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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Weston Super Saint

Weston Super Saint

Posted
Posted

Lol.

 

Was Lampitt shouting from the rooftops that they have supplied everything to the FL and it should all be rubber stamped today.

 

Then they issue a statement on their website, saying the FL want FOUR more things to be complied with.

 

Now, we know how they like to lie and cheat, so can we assume those four things are really eight things :D

 

I wonder what they are?

 

1. Have you got any money?

2.

3.

4.

5.

6.

7.

8.

 

Feel free to fill in the blanks....

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qwertySFC

qwertySFC

Posted
Posted
Lol.

 

Was Lampitt shouting from the rooftops that they have supplied everything to the FL and it should all be rubber stamped today.

 

Then they issue a statement on their website, saying the FL want FOUR more things to be complied with.

 

Now, we know how they like to lie and cheat, so can we assume those four things are really eight things :D

 

I wonder what they are?

 

1. Have you got any money?

2.

3.Can you put the decimal point in the correct place 100000

4.

5.

6.

7.

8.

 

Feel free to fill in the blanks....

 

(3)

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rallyboy

rallyboy

Posted
Posted

the four requirements -

 

1. Pay your effing bills

2. Stop ignoring the transfer embargo.

3. Accept that the FA Cup was obtained by deception.

4. Show some humility by apologising to the rest of football.

5. Stop manipulating figures on squads or debt, it's really obvious when 4 becomes 5 etc.

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EastleighSoulBoy

EastleighSoulBoy

Posted
Posted
I didn't think they would be, I thought they wouldn't be allowed to start next season full stop unless they came out of admin

 

 

The club will now take time to consider the feedback from the meeting ahead of further discussions with The Football League.

 

There's nothing to consider.

 

Comply or feck off, never to darken football's door again.

 

DFCSBs.

 

Where's the Ho?

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andysstuff

andysstuff

Posted
Posted (edited)

Some right whinging going on re the decision not to give the golden share today.

 

Nice to see they still can't grasp the difference between PL FA and FL though,

 

http://www.portsmouth.co.uk/frattonlatest/Pompey-still-in-administration.6581867.jp?utm_source=feedburner&utm_medium=twitter&utm_campaign=Feed%3A+FrattonLatest+%28Portsmouth.co.uk+-+Pompey+Newsletter%29&utm_content=Twitter&CommentPage=3&CommentPageLength=10#comments

 

Wonder how long before my comments are deemed unsuitable. lol

Edited by andysstuff
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Saint_John

Saint_John

Posted
Posted
I have also replied to the FA.

 

I have mentioning the Roy Keane charge (thanks rallyboy)

http://www.thefa.com/TheFA/Disciplinary/NewsAndFeatures/2002/23452

plus a few other issues (Daniel Azougy; Mark Jacob's use of Fuglers; Chris Le Besque) etc.

 

As I said a couple of days ago I replied to the FA :-

Thank you for your reply to my question about "Why hasn't Mokoena been charged ?", however as a football supporter I am deeply shocked at your reply that there is "insufficient evidence" to charge the Cheats (portsmouth) FC's player Mokoena.

 

The BBC Radio Solent link is quite clear in that the player ADMITS "...I done him FIRST with an elbow....", this radio broadcast was heard all over Southern England. In the past the FA have set a precedence when they charged Roy Keane following his admission in a book over the Haaland tackle (http://www.thefa.com/TheFA/Disciplinary/NewsAndFeatures/2002/23452).

Why was Keane charged but NO CHARGE has been brought against Mokoena ?

 

Like a lot of football supporters I am becoming concerned that the FA appear to be allowing CHEATS FC to break FA rules at will with NO CHARGE being brought against them whereas Players and other Clubs appear to be charged for minor things.

 

For example :-

1/ Daniel Azougy - a Convicted Fraudster - running the club (source Guardian) which I believe is against FA rules.

Result - NO CHARGE.

 

2/ Mark Jacob using Fugler's Client Account to run the Club and "who themselves then paid football creditors (and others)." (Note the "Others" when a WUO had been started) - taken from Mr Justice Mann judgment (Section 16 of http://www.bailii.org/ew/cases/EWHC/Ch/2010/2013.html)

- which I believe to be similar to Luton Town's charge.

