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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Merovingian

Merovingian

Posted
Posted
But that's not a realistic wage budget. Your turnover will be less than that. Our turnover in the Champ was less than that and we are a much bigger club. Parachute payment are spoken for. You'll be lucky to turn over 9m IMO so good luck with the 13m wage bill.

 

bigger club is measured in terms of winning stuff, you are not the bigger club

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CB Fry

CB Fry

Posted
Posted
bigger club is measured in terms of winning stuff, you are not the bigger club

 

Quite right, and no doubt there will be 50,000 megafans packed into your toilet for the Reading game next week to prove just how gigantic you are.

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Gingeletiss

Gingeletiss

Posted
Posted
bigger club is measured in terms of winning stuff, you are not the bigger club

 

Won't be an argument soon, as you won't be a club, not that you are now! well, not an honest one anyway. As for the argument for now, you are small of stature, small in fanbase, no ground of your own, no training facility, in fact, no anything. Since your arrival 12 years ago (PCFC), you have one the FA cup once, so have we, so how does that make you bigger. Forget what went before that, you lost that when you cheated the first time round, seems that is the only thing you are really good at.

 

Cheats

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Merovingian

Merovingian

Posted
Posted
Won't be an argument soon, as you won't be a club, not that you are now! well, not an honest one anyway. As for the argument for now, you are small of stature, small in fanbase, no ground of your own, no training facility, in fact, no anything. Since your arrival 12 years ago (PCFC), you have one the FA cup once, so have we, so how does that make you bigger. Forget what went before that, you lost that when you cheated the first time round, seems that is the only thing you are really good at.

 

Cheats

 

one thing we do agree on especially after reading this the ******* WAC!!!

 

Balu Chainrai has revealed that he is prepared to invest money in Portsmouth to help the club return to the Premier League.

 

The Hong Kong businessman is expected to buy Pompey back after their High Court victory over Her Majesty's Revenue and Customs this week.

 

He was at Fratton Park when the club went into administration in February and he is the only realistic buyer.

 

Chainrai has now confirmed that he wants to stay involved with the South Coast outfit, and has ambitious plans for the future.

 

"I don't want to sever my ties. Portsmouth has grown on me as well as the people of Portsmouth," he said in the Daily Mirror.

 

Moving forward

"I definitely want to get back to the Premier League - and if I go in it will be with money to invest in the club.

 

"I am not going to stay in the Championship."

 

Chainrai has yet to decide how long he would remain at the Pompey helm but he has no major worries now the club's security has been assured.

 

"The club can move forward - it could be with me for the future or it could just be the short-term.

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PaulSaint

PaulSaint

Posted
Posted
bigger club is measured in terms of winning stuff, you are not the bigger club

 

Do you admit you won in 2008 by a combination of a p1ss easy draw against mostly lower league clubs and by playing players you couldn't afford? Just interested as some posters on here say you are honest with your comments?

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rallyboy

rallyboy

Posted
Posted

the cup win was clearly illegal, as was this years cup run - ask the charities and taxpayers that had to pay for them, with the info that has been released in court and the accounts statements that's beyond debate.

 

Even on a day when we have our annual dodgy start there's always a Coventry to cheer us up - unless Injustice Mann decides later tonight that it was in fact a draw.

No doubt they were brave and unlucky, I do hope Cotterill's as funny as Grant was.

Poor little plucky Pompey, beaten 2-0 by one of their relegation rivals - that's the first six pointer of the season gone awry.

Normal service resumed.

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tedmaul

tedmaul

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Posted

Just back from filming the Coventry v Pompey game for Goals on Sunday. Pompey were dreadful and despite looking good in possession didn't create a noteworthy chance all game. Against a typically disciplined Aidy Boothroyd team. Seems to be a complete lack of spirit and a lot of shrugging shoulders when passes went astray. They will struggle this season.

