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Pompey Takeover Saga


Fitzhugh Fella

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that's quite an admission Mero - a mate of mine who is a pompey fan has just about given up with football completely, the last few games seem to have been the last straw for a few, of the few.

 

Before you wave the white flag we still have a lot of work to do before we can resume our rightful position (see arrogance/Holloway!)

So before Ho reappears spouting his unique version of events, barring a lunatic with cash rolling into town, what would you like to happen next?

 

From the bitter rivals point of view I think most of us just want to see some justice served for the obvious criminality and deception that has surrounded the club and assisted it so much on the pitch.

I would think that a demotion to Lg 2 and cancelling of player contracts registered with the league wouldn't be harsh, and the police can then pursue any charges they want to bring against individuals.

It would free the club from these crippling £40K a week wages, force a re-think on finances, chase away most vultures and allow the club to start again.

Downside? The creditors would suffer, but they voted for getting nothing so that's their problem.

Sadly the league won't do that as the club must have signed player contracts that commit them to pay MILLIONS over the next few years, all protected by football creditor rules - pompey continue to dig their own corporate grave, no doubt they will sign someone else on ridiculous terms anyday soon.

And that's why sympathy is thin on the ground.

 

Was that 1-0 win over a midtable and bankrupt championship club still worth the £100M it must have cost?

Was the illegal acquisition of players for the 4-1 win at St Marys worth sending the club back towards liquidation?

'we beat the scummers!' - yes, and it might yet cost you the whole club.

Brighton and Southampton are flourishing, it might be time to admit that the cup wasn't worth it.

 

There are certainly some big gamblers down that way - and like 99% of gamblers, they fail.

 

Having seen Saints on the brink of closure I wouldn't gamble the whole club for anything.

 

This.

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the national papers were stating that Pompey were in more than 50m in debt when MM was there. of course PS came out and said it was not true....so of course they weren't Lol

Interestingly, Portsmouth City Football Club Limited's accounts for the year ended 30th June 2007 (before Gaydamak decided he'd finished with this particular washing machine) show net liabilities of £30m, and total debts of £68.9m, of which £66.8m were debts falling due within one year. Any suggestion that nobody knew about the severity of the club's financial situation is utter nonsense.

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Inside the back of the Mail.

 

AA has been given a Yellow card. Fined £500 + £2167 costs by the Institute of Chartered Accountants in relation to pre pack turn around of another company (not named), They said that AAsent a note to unsecured creditors that did not give enough detail of the firms value nor the extent of his involvement before it went into admin.

 

Wait till they unravel pompey

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Assuming you'referring to our debt, before Chainrai came in we were about £35m in debt. That somehow rose to the £132m Andronikou quoted. Our financial problems have been engineered/ manipulated by these crooks for their own benefit but somehow, in your (Saints fans) hatred and bitterness to PFC it's become the club's/ fans fault. We had no problems with HMRC up until Gaydamak stopped funding and Standard Bank called in a £40m loan overnight - a bit more than the £6K that caused your problems eh?

 

You lot constantly bleat about wages for loan players with absolutely no clue about how much we're paying them, whether we're paying anything of their wages or a percentage. You say we should have moved players on to cut the wage bill but they're on contracts and refuse to leave. You pick on one post by a Pompey fan on a messageboard somewhere and somehow it becomes representative of every Pompey fans views but ignore the fact that Saints fans post incredibly dumb comments on this very board (Lambert for England anyone?).

 

The year we were promoted the common view on here was that we bought it. Now you're doing just that it's apparently completely acceptable. It's all so laughable. Or would be if anything new got posted. It's just the same old ****, going round and round and round and it's dull and boring.

 

It used to be a really good laugh on this board but Christ, you lot got so bitter about seeing us above you after relegation and then the cup win. It's so dull.

 

4 -1 x 2. PMSL

 

The loan was actually £25m - With numeracy skills like that I am beginning to think you could be Peter Storrie (or at least spend time with him socially). Let us not forget what the loan was for:

 

"Gaydamak took out a loan with Standard Bank before a signing spree that helped the club win the FA Cup and qualify for Europe for the first time, but they have hit trouble since and the owner wants out."

 

http://www.mirror.co.uk/sport/football/2009/02/26/portsmouth-facing-financial-crisis-as-25million-loan-is-called-in-115875-21154200/

 

Looks like Standard Bank could see the writing on the wall very early.

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Do you think Pompey will be in trouble for fielding their entire youth squad in a cup game.......?