Result - NO CHARGE.

(Some supporters remember the treatment handed out to Luton Town http://www.thefa.com/TheFA/Disciplinary/NewsAndFeatures/2008/Statement4Jun08

for running their Club "... with a flagrant disregard for the Regulations laid down to protect the game.... " which IMO was MINOR compared to what the CHEATS FC have been allowed to get away with).

 

3/ Using a unlicensed Agent - Chris LeBesque in the transfer of Diarra (source Sun).

Result - NO CHARGE.

 

Thanking you in advance

 

 

I received the following reply from the FA :-

Dear John

 

Thank you for contacting The Football Association.

 

I am afraid that we are unable to provide any further information regarding this matter other than what has previously been mentioned to you.

 

Kind regards

 

The only difference this time is I had received a reply from an "Customer Relations Officer", the 1st email was from an "Customer Relations Assistant" so I must be going higher up the chain.

 

But he didn't answer any of my points why ?

(At least I got those issues off my chest however they cannot say at a later date they weren't brought to their attention).

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Micky

Micky

Posted
Posted

Forgive my ignorance but I thought that their current 'owner' stated recently that he was willing to stump up any shortfall of funds to the tune of about 7 mil. How come there is a financial problem and they cannot pay wages?

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andysstuff

andysstuff

Posted
Posted
Some right whinging going on re the decision not to give the golden share today.

 

Nice to see they still can't grasp the difference between PL FA and FL though,

 

http://www.portsmouth.co.uk/frattonlatest/Pompey-still-in-administration.6581867.jp?utm_source=feedburner&utm_medium=twitter&utm_campaign=Feed%3A+FrattonLatest+%28Portsmouth.co.uk+-+Pompey+Newsletter%29&utm_content=Twitter&CommentPage=3&CommentPageLength=10#comments

 

Wonder how long before my comments are deemed unsuitable. lol

 

It's gone following someone calling me a c*nt. Very easily wound up at the moment for some reason!

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stevegrant

stevegrant

Posted
Posted
Forgive my ignorance but I thought that their current 'owner' stated recently that he was willing to stump up any shortfall of funds to the tune of about 7 mil. How come there is a financial problem and they cannot pay wages?

He's already contributed £7m during administration, so I expect he's (finally) discovered some financial sense.

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sidthesquid

sidthesquid

Posted
Posted
Lol.

 

Was Lampitt shouting from the rooftops that they have supplied everything to the FL and it should all be rubber stamped today.

 

Then they issue a statement on their website, saying the FL want FOUR more things to be complied with.

 

Now, we know how they like to lie and cheat, so can we assume those four things are really eight things :D

 

I wonder what they are?

 

1. Have you got any money?

2.

3.

4.

5.

6.

7.

8.

 

Feel free to fill in the blanks....

 

 

Easy

1. Have you got any money?

2.Have you got any money?

3.Have you got any money?

4.Have you got any money?

5.Have you got any money?

6.Have you got any money?

7.Have you got any money?

8.Have you got any money?

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saintjay77

saintjay77

Posted
Posted
What does this all mean exactly ?

 

Another wait for them to get back to the FL with a new BP that will get rejected again. If that happens soon then next months FL meeting it will be discussed again and if previous meetings are anything to go by it will get thrown out again.

 

I wonder how much longer it will go on before someone pulls the plug?

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Chez

Chez

Posted
Posted
And it's only £20 a ticket. They always said we got higher attendances because we practically gave tickets away.

 

They really do have poor support.

1000 of those are given to the Navy free of charge for each home game.
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dubai_phil

dubai_phil

Posted
Posted
Not sure if its been posted previously but am I correct in thinking that Dr Al Farim, now hosts the Apprentice in UAe or Saudi.?

 

That was around 200 pages ago. He was head of Hydra Properties Abu Dhabi & ran a local reality show called The Hydra Executive where the winner (strangely a cute Western Blonde chick allegedly) got to become his PA at Hydra.

 

Which all went boobs up when he got "relocated within the organisation" prior to taking up Chess

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dubai_phil

dubai_phil

Posted
Posted
That was around 200 pages ago. He was head of Hydra Properties Abu Dhabi & ran a local reality show called The Hydra Executive where the winner (strangely a cute Western Blonde chick allegedly) got to become his PA at Hydra.

