Chin Strain

Did I hear someone mention in passing the other night that there was still the distinct possibility that they might be going down with no money in the bank?

 

I don't know if anyone else heard that rumour.

I saw Rickie Lambert last night and, I don't know if you know, but I would estimate that he stood at nearly 6 ft 3.

This is where you and I differ. I don't think Chanrai lent any money to PCFC and he is not about to start, now. The only way a newly appointed receveiver will allow PCFC to continue trading, is if there is cash in the bank to allow it to, without making the existing creditors positions worse. The only way that will happen is via a cash advance from the EPL, the sale of assets, i.e. players, or the injection of equity (not a loan) from the shareholders or a new investor. Apart from those three options, I'm struggling to figure out other ways of keeping this circus going.

 

I think that the suggestion of impropriety, particularly when the HMRC get to review the activity in the Fuglers client account, with regard to the administration, may mean that the whole money laundering suspicion surrounding this rotting corpse may push the judge in a completely new direction. I don't think there is a "poor little guy" in this case. It's more like "big rich crooks" that are the major creditors and I would love it if the judge winds the club up and allows these gun running crooks to dangle in the wind.

I agree. Jacob basically stuffed up in October when Portpin leant the money to Falcondrone. Jacob drew up a charge on FP, which is a PCFC asset and, unfortunately for his career at Fuglers, forgot that the money should have gone directly to PCFC as Falcondrone only owned 90% of that asset. He realised the exposed position of Portpin in January and tried to fiddle the charge - too late, WUP in place.

The only way Chanrai would stump cash to PCFC now would be if he had a deal in place to swipe the sky money (which would surely have to go to the Administrator to pay out). If, as expected, he's proven to be an unsecured creditor, I'd imagine he'd be going after Al Faraj and Jacob (if he can find either). That would finish his involvement with PCFC and leave them high and dry with regards funding.

Ka-boom.

or the first time they've been caught.

 

Although, tbf, these 2 probably couldn't even pick their arse without the authorities knowing.

 

PS. Was this the one that was supposedly living in Chandlers Ford?

Eh? Hadn't heard that.

Lol, love that... how clueless?

 

Revised - best prices considering the age/contract status' of some players...:

 

1 GK David James (captain) free

3 DF Ricardo Rocha free

4 MF Aaron Mokoena 250k

5 MF Jamie O'Hara (on loan from Tottenham Hotspur)

6 MF Hayden Mullins 250k

7 DF Hermann Hreiðarsson (vice-captain) 0k

8 MF Papa Bouba Diop 500k

9 FW Frédéric Piquionne (on loan from Lyon)

11 MF Michael Brown (vice-captain) 250k

14 FW Quincy Owusu-Abeyie (on loan from Spartak Moscow)

15 GK Antti Niemi free

16 DF Steve Finnan free

17 FW John Utaka 2.5M

18 DF Anthony Vanden Borre (on loan from Genoa)

19 FW Danny Webber 100k

20 FW Tommy Smith 1M

21 GK Jamie Ashdown 750k

22 MF Richard Hughes 500k

23 MF Kevin-Prince Boateng 3M

24 FW Aruna Dindane (on loan from Lens)

25 DF Duško Tošić 0kk (he's not ours though is he)

26 DF Tal Ben Haim 2M

27 FW N****wo Kanu free

32 MF Hassan Yebda (on loan from Benfica)

33 MF Angelos Basinas free

35 DF Marc Wilson 2M

37 MF Gaël N'Lundulu

39 MF Nadir Belhadj 8M

40 DF Joel Ward

43 DF James Hurst

44 DF Luke Wilkinson

46 DF Lennard Sowah

 

 

Er.... I got 21,050,000!!! weird... pretty much what HMRC said

Doh!

Got to love this skate post on POL... apparently the squad is worth the full £38m (once you add £2.5m Nugent back in)

I'm rashly assuming he didn't have an 'm' key on his computer, and incredibly surprised that he worked out that 1000 x 1000 is £1m.

Got to love the way he undervalues Belhadj and Boateng, yet believes that Brown, Mokeona, Smith and Webber are worth £2m each! Utaka at £3.5m and James and Rocha at £1m each (despite being out of contract) are also comedy gold.

What a bell end

Actually I think the revaluation is great news.

 

So 17mil is added on "out of thin air"

 

So we can all assume that figure has been added back in as a PROFIT

 

Which means that the tax on that profit would be what - say around 30%

then there's the VAT of course another 17% or so.

 

So that's great, they just added another 8 mil or more to the tax bill

 

Excellent

Nice.....maybe HMRC will say 'let's do a deal on the player value tax now, just to make things easier for you...then you can keep the £38m when you get it'

I wonder how many of the players are either on loan or their contracts run out at the end of this season.

