Saint in Paradise Posted 6 May, 2011 Posted 6 May, 2011 «Is it true that the club’s debt now makes over £100 million?» «No, it’s not true. The current owners have acquired the club after the restructuring had been performed, so if we buy it today we buy it without any debt whatsoever.» What about the money owed via the CVA ? and I thought Gaydamak was also owed money as well ? .
pedg Posted 6 May, 2011 Posted 6 May, 2011 And still it goes on - perhaps they didn't fancy Bompey after all. http://www.sports.ru/en/football/95425584.html «We’ve been conducting the negotiations for a long time. We already have the approval of the British Football League, but the commercial issues are still to be settled.» «Our business plan has been approved by the Football League..» I think I will wait for the League to confirm these. Given the rumour they had passed the FAPPT only for the League to say it was still ongoing.
angelman Posted 6 May, 2011 Posted 6 May, 2011 And Abramovich wouldn't make a profit if he sold tomorrow, unless someone paid him back the £150m that he bought the club for and the £726m (a 2010 figure!) loaned to the club. I guess you could add an extra £80m or so that they will have lost since then and for good measure why not add £50m that Torres cost. So that would be, rounding down, £1 billion. I think not!
Matthew Le God Posted 6 May, 2011 Posted 6 May, 2011 http://www.sports.ru/en/football/95425584.html The Russians seem unaware of the CVA... "if we buy it today we buy it without any debt whatsoever"
Gingeletiss Posted 7 May, 2011 Posted 7 May, 2011 http://www.sports.ru/en/football/95425584.html «Are there any examples of Russian businessmen making good business on English clubs?» «If Roman Arkadyevich would decide to sell Chelsea, his profit from this operation will be very high.» Is he 'aving a laugh, or is he plain stupid? «Do you have any estimates of the amount required to get Portsmouth back into the Premier League?» «Our business plan has been approved by the Football League. Yes, it implies the improvement of the team’s squad and the reconstruction of the stadium, which will demand certain investments, but they won’t be sky-high. Moreover, next year the Fair Play regulations will come into effect in England, prohibiting the clubs from spending more than they earn. They're ****ed, before they start then :lol:
sidthesquid Posted 7 May, 2011 Posted 7 May, 2011 When is the three amigos' court case? And, does anyone know how long it is likely to last? If I was about to by a CCC club, I'd want to wait & make sure I wasn't buying one that was about to be a League 2 club.
rallyboy Posted 7 May, 2011 Posted 7 May, 2011 they would be buying a club without any debt??.... So Chanrai is taking responsibility for the cva, arms dealer etc? - that'll be an asking price of approx £60M then - or the price of two Prem clubs. Nearly as funny as 8,000 season tickets already sold - yeah right, and new pompey player manager Ricky Lambert will be leading the team out at the Maradona Harbourdome in August. Storrie must be back in charge of the figures.
saintjay77 Posted 7 May, 2011 Posted 7 May, 2011 they would be buying a club without any debt??.... So Chanrai is taking responsibility for the cva, arms dealer etc? - that'll be an asking price of approx £60M then - or the price of two Prem clubs. Nearly as funny as 8,000 season tickets already sold - yeah right, and new pompey player manager Ricky Lambert will be leading the team out at the Maradona Harbourdome in August. Storrie must be back in charge of the figures. Proper scratch of the head moment ain't it? Everyone knows there is debt attached to the club as it stands and it's pretty obvious they need to increase their income to fund a break even figure on the current staff. Gaydamak owns some pretty important land that the club need to own if they want to do pretty much anything which is going to cost more spare change. Either complete guff is being spouted out or these russian mafia boys are being taken for a complete ride and will no doubt be preparing some concrete boots for Chainrai in the near future should he manage to off load the time bomb that is Pompey fc to the rusky's.
bridge too far Posted 7 May, 2011 Posted 7 May, 2011 This looks interesting: http://www.bbc.co.uk/news/business-13295273 "Why hasn't someone rung some very, very loud bells and put a stop to all this?" Lord Sugar asked. "What fascinates me about this football business is that a club goes bust on a Tuesday and they are still playing on a Saturday. "Football needs a dose of hard business reality. You go bust - You're gone, you're finished. And until an example of that happens, the penny is not going to drop." Lord Sugar tackles Football is on BBC Two on Sunday 8 May at 2100 BST. Or watch online via iPlayer at the above link (UK only).
