Pompey Takeover Saga

[Jimmy_D]

No fans would have got behind their team like Pompey fans?

 

Didn't we take the same number of fans to Wembley in one minor final as they took over two trips in the FA Cup final and semi final?

[Matthew Le God]

No fans would have got behind their team like Pompey fans?

 

Didn't we take the same number of fans to Wembley in one minor final as they took over two trips in the FA Cup final and semi final?

 

That is a bit unfair as FA cup final and semi final allocations are much smaller.

[rpb]

That is a bit unfair as FA cup final and semi final allocations are much smaller.

 

That's true.

 

In which case, how about the 30 000+ crowd that went to the Dell the Monday after we won the cup compared to the 7 000 which 'filled' Fratton the Monday after they did?

[FMPR]

That would be a Kanu charity game would it not?

[EastleighSoulBoy]

Reading some of the replies, some of them are really clued up. Interesting that one mentions that the administration is what some of us said at the time that it smelt of a pre-pact deal. Shedding the debt but then coming out free of debt. A real s####y trick.

 

Hmmm, Post #13 by Docky shows he's up to speed.

 

I can't see how a CVA (that has to be in the best interests of the creditors) can be put forward - yet alone agreed if Andronikou is only now seeking new owners.

The fact that it has suggests that the process has been a pre-pack debt shedding exercise - and as such HMRC will almost certainly challenge it.

By only now seeking new owners he has as much as declared that the CVA proposal was a sham, and he has not acted in accordance with his responsibilities.

Unless I'm missing something here....

 

Almost the words of a Saint perchance?

[Lets B Avenue]

That would be a Kanu charity game would it not?

 

Did he ever get the money from it?

[Saint in Paradise]

That would be a Kanu charity game would it not?

 

As was the game for Mr Channon that the 30,000 plus attended at the Dell

 

.

[rpb]

That would be a Kanu charity game would it not?

 

Indeed it was. Kanu had just given them their greatest moment in over 60 years and the ground wasn't even half full!

[rallyboy]

at least he got paid unlike the man who lifted the trophy.

 

Imagine if Peter Rodrigues had never got his wages in 76 and the club offered him 3p a year per £?

 

They celebrate the trophy but gloss over the theft and criminality that surrounds it.

[JustMike]

That is a bit unfair as FA cup final and semi final allocations are much smaller.

 

not really unfair seeing as they struggled to sell their "much smaller" allocation!

[Saint Lindford]

not really unfair seeing as they struggled to sell their "much smaller" allocation!

 

The only reason they sold their allocation was because hundreds if not thousands of Chelsea fans bought their tickets.....

[Matthew Le God]

A loophole that consists of a verbal agreement with Peter Storrie!

 

I wonder if the Football League will accept his word?

 

http://www.portsmouth.co.uk/frattonlatest/Contract-loophole-could-benefit-Kanu.6384018.jp

[lumuah]

A loophole that consists of a verbal agreement with Peter Storrie!

 

I wonder if the Football League will accept his word?

 

http://www.portsmouth.co.uk/frattonlatest/Contract-loophole-could-benefit-Kanu.6384018.jp

 

Valid point from a skate in the reply:

 

euroman,

25/06/2010 10:50:52

Surely a contract extention will be at the same rate as the previous. Does this mean we will have Kanu on (what i assume are) quite high wages.???

 

Also will be intersting to see how many players we have on the 1st day of training.

[OldNick]

A loophole that consists of a verbal agreement with Peter Storrie!

 

I wonder if the Football League will accept his word?

 

http://www.portsmouth.co.uk/frattonlatest/Contract-loophole-could-benefit-Kanu.6384018.jp

yep and there were verbal agreements with all the players they want to resign but not for the ones they dont Lol i bet it wasn't on the 10k a week cap either

[angelman]

Verbal contracts aren't worth the paper they are written on, as the old but very true cliché goes.

 

And why would someone of Kanu's (dubious) age not have it in writing? Smells a bit fishy to me.

[rallyboy]

if they can hang onto Kanu and James they will be bankrupt again before Christmas.

 

Wakey wakey, it's time to offload players to stabilise the business, not build a squad for the imaginary Europa League campaign that AA is still working on, and charging for.

