longer be affectionately known as Pompey on this page).

 

Perhaps these seem trifling sums of money in the context of modern football, but every penny counts if you’re a charity or a school or a small local business. We all know that from our daily lives, don’t we?

We always hear, too, about what the success of a football club can do for the atmosphere of a town or city. It’s the stock answer from within the sport about why the game has such resonance.

Portsmouth FC won the FA Cup two years ago, by spending money they didn’t have and not paying bills to local organisations. Was success worth it at that price? Or was it a phoney, tainted glory? Was it actually a betrayal of the city of Portsmouth and its people?

The club are back in the FA Cup Final this season. Some say it’s a fairytale story because they have done so despite financial ruin and going into administration.

Look at that list of shame again. Look at the unpaid debts. Look at the monstrous sum of £2.045million as the price agreed with one football agent for assistance with the deal that took Lassana Diarra out of the club to Real Madrid. Still think it’s a fairytale?

There is a second equally despicable side to the saga of Portsmouth FC – and that is what will happen now as the administrators try to sort out the overall club debt of £119m revealed last week.

They are faced with a rule imposed by the Premier League and Football League that “football creditors” must be paid in full if a club in administration is to continue playing in either league in future.

The “football creditors” are other clubs owed many millions in transfer fees – and a selection of millionaire players to whom Portsmouth FC awarded contracts they could not afford, and most of whom have now left to earn high wages elsewhere.

Peter Crouch is owed £250,000, for example. Glen Johnson is owed £235,000. They must be repaid, or else. But the £2,702 due to the St John Ambulance for providing essential medical cover is a different matter entirely.

All the “ordinary creditors” will soon be asked by Portsmouth FC to accept a fraction of the cash they are owed, and to agree to a Company Voluntary Arrangement (CVA) that would allow the club to come out of administration by writing off large chunks of its debt.

Without a CVA, the club would almost certainly be handed a 15-point deduction at the start of next season, as happened to Leeds United a few years ago, when they did not pay debts, including one to the St John Ambulance.

That is the contemptible reality of English football today. Pay off the millionaire players, and leave the small guys out of pocket.

 

Another creditor of Portsmouth FC is the taxman, HMRC, owed a staggering total of £17.1m. That’s you and me. It’s our money. Still think the FA Cup Finals are a fairytale?

The Premier League spends much time and effort trumpeting good causes they support, the charitable work of many footballers, and the fine work of clubs in the local community.

But maybe your profound admiration for that, along with mine, will be put on hold while the Premier League continues to support the grotesque rule about “football creditors”.

Professional football began in league form in 1888 in England. In the same year the St John Ambulance Brigade was formed.

They have been working at our football grounds for more than a century, and today provide medical cover at more than 70 League clubs.

It is the most potent symbol of the way money has corrupted the values and ethics and conduct of English football that those in power still believe that repaying a debt to the St John Ambulance is less important than stuffing vast wads of cash into the pockets of greedy agents, overblown administrators and millionaire players.

 

From the Daily Express.

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fromdayone

fromdayone

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Is there any possibility that with the FL and the Premier league being two separate entities that the FL wont be able to impose any points sanctions for any iregularities that occured during membership of the PL?.... bit like Ronnie Biggs comitting his crime in England then escaping to Brasil safe in the knowledge that he couldnt be extradited!

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krissyboy31

krissyboy31

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Is there any possibility that with the FL and the Premier league being two separate entities that the FL wont be able to impose any points sanctions for any iregularities that occured during membership of the PL?.... bit like Ronnie Biggs comitting his crime in England then escaping to Brasil safe in the knowledge that he couldnt be extradited!

 

They will have to exit by CVA agreement otherwise they will be in breach of FL rules and to be honest the FL seem to be more keen to make an example than the BPL.

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fromdayone

fromdayone

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They will have to exit by CVA agreement otherwise they will be in breach of FL rules and to be honest the FL seem to be more keen to make an example than the BPL.

 

Understand that but financial irregularities such as using unregistered agents would be separate from the CVA issue, I just hope that the FL will still have the right to impose penalties for offences that occured outside of their jurastiction.

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aintforever

aintforever

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Understand that but financial irregularities such as using unregistered agents would be separate from the CVA issue, I just hope that the FL will still have the right to impose penalties for offences that occured outside of their jurastiction.

 

I don't think it really matters if they have the right legally, as we found out they are a private members club and can do whatever they want.

 

We didn't break any rules when our parent company went into admin but they penalised us, Leeds got a CVA but because HRMC contested it in court they were deducted points anyway. if they want to deduct points from pompey they will, and there will be no chance of appeal from the blue few.

 

What the skates have done is much worse than Leeds so I would expect at least -17.

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krissyboy31

krissyboy31

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Understand that but financial irregularities such as using unregistered agents would be separate from the CVA issue, I just hope that the FL will still have the right to impose penalties for offences that occured outside of their jurastiction.

 

Unregistered agents would be a breach of FIFA rules and regs and if that were proven, there would be sanctions, wherever in the world they played their football.

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Channon's Sideburns

Channon's Sideburns

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So the administrators think they've done a good job, they want to use that as example of their good work!!!

 

http://www.sportingintelligence.com/2010/04/25/administration-firm-touts-for-business-on-back-of-puzzling-portsmouth-case-250401/

 

Hate to see them make a mess of anything :rolleyes:

 

Well well well.

 

I bet Chinarai's chuffed with that hourly rate.

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rooney

rooney

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As they appear to have traded illegally, prior to the Administration, the Directors at the time would be personally liable. I presume therefore, any creditor, who does not agree to take a percentage in the £, can sue those Directors? If this is not the case, does anybody know who can issue the writ for illegal trading?

