Pompey Takeover Saga

[OldNick]

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.

Are you saying that Buffon is going to tun them down as well?

[Saint 76er]

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.

 

 

Happily, we are at last in a position to assist our near neighbours and dig them out of their self inflicted hole.

 

All we have to do is to cancel Forecast's contract and then graciously offer him to the skates as an out of contract signing (on the obligatory five year contract obviously) and et voila the problem is solved.

 

For us, of course, not them...

[EastleighSoulBoy]

Happily, we are at last in a position to assist our near neighbours and dig them out of their self inflicted hole.

 

All we have to do is to cancel Forecast's contract and then graciously offer him to the skates as an out of contract signing (on the obligatory five year contract obviously) and et voila the problem is solved.

 

For us, of course, not them...

 

Would you really be so unkind to Forcast? Imagine the crowd as his name is called out over the tannoy

 

"Faaaaaaaaaaaaaaaakin' Skammmmahh!

[St Chalet]

Good to see Boateng's value go up a bit, should improve the creditors mediocre chances of ever seeing a penny.

[skintsaint]

not now he's done his hammy...

[bridge too far]

 

Apparently some Americans have flown over to have a look

[Amesbury Saint]

 

Apparently some Americans have flown over to have a look

 

at Pompey, the Victory or the Gosport ferry?

[rallyboy]

the biggest fear from AA was that an interested party would actually 'have a look' - they'll never be seen again.

 

Far easier to sell the club on the glossy brochure than the reality, especially when big progress is judged by 'getting an email' or 'thinking about setting up a meeting'.

[rpb]

 

Apparently some Americans have flown over to have a look

 

Well this was on Fratton Faithful...

 

Apparently a millionaire with connections to a business in Portsmouth is interested in taking the club over if the CVA goes through (meaning that any appeal goes our way). Mike oxbig said 'we will see what happens in my talks with Andrew in the next 48 hours, hopefully there can be a positive outcome for both sides' after he flew to London to meet the Portsmouth administrator. his business partner, hugh jass, went on to say 'the club has massive potential and is confident a deal could be sealed' as well as 'the club must be stabilized for 1 or 2 seasons and then we can progress with the fans from there'

 

Interesting names...

[Danish Saint]

Well this was on Fratton Faithful...

 

Apparently a millionaire with connections to a business in Portsmouth is interested in taking the club over if the CVA goes through (meaning that any appeal goes our way). Mike oxbig said 'we will see what happens in my talks with Andrew in the next 48 hours, hopefully there can be a positive outcome for both sides' after he flew to London to meet the Portsmouth administrator. his business partner, hugh jass, went on to say 'the club has massive potential and is confident a deal could be sealed' as well as 'the club must be stabilized for 1 or 2 seasons and then we can progress with the fans from there'

 

Interesting names...

 

So Mike Oxbig and Hugh Jass.....LOL......sounds like just the right people for Pompey

[Eastcowzer]

Those names !. Are they for real, or are they movie producers of the risque type

[dubai_phil]

Dear Corpy

 

Once upon a time Poorsmuff had a very good Poly which then became a Uni. It has a very good Business Studies Department.

 

I suggest you take the chance (now you're free socially every couple of weeks) to sign up for a course to explain Corporate Compliance and Corporate Funding so that you can understand the difference between a Director taking out a secured bank loan on the assets of a business (Gaydamark) and Conversion of personal wealth into Equity (Abramovich), and (by NC's own words) Grant Finance from a Director.

 

Maybe then you'll stop trying to defend the insane position your rent-an-owner clowns have put your club into.

 

Grievance counselling teaches that the first true step to recovery is to understand where you actually are rather than the anger, and denial phases. Once you do that you'll be able (along with the rest of the many dozy News posters) to start planning and rebuilding some form of a club for the next ten years instead of the next 10 days or so.

 

You've been buttfooked without any KY and you found out it hurts, take two panadol and move on and wait for the revenge when Storrieteller drops the soap in Ford Open Prison

[Draino76]

Mike Oxbig tends to work well with Hugh Jass in previous encounters are anything to go by, so this could well be what they are looking for to turn things around.

[EastleighSoulBoy]

Mike Oxbig tends to work well with Hugh Jass in previous encounters are anything to go by, so this could well be what they are looking for to turn things around.

 

The actress, Samantha Janus' brother Hugh is also interested in Ploppy.