 

If he continues to work on team strengthening he will turn a damaged club into a liquidated club.

And if it's all just crazy talk to sell season tickets, there's no change there, and some of the fans aren't as dim as he thinks.

 

Some aren't, many are.

[Whitey Grandad]

Verbal contracts aren't worth the paper they are written on, as the old but very true cliché goes.

 

Usually attributed to Sam Goldwyn. http://www.rinkworks.com/said/samuelgoldwyn.shtml

[Wes Tender]

As some unusally astute Skate commented on the story, why would the FL trust the word of somebody like Storrie who is soon to face criminal charges of tax evasion? This is would hardly be the word of somebody noted for his high ethical and moral standards.

[Corporate Ho]

1. The vast majority of your fans dont actually believe the club have done anything wrong. They refuse to accept that the financial management of the club and approach taken directly led to a vast competitive advantage. Now had that been sustainable and serviceable as say chelski or man u, then its no story, becasue as some have pointed out that is the state of the engliash game right or wrong, however, because its was not sustainable it is in effect a policy that makes the advantage unfair at ebst and cheating at worst. Its the failure of many of your fans to recognise this that has hit a nerve.

 

so let me get this straight, chelsea doing it is alright because abramovic is funding them but because it was gaydamak funding us it was wrong? Abramovic could stop funding chelsea and they would immediately be in the same boat we were. Chelsea's position is only sustainable as long as an owner pours money into the club. Yes, we know now that the money was putting in was via loans but no-one knew that at the time. Far from the "we always told you what was going on" line that most saints fans on here trot out, at the time all i heard was that he was using his father's money.

 

2. Saints did follow a similar path in the ccc. We spent money that was not borrowed, butthat should have been put aside to cover the contractual obligations if we failed to get promoted back to the prem... On a push to do just that. It was not debt at that time though but cash assets that we should have 'saved for the rainy day' - we got beaten on pens in teh playoffs, failed in promotion and then struggled - contracts we could not really afford and no one wanting the players - but we are talking about small amounts in comparison - however we went into admin, and took our punishment.

 

small amounts or large amounts, the principle is the same. You looked to gain an advantage over other clubs in the division. I was constantly told that pompey were wrong and bought their way into the pl due to the collapse of itv digital. However, when you spent more than any club in the league it was fine. There were plenty of comments crowing about how much money you were spending and how you'd spent more than pompey had that close season. Revising history is something saints fans on this website do particularly well. I often get told that pompey fans should have questioned gaydamak's spending more (whatever good it would have done god alone knows) but i didn't see any of you lot showing great concern that summer. Just a naked desire to get back to the pl

 

3. Many pompey fans are rightly astounded at the shear size of th debt but seem to be blaming anyone but the club for this - eg its the prems fault for allowing it happen, or allowing those owners who made promises to take on the club.. What is not seemingly understood is that the fit and proper test does not demand someone has cash to donate to the to cover the debt and invest further in the business... No owner is under any obligation to do this, but they are under obligation to manage the finance well.

 

but what is the size of the debt? I said weeks (maybe months) ago that the money "owed" to the likes of gaydamak was completely false but most on here were too busy laughing at pfc to accept what i said. As for the fappt, it's just a test for someone to become a director of a club, not for the prospective owner. But let me ask you a question. If liebherr wanted to sell up would you be happy for just anyone to buy the club or would you want to fl to make sure the could actually run the club before agreeing any deal?

 

4. The fans are not at fault - that is true, but fans cannot on the one hand celebrate success without acknowledgeing teh advantage that the borrowings and thus debt has enabled, yet complain afterwards that. Fans new the debts were rising, some 30 mil plus during your cup win season, but no one was complaining when further spending occured to reinforce harry's team... It was ignored.

