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Pompey Takeover Saga


Fitzhugh Fella

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I'm not sure how important this is but when it was announced that Baker Tilly were going to be the liquidators of "oldco", their own web site said that 2 liquidators would be David Hudson + Geoff Carton-Kelly.

 

http://www.bakertilly.co.uk/media/news/Pages/Baker-Tilly-appointed-liquidators-to-Portsmouth-City-FC.aspx

 

A few days ago (19 Dec) it was announced that David Hudson was leaving Baker Tilly

http://www.accountancyage.com/aa/news/2133647/david-hudson-leaves-baker-tilly

 

IMO This seems a strange change of career path while he is still working on a high profile case ?

 

Interesting (perhaps?) that it says Hudson also worked on the Southampton Leisure Holdings administration for Begbies Traynor. Small world....

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15, any advance on 15, going for 15....

 

20! - gone to the man in the back with the red and white shirt on...

 

If they get a deduction it will probably be -14. -10 for being in admin and -2 for each other times they have previously been in admin.

 

I think Bournemouth got -15 for exiting without a CVA plus a further -2 because they had been in receivership once before.

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If they get a deduction it will probably be -14. -10 for being in admin and -2 for each other times they have previously been in admin.

 

I think Bournemouth got -15 for exiting without a CVA plus a further -2 because they had been in receivership once before.

 

IF.... However IF the FL act there will be a huge list... Failing to submit an accurate business plan.. Failing to pay wages/tax on time etc,.etc... The FL don't seam to do preventative punishments, just act once the horse has bolted, left the country and got on a space flight to mars.

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Let's not count the chickens yet guys, there've been in a similar situation before!

 

I personally think no points will be given now but if they don't find some money in the next month or so they will be in a position where it will be very difficult to avoid. If the money runs out they will have to go into admin themselves and therefore take the hit for points. And as others have said, it should be -10 + others due to previous admin.

 

Let's see what AA can drum up for them in the short term though as he has history of getting them out of the crap.

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Appleton bemoans that they were deprived of a point against Millwall, because N'Guessan pushed Mullins before scoring the only goal of the match.

 

http://www.newsnow.co.uk/h/Sport/Football/Championship/Portsmouth

 

Don't I recall that some Skate defender was guilty of a blatant push on Lambert in their box, where we had a decent shout for a penalty? You're right, Appleton, these things appear to even themselves out over a season, but you've already had your bit of good fortune against us and considering that it was the local derby, consider yourself lucky and stop bleating. Otherwise you'll look like a hypocrite, complaining about the Millwall defence doing something that your defence did the week previously.

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http://soccernet.espn.go.com/stats/attendance/_/league/eng.2/english-league-championship?cc=5739

 

Our average: 25,744.

Theirs: 14,188.

Difference of 11,556.

 

This can't be right, as they have the bestest fans in the world. I'm confused.

 

So if this figure is extrapolated over 23 games at, say, a net of VAT, average figure of £18 the difference in revenue through the gate at SMS v the Fratton Arena is a tad under £5million per season

Add in additional Executive Club and Box revenue at a conservative £500k then it highlights the revenue earning capacity of a successful versus a moribund football club

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So they wanted to take the 80k a week Wayne Bridge on loan eh?

http://www1.skysports.com/football/news/11095/7394037/?

 

well done Wayne for mugging them off... but shirley if you wanted to make your daddy proud you couldve signed only to fall over on arrival and hurt ones back? Then proceed to chill out for a few months and bleed the carcass dry - in the mould of Saints hero Anti Niemi, who did them for around half a mill IIRC!

 

Another massive travelling support from The Bestest Fans in the World™ on Boxing Day. Only 600 bothered to make the short trip to Millwall.. LOL. Wonder how many taxis they will need for Leicester on Saturday?

 

Come on your being unfair, it was 640 odd... every little helps 'n all!

 

So why was it such a struggle for the bestestests, the mighty fratton army to make it to Millwall? Those missing thousands must have good reason and we must sympathise with them - so unlucky is the plucky lot!

 

It must have been really unlucky, as Millwall went to pompey last season on Boxing day, with no trains or tubes and they managed to take 1200 of their lot... so what happened to the bestest?

 

Palace is only down the road from Millwall and they brought an impressive 2-2.5k down to St.Marys with no trains or tubes... so what on earth is going on that the greated fans in the landz™ couldnt make it?.. probably that blasted football league FAPP out to get them again...

 

Pathetic support... reports they were giving it the shalalala again... looking forward to giving them our version if they can make it to April.