Sevvy Posted 7 May, 2011 Posted 7 May, 2011 http://www.newsnow.co.uk/A/493027059?-11209 http://www.newsnow.co.uk/A/493026764?-11209 Ladies and Gentlemen, an update for you.
Dark Munster Posted 7 May, 2011 Posted 7 May, 2011 And Abramovich wouldn't make a profit if he sold tomorrow, unless someone paid him back the £150m that he bought the club for and the £726m (a 2010 figure!) loaned to the club. I guess you could add an extra £80m or so that they will have lost since then and for good measure why not add £50m that Torres cost. So that would be, rounding down, £1 billion. I think not! http://www.sports.ru/en/football/95425584.html The Russians seem unaware of the CVA... "if we buy it today we buy it without any debt whatsoever" Well, Chinny has been looking for someone to buy the club who is either (A) A big fan with money, who isn't too concerned about losing millions because of his love of the club, or (B) A complete blithering idiot. Looks like he's succeeded in finding someone under category (B), then.
Chez Posted 7 May, 2011 Posted 7 May, 2011 http://www.newsnow.co.uk/A/493027059?-11209 http://www.newsnow.co.uk/A/493026764?-11209 Ladies and Gentlemen, an update for you. so long as Tal Hiem stays that's all that matters.
Picard Posted 8 May, 2011 Posted 8 May, 2011 http://www.afcb.co.uk/page/NewsDetail/0,,10324~2354002,00.html May be Phil was right http://www.afcb.co.uk/page/NewsDetail/0,,10324~2354916,00.html Welcome to the Seward stadium!
St Jim Posted 8 May, 2011 Posted 8 May, 2011 So the end of the season has arrived, income will dry up, Ben-Haim & co will still require wages paid and the Clott will still spout the usual b*****s about how much of a great job they have done, even though with arguably one of the best starting 11's in the Champ they managed to finish closer to the relegation zone than the play-offs. Could be a fun summer - page 1,000 here we come!
JackFrost Posted 8 May, 2011 Posted 8 May, 2011 Well, Chinny has been looking for someone to buy the club who is either (A) A big fan with money, who isn't too concerned about losing millions because of his love of the club, or (B) A complete blithering idiot. Looks like he's succeeded in finding someone under category (B), then. or C someone with tens of millions to launder?
Saint Lindford Posted 8 May, 2011 Posted 8 May, 2011 Listened to Clotterill on Solent yesterday before the Skates played at S****horpe, he really is clueless and spouts complete drivel. The best little sound bite was him banging on about the magnificent support. He said "We had over 17000 for a Monday night game, Norwich sold their allocation so it just show what magnificent support this club has". PMSL, the way he emphasised the fact that it was great to get 17,000 for a Monday night game. If Norwich sold full allocation then there were only about 14,000 of the blue few there - great support my arse. We have averaged 22,000 this season in League One, yesterday we has a crowd of 32,000 and there were over 30,000 Saints fans in the ground, our away support this season has been nothing short of brilliant shown by the constant sold out full allocations. That Mr Clotterill is GREAT support, not having a pathetic 17,000 gate for your last home game of the season with only 14,000 home fans there. Next season I would imagine we will top 25,000 as an average, what will be the blue few average - 16,000 at best?