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rallyboy

rallyboy

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There's definitely been a shift in public opinion, many papers carried scathing Portsmouth stories over the weekend, the 'plucky Pompey battling against the odds fairytale' has unravelled bigtime.

 

The cup win's been exposed and is forever tainted, this year's cup run is just plain illegal, and if the quoted points penalties for next season appear I would start to feel that justice has been served.

 

And the majority of their fans will need to take that on the chin without continuing to defend those that have robbed charities.

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Corporate Ho

Corporate Ho

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Classy guy on one of the Pompey boards about Hull.

 

 

After all they've been through, and they still think like that. That club is truly shameful.

 

Nice selective use of a quote. Pity you had to edit it to try and make it look bad. Why didn't you print everything the guy wrote. You girls really are quite pathetic about this. Here's the quote in full:

 

"Glad Hull are dropping, was sat next to them at fratton and the **** they were talking about our financial issues was unbelievable considering the state they are in. Glass houses, throwing stones.

 

I shall now sit back and enjoy the horror show that will most likely engulf their club this off-season. They go into admin now and they have a real chance that they wont be out of it in time."

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sticksaint

sticksaint

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On the subject of the money owed to the cancer charities,the players could all club together and pay off this debt and it would be like small change to them.Don`t know whether this has happened or not??

 

It seems to me that there is something very wrong with paying footballers sky high salaries whilst owing that amount to a charity.This kind of sums up what`s wrong with the premiership.There is something very rotten at the core of this league

 

On the one hand as a saints fan i want us to play at the highest level possible,on the other part of me would be quite happy if we never played in that league again. :-(

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Gingeletiss

Gingeletiss

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Nice selective use of a quote. Pity you had to edit it to try and make it look bad. Why didn't you print everything the guy wrote. You girls really are quite pathetic about this. Here's the quote in full:

 

"Glad Hull are dropping, was sat next to them at fratton and the **** they were talking about our financial issues was unbelievable considering the state they are in. Glass houses, throwing stones.

 

I shall now sit back and enjoy the horror show that will most likely engulf their club this off-season. They go into admin now and they have a real chance that they wont be out of it in time."

 

 

Any quotes on the latest revelations about the cheats you support, Corp Ho ho ho!

 

Don't defend the indefensible, I've just had a quick on a few of your forums, and on the whole, it appears to still be the fault of all and sunder, and not your 'club'.

 

Try being contrite, instead of smug, the footballing world is waking up to the smell of fish in Portsea, and you lot still can't see the wood for the trees.

 

Sadly, should you survive, you may still get the chance to have your web footed fans at Wembley again, as it looks like Chelski will be champions, as well as winning the FA cup. With luck though, you will have ceased to exist.

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Crab Lungs

Crab Lungs

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Any quotes on the latest revelations about the cheats you support, Corp Ho ho ho!

 

Don't defend the indefensible, I've just had a quick on a few of your forums, and on the whole, it appears to still be the fault of all and sunder, and not your 'club'.

 

Try being contrite, instead of smug, the footballing world is waking up to the smell of fish in Portsea, and you lot still can't see the wood for the trees.

 

Sadly, should you survive, you may still get the chance to have your web footed fans at Wembley again, as it looks like Chelski will be champions, as well as winning the FA cup. With luck though, you will have ceased to exist.

 

I concur.

 

Whatever was selectively mentioned, the point still remains - Portsmouth is a cesspit of a football club.

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Wes Tender

Wes Tender

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I shall now sit back and enjoy the horror show that will most likely engulf their club this off-season. They go into admin now and they have a real chance that they wont be out of it in time."

 

It will serve as good displacement therapy for you and your fellow Skates, won't it?. There's always somebody else worse off than you, isn't there? Oh. There doesn't seem to be any club in the land that is worse off than you.

 

If Hull do go into administration now, their timing will be similar to ours and we managed to get it all sorted before the start of the next season.

 

At least with Hull, there is a decent chance that they will come through administration. If you're lucky, you'll be starting next season in the fizzy pop on a much larger points deduction than them. If your luck has run out, then your club will cease to exist in its current form and you'll be several divisions below them and us.

 

But still, I'm happy for you lot that you gain some comfort and enjoyment gloating at Hull's misfortune. Mind you, that is nothing compared to the enjoyment that the Pompay train crash is giving us. Well, all except for Guided Missile, that is. I think that he will be sending you an apology soon for his nastiness towards you recently. ;)

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Crab Lungs

Crab Lungs

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See Grant is still bleating on about how 'unfair' it all is -

 

http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8642368.stm

 

does he not have an ounce of self awareness? Cant believe he has the cheek, considering the players he is using should not be on the park...

 

What an absolute ****:

 

"It's logical. This is a Cinderella story. This is what English football is about, not just about the rich."
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OldNick

OldNick

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"Someone in the FA and Premier League needs to say - we need to give them a reward," said Pompey manager Grant.

 

what.the.****.

i think since the report of their debts this week most football fans are waking upto the nonsense Grant is spouting and getting tired of it.

If it was not Pomey we would look at it differently.

I have sympathy with the way Luton have been treated but I suspect if you went on a Watford forum they would list a line of their misdemeanors that we didnt realise had happened.

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spyinthesky

spyinthesky

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Anyone know if there is any truth in the rumour that Terry Clarke (the builder, who has been on TV recently, who is owed money for work at Fratton Park) is currently working on a big extension for Mr Storrie's gaff at Hayling Island!!

 

Also, with regard to Mr Storrie, it is noticeable that he is not one of the many owed money by PFC. I guess you can say this is good financial management

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