Pompey Takeover Saga

[Smirking_Saint]

I'd take Finnan and Koroma (He was always a little starlet on FM lol)

[teamsaint]

be interesting to know how chester city fans feel about poopey offering contracts to England internationals.

 

THey have to rebuild from nothing in non league tier 5 I think.

 

Good luck to them (anyone remember the 2nd replay in the league cup i the early 70's ??).

 

And city went out of business for how much?

700K including less than £30k to the taxman.

[JackFrost]

be interesting to know how chester city fans feel about poopey offering contracts to England internationals.

 

THey have to rebuild from nothing in non league tier 5 I think.

 

Good luck to them (anyone remember the 2nd replay in the league cup i the early 70's ??).

 

And city went out of business for how much?

700K including less than £30k to the taxman.

 

Problem is Chester City weren't in the FL, they were in the Conference.

[toofarnorth]

I think the FL WILL deduct them points as they tend to make up rules as they go along for differing situations. Add to that the trials of 'arry, Storrie and Mandaric and your looking at potentially points deduction.

 

If they somehow avoid the points deduction then a combination of AA playing a blinder and the PL bailing them out, means they'll get off with merely relegation from the PL

 

The only other aspect is whether AA is in the pocket of Chainrai, whose long term intention is to liquidate the club to have flats built on FP - if the conspiracy theorists are to be believed

 

Anyone know when the Football League would need to make this decision by? Any precedents and when did they hear of the deduction? Could it go until the first weekend of the season? Sorry for all the questions.

[Gorgiesaint]

Anyone know when the Football League would need to make this decision by? Any precedents and when did they hear of the deduction? Could it go until the first weekend of the season? Sorry for all the questions.

 

I think officially they stay as members of the PL until something like 3rd June. That's when they become members of the FL (hopefully in their case).

[70's Mike]

Just reading the bit about Hreidarsson being offered a new deal. Firstly I thought he had triggered a one year extension anyway before he got injured, and secondly, if not, you would be insame to offer any deal to a 36 year old who is likely to miss half the season at best.

Also the mongs keep going on about players they can get for 10k/week after Andy Android suggested that figure as reasonable wage. On 12-15000 gates, no parachute money etc, how the hell can they pay that sort of wage? IIRC we had about half a dozen players on that or just over and that nearly ruined us.

I still cannot decide if he is

a, delusional

b, staggeringly complacent

c, playing up to what the mongs want hear

d, downright deceitful and playing whatever game it is that Chainrai is playing

e, he knows there is a cunning plan that means they will get away with it, so his lack of concern is genuine

Answers on a postcard please

or what

 

d for me

[OldNick]

I think officially they stay as members of the PL until something like 3rd June. That's when they become members of the FL (hopefully in their case).

 

I expect AA has told the FL that if they give them minus points they will not be a viable compny to buy and so he will liquidate them and that would make them look bad.

We picked a administrator who played by the book. We should have gone for one who had never read a book on business practice and administration

[Dazza82]

http://www.youtube.com/watch?v=f3sQ8bzXdfc&feature=related

 

just thought this thread needed some more entertainment lol

[JackFrost]

I expect AA has told the FL that if they give them minus points they will not be a viable compny to buy and so he will liquidate them and that would make them look bad.

We picked a administrator who played by the book. We should have gone for one who had never read a book on business practice and administration

 

I don't think the FL would be that bothered TBH They've got plenty of ammunition they could throw at Pompey. Whether AA realises that is another matter. Or it could be Chainrai's long term scheme. Who knows?

[Fowllyd]

Just reading the bit about Hreidarsson being offered a new deal. Firstly I thought he had triggered a one year extension anyway before he got injured, and secondly, if not, you would be insame to offer any deal to a 36 year old who is likely to miss half the season at best.

Also the mongs keep going on about players they can get for 10k/week after Andy Android suggested that figure as reasonable wage. On 12-15000 gates, no parachute money etc, how the hell can they pay that sort of wage? IIRC we had about half a dozen players on that or just over and that nearly ruined us.

I still cannot decide if he is

a, delusional

b, staggeringly complacent

c, playing up to what the mongs want hear

d, downright deceitful and playing whatever game it is that Chainrai is playing

e, he knows there is a cunning plan that means they will get away with it, so his lack of concern is genuine

Answers on a postcard please

 

I'll go for a mixture of © and (d), though I also think there's more than a small chance that he believes that (e) will be the case.