JackFrost Posted 8 May, 2011 Posted 8 May, 2011 Listened to Clotterill on Solent yesterday before the Skates played at S****horpe, he really is clueless and spouts complete drivel. The best little sound bite was him banging on about the magnificent support. He said "We had over 17000 for a Monday night game, Norwich sold their allocation so it just show what magnificent support this club has". PMSL, the way he emphasised the fact that it was great to get 17,000 for a Monday night game. If Norwich sold full allocation then there were only about 14,000 of the blue few there - great support my arse. We have averaged 22,000 this season in League One, yesterday we has a crowd of 32,000 and there were over 30,000 Saints fans in the ground, our away support this season has been nothing short of brilliant shown by the constant sold out full allocations. That Mr Clotterill is GREAT support, not having a pathetic 17,000 gate for your last home game of the season with only 14,000 home fans there. Next season I would imagine we will top 25,000 as an average, what will be the blue few average - 16,000 at best? In total there were 5,142 at the Pompey-Scunny match
jollyjohn Posted 8 May, 2011 Posted 8 May, 2011 In total there were 5,142 at the Pompey-Scunny match and 1500 of those were pompey
sidthesquid Posted 8 May, 2011 Posted 8 May, 2011 More people at SMS today for a kickabout today than for either their last game or their average attendance.
Matthew Le God Posted 8 May, 2011 Posted 8 May, 2011 More people at SMS today for a kickabout today than for either their last game or their average attendance. Not entirely fair as it didn't cost anything to go to St Mary's today. Saint's 22k average in the 3rd tier (with small numbers of away fans at St Mary's) puts their 16k (with large numbers of away fans at Fratton Park) in the 2nd tier to shame.
JackFrost Posted 8 May, 2011 Posted 8 May, 2011 Anyone watching this program at 9pm with Alan Sugar talking about debt in British football?
sidthesquid Posted 8 May, 2011 Posted 8 May, 2011 Not entirely fair as it didn't cost anything to go to St Mary's today. It was meant as a joke, really, but even so I still had to pay to travel from the dark side after yesterday as well, as I'm sure many others did, so a pretty good turn-out for a meaningless kickabout versus crap crowds all season was the point of the comment.
Delmary Posted 8 May, 2011 Posted 8 May, 2011 http://business.timesonline.co.uk/tol/business/law/article5676839.ece
Pugwash Posted 8 May, 2011 Posted 8 May, 2011 Good spot! So the FSA finds him dodgy but the FA doesn't (allegedly)?
Minsk Posted 8 May, 2011 Posted 8 May, 2011 http://business.timesonline.co.uk/tol/business/law/article5676839.ece Good grief!! Having read that I am now certain that Antonov would be the ideal next owner of the Dirty Chating Skate Barstewards!!!!
pedg Posted 8 May, 2011 Posted 8 May, 2011 Good grief!! Having read that I am now certain that Antonov would be the ideal next owner of the Dirty Chating Skate Barstewards!!!! To be completely ideal he would have to look like this:
Under Weststand Posted 8 May, 2011 Posted 8 May, 2011 http://business.timesonline.co.uk/tol/business/law/article5676839.ece Oh he sounds perfectly fit & proper for our fishy friends, the well renowned south coast money launderers. Can't see how that one slipped through the leagues rigorous FaPPT
FloridaMarlin Posted 8 May, 2011 Posted 8 May, 2011 My brother-in-law is in international banking. I was talking football to him and the subject of p****y came up. He said: "These new owners are only going to take them over to launder money through them. Most people in international finance know that English football clubs are an open opportunity to wash money because of the lax regulation on them, and the word in banking is that p****y have been used for that purpose in the past, and can be used again." He then tried to explain to me how it is done by relatively simple methods such as inflating gates, mugging up hooky recepits and accounts to pass money through any part of the club that deals in cash, such as bars, catering outlets, club shops, or ticket sales, and also through more complicated methods that involve agents, and third parties. He lost me a bit, but if you use a company that employs biscuit tin accounting as a shell, you can wash a lot of money through fairly quickly if you are well-versed in the art.
Dark Munster Posted 8 May, 2011 Posted 8 May, 2011 or C someone with tens of millions to launder? Good call: http://business.timesonline.co.uk/tol/business/law/article5676839.ece A combination of (B) and © it is, then.
tony13579 Posted 9 May, 2011 Posted 9 May, 2011 If you try launderingmoney via the small ancillary functions of Pompey you might launder a million or two. But if you launder via Image rights payments to offshore agents it's tens of millions. That avenue is closing. Land deals are lucrative too. Player sales must be lucrative. Neither the selling or buying club like to publicise the actual figure.
