Pompey Takeover Saga

[hypochondriac]

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.

 

And they still can't pay transfer fees.

[Trader]

I'm not going to sully my pooter by looking for this but, according to Mr TF, on the Poopey boards they're talking about being taken over by some Americans. The name Kraft has been mooted.

 

IIRC this was a name touted around when we were looking for a buyer?

 

If that's the confectionery manufacturer, if memory serves after the Cadbury takeover they decided to close the Keynsham factory and transfer it to Poland.

 

Such an outcome would suit me fine.

 

Pompey Warszawa FC anyone?

[bridge too far]

If that's the confectionery manufacturer, if memory serves after the Cadbury takeover they decided to close the Keynsham factory and transfer it to Poland.

 

Such an outcome would suit me fine.

 

Pompey Warszawa FC anyone?

 

I don't think it is the same Kraft. I think it's this one:

 

http://en.wikipedia.org/wiki/Robert_Kraft

[pedg]

I'm not going to sully my pooter by looking for this but, according to Mr TF, on the Poopey boards they're talking about being taken over by some Americans. The name Kraft has been mooted.

 

IIRC this was a name touted around when we were looking for a buyer?

 

Obvious case of chinese whispers. Someone obviously misheard someone say "Even an american would be daft for take us over"

[EastleighSoulBoy]

Yes they have,

 

 

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

 

Who, apart from the Chancer, is going to lend them anymore lucre when they come cap in hand?

 

It's easy for us laymen to think that he'd be stupid enough to do it but would he? Or, faced with having to try and reschedule the C.V.A. (not sure if allowable) he might then liquidate?

 

It doesn't all bode well for them despite their outward appearance of 'getting away with it'.

 

40K posts on this thread?

 

Almost definitely!

[The Cat]

Can't find a link for it, but this is in today's Observer:

 

"The property tycoon Rob Lloyd is still working on a bid to buy Portsmouth and will be in London tomorrow to continue negotiations. However AA has told Observer Sport that lloyd's plans to finance the takeover - and beat Hong Kong businessman Balram Chainrai, who is working on a sale-and-purchase buyout - depend on raising future revenues, including a stockmarket flotation of the club.

 

Following Pompey's high court victory on Thursday over HMRC, AA criticised some of the first team squad who he said were "holding the club to ransom" as he attempts to bring the wage bill under control.

 

 

Regarding Lloyd's interest in buying the club for a still unknown purchaser, AA said: "no one can fault Rob Lloyd's efforts. He is still a potential buyer and he's made differing proposals to us, but at the moment they are not really acceptable proposals. Most are based on future revenues - he is interested in a flotation of the club.

 

On the situation with the club's playing staff and wages he said: "The club is effectively being held to ransom by some players. They are behaving like schoolchildren" "

[Saint_John]

Can't find a link for it, but this is in today's Observer:

 

"The property tycoon Rob Lloyd is still working on a bid to buy Portsmouth and will be in London tomorrow to continue negotiations. However AA has told Observer Sport that lloyd's plans to finance the takeover - and beat Hong Kong businessman Balram Chainrai, who is working on a sale-and-purchase buyout - depend on raising future revenues, including a stockmarket flotation of the club.

 

Following Pompey's high court victory on Thursday over HMRC, AA criticised some of the first team squad who he said were "holding the club to ransom" as he attempts to bring the wage bill under control.

 

 

Regarding Lloyd's interest in buying the club for a still unknown purchaser, AA said: "no one can fault Rob Lloyd's efforts. He is still a potential buyer and he's made differing proposals to us, but at the moment they are not really acceptable proposals. Most are based on future revenues - he is interested in a flotation of the club.

 

On the situation with the club's playing staff and wages he said: "The club is effectively being held to ransom by some players. They are behaving like schoolchildren" "

 

Yes I read that in the hardcopy version.

 

Yet only a couple of days ago they managed to convince Injustice Mann that it was a choice between Gunrunner's ex-business colleague or bust and then 2 days later he will be "will be in London tomorrow to continue negotiations" with somebody else.

 

Anyhow I like the comments about "holding the club to ransom" and then if you read their match report it says "while John Utaka, nominally their wide-left player had hardly touched the ball and would surely have left at half-time if Cotterill had any options on his bench.

 

Remind me again is he on 28k a week or 80k a week and how much does the taxman get ?

[gaz]

Can't find a link for it, but this is in today's Observer:

 

"The property tycoon Rob Lloyd is still working on a bid to buy Portsmouth and will be in London tomorrow to continue negotiations. However AA has told Observer Sport that lloyd's plans to finance the takeover - and beat Hong Kong businessman Balram Chainrai, who is working on a sale-and-purchase buyout - depend on raising future revenues, including a stockmarket flotation of the club.

