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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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Ken Tone

Ken Tone

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It amazes me how the media have been touting Redknapp as future England manager and Tottenham as possible champions , with no mention whatsoever of either this trial itself , or the slightly inconvenient possibility that Redknapp might actually go to jail ... and even if he were only fined, would the FA really want him as England manager if he were found guilty?

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trousers

trousers

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Poor old Pompey....It's not our fault Guv.....

 

PORTSMOUTH'S latest slide towards disaster means it is time for the Government to take strong action over who owns football clubs and how they run them.

That's the view of Ports-mouth South MP and Pompey fan Mike Hancock following the collapse of Joseph Cala's ludicrous takeover bid and news that the club face a new winding-up order from the tax man which could finally shut them down.

 

Lib Dem Hancock said: "I'm going to take it up with the sports minister and ask him if it's not about time he stepped in and looked at what can be done to regulate the way football clubs are owned and controlled.

 

"We have been serially shafted. We've had character after character turn up and say they are going to buy the club and make all sorts of promises. As long as someone has got the money or alleges they have the money they are allowed to take over part of our heritage.

 

"All these characters are just unbelievable and none of them should be allowed to get near a football club, in my opinion.

"If football doesn't start to deal with that stuff, in the end there is going to have to be Government intervention."

The football authorities ARE due to give a formal response soon to the damning MPs' report into the game published last year, which highlighted inadequate scrutiny of club ownership and finances.

 

Conveniently, the end of February is also the time Portsmouth could find themselves in court again fighting for their lives.

Both Pompey and football chiefs should remember what Blackadder once said to Baldrick: "I would advise you to make the explanation you are about to give phenomenally good."

 

Love that last quote :-)

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Corporate Ho

Corporate Ho

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That boat was missed the last time Chainrai was owner when he could have ordered a more circumspect player recruitment driver and given a decent young manager a chance. But he went short term for a chance to return to the PL or at least a quick sale on a side riding high in the Championship. That quick sale only brought Antonov, he was apparently the best of the bunch and didn't even give Chainrai any money for the club (repayment plan was reneged at the first time of asking). Currently they still have too large a wage bill to sustain on downward attendences, parachute payments that will only just cover the CVA scheduled to start in April, a wreck of a stadium which needs fixing and no chance of a change in owner type. It looks like the end game.

 

LOL. Like Chainrai ever cared anything about the club or did any sort of recruitment drive. We got Kitson and Lawrence because he didn't have to pay for them and didn't care what wages they were on because he wasn't paying. Why would he care. It's like when you lot keep banging on abou him "getting his money back" when he never put a penny into PFC in the first place. For investigative genius' you do seem to miss a lot of the basic facts. I also thought the parachute payments were all gone? I was told that repeatedly on here. You mean there is enough left in them now to cover the CVA? Shock horror.

 

Anyway, nail your colours to the mast girls. Will PFC be liquidated or will someone buy us. Let's have definitive answers please

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OldNick

OldNick

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LOL. Like Chainrai ever cared anything about the club or did any sort of recruitment drive. We got Kitson and Lawrence because he didn't have to pay for them and didn't care what wages they were on because he wasn't paying. Why would he care. It's like when you lot keep banging on abou him "getting his money back" when he never put a penny into PFC in the first place. For investigative genius' you do seem to miss a lot of the basic facts. I also thought the parachute payments were all gone? I was told that repeatedly on here. You mean there is enough left in them now to cover the CVA? Shock horror.

 

Anyway, nail your colours to the mast girls. Will PFC be liquidated or will someone buy us. Let's have definitive answers please

It is quite amusing to think that you spend the day unpacking dolls and then going home in the evening going home and blowing one up Lol.

 

At this moment in time I think liquidation, but I believe that AA has animal cunning and may well pull something out of the hat. HMRC will be the biggest threat but they may wait and see if funds are found. i doubt they wish to be seen to finish off a football club

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trousers

trousers

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Anyone know what a likely sentence is for Harry and Milan should the unthinkable happen and they are found to be less than fragrant?

 

For the wishful thinkers amongst us....

