Doctoroncall

But hasn't the stockmarket speculators created this false price to make money in buying up crude? Brown sold the UK's gold at rock bottom prices to help him out of a jam, but I don't think you can blame socialists entirely for this problem.

I wonder if they'll go into admin before the season is out if they get relegated before the last match? I think their finances have almost been as dodgy as the skates, what with the auditors not signing off on last years accounts and Pearson coming back to try and steady the ship.

hence the added clause! Ward, Lucas and Amankwah are also out for them.

Billy Paynter and Vincent Pericard are out of the game for Swindon. I think there are a couple of others in doubt. This should be a home banker if eveyone plays to the game plan!

I see some of the skates are getting excited (sorry deluded) from 606, for example: comment by LincolnSaint (U13801258) posted 16 Hours Ago Can I ask a genuine question (not wumming) I dont understand why they would buy Pompey. I can understand it if you guys stay up (if you dont get the points deduction I genuinely believe that you will) then the club might be a half decent investment opportunity. But if you end up next season in the championship there are more attractive clubs to buy (probably cheaper) such as Norwich, Cardiff, Leeds who all have a bigger fan base and more modern facilities. So whats in it for him as a Liverpool fan is the crux of my question. ------------------- What you are looking at is potential for growth compared to how much you invest. Liverpool would firstly cost a fortune to buy and then another fortune to pay off the debt those two plonkers have put on the club. Pompey are available for a lot less than that. Then, they will be looking at the huge amount of space Pomepy own bang in the centre of a city on the south coast of England. They'll be looking at moving us to Horsea, building a new stadium with higher revenues and sponsorship. What they'll look to do with Fratton is build housing, supermarkets etc etc. That should cover the cost of the stadium after a few years. So, long term, it is a sound investment as long as its done properly. Remember, we are bottomed out a bit in the property market. These chaps will be looking at a minimum of 5 years (financial cycles etc). Its encouraging that Investec are involved. They are a highly respected firm of Fund managers. And a big deal. They also sponsor a lot of sporting events in the UK (ashes, england games etc.) So, what you are looking at Lincoln is speculation from a club bottomed out, rather than taking over a massive club like Liverpool, who need a lot of investment in playing staff (to stay as champ league challengers) and a much bigger stadium is requred.. And their debt is huge.. ours isn't that bad in comparison, although it is all relevent.. These people will be looking to increase their equity values once they have invested. The only way to do that with Pompey is to Build a new stadium and develop the old land (great for the fans) and in most probability, have a stable Premiership team at some point. (great for us again..)

How exactly are they saving money and how much? Or are you saying the hosting families will not be paid to do this?

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.