 

My brief was to focus on Pompey and their fans. And much as it pains me to say, the away support was decent. Not in numbers but a hardcore bunch (TCWTB et al) stayed on for 20 mins after the game until the Cov stewards moved them on. I haven't really seen anything like it before.

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St Chalet

St Chalet

Posted
Posted
Just back from filming the Coventry v Pompey game for Goals on Sunday. Pompey were dreadful and despite looking good in possession didn't create a noteworthy chance all game. Against a typically disciplined Aidy Boothroyd team. Seems to be a complete lack of spirit and a lot of shrugging shoulders when passes went astray. They will struggle this season.

 

My brief was to focus on Pompey and their fans. And much as it pains me to say, the away support was decent. Not in numbers but a hardcore bunch (TCWTB et al) stayed on for 20 mins after the game until the Cov stewards moved them on. I haven't really seen anything like it before.

 

With respect, if I had to return to Pompey I would try and stay in the West Midlands as long as possible too.

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Jimmy Gabriel's Halo

Jimmy Gabriel's Halo

Posted
Posted
one thing we do agree on especially after reading this the ******* WAC!!!

 

Balu Chainrai has revealed that he is prepared to invest money in Portsmouth to help the club return to the Premier League.

 

The Hong Kong businessman is expected to buy Pompey back after their High Court victory over Her Majesty's Revenue and Customs this week.

 

He was at Fratton Park when the club went into administration in February and he is the only realistic buyer.

 

Chainrai has now confirmed that he wants to stay involved with the South Coast outfit, and has ambitious plans for the future.

 

"I don't want to sever my ties. Portsmouth has grown on me as well as the people of Portsmouth," he said in the Daily Mirror.

 

Moving forward

"I definitely want to get back to the Premier League - and if I go in it will be with money to invest in the club.

 

"I am not going to stay in the Championship."

 

Chainrai has yet to decide how long he would remain at the Pompey helm but he has no major worries now the club's security has been assured.

 

"The club can move forward - it could be with me for the future or it could just be the short-term.

 

Come off it mate, you don't really believe this surely. I heard his interview broadcast on Solent this afternoon and it was all ifs, buts and maybes - nothing concrete at all. Chainrai should be a politician the way he avoided answering any of the questions with a positive statement. All he wants is the general direction of out with as much of his money as he can escape with.

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tedmaul

tedmaul

Posted
Posted
don't believe one bit of it and in any case I'd rather us go down fighting without the turd than have him round our club

 

Trouble is, there was a distinct lack of fight or spirit amongst the players. It's an unforgiving league.

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eurosaint

eurosaint

Posted
Posted
one thing we do agree on especially after reading this the ******* WAC!!! Don't understand !

 

Balu Chainrai has revealed that he is prepared to invest money in Portsmouth to help the club return to the Premier League. Like he did to help you stay up ?

 

The Hong Kong businessman is expected to buy Pompey back after their High Court victory over Her Majesty's Revenue and Customs this week. As agreed with Gayadamak ?

 

He was at Fratton Park when the club went into administration in February and he is the only realistic buyer. The queue has disappeared then ?

 

Chainrai has now confirmed that he wants to stay involved with the South Coast outfit, and has ambitious plans for the future. F#ck the money, I'm in it for the glory !

 

"I don't want to sever my ties. Portsmouth has grown on me as well as the people of Portsmouth," he said in the Daily Mirror. I've been lucky, nobody has slashed the tyres on my roller !

 

Moving forward

"I definitely want to get back to the Premier League - and if I go in it will be with money to invest in the club. Just like my mate Al Fahim !

 

"I am not going to stay in the Championship." Bring on League 1 !

 

Chainrai has yet to decide how long he would remain at the Pompey helm but he has no major worries now the club's security has been assured. We've screwed a few local businesses to date, but there are still some suckers out there !!

 

"The club can move forward - it could be with me for the future or it could just be the short-term.

