Pompey Takeover Saga

[Gingeletiss]

so they haven't actually been paying the full wagebill this year???

Whoops, that's a little gem!

 

 

Ben Haim will get his wages from the next parachute money as long as the football creditor rule doesn't get overthrown before he gets paid, so he couldn't give a sh=t.

 

All they've done by not paying him is helped themselves to a short term loan from advanced Prem money, presumably to cope with horrific cashflow, and publically pretended to break even....ish!

 

They could set a new record for squandering £48M and having nowt to show for it* - I can't see much parachute money making it as far as Chanrai let alone a new owner.

 

Ben Haim has done sterling work, if he does play in August, (presuming West Ham paid him for the first half of the season) he will still have taken £2M off pompey since the last game he started for them, and if they ever pay NI and tax it will have cost them even more.

£2M? - a third of their annual target for 25 players - and he earned that between games!!

Think about that....it would be like us still having Rasiak on the books.

And if he stays on that money they will have three players costing a total of £4M a year - don't know if I've mentioned it at all in 784 pages but the figures don't stack up!

Stand up Sir Ben, go join Storrie in the statue-measuring area.

 

 

*No big deal, they would only be breaking their own record.

 

This post, should be sent to the FL, with a request that they offer a public explanation regarding their 'business plan',to which they agreed to!

[angelman]

I think Ben Haim has to play to get in the shop window otherwise once his contract runs out, no one is going to buy him. Maybe he has decided that £36k a week for another 2 years isn't as much as he could earn with the remaining 5 years or so of his playing career.

[Golactico]

There is an article on the Pompey Official Website by bankrupt ex goalie Alan Knight, detailing his life's downward spiral since retiring from the game. In it, he offers the following advice:

 

“People should avoid getting dodgy loans from sharks and money lenders"

[aintforever]

Ben Haim will get his wages from the next parachute money as long as the football creditor rule doesn't get overthrown

 

Probably just the tip of the iceberg with regards to future income already spent.

 

Also I doubt the Premier League will advance cash out of goodwill, it will come at a cost.

[Chin Strain]

There is an article on the Pompey Official Website by bankrupt ex goalie Alan Knight, detailing his life's downward spiral since retiring from the game. In it, he offers the following advice:

 

“People should avoid getting dodgy loans from sharks and money lenders"

 

Feck me, and they say footballers are thick. No sh1t sherlock.

[pedg]

There is an article on the Pompey Official Website by bankrupt ex goalie Alan Knight, detailing his life's downward spiral since retiring from the game. In it, he offers the following advice:

 

“People should avoid getting dodgy loans from sharks and money lenders"

 

So what other sort of loans do sharks provide..?

 

Have this image of someone with a clip board asking questions..

 

So is this a dodgy loan...?

 

Do you consider yourself as a loan shark....?

[Doctoroncall]

Nothing about not paying their dues as far as I can see:

 

At the end of the nine month period the original legal entity, which traded

as the Club, will be placed into Liquidation to enable the duly appointed

Liquidators to begin their investigation into the affairs of the Club.

 

Newco will continue to trade as the football club in the Championship and

will be obliged to pay a contribution to enable a minimum dividend of

20 pence in the pound before costs and expenses to all unsecured creditors

in full and final settlement of their debt. This obligation will be formalised

by way of a binding sales and purchase agreement in consideration of the

transfer of the business and assets to the Newco.

 

Newco will be allowed a further period of 4 years and 3 months to pay the

outstanding consideration into the Liquidation.

 

 

Bit about salaries from a previous version (taken out of updated document):

 

The Administrators have reviewed every cost centre of the Club in an effort to

reduce expenditure, where possible. The biggest challenge was the salaries of

the playing squad. Fortunately, nine contracts of the senior squad are due to

expire at the end of June 2010, and a further six senior players are under loan

agreements which are also due to expire. This will provide the Administrators

the opportunity to reduce the Club’s current annual player salary

commitment, of approximately £42 million, to a budgeted level of

approximately £13.6 million by next season. This will be further reduced to

between £8 and £10 million in the event that the Club remains in the

Championship for the following season.