Whilst Storrie's valuation is £38m, HMRC suggest £21m.

However apart from Wilson just being signed on for a further 3 years the monetary value of the squad is probably way less than £21m and yet they sit as assets in the books.

It's another case of Storrie trying to big up their worth. Even at £21m that's a stretch for the value of the squad. Players actually worth anything would be Belhadj (£5m), Boateng (£6m), Wilson (£2m)....erm, struggling now a bit. When you factor in the fire sale prices that clubs will pay due to the circumstances, and that there will be sell on clauses and contracts to pay up and you start to see that the true worth of transfers will be way below those quoted.

Newcastle will certainly make signings in the summer if, as seems nigh on certain, they are promoted. However, as much as I like Lambert how does he really compare to Milburn, McDonald and Shearer. Of course he doesn't and if he did leave it would only for the CCC. I think he'll stay, of the others Lallana must surely be the most likely to leave. Hammond, as with Lambert and Harding too, must have known when they signed promotion was odds against so on that basis why would they leave after just 1 season which included a trip to Wembley ?

However, at least no matter who leaves we'll have time and money to replace them.

Pretty much agrees with what I said in post 51 then....

Sorry, but those of you who think we won't lose any of our top players in the summer need to wake up and realise that we are a division 3 club. Regardless of our very strong financial position, there are 44 other clubs who can offer a higher standard of football. We have one or two players who aren't getting any younger (namely Lambert) and if a lower premiership club, or even a high championship club come in for any of them then i would say they would definately want to go. For someone like Rickie who hasn't experienced the big time before, it would be difficult to turn down an offer from a Newcastle, Wolves or even a Nottingham Forest at this stage in his career. In my honest opinion, there will be a lot of clubs in for him in the summer. I hope he stays but i fear he is definately one that may leave us.

 

I also think we'll lose Adam and we'll lose Morgan. Both probably to the same kind of clubs - lower premiership/top end of the championship. Some may argue that they'd be better off staying here and having the team built around them again next year but they're clearly both very ambitious lads. If you were them would you want to be visiting the likes of Stockport, Wycombe and Exeter on cold Tuesday nights for another year?

I think the difference is that we'll be asking for big bucks for them. The question is whether higher teams will have the money to take a chance on them. I'm sure all three could play in the CCC, but there's a reason why Rickie hasn't made it to the PL by the age of 28 - he's a very good player at this level, and probably at CCC level, but doubt he has the pace at PL level - bit of a Lee Trundle IMHO.

So, if the PL club won't want to gamble the amount of money on these 3 players, you're down to the CCC clubs. There's not that much money sloshing around in the CCC either and, where it is (parachute), they need to spend it wisely. Will they be prepared to gamble?

No he was not right at the beggining and he just got worse he is used to answering these questions I would have thought

OK...in your opinion he started off badly and it got worse. In my opinion I don't think there was a big problem at the start. Either way, it's semantics. The rest of my post still seems reasonable...IMHO, but that may differ to yours. Which is fine.

It maybe a very big story as it would appear that Pardew was upset prior to the interview I dont think Pardew was upset by the Interviewer and his questions

I guess it just goes to show that everyone reads things in a different way. To me hi seemed to start the interview ok, and then got peed off with the interviewers thinly veiled attempts to find a story. NCs comment a couple of weeks ago probably did wind him up, and he's probably fed up with every interviewer trying to get an angle on those comments.

Having been at Wycombe on Tuesday, I'd imagine NC did have a word as WW are a bottom 4 side and we never really looked like getting a grip on the game. Pitch was poor, but we've got to learn how to dig in and win those games.

I should imagine that Ashley will offload the club in the summer when they're back up in the Prem. They've got a decent team, players like Alan Smith can still play in the Prem even if they've not been getting a look-in before (he's their captain now oddly enough). I'm surprised at the quality of players they managed to hang onto actually, Coloccini, Smith, Nolan, Gutierrez, Jonas, Enrique....they're all good players for Prem teams and far above CCC level.

Yep....and they were all there last season, with other better players than they have now, and got relegated. We also had 'quality' players and still got relegated, so maybe they're not as good as people think.

There's a massive difference between being good in the CCC (their fans will tell you they're not actually that good) and being mid table mediocrity in the PL.

I thought he was rambling,trying to dress up the situation to draw AP on "issues" outside the particular game.

 

On the other hand perhaps his questions were fine and I'm just guilty of reading too much about various parties "agendas" on here.

I'd go for that. The interviewer was prodding him looking for a story away from the football. Some of the questions were just plain amateurish. TBH, I heard Strachan get far more arsey with journalists who he thought were planks. Bit of a non story I feel.

We took Brett Ormerod from L1 when we were a club of a similar stature to Newcastle. Newcastle won't be fighting relegation next season, they'll settle straight back into mid-table obscurity.