Channon's Sideburns Posted 9 May, 2011 Posted 9 May, 2011 The Lord Sugar programme was excellent, and Shugs didn't let the dirty cheats off the hook, especially when Scudamore tried to wriggle out of the Premier League's reluctance to let a team go to the wall. Worth a watch - http://www.bbc.co.uk/iplayer/episode/b0113f7h/Lord_Sugar_Tackles_Football/
JackFrost Posted 9 May, 2011 Posted 9 May, 2011 Good spot! So the FSA finds him dodgy but the FA doesn't (allegedly)? The FA wouldn't find Bernard Madoff dodgy. As for Pompey is there anything that will stop this all happening again? The Russians are going to launder tens of millions through the club which will end up in the wage packets of the numerous PL rejects that they will no doubt sign up. Then when the laundered money runs out, the **** will hit the fan but they'll get another creative administrator to ensure the club survives with merely a points deduction.
100%Red&White Posted 9 May, 2011 Posted 9 May, 2011 The Lord Sugar programme was excellent, and Shugs didn't let the dirty cheats off the hook, especially when Scudamore tried to wriggle out of the Premier League's reluctance to let a team go to the wall. Worth a watch - http://www.bbc.co.uk/iplayer/episode/b0113f7h/Lord_Sugar_Tackles_Football/ What a shame the caring Mr Scudamore wasn't around a few years ago when Aldershot were allowed to go to the wall. Oh, of course, they weren't part of the Premier League brand so he wouldn't have give a fu........................................
St. Neil Posted 9 May, 2011 Posted 9 May, 2011 http://www.skysports.com/story/0,19528,11688_6921049,00.html First and last paragraphs completely contradict each other.
pedg Posted 9 May, 2011 Posted 9 May, 2011 http://www.skysports.com/story/0,19528,11688_6921049,00.html First and last paragraphs completely contradict each other. Sounds like they found that russian news article posted a few days ago and have just recycled it.
JackFrost Posted 9 May, 2011 Posted 9 May, 2011 I'd be interested to know where these reports have come from that claim Pompey are approaching £100 million in debt again.
Gemmel Posted 9 May, 2011 Posted 9 May, 2011 An interesting last paragraph, cliaming the company has already been through restucturing and there is zero debt. Be prepared for some legal loophole that sees the third new company liquidated and the new, new company not liable for the CVA. Is this the finals throws of the biggest scam ever in professional sport? 130 million down to zero, with the flick of the wrist and a russian signature.
Gemmel Posted 9 May, 2011 Posted 9 May, 2011 Cotterill also announced young quartet Pete Gregory, Ellis Martin, Perry Ryan and Billy Goddard would also be released. I'm not entirely convinced clotterill has got his head around the fact he might need to play one or two youngsters
dingbattigger Posted 9 May, 2011 Posted 9 May, 2011 http://business.timesonline.co.uk/tol/business/law/article5676839.ece Has anyone at the FA seen this?
angelman Posted 9 May, 2011 Posted 9 May, 2011 Haha. You have to laugh really. If Chin had restructured the company so that there was zero debt, it would have been one of the greatest bits of business (given the limited income and huge expenses) the world has ever seen. One thing confused me from the Sugar programme last night!! Android stated in the proposed CVA that the total secured creditors stood at £22.383 million (paragraph 3.05). However he told Sugar £50m plus £10m to players. So secured creditors have almost tripled in value have they, or am I missing something? That wouldn't be Chin dipping into the pot a little bit would it?
Sevvy Posted 9 May, 2011 Posted 9 May, 2011 http://www.newsnow.co.uk/A/493258507?-11209 http://www.newsnow.co.uk/A/493251544?-11209 http://www.newsnow.co.uk/A/493241832?-11209 Ladies and Gentlemen, An update for you.
