Jump to content

Pompey Takeover Saga


Fitzhugh Fella

Recommended Posts

Andronikou's legacy at Swindon?

 

Didn't it take him seven years to 'complete' that job last time?

 

Brace yourself for the Football League hitting Swindon with a minus 40 for 'regular insolvency events' while presenting pompey with an award for work with local charities and their assistance with advanced training courses for plumbers.

I presume their fine manager will blame immigration or asylum seekers, and then head off to invade eastern Europe.

 

 

It could be an opportunity for Birch to make a few more quid in his specialist area, so he might want to clear his current workload a bit sharpish.....

Link to comment
Share on other sites

@pn_neil_allen: RT @neilperrettecho: Top work by @gordonsimpson on Dan Seaborne story, especially as our sister #localpapersalwaysfirst has been banned by #saintsfc for 2 years

 

@pn_neil_allen: @neilperrettecho @gordonsimpson Great job, Gordon! Brothers-in-arms!!

Edited by trousers
Link to comment
Share on other sites

http://www.bbc.co.uk/sport/0/football/21058754

 

Stop me if you have heard this one before but Portsmouth were supposed to go to the High Court on Tuesday. In administration (and the relegation zone), millions in debt, senior players up for grabs… oh, you have heard this one before.Fair enough. In the context of their recent history, this adjourned visit to the Royal Courts of Justice was always going to be the equivalent of a tie in the early stages of the Johnstone's Paint Trophy.

But Pompey's next court hearing, on 31 January, could set the date for the biggest fixture in their 114-year history, which is saying something for a club that has contested five FA Cup finals.

The dispute is between PKF, the insolvency firm that has been running the club for almost a year, and Portpin, one of Pompey's five different owners since 2009, and the issue they are arguing about is a fair valuation of the club's Fratton Park home.

 

If PKF win, they will sell the club and all its assets to the Pompey Supporters Trust, giving the fans an opportunity to run the club themselves. If Portpin win, the Trust's plan unravels and it becomes difficult to see Portsmouth FC lasting much beyond its 115th birthday party.

Link to comment
Share on other sites

Why on earth is going into administration to 'reduce debt' an acceptable option for a football club but not any other buisness. It is getting a bit silly.

 

http://www.bbc.co.uk/sport/0/football/21047858

 

I know we are guilty of it too but it does seem a strange contradiction.

 

We didn't go into administration to reduce our debt....indeed, all debts were settled outside of the confines of a CVA.

Link to comment
Share on other sites

Stop me if you have heard this one before but Portsmouth were supposed to go to the High Court on Tuesday. In administration (and the relegation zone), millions in debt, senior players up for grabs… oh, you have heard this one before.Fair enough. In the context of their recent history, this adjourned visit to the Royal Courts of Justice was always going to be the equivalent of a tie in the early stages of the Johnstone's Paint Trophy.

 

But Pompey's next court hearing, on 31 January, could set the date for the biggest fixture in their 114-year history, which is saying something for a club that has contested five FA Cup finals.

The dispute is between PKF, the insolvency firm that has been running the club for almost a year, and Portpin, one of Pompey's five different owners since 2009, and the issue they are arguing about is a fair valuation of the club's Fratton Park home.

 

If PKF win, they will sell the club and all its assets to the Pompey Supporters Trust, giving the fans an opportunity to ruin the club themselves. If Portpin win, the Trust's plan unravels and it becomes difficult to see Portsmouth FC lasting much beyond its 115th birthday party.

A minor edit for the sake of accuracy.

Link to comment
Share on other sites

250px-Gimbatulash.jpeg

 

The Scumfinder General

 

Exactly the one I was thinking of!

 

Quite. Wasn't he the one that, when the subject of fresh meat supplies was being discussed in relation to eating some Hobbits and was knocked back by a senior orc on account of their being wanted alive by the authorities, asked

"What about their legs? they don't need their legs"

Edited by Waterside.saint
Link to comment
Share on other sites

I've read it 3 times and still can't spot the difference!

 

Stop me if you have heard this one before but Portsmouth were supposed to go to the High Court on Tuesday. In administration (and the relegation zone), millions in debt, senior players up for grabs… oh, you have heard this one before.Fair enough. In the context of their recent history, this adjourned visit to the Royal Courts of Justice was always going to be the equivalent of a tie in the early stages of the Johnstone's Paint Trophy.

 

But Pompey's next court hearing, on 31 January, could set the date for the biggest fixture in their 114-year history, which is saying something for a club that has contested five FA Cup finals.

The dispute is between PKF, the insolvency firm that has been running the club for almost a year, and Portpin, one of Pompey's five different owners since 2009, and the issue they are arguing about is a fair valuation of the club's Fratton Park home.

 

If PKF win, they will sell the club and all its assets to the Pompey Supporters Trust, giving the fans an opportunity to ruin the club themselves. If Portpin win, the Trust's plan unravels and it becomes difficult to see Portsmouth FC lasting much beyond its 115th birthday party.

