Gemmel

A bit late in the day. I guess the emergency meeting last night decided the trust couldn't do it by themselves. The reality is that there is only 2 days worth of work that they can rack up charges for - I wonder whose pledes are paying for this. Way Way way too late, underfunded and without credibility. Even if they had got over the line, they would have been busted again within 12 months. Welcome back chinny :)

http://www.bbc.co.uk/sport/0/football/18236955 This is small fry compared to our fishy friends up the road, but I did stumble on this; The CVA requires the approval of 75% or more in value of the creditors, and more than 50% in value of the members, voting on the resolution Is this a new rule or Scottish law, or did I just miss this before? If the same applys Chinny, isn't quite home and dry yet ...............

I do bright spark. I may end up looking stupid, but there are too many clubs in financial trouble, if they don't take any action, it leaves the "Gamble" option as a real consideration, which is at complete opposite to what they are trying to acheive. Leave it until they come out of admin.......

It's an intresting story, complete bolliacks but intresting. Until they know how the club are going to exercise their exit from this administration, (As in with or without an agreed CVA) they can't even begin to look at what point deductions would be relevant. The crux of the story seems to rest on the fact that they won't get a deduction for staying in admin, by the time the meeting starts.... Well even us resident nutjobs on here knew that. Exit without an agreeed CVA and see how many points they don't deduct for that...... Oh and then there is the failed CVA. The trust confirmed it was on the agenda and I think a few of us on here have emails from the FL, saying they will adddress it when they know the result of this CVA.

So if he is on holiday, it's not something that will go through in the next day or so

Really dont think we will see much more of Hammond. That sounds harsh, but as well as he did last season, he aint a Premiership player

At most organisations I've worked for, I've stumbled across the odd individual, who you just think "How the fook" did you get that job followed by appointments that you can only say "Why". But when you look at Supporters Direct "values and objectives" and marry them to the decisions he took at pompey, it is the most bizarre appointment, I've ever seen.

For those that are hoping this week will spell the end, then you will be disapointed. Birch will present chinny as the new owner (Again) and the FL will have no choice but to accept him. But that's good news, he will bleed them dry over the next couple of years, won't care what legaue they are in and won't be funding any decent player acquisitions. And you know what, when he is done, when the parachute payments are finished and they are wallowing around mid table in league two, there is every chance he will put back into admin. This thread is only half way through

Yep, chuffed for them.

http://www.portsmouth.co.uk/sport/pompey/pompey-past/pompey-weighing-up-training-ground-options-1-3880712 They haven't been kicked out............... Yet :)

Well pompey alone had total tax debts of 29 million in the first CVA which would have seen 5.8 million repaid, but now they will only get 2p in the pound of that amount so they will get 116,000. The second 3.8 million tax bill will generate 76k. 32.8 million debt, 192,000 to be paid back, which means 32.6 million wiped off. Throw in interest over that period of time and you've around 40 million of lost taxes.

Cancel your holiday Kelv http://www.bbc.co.uk/sport/0/england/18204979

03-11-2008, 09:12 AM #13 Corporate Ho View Profile View Forum Posts View Blog Entries View Articles Add as Contact Registered User Join Date Dec 2006 Location He plays on the left, he plays on the right, ooooh Matron Posts 893 [h=2][/h] Don't tell me, this is just another example of your complete and utter disinterest in all things Pompey, isn't it? You couldn't care less about us in any way, shape or form could you? Storrie's comments about it being boring were because he's already answered the same question over and over again. He didn't say finances were boring. What he said was that journalists asking the same question was boring and that he'd already answered it, hence the "move on" comment. As for Gaydamak being unable to offload the club and your glee at that apparent fact, what I'd say is that if you wait two weeks (or possibly even sooner) an announcement will be made that will leave you all with egg (or maybe egg foo yung) all over your faces. Sorry to disappoint you :cool ******* long two weeks corpy old son

I'm with you on this one HP. The trust guys that post on forums - simply won't respond to ay questions on this issue - Try the news and any thread where oldred eye posts, or fans online and the riddle. May be they think that they will lose pledges if people think there is a chance of a points deduction and by default relegation.

Me too, but I am convinced there is no other option. There was also a telling comment on the trust web cast, where they said they were in discussions with the FL over this issue. The only way there won't be a deduction is if it is not on the agenda. The fact that the trust are in "talks" over them, means it is on the agenda. Also I bet the FL would like to stutch chinny up a bit after all the grief he has caused them and the reality is , the lower the league they are in, the lower their cost base will become and eaiser for them to survive / live within their means.

They will get a points deduction.

Used to drive from Brock, and it isnt that bad. Couple of flash points ; one way system lyndhurst, rushington round about and then general slog into town, but if you left at 7.00am you would fly in. parking costs and fuel together, it will almost certainly be cheaper to train it in (Every half hour from Brock)

Simply not enough demand down there to keep it open.

A spokesman for PKF said Mr Chainrai’s bid to buy the club, which has not yet been finalised, should see creditors getting more than 2p for every £1 they are owed. Arhhhhhhhh, Chinny you are all heart. SHOULD? Strange wording - Unless repayments are tied to certain conditions........... Which will of course will never be met. So 2p in the pound (Maybe) from the 20p- in the pound from the orginal 130 million debt. This administration lark seems like a money maker

I was going to post this a while ago and I have no idea whether it is or isnt, but last season there is an argument that Cortese was spot on and made more money for the club but providing a short sales window, no installements and no half season tickets (Althought they did do the final ten or something). Did we make more money doing it his way......very possibly

As you have no idea of the cash flow - strange thing to say. Go back to the fact the end of our financial year is June and to sell them now would fook us up, with regard to the income vs expenditure rules

At the risk of sounding like I know anything about these things (Which I don't) if we sold them now we would effectively have two lots of season ticket sales in one financial year (which would soon be last years). Given the forthcoming spending to income rules, that would be suicide...especially if we have money to spend. If I am right, it makes perfect sense, but as has been said, no reason why they can't release the prices.

Agreed

Isn't this all to do with when we changed the end of our financial year to June?

http://www.portsmouth.co.uk/sport/pompey/pompey-past/henderson-seals-permanent-hammers-move-1-3866251 Assumming that we knew we were going to release bart at the end of the season, I am surprised that we didn't go for Henderson. west ham got him for 600k. That is a serious bargain