[dubai_phil]

............................

 

The Administrators have reviewed every cost centre of the Club in an effort to

reduce expenditure, where possible. The biggest challenge was the salaries of

the playing squad. Fortunately, nine contracts of the senior squad are due to

expire at the end of June 2010, and a further six senior players are under loan

agreements which are also due to expire. This will provide the Administrators

the opportunity to reduce the Club’s current annual player salary

commitment, of approximately £42 million, to a budgeted level of

approximately £13.6 million by next season. This will be further reduced to

between £8 and £10 million in the event that the Club remains in the

Championship for the following season.

 

Just to put that into context

 

http://www.telegraph.co.uk/sport/football/teams/manchester-united/8533559/Manchester-United-top-60-million-in-Premier-League-earnings.html

 

Manchester United have become the first club to top the £60million mark in earnings from Premier League prize money and TV cash.

 

 

So Manure have ONLY THIS SEASON become the first club to earn 60 mil and yet the few with HOW MANY seats were spending 42mil in wages on PLAYERS!

 

Add old Storrie teller on his wadge, The Management, The coaches....

 

Incompetence really does not come into it

 

Oh and their salary next season is going to be between 8 & 10

 

Finally that makes some sense.

 

Our wages in the year we went bust were forecast to hit 9.4mil

 

Now. Hold on.....

 

Saints wages in our year we went bust were 9.4mil. AND WE WERE PLAYING THE KIDS!

 

Dear Poopey fans. Have we got news for you. Hope you ain't bought your season tickets yet

 

Oh oops - just remembered

 

They ain't got any kids LEFT!

 

:lol:

[Dark Munster]

 

Oh and their salary next season is going to be between 8 & 10

 

Finally that makes some sense.

 

Our wages in the year we went bust were forecast to hit 9.4mil

 

Now. Hold on.....

 

Saints wages in our year we went bust were 9.4mil. AND WE WERE PLAYING THE KIDS!

 

Dear Poopey fans. Have we got news for you. Hope you ain't bought your season tickets yet

 

Oh oops - just remembered

 

They ain't got any kids LEFT!

 

:lol:

 

But they do have Tal Ben-Haim.

[Dark Munster]

I don't think they have any intention of servicing the CVA full stop.

 

I believe Clapham Saint noticed a couple of lines in the small print that said something along the lines of "if there isn't enough money to service it you will be getting nothing". And as most of the creditors weren't wise enough to this and voted for the CVA I bet that Pompey will escape any punishment from not adhering to the CVA on this technicality.

 

If they don't get bought out in the summer they'll be in trouble and if they do get bought out by the Russians no doubt further tens if not hundreds of millions of laundered money will be pumped through the club and the whole process will start again. As ESB pointed out no doubt they'll play the same sob story when the time comes saying they haven't got enough players for a squad and then they'll go and sign a load of PL rejects on £20k+ a week.

 

As we found out, the FL can make up rules at any time to suit their purposes. So a massive points deduction is possible if the Cheats weasel their way out of servicing the CVA, despite any fine print in it.

 

But then again, they do have a track record of getting away with murder.

 

Cheating, lying bastards.

[Dark Munster]

However, it is understood Pompey are not paying the ex-Bolton and Manchester City man as the impasse continues.

Sorry, what??

 

Business as usual for the Cheats.

[suewhistle]

Of course if pompey do go to the wall there will be no need to pay wages from the para payments (to guarantee the golden share) so no need to pay Ben H. Now that would also be funny!

[BigShadow]

Nothing about not paying their dues as far as I can see:

 

Newco will continue to trade as the football club in the Championship and

will be obliged to pay a contribution to enable a minimum dividend of

20 pence in the pound before costs and expenses to all unsecured creditors

in full and final settlement of their debt. This obligation will be formalised

by way of a binding sales and purchase agreement in consideration of the

transfer of the business and assets to the Newco.