Foxstone Posted 9 May, 2011 Posted 9 May, 2011 http://www.newsnow.co.uk/A/493258507?-11209 http://www.newsnow.co.uk/A/493251544?-11209 http://www.newsnow.co.uk/A/493241832?-11209 Ladies and Gentlemen, An update for you. And some pillock on there thinks they can get Lee Clark to manage them ....
rallyboy Posted 9 May, 2011 Posted 9 May, 2011 He's vowed to clear the debt by ignoring it, so just a continuation of all previous owner's business plans! I'm not sure we've had official notice that this guy has passed a FaPPT other than from him, but if he does despite failing miserably to satisfy the financial world, it will be ridiculous. Though when the football authorities can allow QPR to drive a bus through their regulations, nothing surprises me. On the back of that I see little hope of justice being properly served for the financial shenanigans down the road but what I would say is the fans need to be vocal NOW on the prospect of a potential takeover by a man who was too dodgy for Bournemouth, couldn't provide funds for Rangers, and is considered by the UK financial system to be connected to organised crime and money laundering. If a fanbase cares about the state of their club, now is the time for the few to make a noise. But if a dodgy Russian takeover is welcomed we will see once again that the whole club is morally bankupt. As well as being properly bankrupt. Do the fans want to save their club, or do they still just want results at any cost? Sorry, stupid question. Meanwhile the local businesses that were given personal guarantees by the club owner last year over £2,500 debts still wait by the letterbox. How much longer can this criminal farce go on? In the close season can we help them with a simple hearing to see why things haven't improved? Chanrai - why make hollow promises to pay? Lampitt - how can you allow this to continue? And how do you intend to negotiate new sensible contracts after offering huge ones this season? Cotterill - no questions, cleared of all charges - please stay, we think you're doing a great job - get rid of more youngsters, pay more for loanees, and try that quality over quantity again, it just needs fine tuning! Storrie - no questions, please come back to get the finances 'sorted'.
pedg Posted 9 May, 2011 Posted 9 May, 2011 I am sure once the Russians take over everyone will be paid what they are due.... as soon as the spin cycle finishes....
Saint Lindford Posted 9 May, 2011 Posted 9 May, 2011 Good for a laugh. http://shop.ebay.co.uk/psef2009/m.html?_trksid=p4340.l2562 Spot the gaps....................... hahaha
Crab Lungs Posted 9 May, 2011 Posted 9 May, 2011 The Lord Sugar programme was excellent, and Shugs didn't let the dirty cheats off the hook, especially when Scudamore tried to wriggle out of the Premier League's reluctance to let a team go to the wall. Worth a watch - http://www.bbc.co.uk/iplayer/episode/b0113f7h/Lord_Sugar_Tackles_Football/ Absolutely brilliant programme, more than hinted that Pompey should have gone bust, too...
eurosaint Posted 9 May, 2011 Posted 9 May, 2011 Haha. You have to laugh really. If Chin had restructured the company so that there was zero debt, it would have been one of the greatest bits of business (given the limited income and huge expenses) the world has ever seen. One thing confused me from the Sugar programme last night!! Android stated in the proposed CVA that the total secured creditors stood at £22.383 million (paragraph 3.05). However he told Sugar £50m plus £10m to players. So secured creditors have almost tripled in value have they, or am I missing something? That wouldn't be Chin dipping into the pot a little bit would it? I thought he said £15mil not £50 mil !! That would add to £25mil which in round figures would make sense ! Might be wrong but that's what I thought I'd heard !
eurosaint Posted 9 May, 2011 Posted 9 May, 2011 The Lord Sugar programme was excellent, and Shugs didn't let the dirty cheats off the hook, especially when Scudamore tried to wriggle out of the Premier League's reluctance to let a team go to the wall. Worth a watch - http://www.bbc.co.uk/iplayer/episode/b0113f7h/Lord_Sugar_Tackles_Football/ The great lord made a couple of serious contradictions himself though : He said that 'nobody can make money from football' but at the same time admitted that he bought Spurs for 8mil and sold them for 50mil ! He also mocked the other premier league chairmen for claiming he had a 'conflict of interest' over the Sky deal, as he supplied the satellite dishes ! He then proceeded to run to their negotiator (Sam Chisolm) to warn him that ITV had stepped in so he should immediately top their offer, which they did ! Personally I think that he sounded just about as crooked as the players, managers and agents he was so scornful about !
Pedro Posted 9 May, 2011 Posted 9 May, 2011 Did I hear right on last night's programme that the joinery company owed £50k has now gone into administration. Like Sugar said, they should have been treated the same as any other business and be closed down.
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