[PaulSaint]

The actress, Samantha Janus' brother Hugh is also interested in Ploppy.

 

His mates Phil Mykok and Betty Swallocks are throwing in their hats too.

[alehouseboys]

You all mock but there's serious talk of some Irish race horse owner getting involved now, Jack O'Nory.

 

You heard it here first...even before Corpy...

[suewhistle]

Us mock? Perish the thought.

 

 

The rumour I've heard is that it's an Italian consortium...

 

 

 

the Camorra, the 'ndraghetta and the Mafia; they're looking at an easy way to launder money, or maybe they want to go straight and this is the easiest way for them to lose their ill-gotten gains. It's difficult to tell as, as anyone who speaks Italian will tell you, their dialects are really something else!

[ottery st mary]

Did someone already mention the family originally from Portsmouth now living in Wandsworth.

 

Mike Hunt, Ivor Hunt, etc etc...You know the rest of the family.

 

Gold Bars are us...Just be patient you Pompey girlzzz......The boyzz get out in 20 years..

 

This may well be the best hope they have.....

 

Just need to get the gold bars out of those cement pillars holding up the flyover at Paddington.

 

COYRs...AND Whites with the luvvverly red sash..

[mcjwills]

His mates Phil Mykok and Betty Swallocks are throwing in their hats too.

heard a rumour that their new accountants were going to be Ronald Ripoff & Andy Leggit

[NickG]

been distracted by world cup - what is the latest comedy value from down the road?

[Weston Super Saint]

been distracted by world cup - what is the latest comedy value from down the road?

 

They're still fukked.

[sidthesquid]

Right, in light of the above statement, this purile, immature "Cheats" thing when referring to us is laughable, because you are no different to us. ......

 

Oh, but we are, my fishy one.

Imagine we are two families. Family A lives reasonably modestly but successfully and decides to move into a bigger house. The finances are stretched but manageable until a financial crisis occurs and forty percent of their income is wiped away at a stroke. They struggle to adjust, maybe make a slightly rash investment to try to regain their lost income. They struggle on, cutting costs but paying their taxes and other debts, until the bank calls in the overdraft and the mortgage holder repossesses the home .

Compare this with family B. They are serial bad payers with a history of financial recklessness. Rather than invest in a new home they carry on in their old caravan, living the high-life, maxing out on every credit card they can get, running up debt and not paying their taxes, claiming to be solvent to get more credit until, it goes t1ts-up. They sell the Mercedes but still expect to replace it with a BMW. They don't see why they can't still have three holidays a year and they claim they are being persecuted and it's not their fault. They go to court, they say we're skint and there is nothing you can do about it, then laugh all their way back to the caravan park having had all their debts wiped off ready to start all over again.

Not exactly the same in my book.

[trousers]

Oh, but we are, my fishy one.

Imagine we are two families. Family A lives reasonably modestly but successfully and decides to move into a bigger house. The finances are stretched but manageable until a financial crisis occurs and forty percent of their income is wiped away at a stroke. They struggle to adjust, maybe make a slightly rash investment to try to regain their lost income. They struggle on, cutting costs but paying their taxes and other debts, until the bank calls in the overdraft and the mortgage holder repossesses the home .

Compare this with family B. They are serial bad payers with a history of financial recklessness. Rather than invest in a new home they carry on in their old caravan, living the high-life, maxing out on every credit card they can get, running up debt and not paying their taxes, claiming to be solvent to get more credit until, it goes t1ts-up. They sell the Mercedes but still expect to replace it with a BMW. They don't see why they can't still have three holidays a year and they claim they are being persecuted and it's not their fault. They go to court, they say we're skint and there is nothing you can do about it, then laugh all their way back to the caravan park having had all their debts wiped off ready to start all over again.

Not exactly the same in my book.

 

[saint1977]

Brilliant post and so, so accurate with it. Skates forget that Venables was there before Mandaric and Gaydamak started (allegedly) messing about with IR/HMCE/HMRC. We had one or two bad eggs - Askham and Wiseman - who did the club immense damage that NC and ML are helping us recover from and Wiseman ran into problems at the FA but I don't recall them actually (allegedly) cheating the public revenue in the way that Pompey have over the years. Lowe wasn't my favourite Chairman but you have to say that there wasn't a mountain of unpaid tax when we toppled into adminstration (although the barsteward could have put us in weeks before he did) or any at all if memory serves me correctly. We took our medicine for Wilde's and Crouch's gamble and Lowe's mismanagement on a fraction of the skates debts.