 

Newco will be allowed a further period of 4 years and 3 months to pay the

outstanding consideration into the Liquidation.

 

 

Unless anyone has seen the sale and purchase agreement I guess we will have no idea what the final version said - and what, if any, ability they have to wriggle out of the payments. However, it was to be a condition of the sale that Newco are OBLIGATED to pay the CVA by 2015. As per the last publicly available timetable - the first payment will be due in April 2012.

 

In the very simplest of terms - to fund the CVA they need to run at about £5m PROFIT each year for the next four years. Odds on that happening??

[Minsk]

Ben Haim + Lawrence + Kitson = 4m

 

I'm guessing that as Norris turned down an offer from Ipswich, and other interested clubs, to agree a deal with the Skates he will be on around the same as the latter two - so add another mil. That's HALF the UPPER END of that estimated wage bill on just 5 players!

 

As has been said many times, by many people, the sums just don't add up...........

[MorningtonCrescent]

Unless anyone has seen the sale and purchase agreement I guess we will have no idea what the final version said - and what, if any, ability they have to wriggle out of the payments. However, it was to be a condition of the sale that Newco are OBLIGATED to pay the CVA by 2015. As per the last publicly available timetable - the first payment will be due in April 2012.

 

In the very simplest of terms - to fund the CVA they need to run at about £5m PROFIT each year for the next four years. Odds on that happening??

 

 

This is the latest document - apologies if it's been discussed earlier in this marathon thread (I don't think it has..)

 

Some interesting things in there - including the fact that the meetings held to "agree" the transfer from Admin to "Newco" (PFC10) were advertised in the "London Gazette" ?! and that the CVA has now been CLOSED on the transfer of ownership and that PFC10 are now obligated to fulfil the payments that fell due under theCVA arrangement.

 

Also, the liquidators appointed were chosen by HMRC against the wishes of Hacker-Young and Mr Android.

 

http://www.uhy-uk.com/media/download/portsmouth%20reports/Final%20progress%20report.pdf

[K,Billy's supersound]

good old storrie making over 100k being hired as a 'consultant' lol

[angelman]

http://www.uhy-uk.com/media/download/portsmouth%20reports/Final%20progress%20report.pdf

 

From Appendix 1.

 

Wages and salaries 9,866,675

PAYE & NI 8,890,182

 

for the 8 months Feb10 - Oct10, so that's £18.757m. I suspect looking at those figures that the wages that the players earn are all nett of tax (and extrapolating for a 12 month period this is over £28m although I realise that some expensive players are off the books). nice also to see that the club picks up player fines!

 

But what I don't understand, and I am sure some accountant can put me right on this, is that they include player sales and those out on loans in the football income, but don't mention player purchases or cost of loans brought in on the overheads. Loans might be included in wages, but I doubt it. Also there would be some agents' fees to pay, and they don't feature in the books.

 

As I say, I am no accountant, but if you are going to include player sales and loans on one side of the balance sheet, surely they should also be included on the other side.

[Saint in Paradise]

Don't Pimpey claim that Genoa still owe them money ?

 

AC Milan on Tuesday completed the full signing of Ghana midfielder Kevin-Prince Boateng from Genoa.

 

The 24-year-old spent the last season with Milan but was part owned by Genoa, who bought him from Portsmouth a year ago.

 

The two Italian clubs then entered a part-ownership agreement and following three hours of talks on Tuesday, Genoa president

Enrico Preziosi announced that a deal had been struck for Milan to buy out the second half of Boateng's contract.

 

 

http://nz.sports.yahoo.com/football/news/article/-/9511706/milan-complete-full-signing-of-boateng/

 

 

.

[OldNick]

Nothing about not paying their dues as far as I can see:

 

At the end of the nine month period the original legal entity, which traded

as the Club, will be placed into Liquidation to enable the duly appointed

Liquidators to begin their investigation into the affairs of the Club.