 

of course we weren't compaining because one one hand the club were experiencing success and secondly because we believed gaydamak was spending his own money on funding it. So did you lot at the time (or at elast believed it to be his dad's money). Hindsight's a great thing but stop banging on that you lot were all pointing it out at the time because you weren't. In fact, before one of you came up with the idea that we'd "cheated" our way to win the cup all i heard on here was that we only won it because we got a lucky draw against lower league teams. Funny that. And be honest, if it had been you instead of us none of you would have been complaining either

 

5. Since admin, when teh size of teh debt seemed to grow almost daily, there have been many inconsistencies between what is published as requirements by the regulatory authorities when a business is in admin and what aa says and acts publically. Now it may be that we dont fully understand the subtlties of the regulations of admin, but one thing is clear, aa does not seem to be acting like a true administrator - but more like a new chairman. Yes its truethat the administrator has to find a balance between what is acceptable to creditors and looking to see if there are ways to keep the business afloat and back on the track to financial health. So how on earth can he commit to 10 mil pa wage bills, when offering such a poor cva return to both the hmrc and the other creditors? It may well be within the rules legally, but ethically it stinks and those friends of mine i speak to know it does. It taints the successes of recent years and should pompey by some miracle manage to scrape back up (because they have ironically been saved by the prems increase in parachute payments - - which had those levels been avaiable to us would have meant we would never had had our problems), after having wirtten off some 80 mil of debt, and only had -9 points in penalty that had no impact anyway, you have to admit you would have benefitted from a system that changed at the right time. Clubs that have not had that luck would be right to feel agreived... Surely? Its this potential for 'having got away with it' that causes the most bitterness, and is it wrong to feel it, given the ethicas of the situation? Especially as the fundementals of sport are about fairness and the smae rules for all?

 

two points here. Most pompey fans (at least the ones i know and on the message boards) have been completely anti aa since the day he was appointed as his links with chainrai are far too close for comfort. But the point that we've written off £80m of "debt" only holds water if you believe that we actually owed £138m. Hmrc aren't owed the £35m they're claiming. The big part they're upset about is the payment of image rights. Morally right or wrong, pompey aren't the only club to pay these and at present it's not illegal to do so. So for hmrc to try and claim something retrospectively seems odd. Yes we owe back taxes but even then the amount would have been reduced by aound £5-£6m if they's accepted pfc's offer of that amount back in january which they refused saying they wanted the whole amount in one block.

 

6. We now have a wealthy owner, who is ambitious, but he is also demanding we live within our means - something that for me is a good thing, because any success we do eventually have will taste so much sweeter because of it.

 

let's wait and see the accounts and see your wages to turnover ratio before getting too excited about living within your means. Most saints fans i know are of the opinion that there's no way you're getting the kind of players you're signing without liebherr adding extra funding

 

hth

[Depressed of Shirley]

I thought it was funded by a loan Corpy, because Private Eye raised the fact that Standard Chartered had loaned money to GayBoy, with the club as security in early 2008. Whilst I accept that Private Eye is a bit highbrow for most of the inbreds in skatemouth, I would have thought a true man of the world like you wopuld have read it, and possibly asked some questions of all your "top contacts" at the club.

[Wes Tender]

Frank's Cousin:

We now have a wealthy owner, who is ambitious, but he is also demanding we live within our means - something that for me is a good thing, because any success we do eventually have will taste so much sweeter because of it.

 

Corporate Ho:

let's wait and see the accounts and see your wages to turnover ratio before getting too excited about living within your means. Most saints fans i know are of the opinion that there's no way you're getting the kind of players you're signing without liebherr adding extra funding

 

I really can't be bothered to go over the same old ground as you cover above. Comparisons between Abramovich and Gaydamak aren't very helpful. I'd much rather have Liebherr, whose wealth is untainted by association with any dubiousness about how it was amassed. I'd rather prefer also the steady approach he has brought to the progression of our club, without flinging money about to buy those players that he could afford but chooses not to, preferring instead to buy players suited to the division we are in and perhaps the Championship next year. As revenues increase further as we progress back to the Premiership, undoubtedly we will buy the players needed to keep us there.

 

You don't hold the monopoly of fans that don't know the true picture, or whose judgement of a situation might be faulty. It just so happens that the sort of Saints fans you know hold one opinion on whether ML (or more correctly Cortese on his behalf) is failing to balance the books, whereas those that I know believe differently. Their opinion, which I share, is that the increased revenue from much higher attendances and the resultant increases in merchandising and match day revenues, have probably cancelled out the increased expenditure on players coming in. There is absolutely no evidence to the contrary currently, so you look a bit weak using it as the basis of your argument that we are guilty of the same overspending as yourselves, albeit at a miniscule level by comparison.