I'm on my bike as soon as I get my dosh out of this sh#tole of a city !!
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Dark Munster

Dark Munster

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Posted
It was Paul Hart.

 

Of course there isn't an exact figure, if promoted creditors receive another 5p/£, so the amount varies depending on if/when promoted, and presumably how long the Prem stay lasts.

 

£16m to £20m, not £16m or £20m. And besides, the length of stay in the PL is irrelevant.

 

Chainrai needs only to guarantee that he will fund the debt payments – which on a 20p in the pound basis equate to between £16m and £20m

 

http://www.guardian.co.uk/football/2010/aug/06/balram-chainrai-portsmouth-nothing-promises

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rallyboy

rallyboy

Posted
Posted

so how much will Chanrai have to throw at it in all?

Let's say £18M for the cva, plus cover a £10M loss this season?

If they go down that leaves him with a League One club with no facilities that owes him the best part of £50M - approx £40M more than it would then be worth.

 

That might be why he's thinking about it....as Peter Jones would say, this isn't a business, there's no way it will make a profit, and that's why I'm out.

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Dark Munster

Dark Munster

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Posted
Have a look at the finances of, say, Shefield United. They maintain a playing budget of around that level, but get average crowds in excess of 20k, and have an infrastructure which is of PL Standard (Ground and Training facilities). And still they have to subsidise wages through player sales. Pompeys playing budget, once again, allows for no investment in the clubitself. Thankfully, they're eating themselves to death. Sticking their own two fingers in the toaster to see if it works.

Sheff. Utd. don't have £48 million of parachute payments. But I do like what you are saying.

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Dark Munster

Dark Munster

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I'm not sure that this is one of the grounds for appeal of a CVA.

 

If that's true, then any dodgy administrator could come up with a "friendly" Tom, Dick and Harry to claim enough of the unsecured debt to win the CVA vote, and always win any appeal. Oh, wait a minute .....

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Dark Munster

Dark Munster

Posted
Posted
But didn't HMRC only go for the 'extra' £13m in retaliation to AA 'inflating' the original debt figure? i.e. The really 'clever' bit was forcing HMRC into raising their claim in the first place, not the fact that HMRC then (inevitably) 'bungled' the detail of their increment.

 

Why didn't the judge subject the amount AA increased the debt by with the same level of forensics that he gave to HMRC's increased amount?

Good question. Did the incompetent HMRC QC even bring this up?

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Dark Munster

Dark Munster

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Posted
No he's not saying that. He's saying it's ok the agree a CVA where some creditors get paid more than others if that revenue stream funding the difference would never be available to the other creditors. It's the same as Wimbledon (even tho we may not want it to be). In this case he's saying that if the CVA weren't agreed Pompey would go insolvent and the Premier League wouldn't pay the parachute payments at all. There is just no scenario where HMRC could benefit from them, so they are not being unfairly prejudiced. He notes that HMRC would probably disagree with a few of the assumptions, but decides that's how he sees it (and he's probably right).

 

It is not "just because they have rules that say so" but rather because the parachute payments are at the discretion of the Premier League.

 

Besides, judges get to make (and ammend) the laws.

Therein lies the rub. How on earth can he conclude that, apart from AA/BC's say so? InJustice Mann could've told AA to go back and work out a better CVA (something closer to the Griffin's).

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trousers

trousers

Posted
Posted
If that's true, then any dodgy administrator could come up with a "friendly" Tom, Dick and Harry to claim enough of the unsecured debt to win the CVA vote, and always win any appeal. Oh, wait a minute .....

 

"it's a funny old game, Saint"

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sidthesquid

sidthesquid

Posted
Posted
Quite. Bristol City have a TOTAL revenue of around £12m PA.

 

That is the bit that p1sses me off. One of the biggest wage bills in the division having slimed out of all their debts. Transfer fees aren't the issue any more in football - it's wages. With £13 mill for wages a half decent manager could comfortably put a promtion team together. Effing CHEATS.