 

http://www.tottenblog.com/2012/01/harry-in-court-monday-maximum-penalty.html

Redknapp is to face trial accused of tax evasion relating to his time as manager of Portsmouth Football Club. The trial is due to start Monday 23rd January, and is likely to last for two weeks. Two payments totalling $295,000 (about £183,000) were allegedly made by Mr Mandaric to a Monaco bank account opened by Mr Redknapp, apparently linked to a bonus scheme where Redknapp was given a small percentage of any profits from transfers... the moral implications notwithstanding, that last bit isn't actually linked to the charge.

 

The prosecution allege that these payments were concealed in order to avoid the income tax and national insurance contributions for which the club was liable, as his employer, to pay. Redknapp has entered a plea of not guilty.

 

When dealing with serious tax evasion, the CPS often prefer to charge a suspect with the common law offence of cheating the public revenue. Cheating the public revenue must be tried in the Crown Court and cannot be tried in the magistrates’ court. On conviction, the maximum penalty that can be imposed is life imprisonment and/or an unlimited fine.

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saint si

saint si

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Posted

"We have been serially shafted. We've had character after character turn up and say they are going to buy the club and make all sorts of promises. As long as someone has got the money or alleges they have the money they are allowed to take over part of our heritage.

 

I think this is the attitude that most annoys me. All the bleating about the owners they've had.

 

Well guess what, if those characters hadn't turned up when they did to repeatedly bail you out, then you'd have disappeared in to oblivion a long time ago.

 

Now which is it you want again?

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buctootim

buctootim

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Thanks Trousers. I understand about the maximum, but wondered if anyone had an idea /experience of a likely sentence given the sums involved. 18 months suspended sentence seems about right to me, based on nothing at all. Cant see them actually going to prison.

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tony13579

tony13579

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https://twitter.com/#!/Pearcesport

 

Pearcesport James Pearce

Jamie Redknapp has also arrived at Court to support his father

9 minutes ago

 

Pearcesport James Pearce

Milan Mandaric has also arrived. My early start was worth it as I now have my ticket for duration of the trial. It's due to start at 1030

 

Pearcesport James Pearce

Redknapp/Mandaric trial being moved from Court 8 to Court 6, which is slightly bigger. Still not early enough room for those hoping to watch

 

Pearcesport James Pearce

2 hours until start of Redknapp/Mandaric trial but I'm already here. Only 19 seats for press so early start needed. I'm 7th in the queue!

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Frank's cousin

Frank's cousin

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Poor old Pompey....It's not our fault Guv.....

 

PORTSMOUTH'S latest slide towards disaster means it is time for the Government to take strong action over who owns football clubs and how they run them.

That's the view of Ports-mouth South MP and Pompey fan Mike Hancock following the collapse of Joseph Cala's ludicrous takeover bid and news that the club face a new winding-up order from the tax man which could finally shut them down.

 

Lib Dem Hancock said: "I'm going to take it up with the sports minister and ask him if it's not about time he stepped in and looked at what can be done to regulate the way football clubs are owned and controlled.

 

"We have been serially shafted. We've had character after character turn up and say they are going to buy the club and make all sorts of promises. As long as someone has got the money or alleges they have the money they are allowed to take over part of our heritage.

 

"All these characters are just unbelievable and none of them should be allowed to get near a football club, in my opinion.

"If football doesn't start to deal with that stuff, in the end there is going to have to be Government intervention."

The football authorities ARE due to give a formal response soon to the damning MPs' report into the game published last year, which highlighted inadequate scrutiny of club ownership and finances.

 

Conveniently, the end of February is also the time Portsmouth could find themselves in court again fighting for their lives.

Both Pompey and football chiefs should remember what Blackadder once said to Baldrick: "I would advise you to make the explanation you are about to give phenomenally good."

 

Love that last quote :-)

 

Thing is this is actually the real issue and the reason why so many Fans hate them - because they were not complaining about their owners who were for whatever reason allowing them to spend - to slowly increase the det that gave them a squad capable of staying in the PL and winning the Cup... at that time they were already 38mil in the hole - (without adding any Tax liabilties that we did not know about at the time) and not spent on something sensible like decent facilities for teh fans or an academy or traing ground or towards a new stadium, but directly on gaining a footballing advantage... and now this chump has the cheak to say its time someone stepped in? Well if someone stepped in to control owners and finances when they should have done, they would not have achieved what they did... you cant have it both ways....