 

It seems from the earlier part of your post that a fair-sized coterie of their fans haven't twigged that having a £10k per week wage cap, as suggested, doesn't equate to paying lots of players £10k a week. But then such thinking would be a little advanced for them I suppose.

[explorer saint]

be interesting to know how chester city fans feel about poopey offering contracts to England internationals.

 

THey have to rebuild from nothing in non league tier 5 I think.

 

Good luck to them (anyone remember the 2nd replay in the league cup i the early 70's ??).

 

And city went out of business for how much?

700K including less than £30k to the taxman.

 

2- 0 win i think played at the Hawthorns, and yes it seems we on here are the only ones who can see this sham continuing whilst anybody who has the capability of doing anything turns a blind eye! Maybe its just us on here who gives a flying ... to their continued cheating

[suewhistle]

Anyone know how the open top bus defeat parade went on sunday?

 

As has been pointed out, it was cancelled. But phoning Portsmouth supporting friends from my village this evening just to keep in touch (no, I didn't gloat..) I was told it was because there was a big fight between Pimply fans at the big screen on the common during the final!

[Dark Munster]

Yeah but Al Fahim didn't...........

 

There are an awful lot of thick people in the World with money. They just haven't found another one yet

 

But isn't the Ice Cream Doctor one of the creditors, with a claim of £5 million? If he gets 20% of that fictitious* amount maybe he isn't as stupid as he looks.

 

* allegedly

 

http://www.portsmouth.co.uk/sport/Pompey-transfer-ban-set-to.6302753.jp

 

Some of the comments by the head up ar*e P*mpey fans are hilarious

This one's my favourite :

 

Got a feeling it is no longer "Pompey till i die" but rather "Pompey till it dies".

 

:smt042:smt042:smt042

 

There is a big difference between offering a contract and having it accepted.

 

There's also a big difference between offering a contract and honouring it if it's accepted. They could offer £20K per week, but after a month or two not pay up.....

 

.... again. :smt042

 

I wonder if the players remember their late payments from their previous contracts?

 

As the great philosopher G. W. Bush said "There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — [pauses] - shame on you. Fool me — You can't get fooled again."

 

I think officially they stay as members of the PL until something like 3rd June. That's when they become members of the FL (hopefully in their case).

 

I've marked my calendar.

[benjii]

There is a big difference between offering a contract and having it accepted.

 

IMO this is just more spin from the Android.

 

Sure, they've offered the contracts, but anyone know what's in them? It could be a contract to pay them £250 per week for all anyone knows.

 

I'd suggest everyone just chillout, relax and see how many of those contracts get accepted - none would be my guess, but at least Android can then turn round and say they were shafted by the players after offering them a new contract

 

Exactly!

 

Not sure why everyone's getting so uptight.

 

AA is just doing his usual trick of putting ******** in the public domain.

 

James will join a Prem team. Rocha will bog off.

 

Kanu and Hreidarrson may stay if no one else wants them (possible IMO). The alternative is to retire. Those two are not going to get you out of the division though. If you look a bit further down the press release you have a better idea of the players who will be featuring.

[Saint dyer]

anyone seen this? http://www.portsmouth.co.uk/sport/Pompey-are-on-brink-of.6303678.jp?CommentPage=7&CommentPageLength=10 sorry if already posted. i just dont understand how they can be evan close to agreeing one

[aintforever]

I refuse to believe that HRMC will sign a CVA for 20p in the pound.

 

It gives the green light to every club in the country to blow off their tax bill.

[Chez]

James will join a Prem team.

 

he might stay. He has earned his dough and seems settled.

[benjii]

he might stay. He has earned his dough and seems settled.

 

I suppose he might but he always struck me as someone who is pretty ambitious. He is well fit and could easily play for another five years. If ****flaps offers him a free I can't see him turning down Champs League footy.

[Guided Missile]

....Rob Lloyd, the property developer who represents an unknown potential buyer of Portsmouth, said he did not expect his client to make an offer for the club until a Company Voluntary Arrangement had been agreed with creditors.