 

Newco will continue to trade as the football club in the Championship and

will be obliged to pay a contribution to enable a minimum dividend of

20 pence in the pound before costs and expenses to all unsecured creditors

in full and final settlement of their debt. This obligation will be formalised

by way of a binding sales and purchase agreement in consideration of the

transfer of the business and assets to the Newco.

 

Newco will be allowed a further period of 4 years and 3 months to pay the

outstanding consideration into the Liquidation.

 

 

Bit about salaries from a previous version (taken out of updated document):

 

The Administrators have reviewed every cost centre of the Club in an effort to

reduce expenditure, where possible. The biggest challenge was the salaries of

the playing squad. Fortunately, nine contracts of the senior squad are due to

expire at the end of June 2010, and a further six senior players are under loan

agreements which are also due to expire. This will provide the Administrators

the opportunity to reduce the Club’s current annual player salary

commitment, of approximately £42 million, to a budgeted level of

approximately £13.6 million by next season. This will be further reduced to

between £8 and £10 million in the event that the Club remains in the

Championship for the following season.

 

before costs and expenses, so what costs and expenses can be deducted from the 20in the £ ?

[Gemmel]

I won't bore you with the latest story from the news - There really is nothing in it, with the exception of a little nuggett at the end from CEO lumpitt talking about running the club - Is he taking the pish;

 

‘Sometimes doing things in the right way, the hard way, can be difficult but it can be worth more in the end.

[dubai_phil]

Lol so they STILL managed to make a loss even while in admin, and not including the 1mil plus that AA earned in fees.

[farawaysaint]

From Appendix 1.

 

Wages and salaries 9,866,675

PAYE & NI 8,890,182

 

for the 8 months Feb10 - Oct10, so that's £18.757m. I suspect looking at those figures that the wages that the players earn are all nett of tax (and extrapolating for a 12 month period this is over £28m although I realise that some expensive players are off the books). nice also to see that the club picks up player fines!

 

But what I don't understand, and I am sure some accountant can put me right on this, is that they include player sales and those out on loans in the football income, but don't mention player purchases or cost of loans brought in on the overheads. Loans might be included in wages, but I doubt it. Also there would be some agents' fees to pay, and they don't feature in the books.

 

As I say, I am no accountant, but if you are going to include player sales and loans on one side of the balance sheet, surely they should also be included on the other side.

 

I'm only a trainee accountant but I hope I can shed some light. This isn't a balance sheet it is a trade ledger and as such shows trade income and expenses for the period. Player purchases would not be included as they are solely an asset and liability transaction and there is no corresponding expense. Agents fees are included as a line item at 180000 pounds. Player loans are in essence an operating lease for football clubs and as such loan fees would be included in wages as an expense, salaries and wages are indeed net of tax as are all items in the statement. A more telling accountant would be a full income statement as well as a statement of cash flows. Player sales are an income transaction however and will be represented, if they sold any player for a loss on his book value then it is very possibly just netted off against player sales income.

[gaz]

Lol so they STILL managed to make a loss even while in admin, and not including the 1mil plus that AA earned in fees.

 

I have no idea how they could be seen as anything other than totally insolvent.

[stevegrant]

As I say, I am no accountant, but if you are going to include player sales and loans on one side of the balance sheet, surely they should also be included on the other side.

The way transfers are accounted for can be somewhat confusing, as sales are recorded directly (i.e. you now have cash in the bank and/or guaranteed future payments), whereas purchases are amortised/depreciated over the duration of the player's contract.

 

Taking a fairly straightforward example, Chelsea signed Torres for £50m on a five and a half year contract. Rather than take £50m directly out of the profit and loss account, his value is depreciated over the duration of that contract, roughly £9m a year. That £9m is documented on the profit and loss account as "amortisation of player contracts". It gets a bit more complex when that contract is renegotiated or extended at some point. If, after two and a half years, his contract is extended to another 5-year contract, at that stage his value on the balance sheet will be £23.5m (2.5 x £9m), so that amount will then be amortised over the duration of the new contract, meaning the annual write-off is reduced to just £4.7m a year.