They will be if they don't spend a truck load of cash in the summer. I can't imagine a strike force of Carroll and Best will be exactly up to standard in the PL

I am loving Gordon Brown quote in the times article.

 

"We remain concerned that fans and communities of football clubs like Portsmouth shouldn’t suffer because of the inability of clubs to manage their finances properly."

 

So the question to be asked is will he lend PFC money or bring them into public ownership like he has done with the banks?

 

By the way mr Broon talks about his concenrns for the communities of football clubs but he doesnt give a toss about the forth comming cuts that will hit the navy dockyard and mothballing of ships and boats(For dell days)

I may be wrong, but I don't think the economy would go pop if Mr brown let Pompey go pop...

done.

Glad to see all the experts are still on this thread telling us what's going to happen to the Skates. Has anyone got anything right yet?? Have they gone bust, are they liquidated? hahaha, not a chance... :-)

Chanrai is attempting a stitch up and is trying to walk with pretty much all his money. Meanwhile HMRC are wise to it, and put the brakes on....Pompey die Monday.

Lol

 

I don't like to keep harping on at the fact that we seem to be intellectually superior to them, but considering that we know where he lives, we know he has planning permission and has already started work on his extension.......

 

And they get Does anyone know his exact address details???

 

.

 

Someone should drop them a hint that it's on Portsea Island

Hmmm, new front wall and gates as part of the build. Well, that might just come in useful. I wonder if he's submitted an amendment to make the wall 20ft high...

The Barclays thing is a massive red-herring. Forget it.

 

As I said above, the second security would have to have been preceded by a fresh loan in the prior 21 days. It's not a "normally"; it's an absolute or your charge would become an equitable charge only, not a legal charge.

He leant the cash for the wages as at the end of December. They were desperate and he took charges at that point so it would seem

OK further opinion time:

 

Administration will not be overturned on Monday - the Winding up Order will be stayed.

 

Why?

 

Well if the club was trading insolvent before, all that trading is ring fenced and frozen from tomorrow.

 

The club is now being run by a qualified insolvency expert acting as Administrator. He will be working on behalf of the creditors. He will be looking, financed fully by Chainrai, to find a buyer for the football club which will be able to trade going forward.

 

A winding up will close the club, the players will be free agents and there will be no asset. No asset means no sale and no money for the creditors.

 

It is a no brainer. The court will not grant HMRC to proceed, of that I am pretty sure.

 

Let's hear from some of our insolvency experts (I mean those qualified in the field) Does my opinion hold water and is it the favoured opinion?

OK, I'm as qualified as you...so here goes......the biggie for me is that it's going to cost £20m to get the current playing staff through to June. A few will be out of contract then, but the rest (including Utaka, I suspect) will still require paying through the close season with no income, other than Sky money. The Sky money will be £5m for finishing bottom, plus £33m spread over 2 years in 4 instalments as parachute. So, the income at the end of the season, will be £5m and I think the first parachute is August, so £13m in total.

In my mind this means that they will be £7m short, and that's based on outgoings until the end of June. They then need to run the club until January for the 2nd payment.

Put simply, the tv money will not cover the debts they will build up between now and the end of the season, so I wouldn't be at all surprised if HMRC push for liquidation. When you throw in the attempts to hive off monies, as GM has mentioned, it makes a much stronger case for liquidation.

Sorry Girls but just so I understand correctly, are you saying no-one will buy Pompey out of admin and that Fratton Park will be demolished?

Sorry Ho, are you saying you're going to sign Riquelme, and Mancini is going to be your next manager?

IMO it does....as clearly the intention to play him was there. I think this will rumble on a little.

When I said I don't think it matters, I was referring to the FA rule book. I remember WHU getting into trouble in one of the Cups a few years ago for fielding an ineligible player - he came on with a couple of minutes to go. I'm pretty certain they wouldn't have been in trouble had he not come on.

Um!!, I saw Pontys reply, my take is that all registrations are dealt with by the FA. So he was in fact, inelegable to play in the FA cup against us, now that is serious if true!!!. Even at grass roots level, you will get expelled, and the team you played gets the win. Surprised this has been jumped on, mind you, I haven't been on the main board yet, as I've only just got to work;)

He didn't play though, so I don't think it matters.

Silver Mercedes (CLS?) - reg HV59 GRF - if you see it honk your horn and throw some money out of the window and watch Storrie teller stop his car to pick it up

E class

That would explain why Storrie is approaching chancers, money launderers and pyramid sellers etc, because no sane businessman would be interested when wages etc are required immediately to prevent the judge pulling the plug on 1st March.

Yep, they'll find a bent billionaire....and he'll fail the FAPPT, newly improved following the raging of the Pompey fans...arf, arf