[Sevvy]

Its gone really quiet at the moment, is this the lull before the storm...

[rallyboy]

all football decisions are on hold while Maradona is still involved in the world cup, and they won't be able to complete signings until the Spanish and Brazilian players are free to talk.

 

It may seem like nothing is happening but more money pours out of the club everyday - astronomical wages, crippling interest - it's all gathering pace behind the scenes.

 

With the use of a calculator and an anorak I would estimate they've run up £100 more of overheads debt in the time it took you to read this post.

 

 

And another £100 while you're thinking about it.

[Gemmel]

Its gone really quiet at the moment, is this the lull before the storm...

 

It was always going to be quiet after the CVA was agreed. The storm will obviously come, if HMRC decide to appeal. Given that andriod, let slip he was meeting with them this week, I think it is safe to assume, HMRC aren't taking this lying down.

Depending on how nasty they want to be they could leave it to the very last day (15th July I think), but apart from chanarai, is anybody serioulsy going to buy them until the know one way or the other?

 

I'm afraid the only enetertainment on this thread before the 15th will be the odd tit bit that aa throws us as he looks to resign the national goalkeeper and build a title challenging squad in the middle of a transfer embargo....... oh how I miss Storries little press releases.

[mack rill]

Oh, but we are, my fishy one.

Imagine we are two families. Family A lives reasonably modestly but successfully and decides to move into a bigger house. The finances are stretched but manageable until a financial crisis occurs and forty percent of their income is wiped away at a stroke. They struggle to adjust, maybe make a slightly rash investment to try to regain their lost income. They struggle on, cutting costs but paying their taxes and other debts, until the bank calls in the overdraft and the mortgage holder repossesses the home .

Compare this with family B. They are serial bad payers with a history of financial recklessness. Rather than invest in a new home they carry on in their old caravan, living the high-life, maxing out on every credit card they can get, running up debt and not paying their taxes, claiming to be solvent to get more credit until, it goes t1ts-up. They sell the Mercedes but still expect to replace it with a BMW. They don't see why they can't still have three holidays a year and they claim they are being persecuted and it's not their fault. They go to court, they say we're skint and there is nothing you can do about it, then laugh all their way back to the caravan park having had all their debts wiped off ready to start all over again.

Not exactly the same in my book.

Nar! not avinit, Its the same both Families A n B ended up in the shyt owing some knut moneys:rolleyes:

[miserableoldgit]

Nar! not avinit, Its the same both Families A n B ended up in the shyt owing some knut moneys:rolleyes:

 

Well, if you can`t see the difference, it probably explains the mess that you`re in.

[rallyboy]

the two hypothetical families may be in the same mess but the difference is that the authorities will come down heavily on the ones that continually flick two of their eleven fingers at creditors.

 

And the fact that one family has a wife and a sister who only requires one bus ticket.

[Dark Munster]

Its gone really quiet at the moment, is this the lull before the storm...

Yes indeed, forecasters are predicting that a huge storm will hit the P********* area on July 15th.

[Dark Munster]

Brilliant post and so, so accurate with it. Skates forget that Venables was there before Mandaric and Gaydamak started (allegedly) messing about with IR/HMCE/HMRC. We had one or two bad eggs - Askham and Wiseman - who did the club immense damage that NC and ML are helping us recover from and Wiseman ran into problems at the FA but I don't recall them actually (allegedly) cheating the public revenue in the way that Pompey have over the years. Lowe wasn't my favourite Chairman but you have to say that there wasn't a mountain of unpaid tax when we toppled into adminstration (although the barsteward could have put us in weeks before he did) or any at all if memory serves me correctly. We took our medicine for Wilde's and Crouch's gamble and Lowe's mismanagement on a fraction of the skates debts.

Just a few days would have sufficed.

[Gingeletiss]

Interesting little site

 

http://www.oi-fa.com/index.aspx

 

Puts average gate information into perspective, we had a higher gate than Poopey...FACT!.

[redkeith]

On the News site, AA, the new CEO abd Storrie are ALL flying to Rome to try to sort out the Beladj and Boateng transfer. Nice bit of cost control there .

 

Perhaps Rooney could be coming the other way, to get over his World Cup horror show. Maybe that's why he is living in a caravan in the Nike advert ?