 

Should you get some concrete evidence to support your conjecture, by all means lay it in front of us. In the meantime, probably more sensible to deal in facts.

[100%Red&White]

I thought it was funded by a loan Corpy, because Private Eye raised the fact that Standard Chartered had loaned money to GayBoy, with the club as security in early 2008. Whilst I accept that Private Eye is a bit highbrow for most of the inbreds in skatemouth, I would have thought a true man of the world like you wopuld have read it, and possibly asked some questions of all your "top contacts" at the club.

 

To be fair, she was probably heavily tied up with Riquelme/Maradonna/next mega-rich owner/new stadium construction/etc./etc. to be bringing us such trivial information.

[Doctoroncall]

hth

 

Abramovic has converted his loan to liquidity in the club, probably to make sure Chelsea can comply with UEFA regs for entry into the CL but that says a lot to write off so much money. The only issue they have now is meeting the running costs. Also they have been submitting accounts on time. Something Gaydamak didn't do on both counts or 'gift' the club money like Lerner has to Villa. Why wait for rival fans to start asking questions about Gaydamak? Surely, it would be in your own interest to do so from the start.

[Gingeletiss]

Methinks the lights are starting to be turned on around Portsea Island!

 

 

 

betalucky User is offline

The first team squad on the OS shows us with 19 senior players, one of whom is long-term injured, and at least two of whom we cannot re-sign even if the players choose to do so, so that leaves 16 and no goalkeepers. Add Nugent makes 17.

In order to fund the CVA, we are told we need to raise £15 Million in transfer fees. I don't believe we can do it, but the closest we can get would require selling at least Nugent, Boateng, Belhadj, Utaka, Mokoena, Mullins and Diop. So that leaves 11. Plus we desperately want ben Haim of our books, that would be 10.

We cannot sign anyone, we are told, until at least July 15. But the FL will need some proof of funding and presumably some kind of meeting after that date, so let's be optimistic and say we might achieve it in a week. So let's say Friday July 23.

We are touring America from July 12 to 24, OK let's say we can play those games with unregistered players from the academy, but that means Cotterill getting back on Sunday 25 with two weeks to the opening League game.

So we are looking pretty screwed just from that, but if there is any other delay, such as an HMRC appeal or the FL saying that we need to have some certainty of our ownership, then we will quite clearly be unable to complete our first fixtures which begin on August 7.

I am not talking about us fielding a weak team, that seems inevitable in the early games like last season. I am talking about us not even being able to put out a bare XI, let alone any subs.

The whole transfer embargo thing is bloody ridiculous. We have a tiny squad anyway. We should at least be allowed to sign players who are already with the Club, and also to bring in new players on the basis of one out, one in

Of course I can well understand why the FL don't want to do that, but if they stick to their guns until the bitter end and then something goes wrong, the consequences would not bear thinking about.

In principle we can still play even while we are still in administration. But not without a squad we can't.

 

pompeydiehard User is offline

Beta right,we also supposedly have a friendly against H@W in a week or so time,not sure of the date .How are we going to fulfill the fixtures .

 

betalucky User is offline

I've checked it out, we actually do need an owner. The Football League Share belongs to the owners not to the Club, and they won't give the Share to a club in administration. So what we have now is a kind of associate membership, which allows us to fulfill our fixtures and sell players but not to do much else. And that's the way it will stay until we get granted our FL Share.

 

bwblue User is offline

AA has made it perfectly clear; we must have a new owner in place IMMEDIATELY if we are going to have a chance of fielding a competitive team in 2010/11. We have now reached the most important stage of the whole process and it could still go one way or the other it seems. Definitely squeeky bum time.

 

betalucky User is offline

'bwblue' wrote at 09:04 on 25 Jun:

AA has made it perfectly clear; we must have a new owner in place IMMEDIATELY if we are going to have a chance of fielding a competitive team in 2010/11. We have now reached the most important stage of the whole process and it could still go one way or the other it seems. Definitely squeeky bum time.

Yes he did, but I just thought he was being a drama queen. I thought we had the option to play a season in administration. Which we do theoretically, but with a transfer embargo in place the only way to play would be to keep the players that we really need to sell to raise money for the CVA.

 

suicide User is offline

Lloydd says his consortium have made an offer it's about time that AA came clean and gave us some detail.