 

Following Pompey's high court victory on Thursday over HMRC, AA criticised some of the first team squad who he said were "holding the club to ransom" as he attempts to bring the wage bill under control.

 

 

Regarding Lloyd's interest in buying the club for a still unknown purchaser, AA said: "no one can fault Rob Lloyd's efforts. He is still a potential buyer and he's made differing proposals to us, but at the moment they are not really acceptable proposals. Most are based on future revenues - he is interested in a flotation of the club.

 

On the situation with the club's playing staff and wages he said: "The club is effectively being held to ransom by some players. They are behaving like schoolchildren" "

 

Or are entitled to get what they are owed, like HMRC.

[Faz]

Can't find a link for it, but this is in today's Observer:

 

"The property tycoon Rob Lloyd is still working on a bid to buy Portsmouth and will be in London tomorrow to continue negotiations. However AA has told Observer Sport that lloyd's plans to finance the takeover - and beat Hong Kong businessman Balram Chainrai, who is working on a sale-and-purchase buyout - depend on raising future revenues, including a stockmarket flotation of the club.

 

Following Pompey's high court victory on Thursday over HMRC, AA criticised some of the first team squad who he said were "holding the club to ransom" as he attempts to bring the wage bill under control.

 

 

Regarding Lloyd's interest in buying the club for a still unknown purchaser, AA said: "no one can fault Rob Lloyd's efforts. He is still a potential buyer and he's made differing proposals to us, but at the moment they are not really acceptable proposals. Most are based on future revenues - he is interested in a flotation of the club.

 

On the situation with the club's playing staff and wages he said: "The club is effectively being held to ransom by some players. They are behaving like schoolchildren" "

 

These would be the same Schoolchildren who were encouraged to claim the full amount of their outstanding contracts in the CVA, and then vote in favour of said CVA, to ensure it passed.

[wightman35]

so they got away with it?

 

 

Yes they have, as predicted by many on this thread.

 

Toast? You have got to be joking. Teflon, maybe.

[SOTONS EAST SIDE]

I'm not going to sully my pooter by looking for this but, according to Mr TF, on the Poopey boards they're talking about being taken over by some Americans. The name Kraft has been mooted.

 

IIRC this was a name touted around when we were looking for a buyer?

 

No actually its Kraftwerk looking for a place with no atmosphere and a derelict look for their next album. Its called Dreckloch=Sh-ithole. lol

[rallyboy]

.....Hiroshima.....Harrisburg.....Sellafield.....Fratton.....Dubious-activity.....

[anothersaintinsouthsea]

I'm not going to sully my pooter by looking for this but, according to Mr TF, on the Poopey boards they're talking about being taken over by some Americans. The name Kraft has been mooted.

 

IIRC this was a name touted around when we were looking for a buyer?

 

If I had a pound for every time his name was mentioned on a football club message board as a potential buyer of said football club I'd have enough money to buy a decent club let alone the cheat skates.

[angelman]

Remind me again is he on 28k a week or 80k a week and how much does the taxman get ?

 

I think he said about a 1/3 of the reported £80k. About...hmm...so let's call it £30k a week. Now that could be either gross or net, only a peek at his contract or their accounts would tell, so it could cost Poopey well over £40k a week. I presume that it would be, as I am sure that foreign players especially would like a lump sum with all the tax already sorted out by their employer so that they (and/or their agents) don't have to worry about it. Does anyone know what standard practice is with football clubs?

[warsash saint]

.....Hiroshima.....Harrisburg.....Sellafield.....Fratton.....Dubious-activity.....

 

Horlicks over PC screen

[Joey-deacons-left-nut]

I'm not going to sully my pooter by looking for this but, according to Mr TF, on the Poopey boards they're talking about being taken over by some Americans. The name Kraft has been mooted.

 

IIRC this was a name touted around when we were looking for a buyer?

 

Lol... His name keeps getting bandied around, usually with the genius addition that he funded the American pre season tour, completely ignoring the fact it was done by some 2 bit promoter who had them playing some pub standard teams in front of 3 blokes and a dog...

 

 

It's just the filth putting 2 and 2 together, running out of fingers, and coming up with 32

[OldNick]

I went to a do on saturday night where there were a couple of friends who are with HMRC (1 high up in corporate collection) I have not spoken to them in all the time of the court case and dealings with Pompey as it would put them in a difficult position.As the case was over I asked them and they said they were devastated.They had not been on this case.