[hutch]

In order to lighten up the atmosphere a bit after England's dismal performance in SA, I've complied some quotes from our favourite sitcom, "Andy in the News". These are all (selective) direct quotes from Pompey's favourite online newspaper.

 

‘We've been at the club a week and we've covered a lot of ground, it's about time we announced what is going to happen.’ It is thought Mr Andronikou, who is an experienced handler of football club takeovers, may no longer need Mr Storrie's expertise now there are a reported 12 interested parties looking to buy Pompey.

8 March 2010

 

‘Mr Chainrai categorically denies that he's interested in buying the club back.’

25 March 2010

 

The club's administrator Andrew Andronikou has told The News he is confident Pompey will be battling it out in the Europa League next season … Andronikou said: 'Hopefully they will back us. It is a difficult position but I am confident, if I wasn't confident we wouldn't be applying for it’

15 April 2010

 

Andronikou has told The News he confident of having a CVA in place and coming out of administration by the end of May or first week in June.

20 April 2010

 

Pompey fans have reacted with anger and confusion after the scale of the club's debts was revealed to be £119m. The club's administrator Andrew Andronikou arrived at the figure while drawing up Pompey's accounts ahead of an important meeting with creditors, set for May 6. Previously, Mr Andronikou said the club's debts were much lower – around £70m

21 April 2010

 

Suggestions have been made that Andronikou may have exaggerated the scale of the club's debts to make it easier to get creditors to quickly agree to accepting a deal for a lot less cash than they are owed. But the administrator has denied these claims. He said: 'Not at all’

22 April 2010

 

Two months ago, Pompey's debts were pitched to be around £80m by accounting firm Vantis when it provided the High Court with a statement of affairs … And the fact it has now rocketed to £119m has left the administrator facing allegations he has exaggerated the scale of the club's debts … the club owes 26 players £1.86m in unpaid bonuses and appearance fees written in to their contracts.

 

'The only greyness is what your florist or baker is owed, which is pretty immaterial in the grand scheme of things… there's a point at which you say "it owes all this money, does it really matter whether it owes, £60m, £70m or £80m?"

23 April 2010

 

Reports suggest the administrators will offer unsecured creditors 23p back for every pound owed. But Mr Andronikou refused to confirm those reports. 'That's for me and the other administrators to know,' he said. 'We want to get back the most money for all creditors’

23 April 2010

 

'Players' liabilities go up and up,' he said. 'When we win the FA Cup they will go up and up again and when we get in to Europe, despite what people are saying, they will go up again’

23 April 2010

 

'We have got a right to play in Europe, we have earnt the right, so we will make an application next week as planned’

23 April 2010

 

'We are in the business of playing football and need a playing squad’

28 April 2010

 

'Despite recent press reports, the club has not been rejected from entry into next season's UEFA Europa League … an application has not yet been submitted and has not therefore been considered or rejected’

29 April 2010

 

'We've had it confirmed today by Lucius Peart, the head of operations at Pompey, that the season ticket money will be ring-fenced so cannot be touched.’ One fan said at the meeting: 'Pompey are a bunch of fraudsters and thieves. They're not going to get my money.’

30 April 2010

 

Mr Andronikou said: 'The group has been around for nearly as long as I have. I suppose just apply common sense. If nothing tangible has happened in two months, you start to have doubts about whether the offer is real or they have the ability to take it forward.’ But he added he had the power to refuse an offer if it was not in the interests of the club or creditors

3 May 2010

 

Mr Andronikou confirmed that he still sees Mr Chainrai as his 'Plan B' option should a buyer for the club not be found.

7 May 2010

 

'There are 11 players out of contract at the end of the season. A Championship team's budget for players should be between £8-10m and that translates to a mixture of earners between £5-10,000. In the Championship that should be enough – the players can take it or leave it.’

7 May 2010

 

Her Majesty's Revenue and Customs hit Pompey with a last-minute debt claim for an additional £18m, increasing the club's debts to a whopping £138.6m. Administrator Andrew Andronikou said HMRC submitted the claim on Wednesday morning. He said he would be investigating whether HMRC was really owed the extra cash.

 

Carl Faulds … alleged 'double counting' had taken place over former owner Sacha Gaydamak's debt and that he isn't owed £30m. In response, Mr Andronikou said: 'All the claims will be reviewed. 'We are professionals and we'll be asking the same questions.'