 

So if this figure is extrapolated over 23 games at, say, a net of VAT, average figure of £18 the difference in revenue through the gate at SMS v the Fratton Arena is a tad under £5million per season

Add in additional Executive Club and Box revenue at a conservative £500k then it highlights the revenue earning capacity of a successful versus a moribund football club

 

Those are very conservative estimates, but it clearly demonstrates what a shocking path the skates allowed milan/storrie/arry/sasha/fahim/mirage/chinny/clotters/AA/mafia to take them down.

 

That huge, unbridgable disparity in income between us and the skates is only going to widen, when they install the moneyfields arena as their new spiritual home.

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My next door neighbour is a ST holder there and is gutted with the support, problem for them is, the worse the match day experience, the less that people want to go. They're going to have to be very lucky to get out of this downhill spiral but I think their luck is running out (hopefully) with a hefty points deduction for the cheats.

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"Appleton is adamant he has not been instructed to sell off any of his players".

 

"And while he admits every player has his price".

 

"If people want to buy our players then I expect them to ring me first before anyone else".

 

‘Hopefully, I will be the first to know about it'.

 

‘I’m not daft enough to turn down ridiculous amounts of money'.

 

"As it stands, his first-team squad consists of just 20 players".

 

"Appleton added: ‘The size of the squad is a worry".

 

Is it only me that has a feeling of deja vu and expecting another 'please feel sorry for us' period ???

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"Appleton is adamant he has not been instructed to sell off any of his players".

 

"If people want to buy our players then I expect them to ring me first before anyone else".

 

‘Hopefully, I will be the first to know about it'.

 

 

It's not exactly hard to read between those lines.

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Its interesting to look at the pompey pages on the news as they are obviously in an "elephant in the room" situation where they appear to have articles about everything else except the fact that they are desperate for some "investment" or things will look very bleak.

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Liked this from a match report on a Millwall website:

 

Portsmouth. The eternal fall guys of the football league they have been forced in recent times to reword the famous ‘chimes’ song as it is now “pay up Pompey, Pompey, pay up” as the debt ridden club try their damndest to keep the once proud club out of the clutches of the receivers and almost certain doom.

 

Their once proud and slightly rambunctious fans are a sad, pale imitation these days, opting to dress up in Father Christmas outfits and deriding opposition fans lack of prowess in singing witty ditties.

 

How far they have fallen….so sad…so sad…but somehow, quite funny.

 

The premier league has a lot to answer for yet again, ripping the heart out of a club and then kicking them into touch and leaving them to rot and wither away, left to their own devices to try and climb back into the not so promised land of huge payments and even huger wage packages that make no sense whatsoever.

 

Still, it gives us a chuckle at their idiocy.

 

http://www.hof.org.uk/entry.php?b=317

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Still, it gives us a chuckle at their idiocy.http://www.hof.org.uk/entry.php?b=317

 

I 'chuckled' at these posts...

 

"Was told a group of 15 or so were drinking in the Foresters before the game until moved on by plod , Thing is Pompey seem to have more bellringing replica shirt expremiership hangers on then real hardcore nowadays"

 

"Was pompey John there with his bell? *;-)"

 

"East upper spotted him. "Sex case Sex case, hang him hang him hang him!!"

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Its interesting to look at the pompey pages on the news as they are obviously in an "elephant in the room" situation where they appear to have articles about everything else except the fact that they are desperate for some "investment" or things will look very bleak.

 

its the hope that kills them... Fratton is falling yet all they do is bleat about adding more mercenary to the most expensive XI

 

Perhaps they can see what happens when a local paper joins in with the protesting, raising awareness and calling for action in the way the Echo did whilst we were in financial distress. So instead they continue to shove their heads in the sand and only appear to stick their snouts in Lampitts fantasy trough.

 

I love this quote by voldy though:

 

If you start racking up a few suspensions and injuries, you really are getting to the bare bones of your squad

 

lap it up skates, lap it up. we will be pitching up our picnic tables for a front row seat, and its going to be magnificent

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I also love the way that the Portsmouth News does hyperbole continually...

 

"Pompey Stars in for the Battle"

 

"Pompey Hero set to Miss Out"

 

etc, etc.

 

They have some truly dreadful copywriters in Jordan Cross and his colleagues. All hype and no fact. You'd have thought they would have learned by now.

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I also love the way that the Portsmouth News does hyperbole continually...

 

"Pompey Stars in for the Battle"

 

"Pompey Hero set to Miss Out"

 

etc, etc.

 

They have some truly dreadful copywriters in Jordan Cross and his colleagues. All hype and no fact. You'd have thought they would have learned by now.

