Chin Strain

It is. AA admitted the other day that they have a wage bill of £40m p.a. So, my basic maths make that £3.33m per month. Sounds about right when you add the tax and NI to £1.8m.

Corrected your post;)

You must know the same bloke as Corpse. He's only given you half the story though - Riquelme's signing and Maradona will be a goodwill ambassador.

Thinking of anyone in particular Astro....???

Don't be so harsh on yourself.....'Geographically Challenged' is a better description;)! I agree re the South West. Sea's a bit colder and a lot rougher but certainly a nice part of the world. I like Biarritz too. We went to Labenne Ocean a couple of years ago, and really enjoyed it.

Baj, if you want to just sit on a beach then, personally, it's got to be the stretch between Le Lavandou (just east of Toulon) and Antibes. The beaches are great, and loads of lovely little coves with beautiful beaches and scenery. Also, the road hugs the coastline along there and is backed by the Massif Maures hills behind. If sandy beaches are your thing, you need to be careful once you get past Antibes (going east) as a lot of the beaches are pebbley, especially up nearer to Monaco (although it's spectacular along there). The beaches down around Bezier and towards the Spanish border are long and sandy, and not at all like the coves mentioned above, and it's generally fairly flat leading away from the beach, until you get down right on the Spanish border. Also, what you'll find down in this region is that the coast road runs a few miles inland, and each resort is connected by one road that runs off the main road down to the resort. The coastal resorts are generally built around campsites, and are nothing really to write home about. Not for nothing is Argeles sur mer known as the Campsite Capital of Europe - there are loads of them. Personally I'm not keen on Argeles as it's a bit like Britain abroad with the number of fast food joints. and a flood of British tourists. Some people like that, but it's not for me. I've been to a few of the resorts around that region with Eurocamp over the past few years (Vias, Argeles, Serignan) and have had good holidays as they're great for my young kids but, having been brought up with holidays in the area around Le Lavandou (Cavaliere and Cavalaire), I much, much prefer it along that stretch - although it can get monumentally busy around St Tropez and St Maxime in July and August. I don't know you, so it's difficult to say what you'd prefer, but hope I've helped!

No brainer really....of course the blue few would argue that he's a nazi tank driver. FFS.

The only difference is the cash is going into the club in the form of hard cash, not in the form of loans. Sure, we only have the owners word for that, but it's on record, and a fact that he's never run his business on debt. Cortese, in his position as Chairman, confirmed last week on Radio Solent that we are, and will remain, debt free. The difference with us is that we landed on our feet because a proper businessman, with a famous name, saw a very good opportunity. He's a proper Billionaire, obtained through proper businesses in a proper way. What he's spent on us so far is very much loose change. The less said about your owner the better. One thing for certain, he doesn';t fit into any of the criteria outline above re Markus. Unfortunately, the desire and greed of Pompey to 'succeed' on the pitch was at the expense of any infrastructure, demonstrating there was never a desire to hang around for the longterm. Meanwhile, we have had plans approved to redevelop our training ground, which was already at a decent standard. Because there is nothing to buy at Pompey, you will be stuck with chancers who sniff an opportunity to syphon off a big whack of tv money. No sane businessman will touch you with a bargepole. There are better options out there, if you want to throw money away.

So, they get deducted 9 points for going into administration because they've been cheating all season, playing with players that they can't afford. However, no such penalty in the FA Cup, so they get a day out at Wembley, whilst in administration, whilst playing with the same players that they can't afford. I will laugh my arse off if they get absolutley tonked...preferably by Fulham (a Baird hatrick would be nice).

Which would be preferable for the football club, as early release of parachute payment = more return for the creditors. On the downside (), the sale being completed with parachute payment intact for the new owner could encourage asset strippers just interested in the cash, and happy to shaft the club. Win win from our perspective!

'Chin'

He must really be as thick as two short planks if he thought they were in a solid financial position when he took over. We all knew what was going on. It wouldn't have taken a rocket scientist to just do a little bit of research to fully understand their position - the info was all in the public domain. Maybe he can't joint the dots with his crayon.

Having listened to the drivel that has come out of his mouth for the last 6 months, the only conclusion that I can reach is that he's fecking stupid. I'd love it if any journalist who he said that to, challenged him and spelt out exactly how what b o l l o c k s he's talking.

I should bloomin hope not!

I think he probably has security over the ground, but not 'every asset' which was put in place in January.