Lloyd refused to respond to comments from Portsmouth's administrator, Andrew Andronikou, who questioned the authenticity of his interest.

Lloyd says his client is still interested in buying the club. "We're still cracking on," he said, "but I don't think anything will happen until the CVA."...

 

Pinnacle Mark II, by the look of things...

[rallyboy]

a dreamer with no cash waiting on a fantasist making it up as he goes.

 

Not exactly a heavyweight battle of wills, or the potential for a happy ending.

Less like Pinnacle, more Laurel and Hardy.

[TopGun]

he might stay. He has earned his dough and seems settled.

 

Settled... in Bassett it might be added!

Edited 20 May, 2010 by TopGun

[Kingsbridge Saint]

I refuse to believe that HRMC will sign a CVA for 20p in the pound.

 

It gives the green light to every club in the country to blow off their tax bill.

 

If I ran a football club that had arrears of tax - or was thinking of running some up to fund a promotion campaign - I would be watching the way HMRC deal with Pompey very closely. If they get away with it, by which I mean the team gets to carry on without further penalty, then blowing the Revenue off becomes a very attractive strategy.

[CB Saint]

As I understand it the FL will impose penalties if a CVA has not been agreed. At what date does the CVA have to be in place? Pompey become a FL club on the 4th June and everything AA is saying the CVA will be agreed (or not) mid june.

[Fowllyd]

If I ran a football club that had arrears of tax - or was thinking of running some up to fund a promotion campaign - I would be watching the way HMRC deal with Pompey very closely. If they get away with it, by which I mean the team gets to carry on without further penalty, then blowing the Revenue off becomes a very attractive strategy.

 

But isn't HMRC planning on going for the directors of PCFC (past and present) once it gets liquidated, as per the proposed CVA? If they can sting Storrie and others for a considerable sum, then that should stand as a pretty powerful deterrent to others.

 

I doubt anyway that directors would plan to fall behind on their tax payments; it's more likely to happen as a result of a failed gamble or, in Pompey's case, reckless spending in the assumption that there'd always be somebody there to pick up the tab. Latterly, of course, they carried on spending even though they knew full well that there was no such person there, which takes their wrongdoing to a whole new level. Which is just what Storrie promised to do, come to think of it.

[Toomer]

How the hell can they offer players new contracts??????????

[Joey-deacons-left-nut]

How the hell can they offer players new contracts??????????

 

Probably to increase their value.

 

If you've got a player with 1 year left on his contract he's goign to cost less than a player with 3 years left.

 

That's all it is, he's hoping that some of the promising youngsters fall for it...

 

And theres a world of difference between a contract being offered and one being signed.

[Frank's cousin]

But isn't HMRC planning on going for the directors of PCFC (past and present) once it gets liquidated, as per the proposed CVA? If they can sting Storrie and others for a considerable sum, then that should stand as a pretty powerful deterrent to others.

 

I doubt anyway that directors would plan to fall behind on their tax payments; it's more likely to happen as a result of a failed gamble or, in Pompey's case, reckless spending in the assumption that there'd always be somebody there to pick up the tab. Latterly, of course, they carried on spending even though they knew full well that there was no such person there, which takes their wrongdoing to a whole new level. Which is just what Storrie promised to do, come to think of it.

 

Interesting - I am not sure of teh legalities, so someone with a knowledge of TAX law should correct, but I guess that by liquidating the comapny, the revenue will be able to go after the ex owners and directors.... especially those who have received their 20p for monies owed... I wonder what Chanrai is thinking as he may well get 100% as a preferred creditor, buyt could he lose it all to HMRC? Afterall he is was an owner who failed in tehir duty to ensure all Taxes were paid??

[Frank's cousin]

How the hell can they offer players new contracts??????????

 

I think they can offer a preliminary contract subject to teh club comming out of administration which it could possibly do after agreement on the CVA?

[Scummer]

He is well fit and could easily play for another five years.

 

Missed a third of the season this year. Some of that was when he was being kept out by Begovic, but I think he's had 3 or 4 separate injuries.