 

Which all went boobs up when he got "relocated within the organisation" prior to taking up Chess

 

 

Oops sorry BIG mistake - about 500 pages ago

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Jimmy_D

Jimmy_D

Posted
Posted
How quickly will the skates find a loop hole to get around this? Not long I am betting.

 

They're finding as we did that the FL, unlike the Prem, has teeth.

 

We DID find a loophole and they cracked down on us for trying to use it.

 

Anyway, so far as I can see, AA managed to get the creditors to agree to a ridiculously cheap CVA, and their finances are so shot that they can't even afford that, and the only person that could possibly afford it, Chanrai, is being blocked from taking over by the FL, possibly due to failing the FaPPT.

 

This leaves the Administrator picking up the tab on any losses Pompey make as they're still in administration. I can't imagine AA's bosses will let him go on for too much longer if he ends up costing them money.

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dubai_phil

dubai_phil

Posted
Posted
This leaves the Administrator picking up the tab on any losses Pompey make as they're still in administration. I can't imagine AA's bosses will let him go on for too much longer if he ends up costing them money.

 

If that happens you may want to buy Champagne futures. A lot of people in IP & the City will be drinking to that magic moment

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Red and White Army

Red and White Army

Posted
Posted
http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/9093733.stm

 

Steve Cotterill in "World's against us, we done nuffink wrong" shocker...

 

Does anyone have a handle on what the four points are? We all know what they could be, but any leaked gossip or information on where Pompey have been unable to provide assurances to the FL?

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Matthew Le God

Matthew Le God

Posted
Posted (edited)

It has happened...

 

toasterandtoast.jpg?w=358&h=450

 

The words of Andrew Andronikou after the Football League's meeting on Thursday 14th October 2010...

 

“The league are saying Portpin have to waive their securities in favour of the Company Voluntary Arrangement (CVA) payments, which is never going to happen in a million years,” said a frustrated Andronikou.

 

“It is rather like in the Liverpool situation for the Premier League to ask the Royal Bank of Scotland to waive its £280million. There is absolutely no difference in the two scenarios.

 

“The league know the situation we are in. We have no cash flow, and as administrators we cannot continue to trade with thin air. They have put us in a position where it is virtually impossible to keep trading as a club.

 

“I get the feeling that the Football League and Premier League are either completely naive or they are telling us to shut Portsmouth Football Club.

“The Football League know Mr Chainrai, he has been vetted by them and they are happy with him. They also have an undertaking from him to provide £5m to the club. In the past they have asked for everything from the purchaser – now they have asked for one thing too many.”

 

A league statement read: “As with any club that goes into administration, the Football League are focused on ensuring that any takeover delivers a sustainable future for the club that is fair to creditors and fans of all clubs. This is what our requirements in this case aim to achieve.” Andronikou will inform Chainrai of the league’s decision today, and fully expects the Hong Kong businessman to end his interest in buying Pompey.

 

Chainrai has already made it clear he only wants the club short-term to try to restore stability, and then sell it on to someone with long-term plans for the club. But the bleak prospect is that Pompey, founded in 1898, may have only days left before being forced out of business.

 

“The only thing I can see now is for the purchaser to reject the Football League demands and walk away, and if he has anyone advising him, then I am sure that is what they will say,” said Andronikou. “Why would anyone want to buy the club under these circumstances?

 

“If the Football League want us to close the club I wish they were more direct in their approach, and just tell us to do it. I am not going to continue in this situation, and it is not a case of ‘will not’ it is more a case of ‘cannot’.

 

“We cannot trade into next month. By the end of this month we will not have sufficient funds to pay wages. There is no one else out there prepared to buy the club and provide the working capital to keep us going and satisfy these impossible terms.

 

Sounds like this could be the end...

 

http://www.express.co.uk/posts/view/205484/Pompey-are-on-the-brink-of-administration-again

Edited by Matthew Le God
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BigShadow

BigShadow

Posted
Posted
The words of Andrew Andronikou after the Football League's meeting on Thursday 14th October 2010...