Feeding tit bits to an already disenchanted fan base won't wash.

We need some positive news without caveats or reservations and we need it from the man controlling this clubs destiny.

 

lovedeanblue User is online

The FL are a "joke" with even goalie emergencies, ask Kevin Dillon & the legend Aldershot's goalie coach. Jamie Young their keeper was injured in the play off 1st Leg v Rotherham. Man City in the Premier had been granted after all a replacement despite having 8 or 9 fit keepers on their books of all levels. Aldershot were turned down by the FL and had to play the 2nd leg with a very young inexperienced keeper on the bench. In the end it didn't matter Aldershot went out and he stayed on the bench. My point is, it could have mattered. If we want help from the FL, don't hold our breath :/ :/

 

KENWRIGHT User is offline

I stand corrected, according to the Snooze the minimum squad size is 20.

And apparently we already have 27.

How they make that out is beyond me.

 

 

lovedeanblue User is online

I stand corrected, according to the Snooze the minimum squad size is 20.

And apparently we already have 27.

How they make that out is beyond me.

Including academy staff Ken is the only way I can see

>

[Wes Tender]

What they really mean, is that once they have sold all of their International players, the ones whom they bought and couldn't afford as they were trading illegally whilst insolvent, then they will only have a squad of reserves and youth team players.

 

At long last they will experience what a team has to suffer when in this position. We had to play a season with a team of has-been journeymen and youngsters and that was even before we were in administration. Welcome to the real World and cold reality. But as yours are the best fans in the World, I'm sure that attendance numbers will swell as everybody gets behind the team to support them, regardless of the league you're in, or the lack of star quality of the players.

[spyinthesky]

Can we help our neighbours by gifting then Pulis, Forecast etc.

 

Notice none of the Soton based businesses, including SFC, disputed the CVA whereas at least one Pompey based company did

[View From The Top]

I think Corp needs to speak to his "well placed source at the club", who he sees socially every two weeks or so, to find out what's happening regarding Maradona signing after the WC. Is it still on alongside the Riqualme signing? Will they debut open the new stadium?

Edited 25 June, 2010 by View From The Top

[70's Mike]

I think Corp needs to speak to his "well placed source at the club", who he sees socially every two weeks or so, to find out what's happening regarding Maradona signing after the WC. Is it still on alongside the Riqualme signing? We they debut open the new stadium?

 

no can do , source is in South Africa scounting for players, Riqualme is off but they have spotted some lad called Messi who will help fill fratton

[Matthew Le God]

The football administrator is cheating. A cheat is running the football club!

 

http://www.portsmouth.co.uk/sport/Pompey-face-keeper-crisis.6383994.jp?CommentPage=1&CommentPageLength=10#comments

 

AA wants dispensation to sign James (he can't sign a deal under the embargo) and neither could Ashdown (who was released).

 

However... academy keeper Tommy Smith was released. Smith is under 24 and so would have been able to sign a contract. Yet they choose to release Smith.

 

AA doesn't have a leg to stand on.

Edited 25 June, 2010 by Matthew Le God

[Gorgiesaint]

I thought it was funded by a loan Corpy, because Private Eye raised the fact that Standard Chartered had loaned money to GayBoy, with the club as security in early 2008. Whilst I accept that Private Eye is a bit highbrow for most of the inbreds in skatemouth, I would have thought a true man of the world like you wopuld have read it, and possibly asked some questions of all your "top contacts" at the club.

 

Call me a pedant if you want, but the loan came from Standard Bank of South Africa - not Standard Chartered who are completely different.

[Danish Saint]

Is AA the administrator or the chairman/manager of Pompey?

 

This is just so stupid! Why would AA even care? It's not in his job description to find a goalkeeper, but to find a buyer for the club.

Maybe if he was doing more of what he was supposed to be doing in the first place, this wouldn't be a problem....for the new owner and the new manager.

[seaempty]

It's making Lampitt look like a muppet.

[Depressed of Shirley]

Call me a pedant if you want, but the loan came from Standard Bank of South Africa - not Standard Chartered who are completely different.

 

It may have been my mistake, but Private Eye have been known to incorrectly report things.

[Gorgiesaint]

It may have been my mistake, but Private Eye have been known to incorrectly report things.