 

On a slight tangent, that's how Chelsea are likely to pass UEFA's new Financial Fair Play criteria, because in comparison to 3 or 4 years ago, they've not been spending an absolute fortune on transfer fees. Man City will struggle at the current rate (although selling Tevez will probably help significantly).

[Doctoroncall]

before costs and expenses, so what costs and expenses can be deducted from the 20in the £ ?

 

Administration charges beyond what has been specified and the investigation in to the old company.

[Sevvy]

Plus they still owe money to a few groups involved in the admin of Pompey

[OldNick]

Administration charges beyond what has been specified and the investigation in to the old company.

Thanks, the costs investigating the old company could be pretty high Edited 25 May, 2011 by OldNick

[sidthesquid]

It's like a bullsh1t volcano down the road, spouting cr@p into the atmosphere on a daily basis. Never a day goes by without some more inane ramblings to keep the simple fish-molesting folk happy. Pointless reports appear all the time - it does always sound a bit like whistling in the dark to me - but compared to our club it is a soap-opera down there.

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/it_s_not_always_plain_sailing_but_duo_are_united_by_common_goal_1_2709561

[Channon's Sideburns]

Meanwhile, filed under 'You could not make it up' category, this just arrived in my inbox.......

 

----

 

Portsmouth Football Club has stepped in to sponsor the 'Next Steps' event allowing us to halve the price of tickets to £7 per delegate!

 

Tuesday 7th June, 9am-12:30pm, at Portsmouth Football Club

 

A growing number of business and public sector leaders have been working on a joined up and focused approach to shaping the future of our city. Join us to tackle the burning issues raised by the wider business community.

The discussions on the 7th June will include:

- Portsmouth’s future development plans and how these can be funded

- the Passion for Portsmouth survey

- the new Solent Local Enterprise Partnership

- improving links between business and the city’s schools to raise achievement

- ideas for the development of the Hard and Naval Base

 

 

-------

 

ERRR???? HANG ON...YOU CAN'T PAY A CONTRACTED MEMBER OF STAFF IN EXCESS OF 700K WAGES, BUT YOU'RE SPONSORING EVENTS TO GIVE THE IMPRESSION YOU'RE LOADED?

[farawaysaint]

The way transfers are accounted for can be somewhat confusing, as sales are recorded directly (i.e. you now have cash in the bank and/or guaranteed future payments), whereas purchases are amortised/depreciated over the duration of the player's contract.

 

Taking a fairly straightforward example, Chelsea signed Torres for £50m on a five and a half year contract. Rather than take £50m directly out of the profit and loss account, his value is depreciated over the duration of that contract, roughly £9m a year. That £9m is documented on the profit and loss account as "amortisation of player contracts". It gets a bit more complex when that contract is renegotiated or extended at some point. If, after two and a half years, his contract is extended to another 5-year contract, at that stage his value on the balance sheet will be £23.5m (2.5 x £9m), so that amount will then be amortised over the duration of the new contract, meaning the annual write-off is reduced to just £4.7m a year.

 

On a slight tangent, that's how Chelsea are likely to pass UEFA's new Financial Fair Play criteria, because in comparison to 3 or 4 years ago, they've not been spending an absolute fortune on transfer fees. Man City will struggle at the current rate (although selling Tevez will probably help significantly).

 

It gets even more complex because players signed from the academy don't have a value due to the fact their contracts are internally generated intangibles and hence cannot be amortised as they have no readily determinable value. Thank you IFRS for making life unbelievably complex for everyone I don't see why Man City would have problems? The last set of financials I can find shows that with the projected prize money and television market pool of the champions league next season along with the allowed owner equity contributions with a little bit of tweaking they should manage it. Of course, I haven't seen last year's financials, and to be honest haven't been following the club so if their costs have gone up significantly they could be screwed.