 

Then, addressing Mr Faulds, Mr Andronikou said: 'I do hope you are not questioning the integrity of this process.

7 May 2010

 

'There are lots of outside parties consistently trying to bring down the club, I am sorry to say. I wish these people would leave the club alone. We are currently involved in negotiations with players out of contract and those who are still under contract.’

17 May 2010

 

‘David James is definitely one we want to keep. I want him to stay at this club, 100 per cent … Two weeks ago we met with his agent, Colin Gordon, and said we wanted David to stay … The player himself was interested … He has been offered a contract informally and we are looking to move it on in the next few days.’

17 May 2010

 

Mr Andronikou said: 'We are hoping to finalise the CVA as early as Friday - if not, Monday. Mr Andronikou's optimism came as he yesterday submitted an application for Pompey to play in the Europa League.

19 May 2010

 

'We have got to accept that players will be going, revenue needs to be raised to continue taking us forward. We are looking to make £15m from selling four to six players. That is our aim.’

20 May 2010

 

On Avram Grant … 'If there was no interest in him he would stay, I know that 100 per cent. It would not be a problem. But he is in demand and you have got to be realistic. His stock value is very high and understandably so. You could not ask him to do any more for this club than he has done. Those clubs talked about were bound to interest him. Even so, I was talking to him on a day-by-day basis and he was still making up his mind. It was a huge decision for him and in the end he went back to Israel to think about it. Over there he probably reflected on life and thought about whether he feels he could stay on and take the club back up

21 May 2010

 

'The coaching staff have had full autonomy and made the decisions over who they would like to keep at this club.’

24 May 2010

 

THE FA have insisted they will not overturn their decision to refuse Pompey admittance into Europe. An FA spokesman said: 'Portsmouth did not meet the strict March 1 deadline.’

27 May 2010

 

He said: 'Our coaches are going nowhere. Then again, that may be famous last words. I suppose making sure nobody takes them away from us is probably my next problem. I have not heard they are thinking of moving’

28 May 2010

 

And Andronikou has promised there will be no cut-price bargains. He said: 'We are not selling hundreds of players, maybe three, four or five. But we do not have to sell anyone on the cheap and there will be no stupid offers accepted.’ He added: 'All our players have attracted considerable interest in one form or another. If we can get four players out and make £20m-plus that would be ideal.’

28 May 2010

 

Andrew Andronikou is desperate to raise £15m through player sales this summer. Andrnikou believes, selling off Boateng, Belhadj, Utaka and Nugent during the next fortnight could effectively ensure ex-trainee Wilson remains at Fratton Park.

31 May 2010

[hutch]

And so far this month:

 

'If clubs think that because Portsmouth are in administration we will accept any old offer, then they are mistaken. There will be no fire sale here and players will only be sold if we receive offers that meet our valuation.’

3 June 2010

 

Pompey are set to cash in on John Utaka to kick-start their summer fundraising. Pompey paid a whopping £7m to Rennes for his services in 2007 but he has failed to live up to that price tag, scoring seven times in 65 appearances. ‘John is a talented striker and, on his day, he is a class act.’

5 June 2010

 

HMRC said it will turn down the offer by Pompey administrators of 20p for every pound owed. Speaking before the HMRC's announcement, Andronikou said he was hoping to meet the taxman over the next few days in a bid to get them to agree to the CVA. 'Irrespective, we have had a phenomenal dialogue with them.’

7 June 2010

 

'The two main ones we are looking to sell are Belhadj and Boateng … We are still waiting for someone to come up with a decent offer and it's about trying to get to them to that level.’

9 June 2010

 

No manager, no owner, no CVA, no money - but for Pompey, the recruitment drive for players continues unhindered. A registration embargo is also still in place and will remain so until the CVA is granted at the very least. Andronikou said: 'The show must go on next season and we have got to bring in new players … 'In fact, not having a manager so far has not really impeded us at all. Peter Storrie is also helping us with his list of contacts’ … 'Of course, we are not looking to pay for players.’

9 June 2010

 

'Our embargo target is July 1, subject to the Football League's approval, of course. The Football League have told us to get the CVA and then we will talk about getting it removed. In the meantime, those players out of contract are effectively free agents.’

10 June 2010

 

Just 15 players are presently contracted to the Blues for life in the Championship next term. Of that total of 15, four are up for sale, with both Pompey and the players desperate for a parting of the ways. In addition, another five have been attracting interest from other clubs across the globe. Andrew Andronikou believes it won't be until July 1 before the transfer ban is removed by the Football League.