 

This ones good:

 

http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/blues_boss_refuses_to_gamble_on_forward_1_3370796

 

Blues boss refuses to gamble on forward

 

what he really means is they have to firesale his arse and cant risk injury.

 

http://evertontime.com/

 

The skates wouldnt understand that everton logic, what with the insane spending they have embarked upon since falling into administration...

 

 

Looks like were on for another bumper crowd for the Bristol City match, Lampit must be absolutely gutted that the Xmas fixtures list has been so immensely favourable to SFC - a conspiracy perhaps?

 

its a great opportunity to capitalise on the season of goodwill, lots of people on leave with time to spend with families, and the skates get stuck with two aways... PMSL, so the 692 that went to Millwall, plus maybe another 850 to Leceister this weekend (being a bit generous), the skates commission on away sales would muster up no more than around £7k - about enough to get TBH out of bed for ten minutes.

 

Saints will scoop around £5/600k, and of that about £300k is the additional bonus from the Xmas season walk ups etc.

 

The Xmas period may have been the skates last chance to make a run on getting some more of the few in to support the pathetic attendences

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Why exactly are they going to sell? Senior players on little value and huge wages no-one else would pay? How could there be a firesale even if they wanted one?

 

Even Huseklepp probably wouldn't get them back the stolen fee they paid.

 

This is a good point. They clearly need to try and offload anyone with any value, but how many of those have they got? The only ones they will get anything for are the youngsters who are on small wages. Somebody desperate (like Forest maybe) may have a punt at LL or DK, but if they paid them the wages that they're on at Pompey, there would be little or no transfer fee.

 

On the flip side, if they don't raise funds, they won't be able to pay January wages and will go into admin with the points deduction.

 

Maybe it's a case of their only hope of finding a buyer is to stay in the NPC at any cost, so keep the players, take the points hit and hope for a buyer and retention of NPC status.

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This is a good point. They clearly need to try and offload anyone with any value, but how many of those have they got? The only ones they will get anything for are the youngsters who are on small wages. Somebody desperate (like Forest maybe) may have a punt at LL or DK, but if they paid them the wages that they're on at Pompey, there would be little or no transfer fee.

 

On the flip side, if they don't raise funds, they won't be able to pay January wages and will go into admin with the points deduction.

 

Maybe it's a case of their only hope of finding a buyer is to stay in the NPC at any cost, so keep the players, take the points hit and hope for a buyer and retention of NPC status.

 

No news on this front at all at the moment !

I suppose all the billionaires are on their crimbo hols in Barbados ?

There's always the young lad with the bankrupt dad though, if all else fails !!!!

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No news on this front at all at the moment !

I suppose all the billionaires are on their crimbo hols in Barbados ?

There's always the young lad with the bankrupt dad though, if all else fails !!!!

 

Which reminds me, how is AA doing with the sale of the other company CSI owns - we all know it's the rights to WRC even if he didn't come out and say it!

 

That was a nailed on certainty to happen the week before Xmas wasn't it, with the money going to fund the billionaire lifestyle of TBH??

 

No news is good news I guess, but who for :D

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Surely any money from the sale of the WRC rights must go to the CSI creditor pot - not go directly into another CSI company?

 

It would go to the CSI pot not directly in to another company but as AA does as he wants he could try and justify that investment in P*****y improves its value and saleability and if the sale of WRC and P*****y is greater than the sale of just WRC then he can do it as it would be in the best interests of the CSI creditors. However, it would surely be a very risky strategy UNLESS he has a buyer already lined up based on such a deal falling in to place. However, the price of P*****y would be substantially increased by such a deal so who would want to do it? Mind you, we do not know what is going on do we ... and AA is not frightened to take risks!

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It would go to the CSI pot not directly in to another company but as AA does as he wants he could try and justify that investment in P*****y improves its value and saleability and if the sale of WRC and P*****y is greater than the sale of just WRC then he can do it as it would be in the best interests of the CSI creditors. However, it would surely be a very risky strategy UNLESS he has a buyer already lined up based on such a deal falling in to place. However, the price of P*****y would be substantially increased by such a deal so who would want to do it? Mind you, we do not know what is going on do we ... and AA is not frightened to take risks!

 

CSI only has one creditor and that is Chinny boy.

 

Since he's also a creditor of Pompey, then I guess he gets to say where the money goes - if he believes keeping Pompey alive is worth more in the long run, then I'm sure he'll let the money go that way.

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2012 predictions for our fishy friends?

 

I am getting in early with the shock revelation that Kanu was granted a final salary pension when he struck his deal with Storrie, the bad news for the Skates is that he is set to start claiming it in March having reached the official UK retirement age.

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