Will P*mpey last till the derby?

[Highfield Saint]

 

Personally, it does sound more and more like it's in somebody's interest for them to go under to me...

 

Could that be Chainrai??

 

What if the value of the assets he has a charge over is larger than the amount he is owed??

[saintmonkey1979]

What assets?

[Bucks Saint]

Could that be Chainrai??

 

What if the value of the assets he has a charge over is larger than the amount he is owed??

 

that will go to other creditors (though not until after the costs of the Liquidation or Admin)

[Highfield Saint]

I dont know but would guess primarily land and property. It would be unusual for a money lender of his ilk to lend money without seeking security to comfortably cover the loan. This may be part of a hidden arrangement or side deal.

 

Certainly it doesnt appear credible that an asset supported loan would be advanced on the basis that the chargeholder may have to advance significant further sums (at risk) to stand a chance of recovering the original amount.

 

If he operated like that I would suggest that he wouldnt have been around for long. If it is the case though then perhaps he'd lend me some money

[suewhistle]

I dont know but would guess primarily land and property. It would be unusual for a money lender of his ilk to lend money without seeking security to comfortably cover the loan. This may be part of a hidden arrangement or side deal.

 

Certainly it doesnt appear credible that an asset supported loan would be advanced on the basis that the chargeholder may have to advance significant further sums (at risk) to stand a chance of recovering the original amount.

 

If he operated like that I would suggest that he wouldnt have been around for long. If it is the case though then perhaps he'd lend me some money

 

This is what leads me to believe there is a whole lot of mucky stuff going on. People with money (unless all inherited like Gaydamak?) tend to having a bit of a clue about finance, as you suggest. The more I hear of this story the less I'm beginning to believe that, though!

[hypochondriac]

To quote the administrator on Solent last night:

 

"if they lose on Wednesday, then that's it. They need to be in administration before next Wednesday and what worries me is that the word on the street amongst administrators is that they are not talking to anybody. They either believe 100% they will win next Wednesday or are heading down a track they shouldn't even consider" (something like that, at that point I was getting bored).

 

cue much gnashing of teeth from the skate commentators and Andy Awful.

 

Personally, it does sound more and more like it's in somebody's interest for them to go under to me...

 

So really it's sh*t or bust. They aren't going to pay the money if they lose anyway.

[Gingeletiss]

So really it's sh*t or bust. They aren't going to pay the money if they lose anyway.

 

As someone else has posted...this may have happened, because the invisible man was going to seek an administration order, and that may have spoilt the plan!!!!!!

 

So the end game nears, my bet is on Col Mustard, with the lead pipe, in the lounge

[Tomobz]

has anyone been able to get odds on them not making the game? weird stuff going on down there, they have got to be wrapped up next wedsnesday.

[Tomobz]

they have just given a new contract for 3 years to mark wilson... surely that is signs that they aren't dead in the water?

[PaulSaint]

Love the picture that the BBC are using at the top of their Sports Page tody:

 

http://news.bbc.co.uk/sport

 

[Master Bates]

Hopefully the game doesn't end in a thai......

[SFC Forever]

they have just given a new contract for 3 years to mark wilson... surely that is signs that they aren't dead in the water?

 

A contract is worthless if the club goes kaput.

[UncleRay]

Hopefully the game doesn't end in a thai......

 

Legend

[Right sider]

The 'new' takeover is being disputed by Al Mirage! With a legal challenge maybe the money won't be in place for the high court

[sad saints fan]

I dont know if this has already been posted on here ,and 10 pages is to much to trawl through.

I am working with some skate groundworkers in Andover and they reckon that the land where FP is built was given to the football club by the council ,with the legal agreement that it would only be used as a football stadium as long as PFC was around.

Now if the football club disappears there is some pretty profitable real estate there just waiting to be developed and every body involved down there at the moment including this new bloke ,have all made a lot of money in property development.

 

That was a statement from a skate so I take not responsibility for the content.

[Right sider]

That sounds like most of the rumour i've read/heard

[Dark Munster]

How many players have they got on loan? I thought there was a limit on loan players?

 

5 allowed per match I think, almost half a team! So it's possible that they could cheat their way to victory on the 13th using a number of players whose wages will never be paid.

[Ken Tone]

I dont know if this has already been posted on here ,and 10 pages is to much to trawl through.

I am working with some skate groundworkers in Andover and they reckon that the land where FP is built was given to the football club by the council ,with the legal agreement that it would only be used as a football stadium as long as PFC was around.

Now if the football club disappears there is some pretty profitable real estate there just waiting to be developed and every body involved down there at the moment including this new bloke ,have all made a lot of money in property development.

 

That was a statement from a skate so I take not responsibility for the content.

 

It is true that the council gave the stadium (only) ground to the club but I haven't heard of any legal tie to ensure it is only used for football

 

Of course this does suggest that the council would fight ant attempt to build on the stadium land but planning law might we'll make the counci lose.

 

In any event surely the stadium land isn't worth all that much. Chainrai is owed more than the stadium is worth as land.

 

The neighbouring land is owned by Gaydamak still.

