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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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holepuncture

holepuncture

Posted
Posted
Talk about not being able to organise a **** up in a brewery, snippet from The Poopey press officer!!!! You couldn't make it up

 

 

The new urinals in lower south family section caused a problem for the youngsters as they were too high and these need to be

adjusted as soon as possible.

 

Funnily enough we had a problem at work in a building where the ladies toilets flooded next door, the whole lot were ripped out... less than 36 hours later all is back to normal with a full refirb of the ****ters on top... and the skates are still kicking around trying to sort out their one major project of 2011, PMSL...

 

Unpaid charities now peoples life savings at risk,the stench is so overpowering the FA and Football League really should be the subject of a Full Public enquiry,Sleezeballs the lot of them.

 

Saab are pretty much in the poop anyway, they have less than a week to save themselves from bankruptcy

 

http://www.bbc.co.uk/news/business-16074685

 

and this bit of news from Holland won't help them either...

 

http://www.bbc.co.uk/news/business-16148023

 

Well this Chinese fellow was supposed to be chucking £5m in to cover Saabs tax liabilities... but if he has caught wind of the russian mafias involvement he may have pulled out at the last minute... forcing the dutch stock exchange to suspend trading giving 'no reason' for the suspension... My suspicion is that Vlad, Muller and the lot are dumping shares as they have insider knowledge of whats going on... they managed to trash the share value by 19% before anyone in authority realised... not bad boys!

 

Although very very sad for the innocent men and women who depend on their jobs at Saab...

 

 

 

Friday will be interesting f'sure, I wonder if the pompey news will be there running a webchat... I would be interested to hear exactly what Antonov thinks he can call his defence?

 

 

such a slimeball basket case operation is pompey that they rely on characters like this... it is good that the majority of football is starting to see that pompey needs to liquidate for the good of the game...

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dubai_phil

dubai_phil

Posted
Posted

 

 

Friday will be interesting f'sure, I wonder if the pompey news will be there running a webchat... I would be interested to hear exactly what Antonov thinks he can call his defence?

 

 

such a slimeball basket case operation is pompey that they rely on characters like this... it is good that the majority of football is starting to see that pompey needs to liquidate for the good of the game...

 

Now now, less of the Vitriol.

 

After all Lampitt called CSI "The Real Deal" and he's an Integrity Guru after all

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Gingeletiss

Gingeletiss

Posted
Posted
I see Wet Spam have got a (to date) 63 page thread concerning our 'friends down the road' and their financial problems...

 

http://www.kumb.com/forum/viewtopic.php?f=2&t=119652&st=0&sk=t&sd=a&start=1220

 

...nice to read comments about letting them 'go to the wall', 'money laundering' and 'taking away their FA Cup win' amongst others.

 

Notice that they all think the CVA is being paid, they should be set right, anyone registered on there?

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saintjay77

saintjay77

Posted
Posted
Notice that they all think the CVA is being paid, they should be set right, anyone registered on there?

 

Meh I just tried to register but it won't accept my hotmail address. Can't be bothered to sign up with my work address so give up at the first hurdle. Last couple of pages are going on about poor old Pompey allot and getting a few bits of info pretty wrong. Was going to try and correct them and point them here but feel it will be like P'ing into the wind.

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rallyboy

rallyboy

Posted
Posted

....Whoops, clumsy rallyboy with his big sausage fingers pressing the wrong button - added a bit of dramatic effect though....for no reason!

And then found he had hit his three in 24 hours, hence the pointless delay...so as I was saying -

 

 

When pushed I thought this adminstrator I met today might be going to tell me that AA is highly respected, but no, far from it.

AA is as popular in the trade as he is on here, this bloke was scathing about him.

And this expert was also astonished that the court didn't put the poor club down when they had the chance - he said the inflated debt gag was the oldest in the book, doesn't know how the taxman let them get away with it.

 

So as we thought really, but now with the support of experts.

 

All quiet on the pitch, other than the News rallying the troops by shouting out the fact that the woeful Lawrence looks set for a recall at the weekend, right up there with us getting excited if Davis isn't fit.

And of course 3-4,000 of the home fans will be wondering where David James and Harry Redknapp are.

If you want to fill a ground you need a big club to come down.

 

Also I believe that the few's local paper may be running something very soon about the dodgy state of the CVA and small creditors - and how a £1M plus needs to be plucked out of the air from somewhere a bit sharpish.

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tony13579

tony13579

Posted
Posted

 

Reading that article I would get the impression PFC2010 were in admin, not CSI,

 

Waiter! Please could you serve up a 12 points deduction with a relegation side salad, and make it snappy!