10 June 2010

 

The administrator met with HMRC, which has put in a £35m claim, on Tuesday to persuade them to vote in favour. He said: 'They're sitting on the fence. They said they will let me know their position on Monday.’

10 June 2010

 

'I've been on the phone to these people late into the night and at weekends for six weeks. I'm very angry that they have been so alarmed as to pull out on the back of this spurious proposal by Griffins.' Mr Andronikou would not name the potential buyers.

10 June 2010

 

Mr Andronikou said: 'My focus now is to find the club a buyer. Next week I will be talking to the Ukrainians and updating them on the situation. I'm focusing on three people at the moment and I'll be talking with them.’

18 June 2010

 

‘I feel we have been fair. It's their decision to take, but in the intervening period we will continue our dialogue with HMRC and try to steer them away from making such an appeal.’

18 June 2010

 

'Steve is very much the manager we wanted and we are delighted to have got him. We have given him a three-year contract simply because we need to bring some stability to the place. 'Now the players know who their manager will be and we can continue moving forwards. The presence of Steve will also allow us to bring in loans. Now other clubs know who will be working with their players.’

21 June 2010

 

Nigeria's early elimination has boosted Pompey's chances of cashing in on John Utaka. Andronikou now has the opportunity to push the wantaway former Rennes man through the Fratton Park exit … 'I am sure the manager would want him to stay here but we have got to be realistic.’

24 June 2010

 

Pompey's registration embargo will remain until at least July 15. Andronikou, right, said: 'We had a meeting with the Football League on Tuesday where they reiterated their position. Basically, the embargo will remain in place until clarification.’ At present, Andrew Andronikou claims he is talking to three interested parties, with Balram Chainrai's Portpin in the background.

24 June 2010

[Sevvy]

Its surprising how much cr4p AA comes out with, i am surprised also that the fraud squad havnt been around with all these different figures of debt etc.

[angelman]

Nigeria's early elimination has boosted Pompey's chances of cashing in on John Utaka. Andronikou now has the opportunity to push the wantaway former Rennes man through the Fratton Park exit … 'I am sure the manager would want him to stay here but we have got to be realistic.’

24 June 2010

 

Would that be because no one else out there can see how cr*p he really is? Most people like to see their assets in the shop window for as long as possible, where they can show off their talents!

[rallyboy]

it's amazing how much interest he's generated in such a dire squad.

They were proven to be the worst team over 38 games yet in a football recession when wages are key, AA has dozens of clubs locked in bidding wars over his star players - he should be able to name his price!

 

Or looking at Hutch's research (far too much spare time!) maybe fibs spill out of AA's gob every time he opens it.

[Frank's cousin]

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.

 

Er NO. you miss the point - I am not saying its right that clubs are run on credit - but that there is a big difference between sustainabilty of servicing those borrowings and borrowing way more than the owners are prepared to put in and not being able to service that debt.... surely you can see the difference? There WERE questionmarks about Gaydamark when he arrived...

 

 

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

 

Er NO again - you miss the point - we did not BORROW money - we spent cash we had in the bank following player sales - our push for promotion was NOT funded by borowings or debt. My point was I would have rather seen the club consolidate and save for a rainiy day which it did not do because we were run by folk who were more interested in gettingfan approval or were fans, than by serious football business professionals - can you not see the difference? You are right fans in uproar about financila managemnet at teh club may do little to help, but many did point teh situation out to you and your fans, but no one listened - and if you imissed the strength of the debate on here when many of us were questioning the wisdom of the clubs spending at that time, you missed some qaulioty entertainment - that debate dominated tehse boards for over 12 months

 

 

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?

 

The smaller the actual debt, the less chance of a CVA... AA has some questions to answer - I have not laughed at PFC, I cant laugh at something taht is sad for fans, and shameful for football - If Liebherr wanted to sell, of course i would want rules in place, but its also about integrity - I do believe that Liebherr has some and is professional in his business, so he would ensure everything is clear and above board - BUT its NOT about how much money they can gift a club but teh way in which they run it and its always a risk - But I was not having a go at your fans for not doing something to change it - that as you pointed out is impossible and not your fault, but I was criticising your fans for NOT QUESTIONNING the wisdom of it, when lapping up bought success - and whenether anyone else pointed it out that you might be living on borrowed time (as well as money) - it was dissmissed as envy....