 

“The league are saying Portpin have to waive their securities in favour of the Company Voluntary Arrangement (CVA) payments, which is never going to happen in a million years,” said a frustrated Andronikou.

 

My guess... the FL don't believe the CVA can be met with the existing cashflow projections so they are asking Chainrai to waive his right to his secured debt £15m? £21m? in order to ensure the creditors get what is due under the CVA. That would remove the sole reason Chainrai is actually interested in buying the cesspit of a club.

 

“It is rather like in the Liverpool situation for the Premier League to ask the Royal Bank of Scotland to waive its £280million. There is absolutely no difference in the two scenarios.

 

Wrong again AA. It is nothing like the Liverpool situation. Liverpool are not in Administration (at time of writing) and have not tried to wriggle their way out of £100m of debt. The Royal Bank of Scotland are not buying Liverpool so why would they be required to waive £280m in order to pay creditors - the new owners will assume responsibility for that. RBS stands to make no additional gain other than receiving what it is owed. Chainrai on the other hand probably wants to get his money out before completing the CVA payments, and then flog the club for a profit asap. Seems the FL have sussed the AA/Chainrai plan for what it really appears to be.

 

Now...who said this thread should be closed??? :lol:

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Kingsbridge Saint

Kingsbridge Saint

Posted
Posted (edited)

“The league are saying Portpin have to waive their securities in favour of the Company Voluntary Arrangement (CVA) payments, which is never going to happen in a million years,” said a frustrated Andronikou.

 

“It is rather like in the Liverpool situation for the Premier League to ask the Royal Bank of Scotland to waive its £280million. There is absolutely no difference in the two scenarios.

 

“The league know the situation we are in. We have no cash flow, and as administrators we cannot continue to trade with thin air. They have put us in a position where it is virtually impossible to keep trading as a club.

 

“I get the feeling that the Football League and Premier League are either completely naive or they are telling us to shut Portsmouth Football Club.

“The Football League know Mr Chainrai, he has been vetted by them and they are happy with him. They also have an undertaking from him to provide £5m to the club. In the past they have asked for everything from the purchaser – now they have asked for one thing too many.”

 

A league statement read: “As with any club that goes into administration, the Football League are focused on ensuring that any takeover delivers a sustainable future for the club that is fair to creditors and fans of all clubs. This is what our requirements in this case aim to achieve.” Andronikou will inform Chainrai of the league’s decision today, and fully expects the Hong Kong businessman to end his interest in buying Pompey.

 

Chainrai has already made it clear he only wants the club short-term to try to restore stability, and then sell it on to someone with long-term plans for the club. But the bleak prospect is that Pompey, founded in 1898, may have only days left before being forced out of business.

 

“The only thing I can see now is for the purchaser to reject the Football League demands and walk away, and if he has anyone advising him, then I am sure that is what they will say,” said Andronikou. “Why would anyone want to buy the club under these circumstances?

 

“If the Football League want us to close the club I wish they were more direct in their approach, and just tell us to do it. I am not going to continue in this situation, and it is not a case of ‘will not’ it is more a case of ‘cannot’.

 

“We cannot trade into next month. By the end of this month we will not have sufficient funds to pay wages. There is no one else out there prepared to buy the club and provide the working capital to keep us going and satisfy these impossible terms.

 

YOU SIGNED KITSON AND LAWRENCE ON 40 GRAND A WEEK YOU GIMP, NOT THE FL.

Edited by Kingsbridge Saint
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dubai_phil

dubai_phil

Posted
Posted

Well well well. Looks like the FL came to the same (pretty damned obvious) conclusion that I did all those hundreds of pages ago.

 

Chanrai got stitched up, appointed a pet administrator in order to spin things out as long as possible to get his money back from the parachute payments.

 

The parachute would have kept the club running.

 

Again, if this is the start of the end game then I do feel for the true fans of the club. They never stood a chance once Sultan Bin Trump (who never HAD any money) & Ali Al Faraj (who was a figment of Storrie's imagination) came to the club.

 

The Few should not blame Chanrai, he was never a charity, just some money lender who got conned. Look back further and vent your anger on the original idiots who SHOULD have gone into admin a year earlier and MIGHT have been able to save the club if it wasn't for their own greed.

 

All allegedly of course and all long distance analysis

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