No he hasn't! They have accepted he has the right to put the club into administration. They most certainly haven't accepted his secured creditor status, per the following quote from the below link: http://www.bbc.co.uk/blogs/mattslater/2010/03/taxman_beats_tactical_retreat.html Of special concern to HMRC are two significant bits of legal work Jacob did for Chainrai/Portsmouth: the first, a "charge" mortgaging Chainrai's £16.5m loan to Al Faraj against Fratton Park, and the second a "debenture" that broadened Chainrai's security to include all of the club's assets. The importance of these documents is that they should make the Hong Kong-based investor a "secured" creditor, placing him at the front of the queue, alongside the players, for whatever cash Andronikou can squeeze out of the club. I say "should" because buried in the subtext of Tuesday's deal between HMRC and Chainrai/Andronikou was some devilish detail: the taxman is reserving the right to challenge Chainrai's secured status ("that may have to be decided by a court at a later date", as Gregory Mitchell QC so expensively put it).

I don't think it really matters whether they've already secured debts against it, or not. If the PL advance the monies, it's gonna go directly to creditors. The club will still cost someone at least the cost of the ground (if BC takes tv cash instead of FP) but there will be zero cash to pay the wages, buy players or move forward. The only reason anyone is sniffing around at the moment is because they see a large carrot in the best part of £40m in tv money.They'll vanish as soon as they realise that cash doesn't exist.

Agreed, he can keep the land but, as you say, the debt is for cash owed by the football club. This has got to be covered by the administration order and therefore he'll get x pence in the £. The land is his ransom strip, that he's hoping he can either flog to any new owner, or develop - either way he's hoping that'll be the key to getting back as much of daddys :smt067 money as possible.

True, although I meant he was irrelevant by way of he'll have to take what he gets offered by the administrator. He remains pivotal to any prospective new owner if they wish to develop the stadium, but that's gotta be a zillion miles away at the moment, and they're going to have a £200m bedpan down in the harbour, don't you know!

To be fair we spent maybe £5m that we were promised by Wilde, and it didn't materialise. Lowe (whether you like him or hate him) came back into the club in early summer 08 and cut out all the costs that he could, loaned out the big earners and played with kids. Result, we got relegated and went into admin 4 months after Barclays knocked £2m off our overdraft overnight, and when they bounced a cheque for £5k. IIRC we owed to Barclays on an overdraft and NU as a mortgage for the ground. Ultimately, we went into admin and so have Pompey, but at least we bust a gut to avoid it, and didn't go under owing a shed load to small business or UK plc (well, I'm pretty sure we didn't). Pompey, on the other hand, have done none of the above.

I'm probably 80/20 in favour of a mercy killing. Football needs a wake up call, and they need to understand the crassness of spending tens of millions you haven't got, and expect some billionaire to just bail them out. It's a disgusting attitude, and most of the fans seem to think it's ok to get into bed with a gunrunner, drug barron, mass murderer, or whoever steps up with cash, as longs as they can fund millions of pounds on prima donnas. To hear them bleating about it not being fair makes my blood boil. If, as a club, they'd tried everything to stay out of admin, and accepted some sort of responsibility for their situation, I'd be more compassionate. Instead, the events of the last 9 months have turned my stomach. Grrrr:mad: P.S. This explains my current thought process amply! http://www.saintsweb.co.uk/forum/showthread.php?p=655677#post655677

FWIW, some amendments based on my thoughts / knowledge. I reckon the tv money is key to any buyer. If it's sucked up in advance by AA, it'll go to creditors, and the chance of any deal will be even more remote

Phil, I still reckon the best bit is AA getting the TV money in advance, meaning the creditors get a better deal, and the football club is more stuffed......yet the fans think he's doing them a favour:lol:

No, they'll get their golden share if they pay their football debts. If they can't agree a CVA (which they won't for the reasons you've mentioned) then they start on minus points. The only way they won't get their golden share is if they fail to pay football creditors (and even then I'd imagine the FL would let them in subject to further points and a transfer embargo)

The PL are more likely to funnel money to the football creditors. There's no way they'll send it to the taxman - that's way beyond their remit. Any money that goes to unsecured creditors through the club will have to be spread equally amongst the unsecured creditors, once the secured creditors have their money back. Unless someone buys the club for the value of the debt then HMRC won't get 100% of the monie owed, so CVA without 75% support beckons....and points deductions follow.