 

K.

[Gingeletiss]

It is true that the council gave the stadium (only) ground to the club but I haven't heard of any legal tie to ensure it is only used for football leisure

 

Of course this does suggest that the council would fight ant attempt to build on the stadium land but planning law might we'll make the counci lose.

 

In any event surely the stadium land isn't worth all that much. Chainrai is owed more than the stadium is worth as land.

 

The neighbouring land is owned by Gaydamak still.

 

K.

 

 

I've added a word for you, the council offical giving it large the other day, definatley said leisure and not football. So if that is the case, then there is scope for a redevelopment.

[Foxy]

Now even the upper crust are joining in the frenzy:

 

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/7159059/Grosvenor-joins-HMRC-winding-up-petition-against-Portsmouth-football-club.html

[Rogerfryisalegend]

[Wes Tender]

Taken from a Skate fans' forum:-

 

A delegation of Pompey fans will be meeting Premier League officials at 1pm on Friday February 5. The questions they intend to raise include the following four:

 

1: The Fit and Proper Persons Test: It is clear to us fans that it doesn't work as Daniel Azougy's activity at Portsmouth FC has shown. How will it ensure effective ownership of Portsmouth FC going forward?

 

2: The Premier League's powers to regulate and even Administer Portsmouth FC: Is this a viable option and if not how can the Premier League help us to save Portsmouth FC?

 

3: Suitability of punishments for entering Administration: Due to the unique circumstances that have beset Portsmouth FC, the Premier League should accept that there SHOULD NOT be any points deduction if the club enters Administration or is taken over by the Premier League.

 

4: The process if Peter Storrie should be convicted of cheating the Public Revenue. What will happen to Portsmouth FC?

 

I wonder how it all went? Regarding number 3, you have to admire the blind optimism that the Premier League will let them off the points deduction due to the unique circumstances of their current plight. So they feel that if they go into administration and wipe off all their debts, they do not see that they will then have an advantage over several other clubs who might remain in straightened financial circumstances and therefore restricted on their levels of expenditure on players, wages, etc.

 

Talk about naive!

[SNSUN]

Taken from a Skate fans' forum:-

 

 

 

I wonder how it all went? Regarding number 3, you have to admire the blind optimism that the Premier League will let them off the points deduction due to the unique circumstances of their current plight. So they feel that if they go into administration and wipe off all their debts, they do not see that they will then have an advantage over several other clubs who might remain in straightened financial circumstances and therefore restricted on their levels of expenditure on players, wages, etc.

 

Talk about naive!

 

I agree. The League would have so many lawsuits on their hands from clubs that have suffered like us that they wouldn't do it. (Though I would take Pompey not getting the points deduction if we can get ours wiped...)

[Tony F]

Thinking of points deductions.... what did Luton do to get -35 (is that right?) a couple of seasons ago?

 

Was their "plight" better/worse/similar to Po#pey's?

[CanadaSaint]

Taken from a Skate fans' forum:-

 

 

 

I wonder how it all went? Regarding number 3, you have to admire the blind optimism that the Premier League will let them off the points deduction due to the unique circumstances of their current plight. So they feel that if they go into administration and wipe off all their debts, they do not see that they will then have an advantage over several other clubs who might remain in straightened financial circumstances and therefore restricted on their levels of expenditure on players, wages, etc.

 

Talk about naive!

 

I'm interested in number 2 because the longer this goes on without the league stepping in to help, the more likely it is that they are willing to see a team go under in order to nudge others towards greater financial sanity. If they were going to act, surely they would have done it by now.

[so22saint]

As we all know, the FAPL can do what they like, and they might let them get away without 9 pts this year.

 

If they do though, and they go down, which is likely, then I'd expect -35 or something from the FL.

 

Now, I'll be gutted about that in a way, as I expect us to go up next year, in which case no local derby

[ringwood]

Well didn't both Luton and Bournemouth get hit because they had history of admin? well so do the Skates, so if they arrive in the FL, then Storrie, Redcrapp et al get whats coming the FL will have to act.

 

If by some miracle they are still in the PL when Storrie Redcrapp et al get done what happens? it will be interesting which way the PL react

 

Off course with Milan now being at another club where would his penalty be served? and who will impose it?

[Bucks Saint]

Thinking of points deductions.... what did Luton do to get -35 (is that right?) a couple of seasons ago?

 

Was their "plight" better/worse/similar to Po#pey's?

 

Luton's treatment sums up the League perfectly (try to remember that the League is effectively an Industry Body, which EXISTS only because of members and its only PURPOSE is to serve its members).

 

Luton got deducted 10 like us, but then the new owners came in, took control, found that the previous regime had been seriously breaking the rules on how they accounted for transfers, that some agents commissions had been channelled through another company or paid in cash and not disclosed, etc etc. The new owners did the decent thing and alerted the League to this (and the Revenue). The League had no knowledge of this previously -and so what did Lord Haw Haw do? Promptly docked the new Luton another 15 points, condemning them to certain relegation to the Conference (although they gave it a decent shot and were not down until April)

 

My best mate is a Hatter and I was at the JPT final with him last year - which they won - and I shouted abuse at Lord Haw Haw as did the 35,000 Hatters.