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dubai_phil

dubai_phil

Posted
Posted

Guys FFS keep up. I was telling you lot about what the IP industry thought about AA the FIRST time around.

 

My favourite line was "If only IP was like football then AA could have been banned for bringing the game into disrepute YEARS ago".

 

This IS important in the tale of their demise, and their (and CSI's) current mess simply for the way he has been appointed AGAIN.

 

Dodgy Keeper doesn't cover it, he makes Bart's performance last Saturday look like Gordon Banks v Brazil his re-appointment SHOULD have sent alarm bells ringing in many investigative offices

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trousers

trousers

Posted
Posted
Guys FFS keep up. I was telling you lot about what the IP industry thought about AA the FIRST time around.

 

My favourite line was "If only IP was like football then AA could have been banned for bringing the game into disrepute YEARS ago".

 

This IS important in the tale of their demise, and their (and CSI's) current mess simply for the way he has been appointed AGAIN.

 

Dodgy Keeper doesn't cover it, he makes Bart's performance last Saturday look like Gordon Banks v Brazil his re-appointment SHOULD have sent alarm bells ringing in many investigative offices

 

But WHICH 'investigative offices'? That's the point...there doesn't seem to be anyone in authority in the slightest bit interested about alleged malpractice in this murky industry.

 

The police? Nope. The government? Nope? An independent regulator? Nope. Rosemary the telephone operator? Hmmm, could be....

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dubai_phil

dubai_phil

Posted
Posted
But WHICH 'investigative offices'? That's the point...there doesn't seem to be anyone in authority in the slightest bit interested about alleged malpractice in this murky industry.

 

The police? Nope. The government? Nope? An independent regulator? Nope. Rosemary the telephone operator? Hmmm, could be....

 

Some people who think AA is a blight on their industry? :rolleyes:

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Sevvy

Sevvy

Posted
Posted
....Whoops, clumsy rallyboy with his big sausage fingers pressing the wrong button - added a bit of dramatic effect though....for no reason!

And then found he had hit his three in 24 hours, hence the pointless delay...so as I was saying -

 

 

When pushed I thought this adminstrator I met today might be going to tell me that AA is highly respected, but no, far from it.

AA is as popular in the trade as he is on here, this bloke was scathing about him.

And this expert was also astonished that the court didn't put the poor club down when they had the chance - he said the inflated debt gag was the oldest in the book, doesn't know how the taxman let them get away with it.

 

So as we thought really, but now with the support of experts.

 

All quiet on the pitch, other than the News rallying the troops by shouting out the fact that the woeful Lawrence looks set for a recall at the weekend, right up there with us getting excited if Davis isn't fit.

And of course 3-4,000 of the home fans will be wondering where David James and Harry Redknapp are.

If you want to fill a ground you need a big club to come down.

 

Also I believe that the few's local paper may be running something very soon about the dodgy state of the CVA and small creditors - and how a £1M plus needs to be plucked out of the air from somewhere a bit sharpish.

 

Hopeflully, if they do a proper forensic investigation into pompey they can get him as well.

How long does one of these take anyway,

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JackFrost

JackFrost

Posted
Posted

If it wasn't for Norris Pompey would be hovering around the relegation zone right now. TBF he's been massive for them this season, he keeps popping up with crucial goals that keep the relegation zone at arm's length. One injury to him and they will be struggling.

 

As for AA, he's taken on the taxman and won. He sure has the world of football worked out and where football clubs stand with the law.

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trousers

trousers

Posted
Posted (edited)

 

As per that earlier article posted.....

 

 

....what is stopping AA from simply "re-structuring" the CVA, thus extending the "deadline(s)"....?

 

The club couldn’t pay off that debt AND its taxes. And some years before it became de rigueur in football league circles, Swindon were regular day-trippers to London’s High Court to face winding-up petitions from Her Majesty’s Revenue and Customs.

 

Sir Seton Wills facilitated the dismissal of HMRC’s first petition – for £600,000 in overlooked VAT – via a loan from property company St Modwen. But it was Willis who gained Andronikou’s plaudits, especially for injecting “£3m to keep the club out of trouble and £3m to keep me going”. The £900,000 was beyond even Wills, though, let alone Swindon, who defaulted on the 2006 instalment and, late that year, were negotiating furiously with Andronikou over what it euphemistically termed “restructuring” the CVA.

In previous seasons, Andronikou had allowed the club extended payment deadlines, taking what he termed a “commercial” view of the situation. Giving the club an extra month to meet its 2003 obligations, for example, he decided that: “It is in the best interests of the creditors to allow the company until August 1st to forward the money to me.”