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Ken Tone

Ken Tone

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LOL. Like Chainrai ever cared anything about the club or did any sort of recruitment drive. We got Kitson and Lawrence because he didn't have to pay for them and didn't care what wages they were on because he wasn't paying. Why would he care. It's like when you lot keep banging on abou him "getting his money back" when he never put a penny into PFC in the first place. For investigative genius' you do seem to miss a lot of the basic facts. I also thought the parachute payments were all gone? I was told that repeatedly on here. You mean there is enough left in them now to cover the CVA? Shock horror.

 

Anyway, nail your colours to the mast girls. Will PFC be liquidated or will someone buy us. Let's have definitive answers please

 

There is a third alternative:

 

PFC could sell immediately Ward, Pearce and anyone else who might actually get a fee, and so pay the tax bill to avoid the winding up order, and then by giving free transfers to most of the rest of the first team squad or cancelling contracts by mutual agreement, reduce the wages to a level where the club might just scrape through the season financially, playing the youth team ... much as we did. It's called 'living within your means'.

 

It would of course result in relegation, much as it did for us. It's called 'living within your means'. I felt perhaps I needed to repeat that , since it seems such an alien concept to pompey fans.

 

Then in L1 if you still sell any player who looks half decent, you'd continue to scrape by, with even smaller crowds , still unable to pay for decent players and end up relegated again.

 

Eventually you'd reach a level that matches your crowds and 'stadium', and your income will finally balance your expenditure. Then maybe Chainrai will be able to find someone at least almost honest to pay him some of the money he says he's owed (no idea who really owes what ..it's such a mess ) And then you'll potter along for the foreseeable future in L1, or L2 , or even the conference, competing with the likes of Bournemouth and Swindon in good years, or Havant and Basingstoke in the bad years. I think personally I'd prefer that to your being wound up.

 

Have fun!

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dubai_phil

dubai_phil

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It is quite amusing to think that you spend the day unpacking dolls and then going home in the evening going home and blowing one up Lol.

 

At this moment in time I think liquidation, but I believe that AA has animal cunning and may well pull something out of the hat. HMRC will be the biggest threat but they may wait and see if funds are found. i doubt they wish to be seen to finish off a football club

 

Question.

 

Who paid Comical Andy last time round?

 

That helped the club survive last time round?

 

Not put a penny in

 

Another great myth from the PlaySkool that the few inhabit

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Gingeletiss

Gingeletiss

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LOL. Like Chainrai ever cared anything about the club or did any sort of recruitment drive. We got Kitson and Lawrence because he didn't have to pay for them and didn't care what wages they were on because he wasn't paying. Why would he care. It's like when you lot keep banging on abou him "getting his money back" when he never put a penny into PFC in the first place. For investigative genius' you do seem to miss a lot of the basic facts. I also thought the parachute payments were all gone? I was told that repeatedly on here. You mean there is enough left in them now to cover the CVA? Shock horror.

 

Anyway, nail your colours to the mast girls. Will PFC be liquidated or will someone buy us. Let's have definitive answers please

 

Liquidation gets my vote, it's what you deserve.

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Channon's Sideburns

Channon's Sideburns

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There is a third alternative:

 

PFC could sell immediately Ward, Pearce and anyone else who might actually get a fee, and so pay the tax bill to avoid the winding up order, and then by giving free transfers to most of the rest of the first team squad or cancelling contracts by mutual agreement, reduce the wages to a level where the club might just scrape through the season financially, playing the youth team ... much as we did. It's called 'living within your means'.

 

It would of course result in relegation, much as it did for us. It's called 'living within your means'. I felt perhaps I needed to repeat that , since it seems such an alien concept to pompey fans.

 

Then in L1 if you still sell any player who looks half decent, you'd continue to scrape by, with even smaller crowds , still unable to pay for decent players and end up relegated again.