Edited 8 February, 2010 by Bucks Saint
error

[Gigersaint]

As someone else has posted...this may have happened, because the invisible man was going to seek an administration order, and that may have spoilt the plan!!!!!!

 

So the end game nears, my bet is on Col Mustard, with the lead pipe, in the lounge

 

So it wasn't St Will, with the Golf Club, in The Muppet show then?? :smt119

 

 

I'll get me coat...

[Wes Tender]

A couple of reasons to laugh before bedtime at our dear friends along the road.

 

The result of the meeting that the Skate delegation had with the Premier League seems to have been that they have made matters worse for the club, if that is possible. Some wag commenting on the article reporting the outcome suggested that Saints supporters couldn't have done a better job of screwing it up. I get the feeling that they didn't manage to convince the PL that they were a special case and shouldn't be docked the 9 points if they went into administration. Also that Chainrai would be subject to intense scrutiny, something that upsets them, as Chainrai is seen to be a possible saviour for them.

 

Secondly, the Guardian reports on the situation as it stands with the club and prospective new owners. Storrie-teller hints in typical estate agent fashion that there had been a prospective buyer interested for a while, but that now there were two. So that first buyer had better get a move on, eh, lest he loses the opportunity.

 

And then this quote, which had me in stitches:-

Storrie said any purchaser of Pompey would be acquiring a bargain. "It's certainly good value. The club will go for nothing. The new owner would, though, have to take on the debt, and excluding the money owed to Sacha Gaydamak, the debts are down to £25m, and most of those are normal footballing debts."

 

He conveniently skims over the details of the amount owed to Gaydamak, which appears to be a further £33 million!

 

Any sensible potential investor will not in any event be putting his money into a Premiership club that by the end of the season will be a Fizzy Pop club next season with a lot of debt and a small stadium without the capacity to bring in enough revenue to service the debt.

 

I recall that it wasn't that long ago that we were having the debate about whether it was better to be us in the third with a decent stadium and a billionaire owner, or them in the Premiership with their crap stadium and debts. There used to be several tame Skates who came on here and tried to convince us that they were in the better position and some on here agreed with them. I'm not hearing much from them now about how the Skates are better off than us.

[tttdcs]

http://www.newsoftheworld.co.uk/sport/721516/LIGHTS-OUT-FOR-PORTSMOUTH.html

 

 

Saints to write off £120,000 .................

[benjii]

But a St Mary's spokesperson said: "It is a relatively small amount of money for us so we are prepared to take the risk rather than cause any bad feeling."

 

Very admirable but I think we should have shafted them.

[Eddie Lizzard]

But a St Mary's spokesperson said: "It is a relatively small amount of money for us so we are prepared to take the risk rather than cause any bad feeling."

 

Very admirable but I think we should have shafted them.

 

I look forward to receiving their thanks for such a generous and compassionate act.

[Whitey Grandad]

"It's a relatively small amount of money for us"

 

What a put-down!

[SaintRichmond]

Luton's treatment sums up the League perfectly (try to remember that the League is effectively an Industry Body, which EXISTS only because of members and its only PURPOSE is to serve its members).

 

Luton got deducted 10 like us, but then the new owners came in, took control, found that the previous regime had been seriously breaking the rules on how they accounted for transfers, that some agents commissions had been channelled through another company or paid in cash and not disclosed, etc etc. The new owners did the decent thing and alerted the League to this (and the Revenue). The League had no knowledge of this previously -and so what did Lord Haw Haw do? Promptly docked the new Luton another 15 points, condemning them to certain relegation to the Conference (although they gave it a decent shot and were not down until April)

 

My best mate is a Hatter and I was at the JPT final with him last year - which they won - and I shouted abuse at Lord Haw Haw along with the 35,000 Hatters.

 

Quite right too, thoughthe upper class Tw*t cannot come down to the level of FANS

 

Even now, in Portsmouths case, he , and the rest of the in bred FA Heirachy, will do everything they can think of to keep "one of theirs", ie , a Prem Club, form going to the wall

 

Luton, Chester, and Bournemouth Fans must be SICK at how the Sweet FA conduct themselves :cool:

[Matthew Le God]

http://www.newsoftheworld.co.uk/sport/721516/LIGHTS-OUT-FOR-PORTSMOUTH.html

 

 

Saints to write off £120,000 .................

 

It is not written off.

 

1) If the game goes ahead then it can be deducted from the gate receipts Saints would have to pay Pompey.

 

2) If the game doesn't go ahead then it doesn't matter as no-one would have a ticket as would all have to be refunded anyway.

[Clapham Saint]

It is not written off.

 

1) If the game goes ahead then it can be deducted from the gate receipts Saints would have to pay Pompey.

 

2) If the game doesn't go ahead then it doesn't matter as no-one would have a ticket as would all have to be refunded anyway.

 

Exactly we're not writing it off. Just not insisting that they pay upfront.