[Foxstone]

Interesting - I am not sure of teh legalities' date=' so someone with a knowledge of TAX law should correct, but I guess that by liquidating the comapny, the revenue will be able to go after the ex owners and directors.... especially those who have received their 20p for monies owed... [b']I wonder what Chanrai is thinking as he may well get 100% as a preferred creditor, buyt could he lose it all to HMRC? Afterall he is was an owner who failed in tehir duty to ensure all Taxes were paid??

[/b]

 

 

That being the case I would expect him to return to his normal domicile overseas before it gets to that stage.

 

He is not a resident of the UK and I would think HMRC would have great difficulty in collecting anything from him.

 

Same for Slasher, Bin Trump and Al-Mirage too !

 

Only perhaps Storrie-Boy can be caught in this way.

 

All IMHO of course...

[Panda]

Interesting - I am not sure of teh legalities' date=' so someone with a knowledge of TAX law should correct, but I guess that by liquidating the comapny, the revenue will be able to go after the ex owners and directors.... especially those who have received their 20p for monies owed... I wonder what Chanrai is thinking as he may well get 100% as a preferred creditor, buyt could he lose it all to HMRC? Afterall he is was an owner who failed in tehir duty to ensure all Taxes were paid??[/quote']

 

Surely HMRC have no chance of prosecuting Chanrai, Gaydamak, al Fahim, etc as they are not UK residents and they, and their accounts, will be overseas. Can you sequester funds from an overseas bank account? How would you ever get them to court? Will Mandric suddenly disappear back to the US before his case comes up? I can't see HMRC getting a penny from the past owners/directors other than Storrie, and from Redknapp for tax evasion. They certainly won't get much from the club even though there must still be money there to hire a new CEO, keep paying Storrie as a consultant, meet current salaries and operating costs, offer new contracts to players, and offer all the current debtors the princely sum of 5p in the pound for five years.

 

As I think has been mentioned before on this thread there is more than just a smell of fish on this thread...

[dronskisaint]

Benji wrote

 

'Kanu and Hreidarrson may stay if no one else wants them (possible IMO). The alternative is to retire. Those two are not going to get you out of the division though'

 

I think you'll find that Hreidearrson (sp?) in particular has done a sterling job of getting his clubs out of their respective divisions....unfortunately (but only for them!:-)) he only has a 'down' button :-)

[PaulSaint]

Under the new CVA it states that they liquidate in 9 months and immediately reform under a new name. Can the FL then give them a 10 point penalty at the liquidation stage i.e. a second points penalty for their shenanigans, oh and then a further-2 for doing it ten years ago ?

 

:toimonster:

[slickmick]

But isn't HMRC planning on going for the directors of PCFC (past and present) once it gets liquidated, as per the proposed CVA? If they can sting Storrie and others for a considerable sum, then that should stand as a pretty powerful deterrent to others.

 

I doubt anyway that directors would plan to fall behind on their tax payments; it's more likely to happen as a result of a failed gamble or, in Pompey's case, reckless spending in the assumption that there'd always be somebody there to pick up the tab. Latterly, of course, they carried on spending even though they knew full well that there was no such person there, which takes their wrongdoing to a whole new level. Which is just what Storrie promised to do, come to think of it.

 

Interesting - I am not sure of teh legalities' date=' so someone with a knowledge of TAX law should correct, but I guess that by liquidating the comapny, the revenue will be able to go after the ex owners and directors.... especially those who have received their 20p for monies owed... I wonder what Chanrai is thinking as he may well get 100% as a preferred creditor, buyt could he lose it all to HMRC? Afterall he is was an owner who failed in tehir duty to ensure all Taxes were paid??[/quote']

 

My guess would be that HMRC will block a CVA which will send PFC into liquidation, thus still allowing them to go after ex directors/owners.

 

 

Surely HMRC have no chance of prosecuting Chanrai, Gaydamak, al Fahim, etc as they are not UK residents and they, and their accounts, will be overseas. Can you sequester funds from an overseas bank account? How would you ever get them to court? Will Mandric suddenly disappear back to the US before his case comes up? I can't see HMRC getting a penny from the past owners/directors other than Storrie, and from Redknapp for tax evasion. They certainly won't get much from the club even though there must still be money there to hire a new CEO, keep paying Storrie as a consultant, meet current salaries and operating costs, offer new contracts to players, and offer all the current debtors the princely sum of 5p in the pound for five years.

 

As I think has been mentioned before on this thread there is more than just a smell of fish on this thread...