 

Eventually you'd reach a level that matches your crowds and 'stadium', and your income will finally balance your expenditure. Then maybe Chainrai will be able to find someone at least almost honest to pay him some of the money he says he's owed (no idea who really owes what ..it's such a mess ) And then you'll potter along for the foreseeable future in L1, or L2 , or even the conference, competing with the likes of Bournemouth and Swindon in good years, or Havant and Basingstoke in the bad years. I think personally I'd prefer that to your being wound up.

 

Have fun!

 

That third option seems to be the method Brian Howe would use. TBF to the guy, having seen his Facebook page, he's the type of owner they SHOULD have had after the first (or was it the second?!) admin.

 

And yet, apparently Pompey fans have been abusing him online.

 

Good move...alienate probably the one individual who gives a sh1t that maybe in a position to assist.

 

Karma dear friends, Karma.

In response to dear ol Ho, for me? Liquidation - aside from the humour that would provide to us Saints fans, perhaps the truth will finally come out into the public domain - then you can support AFC Pompey, an honest phoenix club, and we can all move on.

Everyone's a winner, petit dejeuner (as Honest Arry would say).

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Ken Tone

Ken Tone

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Thanks Trousers. I understand about the maximum, but wondered if anyone had an idea /experience of a likely sentence given the sums involved. 18 months suspended sentence seems about right to me, based on nothing at all. Cant see them actually going to prison.

 

Sadly I fear you're right. If guilty, then a fine and suspended sentence seem likely to me. Community service would be interesting, but I bet the media would soon be running a feature on how lovable 'Arry was coaching East End kids to stardom.

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Gingeletiss

Gingeletiss

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There is a third alternative:

 

PFC could sell immediately Ward, Pearce and anyone else who might actually get a fee, and so pay the tax bill to avoid the winding up order, and then by giving free transfers to most of the rest of the first team squad or cancelling contracts by mutual agreement, reduce the wages to a level where the club might just scrape through the season financially, playing the youth team ... much as we did. It's called 'living within your means'.

 

It would of course result in relegation, much as it did for us. It's called 'living within your means'. I felt perhaps I needed to repeat that , since it seems such an alien concept to pompey fans.

 

Then in L1 if you still sell any player who looks half decent, you'd continue to scrape by, with even smaller crowds , still unable to pay for decent players and end up relegated again.

 

Eventually you'd reach a level that matches your crowds and 'stadium', and your income will finally balance your expenditure. Then maybe Chainrai will be able to find someone at least almost honest to pay him some of the money he says he's owed (no idea who really owes what ..it's such a mess ) And then you'll potter along for the foreseeable future in L1, or L2 , or even the conference, competing with the likes of Bournemouth and Swindon in good years, or Havant and Basingstoke in the bad years. I think personally I'd prefer that to your being wound up.

 

Have fun!

 

Ummm!! I don't think so, someone posted a short while ago, that under FL rules, failure to pay your tax liabilities, will result in a TRANSFER EMBARGO.

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Corporate Ho

Corporate Ho

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Thing is this is actually the real issue and the reason why so many Fans hate them - because they were not complaining about their owners who were for whatever reason allowing them to spend - to slowly increase the det that gave them a squad capable of staying in the PL and winning the Cup... at that time they were already 38mil in the hole - (without adding any Tax liabilties that we did not know about at the time) and not spent on something sensible like decent facilities for teh fans or an academy or traing ground or towards a new stadium' date=' but directly on gaining a footballing advantage... and now this chump has the cheak to say its time someone stepped in? Well if someone stepped in to control owners and finances when they should have done, they would not have achieved what they did... you cant have it both ways....[/quote']

 

You're missing a couple of very basic points though FC.

 

When we were in the PL most Pompey fans were crying out for a new ground and training facilities to be built. Also, ref the debt, the PL is built on debt. Most mid table PL clubs at the time Pompey were there had debt levels very similar to us, as the David Conn article I've posted several times proves. If we won the cup because we had an unfair advantage why haven't teams like Bolton, Wigan, Villa, West Ham, Everton Sunderland (and on and on) won the cup because all of them had debt levels similar to Pompey's and most had similar wages to turnover ratios.