[CB Saint]

Faraway - skate boarder champion

 

How many skates do you have to give a home to to win this???

[farawaysaint]

Faraway - skate boarder champion

 

How many skates do you have to give a home to to win this???

 

I let the first team play a 5-a side in my back yard. It was apparently the best quality pitch they've played in for years and there's talk of building a new 100 million pound stadium around my house as soon as the new takeover goes through.

[rallyboy]

they don't have enough players for 5-a side.

 

 

 

Bearing in mind the loss of income from dropping out of the Prem tends to halve a club's income overnight, for any club in the championship to consider matching wages from a Prem club is ridiculous, even QPR didn't do that and they are worth billions.

 

Blackpool's wagebill - £13M, Birmingham £38M, Wolves £30M - and they were outbid by pompey for at least one player, as were QPR.

 

The interesting bit -

Accountants reckon Birmingham's big problem is four players who were offered deals just over £1M when the club was generating massive Sky money - experts consider these to be unsustainable wages.

But that's the same as the deals Cotterill and Lampitt agreed with two players while pompey were in the division below, ignoring massive debt and while trading insolvently.

 

pompey went on to pay loan players up to £800K a year, more than Blackpool could justify despite having £40M more coming in.

So the going rate for a player such as Nugent or Ben Haim is in reality about £12K-£15K - not £36K.

 

If they agree terms with Norris at about £20K they will once again be paying bigger money than all but about ten of the 92 clubs.

They are the Man City of the championship.

Sort of.

 

 

I don't see West Ham or Birmingham mounting a serious challenge this season unless they follow the pompey suicidal business plan.

 

 

 

And on a point of grammar, pompey doesn't qualify for a capital P.

[stevegrant]

pompey went on to pay loan players up to £800K a year, more than Blackpool could justify despite having £40M more coming in.

To be fair, Blackpool could justify it, they just chose not to.

[Crab Lungs]

It's like a bullsh1t volcano down the road, spouting cr@p into the atmosphere on a daily basis. Never a day goes by without some more inane ramblings to keep the simple fish-molesting folk happy. Pointless reports appear all the time - it does always sound a bit like whistling in the dark to me - but compared to our club it is a soap-opera down there.

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/it_s_not_always_plain_sailing_but_duo_are_united_by_common_goal_1_2709561

 

The mind boggles as to how they can write such crap.

 

Yet more "woe is me but haven't we coped magnificently well" rubbish from their local rag. Like you mentioned, it can only be to create some sort of siege mentality among the braindead.

 

Seriously, what a load of rubbish.

[anothersaintinsouthsea]

The reporting from the News is always very pro-Pompey. It seems their stance is to be the club's chief cheer leader no matter what - bit of contrast to the Echo and Saints.

 

All this talk of Norris - am I missing something here? Is Norris supposed to be one of the best players in the Championship - why do they want to give him so much money?

[Sour Mash]

Five years or more of blatant fraud and two fingers to the authorities, FA, prem, FL and the taxpayer.

 

It's really not about to change is it.

 

Playing them and beating them really isn't enough. That's merely the local rivalry. As a football fan, and as a taxpayer, I want them gone.

 

This. I admire the continued optimism and enthusiasm of some on this thread, but they've been getting away with it for far too long for me to be able to derive any enjoyment out of this saga at all.

[Doctoroncall]

Thanks, the costs investigating the old company could be pretty high

 

They would have been astronomical if AA was going to do it but fortunately someone saw through that ruse.

[Stu Man Do]

The reporting from the News is always very pro-Pompey. It seems their stance is to be the club's chief cheer leader no matter what - bit of contrast to the Echo and Saints.

 

All this talk of Norris - am I missing something here? Is Norris supposed to be one of the best players in the Championship - why do they want to give him so much money?