So here was the man appointed to look after creditors’ interests telling said creditors what those interests were. He was to be even more presumptuous in 2007, declaring that he had the power to “extend and vary” the CVA deadline – suggesting it be put back a year. Or, as he modestly out it: “I have the discretion to do what I think is right for everyone. That is where it starts and ends really.”

In May he claimed: “I have information in my hands that the club are close to agreeing a deal to secure the long-term future (and) the CVA.”

 

A “fans’ consortium” backed by former Robins’ investor Bill Power had emerged the previous autumn but were still waiting to sign a “non-disclosure” agreement to allow them to even begin talks. And yet Andronikou was publicly “championing the cause” of new ‘mystery’ investor(s). Understandably, fans’ consortium members had a view on this. Consortium “leader” Mike Wilks was willing to “concede defeat” if Andronikou’s new love was the real deal, while warning: “The accounts show this club is effectively bankrupt. This mystery investor will need pretty deep pockets.”

 

So far, so reasonable. Then Wilks questioned Andronikou, claiming to be “baffled” by “why the club feels it is in such a strong position” and by “the timing of the CVA, because it states in black-and-white that the last payment is due in June. How does Mr Andronikou figure there is another year to pay it?”

 

Still so far, so reasonable. Andronikou’s response…wasn’t. “No matter what some people say, as long as I think it is in the interests of everyone to extend the deadline then I can,” he repeated, still not revealing the source of these magical powers. “It will not be long, a few weeks maybe, before this club gets some really positive news. The 20 or 30 busybodies can then find something else to do.”

 

That, as they say, tore it. Fans and creditors’, concerns were far more widespread than that. The Trust demanded an apology for the busybody slur. And chairman Paul Davis noted that “Mr Andronikou seems to be saying ‘I am the supervisor, I am God,’ (Andronikou, you suspect, would not have balked at the description) while attacking the customers of the business. It seems a bizarre way to go about things.”

 

Swindon’s Borough Council were among the creditors. And as the CVA deadline approached, they stressed that they were expecting their “substantial debt” at the agreed time. Finance committee member Nick Martin noted: “We are not looking to re-engage or review the creditors’ agreement.”

 

These storms may have become a footnote in the club’s history if the mystery new investors had delivered. But information on, and progress towards, a deal was minimal. The deadline had already passed before “dynamic” changes to the club’s board were trailed. They, and millions of anonymously-sourced pounds, would “disperse forever the dark financial clouds” hanging over the club. But it was August before any details were to emerge of “Portuguese investment company” Best Holdings.

 

Given the new circumstances, Andronikou urged creditors to “defer” CVA payments for up to another year – so much for his powers to extend and vary deadlines. But given the continuing lack of detail, Andronikou had to announce that creditors voted “strongly in favour” of calling a meeting to discuss “varying the CVA.”

 

Yet, two lines later, he claimed: “I have to decide over the next few days whether we have to hold one…because it looks as though things will be resolved next week.” His disregard for creditors’ wishes was overshadowed by news that Best Holdings signed a contract on August 14th to take full control of Swindon. Buoyed by this seeming vindication, Andronikou went back on the attack.

It seemed to matter not that he didn’t “know too much about” Best Holdings. They were “forwarding me the money, (so) a creditors’ meeting is no longer needed.” And he insisted that “It’s a complicated matter and I think everyone should just leave it,” before revealing that creditors were owed £8m rather than the £5m.

Edited by trousers
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Gruffalo

Gruffalo

Posted
Posted

As I understand it, the £16.5m is in respect of the CVA only.

 

Any secured debts (ie Gaydamak) are in addition, on top of and as well as, the CVA.. :)

 

April 2012 is the date the first scheduled payment of the CVA is due (7.5% of £16.5m = £1.24m).

 

As far as I recall, secured creditors were supposed to be reimbursed directly from parachute payments.

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Gemmel

Gemmel

Posted
Posted

Antonov could of at least mislaid the money into Pompey's bank account, he didn't even get that right.

 

CSI didn't steal any money from their banks... a director of CSI, Mr V Antanov, may have mislaid some money in one of his banks, but even that is not proven yet

 

Still cannot understand why CSI didn't pay off all of our debts with the money thay supposedly stole from their own banks

 

 

 

Guess where these quotes are from ....

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Foxstone

Foxstone

Posted
Posted
Antonov could of at least mislaid the money into Pompey's bank account, he didn't even get that right.

 

CSI didn't steal any money from their banks... a director of CSI, Mr V Antanov, may have mislaid some money in one of his banks, but even that is not proven yet

 

Still cannot understand why CSI didn't pay off all of our debts with the money thay supposedly stole from their own banks

 

 

 

Guess where these quotes are from ....