They say they are calling Pompey, HMRC FC and taxpayers fc .The FA cup needs to be re engraved

[View From The Top]

As some of you will know I have a friend who works in a senior (non playing staff) position at Wolves. They made enquiries about KPB and I've just seen that pompey wanted the entire transfer fee in one go and a 40% sell on clause in addition to wolves paying all the agents fees for both sides.

 

Apparently pompey wanting the fee upfront caused much laughter as did their "demands".

[rallyboy]

following on from Oldnick's comment, at the weekend I ran into a senior journalist who had access to every minute of the trial evidence and whose outlet was covering it in great detail, with a very local bias.

I asked him what he thought about the case and he too was astonished at the result, and couldn't believe that they 'got away with it' on all counts.

 

It seems that the taxman's QC's performance was regarded by some as slightly lacking in quailty or direction, but I couldn't agree with that, I'm sure he did really well and just got unlucky on the day. Twice.

 

I think the taxman needs to take a long hard look at how they operate when they get to court in future.

It's no good putting in all the hard work on the books over several years if you then hand the baton to a vague simpleton.

 

I don't see how the current set up could win a watertight case against Storrie, Redknapp and Manadaric - in light of recent results they must regard themselves as untouchable, no matter what evidence is produced.

[mickn]

As some of you will know I have a friend who works in a senior (non playing staff) position at Wolves. They made enquiries about KPB and I've just seen that pompey wanted the entire transfer fee in one go and a 40% sell on clause in addition to wolves paying all the agents fees for both sides.

 

Apparently pompey wanting the fee upfront caused much laughter as did their "demands".

 

If they are quoting these 'terms' to every potential buyer for KPB then surely there is not a club in the world who will buy him?

[JackFrost]

following on from Oldnick's comment, at the weekend I ran into a senior journalist who had access to every minute of the trial evidence and whose outlet was covering it in great detail, with a very local bias.

I asked him what he thought about the case and he too was astonished at the result, and couldn't believe that they 'got away with it' on all counts.

 

It seems that the taxman's QC's performance was regarded by some as slightly lacking in quailty or direction, but I couldn't agree with that, I'm sure he did really well and just got unlucky on the day. Twice.

 

I think the taxman needs to take a long hard look at how they operate when they get to court in future.

It's no good putting in all the hard work on the books over several years if you then hand the baton to a vague simpleton.

 

I don't see how the current set up could win a watertight case against Storrie, Redknapp and Manadaric - in light of recent results they must regard themselves as untouchable, no matter what evidence is produced.

 

Anyone know when those 3 have their court cases?

[Nadia Sllim]

Lets hope they all get it spot on against Arry and he is forced to hand back some of his ill gotten gains!

[Whitey Grandad]

Lets hope they all get it spot on against Arry and he is forced to hand back some of his ill gotten gains!

 

Allegedly, I presume you meant to say?

[Jimmy_D]

It occurs to me that right now, Pompey are still in administration. If the CVA was truly self funding, someone would have already taken over, but it's not. As posters on here have shown, there is a huge hole in the finances, Pompey is still a huge money sink for whoever takes over, hence we've got that magic 'if' word in Chanrai's statements when he talks about taking over, as well as it coming out that it was the administrator that approached Chanrai after the CVA, not the other way round.

 

The CVA doesn't mean anything until someone's willing to pay it, so right now they're in the same situation as we were, trying to sell a club out of admin with no-one actually willing to put the money in.

 

Maybe the fact that they're still in more debt than we were in, even though it's only 20% of what it was, along with the complete lack of infrastructure, complete lack of competitive playing staff, small crowds and therefore low income, along with some of the CVA money needed (from players sold and this years parachute payments) already apparently being missing is putting people off.

 

As we were painfully aware last season, any delay in a takeover hurts the club's chances on the field, so the fact that they haven't already been taken over points to them not being taken over at all.

 

This thread still has a few pages to run yet.

[Chez]

http://www.portsmouth.co.uk/sport/Cotterill-keen-to-bring-in.6463836.jp

I'm slightly confused as to why only "£7.5m has be generated now for the CVA" unless they mean £7.5m more if the £5m transfer of Ponce Boeteng goes though to Genoa

[Chez]

It occurs to me that right now, Pompey are still in administration. If the CVA was truly self funding, someone would have already taken over, but it's not. As posters on here have shown, there is a huge hole in the finances, Pompey is still a huge money sink for whoever takes over, hence we've got that magic 'if' word in Chanrai's statements when he talks about taking over, as well as it coming out that it was the administrator that approached Chanrai after the CVA, not the other way round.

 

The CVA doesn't mean anything until someone's willing to pay it, so right now they're in the same situation as we were, trying to sell a club out of admin with no-one actually willing to put the money in.