 

Same as I was thinking! If they pay Norris anywhere near 20k a week they are full on mentals. I would reckon he'd be on closer to 10k than 20 but what do I know I didnt go to the Pompey school of economics!

[Weston Super Saint]

before costs and expenses, so what costs and expenses can be deducted from the 20in the £ ?

 

They'll probably wangle all of Ben Haim's wages in there, plus story teller's couple of million.

 

I reckon they'll be down to 2p in the pound by the time they've finished!

 

Still, the creditors - well some of them! - voted for it, so they only have themselves to blame.

[Clapham Saint]

I don't think they have any intention of servicing the CVA full stop.

 

I believe Clapham Saint noticed a couple of lines in the small print that said something along the lines of "if there isn't enough money to service it you will be getting nothing". And as most of the creditors weren't wise enough to this and voted for the CVA I bet that Pompey will escape any punishment from not adhering to the CVA on this technicality.

 

If they don't get bought out in the summer they'll be in trouble and if they do get bought out by the Russians no doubt further tens if not hundreds of millions of laundered money will be pumped through the club and the whole process will start again. As ESB pointed out no doubt they'll play the same sob story when the time comes saying they haven't got enough players for a squad and then they'll go and sign a load of PL rejects on £20k+ a week.

 

I don't think I said that... To be honest I haven't had the will to read the who CVA agreement.

 

However I did say that, I don't think that Chinny has paid a singe penny to buy the club this time around.

 

From what I have seen it appears to me:

 

The current company (new co) purchased the club from the old company (old co) which had gone into administration and was subject to the CVA.

 

The purchase price is equivalent to the payments required to service the CVA.

 

The CVA payments have been postponed and as such b*gger all has been paid by the new co for the club.

[Clapham Saint]

I'm only a trainee accountant but I hope I can shed some light.

 

Nothing wrong with that!

 

Although it seems a long way off when you're sat in doors studying it'll be worth it in the end.

[dubai_phil]

The CVA payments have been postponed and as such b*gger all has been paid by the new co for the club.

 

But of course the Parachute payments will continue to go towards the "secured loans" that Chinny made to the Old Co.

 

So the Newco only exists to repay Chinny unless he finds some mugs.

 

Pretty much what we expected.

 

Welcome back BTW we missed you of late :-)

[tony13579]

The alleged debt to Ben Haim is preprraton for the next administration!

 

How else are theyto get another CVA passed?

[1976_Child]

Pompey are sh!te.

 

..... my monthly contribution to this record-setting thread.

[rallyboy]

that's got to delay the takeover....

 

Bosnian war crimes suspect Ratko Mladic is undergoing identity tests after being arrested in Serbia.

 

 

I guess it's back to Libya now to see if they can raise the money to mount a promotion push.

[JackFrost]

that's got to delay the takeover....

 

Bosnian war crimes suspect Ratko Mladic is undergoing identity tests after being arrested in Serbia.

 

 

I guess it's back to Libya now to see if they can raise the money to mount a promotion push.

 

Nah China would be my bet.

 

Why do you think Kim-Jong-Il went there so suddenly?

[pedg]

Looks like the bestiest fans are going to have to shell out for a new wardrobe next season:

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/lampitt_dedicates_chelsea_visit_to_fans_1_2713162

 

Pompey will use the occasion to unveil their new away kit for next season – one of three new strips they are introducing.

[OldNick]

Looks like the bestiest fans are going to have to shell out for a new wardrobe next season:

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/lampitt_dedicates_chelsea_visit_to_fans_1_2713162

now I would expect that to cost them a lot of dosh. These teams don't visit for nothing. The Russian tie up may well be evident here.

[Gemmel]

now I would expect that to cost them a lot of dosh. These teams don't visit for nothing. The Russian tie up may well be evident here.

 

Wouldn't have cost them a penny. This is a perfect freindly for Chelsea. There might be a russian connection, but last week, it was all systems go to be done and dusted this week..... 36 hours to go