His name is Tom Kilbey

 

I'm surprised SC hasn't used Tom as a scape goat and blamed the result on having to play the kids that are not good enough!

 

Seem to remember Harry using that excuse when he through the youth on for a televised FA Cup match we had. Think he played more than 1 though and didn't seem to give them much direction at the time maybe to prove his own point.

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People talk about any manager that goes to Pompey recently suffering from having a very low IQ and spouting all sorts of rubbish in pre match and post match interviews.

 

Considering they were stupid enough to take the job in the first place maybe we shouldn't be that surprised at the sort of garbage Avram and Cotterill have come out with and will continue to come out with.

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With thanks to an old poster from here, I found this on his Facebook Wall....

 

 

Nigel Adkins and Steve Cotterill met up in a pub last night,

they had one drink, then another, and then a third...

After he had finished his drink, Nigel turned to Cotterill and said...

"Shouldn't you **** off now? It's the fourth round..."

 

Nice one Dude, he knows who he is!

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If they did get relegated this season (and I don't think they will) I genuinely think that would be the end of them

 

But surely simply not getting promoted would be the end of them? Can't see BC wasting any more money on wages next season in another futile attempt to go up. I'd expect the best the few could hope for is that he'll keep them on life support until the parachute payments dry up.

 

It's such a shame. :D

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But surely simply not getting promoted would be the end of them? Can't see BC wasting any more money on wages next season in another futile attempt to go up. I'd expect the best the few could hope for is that he'll keep them on life support until the parachute payments dry up.

 

It's such a shame. :D

 

and I think that's what will happen unless someone is daft enough to buy them out or they manage to get promoted.

 

If they got relegated the consequences that would bring would be terminally damaging IMO

Edited by JackFrost
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you don't really think they intend to pay a penny towards the cva do you??

 

March was mentioned, which might explain the next eight weeks being touted as apocalypse time.

Without a change of fortune they could be in a relegation battle by then, as well as undeniably insolvent.

 

I'm not sure that the cva will ever leave the starting blocks, in fact if it were a horse it would be shot in the parade ring - which sounds painful.

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All well and good wanting to sell - we know he's wanted to sell since before he took control - but you've got to find someone stupid enough to come up with the money first.

 

It's not just the money either. There is still the insolvency commission involvement, that could lead to financial irregularities and of course storries tax case. Both would lead to points deductions that wouldn't go away just because of new owners.

 

With chanerais debt secured, he coud structure a deal that would be perfect for lifelongpompey type person to come in for little or no money, take on the debt and obligations of the CVA (including his) and walk away, if he really does want out.

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All well and good wanting to sell - we know he's wanted to sell since before he took control - but you've got to find someone stupid enough to come up with the money first.

 

It's not just the money either. There is still the insolvency commission involvement, that could lead to financial irregularities and of course storries tax case. Both would lead to points deductions that wouldn't go away just because of new owners.

 

With chanerais debt secured, he coud structure a deal that would be perfect for lifelongpompey type person to come in for little or no money, take on the debt and obligations of the CVA (including his) and walk away, if he really does want out.

 

Exactly - it's a case of what you are selling. How do you sell what effectively is a mountain of debt, not many people want to buy such a product, strangely.

 

Perhaps there is somebody out there who can see posible potential in the club, but would have to be one hell of an optimist.

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the hunt continues for that elusive billionaire who hasn't yet come across the term due diligence.

 

I'm curious about the idea of a fan buyout - free the club of all the vultures for £1 and let the fans decide the future...

 

 

 

 

 

and what's that in the small print?...take personal responsibility for £50M of liabilities and ongoing legal actions with potential penalties.

 

With reinvestment needed I would say a local fan group needs to find about £100M to turn them around, no doubt Chanrai will lend them some of that and take all of their caravans and pick ups off them as security.

As he's proved with pompey, there is nothing a loan shark likes more than someone who can't afford the repayments.

 

The amount that a local business consortium could realistically raise would only be enough to pay one player's wages for a year - the dream of fan ownership is less likely than HMS Victory leading the next defence of the Falklands.

 

Or for £100M you could afford to buy Wigan, Blackpool AND Wolves.

 

Roughly speaking,

three Prem teams = the money required to stabilise pompey.

 

as stated a million pages back by anyone with half a brain -

Figures don't add up.

So there will be no buyer with serious business credentials.

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Stolen from the dark side, but it seems to make sense (For sacha anyway) and would also fook chanerai up, which would be the added bonus in this poker game.