 

Don't worry, it's been quoted incorrectly on here a few times. As I said it's a pedant thing!!

[View From The Top]

I feel that the skate bas**rds are just about to find out how unforgiving the FL are.

[ottery st mary]

Why are the football authorities AND everyone else picking on pooooooor ole little Pompey....We all know why.

 

Any sympathy out there...Thought not...

 

They deserve everything they get from now on..

 

Come on you SUPER Saints.

[hutch]

They don't seem to be able to grasp the point that the embargo is there to prevent them from signing up or re-signing players they either can't afford to pay, or can afford to pay but only if they don't pay their taxes and everybody else they owe money to. But then it was always thus down that way. I almost agreed with the post that Ginge quoted earlier, until I got to the last paragraph:

 

 

betalucky User is offline

The first team squad on the OS shows us with 19 senior players, one of whom is long-term injured, and at least two of whom we cannot re-sign even if the players choose to do so, so that leaves 16 and no goalkeepers. Add Nugent makes 17.

In order to fund the CVA, we are told we need to raise £15 Million in transfer fees. I don't believe we can do it, but the closest we can get would require selling at least Nugent, Boateng, Belhadj, Utaka, Mokoena, Mullins and Diop. So that leaves 11. Plus we desperately want ben Haim of our books, that would be 10.

We cannot sign anyone, we are told, until at least July 15. But the FL will need some proof of funding and presumably some kind of meeting after that date, so let's be optimistic and say we might achieve it in a week. So let's say Friday July 23.

We are touring America from July 12 to 24, OK let's say we can play those games with unregistered players from the academy, but that means Cotterill getting back on Sunday 25 with two weeks to the opening League game.

So we are looking pretty screwed just from that, but if there is any other delay, such as an HMRC appeal or the FL saying that we need to have some certainty of our ownership, then we will quite clearly be unable to complete our first fixtures which begin on August 7.

I am not talking about us fielding a weak team, that seems inevitable in the early games like last season. I am talking about us not even being able to put out a bare XI, let alone any subs.

The whole transfer embargo thing is bloody ridiculous. We have a tiny squad anyway. We should at least be allowed to sign players who are already with the Club, and also to bring in new players on the basis of one out, one in

Of course I can well understand why the FL don't want to do that, but if they stick to their guns until the bitter end and then something goes wrong, the consequences would not bear thinking about.

In principle we can still play even while we are still in administration. But not without a squad we can't.

The consequences would not bear thinking about? I for one (as they seem to like to say down there for some reason) get quite a lot of pleasure from thinking about the consequences.

[Jimmy_D]

The football administrator is cheating. A cheat is running the football club!

 

http://www.portsmouth.co.uk/sport/Pompey-face-keeper-crisis.6383994.jp?CommentPage=1&CommentPageLength=10#comments

 

AA wants dispensation to sign James (he can't sign a deal under the embargo) and neither could Ashdown (who was released).

 

However... academy keeper Tommy Smith was released. Smith is under 24 and so would have been able to sign a contract. Yet they choose to release Smith.

 

AA doesn't have a leg to stand on.

 

Ah if only football manager had a receptionist voiceover like Theme Hospital does...

 

Here we have yet another example of the administrator acting like a manager...

 

It's happened so many times now no-one even bats an eyelid any more.

 

I can't remember our administrator being the slightest bit interested in the football side of things, besides trying to get some money from the sale of players to keep the club going.

[Matthew Le God]

Ah if only football manager had a receptionist voiceover like Theme Hospital does...

 

I was hoping someone would get the Theme Hospital reference...

[dronskisaint]

They don't seem to be able to grasp the point that the embargo is there to prevent them from signing up or re-signing players they either can't afford to pay, or can afford to pay but only if they don't pay their taxes and everybody else they owe money to. But then it was always thus down that way. I almost agreed with the post that Ginge quoted earlier, until I got to the last paragraph:

 

 

The consequences would not bear thinking about? I for one (as they seem to like to say down there for some reason) get quite a lot of pleasure from thinking about the consequences.

 

+1 - All this bearing to think about it has made me very cheerful!

[sidthesquid]

The football administrator is cheating. A cheat is running the football club!