 

 

I agree, some will get away with it but those that don't will be used as an example to the rest of the Football and Premier leagues.

[Doctoroncall]

Latterly, of course, they carried on spending...

 

This is the primary reason the FL need to punish them, regardless of whether there was anyone there to save/invest in them.

 

So far a £1m find as punishment doesn't equate to the benefit they're had over other teams.

[Sour Mash]

Just heard they're touring the USA pre-season! WTF?

[OldNick]

it seems that at present the toaster is not working.

[saintjay77]

....Rob Lloyd, the property developer who represents an unknown potential buyer of Portsmouth, said he did not expect his client to make an offer for the club until a Company Voluntary Arrangement had been agreed with creditors.

Lloyd refused to respond to comments from Portsmouth's administrator, Andrew Andronikou, who questioned the authenticity of his interest.

Lloyd says his client is still interested in buying the club. "We're still cracking on," he said, "but I don't think anything will happen until the CVA."...

 

Pinnacle Mark II, by the look of things...

 

Pinnacle Mark I was soon followed by Marcus Mark Savior Of all things Saints!!!

 

Lets hope Pinnacle Mark II is not followed so successfully.

[saintjay77]

Just heard they're touring the USA pre-season! WTF?

 

Tax free tour?

Edited 20 May, 2010 by saintjay77

[ericofarabia]

it seems that at present the toaster is not working.

:smt042

 

Hopefully somebody will be along to either plug it in or switch it on soon

[Wes Tender]

Just read that the Skates are holding up the signing of Grant as West Ham manager by their insistence that they also take on £40000 a week Tal Ben Haim too. The article states that the Skates were kindly waiving the compensation fee for Grant (which was probably not payable anyway, as they had breached his contract by not paying him) and that West Ham were confident that things could be sorted and that James would probably follow Grant there. So what would be the situation with them having two top class goalies? Who would warm the bench between Green and James?

 

http://www.dailyexpress.co.uk/posts/view/176230/EXCLUSIVE-New-hitch-in-Avram-Grant-switch/

 

What a blithering idiot the Android is.

[Saint_John]

As I understand it the FL will impose penalties if a CVA has not been agreed. At what date does the CVA have to be in place? Pompey become a FL club on the 4th June and everything AA is saying the CVA will be agreed (or not) mid june.

 

I would take everything that Comical Ali says with a pinch of salt, remember he said he would get the 9 points removed, get their Transfer Embargo lifted, get them into Europe etc.

 

Whenever he says anything I have visions of him standing on a roof top with American tanks in the background, one tank has "No CVA" written on the side and another has "FA Charges".

 

To answer your question, this article from the Daily Hate says that Darlington only got the Golden Share in the final week before the season started last year to escaped further points penalty.

http://www.dailymail.co.uk/sport/football/article-1204953/Colin-Todds-Darlington-avoid-points-deduction-coming-administration.html?ITO=1490

So I would assume end of June, then the 28 day "Cooling off" period for legal challenges in order to get the golden share in early August.

 

(Articles about Darlington's CVA if you want to read - http://www.thenorthernecho.co.uk/sport/football/darlington/4421431.Creditors_to_get_pittance_from_club/

http://www.thenorthernecho.co.uk/sport/football/darlington/crisis/4440821.quakers__cva_meeting_postponed/

- very little owed in Tax and meeting was end of June)

 

HOWEVER, don't worry, ask yourself are the HMRC going to allow the SAME GROUP of Israel Businessmen (some people call them crooks) to remain in power (Storrieteller at Wembley on Sat, Azougy + Jacob for the S/F etc).

 

HMRC are playing the long game and the FA already have somebody in "looking at the books".

[Channon's Sideburns]

Android was on Solent this morning - explaining the reasons for why he put Chinarai alongside Prince William in the Royal Box on Saturday....

 

Plus if it was Chinarai's son as mascot....

 

'Preferential treatment for an owner who's not the owner but may just yet be the new owner who doesn't really want it but will take it as long as he's the owner with much lower debt to begin with handy that he appointed an administrator and paid for him wasn't it?'

 

I couldn't shorten that so that the cesspit of PCFC could be described any better.

 

We're on 525 pages and the FA can't be arsed.