 

Maybe the fact that they're still in more debt than we were in, even though it's only 20% of what it was, along with the complete lack of infrastructure, complete lack of competitive playing staff, small crowds and therefore low income, along with some of the CVA money needed (from players sold and this years parachute payments) already apparently being missing is putting people off.

 

As we were painfully aware last season, any delay in a takeover hurts the club's chances on the field, so the fact that they haven't already been taken over points to them not being taken over at all.

 

This thread still has a few pages to run yet.

 

if they get rid of Utaka, Boateng and Nugent surely their remaining wage bill is buttons?

 

Jamie Ashdown

Aaron Mokoena

Matt Ritchie

Marc Wilson

Hayden Mullins

Danny Webber

Dave Nugent

Michael Brown

Marlon Pack

John Utaka

Tommy Smith

Richard Hughes

Kevin Boateng

Nadir Ciftci

Liam O'Brien

Peter Gregory

Paris Cowan-Hall

James Hurst

Tom Kilbey

Gautier Mahoto

Gael Nlundulu

Callum Reynolds

Joel Ward

Ibrahima Sonko

[pedg]

http://www.portsmouth.co.uk/sport/Cotterill-keen-to-bring-in.6463836.jp

I'm slightly confused as to why only "£7.5m has be generated now for the CVA" unless they mean £7.5m more if the £5m transfer of Ponce Boeteng goes though to Genoa

 

I do like the way they are looking at the premier league teams and wondering who they might get..

 

"you are all barstewards and you wanted us to die......... but could you let us have some cheap players please, if you could foot the bill that would be dandy"

[Weston Super Saint]

It occurs to me that right now, Pompey are still in administration. If the CVA was truly self funding, someone would have already taken over, but it's not. As posters on here have shown, there is a huge hole in the finances, Pompey is still a huge money sink for whoever takes over, hence we've got that magic 'if' word in Chanrai's statements when he talks about taking over, as well as it coming out that it was the administrator that approached Chanrai after the CVA, not the other way round.

 

The CVA doesn't mean anything until someone's willing to pay it, so right now they're in the same situation as we were, trying to sell a club out of admin with no-one actually willing to put the money in.

 

Maybe the fact that they're still in more debt than we were in, even though it's only 20% of what it was, along with the complete lack of infrastructure, complete lack of competitive playing staff, small crowds and therefore low income, along with some of the CVA money needed (from players sold and this years parachute payments) already apparently being missing is putting people off.

 

As we were painfully aware last season, any delay in a takeover hurts the club's chances on the field, so the fact that they haven't already been taken over points to them not being taken over at all.

 

This thread still has a few pages to run yet.

 

Not to mention that Chineri was [allegedly] being ratified as a fit and proper person BEFORE the court case so that he could take over immediately after....

 

So, either they lied about that - pretty sure it was brought up in court??? - or he didn't pass the test

[stevegrant]

So now Rob Lloyd is back on the scene again

 

http://www.guardian.co.uk/football/2010/aug/08/rob-lloyd-balram-chainrai-portsmouth

 

This quote from that article particularly amused me:

On the situation with the club's playing staff and wages he [Andronikou] said: "The club is effectively being held to ransom by some players. They are behaving like schoolchildren."

 

Shock horror, players who have signed a contract to receive a given amount of money actually want to stick to that contract

[EastleighSoulBoy]

if they get rid of Utaka, Boateng and Nugent surely their remaining wage bill is buttons?

 

Jamie Ashdown

Aaron Mokoena

Matt Ritchie

Marc Wilson

Hayden Mullins

Danny Webber

Dave Nugent

Michael Brown

Marlon Pack

John Utaka

Tommy Smith

Richard Hughes

Kevin Boateng

Nadir Ciftci

Liam O'Brien

Peter Gregory

Paris Cowan-Hall

James Hurst

Tom Kilbey

Gautier Mahoto

Gael Nlundulu

Callum Reynolds

Joel Ward

Ibrahima Sonko

 

Maths.

 

24 > 20 = No more dispensationsfrom FL?

[GenevaSaint]

Maths.

 

24 > 20 = No more dispensationsfrom FL?

 

ESB, you've forgotten the "these youngsters aren't ready to step up into the full squad yet" bleating.

[Deano6]

http://www.portsmouth.co.uk/sport/Cotterill-keen-to-bring-in.6463836.jp

I'm slightly confused as to why only "£7.5m has be generated now for the CVA" unless they mean £7.5m more if the £5m transfer of Ponce Boeteng goes though to Genoa

 

That article finally clears up how old Kanu really is...