 

it's the last "run" changed to "ruin"

Link to comment
Share on other sites

Quite. Wasn't he the one that, when the subject of fresh meat supplies was being discussed in relation to eating some Hobbits and was knocked back by a senior orc on account of their being wanted alive by the authorities, asked

"What about their legs? they don't need their legs"

 

Yup. And funnily enough, every time it looks like Pompey are back on track and then they manage to f*ck it up again and I visit this thread, I'm reminded of him saying 'looks like meat's back on the menu boys!'

Link to comment
Share on other sites

Quite. Wasn't he the one that, when the subject of fresh meat supplies was being discussed in relation to eating some Hobbits and was knocked back by a senior orc on account of their being wanted alive by the authorities, asked

"What about their legs? they don't need their legs"

he also had a wingey cockney style voice. can just imagine him shouting "facking scummers!" while frothing at the mouth

Link to comment
Share on other sites

We didn't go into administration to reduce our debt....indeed, all debts were settled outside of the confines of a CVA.

 

I'm pretty sure when we went into administration it was to protect ourselves from those we owed money. As it turned out we paid them back but i'm pretty sure that wasn't the plan all along.

 

But I get your point.

Link to comment
Share on other sites

I'm pretty sure when we went into administration it was to protect ourselves from those we owed money. As it turned out we paid them back but i'm pretty sure that wasn't the plan all along.

 

But I get your point.

 

My recollection:

 

Barclays forced us into administration by reducing our overdraft at short notice and then bounced a mere £4 grand cheque which tipped us over the edge.

 

Yes, we were struggling to keep our heads above water but, as far as my understanding of the situation goes, our debts were 'under control' before Bsrclays moved the goalposts.

Link to comment
Share on other sites

Premier Inn has to be cheap cos Lenny Henry has personally cracked one off in every bed.

 

Hi Bearsy, hope you are well. Sorry to trouble you, but how do you know this? I stayed with a girl at a Premier Inn (this was a few years ago when girls still spoke to me). Does this mean that I've had an indirect threesome with Lenny Henry?

Link to comment
Share on other sites

I've downgraded tomorrow to the most depressing day of the year so far, even though it's likely to be snowing it will officially be Black Friday...

 

So if you want to escape the gathering storm, chill with Nutjobs, escape the madness all around us and laugh at pompey as light relief, this thread will be the place for you.

Link to comment
Share on other sites

My recollection:

 

Barclays forced us into administration by reducing our overdraft at short notice and then bounced a mere £4 grand cheque which tipped us over the edge.

 

Yes, we were struggling to keep our heads above water but, as far as my understanding of the situation goes, our debts were 'under control' before Bsrclays moved the goalposts.

I'm not picking on you trousers, but that's wrong.

 

Barclays forced us into insolvency. We chose administration as the way out.

Link to comment
Share on other sites

I'm not picking on you trousers, but that's wrong.

 

Barclays forced us into insolvency. We chose administration as the way out.

 

Ah, ok - fair dos. I guess the difference I'm trying to highlight is that we may not have needed to choose the admin route if Barclays hadn't 'engineered' the insolvency situation...

Link to comment
Share on other sites

I'm not picking on you trousers, but that's wrong.

 

Barclays forced us into insolvency. We chose administration as the way out.

 

That's what I always thought, but met Lowe about 18 months ago and he was very adamant (And angry) that Barclays put us in admin. I pushed him on it as to wthether they just forced our hand and he insisted they put us in admin.

 

May be it is just symantics and we actually chose that route, but from my understanding it was thier choice, but I guess we will never know one way or the other.

Edited by Gemmel
Link to comment
Share on other sites

That's what I always thought, but met Lowe about 18 months ago and he was very adamant (And angry) that Barclays put us in admin. I pushed him on it as to wthether they just forced our hand and he insisted they put us in admin.

 

May be it is just symantics and we actually chose that route, but from my understanding it was thier choice, but I guess we will never know one way or the other.

Appointed by the board of SLH apparently, according to the statement issued by the Stock Exchange:

 

LONDON, April 2 (Reuters) - Southampton Leisure Holdings , the parent company of Southampton soccer club, on Thursday said it had appointed Begbies Traynor as its administrator and that three of its directors had resigned.

 

"The board has appointed Mark Fry and David Hudson of Begbies Traynor as joint administrators to the company. Rupert Lowe, Andrew Cowen and Michael Wilde have resigned as directors of the company with immediate effect," Southampton Leisure Holdings said in a statement.

 

It added that Southampton Football Club Ltd, a subsidiary of the company, would be unaffected by the insolvency proceedings.

 

Not that it really matters.

Link to comment
Share on other sites

Not to get side tracked again but if going into admin was the only real sensible response to what Barclays did then I think you could get away with saying they put us into admin. If you push someone off a cliff the fall may be what killed them but that does not mean its not your fault.

Link to comment
Share on other sites

Appointed by the board of SLH apparently, according to the statement issued by the Stock Exchange:

 

Not that it really matters.

 

The analogy I would use is a gunman pointing a gun at my head drags me to the nearest cash machine. I'm the one pressing the buttons but he's the one giving me no choice...

Link to comment
Share on other sites

×
×
  • Create New...