 

The issue here (that should be addressed by the FL and PL) is to stop owners loading debt onto clubs. Our debt levels increased dramatically despite (as, again I've said beore) selling over £70m worth of players. Even allowing for agents fees and paying loyalty bonuses how did that happen without the club being the victim of dodgy dealing? This board is full of gloating but you're club could see it happen to them too. All it takes is for the Liebherr's to decide to sell and you could have the next Carson Yeung at the helm

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Weston Super Saint

Weston Super Saint

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Sadly I fear you're right. If guilty, then a fine and suspended sentence seem likely to me. Community service would be interesting, but I bet the media would soon be running a feature on how lovable 'Arry was coaching East End kids to stardom.

 

I'm sure 'Arry's recent 'heart' problems will ensure that the beak doesn't give him bird. Not that I'm suggesting that was a conveniently times heart scare of course ;)

 

I suspect a slap on the wrist and a large fine - which no doubt Milan would take care of.

 

The only interesting thing is the Storrie teller's spanner in the works - did he really turn Queen's????

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angelman

angelman

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Bet he only gets a slap on the wrist and a hefty fine, they wont send him down as there is too much external influence.

 

Can't agree. Tax evasion is something you don't want to get pulled up on. Lester Piggot knew the right people and look what happened to him. I suspect that, unless HMRC cock it up, he will be found guilty as I am not sure that they would bring a case without being pretty damn sure of things (given it's high profile). Whether a custodial sentence will be passed is something else. I imagine a heavy fine and a suspended sentence if found guilty. Of course innocent until proved guilty.

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Channon's Sideburns

Channon's Sideburns

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Posted
You're missing a couple of very basic points though FC.

 

When we were in the PL most Pompey fans were crying out for a new ground and training facilities to be built. Also, ref the debt, the PL is built on debt. Most mid table PL clubs at the time Pompey were there had debt levels very similar to us, as the David Conn article I've posted several times proves. If we won the cup because we had an unfair advantage why haven't teams like Bolton, Wigan, Villa, West Ham, Everton Sunderland (and on and on) won the cup because all of them had debt levels similar to Pompey's and most had similar wages to turnover ratios.

 

The issue here (that should be addressed by the FL and PL) is to stop owners loading debt onto clubs. Our debt levels increased dramatically despite (as, again I've said beore) selling over £70m worth of players. Even allowing for agents fees and paying loyalty bonuses how did that happen without the club being the victim of dodgy dealing? This board is full of gloating but you're club could see it happen to them too. All it takes is for the Liebherr's to decide to sell and you could have the next Carson Yeung at the helm

 

Ho, you make some valid points, but I don't think teams like Bolton and Sunderland were spunking £50k + per week on players who were never worth it in the first place.

 

Two, maybe three people to blame - Good ol Arry, Storrieteller and Mandaric - the holy threesome who started the rot.

 

Gaydamak and the rest just kept it rolling.

 

A bit like Nigel's bus without the financial nous.

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Brizzie Saints

Brizzie Saints

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You're missing a couple of very basic points though FC.

 

When we were in the PL most Pompey fans were crying out for a new ground and training facilities to be built. Also, ref the debt, the PL is built on debt. Most mid table PL clubs at the time Pompey were there had debt levels very similar to us, as the David Conn article I've posted several times proves. If we won the cup because we had an unfair advantage why haven't teams like Bolton, Wigan, Villa, West Ham, Everton Sunderland (and on and on) won the cup because all of them had debt levels similar to Pompey's and most had similar wages to turnover ratios.

 

The issue here (that should be addressed by the FL and PL) is to stop owners loading debt onto clubs. Our debt levels increased dramatically despite (as, again I've said beore) selling over £70m worth of players. Even allowing for agents fees and paying loyalty bonuses how did that happen without the club being the victim of dodgy dealing? This board is full of gloating but you're club could see it happen to them too. All it takes is for the Liebherr's to decide to sell and you could have the next Carson Yeung at the helm

Yes but if they did decide to sell wot would the prospective buyer be getting.