 

And Cotterill is hopeful Kanu will be rejoining the Blues as talks with the Nigerian continue.

 

The 46-year-old is also confident Marc Wilson will stay put, with West Brom lining up a bid for the player.

[saintjay77]

 

Originally Posted by Merovingian

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.

 

Didnt think that would get answered lol

[saintjay77]

That article finally clears up how old Kanu really is...

 

Isnt that saying Cotterrill is 46?

[hypochondriac]

Isnt that saying Cotterrill is 46?

 

Whooosh.

[rallyboy]

yes Deano you silly sausage, you just misunderstood that for comic effect, Kanu is only 42.

 

How would you describe the side of a ship?

Irony.

[Rusty]

Maths.

 

24 > 20 = No more dispensationsfrom FL?

Apparently the first year pro's doint count, and not all the players in the list are available. Cowan Hall, Mahoto, Nlundulu, have gone.

[Doctoroncall]

if they get rid of Utaka, Boateng and Nugent surely their remaining wage bill is buttons?

 

Jamie Ashdown

Aaron Mokoena

Matt Ritchie

Marc Wilson

Hayden Mullins

Danny Webber

Dave Nugent

Michael Brown

Marlon Pack

John Utaka

Tommy Smith

Richard Hughes

Kevin Boateng

Nadir Ciftci

Liam O'Brien

Peter Gregory - doesn't count as first year pro

Paris Cowan-Hall - left

James Hurst - on loan

Tom Kilbey - doesn't count as first year pro

Gautier Mahoto - trying to pay up contract

Gael Nlundulu - trying to pay up contract

Callum Reynolds - doesn't count as first year pro

Joel Ward

Ibrahima Sonko

 

I think that is the situation, so they maybe allowed a couple of frees/loans if not too expensive under the FL's case-by-case objective, but if they manage to off-load KPB and Utaka then I expect they could get some decent frees/loans if available and willing to go to the club.

[hypochondriac]

Van Den Borre (sp) Is rumoured to have signed for them in exchange for Boateng. Good player if true.

[stevegrant]

Van Den Borre (sp) Is rumoured to have signed for them in exchange for Boateng. Good player if true.

Surely not a straight swap?!

[suewhistle]

Just a reminder of what I heard listening to AA outside the court on Tuesday, he stated that the wage bill was £46m at it's peak, was down to £14m and they were aiming for £10m. There was also an offer of £1.5m from West Brom for Marc Wilson. If the latter is true why didn't they accept it : is it the player, although I would have thought that anybody who could get away from Pompey would take the chance?

 

If the former statement is true what happens if they can't off-load the high-earners? They're still in deep poo.

[hypochondriac]

Surely not a straight swap?!

 

Nah. 5.8 million as well I think. Also speculation that VDB will be on loan.

[Rusty]

Just a reminder of what I heard listening to AA outside the court on Tuesday, he stated that the wage bill was £46m at it's peak, was down to £14m and they were aiming for £10m. There was also an offer of £1.5m from West Brom for Marc Wilson. If the latter is true why didn't they accept it : is it the player, although I would have thought that anybody who could get away from Pompey would take the chance?

 

If the former statement is true what happens if they can't off-load the high-earners? They're still in deep poo.

Apparently it's not enough and he wants to stay. Being a youth-teamer he's probably not on silly wages and is now captain as well, so might be an incentive for him to stay.

[OldNick]

Just a reminder of what I heard listening to AA outside the court on Tuesday, he stated that the wage bill was £46m at it's peak, was down to £14m and they were aiming for £10m. There was also an offer of £1.5m from West Brom for Marc Wilson. If the latter is true why didn't they accept it : is it the player, although I would have thought that anybody who could get away from Pompey would take the chance?

 

If the former statement is true what happens if they can't off-load the high-earners? They're still in deep poo.

46m wage bill, he has done well to get that down to 14.

[Doctoroncall]

Nah. 5.8 million as well I think. Also speculation that VDB will be on loan.

 

a source on twitter

[stevegrant]

a source on twitter

Why would Genoa buy him only to loan him to AC Milan?

[Rusty]

Perhaps it's one of those weird Italian co-ownership deals?

[1976_Child]

Is this thread contender for the longest thread on any forum ever? Must be!

 

Keep it up lads.

[Spudders]

Is this thread contender for the longest thread on any forum ever? Must be!

 

Keep it up lads.

 

A non football forum I go on has a thread about favourite biscuits that's almost twice as long

[SimplyRed&White]

For those interested here is the Judgment handed down, in full

 

http://www.bailii.org/ew/cases/EWHC/Ch/2010/2013.html