 

 

"I was in Pompey on Sunday at a family do and a relative of someone there got talking to me and I realised he works at FP albeit at a pretty low level but he has survived the culls thus far.

 

He claims that what passes for the management of Pompey, are aware of a move by Miland properties to see if they can sell the car park for the development of a smaller scale Tesco and to re-devleope the megastore into a Tesco filling station.

 

I have absolutely nothing to corroborate what I have been told but the guy was confident about what he was saying but had no idea whether Miland could pull off such a move".

 

Gaydamak is in a financial hole on his FP landholdings (listed as being worth £17 million in Milands latest credit report which is lower than it is currently valued at by the same report and there is a substantial mortgage to cover).

 

If there were development as suggested by this rumour, Fratton Park would be largely landlocked and turning the ground around impossible (which might be just Gaydamak wants in view of his near hatred of BC and his cohorts).

 

Just one more rumour for the pot, no certain provenance but sensible from Sasha's viewpoint

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not sure I would want them to go down (assuming we carry on like this and go up) as games like this wont happen again

 

one of my favourite SMS games....night game V pompey and it was a brilliant night...

 

then again, I hate them....so yes, on reflection...I hope they die as a club

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not sure I would want them to go down (assuming we carry on like this and go up) as games like this wont happen again

 

one of my favourite SMS games....night game V pompey and it was a brilliant night...

 

then again, I hate them....so yes, on reflection...I hope they die as a club

 

And have the last meeting between the two clubs be a 4-1 smashing of Saints on our own pitch?

 

No thanks.

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Stolen from the dark side, but it seems to make sense (For sacha anyway) and would also fook chanerai up, which would be the added bonus in this poker game.

 

 

"I was in Pompey on Sunday at a family do and a relative of someone there got talking to me and I realised he works at FP albeit at a pretty low level but he has survived the culls thus far.

 

He claims that what passes for the management of Pompey, are aware of a move by Miland properties to see if they can sell the car park for the development of a smaller scale Tesco and to re-devleope the megastore into a Tesco filling station.

 

I have absolutely nothing to corroborate what I have been told but the guy was confident about what he was saying but had no idea whether Miland could pull off such a move".

 

Gaydamak is in a financial hole on his FP landholdings (listed as being worth £17 million in Milands latest credit report which is lower than it is currently valued at by the same report and there is a substantial mortgage to cover).

 

If there were development as suggested by this rumour, Fratton Park would be largely landlocked and turning the ground around impossible (which might be just Gaydamak wants in view of his near hatred of BC and his cohorts).

 

Just one more rumour for the pot, no certain provenance but sensible from Sasha's viewpoint

 

Well when it comes to them getting their just deserts.. every little helps.

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the hunt continues for that elusive billionaire who hasn't yet come across the term due diligence.

 

I'm curious about the idea of a fan buyout - free the club of all the vultures for £1 and let the fans decide the future...

 

and what's that in the small print?...take personal responsibility for £50M of liabilities and ongoing legal actions with potential penalties.

 

With reinvestment needed I would say a local fan group needs to find about £100M to turn them around, no doubt Chanrai will lend them some of that and take all of their caravans and pick ups off them as security.

As he's proved with pompey, there is nothing a loan shark likes more than someone who can't afford the repayments.

 

The amount that a local business consortium could realistically raise would only be enough to pay one player's wages for a year - the dream of fan ownership is less likely than HMS Victory leading the next defence of the Falklands.

 

Or for £100M you could afford to buy Wigan, Blackpool AND Wolves.

 

Roughly speaking,

three Prem teams = the money required to stabilise pompey.

 

as stated a million pages back by anyone with half a brain -

Figures don't add up.

So there will be no buyer with serious business credentials.

 

So you're saying they're f**ked? :lol:

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http://www.portsmouth.co.uk/sport/Hotheaded-Pompey-handed-FA-punishment.6686236.jp?CommentPage=2&CommentPageLength=10#comments

 

Is someone going to tell cotterill that was his transfer budget?

 

If they don't find their new billionaire soon, sc might get a nasty shock and not get the three new players he has demanded in January

 

He'll be fine.

 

A very desirable Managerial Vacancy will shortly come up, giving him the chance to work with a real club and with real funds for the transfer window.

 

yep, Eddie Howe is expected to quit Bournemuff, SC will jump at the chance to move to a bigger club with a more loyal fanbase

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I'll say one thing for Maradonna, he won't be rushed.