 

 

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

 

Thats where we will disagree because there were many on here discuusing the problems associated with your debt - I discussed it myself with a fan of yours 5 months before the cup final win - when the club was already 30 mil in debt - he was concerned but there seem to be few with that voice of reason... he knew because these things were reported in teh papers at teh time and he chose to read all the club related articles not just teh positive ones..

 

 

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.

 

You cant ahve it both ways - either the debts are £138 mil and the HMRC are owed less than 25% so you get you CVA, or its around 60-80 mil or so and HMRC are owed more than 25% and no CVA - this is what is wrong here - independent forensic accounting should be put in place FIRST to get to the bottom of this before CVA/admin exit happens or the club is liquidated, because the rules need to be applied and if further transgressions are uncovered then the club should be penalised as other clubs have been... but this does not appear to be the case...

 

 

 

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

 

What you need to appreciate is this. Liebherr is on record as saying that teh club needs to be sulf sufficient in terms of revenue being strong enough to cover all operating costs and contractual obligations - this means that if he sold tomorrow we would NOT be running at a Loss - Chelseas would and so would most of the prem clubs if tehir owners stopped pumping in cash - we are NOT doing that according to what he has said - BUT he also said he would be prepared to invest in playesr at the appropriate level if required - BUT the club MUST be able to support and afford the wages and costs assocuiated with that purchase - and there IS a difference there because Liebherr will not fund a player if the clubs revenue cannot sustain the contractual obligations that come with him.... this may be a subtle point but its an important one... and one that I believe Cortese lives by and why all purchase come with caveats and high levels of pressure on the manager - because I am sure we are running at a zero opperating profit.

 

Comments above - yes there IS a sense of extreme schardenfreude shown by many - as yor fans dished out during our own mess, but the fact remaisn looking over your fan forums and message boards, that there is still one hell of a lot of pompey fans that lack the knowledge, self awareness to rationalise this... they still see teh club as an innocent victim and refuse to acknowledge that if you buy players with money you dont have to gain an advantage and then not pay it back it TAINTS any success that came with it.

[hutch]

 

Or looking at Hutch's research (far too much spare time!) maybe fibs spill out of AA's gob every time he opens it.

Therapeutic distraction

[suewhistle]

Therapeutic distraction

 

..and may I say much appreciated by the lazier ones amongst us, now that schools hols (at least here) are here.

[dubai_phil]

Oh what a shame looks like AA isn't looking very hard for people interested in buying South Coast Football Clubs

 

http://www.goal.com/en-gb/news/3268/league-one/2010/06/29/2000997/russian-multi-millionaire-duo-aim-to-buy-afc-bournemouth-and

[angelman]

Well to be honest £6.5m for the club, which does have potential to expand as does the town, or £65m plus for a dump with no squad and not much prospect for expansion seems a no brainer. Poopey is toxic and no one is going to buy it without stiffing Chainrai. Will Chainrai accept taking a hit?

[OldNick]

Oh what a shame looks like AA isn't looking very hard for people interested in buying South Coast Football Clubs

 

http://www.goal.com/en-gb/news/3268/league-one/2010/06/29/2000997/russian-multi-millionaire-duo-aim-to-buy-afc-bournemouth-and

 

Hey Phil your message box is full. Remember the conversation, dont forget I have a sly contact

[rallyboy]

if anyone's organising a hit it's likely to be the arms dealer, and I don't mean a sugary pop ballad from the Simon Cowell stable.

 

Shouldn't be too long before someone discovers that the Russian/Israeli mafia doesn't like the sound of 20p in the pound.

[dubai_phil]

Hey Phil your message box is full. Remember the conversation, dont forget I have a sly contact

 

Oh it's YOU.

 

You're not old stop that nonsense straight away.

 

PM space available and yes I remember

[OldNick]

Oh it's YOU.

 

You're not old stop that nonsense straight away.

 

PM space available and yes I remember

Im not old but oldnick has other meanings Lol

[Micky]

Interesting little site

 

http://www.oi-fa.com/index.aspx

 

Puts average gate information into perspective, we had a higher gate than Poopey...FACT!.

 

Nice site - but there is more than a touch of irony there when you read the main aim of that site - the blue few should be signing up in their droves now.

[NickG]

their new manager of the radio today, identified two free transfers -competing with prem clubs but happy can convince them skates are better club