 

 

I would love them to be attributed to Storrie-Ho ! ;)

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Corporate Ho

Corporate Ho

Posted
Posted
You were paying ridiculous wages (and bonuses no doubt) on an average attendance of less than 20k. It was NEVER sustainable regardless of the TV income.

 

Can somebody tell me if TV money really was £51million a season in 2007. I can't remember but it seems a huge amount to me. (I'm not accepting Ho's word for it.)

 

Once again Ho is talking complete bollix!

 

http://news.bbc.co.uk/sport1/hi/football/europe/7903417.stm

 

 

 

So, unless they finished higher than Man Utd - not possible! - then they did not earn £51m in tv revenue!

 

Another one claims the average to be £28m per club....

 

We could of course solve all the arguments by looking at the accounts, oh, but yeah, they didn't bother to file any did they ;)

 

Thanks for that. I really don't have the time or the stamina to keep countering his trollish revisionism. You know some 'fact' is wrong but it is an old troll's trick to dress up made-up numbers as detailed statistics to baffle us lesser motals.

 

This £70 mil that ho keeps banging on about, could that figure have been fed to Conn based on fishy accounting? Storrie magicing up some figures to make it look like everything is ok? Or we're any proper accounts filed around that time to confirm there was £70 mil income that year?

 

The way ho tells it I find it really hard to understand how they lost so much when they were making more than losing. :rolleyes:

 

OK Girls. I'm going to take this very slowly so even you 'tards might be able to understand something written in basic English.

 

These aren't figures I've made up. These are figures taken from the article David Conn wrote in The Guardian abou finances in the PL which I posted a link to in my post a couple of pages back (and again before that and probably yet again befor that one). I've posted it yet, yet again here for you to look at and try and understand that these aren't numbers I've made up and Conn states in the article that they are the accounts submitted to companies house up to 31st May 2008. Got that now? I know it's not as if Conn is a professional journalist who's used to stating official statistics and reports in articles like you genius' on here but let's go with it.

http://www.guardian.co.uk/football/2009/jun/03/english-premier-league-debt

 

Accounts for the year to 31 May 2008

Turnover £70.5m (up from £40.2m the previous year, an increase of 75%)

Gate and Matchday £12m

TV and Broadcasting £51.2m

Sponsorship £4m

Retail £3.3m

Wage bill £54.7m (up from £36.9m the previous year, an increase of 48.2%)

Wages as proportion of turnover 78%

Loss before tax £17m

Debts £57.7m

Interest payable £6.6m

 

OK, go that? They're not figures I made up. They're the ones David Conn stated in his article.

 

Now, that spending may not have been sustainable long term but all the time we were getting the PL money the fact that we only had gates of 20K didn't mean that much. Clubs like Bolton, Boro, Blackburn etc had bigger grounds but had less income through gate receipts, partly because of our cup run but also because our ST prices were a lot higher. it's about the cost of the ticket, not just the numbers into the ground. So whilst that spending may not have been sustainable long term it was fine that year and the wages to turnover figure and debt level was in line with many other PL clubs. Take into account the money we pulled in from transfers of Diarra, Defoe, muntari etc and the wages to turnover ration and debt levels should have been easily managed down to sustainable levels even with replacement signings made.

 

I await the next round of yeah but no but yeah but no commnts with baited breath

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qwertySFC

qwertySFC

Posted
Posted

But Mr Lampitt disputes it is the club’s sole liability to pay small creditors in full.

 

‘We were unaware of the fact that the liquidators were sending out correspondences to creditors but we take issue to the liability for 100 per cent payment with creditors owed less than £2,500.’

 

‘They are still due to receive their full payment of their debt.

 

‘There is no time scale for full payment but the sooner the dispute is resolved over how the payments are made and who by the better for all concerned.

 

So- are they now saying anyone who is owed under £2,500 wont be getting 100% repayment now - seems like the goal posts are moving again - I wonder how many people were owed under £2,500 - mind you one players wages at £20,000 a week would have cleared 32 payments per month - still much nicer to get another guy in on 20 grand a week rather than pay your local tradespeople -

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Wes Tender

Wes Tender

Posted
Posted
I await the next round of yeah but no but yeah but no commnts with baited breath

 

It's bated breath, fyi.

 

As for your accounts, they were probably largely a work of fiction, rather like those conjured up by your bent Administrator. After all, you have had people in charge of your finances who are convicted fraudsters and you have been owned by people who don't seem to exist, or who are currently under investigation for fraud and money laundering, or who made their money in illegal arms sales, etc. So just because a journo quotes figures from your accounts, that doesn't necessarily mean that those figures are accurate. Have you never heard of "creative accounting"?

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