 

http://www.portsmouth.co.uk/sport/Pompey-face-keeper-crisis.6383994.jp?CommentPage=1&CommentPageLength=10#comments

 

AA wants dispensation to sign James (he can't sign a deal under the embargo) and neither could Ashdown (who was released).

 

However... academy keeper Tommy Smith was released. Smith is under 24 and so would have been able to sign a contract. Yet they choose to release Smith.

AA doesn't have a leg to stand on.

 

Note, AA is not saying - could we sign an emergency loan from league two as cover. Rather it's - we expect to be given special dispensation to sign England's world cup keeper on the biggest salary in the championship. The man's an Rse.

[OldNick]

you know Pompey will get permission, AA knows he will it is only us who think the FL will have the balls to say no. The Kanu thing yesterday, now 'we have no keepers' today, next week it will be that Requilme signed a deal before the end of last season and the league must have missed his registration. Pompey had proof as Corp Ho was on here and told us it was happening, and so they wil send copies of his posts and that will be signed off as well.

[farawaysaint]

Right, I don't think anyone will give me rubbish for not reading 569 pages but I don't live in England so I don't get any Pompey news. Are they still screwed or is the CVA saving them? Summary please?

[NickG]

they are hanging on at mo

[JackFrost]

Right, I don't think anyone will give me rubbish for not reading 569 pages but I don't live in England so I don't get any Pompey news. Are they still screwed or is the CVA saving them? Summary please?

 

CVA has been agreed, but HMRC are expected to appeal and drag them back to court within 28 days (by mid July time)

 

There we all hope is when the CVA will be unravelled

[Faz]

Right, I don't think anyone will give me rubbish for not reading 569 pages but I don't live in England so I don't get any Pompey news. Are they still screwed or is the CVA saving them? Summary please?

 

* They spent money they didn't have.

* They went into Administration, the Administrator being appointed and funded by Chinnery, who has a vested interest

* The Administrator found hitherto undisclosed debts of £68m on top of the £70m declared by Vantis in the SoA - easily missed

* HMRC have enough voting rights to screw the CVA but AA reduces the HMRC element without explanation

* HMRC have until 15th July to go to court and contest the CVA

* Despite all the question marks, AA appoints a CEO and new manager, and believes they should be allowed to re-sign to current England goallie (presumably he'll be happy to accept a £40k pw drop in wages)

* The FL are starting to flex their muscles - transfer embargo etc etc.

* The fun is only just begining

* The deluded Few believe they've done nothing wrong - it's all very unfair.

[Wes Tender]

* They spent money they didn't have.

* They went into Administration, the Administrator being appointed and funded by Chinnery, who has a vested interest

* The Administrator found hitherto undisclosed debts of £68m on top of the £70m declared by Vantis in the SoA - easily missed

* HMRC have enough voting rights to screw the CVA but AA reduces the HMRC element without explanation

* HMRC have until 15th July to go to court and contest the CVA

* Despite all the question marks, AA appoints a CEO and new manager, and believes they should be allowed to re-sign to current England goallie (presumably he'll be happy to accept a £40k pw drop in wages)

* The FL are starting to flex their muscles - transfer embargo etc etc.

* The fun is only just begining

* The deluded Few believe they've done nothing wrong - it's all very unfair.

 

A brilliant precis.

[JackFrost]

I must have missed this about the transfer embargo, they had it lifted earlier this year, has the FL imposed another embargo on them now?

[Wes Tender]

I must have missed this about the transfer embargo, they had it lifted earlier this year, has the FL imposed another embargo on them now?

 

Yes. It is because they are in administration, but although the CVA has been accepted, the FL has had the presence of mind thankfully to continue the embargo until the 28 days margin for appeal has passed. If as expected HMRC challenge it and it goes to the Courts, then the embargo will probably remain in place until the court decision has been reached. It seems likely that under those circumstances, the Skates might have to play their reserves and youth players and some of their fans are incensed at the prospect, having gotten used to watching most of their team being good enough to feature in the World Cup

[Wes Tender]

Seems that the Skates issue over permission from the FL for them to sign James as emergency goalkeeper during the transfer embargo isn't going to happen anyway. Fulham are rumoured to be signing him on a free and he has been quoted as saying that he wants to play in the Premiership. With luck, they'll have to rely on their youth goallie.