 

Fahim has been working behind the scenes on this one

 

http://www.portsmouth.co.uk/sport/Kitson39s-red-card-to-stand.6686253.jp

 

Unlucky skates, that’s a 3 match ban and 60k in wages down the ****ter, won’t help with Cotterrablles tiny squad of overpaid fools... shame he’s given up on the free scoring Ritchie and Pack, or his entire youth 'set up'.

 

http://www.portsmouth.co.uk/sport/Fightback-comes-too-late-for.6686179.jp

 

this is the youth team that Cotterrant has decided isn’t even worth consideration, a spiteful move by a bitter and confused skate manager, fergie wanted to spot some potential last night.

 

http://www.portsmouth.co.uk/alanmcloughlin/Urgent-need-for-new-players.6686175.jp

 

Nope, sorry kids, were still towing this ridiculous front instead. psst, it’s because were corrupt ;)

 

http://www.portsmouth.co.uk/frattonlatest/Hreidarsson-will-have-to-bide.6686184.jp

 

Is this the crippled OAP that you dished out a massive contract to recently?

 

http://www.portsmouthfc.co.uk/LatestNews/news/Pompey-Shatter-Palace-1788.aspx

 

The skate *****es are softening up the pitch at ACF POOpeys new ground. Not quite the super dooper floating harbour side navy carrier potty stadium as planned, but that was gadymacks idea, and he’s in the past, him and daddy are moving into demolition and supermarkets now.

 

You skates crack me up, so full of ****!

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http://www.portsmouthfc.co.uk/LatestNews/news/Pompey-Shatter-Palace-1788.aspx

Loving the eyebrows! What makes a reasonably attractive girl pluck out her normal eyebrows and paint them back in with a wobbly hand to get that 'just goosed' retard expression? Maybe its an attempt to fit in in Skatesville.

 

:lol: noticed that but just thought they all look like that down there.

 

this caught my eye as well http://www.portsmouthfc.co.uk/walloffame/

anyone got spare £50 to immortalize a message to our fishy neighbours ;)

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http://www.portsmouthfc.co.uk/LatestNews/news/Pompey-Shatter-Palace-1788.aspx

Loving the eyebrows! What makes a reasonably attractive girl pluck out her normal eyebrows and paint them back in with a wobbly hand to get that 'just goosed' retard expression? Maybe its an attempt to fit in in Skatesville.

 

LMAO that is just too funny!!! My what an attractive look. LOL

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Don't dismiss it, there is some interesting stuff in there. Espeacially the last answer, but portpin, never paid for admin (Like we didnt know, but now comfirmed by lampitt)

HMRC, will have bigesst baring on firm of forensic investigations .... Not uhy.

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Don't dismiss it, there is some interesting stuff in there. Espeacially the last answer, but portpin, never paid for admin (Like we didnt know, but now comfirmed by lampitt)

HMRC, will have bigesst baring on firm of forensic investigations .... Not uhy.

 

That is interesting - and encouraging - because I thought UHY had put themselves forward to be appointed liquidator and carry out the forensic investigation. The chances of a proper investigation being carried out appeared dubious under those circumstances, but this offers new hope that Storrie will need that 'soap on a rope' after all.

 

Other than that though - it was a pretty useless article - I love how they seem to think they are best mates with David Lampitt just because he has agreed to feed them some bull**** once a month.

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I thought parachutes were over four years now?....if they've got that wrong can we take any heart from their belief that AA won't be investigating his own behaviour?

All the decent questions were ignored.

And I'd like to know how they're meeting their day to day running costs - shirt buttons?

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http://www.portsmouth.co.uk/sport/Hotheaded-Pompey-handed-FA-punishment.6686236.jp?CommentPage=2&CommentPageLength=10#comments

 

Is someone going to tell cotterill that was his transfer budget?

 

If they don't find their new billionaire soon, sc might get a nasty shock and not get the three new players he has demanded in January

 

With their grasp on figures, it's no surprise it they're in a mess. That said, I would have thought the extra finger and thumb here and there would have helped them....

 

"post 9 - Your youth set up no doubt does something right- How I do not know but it does. The only thing is it's great producing players like Walcot, Bale and now Alex Oxlade-Chamberlain but 3 players in 15 years isn't really that good. Alex Oxlade-Chamberlain has been at your club since he was 6 (11 years) over 70 other players have been let go in that time so 1 out of 70 divided to cost is not a result.

 

Keep trying though....."

 

3 players in 15 years? LMFAO. Blackstock, Best, Surman, James, Jones (arguably), McGoldrick, Lallana... Not to mention the others that went elsewhere: Williamson, Sparv, Howard...

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