1. A first class 32k seater modern stadium

2. a Multi million pound state of the art training facility

3. A large even by PL standards loyal fan base with merchandising spin offs

4. The nucleas of a reasonable pL team

 

Now wot do you have........................................eh....................................o yeah F*ck All

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bridge too far

bridge too far

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Posted
I'm sure 'Arry's recent 'heart' problems will ensure that the beak doesn't give him bird. Not that I'm suggesting that was a conveniently times heart scare of course ;)

 

I suspect a slap on the wrist and a large fine - which no doubt Milan would take care of.

 

The only interesting thing is the Storrie teller's spanner in the works - did he really turn Queen's????

 

The BBC has just referred to his 'heart surgery'. I think, from memory, he had a stent or a balloon fitted. Most people who have this procedure are able to return to work more or less straight away.

 

It was hardly open heart stuff, was it (although I'm sure it wasn't very nice). But never mind, let's wring out our hankies, eh?

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Goalie66

Goalie66

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LOL. Like Chainrai ever cared anything about the club or did any sort of recruitment drive. We got Kitson and Lawrence because he didn't have to pay for them and didn't care what wages they were on because he wasn't paying. Why would he care. It's like when you lot keep banging on abou him "getting his money back" when he never put a penny into PFC in the first place. For investigative genius' you do seem to miss a lot of the basic facts. I also thought the parachute payments were all gone? I was told that repeatedly on here. You mean there is enough left in them now to cover the CVA? Shock horror.

 

Anyway, nail your colours to the mast girls. Will PFC be liquidated or will someone buy us. Let's have definitive answers please

 

Liqidation would be too kind. Another buyer like Cala would be much more fun. However, Pompey ,like Blackadder have had their needles up their nostrils for the last time and there are no more "cunning plans"

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Brizzie Saints

Brizzie Saints

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Posted
The BBC has just referred to his 'heart surgery'. I think, from memory, he had a stent or a balloon fitted. Most people who have this procedure are able to return to work more or less straight away.

 

It was hardly open heart stuff, was it (although I'm sure it wasn't very nice). But never mind, let's wring out our hankies, eh?

 

Can see the headlines now.

 

"Hickory Dickory Dock, Harry Goes Pop in the DOCK"

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buctootim

buctootim

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Posted
It look as though there are still people out there interested in buying Championship football clubs.

 

http://news.bbc.co.uk/sport1/hi/football/16677417.stm

 

But only those worth investing in.

 

Its a real pity for Pompey. Anton and his dad Boris would have been ideal for Pompey. Totally 'kin alarming choice for Reading though.

http://www.rumafia.com/person.php?id=204

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saintjay77

saintjay77

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Posted
LOL. Like Chainrai ever cared anything about the club or did any sort of recruitment drive. We got Kitson and Lawrence because he didn't have to pay for them and didn't care what wages they were on because he wasn't paying. Why would he care. It's like when you lot keep banging on abou him "getting his money back" when he never put a penny into PFC in the first place. For investigative genius' you do seem to miss a lot of the basic facts. I also thought the parachute payments were all gone? I was told that repeatedly on here. You mean there is enough left in them now to cover the CVA? Shock horror.

 

Anyway, nail your colours to the mast girls. Will PFC be liquidated or will someone buy us. Let's have definitive answers please

 

Chinny leant money to people who bought the club, thats why he had a charge on it, he also leant the club money last time round to keep it going while someone else promised to pay him a shed load of cash for the club. That cash didnt turn up so he is still owed money that he in-directly put into the club.

 

Thats what I can gather anyway.

 

The parachute payments were supposedly dipped into and depending on what day of the week it is, AA claims the parachute payments cover the CVA or who ever buys the club needs to put in enough to cover the CVA as it falls due. Why would they need that if the Parachute payments cover it?

 

That many storys have come out over what is owed and to who its very hard to keep up, but my guess is that the debt and what money is available is somewhere in between the 2 extremes AA likes to spout.

 

If pompey was another business and not footy it would have been liquidated a long time ago, as it is supposed to be all about footy I would guess there will be life line after life line in a bid to save it. But ultimately its best chances are to cut run and setup an AFC. Sooner the phew realise that the better IMO.

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