[Lets B Avenue]

Must be something to do with them buying their Kosher meat from the same butcher. Yet another of the laughable creditors.

[Frank's cousin]

Surely HMRC have no chance of prosecuting Chanrai, Gaydamak, al Fahim, etc as they are not UK residents and they, and their accounts, will be overseas. Can you sequester funds from an overseas bank account? How would you ever get them to court? Will Mandric suddenly disappear back to the US before his case comes up? I can't see HMRC getting a penny from the past owners/directors other than Storrie, and from Redknapp for tax evasion. They certainly won't get much from the club even though there must still be money there to hire a new CEO, keep paying Storrie as a consultant, meet current salaries and operating costs, offer new contracts to players, and offer all the current debtors the princely sum of 5p in the pound for five years.

 

As I think has been mentioned before on this thread there is more than just a smell of fish on this thread...

 

Hi

 

yup agree from a personal earnings perspective... but i am talking about monies taken direct form the club which is a UK registered business which has defaulted on its tax liabilities - in effect the monies owed to Chanrai (15 mil?) are coming from the coffers of the club (parachute payments) so would Chanrai still have protection against HMRC going after that? I admit I dont know enough about t, but if Storrieteller is the only director they could go after if the the club is liquidated and asetts transfered to a new club, he is hardly worth it for the HMRC in terms of bankrupting him for the sake of a few mil they might be able to squeeze out... how much is he worth?

 

So they must have something else up his sleeve?

[redkeith]

Daily Express say that there is ahitch with Grants move to the Hammers, as the Skates are insisting that he takes Ben Haim wit him ( £40,000 grand a week wages). Also says that Grant isa confident that he can take James with him, though strangely for the Express there is no mention of Lady Di.

[Psycrow]

Daily Express say that there is ahitch with Grants move to the Hammers, as the Skates are insisting that he takes Ben Haim wit him ( £40,000 grand a week wages). Also says that Grant isa confident that he can take James with him, though strangely for the Express there is no mention of Lady Di.

 

brilliant

[sidthesquid]

http://www.portsmouth.co.uk/frattonlatest/Pompey-summer-sale-all-set.6307385.jp

 

Look out for quote of the close season.....

 

Now it's a case of waiting for the offers to come flooding in for the Fratton Park summer sales

 

I still reckon they will do well to raise any money at all as they try to shed those big earners

Edited 20 May, 2010 by sidthesquid

[Gingeletiss]

Ah! memories

 

Published Date: 17 May 2005

 

POMPEY have vowed not to follow Saints into the type of financial meltdown reaped by relegation.

 

The Blues have pledged not to go into debt to build their Premiership team or a new stadium.

Saints have plunged into the Championship with reported debts of £23m on their St Mary's ground.

Relegation will cost Saints around £17m in lost Sky revenue, while gates will drop.

Chairman Rupert Lowe has been shrewd by inserting a clause in players' contracts to cut wages upon relegation.

But he still faces pruning the biggest wage bill and squad of the three relegated clubs.

Pompey made a £3m profit last season – and have trimmed an estimated £6m off their annual salaries by releasing 16 players since November.

Work is due to start on a new ground in August – with costs offset by the Pompey Village development, Premiership revenue and prudent housekeeping.

Blues chief executive Peter Storrie said: 'If you chase dreams and let finances get out of control, you go out of business.

'But if you're clever, that doesn't happen. It all boils down to not getting into debt. You can't spend more than the income coming in. That's why we're trying to make prudent decisions.

'Wages and transfer fees are where the money goes. That's the thing you can't let spiral. The wage bill has to be sensible in relation to the income.

'We're getting the balance right. We brought in too many players in the past, but now were remedying that.

'Chelsea operate with a smaller squad of around 25 players, and we have the same ideals. In the past we've had 44 players.'

[rallyboy]

The FA is waiting patiently and has made noises before about the club not being under their jurisdiction until June 3rd - I think we will see fireworks after that, or at least the toaster coming out of it's box.

 

And I don't see why the taxman would write off chasing the £35M to try and get something out of the likes of Storrie, their main target must still be the business itself.

 

So that little light at the end of their tunnel is in fact the taxman and the FA adjusting the sights on a Gaydamak autograph edition rocket launcher.