Doctoroncall

From the beeb link on the other page, the date in court is tomorrow. As you say Phil, it's the maths that count and we see yet another property developer involved. There are so many ifs, buts and maybes with Chainrai and Gaydamak involved (holding club and land respectively) and the amount of debt to stablise (pay-off or points deduction) even after the £30m purchase price. I suppose because of all that, only chancers will ever consider getting involved. Also, do the skates own this land at Horsea?

What! He's a hero, leading the blue few to relegation and financial mismanagement to be felt for many a season.

He's the example of how not to do it.

Indeed, they have started on a course that will take many years to overcome. When did Leeds tumble from the Premiership?

Yes, hence why Chainrai is somehow supplying funds while AA gets the club operating with it's means, we will know more when AA calls the creditors meeting in about eight weeks time. It's going to be a tough to whittle down the outgoings if they plan on keeping the current squad but they may have no options with the special rules in place regarding player contracts.

But what is the security? or does the original sale of the club count in this situation? I thought they were duty bound to report any "dodgy business" so nothing beyond their remit as administrators.

Part of the problem is that many want to see a huge punishment inflicted right now for all the misdemeanours. I cannot see the PL not appling the points penalty - there would be a hugh backlash. Look at the bad press we had when he who shouldn't be named tried to say it was SLH plc not the club that was in admin. One BIG issue is the status of Gaydamak - is he a secured or unsecured creditor? If secured, the CVA will fail and another 15 points penalty will come their way. At least he has one ace up his sleeve and that is the land around fratton, required if development of the ground is to go ahead.

I've seen both hence the uncertainty. It would be great if he is a secured creditor as that would guarantee the CVA not being approved and a 15+ point penalty unless the fairy godmother pays off all the debts.

Nick, I can understand your concern. It would be nice to see them get their medicine in one big dose, but I think the medicine will have to be taken over a number of seasons unless they find their fairy godmother. As a business what have they got to offer? As a first team, again, what have they got to offer when they cannot afford the current wage bill and there are many coming to the end of their contracts so new cheaper players have to be found? The only thing that concerns me, is the unsecured debt is so large (i.e. if Gaydamak is an unsecured creditor) then HMRC will not have enough percentage to vote it down alone. Also remember there are a few bookmakers who have already paid out on the Skates relegation, they don't normally do that unless there is good reason.

I'm not sure I understand the penultimate paragragh of the Cardiff article: "Non-payment would result in the club being wound up and placed into administration." Surely only a secured creditor/shareholder can place them in admin by applying to the court?

...with the cleaner approaching wanting to plug in the vacuum cleaner with no spare sockets available! Interesting the FT ad had property down as N/A.

Birmingham one nil up. Have the skates only an interest in cup competitions? Let's hope we can put our name on the JPT before they do when they eligible in a couple of seasons. Edit: make that two up to birmingham

I can see this and other Portpin actions through fuglers being of major interest to the court on the 15th to lift the shadow that is now in place at FP. Chainrai has come so close to pulling this off except for those pesky HMRC "kids". I also wonder what AA has to tell, is he going down the dumb route of not all info was available or will he be prepared to spill the beans about his appointment and what he has found at FP beyond that of the Vantis SoA?

It's certainly not easy being a saints fan!

No, that the 5-0 was gained after the 5-1 win.

We still have to win though.

Yes. No idea about the significance of the 17th Sept. I have only seen a bit of info regarding the Barclays charge, but that arrangement would be solely with Miland (Gaydamak). I'm not sure the land would be valued as much as £17m although I see what you're trying to do ;-)

correct. S Gaydamak sold PCPF including FP. Ignoring Al Fahim and his botched take-over, Falcondrone (Al Mirage) are custodians of PCFC. Now there was a deal in place between Portpin (Baloo) and Falcondrone regarding a loan with Falcondrone's 90% shares in the club as security. This is now under scritiny and more should be known on the 15th March. Miland (Gaydamak) own the surrounding property, they have a floating charge arrangement with Barclays.

I see what you mean, but it's not for the HMRC to change the rule. They have contested the secured creditor status before and lost but I can see this course of action putting pressure on the football authorities to drop the football creditor status by going straight to a WU order as there is no advantage of Admin for them (as unsecured creditors) when clubs are seriously in debt.

We've Bavarian, we're Bavarian, we're Bavarian over here! Just nipped out from dinner for an update, glad to see a good scoreline against what I thought was a good team. Happy days. Time to go to the bar and drink some Weisse beer in celebration

I think this season is the first that they didn't sell their full quota of season tickets. It will be interesting to see if that trend continues into next season.

Jeez, bad timing for a week long meeting in Munich, I hope I have enough breaks to catch up on the skates gossip. Some of my own - saw Tevez held up at customs yesterday with a blond bint before kissing her full on to collect the baggage. I thought he was smitten with his new early arrival in Argentina????

They did it to Leeds even though they had an approved CVA so I can see the FL doing it again, especially if there are financial irregularites to consider.

Thanks, I knew a few seasons back it was two payments of £11m over two seasons so £16m makes sense.

Originally Posted by The9: One of the things they will request is advancement of £60m parachute payments due over next 2 years I think the parachute payments are half that considering the play-off final is often called the game with most at stake at £60m (£30m for first year and £30m for parachute payments). Can anyone confirm?