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Faz

Faz

Posted
Posted
That is the bit that p1sses me off. One of the biggest wage bills in the division having slimed out of all their debts. Transfer fees aren't the issue any more in football - it's wages. With £13 mill for wages a half decent manager could comfortably put a promtion team together. Effing CHEATS.

 

The £13m for wages depends on getting £18m in player sales this season. They've raised probably no more than £2.5m so far after expenses, player bonuses, contract buy-outs and agent fees.

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rallyboy

rallyboy

Posted
Posted

building a squad from scratch with a big wagebill would be great, but inheriting a bunch of overpaid losers and trying to offload them to bring in fresh isn't such a great scenario - and we have been there.

I would regard Pardew's best bits of business as

1. Buying Lambert.

2. Offloading Saga.

Pompey now have a whole load of Sagas and Rasiaks on their books, and every week they remain there the wagebill is unsustainable.

 

So AA has set a ridiculous wagecap that insults creditors everywhere - but they don't yet have the freedom to utilise it, nor the funding to honour the court-approved cva.

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saintjay77

saintjay77

Posted
Posted
nothing to do with fans do not know why this argument gets bought up everytime

 

If it's messured on trophy's then hands up and your lot have won more, but continuous years placed higher in the leagues could also be counted, continuous years in the top flight also, total number of fans is difficult to measure but tickets sold for the most recent wembly appearance could also be a measure.

 

3 - 1 saints I make that. ;)

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tommi

tommi

Posted
Posted
so they got away with it?

 

back at the level, with the set up they expected to have years ago.

 

You can try and dress it up however you like, the bottom line is that they have got away with it. (as predicted by a small minority on here and ridiculed by the in house experts..)

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CB Fry

CB Fry

Posted
Posted (edited)
That is the bit that p1sses me off. One of the biggest wage bills in the division having slimed out of all their debts. Transfer fees aren't the issue any more in football - it's wages. With £13 mill for wages a half decent manager could comfortably put a promtion team together. Effing CHEATS.

 

Yes, but they haven't got £13m for wages, have they. With their parachute payments for the first two seasons gone already, they are at the same level as the likes of Bristol City and co - the revenue they can generate from their miniscule gates is all they've got.

Edited by CB Fry
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JackFrost

JackFrost

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Posted
You can try and dress it up however you like, the bottom line is that they have got away with it. (as predicted by a small minority on here and ridiculed by the in house experts..)

 

Yes they have,

 

 

until their current, totally unserviceable outgoings start creating more and more debt.

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dubai_phil

dubai_phil

Posted
Posted
Yes, but they haven't got £13m for wages, have they. With their parachute payments for the first two seasons gone already, they are at the same level as the likes of Bristol City and co - the revenue they can generate from their miniscule gates.

 

The point I made a couple of days back.

 

We averaged 23,000 in 08 at 25 quid a ticket and our total REVENUE was 13million.

 

Nott Arf holds how many at how much a ticket?

 

Do the maths peeps

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hypochondriac

hypochondriac

Posted
Posted
Just back from filming the Coventry v Pompey game for Goals on Sunday. Pompey were dreadful and despite looking good in possession didn't create a noteworthy chance all game. Against a typically disciplined Aidy Boothroyd team. Seems to be a complete lack of spirit and a lot of shrugging shoulders when passes went astray. They will struggle this season.

 

My brief was to focus on Pompey and their fans. And much as it pains me to say, the away support was decent. Not in numbers but a hardcore bunch (TCWTB et al) stayed on for 20 mins after the game until the Cov stewards moved them on. I haven't really seen anything like it before.

 

For me it is just amusing. It's almost like they enjoy being no hopers and getting smashed every week so they can demonstrate how amazing their away support is "against the odds." Will never forget the game last season at SMS where their away support was appalling, totally appalling.

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